The United Nations recently released the 70th anniversary issue of its flagship publication, the World Economic and Social Survey
(WESS). First published in January 1948 as the World Economic Report
, it is the oldest continuous publication analyzing international economic and social challenges. The 2017 issue reviews 70 years of WESS policy recommendations, many of which remain relevant today to address global challenges and to achieve the 2030 Agenda or Sustainable Development Goals.
The United States is lagging far behind its Western allies – and perhaps most of the key developing countries – in refusing to act decisively to end a longstanding health and environmental hazard: the use of mercury in dentistry.
The Maldives, one of the world’s low-lying, small island developing states (SIDS) -- threatened with extinction because of a sea-level rise-- is shoring up its coastal defences in anticipation of the impending calamity.
Recent protests in Ethiopia have seen people demonstrate in their thousands, angry at their authoritarian government, its favouritism towards those close to the ruling elite, and its failure to share the country’s wealth more equally.
When the finance ministers of the G7 countries proposed the G20 in the late 1990s, a good sense of realism prevailed. They recognized that addressing issues of global finance required the political support from—and involvement of—emerging market economies.
When we fail to act on lessons from a crisis, we risk exposing ourselves to another one. The 1997-1998 East Asian crises provided major lessons for international financial reform. Two decades later, we appear not to have done much about them. The way the West first responded to the 2008 global financial crisis should have reminded us to do more. But besides accumulating more reserves, Southeast Asia has not done much else.
The G20 leaders meeting in Hamburg, Germany, on 7-8 July comes almost a decade after the grouping’s elevation to meeting at the heads of state/government level. Previously, the G20 had been an informal forum of finance ministers and central bank governors from advanced and emerging economies created in 1999 following the 1997-1998 Asian financial crisis.
Wide-ranging economic reforms following the demise of the Soviet Union at the end of December 1991 mainly resulted in economic collapse in most successor states. By the mid-1990s, output had fallen by about half compared to 1989
International currency and financial crises have become more frequent since the 1990s, and with good reason. But the contributory factors are neither simple nor straightforward. Such financial crises have, in turn, contributed to more frequent economic difficulties for the economies affected, as evident following the 2008-2009 financial crisis and the ensuing Great Recession still evident almost a decade later.
Why is it so difficult to achieve meaningful coordination when everybody agrees that it is desirable, if not necessary? President Richard Nixon’s withdrawal of the US from and hence termination of the Bretton Woods system in 1971 confirmed the end of the post-war Golden Age. This led to slower growth, greater volatility, more instability, and reduced progress in raising economic welfare, among other consequences.
In just a few weeks, the United Nations is convening a world gathering to discuss the health of the world’s oceans and seas, with member states, government and nongovernmental organizations, corporations and members of the scientific community and academia signed up to take part.
The 17 Sustainable Development Goals (SDGs) – collectively drafted and then officially agreed to, at the highest level, by all Member States of the United Nations in September 2015 – involves specific targets to be achieved mainly by 2030. The Agenda seeks to “leave no-one behind” and claims roots in universal human rights. Thus, addressing inequalities and discrimination is central to the SDGs. Poverty and Shared Prosperity 2016: Taking on Inequality
is the World Bank’s first annual report tracking progress towards the two key SDGs on poverty and inequality.
Income and wealth inequality has increased in recent decades, but recognition of the role of economic liberalization and globalization in exacerbating inequality has never been so widespread. The guardians of global capitalism are nervous, yet little has been done to check, let alone reverse the underlying forces.
As part of efforts to move towards "climate-smart" agriculture, several countries have shared In a meeting in Rome new experiences on how to produce food in ways that help farmers cope with the impacts of climate change and to reduce greenhouse gas emissions in agriculture.
Urgent action is needed to save the lives of people facing famine in North Eastern Nigeria, Somalia, South Sudan and Yemen, the UN leading food and agriculture agency’s chief on April 28 warned. "If nothing is done, some 20 million people could starve to death in the next six months."
Indigenous women, while experiencing the first and worst effects of climate change globally, are often in the frontline in struggles to protect the environment.
One of the 11 areas that the World Bank’s Doing Business
(DB) report includes in ranking a country’s business environment is paying taxes. The background study for DB 2017, Paying Taxes 2016
claims that its emphasis is “on efficient tax compliance and straightforward tax regimes”.
In the context of global development, ‘no one is left behind’ brings with it a powerful message. It emphasizes progress- one that is inclusive, fair, integrated and empowering. The phrase ‘No one is left behind’ is mentioned some five times in the 2030 Agenda for Sustainable Development
that was adopted by all governments at the United Nations in 2015. The Agenda is a plan of action for people, planet, peace and prosperity. It has globally agreed 17 Sustainable Development Goals and 169 ambitious targets, and should be achieved within the next decade ‘to end poverty and hunger everywhere; to combat inequalities within and among countries; to build peaceful, just and inclusive societies; to protect human rights and promote gender equality and the empowerment of women and girls; and to ensure the lasting protection of the planet and its natural resources.’
People in Yemen are currently suffering from the world’s largest humanitarian crisis.More than 17 million people around Yemen’s rugged landscape are acutely food insecure, and the figure is likely to increase as the ongoing conflict continues to erode the ability to grow, import, distribute and pay for food. More than 7 million people are on the verge of famine, while the rest are marginally meeting the minimum day-to-day nutritional needs thanks to external humanitarian and livelihoods support. Large-scale famine is a real risk that will cast an awful shadow for generations to come.
Investor-state dispute settlement (ISDS) provisions in bilateral investment treaties (BITs) and free trade agreements (FTAs) have effectively created a powerful and privileged system of protections for foreign investors that undermines national law and institutions.