Economic Forecasts

A valuable quote to remember regarding predictions on economics: "The only function of economic forecasting is to make astrology look respectable," said J.K. Galbraith, a Harvard economist.

China replaces Germany to become world's largest exporter

Via Tony Tsai - "China replaces Germany to become world's largest exporter; US experts: Chinese companies are not powerful on their own:  China has replaced Germany to become the world's largest exporter in 2009, according to a Wall Street Journal report citing data from Global Trade Information Services. Scott Kennedy, a China expert and political scientist at Indiana University, says that the high volume of China's exports "is not speaking to how important and powerful Chinese companies are on their own" because 60% of China's exports were generated from foreign-controlled enterprises. [ifeng.com, 2010.01.06]"

Media Shows Its Ignorance on Innovation

Good friend Franz Dill shares thoughts on a ABC article on innovation here.