News and Analysis: 3-14 Nov 2014 | EmergingFrontierMarkets.com

Based in: Manila, Philippines

Posted on Fri, 14 Nov 14:

India-US deal could lead to global trade deal within 2 weeks - WTO, Press Trust of India, 14 Nov 14:
A day after a breakthrough deal between India and the US on food security-related issues, the WTO director-general told reporters on the eve of the G20 summit in Australia that there was a 'high probability' of reaching an agreement within 2 weeks on the stalled Bali package to facilitate easier global trade flows

Catherine Mann: Raising global growth - Why the G20 is 'going structural', OECD Observer, 3rd qtr '14:
With the G20 nations accounting for close to 90% of global GDP, further progress on their part in lifting growth and setting forth a sustainable recovery matters for us all. The challenge is to pursue structural reforms to raise growth and create jobs in a sustainable and inclusive way. Will their commitments be enough?, asks OECD's new chief economist

Sachs: The climate breakthrough in Beijing gives the world a fighting chance, FT, 12 Nov 14 [PDF, via Columbia U]:
The US-China joint announcement on climate change and energy is the most important advance on the climate change agenda in many years. While the full ramifications will only be known at the climate summit in Paris in Dec '15, the 2 largest C02 emitters have finally spoken, and most importantly, they've spoken together, writes special adviser to UN sec-gen / Columbia U Earth Inst dir

Posted on Wed, 12 Nov 14:

El-Erian: What the dollar's rise means for the global economy, Project Syndicate, 11 Nov 14 [via WEForum (blog)]:
In the last 4 months alone, the US dollar has soared by more than 7% compared with a basket of more than a dozen global currencies. This dollar rally, the result of genuine econ progress and divergent policy developments, could contribute to the 'rebalancing' that has long eluded the world economy. But that outcome is far from guaranteed, writes Pres Obama's Global Dev't Council chair

Global econ system continues to show cracks, nations not doing enough to support it, Ctr Int'l Gov Innov, 10 Nov 14:
The 2014 Survey of Progress in Int'l Economic Governance of leading experts shows that there are substantial concerns about the fragile global econ recovery. These concerns are primarily driven by uneven growth throughout the world. The annual survey tracks progress made by the G20 and other int'l institutions and the broader int'l community. in strengthening int'l cooperation

Three paths to sustained economic growth in Southeast Asia, Mckinsey, Nov '14:
The region has enjoyed remarkable econ progress in recent years; millions have been lifted out of poverty. But much of its recent growth has been generated by an expanding labor force and the shift of workers from agriculture to manufacturing. These factors will eventually fade. By capitalizing on 3 global trends, Southeast Asia could increase productivity and create billions in econ value

Posted on Mon, 10 Nov 14:

Obama heads to Asia for Apec, Asean, EAS and the G-20, Brookings Inst (blog), by M Sapiro, 7 Nov 14:
Pres Obama departs for a long-awaited trip to Asia, packing in 4 summits and a state visit to China. The 1st stop will be the Asia-Pacific Economic Cooperation summit in China, the next will include the Association of Southeast Asian Nations summit and the East Asia Summit in Burma, and the final stop will be the G-20 summit in Australia, writes fmr deputy US Trade Rep

As US and China meet at APEC summit, a drama involving billions in trade, CSMonitor, 7 Nov 14:
Pres Obama and other world leaders arrive in Beijing Mon for the Asia Pacific Economic Cooperation annual summit, which is known mostly for cuddly group photos of world leaders in native costumes. But this year China and the US are quietly duking it out. Here's a briefing on key questions surrounding the conference, which is marking its 25th birthday

Lawrence Summers: We play with fire if we skimp on public health, FT, 10 Nov 14 [via author's site]:
Epidemics and pandemics are like earthquakes. Tragic, inevitable and unpredictable. It starts as a random event. A virus jumps species from a bird, bat, or other animal to 'Patient Zero' - who passes it on to other human beings. No part of the world can insulate itself from the consequences of pandemics, writes Pres Obama's Nat'l Econ Council fmr dir / Global Health 2035 commission co-chair

Posted on Fri, 7 Nov 14:

Typhoon Haiyan - One year on and 1 million people still living in dangerous conditions, Oxfam, 8 Nov 14:
In a new report, Oxfam said that significant progress had been made in the aftermath of the typhoon. However, the Philippine gov't now needs to show leadership in the relocation process for families. A year after Haiyan struck, nearly 1 million people made homeless are still living in makeshift shelters and are dangerously exposed to future typhoons

Michael Boskin: Avoiding the global slowdown blues, Wall Street Journal, 27 Oct 14 [via Hoover Inst]:
A new direction after the midterm elections may be possible. Examples of pro-growth policy reforms enacted by divided gov't include Pres Reagan's '86 tax reform; Pres George H.W. Bush's fast track to Nafta and the Uruguay Round of multilateral trade negotiations; and Pres Clinton's balanced budgets and welfare reform, writes Pres G H W Bush's Council Econ Advisers chair / Stanford prof

'Local dynamos' highlight success of homegrown emerging-market companies, Boston Consult. Group, 10 July 14:
The 2014 Local Dynamos are a group of 50 companies based in emerging markets that have succeeded by staying home and beating both multinationals and local, often state-owned firms. Five examples illustrate the successes of the larger group: China's Xiaomi, Turkey's BIM, S Africa's Discovery Health, Mexico's Banco Mercantil del Norte, and India's Shiram

Posted on Wed, 5 Nov 14:

Republican gains could aid Obama's Asia trade pact, AP, 2 Nov 14:
Big Republican gains on election day would be a blow to much of Pres Obama's agenda, but one stymied item on his to-do list might get a fresh chance to move forward: trade. That could breathe life into Asia-Pacific trade talks. Obama needs special authority, known as fast track, to negotiate trade deals that Congress can accept or reject, but cannot change

Jeffrey Sachs: Why both sides of the economic debate are wrong, Proj Synd, 27 Oct 14 [PDF, via Columbia U]:
I am a macroeconomist, but I dissent from the profession's 2 leading camps in the US: the neo-Keynesians, who focus on boosting aggregate demand, and the supply-siders, who focus on cutting taxes. Both schools have been tried and failed. It is time for a new strategy, writes special adviser to UN sec-gen / Columbia U Earth Inst dir

Globalization is recovering from financial crisis - report, Global Connectedness Index, 3 Nov 14:
The latest (3rd) edition of the report shows that global connectedness, measured by cross-border flows of trade, capital, information and people, has recovered most of its losses incurred during the financial crisis. The report was commissioned by a global logistics firm, and prepared by Pankaj Ghemawat (NYU and IESE Biz School/Spain) and Steven Altman (IESE)

Posted on Mon, 3 Nov 14:

Thirty percent of world's food wasted, new online platform seeks savings, Reuters AlertNet, 30 Oct 14:
Enough food to feed 2 billion people is wasted every year, leading UN agencies to create a new interactive platform to try to reduce the losses, which could easily feed the world's 800 million hungry. The 'Global Community of Practice of Food Loss Reduction' web portal, launched last week, allows users to get information about ways of reducing waste

Edward Lazear: Government forecasters might as well use a ouija board, WSJ, 16 Oct 14 [via Hoover Inst]:
The Congressional Budget Office and a group simply known as 'Troika'--the admin's Council of Economic Advisers, Office of Management and Budget and Treasury Dept--put out annual econ forecasts. Troika is associated with a presidential admin, while the CBO is generally regarded as a nonpartisan agency that serves Congress, writes Pres G W Bush's Council Econ Advisers chair / Stanford prof

Paul Krugman: In defense of Obama, RollingStone, 8 Oct 14:
When it comes to Obama, I've always been out of sync. Back in '08, when many liberals were wildly enthusiastic about his candidacy, I was skeptical. But no pres gets to do everything his supporters expected him to. I don't care about the fact that he hasn't lived up to the golden dreams of '08. I do care that he has, when all is said and done, achieved a lot, writes Nobel Prize Laureate '08 / NY Times columnist

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