In an interview, Martin Wolf, chief economics commentator at the Financial Times, London, talked about . Essentially, this is a crisis in which there has been excessive lending across borders. So it has an important balance-of-payments element, and associated with the crisis are large losses of competitiveness in a number of countries, and excessive private and public borrowing. All that stopped and imploded. The way you respond to such crises -- which are similar to those that emerging and developing countries have experienced in the past -- is two-fold. First, you need to finance in the short run and adjust in the medium-to-long run. Second, you have to adjust. Wolf sees the necessary path for fiscal adjustment in a slightly different -- but necessary --...
The article talked of a terrible Chinese balance-of-payments crisis, capital flight, corruption, a tottering banking system, out-of-control subsidies, runaway inflation, and the threat of an uprising by the poor, implying that top Chinese officials were economic ignoramuses. More than a decade later, this investment still occurs only on terms allowed by the Beijing government, which limits majority control, demands sensitive technology transfer, tolerates piracy of intellectual property, restricts foreign involvement in the sensitive banking sector, and promotes the use of China as a low-wage corporate outsourcing base.
India: Chain grocers will benefit all Stores such as Walmart would improve infrastructure that will benefit small vendors and growers, boosting their incomes.
... a round of liberalization forced by a balance-of- payments crisis in the early 1990s. The centra...
In the early months of this year, as during all of 2005, India was the beneficiary of heavy inflows of foreign capital into the local equity bazaar. But then the tide turned and the Bombay Stock Exchange's Sensitive Index started to plummet, after foreign institutional investors began trimming their exposure. The unwinding of positions was a wakeup call for many investors in India, however, reminding them that this country has been attracting relatively little reliable, long-term, direct investment capital and is, instead, heavily dependent on volatile inflows of short-term funds to finance its current-account balance-of-payments deficit. This is not to suggest that India is headed for an a;;-out crisis. Some argue that the mini-crisis the country has been going through may have a salut...
... investment in banks to bolster their balance sheets (Morcroft, 2008). However, this did little ...-risk borrowers remain current on their payments and to stay in their homes. When addressing the in...
... those reported before the country's 2006 balance of payments crisis and later global recession unti...
A year later after the political uprisings in the Arab world, many of the recipient countries -- particularly those in the midst of political transition, like Egypt -- are still waiting for the promised funds to arrive. After uprisings swept across North Africa and the Middle East last year, donors from around the world were quick to pledge aid to the so-called Arab Spring countries to help them reconstruct their economies.
... to cope effectively with budget and balance of payments problems. Data from Thomson Reuters in... reason is the financial and euro zone debt crisis that has made lending tougher for Western donors t...
... to hold more government bonds on their balance sheets. The banks predictably loaded up. When the ... perceived as risky, causing a balance-of-payments crisis for several euro zone nations. Greece, Port...
The close connection of economic and security issues points up the need to add the Treasury secretary as a statutory member of the National Security Council. The National Security Act of 1947, which created the National Security Council, the Defense Department, the Joint Chiefs of Staff and the Central Intelligence Agency, turns 65 on Thursday. But it's not ready for retirement; it needs, instead, to be rejuvenated by making the Treasury secretary a statutory member of the National Security Council, rather than an invited attendee.
... we look forward from the global financial crisis of the last few years. The concept of national sec..., pushing the country toward a severe balance of payments crisis. The outlook was for food and f...
... problems including the imbalance of payments, of Berlin, Cuba, and the Far East; of NATO, of th... in the first months of 1961, including a balance of payments crisis, rising tension with the Soviet...
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