As Nikkei Asian Review reports, Japanese Prime Minister Shinzo Abe said his government and the Asian Development Bank will jointly provide $110 billion to finance "innovative" infrastructure in Asia. Innovation, Abe said, is necessary if Asia is to counter the challenges that wait ahead, such as the graying of populations and the ever-increasing demand for energy.
In a jab at the new China-led Asian Infrastructure Investment Bank, Abe said that "excessive economic activity by the government sector must not elbow its way past the diverse ideas of the private sector. We must not create a 'bad money drives out good money' type of market where counterfeit and pirated products displace advanced technologies.
"Creating quality. That is the Japanese way of operating."
As Zero Hedge reports, if the Fed's bubble busting team led by Stanley Fischer was looking for runaway inflation, it could have easily found it earlier today without any particular effort, only not in the usual CPI place, but in the price of Women of Algiers (Version O), a "vibrant, multi-hued painting" from Pablo Picasso which moments ago became the world's most expensive artwork, selling for $179,365,000, included the house's premium in a Christie's auction.
Google’s autocomplete function provides suggestions derived from common Google searches by other users. Comparing autocomplete results for searches on different countries reveals how certain places are perceived by people around the World.
It turns out that Google searches for the cost of something vary widely depending on the country of interest. For example, people are most interested in the cost of a passport or a patent in North America. As for Europe, many are concerned about practical things like the cost of living, studying, or buying a beer.
Google users are interested in basic necessities such as food, livestock, and fuel in Africa. But if you look closely, you will find some more controversial search results, such as prostitution in Brazil, Ukraine, Hong Kong, and Latvia; slaves in Mauritania; a kidney in Iran; in vitro fertilization in Australia; and rhinoplasty in Korea.
For more continents and countries, have a look here!
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