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In a little-noticed mid-summer announcement, the Asian Development Bank presented official survey results indicating China's economy is smaller and poorer than established estimates say. The announcement cited the first authoritative measure of China's size using purchasing power parity methods. The results tell us that when the World Bank announces its expected PPP data revisions later this year, China's economy will turn out to be 40 per cent smaller than previously stated.
Rafiq Dossani, Senior Research Scholar at the Shorenstein Asia-Pacific Research Center of Stanford University, acknowleged that by the measure of economic growth and international prestige, India is unquestionably “arriving” as a major global power. But when one considers other indicators—such as India’s non-market sector, widespread poverty, and social democracy—India’s arrival is not so obvious.
In a speech at the Carnegie Endowment, European Commissioner for Trade Peter Mandelson argued that the European Union and the United States must use their collective economic weight to underwrite the openness of the global economy as it adjusts to the rise of new economic powers and greater global flows of investment.
It's become a cliché that globalization has brought both pain and gain. But in the general painting of the dark side of globalization, one aspect is frequently ignored: intensified trade and travel have enabled the rise of corrupt states that thrive on illegal businesses. Only by changing the rules of the global trade that allowed corrupt states to grow can this blot on globalization be removed.
Asia’s resurgence is revolutionary; Asia will contribute 43% of world GDP by 2020, is the second global hub of innovation, and has amassed a tremendous amount of military power. But the resurgence is also incomplete. Large swaths remain outside of Asia’s economic “miracle,” political systems remain at various stages of development, and Asian nations face many religious and ideological challenges.
The Carnegie Endowment hosted a discussion with Kevin Gallagher of his new book, The Enclave Economy: Foreign Investment and Sustainable Development in Mexico’s Silicon Valley, on October 26, 2007.
Economic reform measures in the region have had many flaws. Nowhere have they been part of a comprehensive economic plan that coordinated with social policies and different economic sectors. Nowhere have they been sustained. The reform process suffers from lack of consensus around the meaning and ramifications of reform among key national stakeholders.
Carnegie Senior Associate Albert Keidel of the China Program presented his latest policy brief "China's Looming Crisis-Inflation Returns." Moderated and discussed by Nick Lardy from the Peterson Institute and Pieter Bottelier from Johns Hopkins University.
Recent economic growth and stabilization in Egypt has been largely fueled by external factors which may not be sustainable. During the same period, Egypt has failed to address pressing social and economic challenges, according to a new paper from the Carnegie Endowment.
International conference, co-organized by the Carnegie Endowment for International Peace and the Wolfensohn Center for Development at the Brookings Institution, in partnership with the Asian Development Bank and the Central Asia Regional Economic Cooperation Program (CAREC)
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