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.
Transformations in international agricultural and rural development issues
Some major changes in international agricultural and rural development over the last 30-40 years need to be taken into account in efforts to promote sustainable development and an inclusive rural transformation (IFAD 2016
) as we approach the third decade of the millennium. This opinion piece, drawing on a longer article published in Agriculture for Development Journal (Summer 2019 Issue)
, seeks to stimulate reflection and debate on how work to support agricultural and rural development can evolve to address key challenges and opportunities related to migration, sustainable urbanization and youth in a changing global policy context.
Rapid financial globalization is due not only to financial innovations, but also to choices made by national policymakers, often with naïve expectations, trusting promoters’ promises of steady net inflows of financial resources.
It has been a long, arduous journey – a journey ridden curiously with obstacles and indifference. Two decades have passed by since the UN General Assembly (UNGA) adopted, by consensus and without reservation, its landmark and norm-setting resolution 53/243
on the Declaration and Programme of Action on a Culture of Peace in 1999.
For many people, climate change is about shrinking glaciers, rising sea levels, longer and more intense heatwaves, and other extreme and unpredictable weather patterns. But for women pastoralists—livestock farmers in the semi-arid lands of Kenya—climate change has forced drastic changes to everyday life, including long and sometimes treacherous journeys to get water.
In the grand European political reshuffle of 2019, it turned out that Christine Lagarde was the answer to the conundrum of who should replace Mario Draghi at the European Central Bank. But her move opens another question. Who succeeds Lagarde at the International Monetary Fund?
The geopolitical significance of key digital technologies now takes centre stage in a new global conflict between the US and China. The dispute over the Chinese technology group Huawei exemplifies this situation.
In a world of stagnating public aid, limited fiscal space, and rising public debt in low-income countries (LICs), can they realistically expect to rely more on private finance from foreigners? What does the evidence suggest?
International financial institutions (IFIs) have typically imposed wide-ranging policy reforms – called ‘conditionalities’ – in exchange for country governments to secure access to financial assistance.
While IFIs may demand anti-corruption policies, other IFI policy conditionalities, such as the privatization of state-owned enterprises (SOEs), can create new rentier opportunities, undermining government will and capacity to curb corruption.
When all is said and done, it appears that Thomas Hobbes, the 17th century English philosopher who had a dire vision of man, was not totally wrong.
From the frivolous to the serious, in just a week we have had four items of news which would not happen in a normal world. An English porn beauty with 86,000 followers on social media has put bottles of the water she bathes in on sale at 30 pounds a bottle and has sold several thousand bottles.
On 17 June, a Facebook white paper
proposed a new global digital currency it plans to launch in the first half of 2020. The Libra will be managed by a ‘not for profit’ Swiss-based Facebook-led consortium of ‘for profit corporations’, with Uber, eBay, Lyft, Mastercard and PayPal among its founding members.
For decades, the two Bretton Woods institutions have rejected the contribution of industrial policy (IP), or government investment and technology promotion efforts, in accelerating and sustaining growth, industrialization and structural transformation.
Finally, two International Monetary Fund (IMF) staff members, Reda Cherif and Fuad Hasanov, have broken the taboo. They embrace industrial policy, arguing against the current conventional wisdom that East Asian industrial policies cannot be successfully emulated by other developing countries.
As the focus of Australian politics shifts away from refugee and asylum-seeker policies, the government avoids accountability for inhumane actions.