Daily Archives: 03/26/2011

Blogging Blocked in Beijing

Blogging Blocked in Beijing
JohnBTaylor@Stanford.Edu (John B. Taylor)
Sat, 26 Mar 2011 07:41:00 GMT

One of the things I like most about blogging is that I can post from anywhere in the world—Tokyo, Milan, Washington—not just from my home or office at Stanford.
Well not exactly. This past week I could not post from Beijing where I was visiting. I normally use Google’s Blogger platform to post blogs, but when I attempted to post from Beijing I could not get on Blogger. I soon found that I could not even get on my blog, nor on Greg Mankiw’s blog, nor any Blogspot blog.

When I asked some students what the problem was, they told me that all Google platforms were blocked in China, and so were Facebook and Twitter platforms. As I later discovered in this Wall Street Journal article, the blockage is evidently part of an effort to prevent Internet traffic related to the so called “Jasmine Revolution.”

So I had to wait until I returned to Stanford to start blogging again, as I did yesterday. But it’s sad to know that students in China who might be interested can’t read, for example, about how the U.S. and the Chinese stimulus packages differed, or about many more important things.

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Blogging Blocked in Beijing
JohnBTaylor@Stanford.Edu (John B. Taylor)
Sat, 26 Mar 2011 07:41:00 GMT

What happened to stimulus vs. austerity?

So much for Winning the Future. The principal economic policy problem that Washington needs to address is not growing wage competition from China and India. Policymakers should instead solve the long-run fiscal problems of the U.S. federal and State governments.

Stimulus lost the debate. Austerity won. And Winning the Future is a diversion.

KeithHennessey.com

via What happened to stimulus vs. austerity?.

"The World Economy Goes East"

 

Bill Easterly:

The World Economy goes East: should the West get hysterical?, by William Easterly: Danny Quah of LSE has a new article “The Global Economy’s Shifting Center of Gravity“. Here’s the shift, where black dots denote the easterly shift that has already happened 1980-207, and red dots the projected shift 2010-2049:

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The future shift extrapolates current trends. This is iffy given how individual country growth is mean-reverting, but I will leave that for another day.

If the Economy indeed continued East this way, is this really bad for the West? Professor Quah does not address this in the article, but … the … answer is: Of course not. Economic growth is not an elimination tournament like the current NCAA basketball madness, where one team wins and the other goes home. When a previously poor part of the world gets richer, everybody wins.

Temporarily and illegimately assuming the role of official spokesman for the West,… the richer are our trading partners, other things equal, the more demand for our products, the more and better jobs created thereby, the more gains from trade, the more innovation as the extent of the world market grows, and the more we can benefit from the additional human capital and innovation happening in the East.

And then temporarily and illegimately becoming development spokesman: higher growth in the poorer East means catching up to the richer West. Isn’t that what we always wanted?

In sum, what’s not to like?

"The World Economy Goes East"
Mark Thoma
Tue, 22 Mar 2011 04:27:00 GMT