I am adding this link to my blog to keep an eye on Lloyd Armstrong writings. He writes on creative university in a flat world. I do think that universities are key elements of local innovative-ecosystems, however for this innovation clusters to succeed one has to have proper incentives in place. High flying academics need to see the earth, while business people should be able to accept risks related to research.

For a change, take a look at some China real estate developments. Dubai should feel jealous.

“Set in a spectacular water filled quarry in Songjiang, China, the 400 bed resort hotel is uniquely constructed within the natural elements of the quarry. Underwater public areas and guest rooms add to the uniqueness, but the resort also boasts cafes, restaurants and sporting facilities”. Take a look here.

FT has an article arguing that with mass Poles migration to UK clubs are empty, and clubbing went to UK as well. I do not know much about clubbing, but when we went to Warsaw’s Dekada two weeks ago with some friends it was pretty crowded. And FT says that some cutting edge music is coming from London to Warsaw, so when migrants flock back they will see no difference.

On a more serious tone. Steven Roach writes about Davos denial and warns about upcoming wave of protectionism. I like reading Steven Roach pieces, they are global and draw attention to important issues. But I think that he got this one wrong. Even if western world jumps the protectionist train, China will still continue to build its strong presence in Africa, and Asia trade nad financial consolidation will advance. Yes, globalization can be stopped, but it requires a major disease outbreak, terrorist attacks or war. The shifting power equation described by Steven Roach means, that US or Europe no longer decides whether we have globalization or protectionism. We can still choose to take part or not, I hope we make the right choice.

Finally, John Mauldin guest James Montier writes about failure of CAPM (Capital Asset Pricing Model). Interesting and worth reading. Well the finance mathematics world has moved forward since the CAPM was formulated.