User: flenvcenter Topic: Economics and Jobs-Independent
Category: Development :: International Development
Last updated: Jul 19 2014 21:14 IST RSS 2.0
 
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Future of WTO Negotiations Hangs in the Balance at G20 Trade Ministers' Meeting 19.7.2014 Politics on HuffingtonPost.com
On July 19, Trade Ministers from the G20 group of countries -- including Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, the Russian Federation, Saudi Arabia, South Africa, Turkey, United Kingdom, the United States and the European Union (EU) -- will convene for their annual meeting in Sydney, Australia. Decisions taken at the G20 are not binding on members, which is why the gathering has lost steam from its origins in the aftermath of the global economic crisis. But the meetings can be used to build consensus toward positions that can be brought back to forums where decisions can be enforced, such as the World Trade Organization (WTO). And this is exactly what the United States plans to do. At the WTO Ministerial last December in Bali, members agreed to the first expansion of the WTO since its coming into existence in 1995. The new agreement on "Trade Facilitation" would set binding rules on customs procedures and trade ...
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Nobel Economist Joseph Stiglitz Hails New BRICS Bank Challenging US-Dominated World Bank and IMF 18.7.2014 Truthout.com
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IMF Paper: Corporate Tax Avoidance Hurts Global Economy and Poor Countries 25.6.2014 Commondreams.org Newswire

The International Monetary Fund (IMF) released a staff paper noting that corporate tax avoidance negatively impacts all economies, but hurts developing countries the most. The IMF's release comes as the G20, the Organization for Economic Cooperation and Development and United Nations bodies seek vehicles to diminish corporate tax avoidance.

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Fossil Fuel Giants Hijacking UN's Green Energy Fund: Critics 11.6.2014 CommonDreams.org Headlines

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The Future of Energy in Turkey 14.5.2014 Green on HuffingtonPost.com
Over the next eight to twelve months, David Kroodsma and Lindsey Fransen are riding their bikes across parts of Asia , and sharing what they learn about the climate issues facing the countries they bike through. Turkey's economy has transformed over the past few decades. In 1960, according to the World Bank, the country's GDP per capita was just over $250 -- roughly the level of the poorest country on earth today. Now the average Turk is more than 40 times wealthier, and the country is, by many standards, a developed nation. The past decade has been particularly prosperous, with the economy more than doubling. And as we've traveled around Istanbul, we've seen signs everywhere of this growth: new buildings, packed shopping malls, and new roads. Unsurprisingly, energy consumption has also increased many times, and greenhouse gas emissions have increased by more than 20-fold since 1960. And there's still room to grow -- the average Turk still uses about one fifth as much electricity as the average U.S. ...
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Does Debt Forgiveness Work? Ask Africa 14.5.2014 Politics on HuffingtonPost.com
When countries in sub-Saharan Africa ("Africa" for short) gained independence in the 1960s, they inherited little or no public debt. And they stayed relatively debt-free until the early 1980s. Then, they went on a borrowing binge. By mid-1990s, the average African nation owed more than the value of all the goods and services it could produce in a year. The loans, which had to be paid back in foreign currency, came mostly from foreign governments and multilateral institutions, not from private bankers. The money was to build things like roads, ports, and power plants; this would speed up economic development and create the capacity to repay. It sounded sensible. Well, that capacity to repay never really materialized. Corruption, natural disasters, wars, bad policies, and bad luck made it impossible for African governments to keep up with debt payments without cutting basic services to their people, who were already poor and getting few services in the first place. The image of rich countries forcing poor ...
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What Can Foreign Investment Really Do for Your Country? 1.4.2014 Politics on HuffingtonPost.com
When a respectable multinational company announces a new project in a poor country, it is usually a cause for celebration -- especially when the project won't hurt the environment and won't corrupt public officials. These companies create jobs, pay taxes, and bring badly-needed foreign currency. More subtly, they use better technologies, spread their knowledge, and hire local firms to supply them. This, one hopes, makes everyone more productive, even those that have little or no contact with the newcomers. Think of an international clothing brand coming to your town to set up a factory and export top-end apparel, or a mining giant breaking ground near your village to mine for copper and sell it abroad. They generate benefits that go beyond their own businesses -- in technical jargon, they generate "spill-overs" for the rest of the economy. So, sensible governments do their best to attract "foreign direct investment." But, what evidence do we have that these spill-overs really exist? A new book edited ...
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Reforming International Tax System Must be Priority of G20 22.2.2014 Commondreams.org Newswire

The G20 must take necessary steps to reform the international taxation system to stop wealthy tax dodgers, beginning at its Finance Ministers and Central Bank Governors meeting this weekend (22-23 Feb) in Sydney.

Oxfam says that billions of dollars are lost each year in tax loopholes and avoidance. This gap must be plugged. Much of this money should be spent on services such as health and education in developing countries, helping to lift people out of poverty and reduce their dependence on aid.

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Global Fight for Land Rights at Tipping Point 6.2.2014 CommonDreams.org Headlines

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China Has Good Reason to Help Stabilize Latin American Economies 31.1.2014 Politics on HuffingtonPost.com
China Has Good Reason to Help Stabilize Latin American Economies
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In WTO Deal 'Corporate Rights Trump the Right of People to Food' 7.12.2013 CommonDreams.org Headlines
A World Trade Organization (WTO) deal appears imminent on Friday after the 159-member body held its Ninth Ministerial Meeting in Bali. While some are cheering the deal as "historic" after India held firm on a food security program, skeptics say the deal is a continuation of global trade policies in which "corporate "rights" trump the right of people to food." read ...
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Drawing the Lines in Bali: Global South Must Demand No Less Than Development Justice 5.12.2013 Commondreams.org Views
Antonio Tujan Jr. An activist wraps his face during a protest against the World Trade Organization meeting in Bali, Indonesia on Tuesday, Dec. 3, 2013. Indonesia is hosting the World Trade Organization Ministerial Conference from Dec. 3 - 6. The word "Gerak" means Movement. (AP Photo/Firdia Lisnawati) BALI, Indonesia — Lines have been drawn as world leaders gather in Bali for the World Trade Organization"s ninth summit. read ...
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Beyond COP 19: Accelerating Climate Protection 1.12.2013 Green on HuffingtonPost.com
Beyond COP 19: Accelerating Climate Protection
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The Staple Theory at 50: The staples trap in developing countries 25.11.2013 rabble.ca - News for the rest of us
Here is an entry from the global South in our continuing series of commentaries marking the 50th anniversary of Mel Watkins' classic article, " A Staple Theory of Economic Growth ." Dr. Alberto Daniel Gago teaches political economy at the National Universities of San Juan and Cuyo-Argentina. He is a long-time collaborator of Mel's, and has written extensively about the challenges of development and diversification in Argentina. His commentary explores the relevance of staple theory for understanding the modern barriers to development in the South. read ...
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The U.S. Provides Plenty Of International Aid, But To All The Wrong Places 21.11.2013 Politics on HuffingtonPost.com
The U.S. Provides Plenty Of International Aid, But To All The Wrong Places
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The G20 leaders head home, but the work is unfinished 9.9.2013 rabble.ca - News for the rest of us
Monday, September 9, 2013 The G20 have put their first nail in the coffin of corporate tax dodging, but they've given no guarantees how or when the rip-off of the poorest countries will stop. This is the third and final report from the G20 in Russia by Steve Price-Thomas. (Read part I and II here and here .) St Petersburg, Russia -- G20 leaders returning to their countries can point to some achievements at the 2013 G20 Summit, but also to a lot that was left undone. read ...
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Tax evasion damaging poor country economies 1.9.2013 Press releases
Multinational tax evasion is entrenching poverty and weakening developing country economies, Oxfam has warned ahead of the G20 leaders meeting in Russia to chart a plan for boosting global economic growth. G20 must act to rewrite international tax rules The G20 needs growth strategies that are balanced and inclusive, and to achieve this they must fix the global tax system. Dmitri Medlev Oxfam’s Russia country director Notes to Editors ^ Global Financial Integrity estimates that developing countries lose $100bn annually from trade mispricing alone. This occurs when goods leave a country of export under one invoice, the invoice is redirected to another jurisdiction such as a tax haven where the price is altered, and then the revised invoice is sent to the importing country for clearing and payment purposes. Christian Aid estimates that trade mispricing and false invoicing costs developing countries $160 billion a year. ^ The average annual salary of ...
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Robert Creamer: Is There a Difference Between a Third World Autocrat and a Wall Street Mogul? 22.8.2013 Politics on HuffingtonPost.com
For everyday Americans to once again be able to look forward to giving more opportunities to their children than they themselves experienced in life, America must rein in its own kleptocrats on Wall Street and end the descent into economic inequality that threatens our future.
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How much will climate change cost coastal cities? 19.8.2013 Environmental News Network
Global damage from flooding could cost coastal cities as much as US$1 trillion per year — and developing countries will be hardest hit, a study warns. According to the paper published today in Nature Climate Change, a "risk sensitive planning" strategy is needed to protect coastal cities, which are increasingly at risk because of climate change, subsidence and a growing population.
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Scandal of land grabs and tax dodging continues at expense of the world’s poor – G8 leaders must act to end hunger 17.6.2013 Press releases
During the two days of the G8 Summit, which starts today, $2.2 billion in illicit flows will have hemorrhaged from developing countries into tax havens and land one and a half times the size of Manhattan sold off to foreign investors. During the two days of the G8 Summit, which starts today, $2.2 billion in illicit flows will have hemorrhaged from developing countries into tax havens 1 < The G8 must change the rules so that no corporation or rich individual can avoid paying their fair share of taxes, and so that no company can take land from poor families without facing repercussions. Jim Clarken Oxfam Ireland’s Executive Director Notes to Editors ^ Global Financial Integrity estimates that 44.2% of illicit financial flows are absorbed by offshore tax havens, which is the latest analysis available. This estimate was based on a list of 46 tax haven jurisdictions. (Global Financial Integrity, The Absorption of Illicit Financial Flows from Developing ...
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