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Battle hots up to curb ‘vulture funds’
Many countries are facing a worsening debt situation, and thus feel urgency to curb ‘vulture funds’ and to set up a global debt restructuring mechanism. Recent resolutions adopted by the UN Human Rights Council and the UN General Assembly are moving this process forward but the battle (more...)North’s policies affecting South’s economies
Dr. Yilmaz Akyuz, chief economist of the South Centre, delivered the keynote speech of the first session. Dr. Yilmaz Akyuz commenced his keynote presentation by noting that, since the onset of the crisis, the South Centre has argued that policy responses to the crisis by the EU (more...)Developing countries facing new economic problems
New economic problems are confronting several developing countries which faced sharp currency depreciation and capital outflows at the start of 2014. These are caused by the boom-bust cycles in capital flows originating in profit-seeking investor behaviour in developed countries. (more...)Turbulence in Emerging Economies: From Easy Money to Hard Landing?
Urgent steps are needed to deal with an economic crisis in the emerging economies that South Centre had warned of earlier.By Yılmaz Akyüz, Chief Economist, South Centre Before the world economy has been able to fully recover from the crisis that (more...)
WTO food fight before and at the Bali Ministerial
The “food security” issue dominated the first several days of the WTO’s Bali Ministerial conference. This article gives the background to the “food fight” at the WTO.By Martin Khor Before and at the WTO’s Bali Ministerial Conference, (more...)
Pot Calling the Kettle Black!
A fight taking place in the WTO shows how the rules on agriculture allow rich countries to continue huge subsidies whilst penalising developing countries’ farmers.By Martin Khor Food is one of the most important and emotive of all issues. As (more...)
New Threat to Economic Role of the State
The economically successful developing countries like Malaysia are characterised as having a strong “developmental state”. But this role of the state is coming under attack in new global rules being created.By Martin Khor Two new trade (more...)
The Eurozone Crisis: Wrong diagnosis, harmful recipes
While the US recovery has been held back by inadequate policy measures, in the Eurozone (EZ) the policy response has been premised on a wrong diagnosis, thereby deepening the recession. The EZ periphery is, in effect, facing a balance-of-payments-cum-external-debt crisis resulting from excessive (more...)The US Crisis: Bailouts, Debt Overhang & Fiscal Drag
The US intervention in the sub-prime crisis has taken two main forms. First, through its $700 billion Trouble Asset Relief Programme (TARP) of 2008-09, the Treasury injected capital into banks whose net worth was moving into red as a result of loss of asset values as well as some large (more...)The man who saved millions with cheap medicines
His rivals called him a “pirate” but grateful millions whose lives were saved by his cheap generic medicines consider him a Robin Hood---Yusuf Hamied, leader of India’s giant company, Cipla.I spent a day with a giant of a man who arguably has done more than (more...)
Serious threat to Asian Economic Model: proposals to curb State-owned Enterprises through trade agreement
The successful East Asian model of “state-driven capitalism” is being threatened by proposals in the TPPA trade agreement to remove possible advantages of state-owned enterprises.By Martin Khor Many articles and books have been published on the (more...)