European Debt and China's Marshall Plan
The Chinese have been vocal about using their vast currency reserves to give financial supported to an indebted Europe. Their aim is to protect their own commercial interests.
What's the Latest Development?
China is seeking to calm its own population over concerns that it will use its vast currency reserves to bail out European countries weighed down by sovereign debt. Chinese Premier Wen Jiabao says it is in China's own interest to keep Europe from sinking, which provides the Chinese their largest export market and its biggest source for importing technology. Many Chinese officials have been critical of their government's investment in the West, believing the country's economic reserves should benefit those who helped create it.
What's the Big Idea?
A China ready to prevent the collapse of Europe certainly speaks well for the interconnectedness of a global market system. The US, for its part, has publicly promised to see its European allies through its moment of crisis but booming budget deficits, a faltering economy, and worries over its own vulnerability to European debt will greatly limit its generosity. Germany, now firmly in control of Europe's economic decisions, has gone out of its way to act independently of China's purse strings by, for example, criticizing its human rights record.
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Blackstone's Byron Wien, Vice Chairman of Private Wealth Solutions Group, gave a speech laying out the wisdom he learned during his 80 years. Here are 15 of Wien's best life lessons, which teach us about improving our productivity, sleep, burnout avoidance, and everything in between.
According to TwoFold CEO Alison McMahon, a leader who doesn't care (or can't pretend to care) about his or her employees isn't much of a leader at all.
Why do people quit their jobs? Surely, there are a ton of factors: money, hours, location, lack of interest, etc. For Alison McMahon, an HR specialist and the CEO of TwoFold, the biggest reason employees jump ship is that they're tired of working for lousy bosses.
By and large, she says, people are willing to put up with certain negatives as long as they enjoy who they're working for. When that's just not the case, there's no reason to stick around:
Nine times out of ten, when an employee says they're leaving for more money, it's simply not true. It's just too uncomfortable to tell the truth.
Whether that's true is certainly debatable, though it's not a stretch to say that an inconsiderate and/or incompetent boss isn't much of a leader. If you run an organization or company, your values and actions need to guide and inspire your team. When you fail to do that, you set the table for poor productivity and turnover.
McMahon offers a few suggestions for those who want to hone their leadership abilities, though it seems that these things are more innate qualities than acquired skills. For example, actually caring about your workers or not depending wholly on HR thinking they can do your job for you.
It's the nature of promotions that, inevitably, a good employee without leadership skills will get thrust into a supervisory position. McMahon says this is a chronic problem that many organizations need to avoid, or at least make the time to properly evaluate and assist with the transition.
But since they often don't, they end up with uninspired workers. And uninspired workers who don't have a reason to stay won't stick around for long.
Read more at LinkedIn.
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