Sick of hearing about China and Brazil? Just a little bit worried about all the money flooding into emerging market funds this year? Sceptical that South Korea can even be classed as an emerging market anymore? Why not try Africa?
News and views on the funds industry from Reuters and elsewhere:
Jupiter higher on market debut– Reuters
More than a billion people go hungry each day — about the same number as did in the late 1950s. That’s both a “tragedy on a grand scale” and an “astounding success,” according to a new report called “Millions Fed,” produced by the International Food Policy Research Institute and the Bill and Melinda Gates Foundation.
While the absolute number of hungry people is the same as it was 40 years ago, the proportion is dramatically smaller — one in six today, compared to one in three then, the report said. It illustrates 20 successful case studies where progress has been made in the fight against hunger.
World Food Day is Friday, and on opposite sides of the developed world, two large groups of experts have gathered to talk about the risks of food insecurity and what should be done to reduce hunger. In Rome, the UN’s Food and Agriculture Organization is mulling how to feed the world in 2050, and in Des Moines, Iowa, the World Food Prize forum will focus on the role of food in national security.
It seems if you got a problem in Washington today, you need a Czar to take care of it. And now some powerful U.S. senators believe the agriculture sector should get one to sharpen efforts to feed the world’s poor.
Former Agriculture Secretary Dan Glickman told lawmakers on Tuesday that too often agriculture takes a back seat to other “sexier” issues in policymaking, but it must be a priority if the country hopes to address global hunger and malnutrition.
“It is not a secondary factor,” Glickman said before the Senate Foreign Relations Committee.
Senator Dick Lugar, the Republican leader of the committee, supported appointing a White House food coordinator to take on raising agriculture and food aid’s prominence.
This “food czar” would be tasked with coordinating efforts between the U.S. Agency for International Development, the U.S. Department of Agriculture and other agencies involved in food aid and agriculture production.
The need for a food czar doesn’t seem as far stretched when considering recent events that have nudged agriculture over into the realm of a national security issue.
Soaring food prices last year sparked food riots and led to political instability in some parts of the world. The threat of violence and coups continues as the recession makes it increasingly difficult for even more people to buy food.
A food czar could possibly mitigate future riots by improving the United States’ role in making other nations self-sufficient in agricultural production, an area some say the country has failed in.
In fact, U.S. efforts to address the long-term challenge of persistant malnutrition earn an ‘F,’ according to political science professor and author Robert Paarlberg.
He said U.S. agriculture assistance to Africa has plummeted 85 percent since the 1980s. “So as things have been getting steadily worse in Africa, the United States goverment has curiously been doing steadily less,” Paarlberg said.
A food czar, Lugar said, would have the difficult job of addressing this conundrum.