looking beyond borders

foreign policy and global economy

Archive for the tag “developing economies”

Will China And India Always Be Poorer? Probably Not

Since 1950, middle-income countries have nearly always grown faster than expected. Looking just at the past decade and a half, current middle-income countries that had an average gross national income of $2,381 in 2000 have seen that more than double, to $4,951 in 2015. U.S. income, in contrast, climbed just 15 percent over the same period.

Read Here – Ozy

Here’s the $17 Trillion Reason Why the BRICS Summit This Week Is a Big Deal

Leaders of the so-called BRICS countries are meeting starting Wednesday in Ufa, Russia. Here’s what you need to know about these emerging market economies to follow the summit.

Read Here – Bloomberg

Bloomberg

A Tight Squeeze

During the financial crisis, when the global economy faced its gravest threat since the 1930s, policymakers sprang into action. To stimulate the economy, central banks slashed interest rates and politicians spent lavishly. As a result, the recession, though bad, was far less severe than the Depression. Unfortunately, however, that quick response nearly exhausted governments’ economic arsenals. Seven years later they remain depleted. Central banks’ benchmark interest rates hover above zero; government debt and deficits have ballooned. Should recession strike again, as inevitably it will, rich countries in particular will be ill-equipped to fend it off.

Read Here – The Economist

Joint Communique Of Russian, Indian, Chinese Foreign Ministers’ Meeting

The Ministers agreed that Russia, India and China (RIC), as countries with important influence at international and regional levels and emerging market economies, need to further strengthen coordination on global issues and practical cooperation, in the spirit of openness, solidarity, mutual understanding and trust. They emphasized that cooperation between their countries is conducive to maintaining international and regional peace and stability and promoting global economic growth and prosperity.

Read Here – Xinhua

Towards Digital Well Being

Tripling mobile Internet access over the next 15 years could make the developing world $22 trillion richer. Such improvement in the lives and earning potential of poor people could indirectly help with the other challenges; after all, more prosperous people tend to be healthier, better fed, and more highly educated.

Read Here – Project Syndicate

South Africa Is A Mess. So Why Does It Get To Sit At The BRICS Big Boy Table?

This week, 5,000 delegates from developing nations have gathered in the coastal city of Durban for the fifth annual BRICS summit, and the first to be held in South Africa, which joined the association of emerging national economies in 2010, formally becoming the “S” in the BRIC wall. But the location of this year’s summit underscores a question often asked: Why exactly is South Africa a BRICS member?

Read Here – Foreign Policy

The Geography Of Poverty

WHERE do the world’s poor live? The obvious answer: in poor countries. But in a recent series of articles Andy Sumner of Britain’s Institute of Development Studies showed that the obvious answer is wrong*. Four-fifths of those surviving on less than $2 a day, he found, live in middle-income countries with a gross national income per head of between $1,000 and $12,500, not poor ones.

Read Here – The Economist

10 Things You Don’t Know About Africa’s Booming Economy

Africa is no longer the “lost continent” of popular imagination. The region has been growing rapidly for over a decade, the private sector is expanding, and a new class of consumers is wielding considerable spending power. And because of its young and growing population, the sky is the limit for future growth: Between 2010 and 2020, the continent is set to add 122 million people to its labor force. An expansion of this magnitude should set the stage for dynamic growth, but capturing this potential will require a change in economic development strategy. At its current pace, Africa is not generating wage-paying jobs rapidly enough to absorb its massive labor force, which will be the largest in the world by 2035.

Read Here – Foreign Policy

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