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Weekly Wire: The Global Forum

Roxanne Bauer's picture
These are some of the views and reports relevant to our readers that caught our attention this week.
 

Thanks to Urbanization, Tomorrow's Megalopolises Will Be in Africa and Asia
Foreign Policy
Tokyo will still be the world’s largest city in 2030, but it will have many more contenders on its heels. According to a fascinating new report from the United Nations, the globe will have 41 “mega-cities” -- defined as those with 10 million or more inhabitants -- up from 28 now. Although the world’s largest urban centers have historically been concentrated in the developed world, fast-paced urbanization in Africa and Asia means that the megalopolises of tomorrow will be found in the developing world. By 2030, Asia and Africa will host nine of the world’s 10 largest cities, according to the report.

Mobilizing Private Investment for Post-2015 Sustainable Development
Brookings
The sustainable development goals are likely to have a more ambitious scope than the Millennium Development Goals. Accordingly, they will need a more ambitious financing for development strategy that can mobilize much more public, private, and “blended” finance.  Very rough estimates indicate that at least $1 trillion of additional annual investment is required in developing and emerging economies.  At first glance this might appear to be a large number, but it represents only approximately 10 percent of extra investment above current levels. It is clear that official development assistance, on its own, would be incapable of meeting financing needs, even if the target to provide 0.7 percent of gross national income were to be achieved by all developed countries. But official development assistance (ODA) could, through leverage and catalytic support, help mobilize substantially more private capital. 
 

India: From BRICS to Fragile ‘n’ (and Back!)

Poonam Gupta's picture

India has covered a long distance in what seems like a short time. Once proudly reckoned as one of the BRICS countries, it is now making frequent headlines in the international financial press as one of the financially fragile countries (fragile 5, fragile 8, edgy eight etc.). Like many other emerging markets in the world, India is feeling the pinch of the global liquidity retrenchment and rebalancing on its exchange rate and capital flows.  Several observers have rationalized the investors’ behavior on account of the hard data on the Indian economy: growth has decelerated (from 8.9 % two years ago to 4.5 percent in fiscal year 2013), current account deficit is reigning high, inflation remains stubbornly high, and savings and investment rates have been falling. And all of this is happening amidst an upcoming national election, when elections anywhere invariably are associated with political and economic uncertainty.

What would it take for India to regain its place in a more revered acronym soon, rather than a less flattering fragile ‘n’ ensemble?

Longreads: China 2013 Survey, Low Carbon Competitiveness, Pakistan’s Overseas Workers, the Great Chinua Achebe

Donna Barne's picture

Find a good longread on development? Tweet it to @worldbank with the hashtag #longreads.

 

LongreadsChina’s prospects stirred interest as the BRICs met in South Africa and a new survey by the Organization for Economic Co-operation and Development found China on course to become the world’s largest economy by 2016. The OECD study says China has “weathered the global economic and financial crisis of the past five years better than virtually any OECD country” and should be able to continue catching up and improving living standards over the next decade.  While the OECD study says China needs to shift to more environmentally friendly modes of consumption and production, a new Climate Institute/GE Low-Carbon Competitiveness Index finds that France, Japan, China, South Korea and the United Kingdom are “currently best positioned to prosper in the global low-carbon economy.”

Climate Institute/GE Low-Carbon Competitiveness Index
Climate Institute/GE Low-Carbon Competitiveness Index

Brazilian Competitiveness: Folia and Hangover

Otaviano Canuto's picture

As the Carnival in Brazil kicked off last weekend, Brazilians were ready for a party. They have reasons to celebrate. Despite a lackluster GDP performance in the last two years, unemployment rates remain at record low levels.