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India's rice revolution – audio slideshow

India's rice revolution – audio slideshow | Global Economy In the News | Scoop.it
A ground-breaking method of cultivation, developed in Madagascar, is boosting rice yields and changing lives for farmers in India
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Raising productivity and sustainable yields in the farm industry is a crucial component of the development/growth agenda in India. Here is a case study of progress in achieving this aim.

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Fotheringham's curator insight, February 21, 2013 7:07 PM

Just the opposite of Thailand

Global Economy In the News
Links to teaching resources and news for students and teachers covering growth and development in the BRIC and MINT countries
Curated by Geoff Riley
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Japanese yen takes a deliberate dive to keep things turning

Japanese yen takes a deliberate dive to keep things turning | Global Economy In the News | Scoop.it
Big business will not invest in extra production without assurance that the yen will stay low for the time being
Geoff Riley's insight:

Driving down the Yen with a deliberately loose monetary policy is pivotal to Abenomics and the desire to rid Japan of over two decades of deflationary pressures. This article neatly captures the problems in doing this when other central banks, namely the ECB have finally turned their attention to huge levels of quantitative easing (QE)

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Bruce Fellowes's curator insight, February 3, 3:25 AM

As discussed in  AS Economics yesterday

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Are we heading for a crash? | Albert Edwards, Aditya Chakrabortty, Linda Yueh, Ruth Lea, Fred Harrison, Vicky Pryce, Dambisa Mayo, Yanis Varoufakis, Mariana Mazzucato

Are we heading for a crash? | Albert Edwards, Aditya Chakrabortty, Linda Yueh, Ruth Lea, Fred Harrison, Vicky Pryce, Dambisa Mayo, Yanis Varoufakis, Mariana Mazzucato | Global Economy In the News | Scoop.it
Economists can’t agree if gyrating financial markets mean we face a global meltdown. We asked leading analysts to debate the question …
Geoff Riley's insight:

This is the sort of intelligent debate that the Guardian web site does rather well. A cluster of well-known economists - each of whom has significant experience in understanding global economic forces - discuss whether the fault-lines in the world economy are opening up once more. Most of the world has gorged on cheap money in the ultra-loose monetary policy world that emerged from the global financial crisis. But widening trade imbalances, the residual risk of the bursting of asset price bubbles in many emerging markets and advanced economies, together with huge levels of private and public sector debt, suggest that prospects for the world economy are fragile. This resource is well worth a read by ambitious Year 1 economists and a strong recommendation for those taking their A2 macro paper in June 2016.

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Saudi Arabia to raise domestic petrol prices by up to 40%

Saudi Arabia to raise domestic petrol prices by up to 40% | Global Economy In the News | Scoop.it
Saudi Arabia will raise domestic petrol prices by up to 40 per cent, AFP has reported, citing the kingdom's state press agency, SPA. Initial reports suggested the increase in petrol prices is imminent.  The change comes amid a raft of measures to combat the kingdom's record budget deficit of $98 billion in 2015.
Geoff Riley's insight:
The risks of primary product dependency are clear in this article - the Saudi economy will run a $98bn fiscal deficit this year as global oil prices continue to weaken.
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Reviewing the World Economy in 2015

A curation of articles looking back on key developments in the world economy in 2015
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Euro and Competitiveness: Finland Should Never Have Joined Euro, Foreign Minister Says

Euro and Competitiveness: Finland Should Never Have Joined Euro, Foreign Minister Says | Global Economy In the News | Scoop.it
Finland should never have signed up to the single currency union, according to its foreign minister.
Geoff Riley's insight:
The Finnish government has calculated that Finland needs to lower its labor costs as much as 15 percent to catch up with its main trade partners, Sweden and Germany. Internal devaluation can be very painful process. Would Finland be better off outside the Euro? What are the opportunities and risks of such a move allied to a currency devaluation?
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Exchange rates: Currency depreciation is silver lining of Brazil’s recession

"Brazil is undergoing its most severe recession in decades, with GDP expected to contract more than 3 per cent this year"

Geoff Riley's insight:

I will be using this case study when teaching exchange rates next term. The Brazilian real has been falling rapidly against the US dollar. Since mid-2014, the real has depreciated 43 per cent against the dollar although the real trade-weighted decline is smaller. Can an exchange rate shift of the size help to lift the Brazilian economy out of recession by restoring price competitiveness and improving the external trade figures? Brazilian export volumes do seem to be responding to a lower currency although the picture is clouded by the fact that commodities make up over half of Brazil’s goods exports, and their value in US dollar terms has fallen by 17 per cent over the past year. 

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GDP per capita, consumption per capita and price level indices for the EU

GDP per capita, consumption per capita and price level indices for the EU | Global Economy In the News | Scoop.it
Statistics on GDP per capita in PPS, actual individual consumption (AIC) per capita and price level indices are presented for the EU and 9 other countries.
Geoff Riley's insight:

The latest data on income and consumption per capita for the member nations of the EU. Useful when teaching EU enlargement, Brexit, single currency etc

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Globalisation: Manchester City group sells 13% to Chinese investors

Globalisation: Manchester City group sells 13% to Chinese investors | Global Economy In the News | Scoop.it
Manchester City's parent company has been valued at $3bn (£2bn) after selling a 13% stake, worth £265m, to a consortium of Chinese investors.
Geoff Riley's insight:

This footballing tale has several deeply entwined strands of globalisation - have a quick read and spot what they are!

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Borrowing to Invest: The long and winding road to UK Municipal Bonds

► Greater devolution of power in the UK brings the resurrection of municipal bonds a little closer

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Should local authorities be allowed greater freedom to borrow in the capital markets to raise funds for favoured investment projects? And if so what interest rate (yield) could they expect to pay?

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China and Globalisation: What can the New Silk Road do for global trade?

China and Globalisation: What can the New Silk Road do for global trade? | Global Economy In the News | Scoop.it
China aims to achieve $2.5tn in additional annual trade with nations along the proposed route of the New Silk Road.
Geoff Riley's insight:

Great article on China's “One Road, One Belt” initiative including some super context on barriers to trade - for example trains require at least two changes of gauge – as China and Europe use the standard of 1435 mm gauge while Belarus, Russia, Mongolia and Kazakhstan use the broad gauge of 1520 mm - can you imagine the excitement of train spotters when this project is completed? 

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Graham Watson's curator insight, November 23, 2015 5:28 AM

And I thought the Silk Road ran from Macclesfield to Stockport. Silly me.

 

Saw that Marco Polo once, mind you...

Entrepreneurs & Investors in Africa's curator insight, November 26, 2015 10:57 AM

China aims to achieve $2.5tn in additional annual trade with nations along the proposed route of the New Silk Road.

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Commodity prices come tumbling down

Commodity prices come tumbling down | Global Economy In the News | Scoop.it
Most commodity prices fell in the third quarter of 2015 as a result of abundant supplies and weak demand, leading to a further downward revision in price forecasts for 2015 and 2016. Our quarterly Commodities Markets Outlook report analyzes markets for major commodities groups and forecasts prices for 46 commodities from bananas to zinc. The price declines are part of a five-year-long commodities slump.
Geoff Riley's insight:

There are winners and losers from a five year slump in commodity prices - this new blog from the World Bank looks at the scale of the decline in the prices of many (but not all) primary commodities.

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OCR F585 June 2016 Case Study Articles | Economics | tutor2u

This is a curation of articles and other resources for students taking the June 2016 OCR F585 A2 Economics Case Study which this year focuses on globalisation,
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Gauging the strength of Chinese innovation

Gauging the strength of Chinese innovation | Global Economy In the News | Scoop.it
China does well in customer- and manufacturing-oriented innovation, though not in the more advanced varieties. But the country will need them to sustain growth. A McKinsey Quarterly article.
Geoff Riley's insight:

Can China move from being an innovation sponge relying heavily on absorbing and adapting existing technology and knowledge from around the world into an economy which catalyses innovation to move higher up value chains and also export new technologies around the world? This McKinsey report is highly detailed and finds that despite an annual spend in excess of $200 billion on research (second only to the United States), more than 30,000 PhDs graduating each year in science and engineering, and a world lead in patent applications (more than 820,000 in 2013) - China is not global competitive in industries such as pharmaceuticals and vehicles. Innovation will be critical for China to successfully avoid the "middle-income trap".

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Asian Version of IMF Seen to Be Launched in Spring

ASEAN+3 Macroeconomic Research Office, or AMRO, an independent body formed in April 2011 by the 10 member states of the Association of Southeast Asian Nations plus Japan, China and South Korea, will likely be converted into an official international organization.
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A Swiss referendum will decide whether its banks can create money

A Swiss referendum will decide whether its banks can create money | Global Economy In the News | Scoop.it
Switzerland will hold a referendum to decide whether its private banks can create money after 110,000 people said they want their central bank to be solely in charge. Seven years after the financial crisis struck, the Swiss federal government confirmed on Christmas Eve that it would ask its people whether the central bank – the SNB – should be the sole institution to be able to create money in its financial system. No date has been set for the referendum yet.
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World Bank - Year in Review: 2015 Global Economy in 12 Charts

World Bank - Year in Review: 2015 Global Economy in 12 Charts | Global Economy In the News | Scoop.it

Now that we've reached the end of 2015, it's clear this was a year of major milestones, emerging trends, and new beginnings. Among other things, 2015 marked a historic drop in poverty, a major climate change agreement, and record low child and maternal mortality rates. Take a look at what the data show."

Geoff Riley's insight:

A tremendous resource for those wanting extra contextual awareness.

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Divisions within OPEC - Tackling the oil glut

► Oil has reached a seven-year low with Brent, the global benchmark, nearing $40 a barrel

Geoff Riley's insight:

Divisions within OPEC are emphasised in this discussion between two FT journalists. Oil prices have slumped below $40 per barrel and the last OPEC meeting broke up without agreement with member nations effectively dropping any attempt to negotiate an output ceiling for the producer cartel. Will the vast fall in the crude oil price lead to a significant contraction in oil production from non-OPEC countries including the UK and Norway? What will happen when Iran comes back into the fold next year? Could oil prices fall below $20 a barrel - and would prices that low for any length of time be sustainable for countries whose fiscal and export revenues are so heavily dependent on oil?

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Growth: Professor Coen Teulings (Cambridge University) on Causes of Secular Stagnation

Dr Miguel Morin talks to Professor Coen Teulings about Secular Stagnation
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A useful six minute interview on some of the underlying causes of secular stagnation in (mainly) advanced countries. 

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Exam Technique: EU Customs Union - Analysis and Evaluation | Economics | tutor2u

Exam Technique: EU Customs Union - Analysis and Evaluation | Economics | tutor2u | Global Economy In the News | Scoop.it

This is an example of a colour coded approach to writing an exam essay for A2 macro on the impact on consumers and producers of the common external tariff

Geoff Riley's insight:

Exam technique for A2 macro explored here in an answer to a past question on the EU customs union. The aim is to demonstrate the exam skills of knowledge, application, analysis and evaluation using a colour coded approach. 

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WGSMacroeconomics's curator insight, January 12, 1:02 PM

Very relevant for year 13 students who are just about to start studying trade.

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BRIConomics: Brazil's recession deepens - real GDP down 4.6% in a year

BRIConomics: Brazil's recession deepens - real GDP down 4.6% in a year | Global Economy In the News | Scoop.it
Brazil's economy shrank by 1.7% in the third quarter of the year deepening the country's worst recession in 25 years.
Geoff Riley's insight:

Brazil is in deep recession - a steep drop in investment is adding to their macroeconomic woes. Not even the prospect of the 2015 Rio Olympics seems to be lifting animal spirits in a country in which the government remains engulfed in corruption allegations. Tough times for one of the BRIC nations.

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World Economy: 5 maps on the state of global inequality

World Economy: 5 maps on the state of global inequality | Global Economy In the News | Scoop.it
These maps explore inequality across the globe.
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ASEAN pushes for regional economic integration

ASEAN pushes for regional economic integration | Global Economy In the News | Scoop.it
One of the key topics at the Asean summit is regional economic integration by the end of the year, but how close is this union in reality?
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Winners of China's New Economy

China’s slowdown hasn’t hit all global companies equally. The companies that do well in China's new economy are those that appeal to the middle class. Here's...
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A short 2 minute video on some of the businesses benefiting from the slowdown in the Chinese economy

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I’m a Phillips, and even I don’t trust the Phillips curve

I’m a Phillips, and even I don’t trust the Phillips curve | Global Economy In the News | Scoop.it
Mention "Lombard Street" to an economist, and they'll likely assume you're talking about Walter Bagehot's 1873 ur-text of central banking. But, for our purposes the more important Lombard Street is the serpentine San Francisco byway of that name. Why? It's the curves, stupid. In economics, curves are a shorthand way of referring to widely accepted economic relationships....
Geoff Riley's insight:

One for macro enrichment reading - how useful are ideas such as the Laffer Curve and the Phillips Curve?

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Bruce Fellowes's curator insight, November 1, 2015 3:00 PM

An interesting 'scoop' from Geoff Riley

WGSMacroeconomics's curator insight, November 2, 2015 12:56 PM

An important article to consider if you were struggling with the concept of the Phillips Curve,