economic growth

Under the theme, “Stimulating Private Sector Development and Economic Growth”, The Ministry of Finance in collaboration with Compete Caribbean Partnership Facility hosted the workshop in an effort to start a dialogue on generating innovation in the private sector.

Irina Bokova, the director general of Unesco, talked about how culture was instrumental to economic growth, citing a 2015 study that said the arts generated 29.5 million jobs worldwide, more than the auto industry. “Development without culture cannot be sustainable or equitable or inclusive,” she said. Other discussions at the conference resonated more subtly with the most salient issues of the day, including panels on refugees, censorship, heritage preservation and cultural diplomacy.

January 3, 2016

As Xi tries to increase China’s soft power, the last thing he wants is to cause the next global crisis or recession. The plot thickens when you consider the evolving nature of China’s role in the global economy.

One of the big questions in both politics and economics is whether government development aid actually produces economic growth in the recipient countries. [...] And, as the finding above shows, it doesn’t work. Not only doesn’t it work, the aid we give for political reasons works less well than that. We should, therefore, simply stop doing this. Which is as some of us have thought for a long time. The last 40 years of globalisation have shown that the finest poverty reduction technique we have is trade

“India is set to reap large-scale benefits from its new foreign policy of global alignment,” Goyal said at a function, to mark the Universal Brotherhood Day, on Saturday. “The shift from non-alignment to global alignment was based on long-term vision and helped India gain greater acceptability in the world,” he said.

Overseas aid was cut from $5.03 billion in 2014-15, to $4.05 billion in 2015-16, a reduction of around 20 per cent. Further cuts are scheduled to follow until 2017-18, by which time Australia's aid budget relative to gross national income will have sunk to 0.21 percent, its lowest level since overseas assistance was formalised in the post-war period. It will also be substantially below what Australia's more prosperous OECD partners allocate.

In terms of perceptions, many international publics believe the global economic balance of power has swung sharply towards the country. It has exposed the country to greater foreign scrutiny for which it has generally been ill-prepared. This has exposed a growing "soft-power deficit" which is complicating China's rise to power.

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