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.
Russia is facing extreme pressure from the price collapse as well as international sanctions. The ruble has already fallen
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.