Who do they think they are, these upstart economies, Brazil, Russia, India, China and South Africa? That might sum up the feeling in the U.S., Europe and Japan as the BRICS nations consider a new development bank that might challenge the World Bank and International Monetary Fund. The move brings to mind Alice Amsden, the Massachusetts Institute of Technology economist who died last […]
Put simply, then, China won the battle by choosing not to fight it. But this isn’t quite the whole story. In addition to avoiding the grave costs of the war, China capitalized by offering developing countries an attractive alternative to the United States: ideologically-blind economic engagement. And, as a result, Beijing was able to expand […]
POOR countries have long been a popular destination for the rich world’s toxic trash. In 1987 an Italian importer sparked international outrage by dumping 8,000 leaky barrels in the Nigerian village of Koko. On January 9th Nigeria fined importers $1m for trying to bring in two 12-metre containers full of defunct televisions, computers, microwaves and […]
This week the world’s wealthiest and the best-connected have gathered in Switzerland for the World Economic Forum’s annual meeting. An exceedingly diverse group of business and policy titans are schmoozing, paneling, and work-shopping their way through the world’s top intractables: climate change; a tattered euro zone; and who could forget the eternally vexing problem of “Catalysing Multistakeholder Value”? […]
The World Bank cut its global growth forecast for this year as austerity measures, high unemployment and low business confidence weigh on economies in developed nations. The Washington-based bank projects the world economy will expand 2.4 percent, down from a June forecast of 3 percent, after growing 2.3 percent in 2012. It halved its forecast for Japan, cut […]
WHEN Superstorm Sandy roared ashore in late October and the lights of lower Manhattan went out, New Yorkers were given a stark vision of a possible future. Climate-change science is still a realm of great uncertainty but there is consensus that the planet is warming dangerously and that people are to blame. A recent report […]
George Soros cites Isaiah Berlin as an important intellectual influence, so it makes sense to see Soros through one of the Riga-born philosopher’s best-known lenses — the division of the world into foxes and hedgehogs. In his public life, Soros is a broad-minded fox: As a hedge fund manager, his success rested on his ability to make many […]
Critics often assert — now more than ever — that money spent on international development is money that is wasted. They argue that it’s squandered on bad projects, that it bypasses the neediest or is spent in countries with governments that don’t serve their people. But not all foreign aid is guaranteed — and nor […]
At one time in the recent past, leaders in developing countries and in international organizations decried the “brain drain” that led the best and brightest in what we used to call the “third world” to emigrate to the West to take advantage of superior educational and employment opportunities. The United States was the destination of […]
The United Nations, aid agencies and the British Government have lined up to attack the world’s largest commodities trading company, Glencore, after it described the current global food crisis and soaring world prices as a “good” business opportunity. Read Here – The Independent
looking beyond borders 