For Want of a Sausage McMuffin, Solidarity Was Lost
Kerry Howley | December 15, 2005, 12:31pm
AP reports from the front lines of the WTO protests in Hong Kong:
McDonald's, the very symbol of globalization, is used to having its windows broken during violent protests at WTO summits, but not in Hong Kong where one group met for breakfast Thursday.
Eight demonstrators ignored the anti-globalization message of their "Junk WTO" baseball caps and feasted on Sausage McMuffins as they planned how to get across their anti-capitalist message.
One protester attending the Hong Kong talks and on whom the irony might be lost was French militant farmer Jose Bove, who spent three months in jail after he helped demolish a partly built McDonald's outlet in southern France in 1999.
lannychiu | December 15, 2005, 1:51pm | #
Wasn't the assumption of the pro-WTO crowd, in general, that capital would flow toward the developing countries, instead of what actually has happened, a record current account deficit in the US?
The typical assumption would be that capital should flow towards the high real return. A very reasonable guess would be that the investment opportunities in the developing world would present the highest available real returns.
Unfortunately, in many cases, specific country concerns have convinced many investors to stay out. These concerns usually fall under the categories of inflationary risk (in many places in the world double digit inflation is not uncommon), and sovereign risk, what happens if some entity, the government, thugs, crimminals, steal my property. Can I get it back, not at all clear in many countries?
In markets where at least a few of these concerns have been ameliorated (China, India), one does see significant inflows of capital.
Unfortunately many parts of the world that could use development, Africa, the poorer nations of Asia, have been unable to attract these much needed capital inflows.
So in short, it is a very reasonable thing to assume, but it simply hasn't occured yet.
Pro Libertate | December 15, 2005, 5:24pm | #
Dupea: I'd like a plain omelette, no potatoes, tomatoes instead, a cup of coffee, and wheat toast.
Waitress: (She points to the menu) No substitutions.
Dupea: What do you mean? You don't have any tomatoes?
Waitress: Only what's on the menu. You can have a number two - a plain omelette. It comes with cottage fries and rolls.
Dupea: Yeah, I know what it comes with. But it's not what I want.
Waitress: Well, I'll come back when you make up your mind.
Dupea: Wait a minute. I have made up my mind. I'd like a plain omelette, no potatoes on the plate, a cup of coffee, and a side order of wheat toast.
Waitress: I'm sorry, we don't have any side orders of toast...an English muffin or a coffee roll.
Dupea: What do you mean you don't make side orders of toast? You make sandwiches, don't you?
Waitress: Would you like to talk to the manager?
Dupea: ...You've got bread and a toaster of some kind?
Waitress: I don't make the rules.
Dupea: OK, I'll make it as easy for you as I can. I'd like an omelette, plain, and a chicken salad sandwich on wheat toast, no mayonnaise, no butter, no lettuce. And a cup of coffee.
Waitress: A number two, chicken sal san, hold the butter, the lettuce and the mayonnaise. And a cup of coffee. Anything else?
Dupea: Yeah. Now all you have to do is hold the chicken, bring me the toast, give me a check for the chicken salad sandwich, and you haven't broken any rules.
Waitress (spitefully): You want me to hold the chicken, huh?
Dupea: I want you to hold it between your knees.
Waitress (turning and telling him to look at the sign that says, "No Substitutions") Do you see that sign, sir? Yes, you'll all have to leave. I'm not taking any more of your smartness and sarcasm.
Dupea: You see this sign? (He sweeps all the water glasses and menus off the table.)