Globalisation

East Asian Lessons for Controlling Covid-19

By Nazihah Muhamad Noor and Jomo Kwame Sundaram
By the third week of March 2020, the number of Covid-19 deaths in Italy had overtaken the number of deaths in China. Authorities all over the world are restricting the movements of their populations as part of efforts to control the spread of Covid-19.

Fighting Coronavirus: It’s Time to Invest in Universal Public Health

By Isabel Ortiz and Thomas Stubbs
Austerity policies pushed by international financial institutions have weakened public health systems, despite current financial support packages, condemning many people to die.

TikTok: Expressive Mechanism for many dealing with today’s world

By Fairuz Ahmed
“What do you get from the TikTok videos? Do you prefer the platform for entertainment, passing time or for connecting with your friends? I have seen comical videos, venting sessions and some that do not make any sense what so ever and some are just rude, making fun of others.” I asked the 14-year-old k-popper teenager flipping through the pages of a manga book while he chose to respond in English coming from a Spanish speaking family and studying Mandarin as a third language.

War No More

By Cora Weiss
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.

Intellectual Property Raises Costs of Living

By Claire Lim and Jomo Kwame Sundaram
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 Increases Inequality

By Jomo Kwame Sundaram and Michael Lim Mah Hui
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.

UN Chief Warns of Rising Misogyny, Xenophobia, Discrimination, Racism & Hate Speech

By Antonio Guterres
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.

Social Summit Demands Stronger Commitments in Climate Talks

By Emilio Godoy
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.

Forced to Flee. Displaced with a Dream. Time for Action.

By Yasmine Sherif
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.”

Climate Summit Kicks Off, Caught Between Realism and Hope

By Emilio Godoy
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.

Businesses Have Key Role in Safeguarding Human Rights

By Peter Paul van de Wijs
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.

More Austerity for Developing Countries: It’s Bad News, and It’s Avoidable

By Isabel Ortiz and Thomas Stubbs
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.

Liberation, Not Liberalization, Responsible for China’s Economic Miracle

By Vladimir Popov and Jomo Kwame Sundaram
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.

Trade Liberalization for Development?

By Jomo Kwame Sundaram and Anis Chowdhury
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”.

If India Stopped Growing, Would the IMF and World Bank Say So?

By Justin Sandefur and Julian Duggan
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.

Hollywood and Business Luminaries Spotlight World’s ‘Stateless’ Woes

By James Reinl
Movie star Cate Blanchett and businessman Richard Branson spoke up this week for the millions of people around the world who cannot get passports and other papers because they lack an official nationality.

‘Salty’ Concern: Tackling High Salt Consumption in China

By Veena S. Kulkarni and Raghav Gaiha
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.

The Rise of Phantom Investments

By Jannick Damgaard, Thomas Elkjaer and Niels Johannesen
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.

Countercyclical Fiscal Policy Needed to Counter Global Economic Downturn

By Jomo Kwame Sundaram
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.

We Have Swung into the Dark Ages, Says Nobel Peace Laureate Jody Williams

By Anna Shen
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.

Africa’s Industrial Development: Turning Challenges into Opportunities

By Li Yong
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.
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