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East Asia and Pacific

Mapping the global future

Mapping the Global Future' is the latest unclassified report from the US National Intelligence Council. This forward-looking scenario based report focuses on the contradictions of globalization, the impact of the rise of China and India, and new security risks. More on specific topics below the fold.

Who are China’s entrepreneurs?

Controlling for institutional environment, entrepreneurs in China are much more likely to have family members who are entrepreneurs as well as childhood friends who became entrepreneurs, suggesting that social environment plays an important role in entrepreneurship. Entrepreneurs also differ strongly from non-entrepreneurs in their attitudes toward risks and their work-leisure preferences, echoing Schumpeter.

Responsible competitiveness

Socially responsible business has increasingly become a topic of conversation in the boardrooms of large firms. But can responsible business practices be leveraged to increase the competitiveness of not just firms but also sectors and countries?

Red tape is like a teddy bear

Red tape is the unloved enemy of reason. At least, that is the orthodoxy... On the one hand, we publicly rail against it. But on the other, there are many who privately benefit from complex and excessive regulation. It supports an industry of regulatory consultants and can act as a convenient barrier to market entry…

Free markets and conflict

The great virtue of a free market is that it enables people who hate each other, or who are from vastly different religious or ethnic backgrounds, to cooperate economically.

That’s Milton Friedman. Via Tyler Cowen.

A country’s economic litmus test

An economic litmus test is not whether a country can attract a lot of FDI but whether it has a business environment that nurtures entrepreneurship, supports healthy competition and is relatively free of heavy handed political intervention. In this regard, India has done a better job than China.