Word: globalization
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...serve on a board or be tapped for a high civil-service post, you've got to have the right background, the right education, and have the powerful network of allies to help you get there," says Marc Touati, deputy director of the Paris-based financial-services group Global Equities. "Most are well-trained and talented people, but there are lots of people like that who have no chance at those top spots. Like it or not, France is run by a caste...
...years, despite other changes that have taken place in the economy: nationalization, socialization, privatization and pro-market reforms. Grémont says that such enduring élitism is difficult to challenge in normal economic times, which is the main reason some French executives continue to fear that the current global recession could morph into something more serious: a 1930s-style meltdown capable of shaking the entire economic structure to its foundations. Were that to happen, chain-reaction bankruptcies of companies could force the French state to step in and nationalize industries, dismantling the boardroom power structure. (See pictures of President...
Advisers also warn investors to choose larger ETFs over smaller start-up ones, especially when it comes to global and emerging-market funds. Unlike mutual funds, investors face price spreads when buying and selling ETFs, and these spreads can be quite wide - spanning several percentage points in some cases - when the ETF is small or its underlying stocks don't trade much...
...might save 20 basis points [i.e., 0.2 percentage points] on the cost of the ETF, but what if you're paying 200 basis points [2 percentage points] more because of the trading spread?" asks Borek. The spread risk is exacerbated in emerging markets and specialized niches in the global markets, where data are scarce and trading is limited...
...importance of stability in the sector, as it bears upon consumption and employment," Jing Ulrich, managing director of China equities for JPMorgan, wrote in a research note. It's a tricky balancing act. But it's a task the other countries still struggling to emerge from the global downturn would envy...