SDGs: Economic Issues at National and Global Levels
The economic pillar of sustainable development is crucial, yet relatively neglected. It should get its proper place in the Sustainable Development Goals. This paper deals with economic issues at national level (as Sustainable Development Goals) and at international level (as part of the new Global Partnership for Development). It is part of the South Centre’s contribution to the United Nations process of establishing Sustainable Development Goals.
China seems to be preparing to play a bigger role in global economic affairs, but not at the cost of giving up its developing country status. After years of being rather low key in economic and social affairs at the United Nations, it looks as if China is now ready to upgrade its role in the future. (more…)
The economically successful developing countries are characterised as having a strong “developmental state”. But this role of the state is coming under attack in new global rules being created. Two new trade agreements involving the two economic giants, the United States and European Union, are leading a charge against the role of the state in the economy in developing countries. Attention should be paid to this initiative as it has serious repercussions on the future development plans and prospects of the developing countries. (more…)
Five years after the Lehman Brothers collapse triggered the global financial crisis, there are still no effective financial regulations in developed countries, while the developing countries face big new challenges.
Growth in the South: Resilience, Decoupling, Recoupling
By Yilmaz Akyuz
Rapid acceleration of growth in developing countries (DCs) and the widening of their growth gap with advanced economies (AEs) before the outbreak of the global financial crisis were widely interpreted as decoupling of the South from the North. In the early days of the crisis, there were also widespread expectations that growth in the South would be little affected by the difficulties facing AEs. In fact, DCs slowed considerably in 2009 as a result of contraction of exports to AEs and financial contagion. However, they recovered rapidly, with growth rates in 2010-11 matching or exceeding the levels seen before the crisis, while recovery in the US has remained weak and erratic, and Europe has gone into a second dip. This has again revived the decoupling thesis, notwithstanding the sharp slowdown in many major DCs over the course of the current year.
Bilateral investment treaties pose many challenges to developing countries, and initiatives are underway to move towards a new framework. This message is contained in a closing speech by Mariama Williams on behalf of the South Centre at the 6th Annual Investment Forum for Developing Country Negotiators, Port of Spain, Trinidad and Tobago, 29-31 October 2012, which was co- organised by the South Centre.
Developing countries very vulnerable to global economic crisis, UN role is vital: South Centre speech at UN
By Yilmaz Akyüz
The world economy is as fragile today as in 2009. Developing countries are very vulnerable to a slowdown caused by the Eurozone crisis. There has been no global reforms and the G20 is ineffective. Thus the role of the UN on global economic issues is vital. These are highlights of the speech by the South Centre’s Chief Economist at the UN General Assembly High Level Thematic Debate on the State of the Global Economy in New York on 18 May.
