Links September 4

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Global Macro:

  • Why dictatorships build stuff that crumbles. Jay Ulfelder
  • And why democracies get into so much debt. The Economist
  • So which is the best system of government? Unsurprisingly, it’s Sweden’s. Der Spiegel.
  • Meanwhile in Tehran, non-alignment gets a new lease of life. Bloomberg

United States:

Europe:

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  • Use a European Banking Union as the condition for rescue, Mr Draghi. Wolfgang Munchau
  • And make it quick, before Greece is beyond help. Financial Times. Already, only 26% of Germans believe the loans will be repaid.
  • Meanwhile, David Cameron eyes a cabinet reshuffle. Guardian. Or is that eyes a deckchair reshuffle?
  • Europe has reached a make or break point: Barroso. Wall Street Journal. How many times has he said that before?

Asia:

  • China hype is giving way to realism. Michael Pettis in Lowy Interpreter
  • And the article he was responding to. Stephen Grenville in ibid.
  • Asia’s manufacturing slump deepens. Wall Street Journal
  • Hu Jintao ally Ling Jihua sidelined. Bloomberg. The horse trade continues.
  • Chinese skyscraper boom is a ‘craze’, ‘inadvisable’. Xinhua
  • China’s steel traders expose banks’ bad debts. Reuters
  • How the Party polices its own. The Economist
  • Check back later for our very comprehensive China links by Sinocism

Local:

  • RBA grapples with the post-boom reality. Wall Street Journal. It’s what everyone is talking about: how did they not see it coming?
  • Aussie retail sales fall by biggest margin since 2010. Bloomberg
  • Goodman Fielder to sell or close at least 15 factories. The Australian
  • And Julia Gillard announces education ‘crusade’. Financial Review
  • Etihad doubles its Virgin Australia stake. Business Day. Do they read Macro Investor?

Other:

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  • Pirate Bay co-founder arrested in Cambodia. Wall Street Journal. Faces extradition in Sweden, just like old mate Assange.
  • Obituary: Sun-Myung Moon, 1920-2012. Time
  • And what will Rev. Moon’s death mean for the Washington Times? Washington Post. Conspiracy theories will never be the same again. RIP.
  • How Syria’s rural economy is adapting to ongoing war. Reuters