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By Kalinga Seneviratne
SYDNEY (IDN) — Australia hasn't had a recession for 29 years. Economists are now warning that the coronavirus (COVID-19) is almost certainly driving the country towards it and thus exposing Australia's heavy dependence on China for its economic prosperity.
Until the mid-1970s Australians were paranoid about a 'yellow peril' (the Chinese takeover) and practiced a 'White Australia' policy that kept Asians away from migrating to the vast continent.
Viewpoint by Calvin Cheng*
KUALA LUMPUR (IDN) — After two years of alternating between tense escalation and fleeting periods of calm, the United States and China reached a preliminary phase one trade deal in December 2019. Government spokespersons in both countries promptly cheered the signing of the agreement — but observers around the world remain a little more circumspect.The primary achievement of the phase one deal seemed to be tempering the uncertainty of further tariff escalation, with both sides agreeing to cancel their upcoming tariff hikes.
Viewpoint by Jonathan Power
LUND, Sweden (IDN) – Capitalism rules the world. Correct. But Bernie Sanders has his doubts about it. Good. It is a malicious system in many ways but as Winston Churchill might have said, it is better than all the alternatives. Nevertheless, it’s time overdue to tame the beast.
After the Second World War the Western world did make a big effort to mitigate some of its worst effects. In the U.S. there was the GI bill to help returning soldiers get started in life. Later, there was Medicaid for poorer people. In Europe there was a widespread attempt to replicate the free health services pioneered by the Scandinavian countries and New Zealand.
By Jamshed Baruah
GENEVA (IDN | UNCTAD) — A new study expects non-tariff measures (NTMs) to cause major fractures in post-exit trade relations between the United Kingdom (UK) and the European Union (EU), knocking up to US$32 billion, or 14 per cent, off of UK exports to the EU.
NTMs are policy measures other than ordinary customs tariffs that can potentially have an economic effect on international trade in goods, changing quantities traded, or prices, or both. They are the key factors mediating market access in the world economy.
Viewpoint by Jonathan Power
LUND, Sweden (IDN) – Do we know how to end poverty in the Third World? Do we know why some economies expand and others don’t? Not really. There is no clear formula for growth. The two Nobel economics prize winners of last year, the husband and wife team of Abhijit Banerjee and Esther Duflo, write in the current issue of Foreign Affairs, “The uncomfortable truth is that the economics profession still doesn’t have a good sense of why some economies expand and others don’t”.
By Sean Buchanan
LONDON (IDN) – In the last year, anti-corruption movements across the globe have gained momentum as millions of people joined together to speak out against corruption in their governments.
Protests from Latin America, North Africa and Eastern Europe to the Middle East and Central Asia made headlines as citizens marched in Santiago, Prague, Beirut and a host of other cities to voice their frustrations in the streets.
Viewpoint by Jonathan Power
LUND, Sweden (IDN) – In Sir Arthur Conan Doyle’s “The Hound of the Baskervilles”, Sherlock Holmes lectures Watson on the unlikely subject of free trade.
Holmes: “Capital article this on free trade. Permit me to read you an extract from The Times: ‘You may be cajoled into imagining that your own special trade or your own industry will be encouraged by a protective tariff, but it stands to reason that such legislation must in the long run keep wealth from the country, diminish the value of our imports, and lower the general condition of life in this island.’”
By Lisa Vives, Global Information Network
NEW YORK (IDN) – A decades-old reminder of the years of colonial French rule finally ended this month with the renaming of the colonial era currency – the CFA franc – to a name of independence – the Eco.
The announcement was made in Cote d’Ivoire (Ivory Coast) by Ivorian President Alassane Ouattara. It was seen as an effort by France to reshape its relations with its former African colonies.
Viewpoint by Manish Uprety F.R.A.S. and Jainendra Karn *
NEW DELHI (IDN) – It has been posited that in the 19th century, the world was Europeanized. In the 20th century, it was Americanized. Now, it is being Asianized. But is the story of the Asian success as blossoming as it looks.
There are immense challenges across the contemporary world. Merkelisation has caused a social crisis in the European Union which has been exacerbated by BREXIT, and Francis Fukuyama, the noted author of The End of History expresses his fears for a U.S.-China war.
By Kester Kenn Klomegah
MOSCOW (IDN) – After the first Russia-Africa Summit in the Black Sea city Sochi on October 23-24, Russia and Africa have resolved to move from mere intentions to concrete actions in raising the current bilateral trade and investment to appreciably higher levels in the coming years.
As a first step, Russia plans to offer trade subsidies and investment guarantees as an emergency support for Russian companies to penetrate into African market, part of the strategy for strengthening economic ties between Russia and Africa, according to a report by the Ministry of Foreign Affairs.
This interactive WHO dashboard/map provides the latest global numbers and numbers by country of COVID-19 cases on a daily Basis.
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