By Kalinga Seneviratne* | IDN-InDepth NewsAnalysis
SINGAPORE (IDN) – Since the 2008 economic meltdown, Europeans and the Americans have been asking the Chinese to contribute more to the Bretton Woods institutions. The Chinese, on the other hand, have been demanding reforms to the hegemonic system of management and voting rights in these institutions that favour the Americans and the Europeans. Both appeals have mainly landed on deaf ears.
By Martin Khor* | IDN-InDepth NewsAnalysis
GENEVA (IDN) – Several developing countries are now being engulfed in new economic crises as their currency and stock markets are experiencing sharp falls, and the end is not yet in sight. The “sell-off” in emerging economies has also spilled over to the American and European stock markets, thus causing global turmoil.
Countries whose currencies were affected of late include Argentina, Turkey, Russia, Brazil and Chile. A hike in interest rates by Turkey and South Africa has so far failed to stem the depreciation of their currencies. An America market analyst termed it “emerging market flu” and several global media reports tend to focus on weaknesses in individual developing countries.
By J C Suresh | IDN-InDepth NewsAnalysis
TORONTO (IDN) – A new report has underlined the interdependence of the world economy, which is expected to strengthen in 2014 with growth picking up in developing countries and high-income economies appearing to be finally turning the corner five years after the global financial crisis.
According to the World Bank’s Global Economic Prospects (GEP) report, the firming of growth in developing countries is being boosted by an acceleration in high-income countries and continued strong growth in China. However, growth prospects remain vulnerable to headwinds from rising global interest rates and potential volatility in capital flows, as the United States Federal Reserve Bank begins withdrawing its massive monetary stimulus.
By David Dapice* | IDN-InDepth NewsAnalysis
MEDFORD (IDN |Yale Global) – As the year that saw the world’s strongest economy brought to the precipice of a default comes to a close, and many wonder if 2014 promises more stability? Judging by most forecasts, including that of the International Monetary Fund, the global economy may grow about 3.5 percent, but confidence in that forecast is subject to more than usual hedging due to several policy unknowns and uncertainties.
As unemployment in the developed world remains steady and growth in the emerging economies dependent on lackluster performance of the industrialized economies, a question mark hangs over economic prospects worldwide.
By World Economy Desk | IDN-InDepth NewsAnalysis
BERLIN (IDN) – The South Centre, an intergovernmental organization of developing countries, has good news about developing economies. Contrary to the view promoted by ‘establishment institutions like the IMF’ (International Monetary Fund), recent events show that major developing countries have not “decoupled” their economies from those of advanced ones, avers Yılmaz Akyüz, chief economist of the Geneva-based organization.
By Kanaga Raja* | IDN-InDepth NewsAnalysis
GENEVA, (IDN | SUNS) – The ninth session of the Ministerial Conference of the World Trade Organization (WTO) came to a close on the morning of December 7, after adopting a Ministerial Declaration, the entire Bali package of ten texts, and five other Ministerial decisions.
The conference, which began on December 3 and was scheduled to end on December 6, spilled over into Saturday , when a very small group of countries, citing some concerns, had refused to join the consensus on the draft Bali package at an earlier informal Heads of Delegation (HOD) meeting.
By Chakravarthi Raghavan* | IDN-InDepth NewsAnalysis
GENEVA (IDN | SUNS) – As trade ambassadors in Geneva, having packed their bags are wending their way across half-the-world, and trade ministers from around the globe, gather in Bali for the biennial Ministerial Conference of the WTO from December 3 to 6, the multilateral trading system is once again trying to prove the ‘uncertainty’ principle of quantum theory in physics.
By Chakravarthi Raghavan* | IDN-InDepth NewsAnalysis | SUNS
A controversial package consisting of agreements on trade facilitation, agriculture and development issues is on the anvil in run-up to the Ninth Ministerial Conference of the World Trade Organization (WTO) to be held from December 3 to 6, 2013 in Bali, Indonesia. One of the contentious proposals pleads for a take-it-or-leave it “political decision”. The writer walks through a labyrinth of agendas, negotiations and deadlocks, laying bare all sorts of traps into which developing countries with little political clout tend to fall rather inadvertently.
By Martin Khor* | IDN-InDepth NewsAnalysis
GENEVA (IDN) – Negotiations for the Trans Pacific Partnership Agreement (TPPA) have been proceeding at full speed in recent months, giving rise to a lot of interest worldwide. The stated goal is to conclude the negotiations by the end of 2013. However there is only a slim prospect for this, as there are still many contentious issues to resolve.
By Martin Khor* | IDN-InDepth NewsAnalysis
GENEVA (IDN) – The world waited with bated breath as the deadline neared. And breathed a sigh of relief when at the last minute the United States avoided crossing its “debt ceiling” and a default on its debts.
The debt ceiling was raised, and the government shutdown also ended, after weeks of a high-profile standoff between U.S. President Barrack Obama and the Republicans in Congress. But this relief was mixed with incredulity and frustration.
Firstly, the respite is only temporary; the can is just kicked down the road. The deadlines for government shutdown and debt ceiling are shifted some weeks away to January and February 2014.
Begin typing your search term above and press enter to search. Press ESC to cancel.
