The global economy weakened significantly towards the end of 2011 and further downward pressure emerged in the course of 2012. The growth rate of global output, which had already decelerated from 4.1 percent in 2010 to 2.7 percent in 2011, is expected to slow down even more in 2012 to around 2.3 per cent. Developed economies as a whole are likely to grow by only slightly more than one per cent in 2012, owing mainly to the recession currently gripping the European Union (EU).
Despite a sudden increase in July this year, prices of cereals on world markets remained fairly stable. But there are no grounds for complacency, as cereals markets remain vulnerable to supply shocks and disruptive policy measures. In this context, the good harvests that are expected in the Southern Hemisphere are important.
Multilateralism is at a crossroads. This is a crucial matter for environmental and sustainability issues, as we have seen in the Rio+20 Summit, and for trade and other economic matters. The G20 Summit in Los Cabos, Mexico, focused precisely on improving our collective response to the current economic turbulence, which is at the heart of developments in the European Union (EU) as well.
The head of the International Monetary Fund (IMF), Christine Lagarde, on Wednesday urged countries to act on a suite of reform measures that would significantly increase the voices of developing countries within the agency.
Business will push for the freeing up of trade in green goods and services, at the upcoming summit of heads of state of the Group of 20 (G20) industrialised and emerging countries in Mexico.
In a renewed funding focus on large-scale infrastructure, the World Bank, Group of 20 (G20) countries and other multilateral groups are wilfully overlooking lessons learned decades ago, a new report by International Rivers warns.
For a start, stop calling it "aid", Brian Atwood, chair of the Development Assistance Committee at the OECD, tells IPS.
Last Friday Benoit Miribel, President of Action Against Hunger, delivered a strong indictment of the outcome of the Group of 20 (G20) summit in the south of France: "The G20 meeting in Cannes has been a missed opportunity."
If Chinese detractors of liberal democracy and unbridled market development ever needed more fodder for their attacks on the West, then last week's Greek farce provided plenty. But behind the headlines announcing "the collapse of Europe" there is little sense of ideological triumph. Instead Beijing is busy drawing up contingency pans for the break up of the eurozone and absorbing the lessons of welfare state excesses.
While the Greek bailout and stimulus package dominated discussion among the Group of 20 (G20) major industrialised and emerging market economies at the high-level summit in Cannes, France, this week, the proposed financial transactions tax (FTT) received meagre attention.
While the 20 heads of state of the Group of 20 (G20) industrialised and emerging countries gather in southern France to deliberate on the future of the global economy – particularly the crises unfolding in the Eurozone – pockets of activists are amassing around the summit to make their voices heard.
When the G20 leaders meet for their fifth summit in Cannes, France, on Thursday, they will be confronted with several worsening global economic and trade issues. Among them is how to strengthen the international trading system and how to overcome the developmental deficit that continues to create an uneven playing field for poor countries.
Anti-globalisation and anti-capitalist groups are gathering ahead of the G20 meeting in Cannes in the south of France next week.
Responding to pressure from civil society and members within their own ranks, the Group of 20 industrialised and emerging countries on Saturday said they were committed to reforming the financial sector and were examining innovative methods to fund development.
As global working-class outrage against corporate capitalism explodes in organised protests around the world, scores of citizens in Spain are demanding an end to tax breaks for the wealthy.