For many years, financial globalization has been promoted as a vehicle to raise living standards throughout the world, particularly in developing countries. However, a mounting body of empirical literature shows that in practice the effects of financial globalization have been overall mixed; financial globalization has only brought limited positive effects while it has also increased risks.
This April, I had the honor of delivering a TED Talk in Vancouver, Canada. TED Talks aim to inspire and spread ideas, and this year’s theme – The Future Us – explored what lies ahead for the world.
Artificial intelligence, robotics, and other technological advances hold great promise, but these changes are coming at break-neck speed. I’m afraid many of us aren’t ready. There’s still too much poverty and inequality in the world, and we have a lot of work to provide opportunities for everyone.
"The world has been transformed by the globalization of goods, services, and information, all of which have produced their share of pain and rejection. But we are now witnessing the globalization of people, and public reaction to that is stronger, more visceral, and more emotional."
- Fareed Zakaria - host of CNN's international affairs program Fareed Zakaria GPS.
Quoted in Foreign Affairs print edition November/December 2016 "Populism on the March."
Our Top Ten blog posts by readership in 2016. This post was originally published on June 17, 2016.
Our Green Competitiveness Launchpad team is looking at agriculture supply chains in Bangladesh and how they’re affected by climate change – as farmers change the crops they plant owing to drought or flooding. As a result, we’ve been exploring the supply chains of a number of crops from guavas to sunflower and mung beans.
There’s a fascinating infographic from CIAT (International Center for Tropical Agriculture) that illustrates the geographical diversity of the common foods we eat every day. It shows that the globalization of food began centuries ago. Many cultures incorporate foods that originated thousands of miles away. For example, sunflower originated in North America and is now widely produced in Eastern Europe, and guava originated in Central America and is now mainly produced in South Asia.
The Practice and Craft of Multistakeholder Governance: The case of global internet policymaking
Global Partners Digital
In recent years, multistakeholderism has become something of a catchphrase in discussions of Internet governance. This follows decades of attempts to identify a system of governance that would be sufficiently flexible, yet at the same time effective enough to manage the decentralized, non-hierarchical global network that is today used by more than 3 billion people. […]In this paper, we contribute to this ongoing discussion by examining current and actual instances of governance and governance bodies that at least approximate the ideal of multistakeholderism. Part I, below, examines seven institutions and fora that serve as real-world examples of multistakeholder governance on the Internet. In Part II, we assess these examples to present a number of lessons learned and more general reflections that can help us better understand the state of—and prospects for—multistakeholder governance of the Internet today.
Facts We Can Believe In: How to make fact-checking better
New media and the information revolution have not only empowered access to information but also fuelled the spread of disinformation. Such is the scale of the problem that the World Economic Forum has defined misinformation as one of the world’s most urgent problems. Corrupt, neo-authoritarian rulers have become skilled at using disinformation to confuse their opposition, break down trust and fracture civil society. Increasingly, disinformation is used as a weapon by closed societies to attack more open ones. Inside democracies whole segments of society are pulled into alternative realities which are manipulated by violent extremists and dominated by conspiracy theories. Some commentators have even speculated that we are entering a “post-fact” age where political candidates reinvent reality on a whim. This poses a serious danger to deliberative democracy and good governance: if we cannot agree on the facts, debate and decision-making break down.
These are some of the views and reports relevant to our readers that caught our attention this week.
Global Governance Monitor
The Internet has revolutionized communication and radically altered the conduct of business, politics, and personal lives. Information is now widely available and shared through instant message, email, and social media. Businesses can operate internationally with virtually no delay, enabling previously unimaginable opportunities such as providing medical advice across oceans. Moreover, the embedding of sensors, processors, and monitors in everyday products links the physical and virtual worlds, expanding vast streams of data and creating new markets. The Internet has also altered the relationship between governments and societies. Low-cost, nearly ubiquitous communication platforms allow citizens to mobilize and build transnational networks. The speed of communication can make governments more accountable, and open-data initiatives enable the participation of nongovernmental organizations and increased transparency. Though the technology has facilitated unprecedented economic growth, increased access to information, and delivered innovative solutions to historic challenges, the expansion of the Internet has also brought challenges and vulnerabilities.
The 2016 Brookings Financial and Digital Inclusion Project Report, Advancing equitable financial ecosystems
The 2016 Brookings Financial and Digital Inclusion Project (FDIP) evaluates access to and usage of affordable financial services by underserved people across 26 geographically, politically, and economically diverse countries. The 2016 report assesses these countries’ financial inclusion ecosystems based on four dimensions of financial inclusion: country commitment, mobile capacity, regulatory environment, and adoption of selected traditional and digital financial services. The 2016 report builds upon the first annual FDIP report, published in August 2015. The 2016 report analyzes key changes in the global financial inclusion landscape over the previous year, broadens its scope by adding five new countries to the study, and provides recommendations aimed at advancing financial inclusion among marginalized groups, such as women, migrants, refugees, and youth.