East Asia and Pacific
Alassane Sow, World Bank Country Manager for Cambodia, and Rana Flowers, UNICEF Representative to Cambodia, wrote an op-ed for The Phnom Penh Post. Read the op-ed below, courtesy of The Phnom Penh Post.Did you know that in communities where a high proportion of people defecate outdoors, children are on average shorter than children living in communities where most people use toilets?
Editor's Note: "Notes From the Field" is an occasional feature where we let World Bank professionals conducting interesting trade-related projects around the globe explain some of the challenges and triumphs of their day-to-day work. The views expressed here are personal and should not be attributed to the World Bank. All interviews have been edited for clarity.
The interview below was conducted with Manjula Luthria, a Senior Economist in the World Bank’s Middle East and North Africa (MENA) regional division of the Human Development Network. Ms. Luthria's work focuses migration, labor mobility, and social protection. She spoke with us about her early experiences as a country economist for the Pacific Islands region, and how lessons learned there have come to inform the programs and projects her unit works on today.
- Bilateral Labor Agreements
- Labor Mobility
- Labor migration
- Migration and Remittances
- Labor and Social Protection
- Global Economy
- Middle East and North Africa
- East Asia and Pacific
- Solomon Islands
- Papua New Guinea
- New Zealand
- New Caledonia
- Micronesia, Federated States of
- Marshall Islands
- French Polynesia
- Cook Islands
- American Samoa
When I was asked to produce a video about the Chiang Mai Sustainable Urban Transport Project, I thought it would be really interesting for me to see how Thailand’s second largest city had changed. The last time I visited Chiang Mai before this was 15 years ago, in the 1990s.
Chiang Mai is now very vibrant and full of potential. There is an energetic, creative buzz about it and yet it still manages to hold on to its unique heritage and identity.
The US and European economies are showing some signs of recovery from the global financial crisis that began in 2008. As a result, the US Federal Reserve Bank is considering phasing out, or “tapering”, the extraordinary monetary policy measures through which it responded to the crisis. On May 22, Fed Chairman Ben Bernanke testified before Congress that the Fed may begin to reduce the size of its bond buying program. There was an immediate withdrawal by investors from stocks and bonds in emerging markets. The World Bank's East Asia and Pacific regional update estimated that in East Asia alone $24 billion was withdrawn from equities and $35.2 billion from bonds. Share prices fell by 24 percent in Indonesia, 21 percent in Thailand, and 20 percent in the Philippines. Yields on 10 year local currency bonds increased by 273 basis points in Indonesia, 86 basis points in Thailand and 76 basis points in Malaysia. The exchange rate depreciated by 18 percent in Indonesia, and about 5 percent in the Philippines and Thailand. Financial markets largely recovered once the Fed decided to postpone tapering in September, but there is still nervousness. The Indonesian Rupiah and Indian Rupee both fell significantly in November, till Fed Chair nominee Janet Yellen signaled that she saw a continued need for the bond buying program.
At some point the Fed will indeed begin to taper. Investors should clearly be concerned as there is a risk of sudden and dramatic falls in asset prices. Should policy makers be concerned? Will there be an impact on growth, inflation or macroeconomic risk that requires a response from policy makers?
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.
- Brunei Darussalam
- New Zealand
- United States
- East Asia and Pacific
- Europe and Central Asia
- Latin America & Caribbean
- The World Region
- Global Economy
- Information and Communication Technologies
- Law and Regulation
- TTIP. Trans-Pacific Partnership
- Agricultural Subsidies
- Free Trade
2013 has been a year of adjustment for Indonesia’s economy. In the recent edition of the Indonesia Economic Quarterly report, the flagship publication of the World Bank Indonesia office, we asked the questions: what are the drivers of this adjustment and how should policy respond?
In the early 1990s, selling condoms was highly controversial in Vietnam. For so long, condoms had been distributed to each household throughout the country for free for family planning use only. Condoms were not used for promoting safe sex. It was extremely difficult to convince the media to advertise condoms, very hard to convince the government that it was possible to generate revenue from selling condoms. People found it embarrassing to buy condoms in shops or drugs stores.
Everyone who travels to Thailand will want to have Chiang Mai on their list. It’s an old city which reflects the lovely northern Thai culture and has a lot of significant history behind it. My wife and I spent our first anniversary there because it’s very nice and peaceful. Chiang Mai is a place where Thais often go to recharge and take advantage of the slower pace of life. I have started recently travelling to Chiang Mai more often for work, but even that is also pleasurable.
Chiang Mai has grown so much, and so fast. We see more and more cars in the city center. The traffic jams are becoming problematic and the public transportation issue remains an unsolved problem. To help, the World Bank is supporting the Chiang Mai Municipality's vision of promoting “green mobility” with help from the Global Environment Facility (GEF). It is a small pilot project that supports non-motorized transport, such as walking and bicycling, by improving city center's walk path and bicycle lanes in the city center.