Archive for the ‘Global Economy’ Category

23
Mar

I HAVE worked for the United Nations for most of the last three decades. I was a human rights officer in Haiti in the 1990s and served in the former Yugoslavia during the Srebrenica genocide. I helped lead the response to the Indian Ocean tsunami and the Haitian earthquake, planned the mission to eliminate Syrian chemical weapons, and most recently led the Ebola mission in West Africa. I care deeply for the principles the United Nations is designed to uphold.

And that’s why I have decided to leave.

The world faces a range of terrifying crises, from the threat of climate change to terrorist breeding grounds in places like Syria, Iraq and Somalia. The United Nations is uniquely placed to meet these challenges, and it is doing invaluable work, like protecting civilians and delivering humanitarian aid in South Sudan and elsewhere. But in terms of its overall mission, thanks to colossal mismanagement, the United Nations is failing.

Six years ago, I became an assistant secretary general, posted to the headquarters in New York. I was no stranger to red tape, but I was unprepared for the blur of Orwellian admonitions and Carrollian logic that govern the place. If you locked a team of evil geniuses in a laboratory, they could not design a bureaucracy so maddeningly complex, requiring so much effort but in the end incapable of delivering the intended result. The system is a black hole into which disappear countless tax dollars and human aspirations, never to be seen again. Read more…

8
Mar

AT no point in recorded history has our world been so demographically lopsided, with old people concentrated in rich countries and the young in not-so-rich countries.

Much has been made of the challenges of aging societies. But it’s the youth bulge that stands to put greater pressure on the global economy, sow political unrest, spur mass migration and have profound consequences for everything from marriage to Internet access to the growth of cities.

The parable of our time might well be: Mind your young, or they will trouble you in your old age.

A fourth of humanity is now young (ages 10 to 24). The vast majority live in the developing world, according to the United Nations Population Fund.

Nowhere can the pressures of the youth bulge be felt as profoundly as in India. Every month, some one million young Indians turn 18 — coming of age, looking for work, registering to vote and making India home to the largest number of young, working-age people anywhere in the world.

Already, the number of Indians between the ages of 15 and 34 — 422 million — is roughly the same as the combined populations of the United States, Canada and Britain.

By and large, today’s global youth are more likely to be in school than their parents were; they are more connected to the world than any generation before them; and they are in turn more ambitious, which also makes them more prone to getting fed up with what their elders have to offer. Many are in no position to land a decent job at home. And millions are moving, from country to city, and to cities in faraway countries, where they are increasingly unwelcome. Read more…

By SOMINI SENGUPTAMARCH 5, 2016; Published in the nyt.com

8
Feb

The Global Economy’s New Abnormal

Written on February 8, 2016 by Waya Quiviger in Global Economy

Since the beginning of the year, the world economy has faced a new bout of severe financial market volatility, marked by sharply falling prices for equities and other risky assets. A variety of factors are at work: concerns about a hard landing for the Chinese economy; worries that growth in the United States is faltering at a time when the Fed has begun raising interest rates; fears of escalating Saudi-Iranian conflict; and signs – most notably plummeting oil and commodity prices – of severe weakness in global demand.

And there’s more. The fall in oil prices – together with market illiquidity, the rise in the leverage of US energy firms and that of energy firms and fragile sovereigns in oil-exporting economies – is stoking fears of serious credit events (defaults) and systemic crisis in credit markets. And then there are the seemingly never-ending worries about Europe, with a British exit (Brexit) from the European Union becoming more likely, while populist parties of the right and the left gain ground across the continent.

These risks are being magnified by some grim medium-term trends implying pervasive mediocre growth. Indeed, the world economy in 2016 will continue to be characterized by a New Abnormal in terms of output, economic policies, inflation, and the behavior of key asset prices and financial markets.

So what, exactly, is it that makes today’s global economy abnormal?


Read more at https://www.project-syndicate.org/commentary/market-volatility-in-global-economy-by-nouriel-roubini-2016-02#l46Twtl43buwogWP.99

Published on 4 Feb. by Nouriel Roubini in https://www.project-syndicate.org

22
Jan

What Is the Post-Post-Davos Model of the World?

Written on January 22, 2016 by Waya Quiviger in Global Economy

As the masters of the universe gather for the annual World Economic Forum in the Swiss ski resort of Davos, the world economy that they will be gazing down upon isn’t looking very healthy.

As the masters of the universe (and many journalists, too) gather for their annual confab in the Swiss ski resort of Davos, the world economy that they will be gazing down upon isn’t looking very healthy. The financial markets are in turmoil. The oil price is in a free fall. China just announced its lowest G.D.P. growth rate in a quarter of a century. The European Union has been in crisis for years. The Middle East . . . enough said. Even the American economy, one of the world’s few bright spots, is showing some signs of slowing down.

What to think? The optimistic view, which is always well represented in Davos, is that the response to the market gyrations has been overdone. In a blog post earlier this week, Olivier Blanchard, a former chief economist of the International Monetary Fund, pointed out that exports to China make up less than two per cent of U.S. G.D.P., so even a serious slowdown in China shouldn’t be a big drag on the American economy. And lower oil prices should be good news for advanced economies, because that leaves their consumers with more money to spend on other stuff. Read more…

Published in the New Yorker on Jan. 19

John Cassidy has been a staff writer at The New Yorker since 1995. He also writes a column about politics, economics, and more, for newyorker.com.

7
Jan

Those of us who’ve worked on foreign affairs for decades disagree often and about much, but the advent of 2016 finds us all in agreement, to the point of cliché, on one thing: We’ve never seen a world so chockablock full of complex, dangerous and interlocking issues. For anything comparable in modern times, you’d have to go back to the late 1940s and the chaos following World War II.

Prediction now is as perilous as it was back then. Dozens of issues are rushing toward us, headlong, but we’re plunging in and highlighting the five biggest global issues of 2016: Syria, Iran nukes, China, Russia and the EU, and oil prices. In each of these areas, changes in one direction or another would be truly consequential — that is, they would ripple out broadly, like rocks thrown into the geopolitical pond.

To be sure, other issues, like cybersecurity, North Korea and climate change, will have short- and long-term effects, and, of course, no one is thinking about what inevitably will surprise us. Still, it’s a safe bet that the following five will absorb much of the world’s foreign policy attention in 2016. Here’s why:

1. Dealing With Syria

The country, now heading toward year five of a gruesome civil war, must come first. How the conflict evolves in 2016 will affect everything from the fate of the Islamic State to the European migration crisis, the stability of regional neighbors, volatility on the oil market, the status of Russia, and the terrorist threat level inside the United States.

The U.S. is pursuing a two-pronged strategy: gradually increasing military pressure on the IS by bombing, while seeking a diplomatic settlement satisfactory to Syria’s competing factions and the major powers trying to protect their conflicting interests — the U.S., Russia, Iran, Saudi Arabia and Turkey. The big benefit of this strategy is that it minimizes the United States’ chances of getting sucked into a quagmire.

But the big risk is that it is eminently gradualist — and assumes that the Islamic State is gradualist too. That is wrong. The IS continues to grow rapidly and expand geographically. Despite some recent setbacks – Iraqi forces appear close to recovering Ramadi city – the IS will likely achieve the capability to carry out or inspire more attacks like those on Paris and San Bernardino long before our gradualist strategy achieves its goal. Read more…

 

Published in  on Jan. 4, 2016 in http://www.ozy.com/

By John McLaughlin

The author, deputy director and acting director of the CIA from 2000 to 2004.

We use both our own and third-party cookies to enhance our services and to offer you the content that most suits your preferences by analysing your browsing habits. Your continued use of the site means that you accept these cookies. You may change your settings and obtain more information here. Accept