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Important News, Belangrijke nieuws, Nouvelles importantes, Wichtige News, Fontos hírek, Importanti novitŕ, Pomembne novice, Importante Notícias, Viktiga nyheter



Ing. Salih CAVKIC
orbus editor in chief

Belang van Limburg
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De Standard
Het Laatste Nieuws
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VRT
VRTNieuws

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Deutsche Welle
West-D. Zeitung


The man of the year

Guy Verhofstadt
Mr. Guy Verhofstadt

The man of the year
L'homme de l'an
De man van het jaar
2009


A proven Democrat, protector and fighter for justice and human rights in the World.

Een bewezen Democraat, beschermer en strijder voor rechtvaardigheid en mensenrechten in de Wereld.

Un prouvé démocrate, protecteur et combattant pour la justice et des droits de l'homme dans le Mond.

Eine bewährte Demokrat, Beschützer und Kämpfer für Gerechtigkeit und Menschenrechte in der Welt.

Dokazani demokrat,
 zaštitnik i borac za pravdu i ljudska prava u Svijetu.




The man of the year

Guarantee
Peace in the World


Mr. Barak Hossein Obama

The man of the year
L'homme de l'an
De man van het jaar
2012


Guarantee
peace in the world

Garantie
vrede in de wereld

Garantie
la paix dans le monde

Garantie des Friedens in der Welt

Zabezpečenie
mieru vo svete

Garancija
mira u svijetu





Murray Hunter
University Malaysia Perlis



Perpetual Self conflict: Self awareness as a key to our ethical drive, personal mastery, and perception of entrepreneurial opportunities.
Murray Hunter




The Continuum of Psychotic Organisational Typologies
Murray Hunter




There is no such person as an entrepreneur, just a person who acts entrepreneurially
Murray Hunter




Groupthink may still be a hazard to your organization - Murray Hunter



Generational Attitudes and Behaviour - Murray Hunter



The environment as a multi-dimensional system: Taking off your rose coloured glasses - Murray Hunter



Imagination may be more important than knowledge: The eight types of imagination we use - Murray Hunter



Do we have a creative intelligence? - Murray Hunter



Not all opportunities are the same: A look at the four types of entrepreneurial opportunity - Murray Hunter



   The Evolution of Business Strategy - Murray Hunter



How motivation really works - Murray Hunter



Evaluating Entrepreneurial Opportunities: What’s wrong with SWOT? - Murray Hunter



 The five types of thinking we use - Murray Hunter



Where do entrepreneurial opportunities come from? - Murray Hunter



  How we create new ideas - Murray Hunter



How emotions influence, how we see the world? - Murray Hunter



People tend to start businesses for the wrong reasons - Murray Hunter



One Man, Multiple Inventions: The lessons and legacies of Thomas Edison - Murray Hunte


   
Does Intrapreneurship exist in Asia? - Murray Hunter



 What’s with all the hype – a look at aspirational marketing - Murray Hunter



   Integrating the philosophy of Tawhid – an Islamic approach to organization - Murray Hunter



Samsara and the Organization - Murray Hunter



Do Confucian Principled Businesses Exist in Asia? - Murray Hunter



 Knowledge, Understanding and the God Paradigm - Murray Hunter



On Some of the Misconceptions about Entrepreneurship - Murray Hunter




How feudalism hinders community transformation and economic evolution: Isn’t equal opportunity a basic human right? - Murray Hunter



The Dominance of “Western” Management Theories in South-East Asian Business Schools: The occidental colonization of the mind. - Murray Hunter



Ethics, Sustainability and the New Realities - Murray Hunter



The Arrival of Petroleum, Rockefeller, and the Lessons He taught Us - Murray Hunter - University Malaysia Perlis



 Elite educators idolize the “ high flying entrepreneurs” while deluded about the realities of entrepreneurship for the masses: - Murray Hunter



Lessons from the Invention of the airplane and the Beginning of the Aviation Era - Murray Hunter



Missed Opportunities for ASEAN if the ASEAN Economic Community (AEC) fails to start up in 2015 - Murray Hunter



The high Australian Dollar: Whose interests is the Reserve Bank of Australia looking after?

Murray Hunter



With an Australian dollar 10% overvalued according to an IMF official[1], and interest rates being among the highest in the world, maybe it's time to ask the question; Whose interests are the Reserve Bank of Australia (RBA) looking after? 

The RBA has so much influence over the Australian economy. It is solely responsible for Australia's monetary policy and supervising the banking system. But what may be of surprise to many is that the RBA is an autonomous body. Furthermore, the RBA is not directly accountable to the Australian people.

The Reserve Bank of Australia was formed in 1960 to take over the role of banknote issuing authority from the Commonwealth Bank. The Reserve Bank initially supervised the banks. However from 1 July 1998, the banking supervision function was transferred from the RBA to the newly created Australian Prudential Regulation Authority. The Reserve Bank Act was amended also to create a new Payments System Board, with a mandate to promote the safety and efficiency of the Australian payments system. New legislation, the Payment Systems (Regulation) Act 1998 and the Payment Systems and Netting Act 1998 were introduced, giving the Bank relevant powers in this area.

The Reserve Bank Board's obligations with respect to the formulation and implementation of monetary policy are laid out in the Reserve Bank Act. Section 10(2) of the Act states:

‘It is the duty of the Reserve Bank Board, within the limits of its powers, to ensure that the monetary and banking policy of the Bank is directed to the greatest advantage of the people of Australia and that the powers of the Bank ... are exercised in such a manner as, in the opinion of the Reserve Bank Board, will best contribute to:
(a) the stability of the currency of Australia;
(b) the maintenance of full employment in Australia; and
(c) the economic prosperity and welfare of the people of Australia’[2].

From 1993, the Reserve Bank formally focused on the objective of price stability where inflation was to be held to an average of 2-3 per cent over a period of years.

In December 2007, following the change of Government, a new Statement on the Conduct of Monetary Policy was jointly issued by the new Treasurer  Wayne Swan, and the Governor of the Reserve Bank, Glenn Stevens. This Statement incorporated substantive amendments enhancing the independence of the Reserve Bank and covered practices regarding transparency and communication. A revised Statement on the Conduct of Monetary Policy was issued following the 2010 election, which explicitly covered the Reserve Bank's mandate for financial stability[3]. Effectively the Reserve Bank of Australia became fully autonomous.

The Reserve Bank Board is made up of nine members which includes the three ex officio members of the Board, consisting of the Governor of the Reserve Bank, who is Chairman of the Board, the Deputy Governor of the Reserve Bank, who is the Deputy Chairman of the Board, and the Secretary to the Treasury. In addition, there are six external members who are appointed by the Treasurer for a period of five years. The board normally meets eleven times each year, where one of the responsibilities is to set official interest rates (the overnight bank cash rate).

The power of the RBA over Australia's economy is immense. Public pronouncements by the bank governor can stir stock and currency markets. Those decisions are made by an independent board who get their advice from both formal and informal sources that are undisclosed. This lack of any transparency in decision making can run potential conflict. Former Prime Minister John Howard blamed the Reserve Bank for his election loss in 2007, accusing the bank of meddling in domestic politics by announcing a rate rise[4].

If one undertakes a very quick internet search on the current RBA board members, it will be found that the directors have links to multinationals, media, right wing think tanks, and other foreign interests[5]. The Reserve Bank Governor Glenn Stevens, portrayed by the Australian Financial Review as the most powerful man in Australia is an avid New American Standard Bible reader[6].

Who is appointed the board in order to ensure that the monetary and banking policy of the Bank is directed to the greatest advantage of the people of Australia? There is no provision that the RBA board have any representative to specifically look after the public interest. Nor are there any representatives to represent small business and Australian wage earners.

So what is the state of the economic and financial environment the RBA has been stewarding on behalf of the Australian people?

The RBA has allowed the Australian Dollar to rise to record highs against the US Dollar and other currencies. Although this reflects some weakness in the US Dollar, the Australian Dollar is high in its own right and is attracting inflows from investors wishing to benefit from relatively high interest rates in Australia. The high Australian Dollar although making imports cheaper is keeping a check on domestic inflation. However this is putting Australian exports in a precarious position, where industries are being devastated. This is costing many thousands of jobs. Rural industries in Australia are also finding it very tough competing against cheap primary produce imports. This could cause the shut down many rural industries all together in the not too distant future. Local manufacturers have been crippled in many industries, while import orientated businesses have flourished. Australian business models today are more focused on developing overseas supply chains rather than innovating new technologies.

The higher Australian Dollar is also making Australian Universities more expensive for foreign students, where drops in enrollments are occurring[7], and a there is also a decline in foreign tourists visiting Australia[8], and more Australians holidaying overseas[9].

There are no doubts that the high valued Australian Dollar is forcing a restructuring of the Australian economy, if not Australian society as a whole. The resources boom saved Australia from a recession in 2008, and is keeping the economy buoyant today. However by allowing the Australian economy to become too narrowly focused on resource exploitation, the manufacturing and farm sectors have become almost squeezed out of existence. This to some degree has been replaced by a large service sector to absorb employment.

The high dollar has created wealth for Australia, as the pundits claim, however wealth is also been redistributed away from middle Australia, which is reflected in the slowly rising unemployment rate. Although a high dollar keeps down inflation, the high costs of this are starting to show.

The combined effects of financial deregulation, the high Australian dollar, and the relatively high interest rates the RBA sets comparatively to the rest of the world[10], is attracting money from all around the world into Australian bonds. The big four banks are having a bonanza as their bonds are guaranteed by the RBA. With AAA credit ratings, the big four are able to borrow from the RBA at the best rates. The big banks are able to issue bonds that are secured with assets where the smaller banks cannot, thus greatly disadvantaging the smaller banks.

Over the last few months the major banks have been able to raise more than $20 Billion of new funding through their AAA-rated covered bonds to government and other investors all around the world[11].

The Government action of guaranteeing private banks has created a "moral hazard" where the banks are insured on the assumption of being too big to fail. History has shown this as a recipe for irresponsible behavior. Today the scenario exists where the tradeoff between risk and return has been eliminated. In Australia, the lower risk banks with the highest credit ratings are able to provide higher returns than the smaller banks with the lowest credit ratings, a complete reversal of the inverse relationship between risk and return, that the Australian taxpayer has guaranteed[12].

Today in Australia, responsibility for economic policy is divided between an elected government, which exercises fiscal measures, and the RBA which exercises monetary measures. The rationale for this is to take away the temptation for elected governments to manipulate monetary policy for electoral advantage. However in the light of the recent EU financial crises, this division should be reviewed to prevent any potential financial crisis occurring in Australia, no matter how remote this possibility may appear today.

We are likely to witness and example of policy conflict between the Government and RBA in the coming months. Due to the election this year, the Australian Government is under great pressure to deliver a surplus budget. The RBA policy on maintaining a comparatively high interest rate, at a time the government is cutting spending may lead to an economic slowdown, if the RBA board doesn't take action to lower rates further to compensate for the government's fiscal actions. How the RBA handles this will be interesting.

This leaves Australia in a medium to long term predicament, in need of national debate. Today the Australian economy is being driven by the longest commodity boom the country has seen. This is being driven by urbanization in China, but this will not last forever, just like the gold rushes of the 1800s, and wool boom in the 1950s.

Australian society has changed into a service society, without much of an innovation base. The nature of the Australian economy has become dangerously narrow. The increasing relative wealth of Australians is covering up the need for Australian policy makers to discuss the future direction of Australia's economy. New industries that maintain high levels of employment need to be created.

Today, it is apparent that structural change within the Australian economy has been left entirely up to the board of the RBA to decide. There is not much time to prepare for the end of the mining boom. This national discussion must be held sooner rather than later. If Australia faces an economic downturn from a resource bust, then the economy would most likely lunge into a deep recession. The existing service economy would also collapse, where there will be no sector capable of driving the economy out of recession.

Although interest rates are heading down, closing the parity gap between Australia and the rest of the world, this will probably have little effect on the Australian dollar. This means that manufacturing and construction will continue to decline, putting more pressure on unemployment over the next twelve months. This may assist in making housing relatively more affordable for Australians, but only marginally so, much less than the RBA would be hoping for to compensate for the slowdown within the mining sector. This could result in lower economic growth than is expected, as lowering interest rates will have little effect on consumers already high in debt. This may force the RBA to intervene directly in over the value of the Australian dollar, something the RBA Governor Glenn Stevens would be very hesitant to do[13].

Perhaps the RBA's profits and surpluses could be ploughed into a sovereign wealth fund on behalf of Australia, in a similar manner  to the Singapore Investment Corporation (SIC). These funds could be invested into strategic overseas assets that will put downward pressure on the Australian dollar, and also assist in generating national wealth when the mineral boom starts to decline.

The benefits of a high Australian dollar are negated by the high costs of living that now exist within Australia. This negates any comparative advantage for small to medium manufacturers. The destruction of Australia's manufacturing industry requires urgent attention, as new employment opportunities must be found. Traditional employers like Holden just laid off another 500 employees within the last week[14]. There seems to be very little national debate about the underlying reasons behind the current unemployment rate of 5.6%. History shows that this is an election loser for governments. 

The RBA's policies have given the big four banks a special advantage, where bumper profits are being made[15].

We have also seen how little transparency the RBA exhibited during the Note printing bribery scandal[16], which is a worry when the Australian public are trusting this institution to run the country's monetary policy. We need to take a lesson from the banking crisis in Cyprus, as Australia is exposed to the world through a highly traded currency and vigorous bond market. Who is looking after the public interest at the RBA?

In Australia today, there is very little concern about how much influence the RBA has over the structure and future directions of the Australian economy. The future shape of what the Australian should be like in the future is a matter for national discussion. These issues are outside the brief of the RBA, but are of concern to every Australian.

Again the question can be asked, In whose interests is the RBA Board acting for?
 


References:


[1] Exchange rate forecast for Australian (AUD) and New Zealand (NZD) dollars - 'Aussie' and 'Kiwi' set to decline as both currencies are overvalued by 10%. Future Currency Forecast, April 19, http://www.futurecurrencyforecast.com/exchange-rate-forecast-for-australian-aud-and-new-zealand-nzd-dollars-aussie-and-kiwi-set-to-decline-as-imf-says-both-currencies-are-overvalued-by-10/18408

[2] Reserve Bank of Australia, A Brief History, http://www.rba.gov.au/about-rba/history/index.html

[3] Reserve Bank of Australia, "A Brief History".

[4] Howard, J., (2010), Lazarus Rising, Sydney, Harper.

[5] http://www.rba.gov.au/about-rba/boards/

[6] Haigh, G., (2012), Why Glenn Stevens is the man who really runs Australia, Financial Review, 4th August, http://www.afr.com/p/national/why_glenn_stevens_is_the_man_who_TKPAEolaFy71cPYmEMVtGL

[7]  As at year-to-date (YTD) January 2012, there were 256,087 enrolments by full-fee international students in Australia on a student visa. This represents a 10.7% decline on the same period in 2011, See:
http://www.aei.gov.au/research/InternationalStudentData/Pages/default.aspx

[8] See:http://www.treasury.gov.au/~/media/Treasury/Consultations%20and%20Reviews/2012/Business%20tax%20reform/Submissions/PDF/National_Tourism_Alliance_submission.ashx

[9] Saurine, A., (2012), Aussies Holidaying overseas in record numbers, news.com.au., February 7, http://www.news.com.au/travel/news/aussies-holidaying-overseas-in-record-numbers/story-e6frfq80-1226264698649

[10] McDonald, S., (2011), Sovereign Crisis Drives Investors to Aussie Banks Bonds: Australia Credit, Bloomberg, June 20, http://www.bloomberg.com/news/2011-06-19/sovereign-crisis-drives-investors-to-aussie-bank-bonds-australia-credit.html

[11] Uren, D., (2012), Global holdings of the Aussie dollar on the rise, The Australian, 24th September, http://www.theaustralian.com.au/business/opinion/global-holdings-of-the-aussie-dollar-on-the-rise/story-e6frg9qo-1226479846337

[12] Bouris, M., (2012), Our banks: too big to fail, too few to be competitive, The Drum, 7th February, http://www.abc.net.au/unleashed/3815636.html

[13] Full transcript of interview with RBA's Stevens, Financial Review, 19th December 2012, http://www.afr.com/p/national/economy/full_transcript_of_interview_with_INJhJlV6h1ucNaYmJN8RSP

[14] McArthur, T., (2013), Holden to lay off 500 workers, Yahoo!7Finance, April 9, http://au.finance.yahoo.com/news/holden-lay-off-500-workers-220026386.html

[15] Richardson, D., (2010), A License to Print Money: Bank Profits in Australia, The Australia Institute, Policy Brief No. 10, March, www.tai.org.au/file.php?file=/media_releases/...pdf
[16] Hunter, M., (2012), Australia "Do as I Say, Not as I Do" - The Ongoing Reserve Bank of Australia Bribery Scandal, The 4th Media, November 7, http://www.4thmedia.org/2012/11/07/australia-do-as-i-say-not-as-i-do-the-ongoing-rba-bribery-scandal/


21.04.2013.

 





PUBLICATIONS:

      Searching for an end game in the Korean Crisis - Murray Hunter

      The high Australian Dollar: Whose interests is the Reserve Bank of Australia looking after? - Murray Hunter

      Is Secretary Kerry's trip to China a "face saving" measure? - Murray Hunter

      Asia-Pacific at the Crossroads - The Implications for Australian Strategic Defense Policy - Murray Hunter

      Obama's Korean Peninsula "Game" Strategy seeks to achieve a wide range of objectives in his "Asian Pivot" - Murray Hunter

      Institute for the research of genocide - IGC Letter Regarding Vuk Jeremic Agenda in UN

      Who rules Singapore? - The only true mercantile state in the world - Murray Hunter

      The Thai Deep South: Both Malaysia and Thailand Desperately Seeking Success - Murray Hunter

      The desperate plight of Islamic education in Southern Thailand - Murray Hunte

      Who makes public policy in Malaysia? - Murray Hunter

      MENA Saga and Lady Gaga - (Same dilemma from the MENA) - Anis H. Bajrektarevic

      Australia's National Security Paper: Did it amount to lost opportunities? The policy you have when you don't have a policy - Murray Hunter

      Are "B" Schools in Developing Countries infatuated with 'Western' Management ideas? - Murray Hunter

      The Stages of Economic Development from an Opportunity Perspective: Rostow Extended - Murray Hunter

     
Who Really Rules Australia?: A tragic tale of the Australian People - Murray Hunter

      Europe: Something Old, Something New, Something Borrowed, and Something Blue - Murray Hunter

      Back to the future: Australia's "Pacific Solution" reprise - Murray Hunter

      Hillary to Julia "You take India and I'll take Pakistan", while an ex-Aussie PM says "Enough is enough with the US" - Murray Hunter

     
Entrepreneurship and economic growth? South-East Asian governments are developing policy on the misconception that entrepreneurship creates economic growth. - Murray Hunter

      FOCUSING ON MENACING MIDDLE EAST GEOPOLITICAL ENVIRONMENTS, ENDANGERING SECURITY AND STABILITY OF WESTERN BALKAN* - Brig Gen (Rtd) Dr. Muhammad Aslam Khan, Pakistan

     
Australia "Do as I say, not as I do" - The ongoing RBA bribery scandal - Murray Hunter

      Australia in the "Asian Century" or is it Lost in Asia? - Murray Hunter

      Surprise, surprise: An Islam economy can be innovative - Murray Hunter

      Do Asian Management Paradigms Exist? A look at four theoretical frames - Murray Hunter

      What China wants in Asia: 1975 or 1908 ? – addendum - prof. dr. Anis Bajraktarević

      ASEAN Nations need indigenous innovation to transform their economies but are doing little about it. - Murray Hunter

      From Europe, to the US, Japan, and onto China: The evolution of the automobile - Murray Hunter

      Missed Opportunities for ASEAN if the ASEAN Economic Community (AEC) fails to start up in 2015 - Murray Hunter

      Lessons from the Invention of the airplane and the Beginning of the Aviation Era - Murray Hunter

      Elite educators idolize the “ high flying entrepreneurs” while deluded about the realities of entrepreneurship for the masses: - Murray Hunter

      The Arrival of Petroleum, Rockefeller, and the Lessons He taught Us - Murray Hunter - University Malaysia Perlis

      Ethics, Sustainability and the New Realities - Murray Hunter

      The Dominance of “Western” Management Theories in South-East Asian Business Schools: The occidental colonization of the mind. - Murray Hunter

      How feudalism hinders community transformation and economic evolution: Isn’t equal opportunity a basic human right? - Murray Hunter

      On Some of the Misconceptions about Entrepreneurship - Murray Hunter

      Knowledge, Understanding and the God Paradigm - Murray Hunter

      Do Confucian Principled Businesses Exist in Asia? - Murray Hunter

      Samsara and the Organization - Murray Hunter

      Integrating the philosophy of Tawhid – an Islamic approach to organization. - Murray Hunter

      What’s with all the hype – a look at aspirational marketing - Murray Hunter

      Does Intrapreneurship exist in Asia? - Murray Hunter

      One Man, Multiple Inventions: The lessons and legacies of Thomas Edison - Murray Hunter

     People tend to start businesses for the wrong reasons - Murray Hunter

    
How emotions influence, how we see the world? - Murray Hunter

     How we create new ideas - Murray Hunter

     Where do entrepreneurial opportunities come from? - Murray Hunter

     The five types of thinking we use - Murray Hunter

     Evaluating Entrepreneurial Opportunities: What’s wrong with SWOT? - Murray Hunter

     How motivation really works - Murray Hunter

     The Evolution of Business Strategy - Murray Hunter

     Not all opportunities are the same: A look at the four types of entrepreneurial opportunity - Murray Hunter

     Do we have a creative intelligence? - Murray Hunter

     Imagination may be more important than knowledge: The eight types of imagination we use - Murray Hunter

    
The environment as a multi-dimensional system: Taking off your rose coloured glasses - Murray Hunter

     Generational Attitudes and Behaviour - Murray Hunter

     Groupthink may still be a hazard to your organization - Murray Hunter

  
  Perpetual Self conflict: Self awareness as a key to our ethical drive, personal mastery, and perception of entrepreneurial opportunities - Murray Hunter

     The Continuum of Psychotic Organisational Typologies - Murray Hunter

    
There is no such person as an entrepreneur, just a person who acts entrepreneurially - Murray Hunter

     Go Home, Occupy Movement!!-(The McFB– Was Ist Das?) - prof. dr. Anis Bajrektarevic

     Diplomatie préventive - Aucun siècle Asiatique sans l’institution pan-Asiatique - prof. dr. Anis Bajrektarevic

    
Democide Mass-Murder and the New World Order - Paul Adams


Crans Montana video: http://www.youtube.com/watch?v=5tN8tam1nRQ
 

 






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BALKAN AREA
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prof. dr. Anis Bajrektarevic
prof. dr. Anis Bajrektarevic


 
MENA Saga and Lady Gaga - (Same dilemma from the MENA) - Anis H. Bajrektarevic



Go Home, Occupy Movement!! - (The McFB – Was Ist Das?) -
prof. dr. Anis Bajrektarevic




Diplomatie préventive - Aucun sičcle Asiatique sans l’institution pan-Asiatique - prof. dr. Anis Bajrektarevic\/span|



ADDENDUM – GREEN/POLICY PAPER: TOWARDS THE CREATION OF THE OSCE TASK FORCE ON (THE FUTURE OF) HUMAN CAPITAL
prof. dr. Anis Bajrektarevic




Gunboat Diplomacy in the South China Sea – Chinese strategic mistake -
Anis H. Bajrektarevic




Geopolitics of Quantum Buddhism: Our Pre-Hydrocarbon Tao Future
prof. dr. Anis Bajrektarevic




The Mexico-held G–20 voices its concerns over the situation in the EURO zone - Anis H. Bajrektarevic



What China wants in Asia: 1975 or 1908 ? – addendum - prof. dr. Anis Bajraktarević











‘The exhaustion of Greek political system and a society in flames’ - by Dimitra Karantzen





Maasmechelen Village




Maasmechelen Village



FOCUSING ON MENACING MIDDLE EAST GEOPOLITICAL ENVIRONMENTS, ENDANGERING SECURITY AND STABILITY OF WESTERN BALKAN* - Brig Gen (Rtd) Dr. Muhammad Aslam Khan, Pakistan



Institute for the research of genocide - IGC Letter Regarding Vuk Jeremic Agenda in UN









 


   
 

 

 

 





From Europe, to the US, Japan, and onto China: The evolution of the automobile - Murray Hunter



ASEAN Nations need indigenous innovation to transform their economies but are doing little about it. - Murray Hunter



Do Asian Management Paradigms Exist? A look at four theoretical frames - Murray Hunter



Surprise, surprise: An Islam economy can be innovative - Murray Hunter



Australia in the "Asian Century" or is it Lost in Asia? - Murray Hunter



Australia "Do as I say, not as I do" - The ongoing RBA bribery scandal - Murray Hunter


 
Entrepreneurship and economic growth? South-East Asian governments are developing policy on the misconception that entrepreneurship creates economic growth. - Murray Hunter



Hillary to Julia "You take India and I'll take Pakistan", while an ex-Aussie PM says "Enough is enough with the US" - Murray Hunter