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Ricardo Salinas Pliego, one of the country’s wealthiest businessmen, has joined forces with the state government of Chiapas to build urban communities to provide basic services to people who once lived in rural areas. But in a recent interview with the FT, Mr Salinas Pliego admitted that philanthropy in Mexico was not easy. “In the rest of the world, rich people will give a donation and businessmen give to charities,” he said. “But in Mexico, the execution capacity of what we call the social sector is missing. I find it much more effective to set up the actual social organisation and then fund it with my money.”

Obama is no longer paying attention to economists and economics in designing economic policy.

do what his campaign people tell him

Obama intends to focus on reducing government spending and cutting programs like social security and Medicare.

A failure of economic strategy and leadership lies behind the near simultaneous collapse of market confidence

Europe and America have been unable to cope with the realities of global capital markets and competition from Asia

both regions are being whipsawed by globalisation.