Market Volatility Is the Highest Since Hoover-FDR Transition

As British Prime Minister Gordon Brown notes in this section, we are witnessing the birth pangs of a new global order in this deepest financial and economic crash since the Great Depression. There will be plenty of pain all around for a while. And when the quarter-century leveraged-debt bubble of the United States—the explosion of which detonated the crash—is finally unwound, the new global balance will favor an Asia flush with cash. The G-20 will replace the G-7 as the executive committee of globalization. And, if wise leadership stays the course, there will be a "green lining" to the recovery as the fiscal stimulus is imbued with an environmental sensibility.     

Crisis Is Endemic to the Financial System

As British Prime Minister Gordon Brown notes in this section, we are witnessing the birth pangs of a new global order in this deepest financial and economic crash since the Great Depression. There will be plenty of pain all around for a while. And when the quarter-century leveraged-debt bubble of the United States—the explosion of which detonated the crash—is finally unwound, the new global balance will favor an Asia flush with cash. The G-20 will replace the G-7 as the executive committee of globalization. And, if wise leadership stays the course, there will be a "green lining" to the recovery as the fiscal stimulus is imbued with an environmental sensibility.     

China's Stimulus and the Fall of the Dollar

As British Prime Minister Gordon Brown notes in this section, we are witnessing the birth pangs of a new global order in this deepest financial and economic crash since the Great Depression. There will be plenty of pain all around for a while. And when the quarter-century leveraged-debt bubble of the United States—the explosion of which detonated the crash—is finally unwound, the new global balance will favor an Asia flush with cash. The G-20 will replace the G-7 as the executive committee of globalization. And, if wise leadership stays the course, there will be a "green lining" to the recovery as the fiscal stimulus is imbued with an environmental sensibility.     

G-20 Should Supplant the G-7

As British Prime Minister Gordon Brown notes in this section, we are witnessing the birth pangs of a new global order in this deepest financial and economic crash since the Great Depression. There will be plenty of pain all around for a while. And when the quarter-century leveraged-debt bubble of the United States—the explosion of which detonated the crash—is finally unwound, the new global balance will favor an Asia flush with cash. The G-20 will replace the G-7 as the executive committee of globalization. And, if wise leadership stays the course, there will be a "green lining" to the recovery as the fiscal stimulus is imbued with an environmental sensibility.     

Blueprint for a Green Recovery

As British Prime Minister Gordon Brown notes in this section, we are witnessing the birth pangs of a new global order in this deepest financial and economic crash since the Great Depression. There will be plenty of pain all around for a while. And when the quarter-century leveraged-debt bubble of the United States—the explosion of which detonated the crash—is finally unwound, the new global balance will favor an Asia flush with cash. The G-20 will replace the G-7 as the executive committee of globalization. And, if wise leadership stays the course, there will be a "green lining" to the recovery as the fiscal stimulus is imbued with an environmental sensibility.     

Managing the Birth Pangs of the New Global Order

As British Prime Minister Gordon Brown notes in this section, we are witnessing the birth pangs of a new global order in this deepest financial and economic crash since the Great Depression. There will be plenty of pain all around for a while. And when the quarter-century leveraged-debt bubble of the United States—the explosion of which detonated the crash—is finally unwound, the new global balance will favor an Asia flush with cash. The G-20 will replace the G-7 as the executive committee of globalization. And, if wise leadership stays the course, there will be a "green lining" to the recovery as the fiscal stimulus is imbued with an environmental sensibility.     

Rebalancing the Global Economy: China Must Allow Currency to Rise, US Must Boost Savings

Thanks to the draining effects of the Iraq war and the financial meltdown emanating from Wall Street, a powershift away from American dominance is taking place. Caught between a rising China and an America in relative decline, the new leadership in Japan is recalibrating its post-World War II relationships. The G-20 has usurped the role once played by the G-8 as the governing committee of globalization. And the symbiotic coupling of "Chimerica", born out of the credit bubble built up over the past two decades, is being put to the test.
In this section, the new prime minister of Japan, the president of the European Union, the president of Brazil and a leading economic historian assess these shifts.     

The G‐2: Are America and China Headed for Divorce?

Thanks to the draining effects of the Iraq war and the financial meltdown emanating from Wall Street, a powershift away from American dominance is taking place. Caught between a rising China and an America in relative decline, the new leadership in Japan is recalibrating its post-World War II relationships. The G-20 has usurped the role once played by the G-8 as the governing committee of globalization. And the symbiotic coupling of "Chimerica", born out of the credit bubble built up over the past two decades, is being put to the test.
In this section, the new prime minister of Japan, the president of the European Union, the president of Brazil and a leading economic historian assess these shifts.     

The G-20 Moment

Thanks to the draining effects of the Iraq war and the financial meltdown emanating from Wall Street, a powershift away from American dominance is taking place. Caught between a rising China and an America in relative decline, the new leadership in Japan is recalibrating its post-World War II relationships. The G-20 has usurped the role once played by the G-8 as the governing committee of globalization. And the symbiotic coupling of "Chimerica", born out of the credit bubble built up over the past two decades, is being put to the test.
In this section, the new prime minister of Japan, the president of the European Union, the president of Brazil and a leading economic historian assess these shifts.     

Obama, China and Wishful Thinking About American Jobs

Thanks to the draining effects of the Iraq war and the financial meltdown emanating from Wall Street, a powershift away from American dominance is taking place. Caught between a rising China and an America in relative decline, the new leadership in Japan is recalibrating its post-World War II relationships. The G-20 has usurped the role once played by the G-8 as the governing committee of globalization. And the symbiotic coupling of "Chimerica", born out of the credit bubble built up over the past two decades, is being put to the test.
In this section, the new prime minister of Japan, the president of the European Union, the president of Brazil and a leading economic historian assess these shifts.     

Japan: Shifting Away from American-led Globalization

Thanks to the draining effects of the Iraq war and the financial meltdown emanating from Wall Street, a powershift away from American dominance is taking place. Caught between a rising China and an America in relative decline, the new leadership in Japan is recalibrating its post-World War II relationships. The G-20 has usurped the role once played by the G-8 as the governing committee of globalization. And the symbiotic coupling of "Chimerica", born out of the credit bubble built up over the past two decades, is being put to the test.
In this section, the new prime minister of Japan, the president of the European Union, the president of Brazil and a leading economic historian assess these shifts.     

Financial Markets Must Not Return to "Bad Old Ways"

Thanks to the draining effects of the Iraq war and the financial meltdown emanating from Wall Street, a powershift away from American dominance is taking place. Caught between a rising China and an America in relative decline, the new leadership in Japan is recalibrating its post-World War II relationships. The G-20 has usurped the role once played by the G-8 as the governing committee of globalization. And the symbiotic coupling of "Chimerica", born out of the credit bubble built up over the past two decades, is being put to the test.
In this section, the new prime minister of Japan, the president of the European Union, the president of Brazil and a leading economic historian assess these shifts.     

Shaping the Future of Mid-range Northern ngdos: ten challenges,ten proposals

In recent years the financial crisis in traditional donor countries, the aid effectiveness debate and the approaching end of the Millennium Development Goals agenda have opened the door to new goals, instruments and actors in development. This is shaping a new and more complex global aid system. As a consequence, traditional actors like mid-range Northern ngdos (nngdos), born and raised in an oda-based development system, face a challenging scenario. This paper has two aims. First, it aims to summarise the 10 most important challenges nngdos face today. As will be shown, such a complex landscape calls for adaptation, especially if nngdos want to keep playing a key role in the development aid system. The second aim therefore is to present 10 proposals which could help nngdos to overcome these threats, shaping the future this relevant actor could play in the new global aid system.     

Marketing Development: celebrity politics and the ‘new’ development advocacy

Politics and culture, once considered separate, are now fusing in new and interesting ways. Political activism is becoming popular, particularly through the expansion of a new kind of development advocacy made highly visible through celebrity involvement. Theorists of globalisation celebrate the democratisation of civil society made possible by new information and communications technology; critical theorists will note the various ways in which ict ambivalently makes the contradictions in global capitalism more obvious and has become the means by which globalisation is contested. Some metropolitan governments have sought to capitalise on this new knowledge economy by making knowledge for development part of their strategies to produce ‘global citizens’ necessary for the global economy. This paper examines the linkages between celebrity and government-funded development advocacy in Australia, which comprise the introduction of free market principles to form a marketing campaign for neoliberal globalisation.     

Africa's prospects and South Africa's leadership potential in the emerging markets century

This article examines Africa's role in an evolving international system where powerful emerging markets, such as bric, together with established powers are shaping economic trajectories. The specific focus is on South Africa as an aspiring leader on the African continent, and on its potential for becoming an emerging market shaping the global order together with bric and the West. It is unclear whether a changing global economy in which the postcolonial world plays a greater role will result in improved developmental prospects for Africans as African countries gradually reorient themselves from the West to the South, or whether relations with emerging markets will resemble neo-colonial ties with the West. South Africa's structural weakness, stemming from serious domestic problems of a social, political and economic nature, threatens to undermine its standing in Africa and its emerging market status.     

Intellectual Property Rights and the Potential for Universal Access to Treatment: trips,acta and hiv/aids medicine

Where hiv/aids is concerned, the twin goals of ‘zero new infections’ and an ‘aids-free generation’ are now, due to advances in treatment (and treatment as prevention), a realistic possibility. However, these goals can only be achieved through the scaling-up of treatment to the point of universal access. It is inevitable that the success of any scaling-up will be predicated on cost, particularly of hiv/aids medicines. This article argues that recent changes in the global intellectual property landscape—effected by way of bilaterally- and plurilaterally-negotiated trade agreements initiated by developed countries—jeopardise the target of universal access. Enhanced protection of international intellectual property rights increasingly poses a threat to the development of, and international trade in, generic medicines. Unless developing countries move to reinvigorate moribund multilateral institutions, particularly the wto, they will lose control of the intellectual property agenda, and thus the ability to impose an alternative vision regarding universal access.     

Japanese corporate groupings (keiretsu): A reconnaissance of implications for the future

Four trends presage a possibly somber scenario for the United States at the dawn of the 21st century. American business managers face growing shares of global markets held by foreign business, diminishing U.S. industrial capabilities, and pressure to compete in Japan for Japanese markets. And U.S. policymakers are experiencing operational difficulties, simultaneously influencing and influenced by U.S. industry performance. Thus, the U.S. political business system appears out of alignment with the emerging global competitive environment.

Many explanations and antidotes have been offered, each with its element of truth. The aim is not to deny them, rather it is to explore the significance of corporate grouping structures for Japanese and by implication world business. Long practiced habits of cooperation, mutually sustained competitive advantage, and interlocking ownership appear to be the major ingredients in the glue holding corporate groupings together.

If corporate groupings are as important as some Japanese scholars suggest then a new paradigm may be necessary for understanding their implications for the global political business environment. Thus, significant changes --in philosophies, perspectives, approaches and strategies-- may loom ahead for U.S. managers and policy makers who want to compete successfully in the 21st century.

Arguably, the most competitively potent and successful enterprises in the world are Japanese. Less visible, but of critical importance to this success, are inter-organizational support networks -- Japanese corporate groupings -- which bolster group members with capital, expertise and markets. This article is a reconnaissance for managers, scholars and policy makers detailing future implications of Japanese corporate grouping structures. The first and second sections establish four important trends and summarize popular and scholarly understandings of the corporate grouping phenomenon. If corporate groupings are as important as some Japanese scholars maintain, then perhaps we need a new paradigm which clearly identifies "strategic coupling" as a critical success factor in the new global political business environment. The third and final sections develop a framework for understanding some of the economic, institutional, organizational and strategic implications of Japanese corporate groupings.     

The Stop Climate Chaos Coalition: climate change as a development issue

After the Working Group on Climate Change and Development recognised the challenge that climate change poses to development, a number of environmental and aid, trade and development organisations formed a new politically active coalition, Stop Climate Chaos (SCC), to demand that stronger climate laws be adopted in the UK. The coalition now frames the issue of climate change as a ‘global climate justice’ one, emphasising the severity of the issue for people in poor countries, who will suffer the worst consequences, but have contributed least to it. The extent to which SCC member organisations address climate change as a global justice issue is explored through a content analysis of their websites, and a survey of participants in the SCC I-Count march, London, 3 November 2006. There is certainly evidence that environmental organisations are ‘facing South’, just as aid, trade and development organisations are ‘turning green’.     

Realising Justice

In the recent past the Western-dominated global institutional order has come to be challenged by the bloc of rising powers. The question of whether brics has the ability to reshape global governance is an important one and carries significance for the global South, which has been adversely affected by global institutions. Yet the reliance on the capacity, or the will, of rising powers to speak for the global South, or to prioritise the concerns of their own people might be misplaced. Conceivably the only way both global institutions and governments can be compelled to heed the voices of the poorest of the poor is through sustained activism in civil society. In a globalised world, civil society activism has to be global in scope. Civil society might not be the best solution to the problems of the world, but in a disenchanted post-revolutionary world, it is the only option on offer.     

Beyond budgetary support: pro‐poor development agendas for Africa

The latest fashion in a sequence of global interventions by donors, designed to make a difference to the lives of poor people, is the use of budgetary support mechanisms. These have emerged afresh at the start of the twenty‐first century as the increasingly dominant mode of desired aid delivery for many donors in the African context. However, this paper argues that such an approach to ‘development’, particularly when combined with an understanding of poverty largely as an absolute concept that can be eliminated through economic growth, will have damaging effects on the lives of the poor and marginalised across the continent. The time is ripe for a new global agenda that seeks to place as much emphasis on equity as it does on economic growth.