Fortunately, crises as serious as the current one, end up imposing the need for a true union. If Europe does not unite, in 40 years there will be none of its Member States in the G8. It will be irrelevant.
2. Simplify the corporate tax code with lower statutory rates and no loopholes.
Our corporate tax code is, as our colleague Mihir Desai puts it, the
worst of all worlds, with the highest tax rate among OECD countries, but
actual revenue collection is low due to loopholes and deductions.
Companies respond by aggressive tax planning, seeking offshore tax
havens, (See video on BBC, July 22, 2012, Tax havens: Super-rich 'hiding' at least $21tn, maybe $32tn, and www.taxjustice.net +OECD reports) and locating jobs abroad.
Paul Danos is dean of the Tuck School of Business at Dartmouth.
For the past three years, employment statistics have hit an all-time high here at Tuck. At top business schools across the country, these statistics usually reflect business optimism—at least in the sectors that hire our graduates. The stock market, too, during a four-year period, has been quite positive. Again, this can normally be viewed as a reflection of forward-looking optimism.
But most economic prognosticators see a continuing dull economy indeed, and the last 12 months of macro-economic data reinforce their gloom. I believe that businesses are hiring young leaders from top MBA programs because of an optimism based on real business prospects and capabilities. These include the desire to build and expand, along with the notion that there will be increased political and policy hostility and deadlock.
This presidential campaign provides a stark contrast on the business-friendliness scale with perceived end points in terms of regulatory and tax burdens being far apart. Uncertainty in the prospects for the government's level of business-friendliness blunts planning for growth, and even though business leaders individually see great prospects, they are held back by the real possibility of more oppressive government policies.
GSB Dean Garth Saloner (20min40) and former British Prime Minister Tony Blair discussed the African Governance Initiative (AGI). Blair said that much-needed economic development in Sub-Saharan Africa cannot go forward without improvements in governance.
The AGI works in Liberia, Guinea, Rwanda and Sierra Leone.
The speech was sponsored by the Center on Democracy, Development and the Rule of Law; Freeman Spogli Institute for International Studies; Stanford Institute for Innovation in Developing Economies; Center for African Studies; Center on Philanthropy and Civil Society; Stanford Association for International Development; Associated Students of Stanford University; and Stanford Speakers Bureau.
Yu Yongding, currently President of the China Society of World Economics, is a former member of the monetary policy committee of the Peoples' Bank of China and former Director of the Chinese Academy of Sciences Institute of World Economics and Politics.
David Daokui Li (Chinese: 李稻葵; pinyin: Lǐ Dàokúi) is a Chinese economist economist and the Director of the Center for China in the World Economy (CCWE) at the Tsinghua University School of Economics and Management and is the Mansfield Freeman Professor of Economics. He currently teaches courses on economic transition, corporate finance, international economics, and China's economy....He is a member of the 1985 inaugural class of the Tsinghua School of Economics and Management (Tsinghua SEM)..
Li Daokui is a part of a trio to replace Fan Gang, as academic members to the central bank’s monetary policy committee (PBOC Monetary Policy Committee)...
“It is in China’s long-term and intrinsic interest to help Europe because they are our biggest trading partner but the chief concern of the Chinese government is how to explain this decision to our own people,” said Professor Li.
“Any mis-steps in helping Europe could cause problems with domestic public opinion – the Chinese people will watch very carefully what their own government does,” Prof Yu said. “European leaders also must have a clear plan of what to do and they must show China they have the political will as well as the support of their own people; if we see protests and chaos all the time, then China won’t have confidence in Europe’s political ability.