The Asian Financial Crisis — 20 Years Later

It’s been 20 years since the Asian financial crisis struck in July 1997.   Since then there has been an even bigger global financial crisis, centred in the United States starting in 2008.  Will there be another crisis in the near future?

1997 Asian Crisis Lessons Lost

After months of withstanding speculative attacks on its national currency, the Thai central bank let it ‘float’ on 2 July 1997, allowing its exchange rate to drop suddenly. Soon, currencies and stock markets throughout the region came under pressure as easily reversible short-term capital inflows took flight in herd-like fashion. By mid-July 1997, the currencies of Indonesia, Malaysia and the Philippines had also fallen precipitously after being floated, with stock market price indices following suit.

Is Religion the New Colonial Frontier in International Development?

A decade ago, it was difficult to get Western policy makers in governments to be interested in the role of religious organizations in human development. The secular mind-set was such that religion was perceived, at best, as a private affair. At worst, religion was deemed the cause of harmful social practices, an obstacle to the “sacred” nature of universal human rights, and/or the root cause of terrorism. In short, religion belonged in the ‘basket of deplorables’.

Funding Climate Resilience Benefits All Nations – Yes, the U.S. Too

A leading climate change mitigation and adaptation activist and former climate negotiator in the Caribbean says that the United States could protect its economic and political interest by helping the region to go green.

Progress on World Hunger Has Reversed

World hunger has increased, reversing years of progress, said a UN specialised agency.During its biennial conference held in Rome, Italy from 3-8 July, the Food and Agriculture Organisation (FAO) noted that the world is facing it’s worst food crisis since World War II.

Is the United States Preparing for a War in Syria?

Although US policies during the past few months have been quite puzzling and unpredictable, the events of the past few days have been truly bewildering and alarming. On Monday 26th June, the White House released a statement saying that the United States had “identified potential preparations for another chemical attack by the Assad regime…” It went on to say: “If, however, Mr. Assad conducts another mass murder attack using chemical weapons, he and his military will pay a heavy price.”

‘Address African Rural Youth Unemployment Now or They Will Migrate’

In 2014 alone, about 11 million young Africans entered the labour market. But many see few opportunities in the agriculture sector and are constrained by a lack of skills, low wages, and limited access to land and financial services. Combined, this makes them more prone to migrate from rural areas.

Governments Support Trump’s Aim to Block Central American Migrants

Trying to make it into the United States as an undocumented migrant is not such an attractive option anymore for Moris Peña, a Salvadoran who was deported from that country in 2014.

Top 300 Cooperatives Generate 2.5 Trillion Dollars in Annual Turnover

The top 300 cooperatives alone generate 2.5 trillion dollars in annual turnover, more than the Gross Domestic Product (GDP) of France, according to the UN Department of Economic and Social Affairs (UNDESA).

Time Stands Still for Nepal’s Conflict Victims

“Reconstruction and reconciliation require finances and physical structure, but the families of the victims of the conflict first and foremost need their integrity protected. Physical and financial compensation mean little without justice,” wrote Suman Adhikari nearly 11 years ago, during a ceasefire in Nepal’s Maoist insurgency.

The Greater Caribbean Raises Funds to Protect its Sandy Coasts

Almost no Caribbean beach escapes erosion, a problem that scientific sources describe as extensive and irreversible in these ecosystems of high economic interest, that work as protective barriers for life inland.

Caribbean Seeks to Climate-Proof Tourism Industry

The tourism industry is the key economic driver and largest provider of jobs in the Caribbean after the public sector. Caribbean tourism broke new ground in 2016, surpassing 29 million arrivals for the first time and once again growing faster than the global average.

Ending Child Marriage Could Add Trillions to World Economy

The benefits of ending child marriage are many—boosting a young girl’s morale and increasing her chances of education and work, and by that virtue, curbing high population rates in developing economies and boosting growth.

Tokyo Workshops: Are Media and the Business Community Doing Enough on Sustainable Development ?

Why and how should the media report on the Sustainable Development Goals (SDGs) in an engaging way? Can the SDGs deliver global development? And what are the role and challenges of business leadership in advancing these goals?

Southeast Asia: From Miracle To Debacle

The World Bank and other influential international financial institutions and development agencies have been touting Southeast Asian (SEA) newly industrializing countries as models for emulation, especially by African developing countries seeking to accelerate their development transformations. But these recommendations are usually based on misleading analysis of their rapid growth and structural transformation.

Nikki Haley Grilled in US Congress on America’s Role in the UN and the World

Five months into her stint as United States ambassador to the United Nations, Nikki Haley faced two days of often-sharp questioning on June 27 and 28 by influential panels of the United States Congress. They demanded justification for the Trump administration’s decision to slash funding to the United Nations, particularly cuts to the UN Population Fund, Unicef, UN Women and the World Food Program.

Civilian Casualties Rise in Raqqa as Fighting Intensifies

As US-backed Syrian rebels plow ahead in the fight to take back Raqqa from the Islamic State in Iraq and the Levant (ISIL) in Syria, the stake of civilian lives, who number as many as 100,000 in the city, has raised concerns among top UN officials.

Insurance: A Valuable Incentive for Small Farmers’ Climate Resilience

Frequent extreme weather and climate shifts pose a challenge to already vulnerable groups such as smallholder farmers in the developing world. Between 2004 and 2014, farmers are said to have endured the brunt of the 100-billion-dollar cost of climate-related disasters.

Education, a Building Block for Sustainable Peace

Millions lack access to quality education around the world—but how can the international community change this?

Chilean President’s Apology to the Mapuche People Considered “Insufficient”

Chilean President Michelle Bachelet’s formal apology to the country’s Mapuche Indians, for the “mistakes and atrocities” committed against them by the Chilean state, is seen by indigenous and social activists in the central region of Araucanía – the heartland of the Mapuche people - as falling short.

Did Arab Coalition Threaten to Pull Out of UN in Protest?

When Saudi Arabia – which has been spearheading a coalition of Arab states in a devastating war against Yemen since 2015 – was accused of bombing civilians, and particularly children caught up in the conflict, the government in Riyadh threatened to cut off humanitarian funding to the world body.