Fareed Zakaria GPS – CNN 12-14-14

Fareed Zakaria said:

  • It is the big, contentious democracies, Britain and the US, that have prevailed in the world, not Nazi Germany, Imperial Japan and the Soviet Union.
  • No organization has ever benefited from being able to be the sole judge of its own performance.

Ruchir Sharma at Morgan Stanley said:

  • China’s stock market is just the newest bubble forming in the Chinese financial sector, fueled by huge liquidity injected into the economy through the real estate boom and the shadow banking system.
  • Europe is insignificant compared to China – a 1% reduction in Chinese growth was associated with a 10% decline in oil prices and on average almost 0.5% decrease in global GDP growth.

Joe Lupton at JPMorgan Chase said that even if people stopped lending to China, the government can and will intervene to avoid a crisis as it has done in the past and does have plenty of cash, though the credit binge will weigh on China’s economy for years to come.

Diane von Furstenberg said:

  • The most important relationship in life is the one you have with yourself, by being non-delusional.
  • The key to success is to be demanding of yourself, be disciplined and be kind to yourself – it is all about confidence.

The 2015 climate change performance index ranks Australia last in OECD countries and second to last overall in the climate changes performance index. The report said no country is doing enough to prevent dangerous climate change.

Watch the video at http://globalpublicsquare.blogs.cnn.com/category/gps-episodes/ or read the full transcript

at http://edition.cnn.com/TRANSCRIPTS/1412/14/fzgps.01.html