Martin Wolf of the Financial Times points out that ‘in the 2008-09 financial year, India’s gross domestic product expanded by 6.7 per cent. This year it is forecast to grow by 7.2 per cent.’ (Martin was also in Delhi in February and made similar comments on why India is leading post-crisis growth.) This is correct, but the quarterly and monthly economic data tells a more nuanced story and reveals more about the remarkable recovery. The economy [...] Read more »
Collective action on global risks
Alex Evan’s new report “Confronting the Long Crisis of Globalization” is essential reading. Multiple shocks have hit the global economy over the last decade – 9/11, food and fuel price spike and the credit crunch. They have revealed the international system’s failure to manage collective risks. We could also add climate change, especially after the disappointment of Copenhagen. Alex provides a new take on why the system has failed and suggests some ideas for improving [...] Read more »
