Lower oil prices are a boon for oil importers around the world. But how well are oil-producing countries adapting to the apparent end of a decades-long “commodity supercycle” and lower revenues? And what does this mean for the global economy?
World Bank economists provided insights on the situation in six developing regions at a webcast event April 15 ahead of the World Bank Group-IMF Spring Meetings. The discussion focused on the challenge of creating sustainable global growth in an environment of slowing growth.
World Bank Chief Economist Kaushik Basu said the global economy is growing at 2.9% and is “in a state of calm, but a slightly threatening kind of calm. … Just beneath the surface, there’s a lot happening, and that leads to some disquiet, concern – and the possibilities of a major turnaround and improvement.”
East Asia and Pacific
- Urban Development
- Social Development
- Public Sector and Governance
- Information and Communication Technologies
- Global Economy
- Financial Sector
- Climate Change
- Agriculture and Rural Development
- South Asia
- East Asia and Pacific
- Sri Lanka
Originally, black boxes in airplanes perform routine gathering and storing of data on all airplane operations during fly time. In the event of a specific accident or crash, the log data can be analyzed to determine or clarify the causes of an incident.
A black box for cars is a video recording device with an acceleration sensor and a GPS receiver module. It can record any situation happening in front of a vehicle and store the information in the form of digital images into a built-in memory card. A vehicle’s black box is not a newly developed technology, but an application of existing video-recording technologies for the purpose of increasing road safety. This simple technology also has played a crucial role in solving or clarifying causes related to traffic crashes. Above all, the black box for vehicles has resulted in a decrease of traffic crashes, thus saving lives.
In South Korea, for example, taxi drivers first installed vehicles’ black boxes back in 2008. Since then, vehicle black boxes have been rapidly adopted by taxis throughout the country, under the sponsorship of local governments and insurance companies.
When you combine death-by-smog with deaths related to exposure to dirty indoor air, contaminated land and unsafe water, the grand total of deaths from all pollution sources climbs to almost 9 million deaths each year worldwide. That’s more than 1 in 7 deaths and makes pollution deadlier than malnutrition.
This fact deserves to be better known, as there are ready solutions. Inaction is not an option.
What does it mean to be poor in Vietnam? When I grew up in Hanoi in the late 80s, poverty was all around. Most of the population then was living under the international poverty line ($1.25 per day). Because there were no living standard surveys to measure poverty, there was no clear indication of what it meant to be poor. A rich person at that time was someone with either a motorbike or a television set, while a poor one was a street beggar or someone who did not have enough rice to eat. In the earliest survey conducted in 1992 and 1993, about 64% of the population was poor by the international poverty line. Twenty years later, less than 3% were considered poor by the same standard while hunger was successfully eradicated.
“Do you have any bread?”
“What happened to the water/electricity/heat?”
Over the past three decades, China has successfully lifted more than 500 million people out of poverty. For many years, the government’s poverty alleviation strategy focused on ensuring that every person had access to enough food. Driven by rapid economic development and urbanization, China is today one of the world’s largest producers and consumers of agricultural products.
Now the Chinese government has turned its attention to making the country’s food supply safer. The issue has become so important that, in the words of President Xi Jinping: “Whether we can provide a satisfying solution on food safety to the people is an important test on our capacity of governance.”
According to a poll published in March 2015, more than 77 percent of respondents ranked food safety as the most important quality of life issue. Environmental pollution, which experts consider one of the causes of China’s food safety problems, was another top issue worrying the public.
Chinese people attach significant importance to food, beyond its nutritional characteristics, due to historic memories of starvation. Food is also a symbol of regional pride and distinction, as well as a reflection of respect to guests.
Traditionally Chinese people believe each type of food brings specific medicinal features. Ginger cures a cold, garlic stops diarrhea, spinach is good for the blood, walnuts are good for the brain, pear relieves a cough, etc. When in China, you cannot avoid stories on how adding a specific food to one’s diet helped cure some disease. Therefore, it is understandable why Chinese people attach such importance to food safety. Contaminated or unsafe food poses a threat to public health and also risks undermining social stability and cultural identity.
The root causes China’s food safety problems come from the country’s rapid development. China has experienced unprecedented growth in recent decades and now is the world’s second-largest economy. Such rapid expansion has unleashed positive and negative effects. The industrial boom coupled with urban expansion and infrastructure development put significant pressure on both land and water resources. Over the long term, that pressure could constrain the ability to produce more food.