In The News

World Without Water: The Dangerous Misuse of Our Most Valuable Resource

Nicola Abé, Jens Glüsing, Felix Lill, Michaela Schiessl, Samiha Shafy and Helene Zuber August 20, 2015
The world is depleting its supply of freshwater, which represents 2.5 percent of the overall water supply. “The world's population has almost tripled since 1950, but water consumption has increased six-fold,” writes a team for Spiegel Online. The report reviews wasteful practices in Brazil, California, Spain and efforts to privatize water markets in Bolivia and Germany. About 70 percent of...

Devalued Yuan Seeks Reserve Currency Status

Will Hickey August 13, 2015
China is pushing for the renminbi to join the ranks of reserve currencies as designated by the International Monetary Fund. The IMF may delay such designation and gave a nod to China’s abrupt devaluation of the yuan, letting the unit respond to market forces. Reserve status for the yuan would be symbolic, a gesture acknowledging China’s weight in the global economy, argues Will Hickey. The United...

IMF Staff Urges No Rush to Add China Yuan to Currency Basket

David Chance and Krista Hughes August 12, 2015
China is pressing the International Monetary Fund to designate the yuan as a reserve currency, but IMF staff have urged a delay until September 2016. “The IMF board is scheduled to make a decision in November on whether to include the yuan in a basket of currencies comprising dollars, euros, pounds and yen, although the decision could be pushed back if policymakers decide they need more...

Cheaper Chinese Currency Has Global Impact

Jon Hilsenrath and Brian Blackstone August 12, 2015
Rising debt, a slowing economy and battered stock markets prompted China to devalue the yuan. “By devaluing the yuan, Chinese authorities are turning to a controversial growth-boosting tactic whose effects by their nature reverberate far and wide,” reports the Wall Street Journal. “Chinese officials framed their action as a modest move toward a more market-sensitive currency, something U.S....

Capitalists, Arise: We Need to Deal With Income Inequality

Peter Georgescu August 10, 2015
Billionaires are nervous about growing inequality. The United States is wealthy, yet 40 percent are in debt, living from pay check to pay check. Businesses that rely on ordinary consumers purchasing clothes, home products and more will see stagnation. “If inequality is not addressed, the income gap will most likely be resolved in one of two ways: by major social unrest or through oppressive taxes...

Is Climate Change Now Its Own Industry?

August 7, 2015
The climate-change industry – especially consulting on preventing, avoiding and preparing for extreme-weather events – is fast growing, explains a $995 report by Climate Change Business Journal, as covered by Insurance Journal. Corporations are conducting risk assessments that cover the next decade or two. Climate-change consulting extends deep into supply chains to avoid disruptions. “The report...

Barack Obama’s Climate Plan Makes for Canny Politics

Nick Butler August 5, 2015
President Barack Obama announced a Clean Power Plan for the United States – reducing carbon emissions by 32 percent from 2005 levels by 2030 and increasing reliance on renewable energy; solar power is expected to expand by 700 percent with reduced costs. “Coal-fired power plants will be closed and, with export potential limited, dozens of US coal mines will close as well,” writes Nick Butler for...