You are at: Home > News and Analysis New Web Links - Thu, 8 Oct: Pakistanis balk at US aid package: Although Pres Obama has praised the $7.5B 5-yr aid program approved by Congress last wk, Pakistani officials have objected to provisions that require US moni- toring of everything from how they spend the money to the way the military promotes senior officers. The criticism threatens to compli- cate the admin's efforts in the region, where Pakistan's assistance is seen as crucial to the Afghan war, Washington Post (free registr reqd), 8 Oct 09 Southern Africa outpaces North Africa in governance performance - Ibahim Index: Mauritius tops the latest yearly Ibrahim Index of Governance, which is Africa's leading assessment of governance, established to inform & empower the continent's citizens. Cape Verde is 2nd, followed by Seychelles, Botswana, & SAfrica. The index measures the delivery of public goods & services to citizens by govt & non-state actors across 84 indicators, Ibrahim Founda- tion, 5 Oct 09 New report sees recovery in global capital flows after year of in- tense strain: A new forecast sees a rise in overall capital flows to emerging markets in '10, after plunging this year. Capital flows to emerging markets resumed in the 2nd qtr of '09, and this revival has gathered pace in the 3rd qtr, acc to the latest Capital Flows to Emerging Market Economies, Inst Intl Finance, 3 Oct 09 Notice from the Publisher about the disruptions in our posting: In case you are wondering why we weren't able to post the past two days (Mon and Tue, 5-6 Oct), Emerging Markets: The Unofficial Field Guide, 7 Oct 09 Posted on Wed, 7 Oct 09: Robert Fisk: A financial revolution with profound political implica- tions -- Arab states have launched secret moves with China, Russia and France to move away from pricing oil in dollars - a potential blow to the greenback's prestige, Independent/UK, 7 Oct 09 (The demise of the dollar) New report calls for IMF governance, surveillance reforms: The G30, which consists of senior representatives from public & private financial sectors & academe, said that, along w/ other reforms, the Fund should conduct an open, merit-based, transparent process in the selection of its head, who should not be chosen on the basis of nationality, Group of Thirty, 5 Oct 09 [pdf] New UN development report challenges common migration miscon- ceptions: Allowing for migration - both w/in & bet. nations - has the potential to increase people's freedom & improve the lives of millions around the world, acc to the latest yearly Human Develop- ment Report.Also released as part is the latest Human Development Index (HDI), a summary indicator of people's well-being,combining measures of life expectancy, literacy, school enrolment & GDP per capita, for 182 nations, UNDP, 5 Oct 09 [pdf] Posted on Fri, 2 Oct 09: Arvind Subramanian: The IMF beyond Istanbul -- The IMF will strike a triumphalist tone at its annual meeting in Istanbul. Some of this will be warranted because its record in responding to the global financial crisis is commendable, even if its record leading up to it is less stellar. Beyond Istanbul, 2 key changes will signal whether the leopard has truly changed its spots, says Inst senior fellow, Busi- ness Standard/India (courtesy Peterson Inst), 30 Sep 09 (IMF-WB annual meet in Istanbul) Binge consumption was reckless, irresponsible and it's over, says economist Roach: Morgan Stanley Asia chair Stephen Roach blames central banks and financial authorities for leaving monetary policy too loose during times of strong growth and for utterly failing to do their job in this period of excess, Biz Intelligence Middle East/ UAEmirates, 18 Sep 09 (Globalist--Central banks in the post-crisis world | Book--The Next Asia: Opportunities & challenges for a new globalization [w/ excerpts]) Recent Links: Global recovery under way but likely to be slow: The world econo- my is forecast to contract by about 1% in '09, but will expand by about 3% in '10, acc to the just released twice-yearly World Econo- mic Outlook. For emerging & developing economies., GDP growth is forecast to reach 5% in '10, up from 1.75% in '09. The rebound is driven by China, India, & a no. of other emerging Asian nations. African & Mideast nations are also expected to post solid growth of close to 4%, helped by recovering commodity prices, IMF Survey Mag, 1 Oct 09 Disaster-hit Asia counts the dead: Dazed Asia-Pacific nations reel from the full force of nature's fury today w/ thousands feared dead in a rapid-fire onslaught of earthquakes, tsunamis & typhoons. Res- cuers pick through rubble after a huge quake struck Indonesia & a towering tsunami deluged the Samoan islands, while millions of flood-hit storm survivors in SE Asia brace for a new super-typhoon, Ag. France-Presse (courtesy AAJ TV/Pakistan), 1 Oct 09 Mouse & wo/man: High speed internet is key to econ growth, job creation in developing nations, says report -- A recent report finds that access to affordable, high-quality internet & mobile phone ser- vices enables development across all levels of society. Last pub- lished in '06, the report, Information & Communications for Devel- opment, identifies the mobile platform as the single most powerful way to reach & deliver services to people in remote & rural areas, World Bank, 30 Jun 09 (In the Philippines, IT is a tide that lifts all boats) IMF sees global finance stabilizing, lower bank losses: Financial sectors around the world are stabilizing, the IMF said today, as it slashed its forecasts of bank losses for the 1st time since Wall St's near collapse just over a year ago. In its twice-yearly Global Finan- cial Stability Report, it cut its forecast for global writedowns to $3.4T,down from $4T predicted in Apr.But it also warned vs 'com- placency' & urged govts to keep their unprecedented interventions in fincl firms in place until a recovery is more assured, Deutsche Presse-Agentur (courtesy Earth Times), 30 Sep 09 Companies can beat the odds of successfully globalizing their R&D by following 4 'golden imperatives': A new study reveals why some companies' R&D centers in China, India, and other rapidly develop- ing economies are reaping significant strategic benefits, while others are struggling, Boston Consulting Group, 27 Aug 09 Which nations will advance? Watch their 'Legos': Think of a nation- al economy as a bucket of Legos. Some nations have a huge and varied supply of the plastic building blocks; others have very few. Nations w/ a larger variety of building blocks will have what it takes to make more products, CSMonitor, 13 Jul 09 (Harvard--Mapping building blocks of economic complexity) Coffee/tea room: Fair Trade--What price for good coffee?: Fair Trade is a global campaign that for 25 yrs has sought to bring strug- gling Third World farmers out of poverty by paying them higher-than-market prices for everything from coffee to quinoa. Along the way, it has recruited retail giants like Starbucks, which is the globe's largest purchaser of Fair Trade-certified coffee.But the future of the Fair Trade-coffee movement is in question, as some backers raise concerns about whether it has reached its limits, Time, 28 Sep 09 Flood disasters -- Learning from previous relief & recovery oper- ations: Key lessons from evaluations of past responses to flooding are highlighted to enable agencies to learn & adapt their responses to future disasters.The briefing paper analyzes flood responses from the last 20 yrs in Africa, Asia & the Americas, Active Learning Net- work for Accountability/Performance in Humanitarian Action and ProVention Consortium, Jan '08 (Mainstreaming disaster risk reduc- tion into development: Challenges & experience in the Philippines, w/ exec sum, Mar '09, 1.2MB) [pdf] Mouse & wo/man: Tip--To open your article of interest in a new tab (or window), right-click your mouse and select "Open in new tab" (or window). Mouse & wo/man: Tip--A number of our linked articles are in pdf [ie, portable document format], which requires free Adobe Acrobat Reader software. Pls. follow this link to download. _______________________ G20 leaders agree on reforms, poor still 'out in the cold': The heads of the world's biggest economies vowed to reform banking sectors & raise capital standards, replace the G8 w/ the G20 as the primary forum for intl econ diplomacy, endorse a World Bank-led food se- curity initiative for the world's poorest nations & commit to phasing out fossil fuel subsidies. Yet some note that while the G20 is more representative than the G8, there is still no seat at the table for the poorest nations, Inter Press Service, 25 Sep 09 (Europeans resist more clout for South in IMF) A changing climate for development: Climate change complicates efforts to reduce poverty in developing countries, but a 'climate- smart' world is possible if we act now, act together, and act differ- ently, says a new annual World Development Report, World Bank, 15 Sep 09 Posted: 21-25 Sep 09 G20 to replace G8: The Group of 20 of the world's biggest devel- oped & emerging economies will replace the G8 as the world's premier economic body, the White House announced today. The G8 - Canada, France, Germany, Italy, Japan, Russia, UK & US - has served in various forms as the premier econ forum since '75 & held closely watched annual summits. G20 adds Argentina, Austra- lia, Brazil, China, India, Indonesia, Mexico, Saudi Arabia, SAfrica, SKorea & Turkey to the club, Radio France Intl, 25 Sep 09 (Der Spiegel--G20 relaunched as world's top econ forum) C Bradford & J Linn: Welcome to the new era of G20 global lead- ership--The global crisis has moved the world toward a new global econ order, w/ the G20 summit as one of the principal manifesta- tions of the new global governance system. In addition to the fincl crisis, the G20 can also serve as a platform for addressing other pressing issues incl trade, climate change, energy & food security, & reform of global institutions, say Inst senior fellow & Wolfen- sohn Ctr Dev dir, Brookings Inst, 17 Sep 09 [pdf] (Is the G20 summit a step toward a new global econ order?) Coffee/tea room: Giant 'meat-eating' plant found -- A new species of giant carnivorous plant has been discovered in the Philippines. Word that this new species of pitcher plant existed came first from 2 missionaries who in 2000 attempted to scale a rarely visited peak in central Palawan in the Philippines. With little preparation, they attempted to climb the mountain but became lost before being res- cued. On their return, they described seeing a large carnivorous pitcher, which piqued the interest of 3 experts, BBC News, 11 Aug 09 (Botanical J of Linnean Society--A spectacular new species of pitcher plant from the Philippines) Obama moves from UN to G20: US Pres Obama moves from leading the UN Security Council Thu morning to hosting the Group of 20 summit Thu night. In Pittsburgh, the host city for the G20 econ summit, he and the first lady will greet world leaders as they arrive, United Press Intl, 24 Sep 09 (AFP--G20 leaders meet to reform world economy [courtesy ChNewsAsia/Singapore] | Pitts- burgh summit | G20 site} Ngaire Woods: Intl response to global crisis & reform of intl finan- cial & aid architecture -- People in developing nations are suffering disproportionately from this global crisis, & intl institutions have a long way to go to ensure the financing & mechanisms of assistance that can address this development emergency, says Oxford global econ governance prog dir, in a policy briefing for the European Parliament (incl exec sum), 17 Sep 09 [courtesy Oxford U, pdf] Edwin Truman: Pittsburgh priorities--G20 leaders will meet for the 3rd time in 10 mos. to discuss the global econ crisis, prospects for recovery, and reforms of the global econ and financial system to limit the virulence of future crises. What do the leaders need to say to turn their Pittsburgh summit into a success?, asks Inst senior fellow, Peterson Inst, 8 Sep 09 China, US try to jumpstart UN climate talks: With less than 3 mos. until a UN conference aimed at sealing the world's toughest pact to fight climate change,UN Sec-Gen Ban called Tue's leaders' summit to give negotiations an extra shove. The 1-day summit drew nearly 100 heads of state/govt before official talks among 190 nations in Copenhagen in Dec to forge a replacement for the Kyoto Protocol, whose 1st phase runs out at the end of '12. China laid out a plan to curb carbon emissions by '20, & US Pres Obama called on all na- tions to act now to tackle global warming, Reuters (courtesy Ma- laysia Star), 23 Sep 09 Robert Shiller: Why economists failed to predict the crisis -- The widespread failure of economists to forecast the financial crisis has much to do w/ faulty models.This lack of sound models meant that policy makers & central bankers received no warning of what was to come. This crisis was driven by speculative bubbles in the hous- ing market, stock market, & energy & other commodities markets. But you won't find the word 'bubble' in most econ textbooks, says Yale economist, Proj Syndicate (courtesy Gulf Times/Qatar), 22 Sep 09 Close ties led to crisis in world's 5 major economies: Integrated financial & banking systems & close trade ties were major factors in spreading the worst fincl crisis in 60 yrs, a new study finds. The 'Systemic 5', the world's 5 'systemically important' economies - US, Euro area, China, Japan & UK (which has a highly international- ized banking sector) - account for more than 1/2 of global output, 70% of net global fincl flows, & almost 2/3 of global saving, IMF Survey Mag, 21 Sep 09 (Related: Advance release of World Econ- omic Outlook's analytic chs) Zelaya's daring return reignites Honduras crisis: The deposed Pres Zelaya's return has thrust Honduras back onto the world stage and posed a sharp challenge to interim leaders determined to hold new elections w/o him after a June coup. Thousands of Zelaya support- ers defied a curfew and spent the night surrounding Brazil's em- bassy,where the leader remained holed up Tue, a day after slipping back into the nation. He said he had traveled for 15 hrs overland in a series of vehicles to pull off the stealth homecoming, AP (cour- tesy China Post/Taiwan), 22 Sep 09 Hong Kong has highest levels of economic freedom followed by Singapore & New Zealand: Hong Kong is again 1st in the rankings of 141 nations by a think tank.Acc to the latest Economic Freedom of the World, HK is followed by Singapore, New Zealand, Switzer- land & Chile.The yearly report uses 42 different measures to create an index ranking nations on policies that encourage econ freedom, Fraser Inst/Canada, 14 Sep 09 [pdf] Resilient Asia poised to lead recovery from global slowdown: De- veloping Asia is proving to be more resilient to the downturn than was initially thought,says a new report which forecasts econ growth in '09 to be higher than expected at 3.9% from 3.4%. In '10, the growth forecast is also upgraded to 6.4% from 6.0%, Asian Devel- opment Bank, 22 Sep 09 Robert Lucas: In defense of the dismal science -- There is wide- spread disappointment w/ economists because we did not forecast or prevent the financial crisis of '08. Macroeconomists are carica- tured as a lost generation educated in the use of valueless, even harmful, math models, an education that made them incapable of conducting sensible econ policy. This caricature is nonsense & of no value in thinking about the larger questions: What can the public reasonably expect of economists, & how well has it been served by them in the current crisis?, notes Nobel laureate '95, Economist, 6 Aug 09 Paul Krugman: Keynes-The Return of the Master, by Robert Ski- delsky -- 'At seminars, people don't take Keynesian theorizing ser- iously anymore; the audience starts to whisper & giggle to one an- other.' So declared U Chicago's Robert Lucas, writing in '80. At the time, Lucas was arguably the world's most influential macro- economist; the influence of J M Keynes, the British economist whose theory of recessions dominated policy for a generation after WW2, seemed to be virtually at an end. But Keynes, it turns out, is having the last giggle, says Nobel laureate '08, Observer/UK, 30 Aug 09 (Public Affairs Bks | Outline in Wikipedia) Emerging markets continue to outperform for UK biz: A new commissioned report gives fresh insights into the opportunities & long-term strategic importance offered by emerging economies. It is based on a survey of more than 540 high-level biz execs from 19 biz sectors. When asked which emerging markets, beyond the BRICs, they are considering entering over the next 5 yrs, the top 10 are Vietnam, UAEmirates, Mexico, SAfrica, Malaysia, Indone- sia, Singapore, Turkey, Philippines & SArabia, UK Trade & In- vestment, 17 Sep 09 (Survive & prosper: Emerging markets in the global recession--Exec sum | Tomorrow's markets [pdf]) Posted: 14-18 Sep 09 C-suite/Boardroom: 2 SKorean brands among world's top 100--In a yearly ranking by a branding consultancy firm, almost all the brands are from cos. in developed nations. Only 2 from emerging markets made the top 100. Samsung took 2nd spot in consumer electronics,while Hyundai ranked 8th among 11 automotive brands. The top 5 spots overall went to Coca Cola, IBM, Microsoft, GE & Nokia, Korea Herald | Telecoms Korea, 18 Sep 09 (Interbrand's best global brands | Top 100 [via PRNewswire]) Global foreign direct investment inflows continue to slide in '09; significant recovery expected only in '11: As a result of a worsen- ing of the crisis in '08, prospects for global FDI remain gloomy, says a yearly report. While FDI inflows declined globally & in dev- eloped nations, flows to developing nations & the transition econ- omies of SE Europe & the Commonwealth of Indep. States contin- ued to rise last yr. This reflected, in part, a delay as the downturn worked its way through the developing nations & slowly affected their exports, Unctad, 17 Sep 09 (Regional FDI info | World In- vestment Report) Coffers: Jonathan Anderson--Emerging markets poised to perform: For those who cut their teeth on emerging markets in the rough-&- tumble days of the '80s & '90s, the spectacle of the past 7 or 8 yrs has been unusual to say the least. Everyone knows that developing nations are tactical & highly cyclical plays at best, w/ a tendency to blow up & ruin paper fortunes. Yet when was the last time we saw such a long period of unimpeded, rapid & across-the-board growth in the low-income world?, asks UBS economist, Far Eastern Econ- omic Review, 4 Sep 09 Al Gore: We have arrived at a moment of decision -- Earth is in grave danger. What is at risk of being destroyed is not the planet itself, but the conditions that have made it hospitable for human beings. Yet, we must face up to this unprecedented threat at a time when our economy is in its deepest recession since the '30s. And our natl security is endangered by a vicious terrorist network & the challenge of ending the war in Iraq honorably while winning the struggle in Afghanistan. As we search for solutions to all 3, it is becoming clearer that they are linked by a common thread - our dangerous over-reliance on carbon-based fuels, Testimony-Senate Foreign Rel Cmte, 28 Jan 09 (His new climate crisis bk) Bjorn Lomborg: Mr Gore, your solution to global warming is wrong--The plan we are most likely to adopt to address climate change will cost far too much & do next to nothing. The fight over the science of warming is over, yes. But the debate over the solu- tion to global warming hasn't even begun, says author of 'Skeptical Environmentalist' and 'Cool It', Esquire, 15 Jul 09 (Among 75 most influental people of the 21st century--Al Gore | Lomborg) Ozone protection unifies the world: In '94, the UN Gen Assembly proclaimed 16 Sep the Intl Day for the Preservation of the Ozone Layer, commemorating the date in '87 on which the Montreal Pro- tocol on substances that deplete the ozone layer was signed, UN Environ Prog, 16 Sep 09 (1st environ agreement ratified world- wide | Seal the Hole in the ozone layer and Seal the Deal [pdf]) Brazil GDP grows, ends two-qtr recession: LatAm's largest econ- omy made a stronger-than-expected exit from recession in the 2nd qtr, returning to growth after a slump sparked by the global finan- cial crisis. The crisis that hit Brazil last yr gatecrashed a 5-yr econ boom that had pulled millions out of poverty & created a new class of low-income consumers hungry for their 1st refrigerator, car or apartment, Reuters (courtesy Alibaba/China), 13 Sep 09 (Busi- nessWeek--Brazil's coming rebound) Joseph Stiglitz: Needed - A better measure of economic perform- ance--18 mos. ago, French Pres Sarkozy established an intl Com- mission on the Measurement of Economic Performance & Social Progress, owing to his dissatisfaction - & that of many others - w/ the current state of statistical info about the economy & society.On 14 Sep, the comm will issue its long-awaited report, says Nobel laureate '01, Proj Syndicate (courtesy Gulf Times/Qatar), 10 Sep 09 (The report will be available at the Comm's site) Coffers: NAmerica overtaken by Europe as world's richest region, says report -- The crisis is transforming the global map of the world's wealthiest people, w/ Europe nudging out NAmerica as the richest region, as equity-heavy US ivestors are hit w/ steep losses. LatAm is the only region where wealth increased. Singapore has the highest concentration of millionaires, while 3 of the 6 densest millionaire populations are in the Mideast. Switzerland remains the largest offshore center & some nontraditional offshore centers - incl several outside Europe - remain poised for growth, Boston Consult. Grp, 15 Sep 09 (Last yr's report) Michael Spence: Emerging markets after the global financial crisis --The crisis, w/ its origins in the advanced country fincl systems, has raised questions about our grasp of the evolving structure of the system & our ability to keep up with its shifting risk character- istics, a prerequisite for effective self-regulatory defenses. What will policymakers in developing nations make of all this & how will their responses affect investment opportunities & returns in emerg- ing markets?, asks Nobel laureate '01, Pimco, Aug '09 What if?: If Lehman had not failed, would the crisis have happened anyway? -- Harold James, an econ historian at Princeton U, says Lehman's failure was analogous to the collapse of Creditanstalt, a big Austrian bank, in '31. Austria & Germany had borrowed heav- ily from foreign creditors & the bank's failure rippled around the world, vastly intensifying the Depression. Lehman's failure is wide- ly seen as a similar turning point in the current crisis. Kenneth Rog- off has a different view, Economist, 10 Sep 09 (Princeton U Pr--This Time is Different: Eight centuries of financial folly) Posted: 7-11 Sep 09 Faces of the crisis -- One crisis, 6 lives: 6 people in 6 different na- tions, who live very different lives -- an auto worker in Japan; a dock worker in Argentina; a real estate agent in Spain; an invest- ment banker in the US; a farmer in Cote d'Ivoire; & a single parent in Haiti. They have never met each other, & most likely never will, but they all have one thing in common -- 6 lives, all turned upside down by one global economic crisis, Finance & Development, Sep-Nov '09 [pdf] Postcolonialism: An economist's plan to save the world's poor - new 'charter cities', built around profits. Paul Romer thinks mega- cities can save the poor. The idea is to encourage developing na- tions to surrender uninhabited coastlines as independent districts, where rich nations and large corporations can invest and develop export-led economies, Forbes, 2 Sep 09 (Stanford info | Romer at TED [Tech, Entertainment, Design] | Theory of history) Rwanda is this year's top reformer, East Europe and Central Asia fastest reforming region, says Doing Business report: Since '04, this annual report has been tracking regulatory reforms aimed at improving the ease of doing business. This year, reformers were particularly active in East Europe and Central Asia, and the Middle East and NAfrica regions. The top 10 reformers are Rwanda, Kyr- gyz Rep., Macedonia FYR, Belarus, United Arab Emirates, Mol- dova, Colombia, Tajikistan, Egypt & Liberia, World Bank, 9 Sep 09 (Economy rankings) Eight years on, Obama to lead 9/11 tributes: Events are scheduled across the US to remember the day when Americans watched in horror as 4 airliners hijacked by Al-Qaeda were flown into the World Trade Center towers in NY, the Defense Dept headquarters in Washington & a Pennsylvania field. For many, it is a time to re- member US troops serving abroad, incl those sent to Iraq & Af- ghanistan after the 'war on terror' declaration, Ag. France-Presse (courtesy Emirates Biz/UAE), 11 Sep 09 (Natl 9/11 Memorial & Museum) M O'Hanlon & B Riedel: Measuring progress toward peace in Af- ghanistan--The pres owes Congress a report this mo. on metrics for gauging progress in Afghanistan. Using metrics in war is perilous business. Assessing progress in war - esp. this kind of counterinsur- gency mission & state-building enterprise - is more art than science. But while it may be art, it must not be fiction. Based on our experi- ences in & out of govt, we would offer several guidelines on how to interpret quantitative data from the conflict, say Brookings Inst senior fellows, Washington Times, 1 Sep 09 Rising unemployment marks 3rd wave of crisis, says IMF chief: The 1st 2 waves were the financial crisis and the consequent global economic crisis. 'Imagine the worker who will lose his job in the mos. ahead. For that worker the crisis is not behind him, but still ahead,' he said, IMF Survey Mag, 5 Sep 09 (G20 Pittsburgh summit) Switzerland replaces US at top of competitiveness rankings: Swit- zerland tops the overall ranking in the latest Global Competitive- ness Report released today. US falls one place to 2nd position, w/ the weakening in its financial markets and macroeconomic stability. Singapore, Sweden and Denmark round out the top five, World Economic Forum, 8 Sep 09 (Full rankings [pdf] | Report) Mouse & wo/man: Happy Birthday to the Internet--A simple data exchange sparked the age of the Internet. 40 years ago,2 computers at UCLA exchanged meaningless data in the first test of the Ad- vanced Res Proj Agency Network (Arpanet), an experimental mili- tary network.This exchange would plant the seed for what would become the most advanced communications network in all of hu- man history, Natl Public Radio, 2 Sep 09 (AP--Internet turns 40 | Gizmodo--First photo | AP--Key milestones) [courtesy Discovery Ch & Ethiopia Rev] Ed's note: Our posting was disrupted again yesterday, Mon (7 Sep), due to an incident identical to one we mentioned in an earlier post (see below). Notice from the Publisher about the disruptions in our posting: Our visitors who visit the site daily may have noticed that in the past week, we were not able to post twice - last Fri (14 Aug) and again, just this Wed (19 Aug), Emerging Markets: The Unofficial Field Guide, 21 Aug 09/ Updated 27 Aug 09 Posted: 31 Aug-4 Sep 09 Stiglitz says US economic recovery may not be 'sustainable': The US economy faces a 'significant chance' of contracting again after emerging from its worst recession since the '30s, Nobel laureate Joseph Stiglitz said. And he sees 2 scenarios for the world's largest economy in the coming months, Bloomberg, 4 Sep 09 Michael Spence: Govt's role in the financial crisis -- Govt has sev- eral roles to play in this kind of crisis.One is to protect the most ad- versely affected. A 2nd is to act as an emergency repair service & fix things that break - like the credit system - when leaving them unattended would cause widespread collateral damage well in ex- cess of the costs of the temporary fixes. Keep the car running even if only on a couple of cylinders. But there is a 3rd role, which has to do w/ introducing a circuit breaker into the reinforcing negative dynamics. It is this role that is the most complex & controversial, says Nobel laureate '01, Pimco, Apr '09 Coffee/tea room: 'Dr. Beach' names top 10 beaches--Beaches are the no.1 recreational destination. These sandy playgrounds that line the coasts are the most extensive natural parks in the nation. Noth- ing restores the body & soul like a stay at the beach. We are natur- ally drawn to the rhythmic pounding of the waves as if returning to our primordial beginnings. Here is a ranking from a coastal expert w/ the Lab for Coastal Research, Florida Intl U, 22 May 09 [pdf] (Beach info | Yahoo popular intl beaches | Travel Ch best beaches) Can a new cast save global trade talks?: 2 days of talks are not ex- pected to produce a breakthrough. Even the optimistic forecast for the long-running negotiations - the Doha Development Round - does not foresee any agreement until the end of '10.But negotiators hope talks Thu & Fri will send a signal to the G20 Pittsburgh sum- mit this mo. & provide some idea of what concessions the US needs to sell a trade agreement back home.That the talks are taking place in New Delhi is significant in itself, NYTimes (free registr reqd), 2 Sep 09 Managing for development results: In most developing nations, the govt sector is still operating w/o any strategic orientation towards development results. Some nations, however, such as Chile, Ugan- da & Vietnam, have undertaken serious efforts to implement re- sults-based approaches to their policies. Anecdotal evidence & case studies suggest that these efforts are producing tangible benefits. Such examples give hope for a broader move towards a new cul- ture of policymaking - towards political leadership that is able to in- itiate a turnaround in its policies, trigger a reform process, & man- age change, OECD Policy Brief, 27 Mar 09 [pdf] Afghan opium production in significant decline: Poppy cultivation is down 22%, opium production is down 10%, while prices are at a 10-yr low. The no. of poppy-free provinces has increased from 18 to 20 out of a total of 34, & more drugs are being seized as a result of more robust counter-narcotics operations, acc to an annual sur- vey released today, UNODC [Ofc on Drugs & Crime], 2 Sep 09 Yukio Hatoyama: Japan must shake off US-style globalization--In Japan, opinion is divided on how far the trend toward globalization should go. Some advocate the active embrace of globalism & leave everything up to the market. Others believe that effort should be made to expand the social safety net & protect our traditional econ activities. The Lib Democ Party has stressed the former, while we in the Democ Party of Jap. have tended toward the latter, says the likely next PM, Tribune Media Svcs (courtesy CSMonitor), 19 Aug 09 (Ed's note: This op-ed is from an essay in Jap., an Engl. transl. of which is at the author's Web site [MS Word Viewer]) Carl Schramm: Up from poverty--The principles of liberal democ- racy have made sustainable econ development a possibility for the whole world going forward. The application of creative talent by the individual in the context of commerce - once found only in lib- eral democracies - is now seen as necessary even inside socialist regimes, says Kauffman Found pres, Claremont Rev Bks, Mar-May '09 India quarterly growth accelerates to 6.1%: India's economy grew by 6.1% in the 3 mos. to June, picking up pace from the previous qtr and signaling the nation's emergence from the global downturn, Ag. France-Presse (courtesy Himalayan Times/Nepal), 31 Aug 09 Business confidence rebounds strongly in the BRIC manufacturing sector: The latest Business Outlook Survey, which surveys around 1,800 manufacturing sector firms across the BRICs (Brazil, Russia, India & China), highlights a strong & broad-based rebound in senti- ment following the drop seen in the aftermath of the financial crisis, KPMG, 10 Aug 09 Jeffrey Sachs: The case for reform--Foreign aid & development in a new era: Overseas development assistance is an integral part of US foreign policy. Yet it is currently too poorly directed, too small in scale, & too fragmented to play the role that it should. I offer 10 specific recommendations to correct these problems, says Colum- bia Earth Inst dir, Testimony-US Senate For Rel Cmte (courtesy Columbia U), 22 Jul 09 [pdf] Japan opposition takes on economy after landslide: Japan's likely next PM Yukio Hatoyama rushed to select Cabinet ministers today after his party trounced the ruling conservatives in elections and in- herited a mountain of problems, incl how to revive the world's 2nd-largest economy. He said late Sun he would focus on a quick and smooth transition and make a priority of choosing the next finance minister, AP (courtesy Jakarta Post/Indonesia), 31 Aug 09 Nook & cranny: T Hoshi & A Kashyap--A blueprint for reforming Japan: Our proposals on how to reinvigorate the economy are based on the unifying principle that econ peace of mind depends on sustained growth. In a mature and aging economy like Japan's, healthy growth requires a continuous improvement of the economy that is fueled by productivity advances. We focus on 5 specific pol- icy changes, say UC-San Diego and U Chicago experts on Japan, Wall St Journal (courtesy U Chic), 12 Sep 08 [pdf] << Home Complete archive >> Copyright (c) 2001-2009 Leonardo L. Sta. Romana All rights reserved. |
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