Tag: economy

Country Profile: Somalia

Somalia (NI) – Somalia today is more like a political marketplace than a modern nation-state Somalia today is more like a political marketplace than a modern nation-state. The everyday mayhem and hustle of the capital city, Mogadishu, where political positions and…

Bolivia: an efficaciously prudent economy

Bolivia drives in its own lane, with a GDP growth this year above 4.5%. At a time when the world economy is contracting, with unfavourable winds, the Andean country is sustaining its growth. Why? The reason is very simple. Evo Morales never trusted the cycles of the world economy.

From the beginning of his mandate in 2006, Bolivia built its own economic order. By no means an autarchic one, nor disconnected from the world. On the contrary: an economic model connected to the outside, but in a sovereign and intelligent way. The first step was the nationalization of hydrocarbons, which was fundamental in order to erect their own house. Socially just and economically efficacious. Thus they have broken the myth that any nationalization reduces the capacity for growth. Bolivia quadrupled its nominal GDP in this period. And it continues along its long growth cycle in spite of the international context.

Iran, Turkey Determined to Boost Ties: Envoy

Iranian Ambassador to Turkey Mohammad Ibrahim Taherian underlined the resolve of Tehran and Ankara to broaden and deepen their bilateral ties.

During a recent meeting in the Turkish capital with Head of Turkey’s Ana Vatan Party Ibrahim Celebi, the Iranian envoy said the two countries share numerous commonalities and are on the path toward congruent views on some regional developments.

He stressed that Tehran and Ankara should take on greater responsibilities to resolve ongoing crises in the region.

Denver Launches Program To Give Jobs To Thousands Of Homeless, Supports Other Projects

The election of a Republican President hasn’t seemed to slowed the thump of progressive policies. In Denver, officials are initiating a program aimed at providing thousands of paying jobs to the homeless. A variety of work is included in the plan, launching as similar projects crop up elsewhere.

Initiated on November 1st, “Denver Day Works” hopes to put thousands of the city’s homeless to work. According to Denverite, many assignments include park maintenance, planting trees, clearing snow, etc. Denver Human Services Spokeswoman Julie Smith says they’re aiming for “low to no barriers. No background checks. Do you want work? We’re going to put you to work today.”

The Swedish Case for Limited Government

Sweden punches way above its weight in debates about economic policy. Leftists all over the world (most recently, Bernie Sanders) say the Nordic nation is an example that proves a big welfare state can exist in a rich nation. And since various data sources (such as the IMF’s huge database) show that Sweden is relatively prosperous and also that there’s an onerous fiscal burden of government, this argument is somewhat plausible.

A few folks on the left sometimes even imply that Sweden is a relatively prosperous nation because it has a large public sector. Though the people who make this assertion never bother to provide any data or evidence.

I have five responses when confronted with the why-can’t-we-be-more-like-Sweden argument.

What Can We Expect to See After the Brexit?

On 23 June 2016, the United Kingdom held a referendum on whether the nation should leave the European Union. This historic vote resulted in an unexpected victory for the Leave side, giving the government a mandate to start negotiations to leave the EU. Immediately following this news, financial markets and the Pound Sterling plummeted causing financial chaos around the globe. This reaction demonstrates that the international community is fearful about the impacts of a Brexit. As a result, it is worth exploring the impacts that it is likely to have.

The campaign season leading up to Brexit referendum was arduous and marred by deliberate misinformation, xenophobia, and nativism. After this campaign, the referendum resulted in an unexpected victory for the Leave side, which won 52% of the vote. However, this referendum, which was not legally binding, does not automatically withdraw the UK from the European Union. In order to withdraw, the UK will need a majority vote in Parliament to repeal the web of legislation that allowed the UK to accede to the EU. In addition, the UK will need to invoke Article 50 of the Lisbon Treaty to formally withdraw from the EU. Once Article 50 is invoked the UK will have two years to negotiate the terms of its departure.

Making China Great Again

The final of the World Snooker Championship took place this week in Sheffield, the hardscrabble town in England’s north perhaps best known as the setting for the movie The Full Monte.

Sheffield is a former industrial center so snookered by globalization that the laid-off steel workers in that 1997 film decide to become male strippers to make ends meet. Twenty years later, Sheffield’s steel industry continues to shed jobs, largely because of cheaper steel imports coming from China.

Still, the sector is creating some new jobs as investment is also coming in from…China. Last year, a major Chinese manufacturing conglomerate, CISDI Group, chose Sheffield for its trans-Atlantic headquarters. China thus emerges as the villain and the savior of Sheffield.