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Imagine a new Indonesia: Spending to improve development

Wolfgang Fengler's picture

Imagine how the new Indonesia would prosper if everyone had affordable health insurance, every child completed secondary education and highways were in place connecting Indonesia’s three biggest cities: Jakarta, Surabaya and Medan.

Can China become the engine for world economic growth?

David Dollar's picture

This somewhat provocative question was the title of a conference hosted by Oxford and Standard Charter this week in London.  My answer was: "No, not tomorrow; but yes, eventually – especially if China continues to vigorously pursue economic reform."
 
The reason that China cannot be the engine of global growth tomorrow is straight-forward.  For the last decade an awful lot of the final demand in the world has come from the U.S.  That era is over for the time being as U.S. households now concentrate on rebuilding their savings.  No one country can fill the gap left by the slowdown in U.S. consumption: Japan, Germany, and China together have less consumption than the U.S., so no one of them can replace the U.S. as the major source of demand in the world.  It's not realistic to expect China to play that role.  But we are probably moving into a more multi-polar period in which there is more balanced growth in all of the major economies. 

Using social media to do good

James I Davison's picture

I came across a small, but interesting online effort to raise donations for an organization that works to improve child literacy in Laos. Called Library for Laos, the effort aims to raise $5,000 by May 1– just five days after it started. The money raised is intended to go to Big Brother Mouse, a neat, Laos-based project that publishes, teaches and distributes books to children in a country they say desperately needs it.

It's a nice concept for a good cause, but what sticks out to me are the coordinators' clear attempts to use social media to spread the word about their effort. On their website, they bank on the ease of PayPal for donating money and the viral nature of social media: "How many people follow you on Twitter? How many friends do you have on Facebook? Let's see how valuable they are!" It's early to tell if they're succeeding. After the first day, they had apparently raised $500 dollars.

Either way, the endeavor highlights how social sites like Facebook, which permeates everyday life for many of us, can serve the world's poor. For example, you have the option to join various "causes" on Facebook. And on Twitter, information can spread like wildfire through retweets (rebroadcasting content to your own set of followers). What do you think? Would you ask your online friends and/or followers to donate money to a good cause?

(Found via: Escape the Cube). Image credit: rustystewart at Flickr under a Creative Commons license.

China and stimulus packages: the best way to respond to more bad news?

Louis Kuijs's picture

A few days ago, our country director David Dollar blogged about the two-sided picture we see when we look at China's economic growth. The economy saw very weak export demand, which partly carried over into weak investment in manufacturing and other "market-based" sectors. Continued growth in other parts of the domestic economy was supported by policy stimulus.

China has weathered the crisis better than many other countries because it does not rely on external financing, its banks have been largely unscathed by the international financial turmoil, and it has the fiscal and macroeconomic space to implement forceful stimulus measures. China’s government has made use of this policy space by pursuing pretty forceful fiscal and monetary stimulus. From early November last year onwards, the government's 10-point plan ("RMB 4 trillion package") is being implemented. This plan emphasizes infrastructure and other investment, financed in part by government budget spending, and in part by bank lending. And the government has taken some additional, more consumption-oriented measures.

Underrated Indonesia poised to enter global stage

Wolfgang Fengler's picture

Indonesia is still underrated globally. Why does the world not notice? One reason is particularly poor performance in sports and higher education, two areas that give countries a lot of international exposure.

Is 'brain drain' a thing of the past?

James I Davison's picture

Lately, I’ve noticed several bloggers and news sites have picked up on an interesting trend migration trend that many have dubbed "reverse brain drain" – the return of skilled immigrants to their home countries. With rising unemployment and an often-difficult U.S. immigration process, the notion of looking back at home for work has reportedly appealed to foreign nationals working in the United States for technology, finance and other industries.

World Bank economist Sonia Plaza writes on the People Move blog about the shift in terminology over the years caused by new trends.

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