Guyana and the Wider World

Last week I concluded my rather extended discussion on the current global economic crisis and the lessons to be learnt from this.

Several readers have expressed surprise and disappointment on reading in last Sunday’s column that the G20, which includes so many former champions of poor countries in the global economy are now flagrantly doing what the rich G7 countries had been doing for decades previously.

In last Sunday’s column I had described the many pledges made in the past by rich countries to come to the aid and support of poor countries as the ‘fool’s gold’ of international economic diplomacy.

Guyana and the wider world CARICOM and the G20 In my column last week I was at pains to acknowledge the astounding rise of the G20 grouping of countries to the undisputed lead position in international efforts to contain the global economic recession, financial crisis and credit crunch.

Recap Last week’s column responded to three queries readers had raised in regard to my earlier discussion on trade.

Guyana and the wider world Last week I indicated that I would respond to three queries which readers have raised, before turning to evaluate the trade policy proposals of the G20 for resolving the current economic crisis and hopefully establishing a secure platform for the robust resumption of global trade.

Why Trade Matters At times of global economic and financial crisis keeping trade open matters in this the new age of explosive globalisation.

In the coming weeks I shall seek to establish why it is I believe that trade policy, at the global and national levels, represents the third and final important lesson to come out of recent worldwide efforts to cope with the global economic recession, financial crisis and credit crunch (squeeze).

Guyana and the wider world Optimism The current state of the global economic crisis, one year after the financial meltdown of last September (2008), provides a crucial backdrop for consideration of the third, and final lesson to be learnt from global and national efforts to cope with economic recession, financial crisis and the credit squeeze.

Four concerns In last week’s consideration of the pros and cons of conditional cash transfers as a policy tool for fighting the increased poverty and economic distress occasioned by the global economic crisis I referred to the results of impact evaluations of these schemes, mainly in Africa and Latin America.

Guyana and the wider world Within the international economic community there is a growing consensus that the worst is over.

Guyana and the wider world Expansionary impact Expansionary impact We saw last week that despite the high level of recognition readers have for stimulus packages as an economic policy tool, what it takes to make government spending a true stimulus is not widely recognised.

Guyana and the Wider World E – mail address: [email protected] Readers requests Eight years ago the then SN editor-in-chief, David de Caires, ask-ed me to contribute a regular Sunday column under the general rubric: ‘Guyana and the Wider World.’

Pain and suffering Over the past year, the full-blown effects of the global financial and economic crisis, have led to unprecedented pain and suffering across the global economy.

Guyana and the wider world In last week’s column (July 26) I had urged the importance of the symbolism for developing countries, which the United Nations Conference on the Global Financial and Economic Crisis held in New York, last June represented.

Guyana and the wider world I have been arguing for weeks now that the present global economic crisis coming on top of the food and fuel crisis of 2007-2008, requires a global effort to resolve it.

Wanted: A United Nations Economic Security Council G20 – leading the charge In last week’s column I argued that the global economic crisis had become very complex, involving immense human and social suffering, thereby constituting a grave threat to past global developmental efforts. 

Guyana and the Wider World E – Mail address [email protected] Observations Last week’s column sought to make three major observations about the ongoing global economic crisis.

The global economy: Economic recovery or more misery Last week’s column diverted to treat with the recent disclosures about the CL Financial and Stanford International Groups.

Guyana and the wider world Because of spectacular developments in the ongoing scandals surrounding the CL Financial (Trinidad) and Stanford International (Antigua) Groups and the involvement of local Guyanese enterprises, I will postpone last week’s promise to continue the discussion on whether there are reliable signs of recovery from the global economic crisis, as seen from the perspective of developing countries.