75 years ago following the end of the Second World War and the first time any state has dropped an atomic bomb, not once, but twice, on Hiroshima and Nagasaki, 51 countries from all continents met to create the United Nations.
Many medicines and medical tests are unaffordable to most of humanity owing to the ability of typically transnational pharmaceutical giants to abuse their monopoly powers, enforced by intellectual property laws, to set prices to maximize profits over the long-term.
Financialization has worsened inequality through various channels, including macroeconomic policies. For example, quantitative easing and low, if not negative interest rates have fuelled credit and asset price bubbles, while fiscal spending cuts have adversely affected those depending on government assistance.
As we prepare to bid farewell to 2019, we must take a clearsighted look at the global situation and the new challenges we face.
Our world is undergoing a shift. It is no longer bipolar or unipolar. But it is not yet truly multipolar. Balances of power are changing, creating new and dangerous risks.
As the COP25 deliberations enter the decisive final week, representatives of environmental and social organisations gathered in a parallel summit are pressing the governments to adopt stronger commitments in the face of a worsening climate emergency.
Genesis smiles and holds her hand up proudly to answer questions in class. She claps her hands in support of her classmates when they answer the teachers’ questions correctly. “I miss my cousins and aunts in Venezuela, she says.” Her smile fades and her lips tighten. She struggles to hold back her tears. “I can’t return. I want to stay here in my school, with my new friends.” Her smile returns, as she resolutely states: “I want to become a lawyer, so I can help solve problems
Tens of thousands of delegates from state parties began working Monday Dec. 2 in the Spanish capital to pave the way to comply with the Paris Agreement on climate change, while at a parallel summit, representatives of civil society demanded that the international community go further.
Unanimously endorsed by the UN Human Rights Council in 2011, the Guiding Principles on Business and Human Rights are the authoritative global reference point articulating the responsibilities of companies to respect and protect human rights.
After years of austerity, a number of Eurozone countries are now considering expansionary
fiscal policies. And in the UK, government spending is set to return to levels last seen in the 1970s
. But austerity abounds elsewhere in the world, including in some of the poorest countries.
Any balanced assessment of the so-called Chinese economic miracle
will recognize that it was extremely successful, not only during the reform period from 1979, but also since Liberation in 1949 despite the setbacks of the Great Leap Forward and the Cultural Revolution.
The International Monetary Fund (IMF), the World Bank and the World Trade Organization (WTO), all dominated by rich countries, have long promoted trade liberalization as a ‘win-win
’ solution for “all people—rich and poor—and all countries—developed and developing countries”, arguing that “the gains are large enough to enable compensation to be provided to the losers”.
Leading economic indicators have slowed or reversed. Criticisms of official statistics are mounting. But the IMF and World Bank continue to forecast 6-percent growth by simple extrapolation.
China’s almost meteoric transition from a being a low income to a middle income country within a span of four decades is often perceived as a miracle analogous to the post Second World War Japanese economic development experience.
According to official statistics, Luxembourg, a country of 600,000 people, hosts as much foreign direct investment (FDI) as the United States and much more than China. Luxembourg’s $4 trillion in FDI comes out to $6.6 million a person.
A conjuncture of developments, short- and medium-term, have conspired to further slow the world economy. In recent months, the International Monetary Fund (IMF), among others, has acknowledged that global economic prospects are worsening, forcing it to make not one, but at least five consecutive growth forecast revisions, all downward.
On Monday, United States President Donald Trump continued to float the idea that he should be awarded a Nobel Prize, but that it would never happen because the system was rigged.
When world leaders gathered in New York for the 70th session of the General Assembly back in 2016, and proclaimed the period 2016-2025 as the Third Industrial Development Decade for Africa (IDDA III), it reaffirmed the importance of industrialization in supporting Africa’s own efforts towards sustained, inclusive and sustainable economic growth and accelerated development.
Increasing economic inequality is a defining challenge of our time. In recent years, it has triggered analysis and reflection by many scholars, politicians and others on its causes and consequences on economic growth and efficiency, politics and democracy, human rights, individual behaviors, access to health, social cohesion and environmental degradation. The perception that the top 1% of income earners are gaining at the expense of the other 99% has resulted in widespread public debates in many countries on the social and political repercussions of inequality
UN Secretary-General Antonio Guterres describes the ongoing crisis as a “climate emergency”-- as the world continues its hard fought battle against devastating droughts, floods, hurricanes and rising sea levels that threaten the very existence of small island developing states located in low-lying areas.
In an alarming imbalance struggling families in rural Bangladesh spend almost US$2 billion a year on preventing climate-related disasters or repairing damage caused by climate change ― far more than either the Bangladesh government or international bodies.