This is not so much a microecon article, but I thought its important enough. It is better than latest news about Paris sentenced 45 days in jail :)
http://www.forbes.com/feeds/ap/2007/05/04/ap3688594.html
Latest news from Europe! Nicolas Syrakozy won the French presidential election. I have noticed that American media are not paying much attention to what’s happening outside the US or Iraq. However, in nowadays globalized world, global news are important for almost every country. Apparently, US media want to keep international affairs away from American society. Or maybe the US news are so much important? I don’t know. Would you agree with my observation?
Back to the article. French voters had two presidential choices before Jacques Chirac will leave the office. First one- nationalist and socialist- Segolene Royal- who was the first woman so close to the French presidency. Second one, Nicolas Syrakozy, the president- elect, who is more conservative and will continue the policies of his predecessor. The voters turnout was an amazing 85%! This number alone shows how crucial the election was. The French weren't just picking a new president- they were deciding about the future direction of their country.
It is good news for the US business, because of America’s huge investments in France and Syrakozy's free market economical views.
“(…) despite recent political friction between the two countries over the war in Iraq and other issues, the French and U.S. economies remain deeply intertwined. Between 2000 and 2006, U.S. companies put $22.3 billion to work in France, while investing $15 billion in China and $5 billion in India, according to Quinlan's research.”
It is also good news for European Union. The result of the election shows a slow down in recently escalating nationalist attitudes in EU. Europe has too long nationalistic history to unite over a course of 15 years. (’92- the Treaty on European Union). The fast pace of integrating creates a variety of problems (such as struggle to ratify European Constitution). Fortunately enough, in the example of France, Europe is understanding the need to cooperate with others rather than isolate.
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Yes, I would partially agree with your observation because some of the only world news one hears is off the BBC. But I also agree that Syrakozy is a great choice because of his free market views which will help in future world relations/growth.
I think France has a fear of socialism from the policies of the last few presidents. It will be interesting to see how it works with a more market-oriented government.
We absolutely don't get enough info from outside the country - very US-centric in every case. For good econ news, try "The Economist" - it's a British magazine, and it's awesome. They aren't scared to offend anyone, and because of the European point of view, they will rip on capitalism as they feel is necessary. Of course, all news is biased, but it's interesting to get a non-US point of view on some basic economic ideas.
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