Global Growth Still Made in China


Despite popular talk of a stalling in China’s economy, it is still contributing substantially more than any other nation to global GDP growth. Indeed, the relatively weak and vulnerable global economy is more reliant on the prosperity and performance of China’s economy than ever before, reports Stephen S. Roach, a senior fellow at Yale University’s Jackson Institute of Global Affairs.


Making Hunger History

Human hunger could well be banished to the history books if the key actors can continue to build upon recent progress. With close to eight hundred million people still suffering through food shortages worldwide, there is still a long way to go, but the attainment of this crucial ambition could well be closer than ever, reports Kofi Annan, former General Secretary of the United Nations.


Leadership Icons of a Globalised World

In the current global political context, we are approaching a stand-off similar to, if not quite to the extent of, the post-World War I Mussolini-Lenin match up, according to Harold James, Professor of History and International Affairs at Princeton University. This is best represented by the opposing approach of German Chancellor Angela Merkel and Russian President Vladimir Putin. Although calls for violent action are not so forthcoming as the 1920’s, there is still a real choice between inclusive integration and exclusive disintegration.


Universal Health Coverage Key to Africa’s Prosperity

After the sixth Tokyo International Conference on African Development in Nairobi, Kenya, last week, Africa needs to make a stern commitment to achieving universal health coverage (UHC). Such an initiative requires a fundamental shift in the provision of healthcare – from one that punishes the poorest to one that ensures their security. Not only is access to adequate healthcare a fundamental human right, but too UHC can be a driving force for more prosperous economies across the continent, reports Jim Yong Kim, President of the World Bank Group.


From Singular Focus to Multifaceted Approach in Industrialization

Ethiopia’s industrialisation ambitions have entered a new phase with the inauguration of the Hawassa Industrial Park, which somewhat slipped under the radar as a result of recent regional tensions. Despite the positives of such an initiative, a multi-faceted and flexible approach is crucial in ensuring positive outcomes. Equally, despite the importance of attracting foreign direct investment, the inclusion and ownership of local populations is also a key component, reports Getachew T. Alemu, a business development consultant and former OP-ED Editor of Fortune. Singularity in thinking will not suffice.


Why Ethiopian Banks Should Embrace Advanced Technologies

Inefficiency is limiting in any industry, but banks especially need to ensure that they have efficient and cost effective systems in place. Technology is constantly evolving, and Ethiopian banks have to stay ahead of, or at least in line with, the curve in order to progress. IT infrastructure, and especially with regards banks’ data centres, is one area where new technology can have a hugely positive impact, reports Bahru Mossa, an IT consultant.


Complex Playing Field of Sports Economics

With the Rio Olympics having recently ended, the conversation returns to the economic benefits such mega sporting events can have on the host country. This has long been debated, with some claiming that such impacts are exaggerated ore even completely non-existent. Indeed, there are instances where host countries have seen their economy. Though Ethiopia is far from ready to be an Olympic host, it should start to take advantage of the potential economic benefits of continental and regional sporting events, reports Hibamo Tagesse, an economist.


Meeting Africa’s Universal Health Challenge

A shocking 100 million people globally are pushed into poverty as a result of their healthcare expenditure. Yet, universal health coverage is a possibility in Africa, as has been proven by Malawi. With the Tokyo International Conference on African Development (TICAD) taking place in Nairobi on 27-28 August, now is the time for the continent to make real commitments to universal health coverage, according to Graça Machel, a Mozambican politician and humanitarian, and Ricardo Lagos, the former president of Chile.


The False Economic Promise of Global Governance

Although anti-globalisation stances have gathered more traction of late, the vast majority of the global elite still follow the mantra of global solutions for local problems, according to Dani Rodrik, author and Professor of International Political Economy at Harvard University. Despite a solid rationale for such a stance on issues such as climate change, it is far less an efficient, or indeed effective, approach when it comes to vast swathes of economic policy.


Drink Driving to an Early Grave

It was brought to my attention by our driving instructor back in 2010 that Ethiopia ranks at the top of the World’s Car Accidents index. It makes me wonder why…


Globalisation and its New Discontents

Globalisation, as a socio-economic philosophy, has been under increasing pressure of late. This has been especially visible in the US and the UK, where the popularist Trump movement and the Brexit vote, respectively, signalled clear rebellions against the neoliberal approach. The issue is, to put it simply, that it has for too long favoured the world’s plutocrats while stagnating growth in most other sectors of society. What is now imperative, according to Joseph E. Stiglitz, a Nobel laureate in economics, University Professor at Columbia University and Chief Economist at the Roosevelt Institute, is that the rules of the game are rewritten to the greater benefit of all.


Price War Leads to Bankruptcy

As the number of insurance companies rises in the country and the competition between them heats up, pricing insurance products and services seems to be taken lightly with no scientific approach consideration. Price wars, which seem to have engulfed the Ethiopian insurance sector at the moment, will eventually lead firms to bankruptcy, ASSEGED G. MEDHIN argues.


Is an Ethiopian Deposit Insurance Scheme Premature?

With the possibility of introducing a deposit insurance scheme (DIS) in Ethiopia currently being discussed, Abdulmena Mohammed Hamza, an accounts manager at Portobello Group, based in London, discusses its suitability in light of the nation’s current financial climate. Such a scheme is commonplace across numerous countries globally, but is more often associated with highly liberalised financial industries – which is not the case currently in Ethiopia. Questions are also raised over how effective it would be and whether its establishment would lead to a moral hazed among both banks and their consumers.


New Era of Displacement is Rising

As the number of refugees reaches record numbers unseen since the second world war, environmental and climate-induced migration is proving a major challenge driving people away from their homes. Currently, environmental distress causes one person to be displaced every second of every day. While the number of displacement of people due to climate change increases, Seble Samuel, writes there are many legal gaps in the provision of protection for the mobility of peoples forcibly displaced by environmental hazards.


The Globalisation Disconnect

Globalisation is being challenged like never before – firstly by Brexit and currently by the rise of Donald Trump in the US. One major cause of such opposition, according to Stephen S. Roach, a faculty member at Yale University and former Chairman of Morgan Stanley Asia, is the antiqued understanding and approach to what is a rapidly shifting, and extremely complex, reality. One major oversight in what the author calls Globalisation 2.0 – the second key phase of the movement – is the failure to understand and account for worker backlash. Concrete solutions are desperately required to prevent its complete collapse.


Credible Companies Can End Customs’ Quality Quandary

The decision to exclusively utilise the Government-owned conformity assessment service provider (Ethiopian Conformity Assessment Enterprise (ECAE) for mandatory standards inspections at Ethiopia’s ports is illogical, according to an expert whose name is withheld upon request. Not only does this unnecessarily extend the processing time, but it too has a number of gaps, which have led to the acceptance of third-party certification on certain goods. Internationally credible third-party service providers should be used to improve both the speed and coverage of checks.


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