Trade liberalization, a key dimension of recent globalization, has failed to promote broad structural transformation in developing countries and has instead contributed to increased worldwide inequality, a new United Nations report shows.
Since the turn of the millennium, Africa has experienced a steady and unprecedented economic growth.However, poverty continues for people across the continent, especially in the sub-Saharan region. Unemployment and inequality have remained high. The rural population and the urban poor, women and youth, have not benefited from economic growth.
The new Macau. That's what the Cambodian coastal city Sihanoukville is called nowadays. Chinese investors are building casinos there on a massive scale.The southern port city lies on the new Silk Road (the so called 'One Belt, One Road') and is therefore interesting for China.The Cambodian government is happy to accept the money. And Beijing never asks difficult questions.
George Soros, Bill Gates and other pundits have been predicting another financial crisis. In their recent book, Revolution Required: The Ticking Bombs of the G7 Model
, Peter Dittus and Herve Hamoun, former senior officials of the Bank of International Settlements, warned of ‘ticking time bombs’ in the global financial system waiting to explode, mainly due to the policies of major developed countries.
On 12 September, the international community commemorated the UN Day for South-South Cooperation. This is an important acknowledgement of the contributions of Southern partnerships in addressing the many development challenges that confront the international community, such as poverty, climate change, inequality, contagious diseases and humanitarian crises.
In 2009, the world economy contracted by -2.2%. Growth in all developing countries declined from around 8% in 2007 to 2.6% in 2009 as the developed world contracted by -3.8% in 2009. The collapse of the Lehmann Brothers investment bank in September 2008 symbolized the US financial crisis that triggered the Great Recession of 2008-2009.
Historically, the private sector has been unable or unwilling to affordably provide needed services. Hence, meeting such needs could not be left to the market or private interests. Thus, state-owned enterprises (SOEs) emerged, often under colonial rule, due to such ‘market failure’ as the private sector could not meet the needs of colonial capitalist expansion.
Many in Zimbabwe are questioning whether the country can break with its horrid past or embrace a new future after a watershed election that saw Emmerson Mnangagwa win the presidential race by a narrow margin and the opposition lodge a formal petition challenging the results in the Constitutional Court.
Sweden is rapidly moving away from cash. Demand for cash has dropped by more than 50 percent over the past decade as a growing number of people rely on debit cards or a mobile phone application, Swish, which enables real-time payments between individuals.
Ten years ago, deteriorating confidence in the value of US sub-prime mortgages threatened a liquidity crisis. The US Federal Reserve injected considerable capital into the market, but could not prevent the 2008-2009 global financial crisis (GFC).The 2008 meltdown exposed the extent of finance-led international economic integration, with countries more vulnerable to financial contagion and related policy ‘spillovers’ exacerbating real economic volatility. It also revealed some vulnerabilities of the post-Second World War (WW2) US-centred international financial ‘architecture’ – the Bretton Woods system – modified after its breakdown in the early 1970s.
Economic divergence among countries and regions was never pre-ordained. According to the late cliometrician Angus Madison and other economic historians, the great divergence between the global North and South, between developed and developing countries, began around five centuries ago, from the beginning of the European, particularly Iberian colonial conquests.
The escalating trade war initiated by United States President Donald Trump is a major threat to world trade and the global economy. The developing countries will be among those most affected. It is time for them to respond and speak out.
A global trade war has broken out. The United States fired the first salvo and there has been retaliation by the European Union, Canada, China and even India. Tariffs on certain imported goods have been increased in a tit-for-tat reaction.
Thailand’s industrial sector must focus on sustainable and green development to remain competitive in the region.
Cryptocurrency is not bound by geography because it is internet based; its transactions are stored in a database called blockchain, which is a group of connected computers that record transactions in a ledger in real time.
The United States has had the world’s largest trade deficit for almost half a century. In 2017, the US trade deficit in goods and services was $566 billion; without services, the merchandise account deficit was $810 billion.
Africa’s political instability, its armed conflicts and regulatory issues are placing at risk investment needed to tackle climate change and reduce greenhouse gas (GHG) emissions on the continent.
A landmark conference bringing more than 1,200 people from across the world together to promote and explain the importance of bamboo and rattan to global sustainable development and tackling climate change has ended with a raft of agreements and project launches.
The World Drug Report 2018, launched this week by the United Nations Office on Drugs and Crime (UNODC), highlighted the importance of gender in drug consumption and behaviour, suggesting it is essential to provide different types of health-care and legal solutions.
The West African nation of Guinea may be a signatory of the Paris Agreement, a global undertaking by countries around the world to reduce climate change, but as it tries to provide electricity to some three quarters of its 12 million people who are without, the commitment is proving a struggle.
We worry about how we can continue to put food on our tables; and yet one-third of food is never eaten, instead being lost or wasted.We worry about eating properly, and yet in many countries, poor nutrition, obesity and micronutrient deficiencies are increasingly common. This trend is taking place in the Americas, Oceania, Asia, Africa and in Europe.