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Author Archive | C.P. Chandrasekhar

Source for Figures 1-3: The State of Food Insecurity and Nutrition in the World 2020, FAO and others

Hunger, again

The world has been preoccupied with the COVID-19 pandemic, and this has also affected policymakers everywhere. There is much more recognition today of the terrible effects of underfunding public health over decades and how this affects the resilience of economies and societies.

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Enrique Mendizabal - WTO

End of the free trade myth

“Is that a big deal?”, some may ask. It is to those who have pushed for achieving the far-reaching liberalisation of trade in an unequal global order, first under the General Agreement on Tariffs and Trade (GATT), and then under the auspices of the agreements that established the WTO and defined and expanded its remit.

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us federal reserve

A rate cut that failed to please

On 31 July, the United States Federal Reserve System (U.S. Fed) announced its decision to cut its benchmark short-term interest rate by one quarter of a percentage point to a target range between 2% and 2.25%. It also announced that it would put an end to its policy of selling chunks of its holdings of […]

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Free trade is corporate tyranny

Hype and facts on free trade

Voices questioning the claim that nations and the majority of their people stand to gain from global trade are growing louder. The one difference now is that the leading protagonist of protectionism is not a developing country, but global hegemon United States under Donald Trump.

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At an establishment in Sydney, Australia, that accepts payment in bitcoin.

Making merry on bitcoin

Bitcoin has left the world of finance gasping. Although the total market value of all that cryptocurrency in circulation is only a fraction of the value of the world’s financial assets, the rapid rise in the value of the currency has made it the most wanted of those assets. On January 1, 2017, the currency […]

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Foreign Banks or Foreign Capital?

One less emphasised lesson from the global financial crisis was that developing countries that are successful in attracting foreign financial investors take a hit when such a crisis occurs because of a reverse flow of capital.  Foreign financial firms needing to cover losses or meet commitments at home withdraw their capital, generating a credit crunch […]

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Trading Growth for Inflation

Earlier this month all eyes were on Reserve Bank Governor Duvvuri Subbarao.  Every statement of his was read as signalling whether he would raise interest rates and by how much he would do so this time.  With the economy having bounced back and GDP growth approaching previous peaks, the presumption was that the focus of […]

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India: Growth for Whom?

The year 2010 would be remembered as a scam-tainted year when allegations of corruption, both public and private, were difficult to keep track of.  Overwhelmed by these allegations, the government has attempted to focus on the fact that India is among the fastest growing countries in the world.  But even that boastful claim has been […]

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Playing the Currency Blame Game

The slanging match over currency and monetary policies at the annual Fund-Bank meetings, held over the second weekend of October, points to the disarray in global economic governance.  While the US sought to mobilise IMF support for an effort to realign exchange rates and ensure an appreciation of the renminbi in the wake of China’s […]

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