Wednesday, April 22, 2015

Where China’s Liberals Live, and Why - Wall Street Journal


http://blogs.wsj.com/chinarealtime/2015/04/15/where-chinas-liberals-live-and-why/


5:24 am HKT
Apr 15, 2015 

ECONOMY & BUSINESS

Where China’s Liberals Live, and Why 


 
    Shanghai: As liberal as they come in China. Andrew Rowat
    Decades of rapid economic modernization has delivered prosperity to millions in China. It may also have sharpened the ideological divide between liberals and conservatives.
    A new study by U.S.-based researchers finds that China has its own version of the U.S.’s red state-blue state divide between Republicans and Democrats. The more prosperous regions tend to be more ideologically liberal than those from impoverished rural provinces, while richer and better-educated individuals were also less likely to express conservative leanings, the study shows.
    “Provinces with higher levels of economic development, trade openness, urbanization are more liberal than their poor, rural counterparts,” the researchers said in a paper published online by the Massachusetts Institute of Technology late last week. Residents in inland regions, on the other hand, are more likely to subscribe to conservative calls for a powerful state and collectivist values, they added.

    These findings, based on data from an online survey of more than 170,000 people, suggest “that modernization, characterized by economic development, urbanization, increasing incomes, higher levels of education, as well as exposure to ideas from the Western democratic context, is tied to changes in ideological orientation,” wrote Jennifer Pan and Yiqing Xu, who are graduate students in political science from Harvard University and the Massachusetts Institute of Technology.
    While the Communist Party enjoys a political monopoly and doesn’t do popular elections, the researchers say their findings have implications for policy-making. The study said that economic troubles, for example, could cause the leadership to adopt more nationalistic rhetoric, which could be more popular in poorer, rural areas.
    “It may be an effective strategy for autocratic leaders to pander to a nationalistic base when facing economic challenges,” the paper said. “A liberal policy agenda is more likely welcomed by the rich and well-educated, but less by those who are poor, less educated, and culturally conservative.”
    In mapping these divisions, the researchers found that Shanghai was the most liberal of the 29 provinces and municipalities analyzed, followed by the wealthy coastal provinces of Guangdong and Zhejiang. Beijing came in fourth, while Xinjiang—the relatively poor and restive Western border region—came last. Here’s a sortable list of of all provinces and regions ranked according to liberalness:
    The study also suggests that, within the Chinese population, political orientation is strongly linked to ideological leanings on economic and social issues.
    This means political conservatives—who support nationalism and a strong government—are also likely to back a return to socialism and a state-planned economy, as well as champion traditional, Confucian values.
    “In contrast, political liberals, supportive of constitutional democracy and individual liberty, are also likely to be economic liberals who support market-oriented reform and social liberals who support modern science and values such as sexual freedom,” the researchers added.
    It isn’t clear precisely why ideological orientation is strongly correlated with economic modernization, though the researchers cite as possibilities greater exposure to liberal ideas and to the benefits of market liberalization.
    The study drew on 2014 survey data from the Chinese Political Compass, a website set up by individuals affiliated with Peking University. Responses from some 171,830 people – dominated by male college students – were analyzed, though the researchers acknowledged that this was neither a random nor representative sample of the Chinese population.
    Roughly 89% of respondents were from mainland China, 1% were from the self-administered territory of Hong Kong, while the remainder were from abroad. Within China, however, respondents were distributed unevenly – Beijing accounted 23% of the total, followed by Guangdong with 9% and Shanghai with 8%, but nine provinces in western China and the southern island province of Hainan together contributed less than 4% of the survey sample.
    – Chun Han Wong. Follow him on Twitter @ByChunHan.

    Tuesday, April 21, 2015

    5 Words to Avoid Using to Describe Yourself in an Interview - TIME

    http://time.com/3825835/5-words-avoid-describe-yourself/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+timeblogs%2Fcurious_capitalist+%28TIME%3A+Business%29

    April 17, 2015
        

    Go for words that sound more like facts and less like judgments



    Hiring managers all have their favorite interview questions, but they’re typically some variation of the common ones. For example, you might get, “How would your colleagues describe you?” or “Use three words to describe yourself.” Either way, your overall approach would likely be the same. The thing you need to be mindful of, then, is what words you actually use.

    Or, to put it in another way, there are words that you should never, ever use.

    1. Intelligent

    You know you’re intelligent, and you know the hiring manager is looking for someone who is intelligent, but please don’t describe yourself as such. This is one of those words that you want people to say about you, but that you don’t want to say about yourself. Whether or not someone is intelligent is a judgment call, and you want to shy away from words like that.

    What to Do Instead

    Talk about the way you think, and use words like, “logical,” “quantitative,” “fast learner,” or “big-picture thinker.” You’re going for words that sound more like facts and less like judgments.

    2. Likable

    For the same reason you don’t want to describe yourself as intelligent, you want to avoid words like “likable.” That, plus it’s tricky to find supporting examples of why you’re likable without sounding weirdly desperate. (“Everyone says hi to me, laughs at my jokes, and misses me when I’m out sick?” Um, no.)

    What to Do Instead

    Use words that you can back up, like “team player,” “outgoing,” “enthusiastic,” or “caring,” and back them up with examples of how you pitched in, spoke up in meetings, or threw an office holiday party. It’s much more palatable when the evidence you give involves actions you took rather than the actions or reactions of others.

    3. Successful

    You can successfully do something, but you can’t just call yourself successful. It’s like saying in an interview that you’re rich and good-looking. Do you really think that’s a good idea?

    What to Do Instead

    Narrow the focus down from success on a global scale to success on a more specific skill. You can absolutely say that you’re good at what you do. In fact, you should. The difference is saying that you’re successful in all realms of your life and pointing out your relevant skills and experiences for the job. The first is annoying; the latter is necessary.

    4. Obsessive

    Even if you’re immensely passionate about your work, you still want to avoid describing this trait or any trait with words that have a negative connotation. Having to explain yourself means that you and the interviewer are not on the same page, and ideally, you could avoid all that.

    What to Do Instead

    There are plenty of words you can use to get across how invested you are in your work that probably are more specific and don’t require some awkward explanation. Words like “focused,” “detail-oriented,” “hard working,” or “dedicated” all work well.

    5. Humble

    It’s weird to brag about how humble you are. It just doesn’t work. Don’t walk into this unfortunate contradiction and try to talk your way out of it. The more you try to explain this, the more you wear down your interviewer’s trust.

    What to Do Instead

    If this is really something you want to get across in an interview, go with the “show don’t tell” strategy. Each time you need to brag about yourself during the interview (which will be often, since it’s an interview), only state the facts. Talk about what you did, what the result was, and what others thought, and leave the judging to your interviewer.
    Of course, there are always exceptions to the rule, and perhaps you can pull off describing yourself as intelligent, likable, successful, obsessive, and humble without cutting your interview short. But know that there are other ways to get your point across without causing your interviewer to spend too much energy trying not to roll his or her eyes.

    This post is in partnership with The Muse. The article above was originally published on The Muse.

    Monday, April 20, 2015

    This Simple Exercise Will Make Sure You Spend Time on What Makes You Happy - TIME

    http://time.com/3825864/simple-exercise-life-audit/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+timeblogs%2Fcurious_capitalist+%28TIME%3A+Business%29

    April 17, 2015
        

    Here's a simple three-step solution

    It’s so easy to get caught up in the daily grind. Before you know it, a week has passed, the month ends, the year is over, and you haven’t done a thing that mattered to you. Somehow, you managed to be busy and bored all at the same time.
    So, how do you break the cycle? Is there a way to actually spend time on what makes you happy—to separate the urgent from the important?
    Marika Reuling, chief of staff at Harvard University, might have a simple three-step solution.

    Step 1: Start a Life Audit

    At the 2015 Greater Boston Women in Leadership Symposium, Reuling spoke about completing a life audit once or twice a year to help her reevaluate how she spends and prioritizes her time. To get started, you’ll need a bunch of sticky notes, a pen, a blank wall or floor, and privacy. You should probably turn your phone off, too.
    A life audit, as serious as it sounds, is simply the process of writing down every tangible goal or vague ambition, both professional and personal, on a Post-it note and sticking it on a blank wall. Ximena Vengoechea, after completing her own life audit, suggests shooting for at least 100 wishes for yourself.

    Step 2: Define Your Vision

    From there, try to place each of your goals into a bucket: travel, health, family, career, and more. Whatever theme comes up can have its own bucket. Move the sticky notes around until they’re all under the right theme, and consider whether these themes capture what you want your career and life trajectory to be. Continue adding more sticky notes, if necessary.
    What you have in front of you now are guidelines for how to spend your time in a way that’s rewarding for you. For Reuling, this step helped her realize she needed something in her professional life that allowed for more artistry. Now, not only does she help manage resources and staff at Harvard, she co-runs a vineyard with her husband in Sonoma Valley, California.

    Step 3: Design Your Day

    Now that you have your guidelines, plot your day around these goals. Mark each note with an “S” for short term, an “L” for long term, or an “E” for every day. From there, you can decide how to work toward your short and long term goals. This is where you want to get specific. Set weekly or monthly goals and be exact about the time you hope to spend.
    Reuling suggests using the Timely app (or something similar) to help you plan and keep track of how you’re spending your time. If you’re having trouble figuring out where you can actually fit more into your day, consider doing a time audit to see where you’re spending all your time and whether it makes sense or not.
    Working toward a hundred goals big and small may sound like a daunting task—and it is, but no one ever said you had to do it alone. As Reuling concludes, “Think about your team, both at work and at home.” No one ever found success on their own, so don’t forget to lean on others as you try to break the cycle and refocus your goals.

    This post is in partnership with The Muse. The article above was originally published on The Muse.

    Sunday, April 19, 2015

    5 Best Starting Points for Increasing Overall Happiness - TIME

    http://time.com/3756052/starting-points-increasing-happiness/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+timeblogs%2Fcurious_capitalist+%28TIME%3A+Business%29

        

    You are the people you surround yourself with

    When I look at my surroundings I often feel a sense of solitude — not necessarily in a bad way, but not in a good way either. I’ve always been the sort of person who goes after what I believe in, despite the possibility of failure. To me, the worst outcome of all is knowing that you could have achieved something, but didn’t because you never tried. I meet many people who have hopes and dreams of doing great things. But while anyone can dream, very few actually accomplish what they initially set out to do.
    There is a fundamental problem with our generation and the ones that came before it: All too often we are told to abide by the norm. We are influenced to think we are happy when in reality we might want more. We are conditioned to be content with average outcomes. Here are a few ways to help you break away from this conditioning.

    Think Like Those You Admire


    We all have heroes we look up to. So think about what they would do if they were in your position. Would they keep working that $40K-a-year job that shows no upsides for the future? Would they keep slaving away until 3 a.m. for a frustrating boss who takes credit for all of their work? What do you want from life? Is your goal to wake up and do the same mundane thing every single day? If you wish to achieve something great, the time to do it is now. The first step is to forget everything that is holding you back from accomplishing your dreams. It’s scary at first, but it will set you free.

    Forget Money

    Money should never be your main prerogative. Many of my friends are bankers or consultants pulling in $150,000+ by age 25, but they hate their lives. They burn their entire youth on these jobs, but by the time they realize it, they are already heading to business school and picking up another dull corporate stunt. They get married and have kids, and then it’s too late to find out what they truly love to do. Focus on finding your passion. If you love what you do, the money will come eventually and on your terms!

    Forget Fear

    Many of us are scared to fail. We don’t believe we have what it takes to make things happen. Well, here is a mantra to live by: “Failure is just another opportunity to try again.” Some of the brightest minds in the world were massive failures before hitting it big, like Howard Shultz and Walt Disney. Embrace failure and you will find success soon after.

    Forget Toxic Relationships

    This is a big one, which breaks down into two categories.
    1. Peers: Think of the five people with whom you spend the most time. Do you like what you see? Are they awesome people doing amazing things? Or are you hanging with a bunch of unmotivated degenerates? Typically, we are a product of these five people. If your friend circle isn’t a reflection of who you want to be, it may be time to find new friends.
    2. Relationships: So you’ve been in a 1+ year relationship with someone. You aren’t quite sure this person is your lifelong partner, but you’re used to having them around and can’t imagine being single again. If after a couple of years you’re already having problems, then odds are you aren’t meant to be. My advice is to end it. Channel your newfound freedom into a passion. This will bring you happiness and fulfillment in ways that your current partner cannot.

    Forget Complacency

    We are creatures of comfort. It’s understandable to get comfortable with your surroundings, your monthly paycheck, vacations, etc. The problem is when we stop pushing ourselves to be the best we can possibly be. It sounds clichéd, but this is absolutely the worst possible thing you can do. When you’re comfortable, you stop achieving. You hit a plateau and you stagnate. When complacency prevails, enlightenment dissipates.

    Forget the Word “No”

    Say “yes” more. Saying yes will get you out of your bubble and living life the way it’s meant to be. You will meet new people and have new experiences. You never know where a new adventure will take you. Experience everything life has to offer.
    Some say life is short; others live it as if they will be here forever. My theory is that life isn’t short per se, but it is definite. Of the seven billion or so people on earth, very few will be here in 100 years. Rich or poor, the one thing we all have in common is an expiration date. I have made the conscious decision to live my life to its fullest potential. It’s up to you what you want to do with yours.
    At the age of 25, Dan Novaes brings a decade of entrepreneurial experience to his role as founder & CEO of MobileX Labs, the app solutions company behind Nativ, a free mobile app builder. He started his first company at the age of 15 with $1000 and built it up to over $2M/year in revenue by age 20. A graduate of Indiana’s Kelley School of Business, Dan is a self-taught entrepreneur, lifehacker, and used his skills to establish his brand across international e-commerce, consumer products, apparel, and web media industries. Dan’s companies have generated over $16M in revenue to date. For more please see Dan’s website, danielnovaes.com. 

    The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, YEC recently launched StartupCollective, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses.

    Saturday, April 18, 2015

    Ask These 14 Questions to Stand Out at Every Event You Attend - TIME

    http://time.com/3815616/14-questions-stand-out-every-event/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+timeblogs%2Fcurious_capitalist+%28TIME%3A+Business%29

    April 13, 2015
        

    "Ask a question that really warrants an answer"

    My golden rule of networking is to be ready. When you have great questions for the people you’re talking to, you have even better conversations. And you don’t waste your or others’ time with idle chatter where no one learns anything new.
    That’s why, when it comes to attending events that feature speakers or panelists, I believe in preparing great questions. People who speak at these types of events are typically leaders in their field, and thus are the crème de la crème of networking contacts. And the best way to show that you’re worth connecting with is to look like you know what you’re looking for and what help you need from others to get it.

    So, when there is a break for questions, seize the moment! But before you take the mic, heed the advice of the late great ESPN anchor Stuart Scott:
    Ask one question. You don’t have to ask a long question. You don’t have to ask a question where you’re using so many words because you think that it shows that you know the subject matter. Ask a question that really warrants an answer.
    Here are some questions that will show speakers your thoughtfulness, add knowledge for the whole group, and ultimately help you make a lasting impression.

    Questions to Learn About Their Journeys

    When people agree to join panels, they’re making it clear that they enjoy talking about themselves and what they know. Show that you’ve paid attention to what they’ve said and that you want more context about who they are. Don’t be shy about a little ego-stroking!
    1. When did you know you wanted this job?
    2. How did your earlier career choices lead you to where you are now?
    3. What career mistake has given you the biggest lesson?
    4. What research did you do to prepare for this role?
    5. What was your first “win” that made you confident that you were doing the right thing?
    6. How do you avoid being complacent in your role?
    7. What is the biggest risk that you’ve taken?
    8. What did you do at work yesterday? (This is a spin on the “what is a typical day” question that will yield more specific, informative answers.)

    Questions to Get Their Advice

    This is probably why you’re attending this event in the first place, right? Try not to stand up and ask “What’s a guy/gal gotta do to get a job around here?” These questions will get you better results.
    1. How did you set yourself apart from others who wanted the same job?
    2. What is the best career advice you’ve ever received?
    3. What advice would you give to your younger self at the start of your career?
    4. What impresses you the most when you are considering hiring someone?
    5. How does your team (or company) define success?
    6. What is the biggest challenge to achieving that success?
    Note that all of these questions require more than a “yes or no” answer. That’s intentional. You want people to go a little deeper. This way, what they share will give you useful insight about their work and help you know more about what it takes to be successful at it.

    When the event is over, feel free to approach the panelists, but do more than just ask for a business card. Tell them that you appreciated their answers, and share how their words will impact you. Then, when you reach out to connect, be sure to put the question that you asked in the subject line (e.g., “Follow-up from Adrian: I asked about your advice to your younger self”). These little steps will go a long way in helping you be remembered.

    Friday, April 17, 2015

    Moscovici warns Greece to agree to reforms or face default - Financial times

    http://www.ft.com/intl/cms/s/0/0d985030-e4f5-11e4-bb4b-00144feab7de.html?siteedition=intl#axzz3XZpdCw3I


    April 17, 2015 1:09 pm

    Moscovici warns Greece to agree to reforms or face default

    Chris Giles in Washington
    ©EPA
    Pierre Moscovici had suggested an extension of the current bailout under terms
    The EU’s top economic official has set the mid-May meeting of eurozone finance ministers as the “decisive” moment for Greece to agree a new set of economic reforms or face possible default.
    Speaking to the Financial Times in Washington on Friday on the fringes of the International Monetary Fund spring meetings, Pierre Moscovici, the European commissioner for economic and financial affairs, confirmed that there was little chance of a deal next week.


    Insisting there was no “plan B” regarding an exit from the eurozone, he called on Greece to “speed up” concrete technical discussions on a list of reforms it has submitted that, if agreed, would unlock the remaining €7.2bn loans from Greece’s eurozone partners.
    Without this funding, Greece is likely to run out of money and default either to the IMF in May or June, or to the European Central Bank later in the summer when large numbers of bonds held by the central bank mature.
    Negotiators from the organisations formerly known as the Troika – the European Commission, the IMF and the ECB – have expressed deep frustration in Washington that Greece has not taken the technical talks seriously over the past few weeks and are in no mood to release the money without substantive progress.
    Long-stalled talks between leaders of the teams from Athens and the bailout monitors are scheduled to resume in Brussels Saturday, according to a commission spokeswoman.
    Some officials privately talk of their hope that the Greek government will take the discussions more seriously, but many expect the country will default in the next few months.
    We are talking about things, but now we need to make progress
    - Pierre Moscovici
    Mr Moscovici, however, was adamant that a deal could still be done at the finance ministers meeting on May 11 if the negotiations start in earnest now.
    “We’ve got two meetings which are important. The April 24 meeting in Riga must not be a wasted moment; it must be a useful moment in which we see concrete progress in catching up with those reforms, and then the next meeting on May 11, which certainly must be decisive,” he said.
    He said the discussions with the Greek authorities had been “not precise enough. We are not talking about nothing. We are talking about things, but now we need to make progress”.
    While other European officials are now privately musing about Greece defaulting and then possibly leaving the euro, Mr Moscovici said the commission was determined to make the negotiations work — and there was no work being done on a plan B.
    “If integrity is not preserved [with Greece leaving], it means the euro is no more a single currency. It is just a system of fixed rates and so it’s weaker than before, and we want the integrity of the eurozone,” he said.
    Mr Moscovici added: “Grexit would be bad for the eurozone as a whole; bad for Greek people; bad for the financial system; of course it would be bad. The financial risk could be addressed, but it would be bad. So no Grexit is our motto.”

    Thursday, April 16, 2015

    What to Know About Google’s Fight With Europe - TIME

    http://time.com/3822956/google-eu-antitrust-case-shopping/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+timeblogs%2Fcurious_capitalist+%28TIME%3A+Business%29

    April 15, 2015
        
    Dado Ruvic—ReutersGoogle and European Union logos are seen in Sarajevo, in this April 15, 2015 photo illustration. 

    The search giant faces charges of anticompetitive behavior in Europe

    A new antitrust complaint filed against Google by the European Union Wednesday could force the company to pay huge fines and change the way its search engine operates in Europe.
    In the complaint, EU regulators say Google has abused its dominance in online search to stifle competition. If the charges stick, Google could face a cascade of antitrust allegations over a variety of its other services as well.

    Here’s a quick explainer of why European officials are targeting Google and how the search giant has responded so far.
    What is the European Union saying Google did wrong?
    The formal accusation is tied to the way Google displays its own products in search results. Items from Google Shopping, Google’s product comparison tool, are displayed at the top of the search results page when users search for many basic products, like “kites” or “dog food.” According to the EU, automatically placing Google’s own service in this prized digital real estate could “artificially divert traffic from rival comparison shopping services and hinder their ability to compete, to the detriment of consumers, as well as stifling innovation.”
    Why does it matter whether Google promotes its rivals equally?
    Google controls more than 90% of the search engine market share in most European countries, compared to about 65% market share in the U.S. According to Google’s rivals, such as Yelp and Microsoft, that control over search gives Google incredible influence over the viability of other companies that rely on search results to drive web traffic and generate business. Google could, for instance, use its dominance in search to bolster its other less dominant offerings.
    What is Google’s counterargument?
    In a blog post Wednesday, Amit Singhal, Google’s senior vice president for Search, points out that traffic to Google Shopping is still dwarfed by sites like Amazon and eBay in European countries and does not significantly outpace other competitors. He also cited the successful IPO of German shopping site Zalando as proof that competition was not being stifled by Google Search.
    “Any economist would say that you typically do not see a ton of innovation, new entrants or investment in sectors where competition is stagnating — or dominated by one player,” he wrote. “Yet that is exactly what’s happening in our world.”
    How long has the European investigation been going on?
    Officials began a general investigation into Google’s search practices in November of 2010. After years of back and forth, Google reached a tentative settlement with the European Commission in February 2014 in which the company agreed to place competitors’ search results at the top of the results page along with results from Google’s services. However, the settlement was ultimately rejected later in the year. Now the EU has a new antitrust chief, Margrethe Vestager, who has taken a harder line against Google.
    What punishments could Google face?
    The European Union can collect fines as large as 10% of annual sales for violation of antitrust law. In Google’s case, that would amount to more than $6 billion, though it isn’t clear if a final fee would go that high. The company could also be forced to change the way its search engine works — in its charges, the European Commission says Google should treat its own comparison shopping service the same as that of its rivals by showing whatever results are most relevant based on a user’s search query.
    Google will have ten weeks to respond to the EU’s allegations in hopes of avoiding a big fine.
    Is this only about Google Shopping?
    No. The European Commission also announced that it’s opening an antitrust investigation into Android, Google’s mobile operating system. The Commission will consider whether Google pressured manufacturers who use Android on their devices to pre-install Google apps. It will also seek to learn if Google prevented manufacturers from developing modified versions of Android in a manner that runs afoul of antitrust law.
    For its part, Google argues Android has helped spur mobile innovation and that its practices are not out of line with the way Apple and Microsoft control their mobile ecosystems.
    The Commission is also continuing to investigate how Google prioritizes its own specialized results in other specific fields, such as flights, and the kinds of restrictions the company places on advertisers.
    Could Google face similar scrutiny in the U.S.?
    It’s doubtful. The Federal Trade Commission launched an antitrust investigation into Google in 2011 but ultimately filed no legal charges against the search giant. A recently disclosed internal report, however, revealed the FTC was closer than initially believed to filing charges against Google.
    Has this ever happened before?

    American tech giant Microsoft long sparred with European regulators over antitrust concerns regarding the Windows operating system and Internet browsers. Microsoft initially got away without a fine by agreeing to offer new Windows users in Europe a wider choice of browsers. However, Microsoft was fined $732 million in 2013 when it was found not to be complying with that deal (Microsoft blamed technical errors). Some commentators argue Microsoft’s dealings with European regulators changed the company’s culture in profound ways.

    Wednesday, April 15, 2015

    Is the West losing its edge on defence? - BBC NEWS

    April 15, 2015 at 3:35pm
    http://www.bbc.com/news/world-europe-32290224

    Mark UrbanDiplomatic and defence editor, BBC Newsnight
    • 14 April 2015
    •  

    Speak to those who are in charge of the West's defence or have recently stepped down, as I did for Radio 4's programme The Edge, and you will find a very worried group of people.
    They wax lyrical about the decline of their own forces, explain the growth of those of their challengers, and worry about the long term consequences for stability in many parts of the world.
    "What we have seen in the last two decades is a form of physical and moral disarmament… we're in a very dangerous place," said General Sir Richard Shirreff, number two in Nato's military structure until last summer.
    And the former deputy chief of the US Air Force Lt Gen David Deptula, explaining how America has bought far too few combat aircraft during the past decade, opined, "we have a geriatric air force".
    Basically we've ruined American air powerPierre Sprey, Chief designer, F-16 fighter
    But how can this be true when Nato and the US spend such vast sums of money on the military?
    As Michele Flournoy, formerly number three in the Pentagon, told us, more than half the money goes on wages - whereas emerging powers like Russia, China, and India, spend far less on those in uniform.
    The military have also contributed to their own misfortunes by conspiring with defence contractors to build ever more expensive weapons that can only be afforded in much smaller numbers than those they are supposed to replace.
    Pierre Sprey, chief designer on the F-16 fighter noted the ruinous consequences of buying stealth aircraft at hundreds of millions of dollars a copy.
    "It's a triumph of the black arts of selling an airplane that doesn't work," he said.
    "Basically we've ruined American air power."
    Since 2012, the US has cut its spending on the military from 4.6% to 3.9% of its GDPAs a result of its procurement practices, the Pentagon now has fighters that average 24 years and bombers that are 38 years old.
    Last year it acquired fewer new planes than in any year since 1915 and was outstripped for the first time in fighter deliveries by Russia.
    The US retains very large forces, of course, and it will only be during the next decade that the consequences of the growing obsolescence of much of its equipment makes themselves felt - most probably by a significant decline in the numbers of many of its major weapon systems.
    Republican senators have pledged to try to reverse President Obama's plans for significant cuts (as a proportion of GDP) in US defence spending, but so far have not changed the overall direction of travel.
    With the US increasingly focused on China and pressure for further cuts, the idea that America should keep shouldering 70 or 75% of Nato's spending burden is "unsustainable", according to Douglas Lute, US ambassador to the Western alliance.
    So while the Pentagon has sent over small numbers of soldiers and jets following the Ukraine crisis, it is leaving the question of how best to respond to the Kremlin's growing assertiveness, largely to the Europeans themselves.
    Anders Fogh Rasmussen believes less spending on defence means less international influencePerhaps the starkest warning of all that I heard while making The Edge came from Anders Fogh Rasmussen, Nato's secretary general until last September.
    "It is my clear view that we have now entered a new era of cold war," he said, "and I think it will last for decades".
    Mr Rasmussen believes it is quite likely that President Vladimir Putin could test the alliance's resolve by direct pressure upon its members in the Baltic republics.
    As for the consequences of declining Western military capability at a time of growing assertiveness from its rivals, these are hotly debated.
    Russia and China now expect greater freedom to deal with security challenges on their periphery without American interference. Sergei Lavrov, the Russian foreign minister has said that the US will just have to get used to the deepening of the "multi-polar trend", or drift, away from a single dominant superpower.
    Western politicians do not feel confident enough to make the case for rearmament
    Critics of President Obama argue that lack of leadership, as well as capability, has already emboldened extremists or adventurists, contributing to growing chaos in the Middle East.
    The president's people tend to blame their Republican predecessor for the dissolving of the glue that held that region together by his 2003 invasion of Iraq.
    What these partisan arguments obscure is the wider truth that the economic and military power of Western nations is declining, while that of emerging powers and even some non-state groups, grows.
    That is a long-term trend, cutting across the decades, just as it does the narrow issue of who happens to be in the White House or No 10 at a particular moment.
    One only has to consider the current reluctance of either of the UK's main political parties to keeping to the Nato target of spending 2% of GDP on defence - a step that would add around £30bn to the defence budget over the next five years - to realise that Western politicians do not feel confident enough to make the case for rearmament.
    But that just adds to the worry of many in the defence and security business that an edge the West once enjoyed is gone for good. 

    Tuesday, April 14, 2015

    10 Habits You Should Abandon Now to Improve Productivity - TIME

    http://time.com/3815536/10-habits-abandon-improve-productivity/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+timeblogs%2Fcurious_capitalist+%28TIME%3A+Business%29

    April 10, 2015
        

    Not all tasks are equally important

    They say that you have the same number of hours in the day as Beyonce — so why does it feel like you’re never able to get caught up on your business to-do list?

    Here are 10 habits you should ditch right away to improve your productivity:

    1. Checking email constantly

    Let’s face it: We’re all guilty of wasting precious time and mental focus by over-checking email. The impact of this habit is serious, though, as checking email too frequently has been linked to lower memory function, anxiety, depression and lower performance.
    The best way to overcome this bad habit is to only check email at certain times. If necessary, you can create an auto-reply email saying “I check my emails at 10 a.m., 12 p.m. and 3 p.m. I’ll respond to you as soon as possible.”

    2. Scheduling weekly status meetings

    Most of us have the sneaking suspicion that meetings are a huge time-waster, yet we keep scheduling them anyway. One of the biggest culprits is the weekly status meeting. Even if nothing has changed, everyone has to stop what they’re doing and attend a face-to-face meeting. Instead, try using a shared project management system,internal chat tool or Google Docs to track milestones and note what has been accomplished so far.

    3. Working long hours

    Studies have shown that those who work more than eight hours a day have lower productivity and higher burnout rates than those who don’t. Clocking these hours might look good, but you aren’t getting anything extra accomplished. Instead, work on being more focused during your work hours by using techniques such as time blocking. Your results will speak for themselves.

    4. Waiting on the big project

    When you look at your to-do list in the morning, what do you tackle first? If you tend to do the easier things first and wait on the big projects, you’ve got a bad habit. By the time you get to the important work — if you ever do — you’ll be tired, cranky and far less productive. By starting on the big project right away, you give it your best energy while saving the easy work for later in the day when you naturally have less focus and motivation.

    5. Having coffee for breakfast

    Almost everyone uses caffeine to wake up, but is that all you’re using? If you’re not eating breakfast, you’re missing out on important fuel for your day. After sleeping, your body is dehydrated and hungry. If you have coffee for breakfast, you’re not giving yourself the nutrients and liquids you need, which will undoubtedly have a big impact on your productivity and mood throughout the day.

    6. Not getting eight hours of sleep

    Speaking of sleep, do you get your full eight hours? Most American business owners don’t, and it’s killing their productivity. Research has shown that getting five hours or less of sleep several nights in a row affects you in the same way that having a 0.10 blood alcohol level does. In addition, you’ll be more prone to mistakes, have more headaches and be more easily distracted if you don’t get enough sleep.

    7. Eating lunch at your desk

    You may think that you’re being more productive by skipping your lunch hour, but what happens if you spill food or a drink on a key report — or your keyboard? You could ruin your productivity for the afternoon with a simple slip-up. In addition, you’re more likely to make poor food choices and overeat if you’re eating at your desk. Do your productivity a favor and get lunch away from your desk.

    8. Not taking breaks

    You may think you’re more productive if you keep plugging away, but studies show that people need breaks to maintain maximum productivity. Think of a break as a way to rest, allow your brain to make new creative connections, and refocus on what’s most important. Breaks also help prevent mistakes and keep us engaged with our work.

    9. Giving every task equal importance

    According to the 80/20 rule, 20 percent of our tasks will produce 80 percent of our results. So why are you treating all tasks as if they’re equally important? By focusing on the most important 20 percent — which may not be your most urgent work — you’ll be significantly more productive. There’s nothing more frustrating than spending a day “fighting fires” only to realize that you didn’t accomplish your most important work.

    10. Multi-tasking

    You may think you’re being more productive when you try to do two things at once, but you’re fooling yourself. Your brain may be good at switching quickly between tasks, but it still causes a loss of focus, creativity and productivity. By focusing on one task at a time, you’ll get more done overall.

    Having bad habits is common, but they can be overcome. By focusing on breaking these 10 productivity-killing habits, you’ll dramatically improve your effectiveness, making it possible to accomplish whatever business goals you’ve set for yourself.

    Monday, April 13, 2015

    China’s Trade Decline Shows Signs of Economic Weakness - TIME

    http://time.com/3819173/china-economy-trade-march-beijing/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+timeblogs%2Fcurious_capitalist+%28TIME%3A+Business%29

    8:23 AM ET
        
    Sheng Li—ReutersInvestors look at an electronic board showing stock information at a brokerage house in Shenyang, Liaoning province, China on March 30, 2015. 

    The decline has deepened since mid-2014

    (BEIJING) — China’s trade contracted in March by an unexpectedly wide margin, adding to expectations that Beijing will launch new stimulus to shore up weakening growth in the world’s second-largest economy.
    Exports fell 15 percent compared with a year earlier to $144.6 billion following a 20.5 percent contraction the previous month, customs data showed Monday. Imports declined 12.7 percent to $141.5 billion.
    The decline fueled fears that economic growth in the first three months of this year, due to be reported this week, fell further after declining to 7.3 percent in the final quarter of 2015.
    The weakness “represents not only monthly volatility but also further weakness in foreign trade, adding uncertainties to economic recovery,” Citigroup economist Minggao Shen said in a report.
    The economy has cooled steadily as communist leaders try to steer China to more sustainable growth based on domestic consumption and reduce reliance on trade and investment. Last year’s full-year growth of 7.4 percent was the lowest in two decades.
    The decline has deepened since mid-2014, feeding concern that growth might be falling too sharply and raising the risk of politically dangerous job losses.
    To spur growth, Beijing has cut interest rates twice since November. China’s top economic official, Premier Li Keqiang, said in March that Beijing might intervene to stimulate growth if employment weakens too much.
    Also in March, the central bank governor, Zhou Xiaochuan, said economic growth had fallen “too sharply.” He said inflation has fallen so low that the country should be alert to the possibility of deflation, or a damaging overall decline in prices.
    Total imports and exports in the first three months of the year fell 6.3 percent from a year earlier, making it unlikely China can meet the Communist Party’s official target of 6 percent growth for the year.

    That “dismal performance” increases the chances Beijing might roll out more help for Chinese exporters following the announcement of export rebates in March, economist Brian Jackson of IHS Global Insight said in a report.

    Sunday, April 12, 2015

    12 Simple Ways to Improve Your Website - TIME

    http://time.com/3815584/12-ways-improve-website/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+timeblogs%2Fcurious_capitalist+%28TIME%3A+Business%29

    April 10, 2015
        

    Try redesigning your home page


    Question: What is one simple way I can improve my business website this year without totally overhauling it?


    “We’ve been using LiveChat on many client projects and absolutely love it. It conquers a few key areas with one app — instant sales insights to know what a prospect is most interested in, real-time feedback on what’s confusing with your current site and an easy-to-use messaging system to contact you for support requests if you’re offline.” — Patrick Conley, Automation Heroes


    “We found that integrating well-produced videos into a page can dramatically increase conversions. Integrating video is generally simple and can be done without redoing the basic design or navigational structure of your site. Of course, the hard part is generating great video content!” — John Rood, Next Step Test Preparation

    Create Clear Calls to Action

    “Many businesses lose customers because they do not provide a clear path for customers to navigate through their websites. Having clear calls to action that explicitly state what you would like the customer to do is an easy way to raise revenue with little work involved. Think about the most important business objectives you have, and then place logical CTA buttons throughout to support the goals.” — Lawrence Watkins, Great Black Speakers

    Include Testimonials

    “Putting up customer testimonials greatly improves your conversion rates and social proof. If you can add a few killer testimonials — in the form of tweets, videos or quotes — it will really increase your business website’s impact.” — Vanessa van Edwards, Science of People

    Rewrite Web Copy From Your Customers’ Perspective

    “So many business websites are written in a language that’s not relevant to their customers. Take a step back and look at your website copy through your customers’ eyes. You should first slash the word count by half, and then rewrite it with an eye for using plain speak versus jargon, put it into their words and facilitate skimming versus reading.” — Leah Neaderthal, FamilyBridge

    A/B Test Potential Changes

    “Test out changes before making them with tools such as Visual Website Optimizer or Optimizely. They’re affordable and simple to use. Sometimes, little changes can yield big gains.” — Josh Weiss, Bluegala

    Upgrade Your Fonts

    “You’d be surprised how different the same content looks with a few simple font changes. Make an update. Go modern. Websites are trending more toward a brochure style. Up the font size, and use a Google Web font to expand your options. It’s a simple change that yields a big effect. The same content will stand out in the crowd.” — Trevor Sumner, LocalVox

    Add a Phone Number

    “Great customer service is critical to creating happy customers. While most startups try to streamline their service with robust FAQs and a “24-hour reply” promise on emails, the most effective way to grow sales is to add a phone number on your site. Make it front and center — talk to people when they are on your site and ready to buy!” — Aaron Schwartz, Modify Watches

    Refresh Your Home Page

    “Redesign your home page with an eye for user experience. What type of information do new visitors need most? Figure out what resources help users make the best use of your site, and then relocate the links for your most important tools and information to the highest-visibility areas of your main Web page.” — Heather Schwarz-Lopes, EarlyShares

    Create More White Space

    “Find ways to create more white space around the most important areas of your website. Chances are, you’ve cluttered areas of your website as new ideas and content have emerged over the years. Take some time to review what is critical to your business and what is not. Remove what isn’t, and find new, cleaner ways to present the refined content.” — Janis Krums, OPPRTUNITY

    Focus on Conversions

    “What can you do to improve website conversion? It could mean making a phone number more prevalent on your home page if you’re a service business or making small tweaks to the wording and action items.” — Andrew Fayad, eLearning Mind

    Pay Attention to Your Analytics

    “Google Analytics is free and incredibly powerful if you use it correctly. Add the tracking codes to your site, and analyze the data at least twice a month. Pay attention to the customer flow and drop-off rates for each page. Make the pages that have the highest average time easier to find. Analyze the lowest-performing pages and look for ways to make those stickier to keep visitors engaged longer.” — Brittany Hodak, ZinePak

    The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, YEC recently launched StartupCollective, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses.

    Saturday, April 11, 2015

    The Real Reason the Dollar Is So Strong Right Now - TIME

    http://time.com/3816903/strong-us-dollar/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+timeblogs%2Fcurious_capitalist+%28TIME%3A+Business%29

    April 10, 2015
        

    And why it could seriously hurt American business


    When is a stronger U.S. dollar not a good thing? When it causes companies to sell fewer products overseas. That’s one of the big concerns at the moment among American CEOs, many of whom are worried about what the dollar’s strength against currencies like the euro and the yen mean for US exports–and corporate profits.
    They have legitimate reason to worry. Each of the five major dips in U.S. corporate profitability since 1970 have occurred following reduced sales after periods of relative dollar strength. The Fed has recently expressed concerns about whether the dollar’s strength could hold back the US recovery, which has been lackluster to begin with. Wages are still growing at only around 2 %, not enough to push up consumer spending, which is the major driver of our economy. If US exports also begin to suffer, it could be difficult for the economy to sustain the 3% a year growth figure that is needed to create more jobs.
    Some economists believe the dollar’s strength reflects the fact that the U.S. is still the prettiest house on the ugly block that is the global economy. (Certainly, to employ another metaphor, it’s the strongest leg on the global stool with China slowing sharply and the Eurozone debt crisis flaring back up as Greece looks likely to run out of money next month.) But I think it’s more about central bankers and their actions. The dollar’s strength reflects the Fed’s own recent indications that it will likely raise interest rates by the end of the year.

    Indeed, the dollar’s strength almost perfectly tracks Fed statements about the coming end of easy money. The tightening of US monetary policy (or even the hint that policy will tighten at some point) has driven the dollar up (and oil down) even as Europe’s beginning of its own “QE” or quantitative easing program has driven the Euro down. None of it reflects the economic reality on the ground, but rather the fact that central bankers are, as investment guru Mohamed El-Erian frequently says, the “only game in town.” For more on what the stronger dollar might mean for consumers, companies and the economy as a whole, you can listen to Josh Barro from the New York Times and I discuss the topic on this week’s Money Talking.