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. Global finance leaders from the IMF and World Bank have dropped a pledge to fight trade protectionism from the closing note of their spring meetings. ... [Read full article on BBC ]
Sunday 23rd of April 2017 09:58:15 AM
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....A similar pivot is needed if the IMF is to deliver better on the supranational issues that are now migrating up its policy agenda. Specifically, the fund would need to complement its traditional core constituency of governments and other multilateral institutions (particularly the World Bank) with systemically influential sub-national and private counterparts. ... [Read full article on Guardian ]
Monday 24th of April 2017 03:00:22 PM
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Latest Finance News related to World Bank

Could the IMF's 'world currency' help encourage global unity? | Mohamed El-Erian image
....A similar pivot is needed if the IMF is to deliver better on the supranational issues that are now migrating up its policy agenda. Specifically, the fund would need to complement its traditional core constituency of governments and other multilateral institutions (particularly the World Bank) with systemically influential sub-national and private counterparts. ...
IMF meeting drops anti-protectionism pledge image
Source : BBC [Read Article] Sunday 23rd of April 2017 09:58:15 AM
. Global finance leaders from the IMF and World Bank have dropped a pledge to fight trade protectionism from the closing note of their spring meetings. ...
Protectionism is rising the world over. Our best defense is fighting inequality | Wally Adeyemo image
....The best defense of multilateralism and the rules-based order is a good offense. Addressing inequality and updating the rules of the global economy to reflect the needs of the 21st century must guide the agenda for this week’s International Monetary Fund (IMF) and World Bank spring meetings. ...
World Bank chief echoes Bill Gates's warning to Theresa May on aid image
Source : Guardian [Read Article] Thursday 20th of April 2017 05:22:34 PM
. The president of the World Bank has told Theresa May that cutting the UK’s aid budget could lead to an increase in conflict, terrorism and migration and would damage Britain’s international reputation. ...
Higher interest rates. Great idea. Here’s why it won’t happen image
Source : Guardian [Read Article] Saturday 15th of April 2017 04:00:06 PM
....They argue that higher interest rates will restore a lost balance in the economy – taking it back to the way it was before the financial crisis, when things were so much better. And why wouldn’t they? Plenty of mainstream economists express the same concerns, including policymakers at the Bank of England, the International Monetary Fund, the OECD and the World Bank. ...
Is this the beginning of the end for neoliberalism? | Letters image
Source : Guardian [Read Article] Thursday 13th of April 2017 05:59:24 PM
.... So it’s not just immigration that is fuelling ever-broadening support for Marine Le Pen, it is also the fact that she too is an overt protectionist. These trends have obviously not been lost on the unholy trinity of free trade pushers the IMF, WTO, and the World Bank (Report, 11 April). ...
The money machine: how a high-profile corruption investigation fell apart image
Source : Guardian [Read Article] Wednesday 12th of April 2017 05:00:26 AM
....For decades, hundreds of billions of dollars have vanished from the world’s poorest countries, finding their way – via the tax and secrecy havens of Europe, south-east Asia and the Caribbean – into the banking system, real estate and luxury goods markets of the west. According to the World Bank, between $20bn and $40bn is stolen each year by public officials from developing countries. ...
Developing nations' demands for better life must be met, says World Bank head image
. Failure to meet the internet-inspired aspirations of people in poor countries runs the risk of creating the conditions for war, terrorism and increased migration, the president of the World Bank has warned. ...
Trump tax cut plan will be as big a flop as failed healthcare reforms | Nouriel Roubini image
....• Nouriel Roubini is a professor at NYU’s Stern School of Business. He was senior economist for international affairs in the Clinton White House and has worked for the IMF, the Federal Reserve and the World Bank. ...
Free trade warning – IMF, WTO and World Bank say it must be defended image
. Fears that Donald Trump’s arrival in the White House is threatening a new era of protectionism have prompted a joint defence of trade from the International Monetary Fund, the World Bank and the World Trade Organisation. ...
Will populist leaders stifle the global recovery – or vice versa? image
Source : Guardian [Read Article] Tuesday 4th of April 2017 03:32:12 PM
....But will the populist tide surging across the advanced economies drown the accelerating recovery? Or will the recovery stifle leaders who confidently espouse seductively simple solutions to genuinely complex problems?. With the International Monetary Fund/World Bank meetings coming up later this month in Washington, DC, leading central bankers and finance ministers will have ringside seats at Ground Zero. ...
Putin's illiberal stagnation in Russia offers up a valuable lesson | Joseph Stiglitz image
.... But other countries’ violations of international law, such as Russia’s actions in Ukraine, cannot be normalised either. • Joseph Stiglitz is a Nobel prizewinner in economics, professor at Columbia University, a former senior vice-president and chief economist of the World Bank, and one-time chair of the US president’s council of economic advisers under Bill Clinton. ...
Why denying refugees the right to work is a catastrophic error | Paul Collier and Alexander Betts image
.... One of the main vehicles for this would be through a series of five new SEZs, in which refugees would be employed alongside Jordanian nationals, partly building upon existing development areas. Over the next few months, the governments of Jordan and the UK, together with the World Bank, led the negotiation of a partnership to flesh out the details of the Jordan Compact and to carry the pilot forward. ...
US interest rate rise to deepen debt crisis in developing world image
Source : Guardian [Read Article] Monday 13th of March 2017 07:00:26 AM
.... That is the highest level since 2007. It used IMF and World Bank databases to calculate how a fall in commodity prices since mid-2014 had depleted government revenues and how the strengthening dollar had raised payments on external debts, which tend to be owed in dollars. ...
Greece desperate for growth strategy as public mood darkens image
Source : Guardian [Read Article] Sunday 5th of March 2017 04:54:18 PM
....In navigating the country’s economic collapse, every one of Athens’ post-crisis governments has at some point attempted to change the narrative by diverting attention to development and growth. But the latest shift comes amid evidence that prime minister Alexis Tsipras’s two-party administration has gone a step further, approaching the World Bank for a €3bn (£2. ...
Lesotho's 'pilot' fruit and flower farm image
Source : BBC [Read Article] Friday 24th of February 2017 09:42:21 PM
.... . The farm is the result of a World Bank pilot programme, which gives smallholders money to buy a stake in a 10-hectare farm and grow high-value crops such as apples, cherries and plums. ...
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Indonesia's four richest men worth as much as poorest 100 million image
Source : Guardian [Read Article] Thursday 23rd of February 2017 02:01:50 AM
....Oxfam said that despite rapid growth in gross domestic product (GDP) – which averaged at 5% between 2000-2016 and caused the country to be included in economics Civets list of fast growing emerging nations – “poverty reduction slowed to a near standstill”. Based on the World Bank’s “moderate” poverty line of $3. ...
Donald Trump, the master of unreality, must be resisted at every turn | Joseph Stiglitz image
.... One of the main challenges in this new era will be to remain vigilant and, whenever and wherever necessary, to resist. • Joseph Stiglitz is a Nobel prizewinner in economics, professor at Columbia University, a former senior vice-president and chief economist of the World Bank, and one-time chair of the US president’s council of economic advisers under Bill Clinton. ...
Trump's changed stance on Nato, will he sober up about IMF and WTO? | Barry Eichengreen image
.... Even a president committed to putting “America first” now seems to recognise that a framework through which countries can pursue shared goals is not a bad thing. The question now is whether what is true for Nato is also true for the International Monetary Fund, the World Bank, the World Trade Organisation, and the Basel committee on banking supervision. ...
Retreat from globalisation will destabilise the world economy | Mohamed El-Erian image
....The advanced economies’ final key advantage is voting power and representation. They command either veto power or a blocking minority in the Bretton Woods institutions (the International Monetary Fund and the World Bank), which gives them a disproportionate influence on the rules and practices that govern the international economic and monetary system. ...
Britain has grown rich by chasing the cash. Now it has lost the scent | Will Hutton image
.... Theresa May’s trip to the US was therefore not just about appearances; it was trying to cap the risks to globalisation, multilateralism and pivotal supranational institutions posed by Trump. If Britain locks herself out of Europe only to confront a world of stagnating trade, dog-eat-dog bilateral deals and the collapse of the great UN institutions, of which the IMF, WTO and World Bank are all part, then the British economy faces years of stagnation and decline. ...
Globalisation once made the world go around. Is it about to grind to a halt? image
....Christine Lagarde, managing director of the International Monetary Fund, said that if Trump went ahead with his trade agenda, it would undo all the growth benefits from his tax cuts and infrastructure spending – and then some. The hope at the big international organisations – the IMF, the World Bank and the OECD – is that the new president will quickly work out that there are downsides to putting a 45% tariff on Chinese goods: higher consumer prices and retaliation, to name but two. ...
Globalisation has made the world a better place | Jim O'Neill image
Source : Guardian [Read Article] Wednesday 18th of January 2017 10:07:59 AM
....At the same time, policymakers need to pursue measures to increase wages for the lowest earners, which could actually help boost productivity as capital becomes less expensive relative to labour. And, as the World Bank president, Jim Yong Kim, recently pointed out to me, we need to strengthen enforcement of laws governing trade deals, and do more to help challenged domestic sectors that lose out as a result of those deals. ...
Robotics, Trump and Brexit turn up the heat amid the snow of Davos image
Source : Guardian [Read Article] Saturday 14th of January 2017 03:59:30 PM
....Davos will also examine whether it’s time to give all citizens a basic income, to cushion them from the impact of technological change. “Machines, the argument goes, can take the jobs, but should not take the incomes: the job uncertainty that engulfs large swaths of society should be matched by a welfare policy that protects the masses, not only ‘the poor’,” said World Bank senior economist Ugo Gentilini. ...
China voices economic fears about Donald Trump presidency image
Source : Guardian [Read Article] Friday 13th of January 2017 06:19:18 PM
....The weaker than expected performance added to concerns that global demand is slowing in a climate of heightened political uncertainty and social tensions. The World Bank warned this week that a tentative pickup in the global economy is at risk from the uncertainty unleashed by Brexit and the arrival of Trump in the White House. ...
Trump and Brexit put global economic growth at risk, World Bank says image
Source : Guardian [Read Article] Tuesday 10th of January 2017 09:00:00 PM
. A tentative pickup in the global economy this year is at risk from the political uncertainty unleashed by Brexit and the arrival of Donald Trump in the White House, the World Bank has said. ...
United Arab Emirates to invest $163bn in renewables image
Source : BBC [Read Article] Tuesday 10th of January 2017 05:28:16 PM
.... . The UAE is eighth on the World Bank's worldwide list of CO2 emissions per capita, below Qatar, Kuwait and Bahrain. ...
My new year forecast: Trumpian uncertainty, and lots of it image
Source : Guardian [Read Article] Monday 9th of January 2017 11:59:13 AM
.... Still, as the world’s largest economy leads the way into uncharted political waters in 2017 and beyond, it would be foolhardy for a mere mortal to attempt a forecast, other than to state the obvious: the waters will almost certainly be choppy, and many – if not most – pundit ships will sink along the way. • Joseph Stiglitz is a nobel prizewinner in economics, university professor at Columbia University, a former senior vice-president and chief economist of the World Bank and chair of the US president’s council of economic advisers under Bill Clinton. ...
Will Donald Trump's election put America first and global conflict next? image
Source : Guardian [Read Article] Tuesday 3rd of January 2017 08:33:31 AM
....• Nouriel Roubini is a professor at NYU’s Stern School of Business. He was senior economist for international affairs in the Clinton White House and has worked for the IMF, the Federal Reserve, and the World Bank. ...
Adani coalmine 'covertly funded' by World Bank, says report image
Source : Guardian [Read Article] Thursday 22nd of December 2016 05:33:56 AM
. Adani’s Carmichael mine has been “covertly funded” by the World Bank through a private arm that is supposed to back “sustainable development”, according to a US-based human rights organisation. ...
What the US economy doesn't need from Donald Trump | Joseph Stiglitz image
Source : Guardian [Read Article] Monday 19th of December 2016 11:19:56 AM
.... As bad as his administration will be for America’s economy and workers, its policies on climate change, human rights, the media, and ensuring peace and security are likely to be no less damaging for everyone else. •Joseph Stiglitz is a Nobel prizewinner, university professor at Columbia University, chief economist of the Roosevelt Institute, a former senior vice-president of the World Bank and chair of the US president’s Council of Economic Advisers under Bill Clinton. ...
Southern rail dispute reflects workers’ growing fears about rise of automation image
.... The robot wars are also going to disrupt the progress of developing nations as they move from a dependency on agriculture for employment to manufacturing and the services industries. In October, the World Bank said automation threatens nearly seven out of 10 jobs in India and 77% in China. ...
Europe development banks plan £5.5bn backing for gas project ‘with mafia links’ image
....But public money is also being readied for the project from beyond Europe. The World Bank is reportedly putting the finishing touches to a $1bn loan this month, while the Asian Infrastructure Investment Bank has approved $600m of revenues. ...
World Bank raises record $75bn to help poorest members image
Source : Guardian [Read Article] Thursday 15th of December 2016 02:57:29 PM
. The World Bank has pledged to step up the fight against extreme poverty after announcing that tough negotiations with rich countries have left it with a record $75bn (£60bn) for grants and soft loans to its poorest members over the next three years. ...
Fossil fuel divestment funds double to $5tn in a year image
Source : Guardian [Read Article] Monday 12th of December 2016 04:00:31 PM
....If the world’s governments fulfil their pledges to tackle climate change by cutting carbon emissions, many fossil fuel reserves would have to be kept in the ground, potentially wasting trillions of investors’ money. This risk is now being taken seriously at the highest level, including the Bank of England, World Bank and the G20’s financial stability board. ...
Could Trump's chest-thumping over China trigger a trade war? image
Source : Guardian [Read Article] Saturday 10th of December 2016 10:00:11 AM
....”. Louis Kuijs, head of Asia economics at Oxford Economics and a former senior China economist at the World Bank, said it was “more legitimate now than at anytime in the last 10 years to talk about the risk of something pretty close to a trade war”, he said. ...
UK's digital strength could mean bright economic future – study image
Source : Guardian [Read Article] Wednesday 7th of December 2016 04:31:19 PM
.... Instead, it said the new era would be dominated by those countries that score heavily for human and creative capital. Using data from sources such as the World Bank, Unesco and Harvard University, the study ranked 152 countries according to how well they scored in five categories: creativity and innovation, economic diversity, digital economy, freedom, and stability and legal frameworks. ...
Smart money? image
Source : BBC [Read Article] Friday 2nd of December 2016 12:23:08 AM
Machine food image
Source : BBC [Read Article] Friday 25th of November 2016 12:36:28 AM
....The future of farming is automated. The World Bank says we'll need to produce 50% more food by 2050 if the global population continues to rise at its current pace. ...
Can Trump strike the right balance on monetary policy? image
Source : Guardian [Read Article] Friday 18th of November 2016 10:42:32 AM
....• Nouriel Roubini is a professor at NYU’s Stern School of Business, and was senior economist for international affairs in the White House’s council of economic advisers during the Clinton era. He has also worked for the IMF, the Federal Reserve, and the World Bank. ...
Joseph Stiglitz: what the US economy needs from Donald Trump image
Source : Guardian [Read Article] Tuesday 15th of November 2016 12:00:15 PM
.... Rather, the new rules will make the situation worse, excluding even more people from the American dream. • Joseph Stiglitz is a nobel prizewinner in economics, university professor at Columbia University, a former senior vice-president and chief economist of the World Bank and chair of the US president’s council of economic advisers under Bill Clinton. ...
Natural disasters push 26m into poverty each year, says World Bank image
Source : Guardian [Read Article] Monday 14th of November 2016 01:35:37 PM
. Floods, earthquakes, tsunamis and other extreme natural disasters push 26 million people into poverty each year and cost the global economy more than half a trillion dollars in lost consumption, the World Bank has said. ...
The Oval Office will tame President Donald Trump image
Source : Guardian [Read Article] Friday 11th of November 2016 10:48:51 AM
....•Nouriel Roubini is a professor at NYU’s Stern School of Business, was senior economist for international affairs in the White House’s Council of Economic Advisers during the Clinton Administration. He has worked for the IMF, the Federal Reserve, and the World Bank. ...
Economic woes create anti-establishment movements around the world image
Source : Guardian [Read Article] Saturday 5th of November 2016 04:00:51 PM
.... The slump, intensified by western sanctions and low oil prices, has pushed Russia’s poverty rate to a nine-year high. The World Bank expects it to rise further, with more than 20 million people, out of a population of some 140 million, living below the poverty line. ...
Falling behind? image
Source : BBC [Read Article] Wednesday 26th of October 2016 11:09:46 PM
....The claim: The falling pound has made the UK the world's sixth biggest economy, down from fifth. Reality Check verdict: The World Bank produces the rankings which are based on average exchange rates over the period. ...
Cash crop image
Source : BBC [Read Article] Tuesday 25th of October 2016 11:08:31 PM
....With the country's GDP currently estimated at $47bn and annual growth at 1. 5%, according to the World Bank, a $4bn boost to the official figures would be hugely welcome. ...
Economists win Nobel for contract theory image
Source : BBC [Read Article] Monday 10th of October 2016 10:26:50 AM
....Mr Holmstrom, aged 67, is a professor of economics and management at Massachusetts Institute of Technology, while Mr Hart, born in 1948, is an economics professor at Harvard University in the US. The pair saw off competition from the World Bank's new chief economist Paul Romer, who was widely tipped to win. ...
Deutsche Bank 'fails to reach swift US deal' image
Source : BBC [Read Article] Monday 10th of October 2016 08:00:50 AM
....The bank has been under intense pressure over the size of the fine. Mr Cryan was in the US for the International Monetary Fund and World Bank's autumn meetings. ...
Global trade image
Source : BBC [Read Article] Tuesday 4th of October 2016 11:22:43 PM
.... . It is the work of a former World Bank economist, Branko Milanovic, and his colleague Christoph Lakner. ...
Breaking down bonds image
Source : BBC [Read Article] Tuesday 13th of September 2016 09:33:43 AM
.... . Other official agencies also issue bonds, including the World Bank and the European Stability Mechanism (one of the agencies for eurozone bailouts). ...
Bank of England's Minouche Shafik leaves to run the LSE image
Source : BBC [Read Article] Monday 12th of September 2016 10:38:49 AM
....Ms Shafik will step down at the end of February. She joined the Bank as deputy governor for markets and banking in August 2014 after stints at the International Monetary Fund and the World Bank. ...
Social credit image
Source : BBC [Read Article] Friday 2nd of September 2016 01:20:18 AM
....This African diaspora sends more than $40bn (£30bn) back home each year. But costs are prohibitive: the World Bank says Africans pay an average of 9. ...
India to grant residency to rich foreigners image
Source : BBC [Read Article] Wednesday 31st of August 2016 12:30:18 PM
....The scheme will reportedly not be available to Chinese and Pakistani citizens. India is ranked 130th in the World Bank's Ease of Doing Business index. ...

The two big tests awaiting the Prime Minister's 'Mayconomics' agenda
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Source : Telegraph [Read Article] Saturday 13th of August 2016 06:48:38 AM
.... The American equivalent of our Monetary Policy Committee is charged with maximising employment as well as keeping inflation within certain bounds. One approach would be to declare three overlapping policy goals: low inflation, maximum employment consistent with low inflation, and to prevent the exchange rate from being over-valued according to independent benchmarks such as the Real Effective Exchange Rate (REER) published by the World Bank. ...

BBC let Emma Thompson get away with 'inaccurate' climate change claims, watchdog finds
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....”. The Trust noted scientific research had showed that temperature rise is more likely to occur over a longer period of time, “by the end of the century” according to the World Bank, but was “not challenged in any way by the presenter or programme”. ...

Cambodian prime minister jokes his pot belly is getting in the way of his golf swing
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....Golf is a game few Cambodians can afford. The average per capita income according to the World Bank is $1,158 (£887). ...

MPs ask Mandelson to explain Zimbabwe visit
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Source : Telegraph [Read Article] Sunday 7th of August 2016 04:37:49 PM
.... In particular, he needs $1. 1 billion (£800 million) to clear Zimbabwe’s arrears with the World Bank, a move that would open the way for a bailout from the International Monetary Fund (IMF) when its board meets in September. ...

How Mandelson met Mugabe's finance minister months before Zimbabwe's $1.1bn loan plan
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....Unable to pay civil servants or run its own ministries, Mr Mugabe’s regime is desperately trying to raise $1. 1 billion to settle its arrears with the World Bank. ...
Township entrepreneurs image
Source : BBC [Read Article] Wednesday 3rd of August 2016 11:00:27 PM
....". The World Bank estimates that more than half of South Africa's 53 million population lives in townships and other informal settlements. ...
World Bank president: Brexit 'contributed to slow growth' image
Source : BBC [Read Article] Wednesday 3rd of August 2016 02:10:05 PM
. World Bank President Dr Jim Yong Kim says Brexit has had a negative impact on the global economy and that this created difficulties for developing countries. ...
Turkish shares close down 7% after coup attempt image
Source : BBC [Read Article] Monday 18th of July 2016 08:33:54 AM
....He pointed out that Turkey was already considered as vulnerable among emerging economies. The World Bank has forecast that Turkey's economy will grow by 3. ...
'Believe in yourself' image
Source : BBC [Read Article] Monday 11th of July 2016 11:06:02 PM
....The newness of solar power in the country meant none of her friends who had invested in her previous business ventures were willing to lend her money so she was forced to use her house as collateral to provide the initial equity to get the business off the ground. Once the first project proved successful she had a real-life example of how the business worked and the potential profits, helping her secure the help of the World Bank to get further funding to rapidly expand. ...
China warns on global economy and says G20 must lead image
Source : BBC [Read Article] Sunday 10th of July 2016 08:48:51 AM
....Mr Gao did not mention Brexit in his opening remarks at the meeting, but the vote by the UK to leave the EU has added to the global financial uncertainty. In June the World Bank cut its forecast for the global economy in 2016 from 2. ...
Five threats to American prosperity tie the hands of its banker-in-chief image
.... The concern is that the consumer will also assume the responsibility for taking on debt to keep the economy afloat. With the World Bank now anticipating that this year will be marked by the slowest global expansion since the financial crash, China will have to rely on domestic demand to secure Beijing’s goal of growth at between 6. ...
Will giving fat cats some of the cream help to cut poverty? | Jonathan Glennie image
....Hsieh set out to explain why China had done so well since the late 1980s. He started by looking at the World Bank’s doing business rankings, which order countries by how easy it is to start a business. ...
Cheap oil will weigh on global economy, says World Bank image
Source : Guardian [Read Article] Tuesday 7th of June 2016 08:01:30 PM
. Global growth will slow this year as oil exporters in the developing world struggle to cope with lower energy prices, the World Bank has said in its half-yearly economic health check. ...
The case against negative interest rates image
Source : Guardian [Read Article] Wednesday 25th of May 2016 09:05:55 AM
.... The calculation is that it will make more sense for a commercial bank to put money into circulation, whether by making loans or buying government and other securities, than to pay the central bank for holding that money. But, as the World Bank has pointed out, negative rates can have undesirable effects. ...
Climate change puts 1.3bn people and $158tn at risk, says World Bank image
....The global community is badly prepared for a rapid increase in climate change-related natural disasters that by 2050 will put 1. 3 billion people at risk, according to the World Bank. ...
Kipper Williams on the World Bank's climate change warning image
Source : Guardian [Read Article] Monday 16th of May 2016 07:00:07 PM
...
The new era of monopoly is here image
Source : Guardian [Read Article] Friday 13th of May 2016 01:15:11 PM
.... Indeed, in that case, the battle against entrenched power is not only a battle for democracy; it is also a battle for efficiency and shared prosperity. Joseph Stiglitz, is a Nobel-prizewinning economist, professor at Columbia University, former senior chief economist of the World Bank and chair of the council of economic advisers under Bill Clinton. ...
Top 25 hedge fund managers earned $13bn in 2015 – more than some nations image
....Simons, 78, who retired as CEO of Renaissance in 2009, is the 50th richest person in the world, according to Forbes. His earnings last year were so large that if he were a country it would rate as the world’s 178th most productive nation, according to the World Bank’s GDP rankings. ...
The great leap upward: China's Pearl River Delta, then and now image
Source : Guardian [Read Article] Tuesday 10th of May 2016 10:42:14 AM
.... A series of massive infrastructure projects are under way to merge transport, energy, water and telecoms networks across the nine cities. Development has been relentless, and the World Bank recently named the Pearl River Delta as the biggest urban area in the world in terms of population and geographical size. ...
The great leap upward: China's Pearl River Delta, then and now image
Source : Guardian [Read Article] Tuesday 10th of May 2016 10:42:14 AM
.... A series of massive infrastructure projects are under way to merge transport, energy, water and telecoms networks across the nine cities. Development has been relentless, and the World Bank recently named the Pearl River Delta as the biggest urban area in the world in terms of population and geographical size. ...
Turkey engulfed by bad loans and BANKRUPTCIES: Economic fears as it tries to join eurozone image
.... Growth is expected to cool to 3. 5 per cent this year, the World Bank said last week - well below peaks of near double digits of recent years. ...
Has the global economic growth malaise become the 'new normal'? image
Source : Guardian [Read Article] Monday 2nd of May 2016 10:31:29 AM
....Thus, for the time being, we are likely to remain in what the IMF calls the “new mediocre”, Larry Summers calls “secular stagnation”, and the Chinese call the “new normal”, But make no mistake: there is nothing normal or healthy about economic performance that is increasing inequality and, in many countries, leading to a populist backlash – both on the right and the left – against trade, globalisation, migration, technological innovation, and market-oriented policies. • Nouriel Roubini is a professor at NYU’s Stern School of Business and has worked for the IMF, the Federal Reserve, and the World Bank. ...

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