Along with being the month of the Spring Solstice, March - at least in 2012 - is showing welcome signs for a recovering global economy. The Euro, much to the dismay of those so-called experts who have been predicting the demise of that currency for months - if not years - and who even now are continuing their scare tactics, has found tentative footing, at least for the moment. It appears that naysayers have all along underestimated the commitment of the European Union to a currency alternative to the US dollar that is neither the pound sterling nor the Swiss franc - nor any other Western European currency.
There is even some optimism in the US as consumer confidence has risen. More importantly from my own selfish perspective, the US dollar appears to be trending upwards, albeit very slowly, towards parity with the Swiss franc. Because my routine monthly receipts, i.e., pension and Social Security benefits, are US dollar-based, this is very welcome news. So there is reason to view the financial glass as half-full rather than half-empty.
While Switzerland has, for the most part, escaped the financial ravages and cataclysms that have hit some of its European neighbors very hard, it has suffered significantly from a high-value franc that has cut down on foreign visitors from whom it would otherwise have received tourism income, especially with all the wonderful snow this year. Still, there are at least two events held in March that go far beyond a merely optimistic outlook for the economy. Both bring in well-heeled international visitors in high numbers, even if only for a day or two. One is the annual International Motor Show, held in Geneva from 8-18 March 2012. The other is Baselworld, held in Basel from 8-15 March 2012.
There will be several luxury vehicles featured at the auto show. But excellent news, including good news for the US's General Motors, is that the Opel (Vauxhall) Ampera/Chevrolet Volt has been selected "2012 Car of the Year." One of the key points in its selection over the other nominees was that the Ampera/Volt is a "family car," which incorporates "innovation and value for money but also safety, quality and design as well as environmental aspects."
Baselworld, on the other hand, is billed as the world's top watch and jewelry fair. As one might expect for a country best-known for cheese and watches, the Swiss watch industry is well-represented there. But rather than concentrating on watches that might appeal to familial or jewelry basics, opulence is on ostentatious display everywhere. There will be no watch equivalent to an Ampera/Volt for autos selected as "Best in Show" here. The idea is to attract the wealthiest buyers from around the world. It is thus no surprise to see that great efforts are being made to attract customers from Asia. These efforts have been successful in Switzerland's case, with Hong Kong and China being among its top three markets. Switzerland is also successful in the United States, with the US accounting for its second most significant market in 2011. It is clear that at least some in the US are doing well financially, even if most there are still performing high-wire budget acts without many of the social safety nets that characterize the preponderance of the world's most industrialized countries.
So as we drift generally towards Spring, I am optimistically hopeful that these positive economic trends that have begin to sprout with the crocuses will bring well-being for all, rather than mere opulence and ostentation for a very few.
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