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Post #10 ( Dec. 4, 2016) Ghana Opposition Urges Voter Support, Seeks to Turn Economy Around

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Post #10 ( Dec. 4, 2016) Ghana Opposition Urges Voter Support, Seeks to Turn Economy Around

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http://www.nytimes.com/reuters/2016/12/04/world/africa/04reuters-ghana-politics-opposition.html

Current President Mahama, of Ghana, is seeking a second and final term and wishes to work towards development and reverse privatization by creating jobs and wealth for the people. Ghana which exports cocoa, gold, and oil is currently following a three-year aid deal with IMF to restore economic balance to an economy that is currently in debt, deficits, and high interest rates. From our readings we have learned that interaction with the IMF can have negative outcomes on developing nations due to the IMF forcing countries to adapt bad policies and can make a country fall further in to poverty.

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Post #9 (Dec. 1, 2016) Iceland Recovers, and Reykjavik becomes a Hive of Development

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Post #9 (Dec. 1, 2016) Iceland Recovers, and Reykjavik becomes a Hive of Development

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http://www.nytimes.com/2016/12/01/realestate/commercial/iceland-recovers-and-reykjavik-becomes-a-hive-of-development.html?ref=economy&_r=0

This article relates to our class because it talks about how tourism helped Iceland recover and develop the rest of East harbor after their economy faltered during the global financial crisis. A big driver of this project and the construction boom in Iceland has been because of the flood of tourists. It is expected that 1.6 million visitors will come to Iceland in 2016 due to multiple reasons like the popularity of the TV series “Game of Thrones” which has filmed in Iceland. Tourists explore the landscape and venture into volcanoes, climb glaciers and dip into steaming geothermal lagoons, all of which are a form of nation branding.

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Post #8 (Nov. 19, 2016) A golden opportunity

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Post #8 (Nov. 19, 2016) A golden opportunity

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http://www.economist.com/news/americas/21710307-chinas-president-ventures-donald-trumps-backyard-golden-opportunity

This article relates to the class regarding the case study with Jamaica. In this case China is coming in to Latin America to strike deals with them, promising to double bilateral trade and to increase the total stock of investment between them. Some Latin American economists argue that Chinese subsidies to their produces undermine domestic industries, and that Chinese exports “have had an effect on the region deindustrialization”. As for China pushes to invest in infrastructure and natural resources. This is similar to the Jamaica case because foreigners are being prioritized over domestic industries, which can be detrimental to the locals.

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Post #7 (Nov. 26, 2016) East Africa's booming camel trade

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Post #7 (Nov. 26, 2016) East Africa's booming camel trade

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http://www.economist.com/news/middle-east-and-africa/21710691-demand-gulf-fuels-booming-export-market-animals

This article is relevant to the course material because it talks about the camel trade industry and how livestock counted for 40% of Somalia’s GDP, they sold 5.3m animals worth $384m. Livestock is a big and growing business all over east Africa that is considerably fueled by the Gulf’s increasing appetite for meat. This is important because with demand for livestock increasing, this business is booming and is helping east African states boost their GDP. There is plenty of money that can be made in the legitimate business of exporting livestock.

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Post #6 (Nov. 29, 2016) Another Arab awakening is looming, warns a UN report

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Post #6 (Nov. 29, 2016) Another Arab awakening is looming, warns a UN report

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http://www.economist.com/news/middle-east-and-africa/21710934-arabs-make-up-just-5-worlds-population-they-account-about-half

The UN’s latest Arab Development Report talks about the growing Arab youth population numbers of 105m, however unemployment, poverty and marginalization are growing faster. The article explains that as states fail youth identify more with their religion. Although they are home to only 5% of the world’s population, in 2014 they accounted for 45% of world terrorism and 58% of its refugees. This article is relevant to class because it discusses development options like a customs union and improved travel access that could boost the regions GDP by $760B over seven years, however the Arab youth have a weak commitment to preserve government institutions.

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https://www.economist.com/news/international/21708254-microlending-might-work-better-if-it-were-more-impersonal-cash-call

This article is relevant to the course material because it talks about people in Africa getting a microloan with just a few simple taps on a phone to obtain this short-term loan, which will arrive in a mobile-money account almost immediately. This is both an exciting and scary development because the willingness to borrow shows consumption happening in the economy. I relate this to the UN’s Sustainable Development goals, promoting inclusive and sustainable economic growth. Microloans could help the population that still live on the equivalent of about $2 a day by driving a new freedom of consumption.

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Post #4 (October 14, 2016) How governments nudge informal businesses to leave the grey economy

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Post #4 (October 14, 2016) How governments nudge informal businesses to leave the grey economy

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http://www.economist.com/news/international/21708839-spread-mobile-technology-helps-how-governments-can-nudge-informal-businesses

This article is relevant to the class material because it talks about the grey economy and how an informal operation has its upsides like hiding revenue, paying staff in cash because this is an easy way to cut a tax bill. However, what the companies don’t realize is that by paying taxes and obliging to that duty, they are helping the countries development in the long term. When companies and citizens pay taxes, that revenue is for the state and it can be redirected to infrastructure, social security, healthcare and more.

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Post #3 (October 3, 2016) MEPSs debate EU-Africa aid relations 

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Post #3 (October 3, 2016) MEPSs debate EU-Africa aid relations 

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http://www.bbc.com/news/live/uk-politics-parliaments-37543126

This article is relevant to the course because it talks about MEPs discussing the future of the Cotonou Agreement which is set to expire in 2020. The Cotonou Agreement is a treaty between the EU and ACP states, and sets out the human rights provisions for trade and aid.

This relates to our discussion on the UN’s Sustainable Development Goals, and how the goals of Cotonou Agreement directly correlate with some of the goals of the UN. For example, the agreement was designed to establish a comprehensive partnership with 3 pillars: development cooperation, political cooperation, economic and trade cooperation.

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Post #1 (October 8, 2016) How the other tenth lives

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Post #1 (October 8, 2016) How the other tenth lives

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http://www.economist.com/news/finance-and-economics/21708245-world-should-be-both-encouraged-and-embarrassed-latest-global-poverty

This article is relevant because it talks about the recent numbers released by the World Bank regarding the 767 million people living in extreme poverty globally, surviving on less that $1.90 a day.
I believe this article can be tied in with the Washington Consensus because it was specifically aimed at developing countries in 1989, by Williamson. The WC was promoted by the World Bank, and although the WC was unsuccessful it could be argued that at least one benefit came from the WC which was helping these undeveloped countries short-term, decreasing the amount of people living in extreme poverty.

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Post #2 (September 29, 2016) Down to earth

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Post #2 (September 29, 2016) Down to earth

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http://www.economist.com/news/finance-and-economics/21707912-brexiteers-need-respect-gravity-models-international-trade-down-earth

This relates to the course because it speaks about Brexit, and how the prime minister of Britain believes that Britain “should become the global leader free trade.” The “gravity model” is also introduced, concocted by Jan Tinbergen, making two simple points about the geography of international trade.

The Washington Consensus seems to correlate the most with article because it talks about trade liberalization. Specifically, when it talks about tariff reductions and eliminating restrictions on imports. This type of scenario is referred to as the ‘free trade ideal”, which is what the British prime minister wants for Britain to an extent.