Syndicate content

Malaysia

Sri Lanka - Resplendent Island, Raring to Deliver

Parth Shri Tewari's picture


Sri Lanka conjures up different images in the minds of different people: lush green tropical canopies, steaming cups of aromatic tea, and hardworking fishermen in their dinghy boats.

For me, the country also packs enormous promise for growth and development. There is not the slightest doubt that Sri Lanka will have to come clean and deal with the aftermath of its prolonged civil war. However, at a fundamental level, there is a sense of hunger in its people to rebuild their lives and their country. The new-found peace that engulfs the population is cherished by most, and is part of dinner conversations especially with foreigners like me.

Sri Lanka already holds a strong position in certain agricultural and industrial exports, like tea or uncut diamonds. Combine this with its strategic location – situated at the crossroads of major shipping routes connecting South Asia, East Asia and the Middle East – and you have a potent combination, a promise waiting to be fulfilled.

I recently spoke at an event organized by the country’s top business newspaper, the Daily Financial Times, in partnership with the well-regarded Colombo University MBA Alumni Association. The focus of the forum was the country’s emerging six-hub strategy – Maritime, Commercial, Knowledge, Aviation, Energy and Tourism: the cornerstone of its further economic development.

The euphoria leading up to the event was palpable. The ceremonial drums and lighting of the auspicious lamp to evoke good omen created the perfect ambience. I was nervous, not because of stage fright, but because I was about to present a contrarian viewpoint to private-sector and public-sector experts, while sharing the stage with the Minister of Economic Development and the Governor of the Sri Lanka’s Central Bank. Even though my arguments were well-thought-through and fact-based, it was going to be a delicate dance, as I was about to communicate some tough arguments against the implementation of the full-blown six-hub strategy.

TPP & TTIP: More Questions Than Answers

Miles McKenna's picture

Incense stick production in Hue, Vietnam. The country could be one of the biggest winners of a potential Trans-Pacific Partnership trade agreement. Source - Austronesian Expeditions.If you follow trade negotiations, then you know there are few more contentious than those for the Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP).
 
On February 4, the World Bank’s International Trade Unit hosted Phil Levy, a senior fellow on the global economy at the Chicago Council on Global Affairs, who has been following both negotiations closely. Levy spoke with World Bank staff about the potential implications for developing countries as negotiations move forward in what he calls “bargaining among behemoths.”
 
At this point in the negotiations, one thing is clear: there are still more questions than answers.

Safe Food for Thought for the Holiday Season

Juergen Voegele's picture

Cleaning food in Moldova. Michael Jones/World BankIn the lead up to the holidays, much will be written about how we, as consumers, can safely prepare food to ensure that friends and family remember a wonderful holiday meal and not the bout of food poisoning that landed a loved one in the emergency room.

But it often strikes me that other major threats to food safety – those that lie undetected in farms and factories and other vulnerable points along the food supply chain – are not part of the conversation until tainted food surfaces in grocery stores and on dinner plates, making millions sick and even killing people along the way.

As global headlines have illustrated – packaged salads in the United States, sprouts in Germany, milk and infant formula in China – food safety is a serious issue that affects all of us: individuals, nations, and businesses.  No country is immune, and as global agri-food value chains become more integrated, food safety hazards that were once geographically confined can now span countries and continents with ease.

Trade Regionalism in the Asia-Pacific: New Game, Old Rules?

Swarnim Wagle's picture

What's the next move in the major economies' Great Game? Source - wonderkris.Editor's Note: This blog draws on the forthcoming article “New Trade Regionalism in Asia: Looking Past the Sino-American Great Game," written by Swarnim Wagle, to be published in the Global Emerging Voices 2013 Working Papers. 
 
Negotiations over one of history’s most ambitious trade deals have taken another step towards defining the future of Trans-Pacific trade.
 
The latest round of discussions on the Trans-Pacific Partnership (TPP) wrapped up this past weekend in Salt Lake City, Utah. Negotiators are believed to have made headway on a number of thorny issues, clearing the way for ministerial talks to be held in Singapore, Dec. 7-10.   
 
The TPP will draw together 12 countries dotting the perimeter of the Pacific—Australia, Brunei, Chile, Canada, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. But it’s the United States’ efforts to spearhead the talks that have attracted the most attention. Concerns over a lack of transparency and the intrusive scope of the agreements’ provisions into national policymaking have led many to question its objective.
 

Learning to Compete Globally: Maghreb Universities look to Malaysia for Inspiration

Adriana Jaramillo's picture

Learning to Compete Globally: Maghreb Universities look to Malaysia for Inspiration

The numbers are staggering. Almost one third of the populations of Algeria and Morocco are under the age of 15, with Tunisia following close behind. This ‘youth bulge’ is placing immense pressure on the education systems of the Maghreb.

How to Avoid Middle Income Traps?

Ejaz Ghani's picture

With Aaron Flaeen and Saurabh Mishra

Many developing countries have successfully made the transition from low-income to middle-income status, thanks to rapid economic growth, but have subsequently got stuck in a middle income trap. A great deal of research has been done on what explains much faster growth in the developing world than in the developed world (Acemoglu et al 2011; Baldwin 2011; Commission on Growth and Development 2008; Rodrik 2013; UNIDO 2011). But little is known about why so few countries succeed in making the transition from middle-income to high-income status (The Economist, 2013). This is a worrying trend and an issue of major concern, especially because the majority of poor people now live not in low-income but in middle-income countries (Chandy and Gertz, 2011; Sumner and Kanbur, 2011). So what is a middle income trap? What should policy makers do?

We have examined these questions in the context of Malaysia, whose structural transformation from low to middle income has made it one of the most prominent manufacturing exporters’ in the world. However, in a competitive global economy, like many other middle-income economies, it is sandwiched between low-wage economies on one side and more innovative advanced economies on the other.

The Fight to End Wildlife Crime Is a Fight for Humanity

Valerie Hickey's picture

Available in ไทย

Elephants in Kenya. Curt Carnemark/World Bank

Elephant ivory is on the march. Not elephants, but their ivory. The elephants are left bloodied and dead on the range. So are many rangers who work to protect a country’s natural capital. In the past 10 years, over 1,000 rangers have been murdered in 35 countries alone; the International Ranger Federation tell us that as many as 5,000 may have been murdered worldwide in that time.
 

At the CITES COP – the Conference of the Parties to the Convention on International Trade in Endangered Species – the halls in Bangkok ring loud with concern for the elephants and other charismatic species, particularly rhinos, that are being exterminated across Africa in pursuit of private profit, at the expense of communities that rely on nature for their food, shelter, start-up capital, and safety net in a warming world.


So why should the World Bank care? Our concern is to build strong economies and healthy communities by revving the engine of inclusive green growth as we prepare countries and communities for the impacts of climate change.

What does this have to do with elephant ivory you ask? Simply put, we cannot achieve our dream of a world without poverty without taking account of the rise in wildlife crime.

Institutions and Systems Matter for Health and Social Development

Patricio V. Marquez's picture

This past week, I attended a couple of interesting seminars at the World Bank’s Human Development Forum on how some mineral-rich countries have been able to translate their newfound riches into sustained economic growth, improved living conditions, and  better nutrition, health and education levels for their populations.

Webinar Jan. 10: Urbanization Along the Waterfront

Parul Agarwala's picture

Riverfront as cultural center, IndiaHistorically, cities and civilizations have flourished along water bodies, which not only served as important transportation corridors to spur economic activity and trade, but also as prominent public spaces for religious and cultural interaction. Today, while a large number of cities have turned away from this important natural resource, many have reclaimed and transformed their waterfronts into thriving economic engines and nodes of social activity. Can cities redefine their relationship with water while managing challenges of rapid urbanization?

The World Bank’s South Asia Sustainable Development Unit, in collaboration with East Asia Pacific Sustainable Development Unit, is organizing a webinar on waterfront development to discuss different dimensions of waterfront initiatives and tools for a sustainable regenerative economic environment.

Prospects Daily: US consumer confidence falls; inflation moderated in Chile, Peru and Mexico but rose slightly in Brazil


Financial Markets…U.S. Treasuries slid for the first time in four days, with the benchmark note yields 3 basis points to 1.62%, as a government report showed U.S. employers added more than forecasted jobs in November. U.S government bonds have advanced 2.8% this year as of yesterday, after gaining 9.8% in 2011 and 5.9% in 2010.


Pages