Few issues were as important to the late UN secretary-general as ending hunger and spurring economic growth in Africa by empowering the continent’s farmers. Despite progress, his goal of lifting millions of Africans out of poverty by improving agricultural output will remain as relevant as ever in the coming years.
In contrast to the Soviet Union, China’s leaders recognize that strong economic performance is essential to political legitimacy. Like the Soviet Union, however, they are paying through the nose for a few friends, gaining only limited benefits while becoming increasingly entrenched in an unsustainable arms race with the US.
The right way to respond to financial crises is not with expansionary fiscal policy, but with policies that restore the value of private assets. And the right way to prevent financial crises in the first place is to intervene in the financial markets to moderate swings in asset values and to head off recessions before they happen.
Individually, ASEAN’s members have little global clout; collectively, they represent 10% of the world’s people and nearly 5% of its GDP. At a time when large powers and global trends are reshaping the regional environment, the only way for ASEAN countries to advance their interests effectively is by working together.
Any post-Trump US president will confront a fundamental question. Can the US promote democratic values without military intervention and crusades, and at the same time take a non-hegemonic lead in establishing and maintaining the institutions needed for a world of interdependence?
As the world’s refugee crises continue to deepen and multiply, more displaced children will be at risk of missing out on a basic education. That is a travesty not just for out-of-school kids, but also for entire communities and countries that will someday need to be rebuilt.
Echoing conservatives like John Taylor, the Nobel laureate economist Joseph Stiglitz recently suggested that the concept of secular stagnation was a fatalistic doctrine invented to provide an excuse for poor economic performance during the Obama years. This is simply not right.
By intervening in Syria, annexing Crimea, and sustaining military presence in Eastern Ukraine, Russian President Vladimir Putin seems to have overextended himself. With an annual growth rate of just 1.5%, Russia is now expending 5.3% of its GDP on its military budget, while losing another 3-4% to legal, civilian, and other costs.
Brazil invests little and is running a fiscal deficit of 9% of GDP, whereas Argentina invests a lot and is gradually consolidating its public finances. So why is Argentina the one that’s in trouble with the currency markets?
Iran and the US seem to have reversed roles with the Trump administration’s decision to withdraw from the 2015 nuclear deal. Iran’s isolation before the agreement now contrasts with America’s determination to swim against the global tide.