tailieunhanh - What Would Ben Graham Do Now? A New Value Investing Playbook for a Global Age_6

Tham khảo tài liệu 'what would ben graham do now? a new value investing playbook for a global age_6', tài chính - ngân hàng, tài chính doanh nghiệp phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | 5 How Political AccessAdds Value 95 The Value of Political Access in Godfather Economies In the godfather economies Hong Kong Qatar Macau the UAE etc. political access is a similarly powerful way to create wealth. The dynamics are also much easier to understand in these smaller and simple economies. A small number of individuals or families control much of the economy and local businesses in either strong or weak fashion and they tend to be fairly easy to work with. Additionally these economies are often not self-sufficient. They need foreign technology products brands and business models so the locals in power have a greater interest in working with foreign partners. A foreigner may have difficulty getting state approval for a deal in Moscow but it is quite a natural thing in Singapore or Qatar. Qatar is an interesting example because it is a rapidly growing economy and is controlled by a single group the Al Thani family. Most of the countryồ major projects are developed by entities controlled by his family. Additionally as a small country Qatar also lacks virtually all the capabilities required for domestic development technology management businesses . So unsurprisingly Qatari Diar has launched a series of joint ventures with foreign partners. Qatari and the Saudi BinLadin group have launched a new construction and industrial services company. Qatari Diar and Deutsche Bahn a leading passenger and logistics company launched a joint venture to develop the countryồ railways. Qatari Diar and Prinìũltíaleed struck a hotel development and management deal in which Qatari Diar purchased 23 of Fairmont Raffles and then provided multiple hotel management contracts. And so on. Such deals are quite simply and are mostly and sometimes entirely about political access. You can see the same pattern across the godfather economies small group of individuals control significant parts of the economy and are quite comfortable with foreign partners. For example in Dubai most real .