Various different, and sometimes contradictory lessons have been drawn from the 1997-1998 East Asian crises. Rapid or V-shaped recoveries and renewed growth in most developing countries in the new century also served to postpone the urgency of far-reaching reforms. The crises’ complex ideological, political and policy implications have also made it difficult to draw lessons from the crises.
While many often focus on wealth disparities, economic inequality is often a symptom and cause of other inequalities including women’s access to sexual and reproductive health.
Good healthcare can be hard to get – particularly when one lives on top of a mountain. The road to Porcón in the Cajamarca region of Peru, therefore, is as breathtaking as it is sobering. With every step further into its isolated natural beauty, a group of volunteers sent to deliver healthcare essentials are reminded how long the trek would be in an emergency.
Two years ago on 25 September 2015, 193 governments agreed to an action plan to end poverty, protect the planet and foster international peace by adopting the UN´s Sustainable Development Goals (SDGs).To mark the anniversary, thousands of people participated in over 850 events across 110 countries to raise awareness for the goals and to hold governments accountable for their slow rollout of national implementation programs.[caption id="attachment_152254" align="aligncenter" width="430"]Note: More information as well as photos and stories from all over the world can be found at act4sdgs.org
Investing in youth and the population dividend, women's health, sustainable development objectives, and the key role of parliamentarians to promote transparency, accountability and good governance to achieve the 2030 Agenda on Sustainable Development topped the agenda of a two-day conference of Asian and African lawmakers in New Delhi last week.
Two years ago, world leaders joined together to endorse a new and ambitious agenda not to reduce poverty but to eradicate it, not to lessen hunger but to end it once and for all, and not to overlook inequality but jointly to attack it.
Taken together, the 2030 Agenda for Sustainable Development (SDGs) and the Paris Agreement on Climate Change, provide humanity with a masterplan for a sustainable way of life on this planet.
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.