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No country with a McDonald’s can remain a democracy | George Monbiot

No country with a McDonald’s can remain a democracy | George Monbiot | International Economy | Scoop.it
The best way to combat the likes of Trump, Le Pen and Farage and the politics they represent is to rescue power from the grip of transnational corporations
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This article that makes the case that TNCs are a significant (if not the most significant) cause of de-globalisation. Try and replicate the line of argument in your own words.
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Ivory Coast: W Africa's 'best investment' destination - BBC News

Ivory Coast: W Africa's 'best investment' destination - BBC News | International Economy | Scoop.it
Ivory Coast, which has one of the fastest growing economies on the continent, has been named the top destination for investment in West Africa.
Aman Kanwar's insight:

A revision opportunity: Listen to this short clip loaded with application of development economics concepts. Then:

1. Practice your KAA and evaluation skills by explaining a relevant constraint to development, a factor that solves this constraint and is driving the Ivory Coast's development and a critical judgement on the impact of this factor.
2. Set some data response exam questions and a mark scheme.

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What does FDI stand for?

What does FDI stand for? | International Economy | Scoop.it
FDI stands for Foreign Direct Investment. This is said to occur when an overseas entity – typically a business that is either privately or state owned – buys a share of a domestic business with a view to influencing how it is run. In the UK this is defined as buying 10% or more of…
Aman Kanwar's insight:
This article is directly relevant to the A level specification. Print it out and highlight the exam skills in separate colours - Knowledge, Analysis, Application and Evaluation.
Then in your own words write up 3 ways in which FDI can benefit an economy and 3 scenarios under which these benefits may not be significant or even negative.
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Trade policy is no longer just for political nerds: it matters in the UK and US

Trade policy is no longer just for political nerds: it matters in the UK and US | International Economy | Scoop.it
Rise of outsiders such as Bernie Sanders, Donald Trump and Jeremy Corbyn reflects sense of being left behind by globalisation
Aman Kanwar's insight:
This article has some good evaluations for an essay on globalisation. Write a paragraph on the evidence it provides to suggest that "the retreat is underway from another period of globalisation."
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Free Trade – does it always produce good outcomes?

Free Trade – does it always produce good outcomes? | International Economy | Scoop.it
Trade has the potential to create a win-win situation for buyers and sellers and thereby improve their living standards. We all have direct first-hand experience of trade and history is replete with examples of new trade routes leading to better living standards for those involved in the new transactions. This intuitively obvious perception was given…
Aman Kanwar's insight:
This article outlines 3 scenarios in which extending Free Trade opportunities may not be desirable. The one relating to development is relevant to the A level specification. Practice capturing this argument in a written paragraph.
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Trade policy is no longer just for political nerds: it matters in the UK and US

Trade policy is no longer just for political nerds: it matters in the UK and US | International Economy | Scoop.it
Rise of outsiders such as Bernie Sanders, Donald Trump and Jeremy Corbyn reflects sense of being left behind by globalisation
Aman Kanwar's insight:
It has become increasingly fashionable to present the choices that macroeconomic policy makers grapple with as trilemmas as opposed to dilemmas. This article looks at how current trade policy in the wake of the globalisation of the 1990s and 2000s is likely to shape the political choices we make perhaps even more significantly than fiscal or monetary policy.
Write a para on the macroeconomic trade off between a trade policy that encourages economic integration -  in the form of a common market like the  EU or a trade deal like TTIP - and a loss of national sovereignty over monetary and fiscal policy which ultimately has an impact on democracy.
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Permafrost

Permafrost | International Economy | Scoop.it
The euro zone’s only Nordic member struggles to thaw its economy
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A nice case history for context on developmental constraints faced by a MEDC. Practice writing up 3 paras on 3 constraints faced by Finland.

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Is Globalization Thriving or Coming to an End? - Credit Suisse

Is Globalization Thriving or Coming to an End? - Credit Suisse | International Economy | Scoop.it
Globalization is evolving – we outline three potential scenarios that may lie ahead.
Aman Kanwar's insight:

1. In one paragraph outline the 3 potential scenarios for globalization developed in this article.

 

2. What is the author's view on the most likely scenario based on the current state of affairs? (This para could provide a very useful perspective to conclude an essay!)

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'Rivers of acid' in Zambian villages - BBC News

'Rivers of acid' in Zambian villages - BBC News | International Economy | Scoop.it
Zambian villagers are taking copper miners to court in the UK, accusing them of poisoning their water, as the BBC's Nomsa Maseko reports.

Via Geoff Riley
Aman Kanwar's insight:

1. With the aid of a diagram assess the real price paid for copper in Zambia.

 

2. Why might Zambian villagers take copper miners to court in the UK and not in Zambia?

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Geoff Riley's curator insight, September 13, 2015 4:11 PM

A must post article to the Development Economics board because here we have a graphic illustration of the negative externalities created from intensive copper mining in Zambia. This country has one of the lowest levels of intra-industry trade in the world; they are heavily dependent on a small cluster of industries, copper mining being right at the top. The human price of living close to these mines is enormous - "The soil in the copper belt used to be rich and highly productive but now produces virtually nothing." Villagers are grouping together to mount legal action but it will take years to reach a conclusion and even then, the chances of full compensation appear remote. This is a sobering article but one with resonance for students of A2 development economics.

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Joseph Stiglitz: how I would vote in the Greek referendum

Joseph Stiglitz: how I would vote in the Greek referendum | International Economy | Scoop.it
Neither alternative – approval or rejection of the troika’s terms – will be easy, and both carry huge risks
Aman Kanwar's insight:
Stiglitz makes an interesting point that very little of the loans extended to Greece has actually got to the Greek economy. Most of it has gone to paying private sector creditors. Unless these loans are channeled into productive investments in the Greek economy it is unlikely that Greece will be in a position to repay their debts without a significant fall in living standards.The creditors need to look at debt forgiveness on humanitarian grounds It also gives them the best chance of recouping some of their loans.
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The twilight of the resource curse?

The twilight of the resource curse? | International Economy | Scoop.it
FOR decades commodity prices have shaped Africa’s economic growth. The continent is home to a third of the planet’s mineral reserves, a tenth of the oil and it...
Aman Kanwar's insight:

This article suggests that Africa is beginning to break out of its reliance on commodities. Write up 2 reasons (in a para each) mentioned in the article  that have contributed to this.

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Aid? What aid? Why the UK ignores its record on international development

Aid? What aid? Why the UK ignores its record on international development | International Economy | Scoop.it
Labour and the Conservatives have a good record on foreign aid spending, but neither want to talk about it during this election campaign
Aman Kanwar's insight:

The NHS, education & DFID are the only 3 departments that have protected from govt spending cuts as part of its attempt to reduce the budget deficit.

Overseas Aid has been one of the success stories of UK politics that both Labour & Convervatives can take credit for. It is a shame that they have put this on the back burner in their election campaigns.

This article also explains the upcoming negotiations this year that will set the agenda for the SDGs over the next 15 years - making this a very important year for International Development.

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Talking Business with Linda Yueh, 28/03/2015

Talking Business with Linda Yueh, 28/03/2015 | International Economy | Scoop.it
Linda Yueh revisits 'fridgenomics' and debates whether an end to poverty is in sight.
Aman Kanwar's insight:

The MDG target of halving absolute poverty was achieved 5 years early thanks to Chinese growth. This is seen as equivalent to "picking the low hanging fruit" in the challenge of poverty reduction. The job that remains is more difficult and is equivalent to "picking the high hanging fruit".

 

Watch this programme as part of your Development Economics Revision.

Here are some questions to bring focus to  points that you should take away from the programme:

1. What is the profile of the people currently living in absolute poverty?

2. What target has the World Bank got for reducing this absolute poverty?

3. What are the 3 poverty reduction strategies that WB President Kim outlines in his response?

4. What is Paul Collier's insight on Natural Resources in the African context?

5. What is Paul Collier's insight on Aid in the African context?

6. What is Kevin Watkins response to Collier on Aid?

 

 

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How Italy became this century's 'sick man of Europe'

How Italy became this century's 'sick man of Europe' | International Economy | Scoop.it
Joining the euro removed the country’s only means of overcoming economic troubles and restoring competitiveness
Aman Kanwar's insight:
Good revision opportunity.
"Analyse 3 reasons that have contributed to Italy's sluggish growth over the last decade."
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Can Lebanon Escape the Resource Curse?

Can Lebanon Escape the Resource Curse? | International Economy | Scoop.it
Now that Lebanon, after two and a half years, finally has a president, the country can turn its attention to exploiting its hydrocarbon reserves. But policymakers must be mindful of the risks ahead – and build the governance institutions needed to manage fossil-fuel wealth properly.
Aman Kanwar's insight:
This article provides a current context for the resource curse and is useful to note for quoting examples to support your points. It also points to a conclusion that the natural curse is essentially a problem of bad governance and solutions to this problem are addressed at improving the institutional capacity to make good decisions.
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Why talk of the pound hitting a 30-year low is a bit misleading

Why talk of the pound hitting a 30-year low is a bit misleading | International Economy | Scoop.it
Making the cast-iron economic case against Brexit even stronger
Aman Kanwar's insight:
The trade weighted exchange rate is a better indicator of the likely impact of exchange rate fluctuations on the current account. This article shows that in the first couple of weeks after the EU referendum the pound has weakened on this measure but not as substantially as it might appear from reading most newspapers.
The UK has been running a persistent current account deficit for over a decade - the size of this deficit has become worryingly large in the last couple of years. The government has had no plan to correct this deficit and seems to have been working on the assumption that the UK economy could sustain its growth path indefinitely by continuing to fund the deficit by borrowing from and selling assets to overseas investors. How reasonable is this assumption? Was an economic shock at some point in the future inevitable? Has the depreciation of the pound over the last couple of weeks started a long overdue re-evaluation of the structure of the UK economy and spending patterns?
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The best of possible worlds: Entrepreneurs won't save the world, but entrepreneurship will

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An on the ground view from Kenya of the key developmental constraint faced by LEDCs. Would make an excellent point in an A level exam!
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TTIP: the key to freer trade, or corporate greed?

TTIP: the key to freer trade, or corporate greed? | International Economy | Scoop.it
Some say the US/EU trade deal that could be agreed this year will open up markets and promote UK growth. Others fear it will drive down wages and promote privatisation
Aman Kanwar's insight:
Whether the outcome of a free trade deal like TTIP is good or bad depends on who you are and what the motivations of the key players are. Ricardo's theory of comparative advantage  provides the intellectual underpinning for the argument to accept free trade as a way of increasing the size of the economic pie. However as experience has shown us this produces both winners and losers. As the article paraphrases Marx - free trade can also be an instrument for capital to crush labour.
Watching how vulture funds use the law to maximise their profits without consideration to the external costs of their actions makes one concerned that the ISDS will be used as an instrument that will enhance inequality and harm democracy.
Whilst this topic is too complex to capture within the context of an A level exam essay it is hugely important and as economists you should start formulating a view on this that you can refine over time.
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Drowning in red tape?

Drowning in red tape? | International Economy | Scoop.it
Surveys and statistics on foreign investment don't seem to indicate that Britain is suffering from over-regulation
Aman Kanwar's insight:
Cutting back red tape is a mantra when we talk about supply side policies. This article gives you a better understanding of what that means and allows you to compare Britain with other EU countries on this score. We have a competitive advantage over other EU countries in terms of presenting lower bureaucratic hurdles to big business. This may be a significant factor in the FDI flowing to the UK.
Big business and small businesses seem to be divided about the consequences for them with a Brexit. Big business is focussing on lost export markets. Small business is focussing on the UK moving towards even less regulation.
Getting the amount of regulation right is a tightrope walk. Too little leads to loss of consumer confidence in products and exploitation of workers. Too much can frustrate investment and have an adverse impact on labour markets and resource allocation.

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China's economy: slowing distorted and debt-addicted

China's economy is slowing. It's policy makers are having to contend with a massive debt-fuelled investment binge and the need to implement necessary reforms t…

Via Geoff Riley
Aman Kanwar's insight:

Lots of data in this presentation. Focus on developing a story in a couple of paras around debt as a constraint on development.

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Geoff Riley's curator insight, February 2, 3:12 PM

The latest analysis of the Chinese economy from the RBS team

Rebecca Clark's curator insight, September 21, 12:36 PM

China's economy

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The pain trade: Is this the beginning of the end of globalisation?

The pain trade: Is this the beginning of the end of globalisation? | International Economy | Scoop.it
The world's biggest economies are finding it increasingly hard to trade their way out of trouble.
Aman Kanwar's insight:

1. Analyse 2 reasons why "globalisation may have peaked".

 

2. Assess whether countries can "devalue their way to prosperity".

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Copper price close to six-and-a-half-year low

Copper price close to six-and-a-half-year low | International Economy | Scoop.it
The price of copper drops close to the lowest level in six and a half years as the plunge in commodity prices is felt across the world.

Via Geoff Riley
Aman Kanwar's insight:

1. Explain why the Zambian kwacha has depreciated so signifiicantly.

 

2. In the light of its dependence on copper assess the short term and long term consequences for the Zambian economy.

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Geoff Riley's curator insight, September 29, 2015 2:24 PM

The Chinese slowdown is an important factor behind the slump in world commodity prices and copper is no exception. Prices have collapsed to a six year low and might well be the catalyst for the extinction of mining giant Glencore whose share price has tanked in recent days. Spare a thought too for countries such as Zambia, a nation with one of the lowest levels of intra-industry trade on the plant and very low economic complexity. Their heavy dependence on exports of primary products is being laid bare by the slump in copper prices. The dramatic price fall represents a big deterioration in their terms of trade and it is no surprise that the Zambian currency is in free-fall.

 

This article from BBC is well worth a read for a contextual example of how primary product price volatility can have hugely significant macroeconomic effects to say nothing of the potential human consequences.

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China's Gini Coefficient Stands at 0.73 Shows Deng Xiaoping's Reform has Failed

Follow us on TWITTER: http://twitter.com/cnforbiddennews Like us on FACEBOOK: http://www.facebook.com/chinaforbiddennews Recently Peking University ...

Via Bruce Fellowes, Saint Martin's - Economics
Aman Kanwar's insight:

This news release is unusual in that it paints the Chinese economy in a bad light. It is possible that it has escaped the official censorship procedures. Alternatively you might want to question the credibility of the source of information.

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Bruce Fellowes's curator insight, May 15, 2015 11:26 AM

In Chinese but the video has english subtitles

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Winners and losers

Winners and losers | International Economy | Scoop.it
IN EARLY October the IMF looked at what might happen to the world economy if conflict in Iraq caused an oil-price shock. Fighters from Islamic State (IS) were...
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An article full of data relevant to micro and macroeconomics.

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Will China's infrastructure bank work?

Will China's infrastructure bank work? | International Economy | Scoop.it
Success will come if the new Asian Infrastructure Investment Bank acts more as a knowledge bank rather than a funding vehicle
Aman Kanwar's insight:

The AIIB is being seen as a rival to the World Bank created as a protest against the US dominance of the governance of the World Bank.

With $50b it will have a financial capability to rival the World Bank's $65b. Paragraph 2 of this article by Kenneth Rogoff is a great evaluation for Aid's successes and failures, as well as this excerpt from Para 11:

"Indeed, a strong case can be made that development aid would be more effective if it took the form of outright grants, rather than loans that ultimately need to be repaid. Headline aid numbers might seem less impressive, but long-run results would be better."

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