Find a good longread on development? Tweet it to @worldbank with the hashtag #longreads.
China’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
Financial Markets…Global stock markets rallied on Friday, with the benchmark MSCI world equity index hitting a 20-month high level of 552.16, as positive economic data from the two world’s largest economies boosted market sentiment. Along with robust U.S. labor and housing market reports, China’s better-than-expected fourth-quarter GDP growth (y/y), buoyant industrial production and retail sales figures added to signs that the global economic recovery is gaining traction.
Financial Markets…U.S. Treasuries slid for the first time in four days, with the benchmark note yields 3 basis points to 1.62%, as a government report showed U.S. employers added more than forecasted jobs in November. U.S government bonds have advanced 2.8% this year as of yesterday, after gaining 9.8% in 2011 and 5.9% in 2010.
Financial Markets…Year-to-date global corporate bond sales rose to $3.43 trillion, already surpassing 2011’s full year total of $3.29 trillion, as further stimulus from global central banks pushed yields to record lows. Funding costs for the riskiest to the most creditworthy corporates are plunging as the persistent low-yield environment spurred unprecedented investor demand.
Only a very short time ago, we were drawing blank looks when we mentioned "natural capital accounting." This week at Rio, everyone is talking about it. Walls are plastered with flyers about it. And our event on it yesterday drew such a crowd it was standing-room only.
With three presidents, two prime ministers, one deputy prime minister, a host of ministers, top corporate leaders and civil society groups in the room, we announced that the 50:50 campaign to get at least 50 countries and 50 companies to commit to acting on natural capital accounting was a success. The latest tally: 59 countries, 88 private companies, 1 region, and 16 civil society groups signing on to the Gaborone Declaration, recommitting to other natural capital initiatives, or agreeing to join forces with this movement.
In most cases, in most places -- at least in most so-called 'developing countries' -- the use of computers and other ICTs in schools is in practice focused largely on the development of what is commonly referred to or understood as 'ICT or computer literacy'. In fact, in many low and even middle income countries, professed needs to develop 'market-relevant' things like keyboarding skills, a basic understanding of how to navigate computer GUIs and operating systems and a general facility with standard office applications inform some of the primary justifications for the roll-out of computers in schools.
In some such places (case #1), once you have become 'proficient' in using (e.g.) a word processor, the promotion of the development of 'ICT-related skills' stops. (You are now 'computer literate': Time to move along!)
In other places (case #2), there is no shortage of lofty rhetoric around the need to develop '21st century skills' through the use (in part) of ICTs, but if you look at how the equipment is actually being utilized, the reality of ICT use in case #2 is not terribly different in practice than what one sees in the first case.
That said, some people think that way basic ICT literacy is being promoted within many 'digital divide' initiatives in the education sector may over time actually impede progress toward the development of higher order ICT-related skills. This points to a phenomenon associated with the so-called 'Second Digital Divide' (related EduTech blog post), which (in the words of the OECD) "separates those with the competencies and skills to benefit from computer use from those without". For such people, a focus on developing only basic ICT literacy,