International Development

On its own

The euro zone crisis rumbles on. Just when European policymakers reach a semblance of consensus, further twists emerge, rendering each action one step behind the rapidly unfolding events.

Thursday, 12 July, 2012, 12:00am

Beijing lowers expectations as demand slumps

Vice-Premier Wang Qishan has warned China may miss its target for trade growth this year, underscoring growing concern about the slowing global economy.

The forecast of slowing exports from the world's second-biggest economy came as Christine Lagarde, managing director of the International Monetary Fund (IMF), said the global economy had worsened.

7 Jul 2012 - 12:00am

World Bank's new chief needs vision to reclaim global view

Can Dr Jim Yong Kim heal the World Bank or, if not, do something to alleviate the ills of a world reeling under economic and environmental pressures to which the established politicians have no answer?

30 Jun 2012 - 12:00am

BRICS should get bigger say in IMF

The growing financial might of China and the other nations of the BRICS group is well known, but underappreciated. Their US$85 billion pledge this week to the International Monetary Fund's crisis-fighting reserves for Europe make plain just how important they have become.

22 Jun 2012 - 12:00am

The case against austerity growing

It is not long since Premier Wen Jiabao urged Europe to put its house in order in return for help with its debt crisis. Now Europe is a house divided by a groundswell of popular resistance to deficit-cutting austerity.

28 Apr 2012 - 12:00am

In India, progress is a matter of perspective

When distinguished foreign policy expert, and former US national security adviser, Zbigniew Brzezinski told me a couple of years ago that he worried about the stability of India, I thought he was way off-track. I was living in Calcutta at the time; democracy seemed to be thriving and most of the country was developing fast.

9 Apr 2012 - 12:00am

BRICS can build a better world

It is impossible to ignore the incongruity of the economically troubled US and Europe having a monopoly on the leadership of premier development institutions the World Bank and International Monetary Fund. The annual summit in New Delhi last month of the BRICS nations - Brazil, Russia, India, China and South Africa - made that seem doubly so.

8 Apr 2012 - 12:00am

BRICS want say at global banks

Leaders of the BRICS countries expressed their frustration yesterday over the slow pace of reforms to give emerging markets better representation in global banks, saying reforms had not lived up to the expectations of the developing world.

30 Mar 2012 - 12:00am

BRICS need to make a stand

They are very different countries with very varying interests. However, there is one outstanding issue where the BRICS could bring their joint clout together to make a difference. The issue concerns who should take over from Dr Robert Zoellick as the next president of the World Bank in mid-year. For once there is a contest, with three candidates, two of them nominated by BRICS countries.

29 Mar 2012 - 12:00am

IMF predicts soft landing ... with advice for Beijing

China's economy is sailing safely towards a soft landing, but it needs to move away from its export and investment-driven growth focus if it wishes to maintain vitality, according to the International Monetary Fund.

20 Mar 2012 - 12:00am

Chinese economist lands key IMF secretary post

International Monetary Fund managing director Christine Lagarde has named Chinese economist Jianhai Lin as the fund's secretary.

9 Mar 2012 - 12:00am

Protester shouts down zoellick

A man disrupted a press conference by World Bank president Robert Zoellick in Beijing yesterday to protest against recommendations that the government reduce its intervention in the economy and encourage private participation.

29 Feb 2012 - 12:00am

Thrust issues

In the past 20 years, China has powered ahead economically, as if it propelled by some experimental jet engine. Yet it has achieved this without being especially experimental and without the government losing much control. While other developing countries have watched their plans misfire, lurching forwards for a while and then stalling, China has mostly cruised ahead, outperforming them all.

20 Feb 2012 - 12:00am

Rise of the pain pushers

As the pungent aroma of tear gas swirled around the Greek parliament, the government finally managed to push through a string of austerity measures demanded by its creditors. No one questions the amount of serious pain these measures will inflict, but will there really be any gain?

20 Feb 2012 - 12:00am

More money for science, technology in farms plan

Investment will be boosted in agricultural science and technology, including seed breeding and farm machinery, in the coming year to increase production amid rapid urbanisation, state media reported.

29 Dec 2011 - 12:00am