As politicians prepare for the next UN Framework Convention on Climate Change, they will soon learn that the investments they are pressed to commit to "green" their economies and mitigate climate change have been left largely unfunded by the latest global economic crisis. This, however, does not necessarily bode ill for the future of the planet. Cheaper and more efficient strategies are readily available to be implemented if governments stop bickering about details and are ready to take serious commitments to tackle global warming.
Although historically, gold was seen as a safe asset for much of the post-Bretton Woods era, it had a rather lackluster performance compared with the growing stock markets, booming real estate prices and hard-charging new derivatives. However, over the past three years, gold has re-emerged as a safe haven for investors. The memories of the economic debacle, seared in the minds of investors, are very likely to preserve a place for gold-backed assets in the foreseeable future.
As European countries implement austerity measures to quell the spread of the Greek sovereign debt crisis, doubts arise about the crisis impact on GCC economies. Despite their strong economic recovery, falling oil prices may make current GCC government spending unsustainable in the medium run. The region’s high dependence on oil revenues may once more prove a liability to its economies.
The Euro crisis has generated many uncertainties about the future. As the world wonders whether the currency will survive, some voices are heard reminding us that it is in hard times that European integration leaps forward. Although there are many uncertainties and a rocky road ahead, we may soon witness the creation of a more centralized fiscal policy in Europe.
There is a broad consensus that the Global Civil Society—whatever this really is—is adamant about two things: first its support for participative democracy and its necessary apparatus (such as democratic elections, free speech, etc); and second, its critical view of international economic institutions such as the International Monetary Fund and the World Trade Organization. The recent developments in China, however, make clear that, even if inadvertently, the latter is creating powerful obstacles to the dismantling of the former. As China seems to have found out, its accession to the WTO has brought more than it intended to pay for.
Despite recent encouraging reports on the British economy, the fact remains that the soaring fiscal deficit and public debt continue to be a significant burden to Great Britain. As the British prepare to go to the polls, the main contenders to 10 Downing Street unveil different plans to tackle the British economic predicaments. The truth is, however, that whoever takes office after the election will be faced with the difficult task of picking up the pieces of a collapsed economy.
As the European Union redefines its bilateral investment treaties (BITs) stance in what has become known as the battle of the BITs, many wonder how this internal political battle will affect treaties already in force. Although some aspects of existing treaties might end up being renegotiated, most of the changes will occur in future agreements.
A unified Gulf currency has asserted itself as a quintessential goal for Gulf countries and a pillar for the awaited Gulf economic integration. Nevertheless, despite the expected benefits of the monetary union, numerous obstacles hinder the esteemed leap.
As the West continues to consider imposing tighter, more restrictive economic sanctions against Iran, it’s worth examining the trade-related foundations underpinning the political rhetoric. In particular, Iran’s economic ties with Russia and China further complicate an already complex international debate.
The food crisis of 2007 has raised awareness of the potential consequences that a more potent sequel might have. However, instead of waiting for governments to break promises regarding investment in food supplies, developing countries stand to profit much more from opening to private investment. FDI transfers not only bring money to the receiving country but also technology and knowledge, and productivity improvements often spill over to local production. Investment in food supplies should therefore be handled like other investments by independent companies looking at economic fundamentals and not by state-owned funds and companies driven by a strategic food-security calculus.
The populist government of Iran has been pressured into modernizing its economy by phasing out costly subsidies. Although past leaders have been unwilling to withstand the burden that the change in policies will entail, the prospect of crippling sanctions by the West has aligned its leadership in support of a 5 year subsidy reform plan. The reforms will save the country $100 billion USD a year in subsidies, while correcting market distortions, strengthening the middle class and diversifying the country's economy. This progress however will not come with out challenges, as a rise in costs will likely be followed by inflation.
Although Turkey’s attempts at accession to the European Union have been replete with hurdles, Turkey has in effect benefited greatly from complying with these requirements. In Turkey’s attempts to gain accession to the EU, it has vastly improved its political and economic institutions. Further requirements for accession, particularly the aquis communautaire, stand to offer Turkey’s institutions the same if not more benefits than other reforms.
A global survey shows a steep decline in US approval ratings in Muslim countries
As many regional variables begin to play into the future defi nition of Saudi-US ties, the formula that was once used to characterize their rapport no longer applies writes Caryle Murphy
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A brilliantly well-measured piece of thought-provoking reflection which should merit the attention a ...
Dr. Kwaku Asante-Darko at Aug 18, 2010 5:36 PM
I believe that egypt has to
1. Free its dependency on US for aid.
2. Have an assertive pol
...
Mike Edwards at Aug 10, 2010 6:16 PM
thanks for great informations It's a wonderful
finance personal software at Aug 10, 2010 6:10 PM
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