Down under, but not out
Wayne Swan, Australia Finance Minister made it sound like a Eureka moment in early April, he refused the offer Singapore Exchange (SGX) shares his country's exchange, the ASX.
"It became clear to me that this was not a merger but a takeover, so it was obvious that the agreement is not in the national interest of Australia," proclaimed Swan, vetoing the operation $ 8.4 billion in April 2011 he had seemed to favor its announcement last October.
"This recovery would not improve our access to global capital markets, this acquisition would not provide quality jobs in financial services for Australia," he hits on. "This acquisition not to build Australia as a financial services center in Asia."
The offer has not been, more or less his words, none of the things he claimed to be, and more importantly, in the short term, it would have reduced the regulatory and economic sovereignty of Australia and presented significant risks in the supervision of clearing and settlement, and foreign investment Swan Review Board (FIRB) concluded. How the two exchanges have got this so wrong?
Populist politics
Ian Harper of Access Economics Deloitte, which helped to build his ASX matter of national interest for the takeover, the rejection is puzzling because the merger would have been clearly in the national interest, at least from the point of to an economist, mainly because "it offered to open the pipe or channel between the Australian financial markets and markets in Asia.And that's something we really badly need. "
"In financial services, is an area where we have the ability both to lead the development in Asia and be part of the financial system growing in Asia," Harper continued, adding that the veto has put this goal back before. "I think it would be raising eyebrows in Asia for what it is that we are on about here. There is a risk that without this type of fusion, Australia could become a backwater in Asia.
What Popular School Reform Initiatives Are Missing Shouldn't Be ...
This morning Valerie Strauss posted an article for the Washington Post’s Answer Sheet pointing out some of what she labeled as the more “surprising” elements of Singapore’s “Desired Outcomes of Education”.
(As a little background…Singapore, along with a number of other East Asian and Scandinavian countries, consistently outperform US schools on just about every achievement-oriented assessment, and are often cited as systems that we need to “catch”. It should also be noted that I believe Strauss was making the same argument I’m about to, which is that if we were to take a moment to think rationally, then these desired outcomes wouldn’t actually seem too surprising at all).
You can read her article here and see the full list of desired outcomes on the Singapore Ministry of Education’s website here , and I’d encourage you to do both, but for quick reference, check out the table they use to show desired outcomes by stage:
(graphic via http://www.moe.gov.sg/education/desired-outcomes/ )
Strauss compares a recent statement from US President Barack Obama (“The goal for America’s educational system is clear: Every student should graduate from high school ready for college and a career. Every student should have meaningful opportunities to choose from upon graduating from high school.”) and the outcomes identified by the Singapore Ministry of Education, stating that “…because the school system is so often compared favorably to ours, it is fair to look at what kind of graduates the government of Singapore says it wants the public school system to produce.”
TRUTH.
Particularly because according to research from virtually every field, these outcomes have a lot to do with the golden rings that have been identified: creativity, innovation…and let’s be honest…a productive, efficient, reliable labor force that can fuel the national economy and build a stronger global community.
For a brief journey into just one of these fields, neuroscience, take a good look at some of the evidence presented in Dr. Edward M. Hallowell’s recent book, Shine: Using Brain Science to Get the Best from Your People . In Shine, Hallowell cites neurological research (as well as additional research in psychology, sociology, and more) explaining what exactly is needed for a person to reach “peak performance.” Hallowell identifies Select, Connect, Play, Grapple and Grow, and Shine as his 5-step “Cycle of Excellence.
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