You are at: Home > News and Analysis > Page 5: > Page 6 of 83 Posted: 27 Apr-1 May 09 Martin Feldstein: Deflation raises questions about global recovery--Deflation is potentially a very serious problem, because falling prices - & the expectation that prices will continue to fall - would make the current econ downturn worse in a number of ways, says fmr Coun Econ Adv chair, Proj Syndicate (courtesy Taipei Times), 29 Apr 09 A Alesina & P Giuliano: The crisis, reduced inequality, and soak-the-rich populism -- More and more people believe that hard work is insufficient to climb the income ladder and are expressing anger vs 'unfairly' accumulated wealth. Politicians should prefer wise policies but may be tempted by populist outbursts, note Harvard and UCLA economists, VoxEU, 23 Apr 09 ILO calls for urgent global jobs pact to forestall 'prolonged & severe' employment crisis: A new study by the ILO Institute said demo- graphic projections suggest that nearly 90m net new jobs would be needed over '09-'10 to absorb new entrants in the labor market and avoid a prolonged jobs gap. In earlier crises, the labor market recov- ered only 4-5 years after the econ recovery. The study examined current rescue efforts in 32 nations, incl all G20 members, Intl Labor Org, 24 Mar 09 Recovery room: WHO raises swine flu alert from phase 4 to 5--The Dir-Gen of WHO declared phase 5 on the org's 6-phased pandemic ranking scale. This follows the confirmation of evidence of sustained human-to-human transmission in at least 2 countries in the same re- gion, Mexico and US, World Health Org, 29 Apr 09 (WHO update no.5 | US CDC update) Peter Singer: America's shame--If we take seriously the idea that the value of a human life does not diminish when we cross national bor- ders, then we ought to be giving a much higher priority to reducing world poverty. I have in mind a broad re-envisioning of what we teach. We should not limit so important a topic to specialized courses on intl development, writes 'The Life You Can Save' author, Chron Higher Ed, 13 Mar 09 How the US tax burden has changed since '60: Paris Sch Econ's Pik- etty & UC-Berkeley's Saez find that the share of income going to the top 0.1% of the income distribution "was around 2.5% of total in- come in the 70's and reached a peak above 9% in 2000.In fact, most of the overall increase in the inequality of income has been driven by the very top of the income distribution." They say that "the federal tax system is clearly progressive," ie, as a person's income increases, the % of his income that he pays in taxes also increases, MSNBC, 2 Apr 09 (Chron Higher Ed: Berkeley's Saez wins top young econ- omist award | WSJ '06: The top 1%...of what?--An exchange [pdf] Recovery room: Swine flu -- WHO update no.4: The situation con- tinues to evolve rapidly. As of 19:15 UTC=GMT, 28 Apr, 7 nations have officially reported infection cases: US (64 lab-confirmed human cases), Mexico (26, incl 7 deaths), Canada (6), N Zealand (3), UK (2), Israel (2), and Spain (2). WHO is holding a scientific review on 29 Apr, in which experts from the affected nations will provide an update on the situation and discuss what is known about the disease (US CDC update) Sign-on letter to the IMF chief calling for policy reforms: The IMF must phase out those activities outside its areas of core competence, like the Poverty Reduction & Growth Facility. It must also eliminate harmful conditions linked with its loan programs. We also urge the IMF to open its consultations with Min. of Fin to include Min. of Health, Educ, and Dev, parliament cmtes with oversight on related matters, and civil society, Civil Society Groups (courtesy Treatment Action Grp), 24 Apr 09 (IMF chief's reply) Nook & cranny: Pascal Zachary--Global media & the development story: We asked a prominent journalist to share his perceptions - based on more than a decade of reporting development stories for Wall St J & other influential outlets - on the strengths & weaknesses of coverage of these issues, & his recommendations for improving it. We also asked 6 other journalists, spanning the globe from Argentina to Uganda, for their views, Intl Food Policy Res Inst, May '07 [pdf] Recovery room: Swine flu -- WHO update no.3: WHO advises no restriction of regular travel or closure of borders.There is also no risk of infection from well-cooked pork & pork products.The dir-gen has raised the level of flu pandemic alert from the current phase 3 to phase 4. The change to a higher phase of alert indicates that the like- lihood of a pandemic has increased,but not that a pandemic is inevit- able. As info becomes available, WHO may decide to either revert to phase 3 or raise the level of alert to another phase, 27 Apr 09 (Dir-Gen's statement) If Barack Obama could achieve only one financial reform, what should it be?: If the pres asked you to name the most urgent fin re- form, global or domestic, needed to rebuild the credibility of our fin system, what would you tell him? A symposium of views, Interna- tional Economy, Jan-Mar '09 [pdf] The economic crisis and the developing world--What's next?: Some believe that the current global crisis has ended the dominance of the 'Washington Consensus' once & for all. A Q&A with London Sch Econ's Robert Wade & Columbia's Jose Ocampo provides a provoc- ative discussion about enlightened policy for the world's poorer na- tions, Challenge Mag, Jan-Feb '09 [pdf] (Leontief Prize) Recovery room: Swine flu--FAQ [pdf]: What is swine influenza? Is it safe to eat pork meat & products? How can you protect yourself from getting swine flu from infected people?, World Health Org (WHO info), 27 Apr 09 (US Ctrs Disease Ctrl/Preven.-- Swine flu and you | CDC info) The economic crisis & the Millennium Development Goals (MDGs): The global crisis is imperiling attainment of the 2015 MDGs & creat- ing an emergency for development, acc to the latest Global Monitor- ing Report, a yearly report on progress toward the MDGs. It warns that, although the first goal of halving extreme poverty from its '90 level is still reachable based on current projections, risks abound, World Bank/IMF, 24 Apr 09 Posted: 20-24 Apr 09 Robert Solow: How to understand the disaster--Review of Richard Posner's A Failure of Capitalism: The crisis of '08 and the descent into depression: The need is not only for a clear picture of what happened but for an assessment of the motives and actions of the main players, the causes and consequences of what they did, and the ideas and institutions that encouraged, inhibited, and shaped the out- comes.This book is intended to fill that need. And more striking than what it says is who says it - a US Court of Appeals judge, & so pre- eminently a lawyer, writes Nobel laureate '87, NY Rev Books, 14 May 09 (Harvard U Pr) Dani Rodrik: An IMF we can love?--The IMF has long been a whip-ping boy for both left & right - the former because of the Fund's em- phasis on fiscal rectitude & econ orthodoxy, & the latter because of its role in bailing out indebted nations. But the crisis has invigorated the Fund. Now that it finds itself at the center of the econ universe again, how will it choose to deploy its newfound power?, asks Har- vard economist, Proj Synd (courtesy J Turk Wkly), 24 Apr 09 Ngaire Woods: Shaking up the World Bank--Essential elements for governance reform: The Bank does 2 things, both vital during this global crisis. 1st, it has become a global public financing mechanism which permtts govts to contribute to emergencies, relief to poorest nations, public health crises, etc. 2nd, it is (and has always been) a global lending cooperative, which helps to channel private finance to emerging economies even when the markets dry up (by pooling the sovereign guarantees of all its members so as to raise cheap capital from the markets which it can lend back to members). Hindering the Bank in both its tasks is its governance, says Global Econ Govern- ance prog dir, Oxford U(courtesy Essex U), Dec '08 [pdf] (Reform- ing the IMF & World Bank) Robert Zoellick: Investments in safety nets, infrastructure needed to support poor in crisis--These WB-IMF Spring meetings are the first major global gathering since the G20. They provide an important op- portunity for all 185 member nations to assess the G20 outcomes and make sure that their voices are heard, says WB pres, World Bank, 23 Apr 09 (Leaders to assess response to world recession) International man of misery: The global economy is in free fall, but do-gooder Jeffrey Sachs, formerly known as Doctor Shock, is still trying to end poverty and save the world. Can he? Can anybody?, by R Rosenbaum, Conde Nast Portfolio, May '09 Research group releases new global financial centers index: Financial centers worldwide are suffering as a result of the economic crisis,acc to new research by Z/Yen Group, as all 62 centers saw their ratings fall since 6 mos. ago. London and New York remain in 1st and 2nd place, followed by Singapore and Hong Kong. The rankings come from surveys of fin professionals around the world & competitiveess indicators, City of London Corp, 5 Mar 09 (Report [1.1mb, pdf] | In brief--How index is compiled) Global economy contracts, with slow recovery next year: In the most severe recession since WW2, the world economy is projected to shrink by 1.3% in '09, with a slow recovery expected to take hold in '10, acc to the latest half-yearly World Economic Outlook.Growth is projected to reemerge but at a sluggish pace. Emerging economies too are suffering badly and shrank 4% in 08's 4th qtr as a group.The damage is being inflicted through both financial & trade channels,esp to east Asian nations that rely heavily on manufac. exports & emerg- ing Eur. nations & Comm.of Indep. States, which have depended on capital inflows, IMF Survey Mag, 22 Apr 09 (G20 Econ indicators) Further action needed to reinforce signs of market recovery - IMF: An unprecedented policy response to the global crisis is gradually be- gining to restore market confidence, IMF said. But in its latest half-yearly assessment of global financial markets, the Fund warned that the challenges to restoring fin stability remain significant, with emerg- ing market risks having risen the most the past 6 mos. Within emerg- ing markets, eastern Europe has been the hardest hit, IMF Survey Mag, 21 Apr 09 London Sch Econ launches 'Beyond BRIC', a study of offshoring in non-BRIC nations: A new study by the LSE, funded by Egypt's IT Indus Dev Agcy, compares Egypt's competitiveness with 13 nations: Romania, Bulgaria, Poland, Slovakia, Czech Rep, Belarus, Morocco, Tunisia, Costa Rica, Mexico, Venezuela, Vietnam and Philippines, LSE/ITIDA (courtesy PRNewswire), 1 Apr 09 (Report [1.7mb,pdf]) {If you encounter a text-size problem, try saving the file and opening it--Ed.} Robert Shiller: Depression lurks unless there's more stimulus--It is now time to keep our eye on the ball, says Yale economist, and set clear targets to fix a system that broke when our animal spirits got out of bounds, Bloomberg, 15 Apr 09 Earth Day, 22 April: Bank executives see the forest and the trees-- In a forest, bankers trade in their suits and ties to study the environ- ment with scientists, Smithsonian Mag, Apr '09 (Picture of the week) Don't write off low-cost country sourcing--The downturn offers hid- den opportunities: As consumers and biz in the West trade down, nations with production costs 20-30% lower than those in the West, and labor rates still a fraction of costs elsewhere, have become very attractive for some cos., says a new report, Boston Consulting Grp, 10 Mar 09 The (UN racism) Durban Review conference: US is committed to ending racism and racial discrimination. However, the text still con- tains language that reaffirms in toto the Durban Declaration/Prog of Action (DDPA) from '01, which US has long said it is unable to sup- port. Its inclusion in the document has the same effect as inserting that original text into the current document & re-adopting it.The DD- PA singles out one particular conflict and prejudges key issues that can only be resolved in negotiations bet. Israelis & Palestinians, US State Dept, 18 Apr 09; and UN chief regrets boycott of racism meeting: UN sec-gen defended the disputed text as 'carefully balanced' and said the meeting was needed to address simmering tensions that could otherwise trigger social unrest and violence, Reuters, 20 Apr 09 (Conf background | UN human rights chief shocked by US) Michael Spence: The fin/econ crisis & the developing world--Where we are and where we are going: The fin system in US and much of Europe had a heart attack in Sep '08. As in the case of a real heart attack, the highest priority has gone to the emergency response & to stabilizing the patient. Once that is done and the crisis is abating and even to some extent as it is going on, it will be important for some to focus on 2 issues: What created the rising risk of an attack? What combination of actions post-crisis will reduce the risk of a repeat in the future?,notes Nobel laureate '01, Growth Comm blog, 17 Apr 09 Jeffrey Sachs: Homegrown aid--Rather than have Wash. decide the kind of aid each nation will receive, the recipient nations should be invited to prepare plans & budgets that would be reviewed by inde- pendent experts. These plans would describe how the strategy would be put into place & how much money would be required. 2 intl pro- grams during the last decade, championed jointly by US, other govts & Gates Found, have demonstrated the benefits of such a scientific, results-based aid approach, says Columbia's Earth Inst dir, NYT, 8 Apr 09 Posted: 13-17 Apr 09 Guy Sorman: Cheers for Chile's Chicago boys -- Milton Friedman- esque reforms helped create South America's most prosperous na- tion, says 'Empire of Lies' author, City Journal, Jan '08 (Summit of the Americas); and Chicago boys and Pinochet: As finance minister in Chile's first civil- ian govt after Gen. Pinochet's 17-year reign, Alejandro Foxley - one of the architects of the 'Chilean miracle' - coupled an emphasis on human rights with econ growth in an attempt to narrow the gap bet. Chile's rich and poor, Commanding Heights/PBS, Jan '02 (Ricardo Lagos | Background) From our archive: Roger Middleton--Piracy in Somalia: Threatening global trade, feeding local wars (briefing paper): Speed & stealth are essential for these pirates. They reportedly use portable air-defense systems, rocket-propelled grenades, global positioning systems and satellite phones in their activities.It is likely that they are plugged into an intl network that feeds info from ports in the Gulf of Aden, Eur- ope & Asia back to Somalia, and may be agents of intl terrorist net- works, says Chatham Hse consultant, Inst Intl Affairs/UK, 2 Oct 08 Pakistan granted $5B in aid from donors: Pakistan received pledges of more than $5B from donor nations and intl groups Fri to build its economic & political stability. Nearly 50 donors at a one-day Tokyo conference vowed to provide the struggling nation with assistance in its fight vs terrorism, Deutsche Presse-Ag.(courtesy Earth Times), 17 Apr 09 China not manipulating undervalued currency, says US: Pres Oba- ma's admin said that China had not manipulated its currency to snare a competitive advantage but it remained undervalued. Its first report to Congress on global currency policies appeared to be an about-face for the Treas Secy, whose comment that China manipulated its cur- rency during his confirmation hearing set off alarms in Beijing, Ag. France-Presse (courtesy ChNewsAsia/Spore), 16 Apr 09 (Treasury Secy's report) Economic system needs 'major changes', says global poll: Major reform of the world economy is needed in order to solve the current crisis, acc to a new global poll. The findings also suggest that people in developing nations are being hit harder by the econ downturn than those in rich nations. The results are drawn from a survey of 29,913 adult citizens across 24 nations, conducted for BBC by GlobeScan, World Public Opinion, 31 Mar 09 Nook & cranny: Figuring out the fracas about the flat tax--Discuss- ing the flat tax always generates heated debate - even about its defin- ition. Proponents claim its simplicity and efficiency can be a key to econ success, while critics argue that it has little effect on econ activ- ity and can be unfair. A recent study examines its impact in nations where it has been in effect for more than a decade, IMF Survey Mag, 12 Feb 07; and Daniel Mitchell: Flat world, flat taxes--From Montenegro to Mauri- tius, competition is making tax codes simpler and fairer, says Cato Inst senior fellow, American Mag, 27 Apr 07 Hernando de Soto: Global meltdown rule no.1--Do the math: We can't start fixing things until we can get a handle on the toxic assets behind the financial crisis, says 'Mystery of Capital' author, Los Angeles Times, 12 Apr 09 Coffee/tea room: Passengers pick winners of World Airline Awards --More than 16 million air travelers drawn from over 95 different nationalities took part in the 8-month long survey, Skytrax Research, 2 Apr 09 Haiti at a turning point: No nation in the Americas faces development difficulties on the scale of Haiti's challenges. In '08, the nation was assailed by spikes in food & fuel prices and 4 devastating storms. In '09, due to the global crisis, it is likely to see a decline in investments and remittances from expats, a lifeline for countless Haitian families. Despite these, there is cause for optimism. On 14 Apr, the Haitian govt will present an economic recovery plan to a donors meeting in Wash, Inter-Amer Dev Bank, 9 Apr 09 Dambisa Moyo: Stop aiding Africa! -- In an exclusive excerpt from her book Dead Aid, the controversial fmr investment bank econo- mist says celebrity and governmental assistance for African nations has made a bad situation much worse, Daily Beast, 26 Mar 09; and Paul Collier: Time to turn off the aid tap? -- Here is an African woman, articulate, smart, glamorous, delivering a message of brazen political incorrectness: cut aid to Africa. Aid, she argues, has not merely failed to work; it has compounded Africa's problems. Moyo cannot be dismissed as a crank. Harvard/Oxford-educated, she heads the Africa strategy of a major bank. Nor can she be dismissed as a renegade who has rejected her roots. She is deeply wounded by the lack of development in her home country Zambia. So what is she saying?, asks Oxford economist, Independent, 30 Jan 09 Protesting crowds cause postponement of Asean, East Asian sum- mits: Due to the protests in Thailand, 3 summits were postponed - Asean summit of 10 nations, Asean+3 summit (incl China, Japan & S Korea), & East Asia summit (incl India,New Zealand & Australia). The leaders were expected to discuss plans to cope with the crisis following the G20 summit. Also cancelled was an Asean Global Dia- logue, whose panel included the UN sec-gen and heads of World Bank, IMF, WTO, Unctad & ADB, Asean Sec., 11 Apr 09 [pdf] Market gains are beginning of the end, says Mobius: The next 'bull market' rally is fully in place and there are bargains in every emerg- ing market following a record slump in stocks, Templeton Asset Mgmt's Mark Mobius said.He correctly predicted in Dec that emerg- ing markets will rebound before developed nations, News agencies (courtesy Biz Intel Mideast/UAE), 23 Mar 09 (Seeking Alpha--Did emerging markets enter a new bull market?) << Previous Home Next >> Copyright (c) 2001-2009 Leonardo L. Sta. Romana All rights reserved. |
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