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June 2013

Smartly Tapping Global Markets: A Driver for the Rise of the South

Cara Santos Pianesi's picture

We’ve become accustomed to talk about the rise of the “global South” in business and economic circles—as these past several years have seen developing countries (mostly BRICs, but also others) surging economically while the global North has retrenched.  I’ve discussed in this blog space how outbound investment from developing countries is one indicator that we can point to confirm this trend.

The UN Development Program (UNDP) recently released its annual Human Development Report that takes as its theme the rise of the global South. I attended the Washington launch of the
report which was held, for the first time, at the World Bank. World Bank chief economist Kaushik Basu noted during the event it’s a welcome move. The World Bank and UNDP have much information, tactics, resources, and energy to share.

New challenges, new alliances

Jose Carlos Villena Perez's picture

Multilateral organizations and Southern Europe can do more to cooperate to restore these countries’ global competitiveness

One of the lessons learned from the past few years is that economic development processes are reversible. The once-bright southern Europe economies are languishing today, wrapped in a slow and painful process of adjustment aimed at restructuring their productive sectors and enter once and for all into the 21st century economy.

It’s clear that these countries’ recovery will not be achieved simply with reforming their administrative and regulatory frameworks. Perhaps one of the most complex issues that Italy, Portugal, and Spain are currently dealing with is the interruption of credit flows to the real economy. This interruption is doing considerable harm to the countries of southern Europe; the credit shortage is affecting their competitiveness and jeopardizing any possible hint of improvement, putting the overall global economic recovery at risk.