To live in a small island state today is to reckon regularly with the cruelest irony of climate change. Islands contribute little to global warming, but they are the first to suffer from its devastating effects and the least equipped to manage them.
The policy interest rates of advanced-country central banks are stuck at uncomfortably low levels. And not just for the moment: a growing body of evidence suggests that this awkward condition is likely to persist.
The current backlash against globalization, most notably from working-class citizens in advanced economies who are worried about stagnant wages and insecure jobs, highlights how the benefits of global economic integration were oversold, and its costs undercounted.
Continuous declines in international education aid are depriving half of all young people in the developing world – some 800 million children – of the education they will need to secure meaningful employment in the future.
In the latest Mercer Quality of Living City Rankings, the highest-ranked African city, Port Louis, Mauritius, comes in at 83rd out of 231. That appears to be in keeping with a broader pattern: in terms of the quality of life in its cities, Africa lags behind most other world regions.
Debates about inflation in advanced economies have changed remarkably over the past decades. Setting aside (mis)measurement issues, concerns about debilitatingly high inflation and the excessive power of bond markets are long gone, and the worry now is that excessively low inflation may hamper growth.