The Great Debate UK
The latest International Monetary Fund meeting ended with emerging market powers getting a pledge from the organisation for stronger and "more even-handed" scrutiny of what is going on in large advanced economies.
As Reuters correspondents Lesley Wroughton and Emily Kaiser report here, the decision is a response to long-running frustrations among emerging economies, which reckon the Fund has not been tough enough on its biggest shareholders, led by the United States.
The move reflects a number of things. First, it shows the growing clout of emerging economies within international institutions. The G-20, for example, is arguably now more influential than the old , richer G7. Secondly, it graphically underlines the current world-turned-upside-down state of the global economy, in which profligate rich economies are struggling to keep above water while supposedly poorer and less-developed ones enjoy solid growth and relatively stable finances. This graph makes the point:
One question that has been raised, meanwhile, is whether the IMF is capable of taking rich countries -- its primary paymasters -- to task. A comment from a craigbhill on the Reuters story encapsulates the issue:
(Photo: An honor guard trumpeter plays during the ceremony on the ninth anniversary of the 9/11 attacks in New York September 11, 2010/Chris Hondros)
Amid threats of Koran burning and a heated dispute over a planned Muslim cultural center in New York, Muslim leaders and rights activists warn of growing anti-Muslim feeling in America partly provoked for political reasons. "Many people now treat Muslims as 'the other' -- as something to vilify and to discriminate against," said Daniel Mach of the American Civil Liberties Union. And, he said, some people have exploited that fear in the media, "for political gain or cheap notoriety."
The imam leading the project to build the cultural center, including a prayer room, near the site of the September 11, 2001 attacks said there was a rise of what he called "Islamophobia" and the debate had been radicalized by extremists. "The radicals in the United States and the radicals in the Muslim world feed off each other. And to a certain extent, the attention that they've been able to get by the media has even aggravated the problem," Imam Feisal Abdul Rauf in an interview with ABC news aired on Sunday.
Mike Dicks, chief economist and blogger at Barclays Wealth, has identified what he sees as the three biggest problems facing the global economy, and conveniently found that they are linked with three separate regions.
First, there is the risk that U.S., t consumers won't increase spending. Dicks notes that the increase in U.S. consumption has been "extremely moderate" and far less than after previous recessions. His firm has lowered is U.S. GDP forecast for 2011 to 2.7 percent from a bit over 3 percent.
France's plan to ban full face veils, which comes up for a vote in the National Assembly on Tuesday, enjoys 82% popular support in the country, according to a new poll by the Pew Research Center’s Global Attitudes Project. Its neighbours also approve -- 71% of those polled in Germany, 62% in Britain and 59% in Spain agreed that there should be laws prohibiting the Muslim veils known as niqabs and burqas in public. (Photo: French woman fined for wearing a niqab while driving outside court in Nantes June 28, 2010/Stephane Mahe)
The poll, conducted from April 7 to May 8, did not range further afield, but reports from other countries show support there as well. The lower house of the Belgian parliament has voted for a ban, which should be approved by the Senate after the summer. In the Netherlands, several bills to ban full veils in certain sectors such as schools and public service are in preparation. Switzerland's justice minister has suggested the cantons there should pass partial bans but make exceptions for visiting Muslim tourists (the wives of rich sheikhs visiting their bankers in Zurich or Geneva?)
from Pakistan: Now or Never?:
Iran has been hosting regional leaders, including Afghan President Hamid Karzai, to celebrate the Persian New Year, or Nowruz (a spring festival whose equivalent in Pakistan, incidentally, is frowned upon by its own religious conservatives).
The Nowruz celebrations, which also included the presidents of Iraq, Tajikistan and Turkmenistan, are part of Iran's efforts to build regional ties and followed renewed debate over the kind of role Iran wants to play in Afghanistan. As discussed here, it has also been improving ties with Pakistan, and both countries may have worked together on the arrest last month of Abdolmalik Rigi, leader of the Jundollah rebel group.
from The Great Debate:
For the growing number of Americans who see China heading for inevitable global dominance, nudging aside the United States, a brief walk down memory lane helps put long-term predictions into perspective.
Not so long ago, Japan was seen as the next (economic) number 1. American executives studied the 14 management principles of The Toyota Way, developed by the automobile manufacturer that grew into the world's biggest car maker and is now recalling millions of defective vehicles.
Where is the burning debate on domestic and foreign policy observers might expect from the major political parties ahead of the next general election in Britain?
It’s just not going to happen, says political commentator and writer Tariq Ali, whose new novel “Night of the Golden Butterfly” concludes a fictional series titled “Islam Quintet” he began writing 20 years ago.
The Pew Forum on Religion & Public Life has come out with a new report that tries to measure, country by country on a global level, government and social restrictions on religion. You can see our coverage of the report here and here and can download the whole report here.
The report, which Pew says is the first major quantitative study of the subject on a global level, ranks countries under two indices -- one measures government restrictions on religion, the other social hostilities or curbs on religion that stem from violence or intimidation by private individuals or groups.
So keen is the British prime minister to airbrush out his decade as a "light touch" finance minister that he embraced the heretical idea of a levy on financial transactions as one way to make banks pay for future bail-outs -- the so-called Tobin tax.
The European Union has been at the forefront in pressing for binding, internationally monitored reductions in greenhouse gas emissions, and funding from industrialised countries to help developing nations switch to clean energy.