The lack of clean water and basic sanitation that afflicts up to 40 per cent of the world’s population knocks at least $556bn (£317bn, €458bn) a year off the world’s potential economic growth, according to the World Health Organisation, equivalent to about 1 per cent of global gross domestic product.
A colleague, Samuel Maimbo, recently came back from a Bank supervision mission to Marzar-e-Sharif, Afghanistan, where he visited a cotton factory. He shared with me his diary from the trip, with some great pictures. A snipet:
The biggest disappointment was the state of the roads. They were in a complete state of disrepair. Potholes everywhere, waterlogged roads, mud and a complete lack of maintenance. It almost reminded me of Bossaso in Somalia.
In the award winning book, ‘Travels of a T-Shirt in the Global Economy: An Economist Examines the Markets, Power, and Politics of World Trade,’ Pietra Rivoli tracked the making of T-shirts as it traveled from American cotton farms to Chinese factories, finally arriving on a showroom in Ft. Lauderdale – and all of the tariffs and protective barriers in between.
Jeffrey Sachs on ‘Who beats corruption?’ Nothing terribly new, but nice and short. Some of you may enjoy.
The currents that will make the world a very different business environment in 2015 – according to Ian Davis, managing director of McKinsey & Co.: