A propensity to undergo periodic episodes of instability and volatility in global financial markets will persist. Get ready for a continuous dispute between the two financial tales about EM, as well as to increasing efforts of differentiation among their assets.
HONG KONG -- China's leadership well recognizes that a pure economic target is not enough. A well-developed economy, a fair distribution of wealth, a decent living standard, a healthy environment, a civil and upright society and a just society governed by the rule of law -- this is China's vision for the next few decades.
LONDON -- It is often said that we live in a culture of instant gratification -- and this is especially true of financial markets. The debt crisis was a spectacular example. Upfront profits blinded over-confident investors to long-term risk -- with disastrous consequences. Since the crash, lack of confidence has given rise to a different type of short-termism.
Investment in infrastructure projects are more than just a bright spot for the global south. It may actually encourage investment in real assets that would boost output back in the old "rich" countries -- a welcome monsoon rain amidst a sea of paper.
Every week, The WorldPost asks an expert to shed light on a topic driving headlines around the world. Today, we look at the
Picture an ancient city full of intricately carved stone temples, where millions of pilgrims and ascetics come to bathe in the holy waters of the Ganges, as Hindus have done for hundreds of generations. Now, imagine that the holy water of the Ganges is being monitored by electronic sensors to detect pollution levels, and the lights illuminating the streets and houses of this city are fitted with motion sensors and calibrated to save energy.
Asia has been infected by a silent, healthy virus of modernization. There is a remarkably wide and deep consensus among regional leaders that they should focus on modernization and pragmatic development. Because it is silent, the Western media has not noticed and continues to predict doom.
While no human rights treaty is more widely ratified than the Convention on the Rights of the Child, and while governments are required to report on their compliance on children's rights once every five years, little is done in practice to end the violation of children's rights. It is time for an International Children's Court.
It is all too easy for businesspeople and politicians from western economies to criticize developing countries for taking measures to protect domestic economic interests, but critics in glass houses should not throw stones. Most western nations, including the two great bastions of free trade, the U.S. and U.K., adopted extremely protectionist policies during earlier stages of development.
Databases may be defaming you without you even knowing it.
Far from leading America to a future of energy independence, the fracking boom has locked the country into a high-cost game.
The idea that Coke could simply abandon its top full-calorie brands and still offer a healthy portfolio to investors was absurd. So the company turned to overseas markets to make up for lost revenue at home by selling more Coca-Cola abroad, in places like India, where the company happily reported caloric beverages enjoying double-digit growth in 2012.
It seems the world has begun to realize that a large piece of the millennial generation has suffered the consequences of an increasingly unequal global economy that has fostered despair and in many places, violent expressions of dissatisfaction.
No matter which country I report from across the Middle East and Africa, unemployment almost always tops the conversation, often trumping all other grievances that dominate headlines.
The struggle between investor capitalists and prosumer collaboratists over control of the Internet of Things, while still embryonic, is shaping up to be the critical economic battle of the first half of the twenty-first century.
Around the world, there is enormous enthusiasm for the type of technological innovation symbolized by Silicon Valley, with many attempting to replicate the ingenuity that they regard as America's true comparative advantage. But there is a puzzle: it is difficult to detect the benefits of this innovation in GDP statistics.
Changes in the structure of the economy have led to a significant shift in the natural balance between savings and investment, causing a decline in the equilibrium or normal real rate of interest that is associated with full employment. In this situation, a temporary increase in fiscal stimulus reduces, rather than increases, the long-run debt-to-GDP ratio.Anything that stimulates demand will operate in a positive direction. Austerity is counterproductive unless it generates so much confidence that it is a net increaser of demand.
The digital revolution is increasingly allowing computers and machines, made smarter through software, to replace many of the better-paying jobs, namely those that require skills and are associated with the middle class. A telling example is what is beginning to take place in higher education by the introduction of MOOCs.
If we put all our efforts into saving the euro, we must be prepared to safeguard free movement with the same conviction, as it is the very lifeblood of the single market and, hence, of our prosperity. Let me state this with total clarity: the free movement of people is as important as the free movement of services, capital and goods, and constitutes one of the basic pillars of the EU.
No one should resent the economic success of others. On the contrary. But in the same way that we stand for the ideal of equality of opportunity between individuals within our societies, we also need to deliver that equality of opportunity for every country within our great European society.