The Chinese Communist Party has maintained political office and subsequent control in China since 1949. Chinese leaders now draw their legitimacy from the state’s amazing economic growth. China now looks to Africa for resources and offers African nations an economic model they can emulate that is vastly different than western standards.
The Euro will survive. Survival is an economic, political and social necessity, central to Europe’s success. That the Euro must not fail should encourage Europe to take measures to overcome the current challenges the single currency faces. As Richard Youngs of the think tank FRIDE hopes, Europe should adopt a unity in adversity approach.
The ‘free marketeers’ continue to take irresponsible risks, plunder the land, poison the seas, sicken whole communities, lay waste to entire regions, and pocket obscene profits.
The economic crisis has brought about a transformation in international governance, signalling a break with the established economic architecture. While at the outset, measures taken appeared in an ad hoc or temporary manner, the decision at the recent Pittsburgh Summit to institutionalize the Group of 20 leaders’ summit reflects a decided shift in economic leadership. New players, new institutions and new issues have moved to the centre of the agenda.
Concerns that the pursuit of a low carbon global economy may lead to further deprivation in the developing world rest on a false assumption. ‘Low carbon life styles’ are already lived by the poor in the ‘South’. It is rich countries, accounting for most of the pollution, which face an unprecedented challenge in adapting their ways of life to allow human societies to survive on the planet.
The financial and economic events of the last few weeks have shocked many of us. Indeed, they have shocked us out of our complacency and made apparent the urgent need to reform the financial sector. But more than that, there is a sense that it may now be possible to seize this moment as an opportunity to go much further.
In 1998, Jonathan Fox and David Brown found that a loose, interactive group of civil society actors and small numbers of Bank and donor officials, had provided the evidence, ideas and encouragement for donors such as the United States to pressure the World Bank to move away from environmentally and socially hazardous projects.
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