7 Items

Blog Post - Views on the Economy and the World

Addressing Commodity Price Volatility in Algeria & Morocco

| June 11, 2016
I recently visited Algeria and Morocco.  Like so many other developing countries, they are dealing with the sharp decline in global commodity prices that has taken place over the last few years.  In meetings in Algiers and Casablanca, I offered four concrete ideas for policies to help commodity-exporting countries deal with global price volatility.  The four proposals, very briefly, are: (1) hedging with options (as Mexico does), (2) commodity bonds, (3) countercyclical fiscal institutions (like Chile’s), and (4) central bank targeting of a currency-plus-commodity basket.

Blog Post - Views on the Economy and the World

Fiscal Education for the G-7

| May 26, 2016
As the G-7 Leaders gather in Ise-Shima, Japan, on May 26-27, the still fragile global economy is on their minds.  They would like a road map to address stagnant growth. Their approach should be to talk less about currency wars and more about fiscal policy.Fiscal policy vs. monetary policyUnder the conditions that have prevailed in most major countries over the last ten years, we have reason to think that fiscal policy is a more powerful tool for affecting the level of economic activity, as compared to monetary policy.

Former Singapore Prime Minister Lee Kuan Yew attends the Clinton Global Initiative Asia Meeting in Hong Kong Tuesday, Dec 2, 2008.

AP Photo/Kin Cheung

Newspaper Article - The Times of India

India is a Nation of Unfulfilled Greatness

| February 2, 2013

Read an excerpt in The Times of India from a new book on Lee Kuan Yew by Belfer Center Director Graham Allison and Ambassador Robert D. Blackwill, with Belfer Center Associate Ali Wyne. The book is titled: Lee Kuan Yew: The Grand Master's Insights on China, the United States, and the World.

Blog Post - Views on the Economy and the World

Escaping The Oil Curse

| Dec. 15, 2011
Libyans have a new lease on life, a feeling that, at long last, they are the masters of their own fate. Perhaps Iraqis, after a decade of warfare, feel the same way. Both countries are oil producers, and there is widespread expectation among their citizens that that wealth will be a big advantage in rebuilding their societies.Meanwhile, in Africa, Ghana has begun pumping oil for the first time, and Uganda is about to do so as well. Indeed, from West Africa to Mongolia, countries are experiencing windfalls from new sources of oil and mineral wealth.

Blog Post - Views on the Economy and the World

Escaping the Oil Curse

| Dec. 15, 2011
Libyans have a new lease on life, a feeling that, at long last, they are the masters of their own fate. Perhaps Iraqis, after a decade of warfare, feel the same way. Both countries are oil producers, and there is widespread expectation among their citizens that that wealth will be a big advantage in rebuilding their societies.Meanwhile, in Africa, Ghana has begun pumping oil for the first time, and Uganda is about to do so as well. Indeed, from West Africa to Mongolia, countries are experiencing windfalls from new sources of oil and mineral wealth.

Blog Post - Views on the Economy and the World

Barrels, Bushels & Bonds: How Commodity-Exporters Can Hedge Volatility

| Oct. 20, 2011
The prices of minerals, hydrocarbons, and agricultural commodities have been on a veritable roller coaster. Although commodity prices are always more variable than those for manufactured goods and services, commodity markets over the last five years have seen extraordinary volatility.Countries that specialize in the export of oil, copper, iron ore, wheat, coffee, or other commodities have boomed.  But they are highly vulnerable. Dollar commodity prices could plunge at any time, as a result of a new global recession, a hard landing in China, an increase in real interest rates in the United States, fluctuations in climate, or random sector-specific factors.

Young women shop for China-made plastic flowers in a store opened by Chinese businessmen in Bissau, Guinea-Bissau, Jan. 3, 2007. In Africa, China has found a huge market for its cheap goods and the natural resources it needs to sustain its growth.

AP Photo

Newspaper Article - that's China

Exploring the Sino-African Relationship: Both Sides Have Something to Offer

| February 2, 2008

China's Ministry of Science and Technology launched the China-Africa Science and Technology Partnership on November 24, 2009.  The ministry announced that technological cooperation will be enhanced in areas such as water management and conservation, sanitation, crop breeding, health, and renewable energy. One hundred joint research partnerships will be created, and 100 African scientists at the postdoctoral level will have the opportunity to conduct research at China's technology parks, research institutes, and private enterprises. Chinese scientists and engineers will also travel to African countries to provide technical guidance, and in order to increase the research capacities of African countries, China will also donate laboratory equipment.

Science, Technology, and Globalization Project Director Calestous Juma shared his insights into the history and future of Sino-African relations in a February 2008 interview with that's China columnist Jing Zhang.