Weekend Reading - Oct 27/28

US Economy:

2012 US Economic Growth – YTD Appraisal

http://online.wsj.com/article/SB10001424052970203922804578080951638784688.html

Long-Term Economic Distress in Japan

Japan's Declining Fortunes:
http://www.washingtonpost.com/world/asia_pacific/a-declining-japan-loses-its-once-hopeful-champions/2012/10/27/f2d90b2e-1cea-11e2-9cd5-b55c38388962_story.html

Emerging Market Related Links:

Corruption and rapid economic growth in China

http://www.newyorker.com/reporting/2012/10/22/121022fa_fact_osnos?currentPage=all

China learns a lesson on why protectionism is ultimately bound to fail

http://www.washingtonpost.com/business/economy/as-candidates-promise-a-crackdown-chinas-advantage-erodes-in-a-key-area/2012/10/26/2363a766-1a18-11e2-bd10-5ff056538b7c_story.html

India – State-level completion may lead to better economic outcomes

http://www.washingtonpost.com/world/asia_pacific/in-india-rise-of-regionalism-offers-alternative-path-to-prosperity/2012/10/24/85e87c60-0c56-11e2-bd1a-b868e65d57eb_print.html

Why India Needs Retail FDI

http://blogs.the-american-interest.com/bhagwati/2012/10/16/untenable-critiques-sowing-confusion-on-supposed-ill-effects-of-retail-fdi/

On Asian Americans:

From WSJ – Rise of the Tiger Nation

http://online.wsj.com/article/SB10001424052970204076204578076613986930932.html

From NYTIMES

http://www.nytimes.com/interactive/2012/10/27/nyregion/a-disparity-in-top-public-high-schools.html

http://www.nytimes.com/2012/10/27/education/a-grueling-admissions-test-highlights-a-racial-divide.html

Brain Science

Watch How Smart Can We Get? on PBS. See more from NOVA scienceNOW.

The Blame Game in International Economics

It is quite common these days to place the blame for many of America's economic ills on the rest of the world (and especially on China). The specious nature of many of the arguments put forth in this regard by US politicians (and even a few American economists) is highlighted in this must-read piece by Yale economist Stephen Roach:
http://www.project-syndicate.org/commentary/america-s-bipartisan-mistakes-about-china-by-stephen-s--roach

US 2012 Q3 Real GDP - Advance Estimate

South Korean Dilemma – Chaebols vs. Start-ups

South Korean Dilemma – Chaebols vs. Start-ups

US Economy - Searching for Direction

UPDATE: US Durable Goods Orders Released
---------
An interesting piece by David Leonhardt

http://www.nytimes.com/2012/10/24/us/politics/race-for-president-leaves-income-slump-in-shadows.html

The corporate sector is less enthused about US/global economic conditions

http://www.nytimes.com/2012/10/24/business/economy/companies-arent-as-optimistic-as-consumers.html

Low Interest Rates and the Direction of US Equities
http://www.economist.com/news/finance-and-economics/21564845-low-real-interest-rates-are-usually-bad-news-equity-markets

Also, see Robert Shiller on the US Equity Valuations

 

On China's Economy

Why China Will Avoid the Middle Income Trap for Now

http://www.frbsf.org/publications/economics/letter/2012/el2012-31.html

China’s Current Cyclical Slowdown

http://www.economist.com/news/finance-and-economics/21564873-china’s-economic-slowdown-looks-be-over

Rise of the Renminbi

http://www.economist.com/news/finance-and-economics/21564880-yuan-displacing-dollar-key-currency

FT Video



Update:

China's Recent Slowdown - Impact on the US Economy
http://www.nytimes.com/2012/10/23/business/global/chinas-slowing-economy-puts-pressure-on-american-exporters.html

US Economy - Specific Challenges

Tom Friedman Considers the Big Challenges Facing America

http://www.nytimes.com/2012/10/17/opinion/friedman-how-to-score-the-debate.html

Does Inequality Affect Growth?

http://www.nytimes.com/2012/10/17/business/economy/income-inequality-may-take-toll-on-growth.html

Economic Recoveries from Financial Crisis Related Recessions
http://www.bloomberg.com/news/2012-10-15/sorry-u-s-recoveries-really-aren-t-different.html

Nobel Laureate Alvin Roth on Labor Market Mismatches