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      <title>Joseph Pastorelli- SOC 448 News Journal by </title>
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      <description>Made with a wish on a star</description>
      <language>en-us</language>
      <pubDate>2017-11-30 23:40:48 UTC</pubDate>
      <lastBuildDate>2017-12-04 07:53:03 UTC</lastBuildDate>
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         <title>Post #1 (October 1,2017) -- Chinese Purchase Investment Bank.</title>
         <author>joseph_pastorelli308</author>
         <link>https://padlet.com/joseph_pastorelli308/vx86upbswzue/wish/212112722</link>
         <description><![CDATA[<div>https://www.economist.com/news/nance-and- economics/21730048-despite-curbs-outward-investment- chinese-rms-are-expanding-european </div><div>This article is about China purchasing 51.5% of the shares for a Denmark bank called Saxo Bank. Although not the rst purchase of bank from China, this sharp increase in foreign investment shows the Chinese will invest in another form rather than just their core businesses. </div><div>This article reminds me of the Bornshier reading we did on Foreign direct investment, and how FDI can cause negative and effect for richer and poorer countries. This purchase of Denmark's bank can be a negative short term growth for both countries, but may not be overall long term better for both countries. </div>]]></description>
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         <pubDate>2017-11-30 23:42:22 UTC</pubDate>
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         <title>Post #2 (October 1,2017) -- The Middle Income Spread</title>
         <author>joseph_pastorelli308</author>
         <link>https://padlet.com/joseph_pastorelli308/vx86upbswzue/wish/212112777</link>
         <description><![CDATA[<div>https://www.economist.com/blogs/graphicdetail/2017/10/d aily-chart-6 </div><div>This article is about statistics pulled from the China 2030 report published by the world bank and China that showed a relative to United States income per person a "middle-income trap" of countries remaining a crowded GDP per person category. You can have a country with 2,000% higher GDP per person and still lie in the same category and below United States. </div><div>This article reminds me of The World Systems Theory where we spoke about Core, Periphery, and Semi Periphery. We spoke about Semi-Periphery having characteristics of both core and Periphery. We saw a graph that showed little movement from changing position. </div>]]></description>
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         <pubDate>2017-11-30 23:42:54 UTC</pubDate>
         <guid>https://padlet.com/joseph_pastorelli308/vx86upbswzue/wish/212112777</guid>
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         <title>Post#3 (October 11, 2017) --Wealth Hidden In Tax Havens.</title>
         <author>joseph_pastorelli308</author>
         <link>https://padlet.com/joseph_pastorelli308/vx86upbswzue/wish/212112824</link>
         <description><![CDATA[<div>https://www.economist.com/news/nance-and- economics/21730046-even-new-data-are-patchy-and-do- not-fully-account-all-wealth-new </div><div>This article is about new data showing not all wealth is being calculated for global GDP. Economists calculate 10% of the global GDP is being held offshore. This is said to be correlated with abundance of resources, and political and economic instability. This missing calculations in GDP suggests inequality at a even higher rate then predicted. </div><div>This resonated with me with a slide we saw in class about Global inequality. The graph showed GDP more or less unequal from 1980-2010 and accounted for number of billionaires, also the net worth as % of GDP. This date from off shore GDP would skew this date to even more inequality. </div>]]></description>
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         <pubDate>2017-11-30 23:43:18 UTC</pubDate>
         <guid>https://padlet.com/joseph_pastorelli308/vx86upbswzue/wish/212112824</guid>
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         <title>Post#4 (October 11, 2017) -- Cronyism.</title>
         <author>joseph_pastorelli308</author>
         <link>https://padlet.com/joseph_pastorelli308/vx86upbswzue/wish/212112860</link>
         <description><![CDATA[<div>https://www.foreignaffairs.com/articles/world/2017-07- 19/capitalism-did-not-win-cold-war </div><div>This article talks about Cronyism and how it may be the winner post- World War II. Cronyism is dened as a separate system of capitalism and open market economies. This sometime including collusion, markets can undermine democracy in business, and assist large economy players. Congress, elected ofcials can be controlled through these large economic players. </div><div>This article reminds me of Comparative Institutionalism. We spoke about how rms use unique attributes to nd a protable place in global market. This no "one size ts all" shows that not every country can run their economy like the western societies. Prot can be made through other economic spectrums like cronyism. </div>]]></description>
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         <pubDate>2017-11-30 23:43:38 UTC</pubDate>
         <guid>https://padlet.com/joseph_pastorelli308/vx86upbswzue/wish/212112860</guid>
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         <title>Post#5 (October 11, 2017) -- Trump and The Economy.</title>
         <author>joseph_pastorelli308</author>
         <link>https://padlet.com/joseph_pastorelli308/vx86upbswzue/wish/212112918</link>
         <description><![CDATA[<div>https://www.foreignaffairs.com/articles/united-states/2017- 02-13/trump-and-economy </div><div>This article speaks of President Trumps main economic idea to increase GDP growth to 3-4%. Through competitive corporate tax rates, reducing regulation, increasing domestic production, and better trade policies. These new policies </div><div>would make America a more attractive destination for investment, and would create a more stable work force. </div><div>This article reminded me of the video we watched about investment in Iceland and how more appealing the reduction of tax rates and trade policies were for companies looking to make a move for their company. The video showed how productivity would increase worker market for employment. </div><div><figure class="attachment attachment--preview"><img width="260" height="0"><figcaption class="attachment__caption"></figcaption></figure> <figure class="attachment attachment--preview"><img width="117" height="0"><figcaption class="attachment__caption"></figcaption></figure></div>]]></description>
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         <pubDate>2017-11-30 23:44:05 UTC</pubDate>
         <guid>https://padlet.com/joseph_pastorelli308/vx86upbswzue/wish/212112918</guid>
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         <title>Post#6 (November 1st) -- How to Spot Next Crisis.</title>
         <author>joseph_pastorelli308</author>
         <link>https://padlet.com/joseph_pastorelli308/vx86upbswzue/wish/212114098</link>
         <description><![CDATA[<div><a href="https://www.economist.com/blogs/buttonwood/2017/11/markets">https://www.economist.com/blogs/buttonwood/2017/11/markets</a><br><br>This article talks about how credit markets are riskier and less liquid than they were in 20087-2008 (the crash) They compare bonds from the crash that were A ratings or above and the reduction of 60% in the past five years. This lower grade makes banks less willing to devote capital to market making.<br><br>This article reminds be of the movie the big short and the housing crash in 2007. Eisman bets against the subprime mortgage bonds. I relate this to this article as banks are less likely to take on this risk from data in the last five years. The AAA ratings are not as abundant as they were during the time of the crash.</div>]]></description>
         <enclosure url="" />
         <pubDate>2017-11-30 23:54:22 UTC</pubDate>
         <guid>https://padlet.com/joseph_pastorelli308/vx86upbswzue/wish/212114098</guid>
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         <title>Post #7 (November 1st, 2017) -- Trump: Trade War</title>
         <author>joseph_pastorelli308</author>
         <link>https://padlet.com/joseph_pastorelli308/vx86upbswzue/wish/212115582</link>
         <description><![CDATA[<div><a href="https://www.foreignaffairs.com/articles/united-states/2017-10-10/trumps-trade-war-begins">https://www.foreignaffairs.com/articles/united-states/2017-10-10/trumps-trade-war-begins</a><br><br>This article talks about Presidents Trumps strategy for trade. He wants to do away with chapter 19, the agreement stating that anti-dumping measures are subject to dispute settlement. They also speak about Trumps open non respect for the WTO. This trade strategy threatens to abandon formal commitments for US and he wants to create new trade barriers.<br><br>This article resonated with the topic of trade from the class. What i found interesting is that Trump is attempting to "protect" the United States, but what we learned is that economists and sociologists say trade is good for the economy. His deliberate force to "protect" the US is losing our biggest trade partners as they would rather look elsewhere. </div>]]></description>
         <enclosure url="" />
         <pubDate>2017-12-01 00:09:19 UTC</pubDate>
         <guid>https://padlet.com/joseph_pastorelli308/vx86upbswzue/wish/212115582</guid>
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         <title>Post#8 (November 27, 2017) -- Russian/Saudi Relations.</title>
         <author>joseph_pastorelli308</author>
         <link>https://padlet.com/joseph_pastorelli308/vx86upbswzue/wish/212721694</link>
         <description><![CDATA[<div><a href="https://www.foreignaffairs.com/articles/saudi-arabia/2017-10-10/will-russian-saudi-relations-continue-improve">https://www.foreignaffairs.com/articles/saudi-arabia/2017-10-10/will-russian-saudi-relations-continue-improve</a><br><br>This article is about Salman (Saudi Arabia Leadership) and Putin (President Russian) came together to sign documents on energy, trade and defense. These agreements also was an agreement of several billion dollars of joint investment. This article spoke about the long history of Russia and Saudi Arabia tension. The article speaks about how Saudi Arabia is a "useful card" to use against the US. <br><br>The article reminded me of our lecture on Bulgaria and EU. Bulgaria was unable to join the EU because of "dead" ties to the Russians. They had to decommission their nuclear plants to eventually join. This article Saudi Arabia still had "cold war tensions" with Russia and needed to seem them invest in their country to open communication between the two countries.</div>]]></description>
         <enclosure url="" />
         <pubDate>2017-12-04 07:06:17 UTC</pubDate>
         <guid>https://padlet.com/joseph_pastorelli308/vx86upbswzue/wish/212721694</guid>
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         <title>Post #9 (November 28th, 2017) Mongolia</title>
         <author>joseph_pastorelli308</author>
         <link>https://padlet.com/joseph_pastorelli308/vx86upbswzue/wish/212722933</link>
         <description><![CDATA[<div><a href="https://www.foreignaffairs.com/articles/mongolia/2017-06-23/mongolia-heads-polls">https://www.foreignaffairs.com/articles/mongolia/2017-06-23/mongolia-heads-polls</a><br><br>This article is how during the presidential election for Mongolia this year they're at highs of corruption, inequality, and poverty. Mongol banks had lost 1.5 billion and 50% of the government budget. This overall loss in GDP makes Mongolia reliant on other countries, such as China, for resources. The article also speaks about two parties running the Mongolian peoples revolutionary party (platform for income disparities) and the democratic party. Early polls shown people are fed up with power from democratic party and want change.<br><br>This article reminded me of shock therapy. The article talks about the early 1990's the and the IMF and other banks return for loans and how this prompted the current problem in Mongolia. Similarly, when we spoke about Europe countries that were tied to communism and how countries such has Bulgaria struggled because they gave up communism and attempted to go right into capitalism. For example, this formed political instability and issues with who owned what land. </div>]]></description>
         <enclosure url="" />
         <pubDate>2017-12-04 07:16:04 UTC</pubDate>
         <guid>https://padlet.com/joseph_pastorelli308/vx86upbswzue/wish/212722933</guid>
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         <title>Post #10 (November 29th 2017) -- The Real Jobs Crisis.</title>
         <author>joseph_pastorelli308</author>
         <link>https://padlet.com/joseph_pastorelli308/vx86upbswzue/wish/212725643</link>
         <description><![CDATA[<div><a href="https://www.foreignaffairs.com/articles/united-states/2017-03-16/real-american-jobs-crisis">https://www.foreignaffairs.com/articles/united-states/2017-03-16/real-american-jobs-crisis</a><br><br>This article talks about the employment rate in America and how it has decreased. The article attributes the decline in employment to the great recession, less government jobs, and decline in manufacturing jobs in America. Instead of manufacturing in America, China is seen as a trade alley for many resources needed. Also they note the private service employment growth has slowed and they attributed this to US economic growth as slowed, new business creation is down, leverage over employees, and lack of progress of United States. <br><br>This article reminded me of the movie China Blue. During the movie, workers were paid by the piece and would only make approximately $20 in an entire months worth of pay. This shows correlation with this article because the amount businesses pay their laborers in China is significantly cheaper than the United States. This causes the United States to buy foreign rather than spend more funds paying labor in country. </div>]]></description>
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         <pubDate>2017-12-04 07:32:25 UTC</pubDate>
         <guid>https://padlet.com/joseph_pastorelli308/vx86upbswzue/wish/212725643</guid>
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