Global slowdown hits developing countries
By Martin Khor
Developing countries are increasingly being adversely affected by the economic recession in Europe and the slowdown in the United States.
The hope that major emerging economies like China, India and Brazil would continue to have robust growth, de-coupling from Western economies and becoming an alternative engine of global growth has been dashed by recent data showing that they are themselves weakening.
What Explains the South’s Recent High Growth — And Can It Continue?
By Yilmaz Akyüz
Recently there emerged a view that developing countries had “de-coupled” their economies from the developed countries and had taken off to a path of high growth. But this is an overly-optimistic view. This article by the South Centre’s Chief Economist examines the growth record of developing countries and analyses how the good performance was based mainly on external factors that no longer exist. The next issue of SouthViews will have a follow-up article on the need for a new development strategy in the South.
Re-making Financial Policy to Meet Society’s Needs
By Yaga Venugopal Reddy
The financial sector has been hit by major crises and scandals, to the point that its credibility with the public has fallen to historically low levels. A re- thinking and re-making of financial policies and the role of financial institutions is thus urgently needed. This was the theme of a lecture presented by the distinguished former Governor of the Reserve Bank of India, Yaga Venugopal Reddy, which was made in conjuncture with the 2012 Annual General Meeting of the Bank for International Settlements held in Basel, Switzerland. The 2012 Per Jacobsson Foundation Lecture by Mr Reddy, made on 24 June 2012, covered three main themes: (1) Society and Finance, (2) Economic Policies and the Financial Sector, and (3) Regulation of the Financial Sector.
Below is the first part of the lecture, on Society and Finance. Future issues of SouthViews will publish the other two parts of the lecture.
New Blow to Banking System
By Martin Khor
The still-developing LIBOR scandal is the latest and biggest blow to the credibility of big banks and their regulators, and should catalyse broad-ranging reforms to the financial system.
The EPAs and Risks for Africa: Local Production and Regional Trade.
One of the main contentious issues in the Economic Partnership Agreements (EPAs) between the EU and African countries is the level of trade liberalization which Europe is asking for. This issue is certainly one of the most critical for Africa. (more…)
WTO’s MC8: Some Critical Issues for Developing Countries.
This Analytical Note provides an overview of the following: issues at stake in MC8 for developing countries and key messages for Ministers; the state of play including the main events that took place in the production of the ‘Elements for Political Guidance’ text; the legal status of the Chairman’s Statement as the outcome document of the Ministerial; (more…)
Economic Partnership Agreements in Africa: A Benefit-Cost Analysis.
This study provides a simple cost-benefit analysis of the Economic Partnership Agreements (EPAs) between African countries and the European Union. It compares the costs of signing an EPA – measured as tariff revenue losses, versus the “gains” of signing an EPA – measured as (more…)
Analysis Of Draft Waiver Decision On Services And Services Suppliers Of LDCs.
This Note is an analysis of the draft waiver decision submitted by the Chairman of the CTS to Ministers for adoption at the 8th Ministerial Conference. This is essentially a waiver from the most-favoured nation treatment clause (Article II. 1) in GATS to allow Members to provide preferential and more favourable treatment to services and services suppliers of LDCs. (more…)
LDC Package: State of Play and Proposed Language for WTO’s MC8.
The LDC Package was proposed by the WTO Director General, in his capacity as Trade Negotiations Committee (TNC) Chair in May 2011 for early harvesting at the Eighth Ministerial Conference (MC8) in December 2011. Since then, these negotiations have run into problems due to the resistance of the United States. (more…)
Special and Differential Treatment Negotiations: State of Play and Proposed Language for WTO’s MC8.
There has been some but not a significant amount of progress made on the Special and Differential Treatment negotiations mandated in the Doha Declaration (para 44) for developing countries. This paper provides an overview of: (more…)
Trade Facilitation State of Play and Implications of an ‘Early Harvest’ on Developing Countries.
Recently there has been an indication that some WTO members (especially developed countries) are proposing that an agreement on Trade Facilitation be one of the items to be an Early Harvest in the Doha negotiations in the WTO. (more…)
Present Situation of the WTO Doha Talks and Comments on the 21 April 2011 Documents.
Although Doha started as a “Development Agenda” with a pledge that developing countries‟ interests would be at the centre, ironically there is hardly any development content left in the Doha elements. The WTO released on 21 April 2011, a 600-page package providing an overview of the last 10 years of Doha negotiations. The following papers provide analysis of this overall package. (more…)
