Retired General Dan Christman spoke to our DC PMI chapter.
It was a fabulous overview of current global issues. Mr. Christman re-inspired me to seek international employment, which had waned since being caught up in the daily rat race and adventures of Washington D.C.
Upon returning from Iraq as a representative of the US Chamber of Commerce,
he gave us a brief of:
- The Middle East (Saudi has a great outlook for investors and project planners)
- China (very dangerous for additional FDI right now)
- India (now considered a strategic alliance with the United States)
- Russia (60% of FDI is non-hydrocarbon based and seems sustainable)
- EU (favorable investment opportunities and stability through successful leadership of Angela Merkel and Nicolas Sarkosy; Europeans need to learn that monopolies are irrespective of a company's size)
- Western Hemisphere (Canadian PM Stephen Harper and Mexican President Felipe Calderon are very opportunistic for North American economy, while Chavez is populist in rhetoric; Castro has been out of power for 18mos and Cuba has a chance to be reborn)
In short, the highlights were a discussion of the incredible trade deficit w/ China that is
Described as ‘unsustainable.” The climate suggests an environment that is less welcoming
of US FDI and Mr. Christman calls it the glass is ½ full, but is losing water. Mr. Christman calls China's environment an authoritarian capitalism and is appreciative of how open their society has grown and reminded us of a famous quote from Deng Xiaoping . The $1Trillion imbalance can't be sustained and political pressures to add tarrifs, duties in response to currency manipulation is inevitable. Here is one place where the weakening US dollar has helped to curb the staggering $200B/year US-China trade deficit.
•He said that Iraq and the middle east are in desparate need of FDI and can be safe. Where there was 40 ieds/day, it is now days between IEDs. Private sector growth is encouraged and needed for Iraq to have the confidence and economy to regain its independence. He reports that Nouri Al Maliki can seem to reach across sects. Recent advancements include a de-Baathification law and attempts to distribute hydrocarbon wealth among the provinces.
•Saudi look at Dubai as a DisneyWorld and have many such projects booming and in great need of project planners.
Finally, the US is showing a strong export market at 30% of GDP and a 14% growth rate that can mitigate the effects of the housing market bust.
It was so satisfying to meet this Army general and to know that such an intelligent person was representing the US in military and business advising.
1 comment:
you write a blog post with no interaction from your buddies that *live* there? for shame!
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