The causes and effects of climate change are better known today than ever before.
South Sudan became the world’s newest nation on 9 July 2011, making it Africa’s 54th country. Independence brings enormous opportunities to South Sudan to increase its integration into the regional economy but also substantial challenges to put in place a policy and security regime that facilitates cross-border trade. The 2005 peace accord that ended Africa's longest-running civil war has led to a significant growth in demand in South Sudan, ushering in a new era of increased regional trade, in particular, with Uganda.
The global economic crisis uncovered many of the vulnerabilities of an increasingly integrated world. So much so, that even though we are now well on the path to recovery, many questions persist regarding the future risks of economic integration and openness.
There are reasons for a broad reassessment of economic integration.
The world of presumed stable monetary and financial conditions was severely shaken by the recent global financial crisis.
The recent crisis dramatically illustrated how trade can be a powerful channel through which major external shocks are transmitted to countries, both negative and positive, as the resurgence in trade has been very robust and been a central feature of the global economic recovery.
The protests that swept through the Middle East and North Africa over the past six months have shown us what people will do to have their voices heard.
Remittances, or the money migrant workers send home to their countries of origin, are finally recovering to pre-crisis levels. In 2010, remittance flows to developing countries reached $325 billion, and they are poised to continue growing sustainably through 2013, according to the World Bank’s latest Outlook for Remittance Flows 2011-13.
It’s no secret that current account imbalances exist around the world. In many cases, these imbalances may be benign and merely reflect market-driven differences in savings and investment or differences in stages of development. In other cases, persistent global imbalances may be unsustainable and may threaten growth in the long-run. Thus, it’s no surprise that addressing imbalances has been a key focus in recent G-20 discussions.
Istanbul is now at the center of the development action.
Over the past three decades, global trade grew almost twice as fast as global gross domestic product (GDP). The massive process of commercial integration was made possible by technological revolutions in transport (like containerized shipping) and communications technologies, and by a dramatic decline in import tariffs. This allowed many developing countries to implement export-led growth strategies that lifted hundreds of millions of people out of poverty.