Wednesday Water Cooler
China Intervenes to Support Tumbling Yuan
China devalued its currency on Tuesday in the wake of poor trade data, a move that left it with its biggest one day fall in more than 20 years, and fell further on Wednesday as question arose about China’s economic management. China’s central bank, the People’s Bank of China, blamed the fall on a change in exchange rate controls that it says will make it more market-oriented.
The report, which based its findings on a review of 25 statements from youth summits and consultations globally, as well as 11 national and regional youth polls, found young people are concerned about jobs and education. However, they also are growing more worried about corruption, governance issues and national security.
Did Multiculturalism Contribute To Europe’s Current Problems
Individual countries across Europe have been experiencing increasing violence against immigrants and minority communities for more than a decade, which some see as evidence that the continent’s experiment in multiculturalism has failed. Even political leaders in Germany and England have railed against multiculturalism, while advocates attribute the violence to racism.
In fact, both sides are right and wrong, contends Kenan Malik of Foreign Affairs magazine.
“But the truth about multiculturalism is far more complex than either side will allow, and the debate about it has often devolved into sophistry. Multiculturalism has become a proxy for other social and political issues: immigration, identity, political disenchantment, working-class decline. Different countries, moreover, have followed distinct paths,” writes Malik.
Instead, the debate “should be not between multiculturalism and assimilationism but between two forms of the former and two forms of the latter” and “would marry multiculturalism’s embrace of actual diversity, rather than its tendency to institutionalize differences, and assimilationism’s resolve to treat everyone as citizens, rather than its tendency to construct a national identity by characterizing certain groups as alien to the nation,” he adds.
Europe, however, has done just the opposite.