News and Analysis: 26-30 Oct 09 | EmergingFrontierMarkets.com

Based in: Manila, Philippines

Posted on Fri, 30 Oct 09:

Honduran rivals agree a deal to end crisis: Honduras' de facto govt has accepted a US-driven deal that opens the door for the return to power of Pres Zelaya, toppled in a military coup 4 mths ago. With the deal, Zelaya could return to office after a vote in Congress that would be authorized by the nation's Supreme Court. It would require both sides to recognize the result of a 29 Nov pres'l election. If approved, Zelaya would be able to finish out his pres'l term, which ends in Jan, Reuters (courtesy Malaysian Star), 30 Oct 09

Sweden ranks 1st in 'commitment to development' index, as G7 nations fare poorly: In a ranking of wealthy nations' policies benefiting the developing world, Sweden is followed by Denmark, Netherlands and Norway (tied at no.3), and New Zealand. The index ranks 22 of the world's richest countries on their dedication to policies that benefit the 5 billion people living in poorer nations, Ctr Global Development, 22 Oct 09

Development specialist roasts sacred cows on all sides of global food issue: Columbia U's Jeffrey Sachs isn't afraid to criticize the ethanol industry, local food production and the entire food industry. He points out that not only are 1 billion people on the planet chronically hungry, another 2 bln suffer from many types of malnutrition. He offers a list of 10 solutions to these daunting challenges, AgricOnline, 19 Oct 09 (EarthSky--Trying to feed 9 bln people by 2050)

Posted on Thu, 29 Oct 09:

UN re-evaluates Afghan mission: Traumatized UN staff in Afghanistan were under orders to stay home today, a day after Taliban militants stormed a guest house in the capital and killed 5 foreign UN staff and 3 Afghans in a brazen attack that is forcing the world body to re-evaluate its mission. The attack, which killed UN staff from Ethiopia, Ghana, Liberia, Philippines and US, underscored the risks facing UN and Afghan officials in organizing a run-off election following the fraud-marred 1st-round vote, AP (courtesy News24/SAfrica), 29 Oct 09

Asia recovering rapidly, but faces challenges: In a Regional Economic Outlook released today, Asia's growth is forecast to accelerate to 5¾ % in '10 from 2¾ % in '09, both higher than previously projected. It has rebounded fast from the depth of the global crisis. Initially, it was hit extremely hard, with output in most nations shrinking by much more than even those nations at the epicenter of the crisis. But starting in Feb '09, Asia's economy began to revive. Exports and industrial production have increased again, financial pressures have eased, and confidence has largely been restored. Yet the recovery poses challenges to policymakers, IMF Survey Mag, 29 Oct 09

Joined-up 'development' thinking: Joined-up thinking has become a valuable business mgmt mantra. It's now being put to work for EU policy in the 1st-ever European Report on Development. Described as the 'toughest development challenge of our era', the report focuses on overcoming fragility in Africa. As nations become more resilient, they are inherently less fragile. More stable countries are generally more resilient to shocks like a global economic crisis, natural disaster or regional conflict, events that might otherwise make them more fragile.
But putting together a set of coherent policies to help Africa overcome its 'fragility' is a more tricky prospect, European University Institute, 22 Oct 09 [pdf]

Posted on Wed, 28 Oct 09:

Joseph Stiglitz: Death cometh for the greenback--In this article, I try to explain why the dollar is in trouble, but ask - should we care? What are the consequences? I will suggest that, for the most part, it is probably a good thing. But the adjustment to a lower value will not necessarily come easily. One of the consequences - already under way - is the fraying of the dollar-reserve system. I argue that a move to a global reserve system would be good for the US, and good for the world, says Nobel Laureate '01, National Interest, Nov-Dec '09

Iceland tops the global gender gap index: Iceland has claimed the top spot of the Global Gender Gap Index from Norway, which slipped to no.3 behind Finland. Sweden completes the Nordic nations' continued dominance of the top 4. SAfrica and Lesotho made great strides in closing their gender gaps to enter the top 10 for the 1st time. The index assesses 115 nations on how well they are dividing their resources and opportunities among men and women, regardless of the overall levels of these resources and opportunities, World Economic Forum, 27 Oct 09 (Report)

Progress in progress: Is life getting better? Are our societies getting better? Does measuring progress matter? And if so, how should we measure progress? For a good portion of the 20th century there was an implicit assumption that economic growth was synonymous with progress: an assumption that a growing Gross Domestic Product (GDP) meant life must be getting better. But now the world recognizes that it isn't quite as simple as that, OECD World Forum, 27 Oct 09

Posted on Tue, 27 Oct 09:

Israel curbing water to Palestinians, Amnesty Intl says: Human rights group Amnesty Intl said in a report published today that Israeli restrictions prevented Palestinians from receiving enough water in the West Bank and Gaza Strip. The report said Israel's daily water consumption per capita was 4 times higher than that in the Palestinian territories, Haaretz/Israel, 27 Oct 09 (Jerusalem Post -- Water Authority blasts Amnesty on report | Israelis get 4 times more water than Palestinians, World Bank says | Bank's assessment of restrictions on Palestinian water sector devt)

Latest survey shows London and NY still ahead as Asian financial centers do well: Hong Kong and Singapore both saw their ratings increase and have closed on London and NY (which retain 1st and 2nd positions respectively). The study, the 6th of its kind sponsored by the City of London and produced by Z/Yen Group, suggests that a group of 4 'global' centers have now emerged ahead of the rest, City of Lond Corp., 22 Sep 09

Posted on Mon, 26 Oct 09:

SKorean economy grows but still at risk: SKorea's economy surprisingly grew at its fastest pace for more than 7 yrs in the 3rd qtr, largely on the back of robust exports and massive gov't-led stimulus packages. But analysts warn the economy could lose steam again later this yr because the 3rd-qtr growth was largely driven by aggressive fiscal spending and wide tax benefits, with private spending remaining sluggish, UPI, 26 Oct 09

Mohamed El-Erian: The two-stage de-risking of banks -- The first stage of de-risking of the banking sector was led by the markets. With the market-induced contraction of the sector over-shooting, the highly disruptive implications for employment and economic activity forced policymakers into a "WIT" mindset – doing "whatever it takes" to stabilize the sector. The massive policy reaction succeeded in stabilizing the banking system. The question is whether this is the end of the story, notes global investment mgmt co. CEO and co-CIO, FT (courtesy Pimco), 22 Oct 09

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