{"id":20,"date":"2013-02-21T15:15:00","date_gmt":"2013-02-21T15:15:00","guid":{"rendered":"http:\/\/www.ceo-worldwide.com\/blog\/?p=20"},"modified":"2024-05-29T04:32:32","modified_gmt":"2024-05-29T04:32:32","slug":"international-management-future-plans","status":"publish","type":"post","link":"https:\/\/www.ceo-worldwide.com\/blog\/international-management-future-plans\/","title":{"rendered":"International Management – Future Plans"},"content":{"rendered":"
<\/div>\n
<\/div>\n\n\n\n

International Management: A sticky wicket? Some facts about the global economic climate<\/h2>\n\n\n\n

Not a reference to the England cricket team\u2019s difficulties on the subcontinent but a term economists use when inflation is resistant to change. Should we then be overly alarmed to see inflation stuck at 2.7% for three months straight in the UK? Perhaps not, but against this backdrop it is little surprise that retail sales were weak over Christmas and the high street is struggling. Conditions for US households are more benign and there is increasing evidence that the housing market has finally turned a corner in the world\u2019s largest economy. The pretender to this crown, China, is also showing signs of improvement. Dampening the New Year cheer in the global economy is the news that the previously resilient Germany seems to have succumbed to the downturn in the Eurozone. How are the US going to repay their debt of $16 trillion and increasing daily?<\/p>\n\n\n\n

UK retail sales fell over Christmas<\/h2>\n\n\n\n

December can be a make-or-break month for retailers, so the \u201cofficial\u201d data last week were keenly anticipated. In the end, they were disappointing but not catastrophic. The value of sales fell 0.1%m\/m, pulling the y\/y growth rate down to just 0.7%. If we strip out price increases and focus on volumes (i.e. the quantity of stuff we bought, rather than the amount we spent), the y\/y growth rate was just 0.3%. With the exception of 2010, when the \u201cBig Freeze\u201d hit, that represents the weakest December since 1998. When you put it like that, the disappointing news that we will be losing some well-known retailers from the high street does not look so surprising. Also, what about the big drop in net profit for these retailers that will impact on the UK Government revenues!<\/p>\n\n\n\n

UK inflation unchanged but the squeeze on households continues. Consumer prices rose 2.7%y\/y in December, the same rate as in November and October. The pressure on inflation is being caused by utility prices (gas prices rose 5.2%y\/y) and food prices (up 3.9%y\/y) and with more price rises on the way throughout 2013\/14 and beyond. There was some respite on the petrol forecourt, however, where pump prices fell very slightly. Inflation therefore remains higher than income growth, with average weekly earnings rising just 1.8% over the year to October. Against that backdrop, 2013 will be another difficult year for retailers.<\/p>\n\n\n\n

Inflation less of a headwind across the Atlantic<\/h2>\n\n\n\n

Conversely, US CPI inflation edged down to 1.7%y\/y in December, whilst the core measure that excludes ood and energy was stable at 1.9%. Inflation averaged 2.1% last year, comfortably below 3.2% in 2011 and the 10yr average of 2.5%. Risks that poor harvest yields and tensions in the Middle East would push commodity prices higher failed to materialise (they will rise in 2013\/14). This will have been a relief for households who seem to have been more exuberant over Christmas. Retail sales were up 4.7%y\/y in volume terms in December \u2013 a stark contrast with the UK. The net profit, is there any?<\/p>\n\n\n\n

A busy end to 2012 for America’s bricklayers. New housing starts were up 12%m\/m in December to an annualised 954,000 – the highest level since June 2008. For the year as a whole the increase was even more striking: a total of 871,000 houses were started, 28% more than in 2011. Along with a declining supply of repossessed homes, modest support from rising employment and steadily rising prices, it looks as if the US housing market finally turned a corner last year. More unemployment on its way!<\/p>\n\n\n

\n
\"international<\/figure>\n<\/div>\n\n\n

Germany dragged into the mire<\/h2>\n\n\n\n

There was evidence that economic weakness in the Eurozone<\/a> periphery is spreading to the core, as German GDP contracted (0.5%q\/q) at the end of 2012. For the year as a whole Germany grew by just 0.7%, down from 3% in 2011, partly due to a slowdown in export growth. Things may get worse before they get better. Germany\u2019s central bank cut its GDP growth projections to just 0.4% in 2013. Certainly this is an economy that is highly sensitive to the health of its trading partners. Ominously, almost 40% of German exports head to neighbouring countries in the Eurozone<\/p>\n\n\n\n

Eurozone inflation steady<\/h2>\n\n\n\n

Inflation was unchanged at 2.2%y\/y in December. The ECB sees inflation dropping below its 2% target during the course of 2013, given weak economic activity and high unemployment. This will take some pressure off consumers\u2019 disposable income but will be far from sufficient to achieve a recovery in the Eurozone. Indeed it is likely that conversations will again remain firmly centered on the Eurozone crisis at the Davos meeting in Switzerland this week. The Eurozone is still in deep trouble!<\/p>\n\n\n\n

China re-accelerates, but the true test still to come<\/h2>\n\n\n\n

China’s economy grew 7.9%y\/y in Q4, bringing an end to the growth slowdown that had lasted almost two years. China has achieved this by spending more on infrastructure \u2013 the government’s favourite tool for stimulating growth. The true test of China’s new leadership will be rebalancing the economy towards consumer spending. So far, it has merely talked-the-talk on reform. In this context there is some good news. Disposable income growth is running at almost 13%y\/y for city dwellers, well above average.<\/p>\n\n\n\n

The USA has still major issues across many sectors. Plus, borrowing are $16 trillion and growing daily! When will it end?<\/p>\n\n\n\n

What do you think about this?<\/h2>\n\n\n\n

Why do politicians\/bankers\/lenders ignore history? And yet history repeats itself several times because these people do not read! People need to read `The Rise and Fall of the Roman Empire` and then perhaps they will learn how to avoid repeating history. <\/p>\n\n\n\n

The Credit Crunch of AD 33 Repeats itself time and time again!<\/strong><\/p>\n\n\n\n

What with the Bank of England pushing \u00a3375+ billion and the USA Federal Reserve $1+ trillion into their countries respective banking systems, readers may be interested to learn of the following from `Banking & Business in the Roman World`:<\/p>\n\n\n\n

\n

In AD 33 the lack of cash continued to become increasingly serious (where have we read this before many times?). To remedy the situation, through the intermediary of `ad hoc` financial offices directed by Senators, the Emperor himself offered interest-free loans amounting to an overall sum of 100,000,000* sesterces from his personal fortune for the duration of three years. The borrowers were required to offer security in the form of real estate or buildings. In this way they were not forced to divest themselves of their patrimony in order to pay off their debts. Fides, that is to say confidence, returned, and the situation was retrieved for a short time.<\/em><\/p>\n<\/blockquote>\n\n\n\n

We live in a global trading environment of which there are so many players chasing very few opportunities that it is driving down prices globally and still people do not wish to buy!<\/p>\n\n\n\n

Plus, the banks globally are still stashing cash at the highest levels ever recorded, why? We all know why, don`t we! Will we see a run on the banks soon?<\/p>\n\n\n\n

The Euro currency will continue to suffer in the hands of Greece, Portugal, Spain, Italy and Ireland followed by France who are `all` in `deep` financial difficulty as first stated in January 2008. Who will leave the euro currency first? Then who will follow? What future has the Euro?<\/p>\n\n\n\n

What are your plans for your future to be successful?<\/strong><\/p>\n\n\n\n

\n\n\n
\n
\"\"<\/figure>\n<\/div>\n\n\n

About the author: Colin<\/a> is a former successful Managing Director and former Group Chairman of the Academy for Chief Executive, Non-Executive Director and Mentor – RFU Leadership Academy, helping companies raise their `bottom-line` and `increase cashflow`. Author of several publications, research reports, guides, business and educational models on CD-ROM\/Software\/PDF and over 400 articles published on business and educational subjects worldwide. Plus, International Speaker\/Visiting University Professor.<\/p>\n","protected":false},"excerpt":{"rendered":"

International Management: A sticky wicket? Some facts about the global economic climate Not a reference to the England cricket team\u2019s difficulties on the subcontinent but a term economists use when inflation is resistant to change. Should we then be overly alarmed to see inflation stuck at 2.7% for three months straight in the UK? Perhaps … Read more<\/a><\/p>\n","protected":false},"author":9,"featured_media":4169,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[30],"tags":[78,73,117,164,60],"ppma_author":[615],"class_list":["post-20","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international-management","tag-china-2","tag-germany-2","tag-global-economy","tag-international-management","tag-usa-2"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2013\/02\/pexels-photo-4057659.jpeg?fit=1880%2C1253&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p7XjMV-k","jetpack-related-posts":[{"id":7449,"url":"https:\/\/www.ceo-worldwide.com\/blog\/driving-international-growth-and-strategic-evolution-at-dafa\/","url_meta":{"origin":20,"position":0},"title":"Driving International Growth and Strategic Evolution at DAFA","author":"Bo Ankerfelt","date":"","format":false,"excerpt":"Role:\u00a0 Group CEO\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Tenure: 2014 \u2013 2018 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Industry:\u00a0 Foam & Rubber Sealing Solutions \/ Industrial & Construction (Denmark \/ Europe \/ Asia \/ USA)\u00a0 THE MANDATE DAFA, a Danish family-owned company with roots dating back to 1939, was a market leader in foam and rubber sealing solutions and at\u2026","rel":"","context":"In "Case Studies"","block_context":{"text":"Case Studies","link":"https:\/\/www.ceo-worldwide.com\/blog\/category\/case-studies\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2026\/04\/pexels-photo-35602949.jpg?fit=264%2C264&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":2252,"url":"https:\/\/www.ceo-worldwide.com\/blog\/cross-border-investing-in-the-emerging-economies-of-asia-china\/","url_meta":{"origin":20,"position":1},"title":"A New Approach for the VC\/Buy-outs Segment: CROSS-BORDER INVESTING IN THE EMERGING ECONOMIES OF ASIA: CHINA?","author":"Jordi Argente","date":"","format":false,"excerpt":"Invest in mid-market buy out opportunities in China only through cross-border strategic investment vehicles that will invest and obtain control simultaneously in local companies located BOTH in China and in North America presenting substantial synergies. Upon completing the M&A exercise, the Western company will contributestate-of-the-art management, processes & systems to\u2026","rel":"","context":"In "Business Development"","block_context":{"text":"Business Development","link":"https:\/\/www.ceo-worldwide.com\/blog\/category\/business-development\/"},"img":{"alt_text":"city with skyscrapers","src":"https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2020\/03\/pexels-photo.jpg?fit=1200%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2020\/03\/pexels-photo.jpg?fit=1200%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2020\/03\/pexels-photo.jpg?fit=1200%2C800&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2020\/03\/pexels-photo.jpg?fit=1200%2C800&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2020\/03\/pexels-photo.jpg?fit=1200%2C800&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":4778,"url":"https:\/\/www.ceo-worldwide.com\/blog\/attracting-international-c-level-executives-to-indian-corporations\/","url_meta":{"origin":20,"position":2},"title":"Global Talent Acquisition: Attracting International C-level Executives to Indian Corporations","author":"CEO Worldwide","date":"","format":false,"excerpt":"The Indian economy is in a perpetual motion as we are heading towards a new phase of development. With Indian companies becoming key global players in information technology and present in many industrial sectors, the search for skilled talent widens beyond their boundaries. This approach involving a world-wide workforce is\u2026","rel":"","context":"In "Executive Recruitment"","block_context":{"text":"Executive Recruitment","link":"https:\/\/www.ceo-worldwide.com\/blog\/category\/executive-recruitment\/"},"img":{"alt_text":"Attracting International C-level Executives to Indian Corporations","src":"https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2024\/03\/znrite8npqy.jpg?fit=1200%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2024\/03\/znrite8npqy.jpg?fit=1200%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2024\/03\/znrite8npqy.jpg?fit=1200%2C800&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2024\/03\/znrite8npqy.jpg?fit=1200%2C800&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2024\/03\/znrite8npqy.jpg?fit=1200%2C800&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":4641,"url":"https:\/\/www.ceo-worldwide.com\/blog\/global-business-expansion-through-citizenship-by-investment-programs\/","url_meta":{"origin":20,"position":3},"title":"Global Business Expansion Through Citizenship by Investment Programs","author":"CEO Worldwide","date":"","format":false,"excerpt":"Copyright: Pexels I License: CC0 Public\u00a0 Domain In today's interconnected world, businesses are constantly on the lookout for innovative strategies to expand their reach and dive into unexplored opportunities. One such exciting strategy that's been gaining traction is global business expansion through citizenship by investment programs.\u00a0 Imagine this: you invest\u2026","rel":"","context":"In "Business Development"","block_context":{"text":"Business Development","link":"https:\/\/www.ceo-worldwide.com\/blog\/category\/business-development\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2023\/10\/Citizenship-by-Investment-Programs.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":7455,"url":"https:\/\/www.ceo-worldwide.com\/blog\/international-expansion-and-strategic-market-entry-at-aalborg-portland-asia\/","url_meta":{"origin":20,"position":4},"title":"International Expansion and Strategic Market Entry at Aalborg Portland Asia","author":"Bo Ankerfelt","date":"","format":false,"excerpt":"Role:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Managing Director \/ General Manager, Aalborg Portland Asia Tenure:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2000 \u2013 2005 Industry:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 White Cement Manufacturing \/ Building Materials (Malaysia \/ Southeast Asia \/ China) THE MANDATE Following the acquisition of a 60% stake in the white cement interests of Rock Chemical Industries (RCI) in 2000, the mandate was\u2026","rel":"","context":"In "Case Studies"","block_context":{"text":"Case Studies","link":"https:\/\/www.ceo-worldwide.com\/blog\/category\/case-studies\/"},"img":{"alt_text":"globe figurine in a studio","src":"https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2026\/04\/pexels-photo-22669715.jpeg?fit=1200%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2026\/04\/pexels-photo-22669715.jpeg?fit=1200%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2026\/04\/pexels-photo-22669715.jpeg?fit=1200%2C800&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2026\/04\/pexels-photo-22669715.jpeg?fit=1200%2C800&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2026\/04\/pexels-photo-22669715.jpeg?fit=1200%2C800&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":2206,"url":"https:\/\/www.ceo-worldwide.com\/blog\/what-is-happening-in-the-global-world\/","url_meta":{"origin":20,"position":5},"title":"What is happening in the global world?","author":"Colin Thompson - CEO - UK","date":"","format":false,"excerpt":"China is synonymous with strong and secure economic growth. Indeed, so entrenched is this sentiment that commentators talk of Chinese exceptionalism; i.e.; that the usual rules of economics do not apply. But rules are rules. And there\u2019s concern that China\u2019s rapid build up of credit has left it vulnerable to\u2026","rel":"","context":"In "Business Development"","block_context":{"text":"Business Development","link":"https:\/\/www.ceo-worldwide.com\/blog\/category\/business-development\/"},"img":{"alt_text":"global world","src":"https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2024\/05\/krelishkxtm.jpg?fit=1200%2C900&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2024\/05\/krelishkxtm.jpg?fit=1200%2C900&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2024\/05\/krelishkxtm.jpg?fit=1200%2C900&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2024\/05\/krelishkxtm.jpg?fit=1200%2C900&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2024\/05\/krelishkxtm.jpg?fit=1200%2C900&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"jetpack_sharing_enabled":true,"authors":[{"term_id":615,"user_id":9,"is_guest":0,"slug":"colin-thompson","display_name":"Colin Thompson - CEO - UK","avatar_url":{"url":"https:\/\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2020\/05\/49200-2.jpg","url2x":"https:\/\/www.ceo-worldwide.com\/blog\/wp-content\/uploads\/2020\/05\/49200-2.jpg"},"author_category":"0","user_url":"","last_name":"Thompson - CEO - UK","first_name":"Colin","job_title":"","description":"Colin is the Managing Partner at Cavendish and a former successful Managing Director of Transactional\/Document Manufacturing Plants, Document Management\/Workflow Solutions companies and other organisations, former Group Chairman of the Academy for Chief Executives, Non-Executive Director, Mentor - RFU Leadership Academy, Mentor - Coventry University, Mentor - The Chartered Institute of Personnel and Development, author\/writer Business Advice Section for IPEX, <\/strong>Graphic Display World, News USA, Graphic Start, many others globally, helping companies raise their `bottom-line` and `increase cash flow`. Plus, helping individuals to be successful in business and life in\u00a0general. Author of several publications (35 +), research reports, guides, business and educational models on CD-ROM\/Software\/PDF and over 4000 articles published on business and educational subjects worldwide. Plus, International Speaker\/Visiting University Professor.\r\n\r\nCheckout Colin's LinkedIn profile<\/a>"}],"_links":{"self":[{"href":"https:\/\/www.ceo-worldwide.com\/blog\/wp-json\/wp\/v2\/posts\/20","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ceo-worldwide.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ceo-worldwide.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ceo-worldwide.com\/blog\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ceo-worldwide.com\/blog\/wp-json\/wp\/v2\/comments?post=20"}],"version-history":[{"count":11,"href":"https:\/\/www.ceo-worldwide.com\/blog\/wp-json\/wp\/v2\/posts\/20\/revisions"}],"predecessor-version":[{"id":5333,"href":"https:\/\/www.ceo-worldwide.com\/blog\/wp-json\/wp\/v2\/posts\/20\/revisions\/5333"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ceo-worldwide.com\/blog\/wp-json\/wp\/v2\/media\/4169"}],"wp:attachment":[{"href":"https:\/\/www.ceo-worldwide.com\/blog\/wp-json\/wp\/v2\/media?parent=20"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ceo-worldwide.com\/blog\/wp-json\/wp\/v2\/categories?post=20"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ceo-worldwide.com\/blog\/wp-json\/wp\/v2\/tags?post=20"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.ceo-worldwide.com\/blog\/wp-json\/wp\/v2\/ppma_author?post=20"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}