Policy

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How far will the French government go in selling off some of its extensive portfolio of assets? In its last budget, the government said it would sell up to €4bn in shareholdings to raise money to pay down debt, or to invest in other companies. This could foreseeably include selling off parts of the government’s stakes in energy companies such as GDF Suez and EDF. But more may be necessary.

The ongoing conflict with the European Union over France’s persistent deficit, which according to the finance minister Michel Sapin cannot now be closed before 2017, is damaging France’s reputation as well as the all important relationship with Berlin. Some action is needed to buy German acceptance of a new timetable. Selling assets in itself would not solve the problem but could reduce debt levels and produce much needed revenue. As a concept, however, privatisation is still considered toxic in France. The terms of any sale will have to reflect these political constraints.

Any Brit commenting on France has to be careful after the childish abuse from Andy Street, the managing director (for the moment) of retailer John Lewis. France has its problems, as any Frenchman will tell you, but it is not “finished” or a country where “nothing works and nobody cares”. Mr Street should visit the thriving areas of the South West. He should remember that France, supposedly so hostile to globalisation, has 31 companies in the latest Fortune 500 listing against 28 each from Germany and the ultra-global UK. I hope that the Franco British Council, the Colloque and the other institutions that have laboured for years to build good relations with France are evidence that Mr Street speaks for no-one but himself. Read more

8th June 1939:  Babies in a row of cots brought out for some sun by their nurses at the Duchess of York's Hospital for Babies at Burnage, Manchester.  (Photo by Fox Photos/Getty Images)

  © Fox Photos/Getty Images

A new academic study, the results of which were published last month in the magazine Science, suggests that previous population projections have been understated. Rather than plateauing at 9bn the global population could rise during the current century to 11bn or more. How can the world manage such numbers?

The focus of attention – in politics, markets and companies – is so concentrated on the short term that long-term challenges are easily lost from sight. Tomorrow’s problems are left to tomorrow’s leaders. However understandable when individuals are working under the pressure of 24/7 news cycles and quarterly reporting standards, the result is that some of the most profound challenges are being neglected. Population growth is perhaps the most fundamental challenge of all because its consequences are so widespread.

The issue has been raised again by the publication of a new research paper from the University of Washington. Professor Adrian Rafferty and his colleagues argue that for a variety of reasons (including the success of the fight against Aids and the failure of attempts to spread knowledge on contraception), the global population could now be 2bn or more higher in 2100 than previously anticipated – that is within the lifetime of many of the children alive today. Read more

A sign pointing to Whitehall (Peter Macdiarmid/Getty)

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Applications close this week for the newly created post of chief executive of the UK civil service. The general reaction to the advertisement of the vacancy has been muted, to put it mildly, with a much repeated view that the job is un-doable.

The role is certainly not an easy one – think of it as Yes Minister with knives – but the conventional wisdom is too negative.

Whitehall badly needs reform and this could be a good way to drive forward the changes which have been so elusive over the past few years. But if they really want change and a modern, professionalised civil service, ministers will have to adapt as well. Read more

William Hague (L) and Nato Secretary General Anders Fogh Rasmussen unveil the logo of the Nato Wales' summit (JOHN THYS/AFP/Getty Images)

The unveiling of the Nato Wales' summit logo (AFP/Getty)

In ten days time Nato’s leaders will gather in Wales for their bi-annual summit. There is certainly plenty to discuss at Celtic Manor – Ukraine, Iraq, Afghanistan and of course the continued inadequacy of defence spending which is leaving the military in many countries unable to fulfill all their stated commitments.

But tucked away in one bland paragraph of the draft communiqué now being circulated is a brief reference to energy security. Let’s hope there is substance behind the words.

Energy policy remains strictly a matter for national governments but the risks arise from the fact that many countries are dependent on imports for large proportions of their daily supplies. Forty years ago the risk came from the growth of oil imports and a reliance on Opec suppliers. Now the risk is an interruption of natural gas supplies. Gas has become progressively more important as a source for electricity production and for heating. The US and Canada are well supplied thanks to the development of shale gas, but Europe is not. Indigenous production in the UK and Dutch sectors of the North Sea has fallen sharply and Europe has slipped into a position where 70 per cent of its daily imports of gas come from RussiaRead more

China's Jiang Jemin, the CEO of CNPC and Tony Hayward of BP smile after signing a major oil deal with Iraq in 2009 (AHMAD AL-RUBAYE/AFP/Getty Images)

Happier days: China's Jiang Jemin, the chief executive of China National Petroleum Corporation, and BP's Tony Hayward, signing a major oil deal with Iraq in 2009 (AFP/Getty Images)

One of the ironies of the current chaotic situation in the Middle East is that a country that could arguably be at risk of losing the most is standing aside.

While the US and some European powers agonise over whether – and how – they should intervene to prevent the disintegration of Iraq, China is absent. But China needs Iraqi oil in growing volumes. The country’s import dependence for crude and products now stands at 8m barrels a day and is rising. According to the latest International Energy Agency estimates, Chinese imports could be well over 11mbd by 2030. That is on modest assumptions about economic growth and generous assumptions about gains in efficiency and substitution out of oil, in sectors where a switch is possible. The figure could be higher if China cannot increase its own production.

The only country in the world likely to be able to provide such an increase in production is Iraq, and it is no accident that China is heavily invested in the development of fields such as Rumaila and West Qurna outside Basra in the South. On the Iraqi government’s own figures, China is the largest foreign investor in the country’s oil sector. As US oil consumption and import requirements decline, energy security has become a Chinese issue. Read more