World's Central Banker
Total Page:16
File Type:pdf, Size:1020Kb
ww Capital Finance International AS WORLD ECONOMIES CONVERGE Spring 2017 GBP 9.95 // EUR 14.95 USD 15.95 Janet Yellen, Chair of the Board of Governors of the Federal Reserve System: WORLD’S CENTRAL BANKER ALSO IN THIS ISSUE // WORLD BANK: GLOBAL GROWTH REVERSAL // NASDAQ: ESG REPORTING WBG: SWFs GOING GREEN // EIB: EUROPE’S INVESTMENT OFFENSIVE IS WORKING IFC: ENERGY STORAGE & EMERGING MARKETS // E&Y ARGENTINA: MEASURES TO IMPROVE EMPLOYMENT BREITLING.COM The superlative-charged chronograph. 50 mm case in Breitlight®. Exclusive Manufacture Breitling Caliber B12 with 24-hour military-style display. Offi cially chronometer-certifi ed. 2 CFI.co | Capital Finance International BR18462_Avenger Hurricane_420x281_IFC.indd Toutes les pages 16/02/2017 08:50 Spring 2017 Issue BREITLING.COM The superlative-charged chronograph. 50 mm case in Breitlight®. Exclusive Manufacture Breitling Caliber B12 with 24-hour military-style display. Offi cially chronometer-certifi ed. CFI.co | Capital Finance International 3 BR18462_Avenger Hurricane_420x281_IFC.indd Toutes les pages 16/02/2017 08:50 For those who are driven. T he new Flying Spur V8. Performance and determination have helped deliver you success. Now stay ahead with cutting edge technology in a handcrafted interior – all serenely positioned behind a 4.0 litre V8 engine that can carry you to 183 mph and propel you to 60 mph in less than five seconds. 4 CFI.co | Capital Finance International The name ‘Bentley’ and the ‘B’ in wings device are registered trademarks. © 2015 Bentley Motors Limited. *Fuel consumption figures subject to Type Approval and EPA Approval. Model shown: Flying Spur V8. Spring 2017 Issue Flying Spur V8 fuel consumption – EU Drive Cycle* in mpg (l/100 km): Urban 18.4 (15.4); Extra Urban 36.7 (7.7); Combined 26.8 (10.6). CO2 Emissions 246 g/km. EPA Drive Cycle* in USmpg: City driving 15.0; Highway driving 24.0; Combined 18.0. For more information call +44 (0)845 689 1629 from UK, +1 (0)866 369 4450 from USA or +44 (0)117 244 1804 from elsewhere CFI.co | Capital Finance International or visit www.bentleymotors.com. #FlyingSpurV85 The name ‘Bentley’ and the ‘B’ in wings device are registered trademarks. © 2015 Bentley Motors Limited. *Fuel consumption figures subject to Type Approval and EPA Approval. Model shown: Flying Spur V8. ENGINEERED FOR MEN WHO LIVE THE DREAMS THAT OTHERS CHASE. Pilot’s Watch Double Chronograph Edition commemoration of the countless hours he spent conquering the “Antoine de Saint Exupéry”. Ref. 3718: Our dreams are the skies in his P-38 Lightning, a reminiscence of aviation at its truest navigators that pilot us through life’s deeps and shallows. But on- and most original, which the professional pilot and writer cham- ly few of us have the courage to pursue them. Antoine de pioned throughout his life. It was only here that he found the in- Saint-Exupéry, on the other hand, possessed a rare gift that al- spiration for his literary oeuvre, whose poetry touched people all lowed him to discover the world without fear of the unknown and over the world and whose timeless elegance is echoed in the de- gave him the strength to make his dreams come true. With this sign of this wristwatch. Available in a limited edition of 1000, it masterpiece of the watchmaker’s art, IWC expresses its pro- celebrates the passion and lust for adventure that is intrinsic to found admiration for a man who enchanted the world with his un- every dream. And reminds us every second to boldly live out our fettered imagination. The watch’s split-second chronograph is a dreams. IWC. ENGINEERED FOR MEN. JOIN THE CONVERSATION: #B_ORIGINAL IWC SCHAFFHAUSEN BOUTIQUES: PARIS | LONDON | ROME | MOSCOW | NEW YORK | BEIJING | DUBAI | HONG KONG | GENEVA | ZURICH IWC.COM For more information please call +41 52 635 63 63 or contact [email protected] 2009905_XC6A_420x281_d_crp_ZS_4c_en.indd Alle Seiten 14.10.16 14:27 ENGINEERED FOR MEN WHO LIVE THE DREAMS THAT OTHERS CHASE. Pilot’s Watch Double Chronograph Edition commemoration of the countless hours he spent conquering the “Antoine de Saint Exupéry”. Ref. 3718: Our dreams are the skies in his P-38 Lightning, a reminiscence of aviation at its truest navigators that pilot us through life’s deeps and shallows. But on- and most original, which the professional pilot and writer cham- ly few of us have the courage to pursue them. Antoine de pioned throughout his life. It was only here that he found the in- Saint-Exupéry, on the other hand, possessed a rare gift that al- spiration for his literary oeuvre, whose poetry touched people all lowed him to discover the world without fear of the unknown and over the world and whose timeless elegance is echoed in the de- gave him the strength to make his dreams come true. With this sign of this wristwatch. Available in a limited edition of 1000, it masterpiece of the watchmaker’s art, IWC expresses its pro- celebrates the passion and lust for adventure that is intrinsic to found admiration for a man who enchanted the world with his un- every dream. And reminds us every second to boldly live out our fettered imagination. The watch’s split-second chronograph is a dreams. IWC. ENGINEERED FOR MEN. JOIN THE CONVERSATION: #B_ORIGINAL IWC SCHAFFHAUSEN BOUTIQUES: PARIS | LONDON | ROME | MOSCOW | NEW YORK | BEIJING | DUBAI | HONG KONG | GENEVA | ZURICH IWC.COM For more information please call +41 52 635 63 63 or contact [email protected] 2009905_XC6A_420x281_d_crp_ZS_4c_en.indd Alle Seiten 14.10.16 14:27 Editor’s Column Illiberalism and answered with hostility. Free and frank debate is being replaced with pussyfooting and the application of euphemisms: let’s not say what we mean, but merely transmit ready-packed and pre-approved opinion. Of course, this is not what liberalism stands for. Take hint from someone whose political correctness is beyond reproach: former Dutch Green Party leader Femke Halsema, now sadly lost to politics, who repeatedly stood up in parliament to apply a verbal lashing to fellow parliamentarians whenever they tried to silence the country’s xenophobe-in- chief Geert Wilders. Ms Halsema, who disagrees In the US and Europe, students have embraced with Mr Wilders on virtually every topic, time and progressive values to a degree that would put the again assured colleagues suffering a severe bout of bearded rebels of yesteryear to shame. However, political correctness that she would fight tirelessly today’s self-described liberals are nothing of the for her opponent’s right to freely express his sort: most eschew free speech, clamp down on opinions – however loathsome they happen to be. thought deemed deviant, and refuse to entertain any notion that goes against the grain. In the UK, classicist Mary Beard of Cambridge University has rallied more than once against the According to the Higher Education Research guardians of political correctness and encouraged Institute of the University of California, fully 70% students to question their holier-than-thou mores. of the 2015 freshmen agrees with the statement In his recent exposé on the assault on free speech that speech deemed racist and/or sexist should in the West, British journalist Mick Hume noted be banned from campus. More 40% of first year that only months after the murder of Charlie Hebdo students do not wish to hear “extreme speakers”. cartoonists in Paris, commentators were already The damning labels are mostly applied by those advocating for limits on free speech – including with – pardon the pun – extreme sensitivities. the right to be offensive – in order to avoid future Thus, Managing Director Christine Lagarde of massacres. Safety, apparently, comes before the International Monetary Fund was barred freedom. Online, “twitch hunts” are now regularly from delivering a commencement speech at organised to shut out and shut up tweeters who Smith College whilst former Secretary of State express the “wrong” opinion. Trigger warnings, an Condoleezza Rice received a disinvitation from American invention that aims to protect the sensitive Rutgers University after some students objected to student from possibly offensive texts, have spread to her doing the honours. Europe and the Internet. Academics who dare question the students’ growing The University of Chicago is now, thankfully, illiberalism are marginalised, shunned, and, in some pushing back and welcoming its freshmen with a cases, have their careers ruined. The students, letter that makes it abundantly clear that trigger meanwhile, have created “safe zones” that are free warnings and safe spaces are not supported and, in of the vices they battle in the outside world. At some fact, not available. Students are advised to expect, 75 US universities students have presented long lists and engage in, rigorous debate that may “at times of demands that include such esoteric phenomena may challenge you and even cause discomfort”. In as mandatory diversity sensitivity training for other words: grow up and deal with whatever chip academia, speech codes, and public apologies rests on your shoulder. for perceived past transgressions. In other words, the demands are to be implemented retroactively. The blunt message from Chicago is refreshing – and History, it seems, needs to be subjected to revisions much-needed: this is not at all about exclusion or and purged from potentially offensive events. While disrespect. Rather, the University of Chicago expects at it, why not establish a Ministry of Truth and adopt its students to prepare for survival in the real world newspeak as the lingua franca? with all its ills. By all means, strive for a better and kinder world, denounce bigotry, and fight it with all Whilst students are supposed to question – and your might: just don’t silence your opponents. In an possibly undermine – the status quo, their ethereal all-inclusive liberal democracy, that is about the sense of liberalism, now in vogue, does not bode only thing which remains “verboten”.