In recent discussions that I have had with decision makers and economists working on People’s Republic of China (PRC), the question on the incoming leadership’s approach to economic reforms inevitably comes up. Is the transition to new leadership a good opportunity to rethink economic policies?
“Inclusive growth” and “green growth” are two buzzwords that we often hear in the development sphere nowadays. This is not surprising since these two form key part of many development strategies. While Asia has done extremely well in expanding its economies in the last two to three decades, rapid growth has brought with it rising inequality—within and across countries. It has also badly damaged the environment along the way.
I have a straight answer and a caveat. The answer is: Definitely Not. The caveat is: integration is a long-term process. Over time, Asia definitely needs to become more integrated in order to sustain its growth as well as its contribution to global growth. In the medium-term, Asia should exert concerted efforts to continuously boost regional cooperation.
Bhutan, located in the eastern Himalayas, is a small landlocked country between the People’s Republic of China (PRC) and India. Virtually the entire country is mountainous. Despite challenging geography and limited connection to the global markets, the country managed to ignite and sustain strong economic growth by unlocking its hydro potential.
Social enterprises have collectively established themselves as a viable and productive sector within the United Kingdom’s (UK’s) economy. There are over 60,000 social enterprises in the country employing at least 800,000 persons.
The health status of the population of Papua New Guinea (PNG) has deteriorated since the 1980s due to neglect of the health system, especially in rural areas, where 87% of the population live. An estimated 40% of rural health facilities have closed or are not fully functioning.
For development institutions, private sector investments offer plenty of potential for promoting inclusive and environmentally sustainable growth at a profit. But how successful are they in achieving actual development gains?
The US Fed has been winding down its bond purchase program, widely known as “quantitative easing,” since December 2013. The program was introduced in the wake of the 2008 global financial crisis to fight the recession and foster a rapid economic recovery. With the improvement in the US economy, the Fed suggested at its policy meeting in March that the program may end this coming fall and it may start raising interest rates about six months from then.
Almost 1,500 years ago in the sixth and seventh century, southern Kazakhstan was part of the famous Silk Road that carried goods, ideas and cultural influences from as far as China to Europe.
The establishment of the Millennium Development Goals (MDGs) by the United Nations in 2001 was a defining moment. It rallied a global effort in the fight against poverty, hunger, and disease, while promoting universal education, gender equality, and environmental sustainability. However, new challenges have emerged while remaining ones are complex. Meanwhile, the 2015 deadline for achieving the MDGs is almost upon us, raising the question: where do we go from here?