India on brink of Maoist offensive Nov 6, 2009
In their letter to Manmohan, the group of intellectuals pointed to recent research that showed that the levels of income and wealth inequality in India had increased steadily and drastically since the mid-1980s when India began a process of economic liberalization. "A rough overview of this growing inequality is found by juxtaposing two well-known facts, they said. One, "in 2004-05, 77% of the population spent less than 20 rupees [four US cents] a day on consumption expenditure. (Asia Times Online)
Freedom fighter Nov 6, 2009
" I had planned to review it, but it's almost 700 pages, and I have a day job. If I took the time to read it and then write about the whole thing, it would be weeks before I'd get it done -- and I think the book has insights that are supremely relevant to today. So I thought I'd try to blog my review, over several days, and ask for your help, if you're reading the book. Every few days I'll write about what I am learning, and anyone who's reading, or curious, can participate in comments. (We... (Salon)
China's sleepy Hengqin wakes up Nov 6, 2009
This kind of openness to foreigners has long been a staple of life in Hong Kong and Macau but, despite the last 30 years of economic liberalization in China, a lingering fear of foreign influence remains among Communist Party officials who ultimately make the decisions there. Hengqin will serve as a test for them, and the possible economic rewards may in the end trump their paranoia. (Asia Times Online)
CII chief mentor Tarun Das steps down Nov 4, 2009
But CIIs glory days under Mr Das began in the 1990s when he was quick to spot the opportunity afforded by the liberalization. While the then dominant industry chamber Ficci dilli dallied on the issue, CII became a cheer leader of the reforms process and worked closely with the government, increasing its profile and clout at the same time. (India Times)
Press Release: IMF Announces Staff Level Agreement with Seychelles on a 3-year Successor Arrangement Under the Extended Fund Facility Nov 3, 2009
Rapid progress has been made on restoring macroeconomic stability, the result of the liberalization of the exchange regime, strong fiscal adjustment, and prudent monetary policies. Program implementation has been exemplary, even in the face of strong head winds from the global recession. (IMF News)
Transcript of a Conference Call on the Completion of the First Review of Iceland’s Stand-By Arrangement with Mark Flanagan, Mission Chief for Iceland, and Franek Rozwadowski, Resident Representative in Iceland Nov 3, 2009
We'll be looking into a number of issues at this point in time, in particular: the implementation of the restructuring framework for private household and corporate debt, articulation of a medium-term public debt management plan, finalization of the budget in line with the medium-term consolidation plan that has been agreed to with social partners, and the first steps toward capital account liberalization ... We've done that through appropriate monetary policy measures and we have carefully, in... (IMF News)
Africa: Food for Thought on Food Security [guest column] Nov 3, 2009
Bad donor policies, such as forced liberalization of local markets and support for large-scale agricultural projects instead of small-scale community farmers, have also undermined African agriculture. But it s not just international donors that must pay attention. (allAfrica.com)
Syrian bonusesbring little change Nov 3, 2009
Hamash believes that the unrestricted liberalization of trade in Syria has had a negative impact on the economy. He said many local factories that were employing thousands of workers could not withstand competition from cheaper products and were forced to cut production or sometimes close completely, leading to waves of unemployment. (Asia Times Online)
Iceland Eases Capital Controls on New Investments After Meeting Deadlines Nov 2, 2009
The next phase of capital account liberalization -- the removal of restrictions on capital outflows -- will be determined by the success of this phase and the progress made under the macroeconomic program, Reykjavik-based Sedlabanki said in an Oct. 31 statement. The island imposed the restrictions at the end of last year after the failure of its largest banks prompted a sell-off of the krona and plunged the economy into the deepest decline in the western world since the onset of the credit... (Bloomberg -- Europe)
Pakistan safe for foreign investment: FM Nov 1, 2009
5 and 4 percent this year despite global downturn while consistent liberalization, deregulation, privatization, and facilitation were carried out to boost foreign investment. The D8 meeting is scheduled to be held on Nov. 2 to discuss the action plan of the Ten-Year Roadmap aimed at encouraging greater economic cooperation and resources mobilization between member states. (Xinhuanet, China)
Iceland to Remove Capital Controls on New Investments, Central Bank Says Nov 1, 2009
The conditions necessary for the initial stage in removing the controls, in accordance with the capital account liberalization strategy presented by the Bank on August 5, 2009, have now developed ... The next phase of capital account liberalization - the removal of restrictions on capital outflows - will be determined by the success of this phase and the progress made under the macroeconomic program, according to the statement. (Bloomberg -- Europe)
All together now Nov 1, 2009
There are some wonderful windows on policy triumph and disappointment: He depicts a stormy but funny meeting of Democratic senators to tell Clinton why they'll block any liberalization of policy on gays in the military. Robert Byrd leads off fulminating about the immorality of homosexuality, and Clinton tries to head him off by noting that adultery is immoral (ahem) but we don't dismiss military folks for cheating on their spouses. (Salon)
Petroleum Products Pricing In Ghana Economics Or Politics? Oct 30, 2009
Since the liberalization of the petroleum sector started, it has been the policy of government to cross-subsidize the products. It must be noted however that even though subsidies are distortionary, it cannot be avoided entirely in a developing country such as Ghana. (Ghana Web, Ghana)
* The summit of low expectations Oct 30, 2009
Based on their own experience over the past 30 years, the Chinese know how economic reform and liberalization can change a countrys perception of its self-interests and stance toward the world. Why not reach out to North Korea the way you are toward Iran and Myanmar, Hu may ask Obama. (Taipei Times, Taiwan -- World)
Press Release: IMF Completes First Review Under Stand-By Arrangement with Iceland, Extends Arrangement, and Approves US$167.5 Million Disbursement Oct 29, 2009
However, the stronger policies envisioned in the revised program, including more rapid fiscal adjustment, more gradual capital control liberalization, and an enhanced focus on private sector debt restructuring, should suffice to keep debt on a robust and sustainable downward path. The focus of monetary policy continues to be on preserving currency stability, within a flexible exchange rate regime, in light of the balance sheet exposures of the private sector. (IMF News)
Africa: Lack of Training, Finance Hinders Media, Says Sirleaf Oct 27, 2009
He said the media in Kenya has gone through a transition - from strictly government controlled to liberalization, but stressed the need for the media to exercise self-regulation or risk being regulated by Government. Relevant Links. (allAfrica.com)
The BNP's constituency can't be dismissed Oct 26, 2009
Migrants in Mumbai and surrounding cities After ;liberalization; of economy in India and consequent flood of funds, Mumbai and other Maharashtrian cities have borne the major brunt of explosive ;development; and unimaginable and unmanageable deluge of migrants. In Mumbai and neighboring cities, migrants have outnumbered the locals. (Sydney Morning Herald -- Opinion)
The Right Basis for Liberty Oct 24, 2009
This, to me, is a highly desirable end and the means of achieving it have little to do with persecuting entities such as the Catholic Church or the LDS. That Howley would praise the expansion of choice (and thereby the 'Factory Girl's' freedom to choose whether or not to remain embedded in the patriarchal culture of her village) that has resulted from the liberalization of the Chinese economy doesn't seem much like advocacy for an all-knowing, meddling nanny state. In fact, it seems like... (The American Conservative)
Nigeria: Uncertainty, Confusion Hit Fuel Market Ahead of Deregulation Oct 21, 2009
He flawed the method of engagement adopted in briefing players in the market about the future of the business, stressing that a consensus among the policy makers and the market players on how to transit from regulated pricing regime to commercial liberalization would have been a perfect approach. He made it clear that the massive imports by NNPC would further consolidate its domination of the market and enthrone state monopoly right from the inception of the deregulated market. (allAfrica.com)
Asian Currencies Set to Climb as Global Recovery Strengthens, Pimco Says Oct 20, 2009
We expect exchange-rate adjustment and liberalization to contribute to the rebalancing of that part of the world toward more domestic-led growth over the coming years. . (Bloomberg -- Asia)
Finance and Economic Growth, Remarks by First Deputy Managing Director John Lipsky Oct 20, 2009
And despite the doubts about financial liberalization that have found new life with the current crisis, financial repression also has proven consistently to represent another important impediment to strong, sustained and balanced growth. In my remarks today, I will review briefly current views about the role of finance in economic growth. (IMF News)
ECOWAS gets tough on EU Oct 20, 2009
Citing an instance, he said whilst Ghana has 15 years to liberalise 80% of its imports by 2022, liberalization in Kenya and other regions will not be complete until 2033. Ghana cannot sign the Interim Partnership Agreement (IEPA) as it stands now, without crucial changes, Mr Hormeku remarked. (Ghana Web, Ghana)
* US insists on services deal to endorse trade accord Oct 15, 2009
We know that the biggest gains to the global economy are likely to derive from multilateral services liberalization, but the offers on the table right now fail to deliver on that promise, US Trade Representative Ron Kirk said. We have said flat out that there will be no deal without a solid result on services which would result in new market opportunities, but we believe that a positive outcome is still achievable, he told an international conference on service industries in Washington. (Taipei Times, Taiwan -- World)
1 India to be World Tech Leader, Forbes Says Oct 14, 2009
"India should continue the liberalization that began in 1991, including simplifying the tax code and reducing tax rates, and allowing more overseas investments into India," he said. Related Articles. (Datamation)
'India to lead in tech services' Oct 12, 2009
"India should continue the liberalization that began in 1991, including simplifying the tax code and reducing tax rates, and allowing more overseas investments into India," he said. He said the bureaucratic procedures should be simplified to facilitate entrepreneurs. (India Times, India)
* An ECFA is just more disaster capitalism Oct 8, 2009
Although the Tiananmen crackdown was widely condemned by the western world, Chinese leader Deng Xiaoping (Hp) used the state of shock in its aftermath to deepen the process of economic liberalization and open the door to foreign investment ... Once its economic clout reached a certain level, China began plundering resources around the world in the name of trade liberalization ... Although the proposed Taiwan-China memorandum of understanding (MOU) on financial supervision will advance the... (Taipei Times, Taiwan -- World)
From G8 to G20, coexistence, co-op, competition are rules to play Oct 7, 2009
For the G20, he said, its focus will be financial stability, fiscal and monetary stimulus, financial regulation and supervision, and trade and investment liberalization -- all issues that the G8 abandoned any serious effort on years ago. The G8 has instead been working on African development, climate change, health, energy and education, as well as critical political security issues such as nuclear non-proliferation or encouraging the establishment of stable democracies, he said. (Xinhuanet, China)
The special thing about the Olympics Oct 6, 2009
Just two months later, China successfully concluded negotiations with the World Trade Organisation, formalising its commitment to trade liberalization ... The Tokyo games of 1964 coincided with Japanese entry into the IMF and the OECD. Barcelona was awarded the 1992 games in 1986, the same year Spain joined the EEC; the decision to award Korea the 1988 games coincided with Koreas political liberalization. (India Times)
* AmCham welcomes trade policy changes Oct 5, 2009
Wu was referring to Taiwans recent liberalization of imports from China by removing tableware from the banned list, the clarification of the scope of Taiwan-sourced income for income tax purposes and allowing the use of electronic invoices to help expedite express cargo shipments. The governments prohibition on imports of made-in-China porcelain and chinaese tableware and kitchenware has been one of the priority items of the AmCham Retail Committee for the past several years. (Taipei Times, Taiwan -- World Business)
* Market Wu keeps talking Oct 1, 2009
Zhao was removed from office just ahead of the bloody assault on the students and the campaign against dissent and liberalization. The reforms stalled. (Taipei Times, Taiwan -- World Business)
Ganbei, China! Sep 30, 2009
Emancipation of minds and liberalization of our rigid systems is always necessary. The year-long world financial crisis and subsequent economic downturn, rooting in American and the developed countries' regulators loosening oversight on bankers who got obsessed with excessive risky taking and profiteering, has now shed more of a light on China model. (People's Daily Online, China)
Press Release: IMF Team Concludes Article IV Consultation Mission to the State of Eritrea Sep 30, 2009
In the medium term, the focus should be on measures that promote external competitiveness; liberalization of the financial sector; removal of administrative bottlenecks; and promotion of private investment in the productive sectors. The mission believes that with the right set of reform policies and building on the country s rich human and mineral resource potential, Eritrea could be well placed to rebound as the world recession wanes. (IMF News)
* Transcending change with trust Sep 30, 2009
To enact legislation smoothly, the DPJ decided to form a coalition government with two minor parties: the pacifist Social Democratic Party (SDP) and the Peoples New Party (PNP), known for its skepticism of economic liberalization. The coalition is set to govern at least until the Upper House election in July. (Taipei Times, Taiwan -- World Business)
Ghana's bilateral trade relations Sep 30, 2009
Addressing a stakeholders' meeting in Accra, Mr. Appiah Donyina, Acting Director of Import and Export Division of Ministry of Trade and Industry, expressed worry that though the country currently enjoyed preferential access to most developed countries and regional markets under various trade liberalization schemes, most Ghanaian exporters were not aware of the benefits under the arrangements. He said trade arrangements such as the Generalized System of Preferences, Africa Growth and... (Ghana Web, Ghana)
Prez Mills' Speech To UN General Assembly Sep 25, 2009
For developing countries like Ghana a meaningful liberalization must be accompanied by predictable access to markets, eliminating abuse of anti-dumping measures and the reduction of tariffs and non-tariff barriers. Mr. President, In the face of all these developments, Africa acknowledges that our efforts at achieving sustainable, social and economic development depend essentially on our commitment to good governance. (Ghana Web, Ghana)
Group of 20 Must Push Free Trade, Carbon Caps, to Revive Growth, Rudd Says Sep 25, 2009
The Doha round refers to trade liberalization talks. To contact the reporter on this story: in Canberra at. (Bloomberg -- Australia & New Zealand)
Capital outflows cloud Malaysian outlook Sep 25, 2009
To counter that falling trend, the government in April announced a raft of liberalization measures for 27 service sector industries, including financial and insurance segments, which would be opened to foreign investment. In June, the so-called bumiputra equity requirement, where all companies by law must reserve 30% of their equity for ethnic Malays, was removed for newly listed companies. (Asia Times Online)
Government mitigates impact of global financial crisis Sep 25, 2009
President Mills reminded the Assembly that liberalization must be accompanied by predictable access to markets, eliminating abuse of anti-dumping measures and the reduction of tariff and non-tariff barriers. President Mills stressed commitment to good governance as basis to sustainable social and economic development and condemned the activities of a few leaders that threatened the gains of the continent of the last decade. (Ghana Web, Ghana)
Transcript of the IMF’s Press Briefing on World Economic Outlook: Anyaltic Chapters 3 and 4 Sep 23, 2009
We used a number of indices that have been put together on trade liberalization, capital account liberalization, government efficiency and a number of other indicators that were available for these countries, and what we find is that what has worked in some countries is not necessarily something that would work in other countries. That said, I think there are patterns that emerged which give a sense that, indeed, proceeding with structural reform is a good thing. (IMF News)
The Effects of Globalization on the Ghanaian Child Sep 22, 2009
If we continue to teach our children what I call the chicken-and-chips" culture, we are going to end up with children who do not eat local dishes, and therefore cannot even pound fufu or cook kenkey, but will be quick to run to the fast-food joint for some chicken and chips. Parents are making excuses that their homes are far from work and therefore are caught in traffic for hours and do not get home early to do the cooking. Especially in this age where both parents have to work to make ends... (Ghana Web, Ghana)
Changing to meet climate change Sep 22, 2009
Despite different goals among nations, trade liberalization of environmental goods and services should ensure that developing countries have easy access to adaptation technologies. The fear of growing competition among emerging economies can hardly be compared to the fear of losing to global warming. (Xinhuanet, China)
* Status quo is a hostile takeover Sep 20, 2009
This is the desired outcome for top Chinese officials, who have openly admitted that cross-strait economic liberalization is a stepping-stone to unification X rhetoric that has not disappeared despite warmer relations between Taipei and Beijing. There are clear indications that the proposed economic cooperation framework agreement (ECFA), which could be signed as early as next year, together with memorandums of understanding on financial matters, would make Taiwan dependent on China for its... (Taipei Times, Taiwan -- World Business)
At Summit, Asian Leaders to Press for Greater Role Sep 20, 2009
At the Pittsburgh conference on Thursday and Friday, the West will want Asia to help jump-start stalled world trade liberalization talks, to increase imports and to reduce large trade surpluses. Gary Hufbauer, a senior fellow at the Peterson Institute for International Economics, said major questions will be: "`What are you doing to stimulate your economy?' and some of them are doing quite a bit and `What more can you do?'". (ABC News -- Business)
* INTERVIEW: Former envoy to US warns on Ma policies Sep 20, 2009
Another level where the Ma administration has failed to conduct risk assessments is in cross-strait economic liberalization, Wu said ... Under the Democratic Progressive Party (DPP) administration, while encouraging trade liberalization with China, Taiwan imposed limits on the types of key technologies that could migrate to China, mostly to ensure that Taiwan retained its technological edge. (Taipei Times, Taiwan -- World Business)
* MOU talks nearly complete: MAC Sep 19, 2009
These sectors make up 25 percent of the total areas targeted for liberalization ... Addressing objections by the Democratic Progressive Party to the liberalization policy, she said that the government had not sacrificed the countrys sovereignty when promoting relations with China. (Taipei Times, Taiwan -- Taiwan)
EU leaders hammered out common positions for the upcoming G20 summit, calling for continuous efforts of fiscal stimulus and global curbs on bankers' bonuses.• EU leaders call for continued efforts in economic stimulus Sep 18, 2009
It called on the G20 summit to reiterate its stance against protectionism and continue to press for progress in trade liberalization, including with regard to a global, ambitious and balanced conclusion of the Doha negotiations in 2010. On employment, the EU document said that laying the basis for a sustainable recovery and sound public finances is the best way to ensure a rapid return to employment, prodding to speed up structural reform. (Xinhuanet, China)
Israel's Other War Sep 12, 2009
It is privatization and liberalization and deregulation, especially the deregulation program, that will bring about the economic growth that I envision. Hes positioned again to put even more force into those words. (Townhall.com)
G-20 nation profile: India Sep 9, 2009
Prime Minister Manmohan Singh, who will turn 77 just after the G-20 summit, is a Cambridge and Oxford-trained economist credited with spearheading India's liberalization in the early 1990s. Mr. Singh heads the Congress Party-led government for the second time after an unexpected and decisive victory in elections earlier this year. (Pittsburgh Post-Gazette, PA)
Mandelson urges China to step up global role Sep 8, 2009
By taking a more active international role, China could also help push for progress in the long-stalled Doha round of trade negotiations, aimed at extending trade liberalization under the World Trade Organization, said Mandelson. Beijing has been seeking a bigger say in the World Bank, International Monetary Fund and other global financial bodies in the wake of the world economic slump, arguing that its growing sway is not fairly reflected in their decision-making. (Scientific American)
New Weapon Against Jihad: Ping Pong Sep 5, 2009
Next are poverty and unemployment, followed by resentment over government attempts at liberalization. Preventing the adoption of extremist mindsets is a challenge, said Alhadlaq. (CBS News -- World)
Doha deadlockseeks Obama line Sep 5, 2009
Food policy is another hot-button issue and a group of 125 non-governmental organizations from 50 countries called on the governments participating in the trade talks in India to reject the further liberalization of food markets and promote policies that will achieve food security and rural development and safeguard farmers' livelihoods. The organizations, of which 13 are in Africa, argue in a letter to the 36 countries attending the mini-ministerial meeting that WTO policies have resulted in "a... (Asia Times Online)
'Delhi meet can be start of end-game' Sep 4, 2009
NEW DELHI: The participating countries in the Delhi mini ministerial on Thursday pressed for further building on the consensus that has been achieved in the last seven years, so that the world economy, which at present is suffering from the worst financial crisis, can benefit from trade liberalization. Concerned over the crisis, which led to the imposition of higher tariff and trade barriers by certain countries, WTO director general Pascal Lamy hoped the Delhi ministerial meeting would be the... (India Times, India -- Intl Business)
Farmers take to streets as Doha trade talks start in India Sep 4, 2009
While the Doha Round also seeks further liberalization in manufacturing and services, agriculture has proven the most contentious. Small farmers like Mr. Singh protesting in front of Parliament see little hope of competing with American farmers. (Christian Science Monitor -- World)
Trade Minister inaugurates Tariff Advisory Board Sep 2, 2009
The Trade Minister said the liberalization of Ghana's international trade regime had resulted in the flooding of various kinds of imported goods on the Ghanaian market, adding that the condition had almost collapsed the manufacturing sector. She expressed the hope that the establishment of TAB would provide a clear and transparent institutional framework to assess the impact of tariff policy on the competitiveness of the industry. (Ghana Web, Ghana)
Japan's New Government: Five Ways to Fix the Economy Sep 1, 2009
Liberalization of growing sectors such as nursing and medical care would allow consumers to pay extra for premium services and thus stimulate domestic demand. While public health insurance is necessary, economists say that high-quality private hospitals and clinics that charge more could hire more doctors. (Time.com)
Clunkers Theory Rooted in Depression Farm Policy: Caroline Baum Aug 31, 2009
Starting in the 1970s, liberalization opened export markets as an outlet for excess supply. Today farm policy subsidizes production. (Bloomberg -- Columnists)
On Aug. 20, 1866, President Andrew Johnson formally declared the Civil War over Aug 30, 2009
On Aug. 20, 1968, the Soviet Union and other Warsaw Pact nations began invading Czechoslovakia to crush the "Prague Spring" liberalization drive led by Alexander Dubcek. On this date. (FOX61, CT)
Sherpas blazing a diplomatic trail to city Aug 30, 2009
" But the current and former U.S. sherpas agreed that the leaders could and do confront and settle issues unresolved despite the meticulous preparations. Mr. Froman pointed to a widely reported encounter during the London summit where Mr. Obama was credited with brokering a last-minute accord on language involving crackdowns on tax havens -- an issue that had promoted a heated dispute between the French and Chinese delegations. "A very interesting issue, countries with different points of view... (Pittsburgh Post-Gazette, PA)
Africa: Country And Africa Trapped By IMF/World Bank [opinion] Aug 29, 2009
The first article came in this newspaper that had as its headline "Woes of textile sector deepen ..... As cheap foreign imports flood Ghana's market and that more job losses were in the offing. The second article is from another publication a couple of weeks back which revealed that Vodafone Ghana made a loss of GHc264 million - this is the same Vodafone saying it was coming to rescue Ghana Telecom from its own loss making which is why it was sold to them dirt cheap. What these two stories have... (allAfrica.com)
Belarus—2009 Article IV Consultation, Concluding Statement of the IMF Mission Aug 28, 2009
Economic liberalization and accelerated privatization efforts can produce these results. The exchange rate level and regime appear appropriate, but a move to a more flexible system would be warranted once a strong institutional framework is in place to support it. (IMF News)
Africa: Steamrolling the WTO Doha Negotiations Aug 28, 2009
In principle what the Doha Declaration agreed to in 2001 was meant to foster development in developing countries and address the adverse impact of trade liberalization and deregulation ... This entails integration into the global economy based on neo-liberal policies that enforce global privatisation, deregulation, trade liberalization and the opening of financial markets and institutions with the aim of preventing regulated capital flows and generally promoting more market driven economies that... (allAfrica.com)
India's Opposition Struggles With Past and Present Aug 27, 2009
When in opposition, it has been an outspoken critic of the Congress party-led government's liberalization policies, seeking to speak for workers and small businesses perceived to have been disadvantaged by reforms ... "They need to clarify their stand on a range of issues from liberalization and foreign policy, especially Pakistan, to their stance vis-a-vis religious and other minorities," he says. (Time.com)
China trade pact carriesprice-tag query Aug 26, 2009
ASEAN nations are attracted by the opportunities brought about by China's economic expansion and trade liberalization; they also seek to leverage their FTA with China to additional FTAs with important trading partners within the region (for example Japan) or outside (such as the United States). Although there are economic benefits for pursuing FTAs, nations often pursue them for non-economic reasons (for example, to strengthen an alliance, increase peace and security, enhance collective... (Asia Times Online)
IMF adopts irrigationplan during a flood Aug 25, 2009
Again, this is not feasible in democratic states; moreover, it would entail countervailing measures by rival countries, and would impede world trade liberalization. Money creation out of nothing by central banks and the IMF could intensify inflationary pressure and accelerate the depreciation of reserve currencies. (Asia Times Online)
A National Conversation About Unconventional Ideas For Development (IV) Aug 24, 2009
However it must be noted, as Dani Rodrik observes, that China did not simply liberalize and open up; it did so by grafting a market track on top of plan track, by relying on Town and Village Enterprises (TVEs) rather than private enterprise, and through special economic zones rather than across-the-board trade liberalization. In our communities capital market imperfect is so pronounced that it is extremely difficult to establish efficient capital markets to encourage private investments in... (Ghana Web, Ghana)
