FEATURED PHOTOS AND STORIES

January 13, 2020

Two new flags will be flying high at the Olympic Games in Rio.

For the first time, South Sudan and Kosovo have been recognized by the International Olympic Committee. Kosovo, which was a province of the former Yugoslavia, will have 8 athletes competing; and a good shot for a medal in women's judo: Majlinda Kelmendi is considered a favorite. She's ranked first in the world in her weight class.

(South Sudan's James Chiengjiek, Yiech Biel & coach Joe Domongole, © AFP) South Sudan, which became independent in 2011, will have three runners competing in the country's first Olympic Games.

When Will Chile's Post Office's Re-open? 

(PHOTO: Workers set up camp at Santiago's Rio Mapocho/Mason Bryan, The Santiago Times)Chile nears 1 month without mail service as postal worker protests continue. This week local branches of the 5 unions representing Correos de Chile voted on whether to continue their strike into a 2nd month, rejecting the union's offer. For a week the workers have set up camp on the banks of Santiago's Río Mapocho displaying banners outlining their demands; framing the issue as a division of the rich & the poor. The strike’s main slogan? “Si tocan a uno, nos tocan a todos,” it reads - if it affects 1 of us, it affects all of us. (Read more at The Santiago Times)

WHO convenes emergency talks on MERS virus

 

(PHOTO: Saudi men walk to the King Fahad hospital in the city of Hofuf, east of the capital Riyadh on June 16, 2013/Fayez Nureldine)The World Health Organization announced Friday it had convened emergency talks on the enigmatic, deadly MERS virus, which is striking hardest in Saudi Arabia. The move comes amid concern about the potential impact of October's Islamic hajj pilgrimage, when millions of people from around the globe will head to & from Saudi Arabia.  WHO health security chief Keiji Fukuda said the MERS meeting would take place Tuesday as a telephone conference & he  told reporters it was a "proactive move".  The meeting could decide whether to label MERS an international health emergency, he added.  The first recorded MERS death was in June 2012 in Saudi Arabia & the number of infections has ticked up, with almost 20 per month in April, May & June taking it to 79.  (Read more at Xinhua)

LINKS TO OTHER STORIES

                                

Dreams and nightmares - Chinese leaders have come to realize the country should become a great paladin of the free market & democracy & embrace them strongly, just as the West is rejecting them because it's realizing they're backfiring. This is the "Chinese Dream" - working better than the American dream.  Or is it just too fanciful?  By Francesco Sisci

Baby step towards democracy in Myanmar  - While the sweeping wins Aung San Suu Kyi's National League for Democracy has projected in Sunday's by-elections haven't been confirmed, it is certain that the surging grassroots support on display has put Myanmar's military-backed ruling party on notice. By Brian McCartan

The South: Busy at the polls - South Korea's parliamentary polls will indicate how potent a national backlash is against President Lee Myung-bak's conservatism, perceived cronyism & pro-conglomerate policies, while offering insight into December's presidential vote. Desire for change in the macho milieu of politics in Seoul can be seen in a proliferation of female candidates.  By Aidan Foster-Carter  

Pakistan climbs 'wind' league - Pakistan is turning to wind power to help ease its desperate shortage of energy,& the country could soon be among the world's top 20 producers. Workers & farmers, their land taken for the turbine towers, may be the last to benefit.  By Zofeen Ebrahim

Turkey cuts Iran oil imports - Turkey is to slash its Iranian oil imports as it seeks exemptions from United States penalties linked to sanctions against Tehran. Less noticed, Prime Minister Recep Tayyip Erdogan, in the Iranian capital last week, signed deals aimed at doubling trade between the two countries.  By Robert M. Cutler

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Tuesday
Jul062010

Could USA’s Loss on the World Cup Soccer Field Mirror What’s Happening in the Global Markets? (Commentary)

By Nick Popow, HUMNEWS student reporter-at-large

(HN, July 6, 2010) "History is written by the winners."

Winston Churchill hit the nail on the head with that thought, which has long-since been embraced as an American ideal. It has gotten to the point where Americans have become obsessed with dominating whatever field they choose to play - whether it’s in business, academia, the media, military or athletics in general.

Curiously, soccer is an odd standout. While Americans have their homegrown sports such as football, baseball, and basketball, the rest of the world has soccer. South African wine exports have surged in recent years, putting the country almost on par with France. (HN. 2010)  

The question is why?

As the world watches the first World Cup ever to be held on African soil in South Africa, unprecedented numbers of Americans have flocked to TV screens to watch what is known in most other countries as football.

Who were they cheering for mostly?

Ironically, not for the star-studded Team USA – even with a lineup of players hailing from many top European clubs.

Instead the applause heard in American pubs, airports and community centers was reserved for the South American, European or Asian teams that define their individual ethnic origins.  Not only does this phenomena reflect the ethnic melting pot that is America but also because most European and South American teams are simply viewed as “better” or “better qualified” than the American team. It is no exaggeration to say that Americans hate being second best.

Bill Clinton was spot on when he said in Cape Town last week at the Fortune Global Summit that if the US were to host the next World Cup every visiting team would have a local home audience – given the sheer number of Diaspora communities here.

One could concede that, at least for a split second, as Landon Donovan of the U.S. team scored a dramatic last gasp winning goal against Algeria, the chance of the US to become a winner was within reach. That goal seemed to finally ignite widespread passion for the game State-side.  

But that hope was short-lived as in the very next game the U.S. was eliminated from further competition in a 2-1 loss to Ghana – the last remaining hope for the host continent, Africa - in overtime. Imagine, the U.S., a super power, being eliminated by a tiny developing country like Ghana.

But alas, soccer does not accord status to superpowers, not even the United States.

Could the ongoing realignment of power on the World Cup soccer pitch reflect what is going on in the global business marketplace? A marketplace where emerging economies like Ghana, Nigeria and Kenya are vying for attention with the likes of Singapore, Mexico and India. The World Cup is described as a huge shot in the arm for South Africa. (HN, 2010) 

Natalie Billon, a Wall Street veteran, put it this way: “The rise in the strength and popularity of soccer teams outside the U.S. mirrors a shift in the balance of economic power toward the emerging market economies. Investors are increasingly looking outside the US for growth.”

Recent GDP growth data backs this assertion. From 2000 to 2008, while G7 countries have contributed 19.8% of GDP growth, the BRIC countries have contributed an incredible 46.3%. To reflect this, investors are voting with their portfolios. Ten years ago, the allocation recommendation for exposure to emerging markets was less than 8%. Today the recommendation is 25%  to 30% plus.

Sadly, and to the detriment of US business, the mainstream American media is just beginning to take notice of this historic shift. If there was one clear message from the Cape Town summit that Clinton headlined it is that the enticing opportunities exist NOW in Africa and that US captains of industry could be missing the boat. As Clinton presciently said, the problem of the rich countries is rigidity.

Perhaps what we are witnessing – the decline of America’s pre-eminent position in everything - is something akin to the fall or decay of the British Empire more than 100 years ago. Heady stuff to ponder to be sure. This is a view shared by the quintessential international investor and market historian Jim Rogers, who some years ago identified the decline of the US and the developed markets and the rise of the emerging markets, led by China and the commodities boom. “I dont see anyway that America is going to become the great country in the 21st century again,” says Rogers.

---With research by HUMNEWS.

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