economy

In a year of social, economic and political challenges, UNESCO is working to fulfil its peace-building mandate by addressing the root causes of conflict. While undertaking a far-reaching reform destined to increase the Organization’s ability to serve its 195 Member States, UNESCO Director-General Irina Bokova defined the vision that underpins the Organization’s activities when she was elected for a second mandate last November.

In 1993, Vice President Al Gore made the unprecedented move of debating businessman and former presidential candidate Ross Perot regarding the merits of the North American Free Trade Agreement on CNN's Larry King Live.

By all rights, Iceland -- a remote Arctic island inhabited by just 320,000 people -- should be a forgotten backwater. And for most of its history, it was. But in recent decades, the former Danish colony has begun to attract outsized attention from abroad. After its banks were fully privatized in 2003, foreign money poured into the financial sector, which grew to almost ten times the size of national GDP before bursting in a matter of days in October 2008.

If not for a view of the ornate Uganda National Mosque or the sprawling, congested taxi park in the distance, it would be hard to tell that Outbox, a technology incubator and accelerator, is in a high-rise in Kampala (Uganda’s capital city) and not some non-descript office building in Silicon Valley. The vibe is intense and laid-back all at once. Modern, cushy chairs and long conference tables are used by casually-dressed young people typing furiously on MacBooks in a quest to create the next big thing.

The voice on the radio is calm, its message anything but. “Civil war is going to happen,” says the announcer on a station broadcast across the arid plateau around Khon Kaen, where rice paddies, cane fields and fishing-net factories form the geographic heart of the country’s red-shirt movement. It is now preparing to fight back if the government it supports, under caretaker Prime Minister Yingluck Shinawatra, falls. “All sides, get ready,” the voice says. “We are ready to come together any time in the name of democracy.”

As the year comes to an end, it is only natural to ask what might lie ahead. But, instead of asking what may lie ahead in 2014, let us jump to mid-century. What will governance look like in 2050? That is what the World Economic Forum (WEF) asked at a recent meeting in Abu Dhabi that focused on the future of governance under three potential scenarios arising from the ongoing information revolution. With that revolution already marginalizing some countries and communities – and creating new opportunities for others – the question could hardly be more timely.

For the second year in a row, Colombia has topped the list as the world’s happiest country, according to a survey released Thursday by WIN-Gallup. The survey known as the 2014 Barometer of Happiness and Hope reported that of the 1,012 Colombians polled, 86% self-reported as “happy,” while only 2% reported themselves as “unhappy.” This represents a rise of 9% from 2012 when 77% of respondents rated themselves as “happy.”

China is preparing to surpass the United States as the world’s largest economy, in purchasing power parity terms. Already its economy is 80 percent the size of ours, and if current growth rate differentials persist, it will take China only about four more years to surpass us. At market exchange rates, China’s GDP is smaller, and is expected to remain less than ours until 2028. This is hardly surprising.

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