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3/4/2021 12:56:55 PM GMT
Intercapitalist rivalries ebb and flow and shaped modern history more than many may
realize. Recall that Nixon unilaterally severed the dollar s last ties to gold, not because of the Soviet Union. America s capitalist allies in Europe demanded gold for their dollars, accumulating from aid, foreign direct investment, and trade.
A couple years after the collapse of Bretton Woods, the Trilateral Commission was formed to ensure greater dialogue among the three large capitalist camps: North America, Europe, and Japan. David Rockefeller founded the group, and among the founding members were Paul Volcker and Alan Greenspan. Although current officials cannot be members, over the years, numerous prestigious former officials have been members, and in fact, former ECB President Trichet serves as the European Chair.
Economists Gary Smith and John Nugée, state in a recent note : “Addressing the economic consequences of the pandemic and implementing a green energy agenda are issues an order of magnitude larger, and more global in their reach, than the world has seen in modern economic history.”
The scale of these challenges is enormous and urgent, they argue. It requires the mobilisation of the full fiscal and savings resources of every nation, including national foreign exchange (FX) reserves. While sovereign wealth funds (SWFs) are a source with about $8.5trn (€7.0trn) of assets, according to the Official Monetary and Financial Institutions Forum (OMFIF), a think tank, global FX reserves are about $14trn. That is equivalent to 20% of global output.
| UPDATED: 08:25, Sun, Feb 28, 2021
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On January 1, the post-Brexit transition period expired, meaning EU rules no longer apply in Britain. It is a new chapter for the country’s history – as for the last 48 years, EU membership had constricted Britain’s ability to make its own decisions and set policies. The journey there was not an easy one, as Brexit day was preceded by a debilitating political period that bitterly divided the nation.
This article is part of The Goodness Issue, a special edition of The Grocer dedicated to celebrating the work the grocery industry has done to tackle environmental, political and humanitarian issues facing the world today
No politics at the dinner table, please. For a long time, that was the unwritten rule for almost all food and drink brands.
In the past few years, though – and the past 12 months, in particular – this rule seems to have flown out the window.
“Now it’s becoming a consumer expectation,” says Christina Miller, connections director at VMLY&R, “that brands not only talk the talk but walk the walk when it comes to activism, no matter the category.”