Skip to main content

Home/ Global Economy/ Group items tagged decade

Rss Feed Group items tagged

Gene Ellis

China's Hurdle to Fast Action on Climate Change - NYTimes.com - 0 views

  • China’s Hurdle to Fast Action on Climate Change
  • Any hopes that American commitments to cut carbon emissions will have a decisive impact on climate change rely on the assumption that China will reciprocate and deliver aggressive emission cuts of its own.
  • Fast economic growth in China and India is projected to fuel a substantial increase in carbon pollution over coming decades, despite big improvements in energy efficiency and the decarbonization of their energy supply
  • ...6 more annotations...
  • The country accounts for over a quarter of global greenhouse gas emissions.
  • Over the next 20 years, China’s CO2 emissions will grow by an amount roughly equal to the United States’ total emissions today,
  • Even assuming that China’s population does not grow at all over the next 30 years, that the energy efficiency of its economy increases at a faster pace than most developed and developing countries and that it manages to decarbonize its energy sources faster than pretty much anybody else, China would still be emitting a lot more carbon in 2040 than it does today, according to E.I.A. calculations.
  • Can the United States or anybody else do anything to speed China down a low-carbon path?
  • The latest report from the United Nations Intergovernmental Panel on Climate Change, issued in April, suggested several ways to allot responsibilities. If one starts counting in the 18th century and counts only emissions from industry and energy generation, the United States is responsible for more than a quarter of all greenhouse gases that humanity has put into the air. China, by contrast, is responsible for 10 percent.But if one starts counting in 1990, when the world first became aware that CO2 was a problem, and includes greenhouse gases emitted from changes in land use, the United States is responsible for only 18 percent, and China’s share rises to 15 percent. Rich and poor countries, unsurprisingly, disagree on the proper measure. Photo
  • Not everybody will meet their Copenhagen pledges. Japan, which unplugged its nuclear energy after the disaster at the Fukushima nuclear power plant, will fall behind. So will Canada and Australia, whose new conservative governments have lost interest in the pledges of their predecessors.
Gene Ellis

Traffic Snarls Expected in Europe as Taxi Drivers Protest Against Uber - NYTimes.com - 0 views

  • Traffic Snarls Expected in Europe as Taxi Drivers Protest Against Uber
  • Several of Europe’s largest cities were snarled by traffic jams on Wednesday when thousands of taxi drivers blocked roads and held rallies in protest of ​an upstart​ American​ service that lets customers book rides through smartphones.
  • Founded in 2009
  • ...6 more annotations...
  • Before the protest in London, Uber said on Wednesday that it had opened up its booking platform so that the city’s black taxis, which previously were not included in the start-up’s system, could now take bookings through the smartphone app.
  • Europe’s taxi operators will demand that local lawmakers clamp down on the California-based Uber, which now operates in 100 cities in 36 countries.
  • “In Paris, the number of taxis hasn’t changed since the 1950s,” said Pierre-Dimitry Gore-Coty, Uber’s regional general manager for Northern Europe. “The strikes are an attempt to desperately fight against competition in the market.”
  • France has been one of Uber’s toughest battlegrounds. Faced with protests by the powerful local taxi industry, which has been closed to competition for decades, the government in December sought to curb the rise of Uber and rival upstarts by forcing the car services to wait 15 minutes after receiving a request before picking up a client.
  • They also say the company’s technology, which allows drivers to ​use a smartphone-like device to ​calculate fares based on time and distance, breaks local laws. The city’s authorities have asked a local court to rule on that issue.
  • Partly, London taxi drivers resent the idea of G.P.S.-equipped freelancers presuming to practice their time-honored craft.
Gene Ellis

Global flows in a digital age | McKinsey & Company - 0 views

  • Global flows in a digital age
  • Now, one in three goods crosses national borders, and more than one-third of financial investments are international transactions. In the next decade, global flows could triple,
  • Exchanges of goods such as aircraft and automobiles, semiconductors, pharmaceuticals, and microelectronics, as well as professional services and foreign direct investment flows, are growing faster than others.
  • ...4 more annotations...
  • we find that countries with a larger number of connections in the global network of flows increase their GDP growth by up to 40 percent more than less connected countries do. The penalty for being left behind is rising.
  • Digital technologies, which reduce the cost of production and distribution, are transforming flows in three ways: through the creation of purely digital goods and services, “digital wrappers” that enhance the value of physical flows, and digital platforms that facilitate cross-border production and exchange.
  • Developing economies now account for 38 percent of global flows, nearly triple their share in 1990. S
  • oday, digital technologies enable even the smallest company or solo entrepreneur to be a “micromultinational,” selling and sourcing products, services, and ideas across borders. Individuals can work remotely through online platforms, creating a virtual people flow. Microfinance platforms enable entrepreneurs and social innovators to raise money globally in ever-smaller amounts.
Gene Ellis

Picking Lesser of Two Climate Evils - NYTimes.com - 0 views

  • Picking Lesser of Two Climate Evils
  • ound for pound, methane is a far more potent greenhouse gas than carbon dioxide. But in stark contrast to CO2, methane breaks down quickly in the atmosphere.
  • He argues, essentially, that the world has yet to mount a serious effort to control carbon dioxide, which will be vastly more harmful in the long run, and that methane and other short-term pollutants should largely be ignored until that bigger problem is fixed.
  • ...4 more annotations...
  • The methane is like a hangover that you can get over if you stop drinking,” said Raymond T. Pierrehumbert, a climate scientist at the University of Chicago and the author of a textbook on planetary atmospheres. “CO2 is more like lead poisoning — it sticks around, you don’t get rid of it, and it causes irreversible harm.”
  • Aggressively controlling methane, they say, would help slow the warming sharply over the coming decades.
  • By contrast, “our success in controlling CO2 emissions is likely to make very little difference on temperature over the next 40 years,” said Drew Shindell, a longtime NASA climate scientist who is leaving for Duke University.
  • Experts say that, looking at the more distant future, it is hugely important to keep carbon dioxide out of the atmosphere now, even if that requires burning more gas. Dr. Pierrehumbert and Dr. Shindell largely agree on this point, with Dr. Pierrehumbert discounting the gas-is-worse-than-coal argument as “bunkum.”
Gene Ellis

Gazprom Cuts Russia's Natural Gas Supply to Ukraine - NYTimes.com - 0 views

  • The gas flowing into Ukraine as of Monday was meant only to transit the country to Europe. “Gazprom supplies to Ukraine only the amount that has been paid for, and the amount that has been paid for is zero,” Gazprom’s spokesman, Sergei Kupriyanov, told reporters.
  • Gazprom, which has sought for the past decade to convince the Europeans that it is a reliable supplier and not an arm of Russian foreign policy, painted the dispute as strictly commercial.
  • Second, Gazprom has provoked economic ire in Europe over its plans to build an alternative gas route under the Black Sea for the company’s exclusive use, contradicting Europe’s open access laws. That has put the future of what is known as the South Stream pipeline in doubt.
  • ...1 more annotation...
  • About a fifth of the European Union’s supply of natural gas flows through Ukraine. Ukraine itself imported from Russia 63 percent of the natural gas it consumed in 2012, producing the remaining 37 percent domestically, according to the United States Energy Information Agency.
Gene Ellis

IRIN Africa | GUINEA: Winners and losers in Guinea's bauxite industry | Guine... - 0 views

  • GUINEA: Winners and losers in Guinea’s bauxite industry
  • “Rather than making people richer, mining has made them poorer,” said Akoumba Diallo, a mining sector researcher. “It polluted their environments so they can’t grow crops or let animals feed near mining sites. And it is hard to get water anywhere because it’s contaminated.” With mining contributing to 85 percent of the country’s external revenue, and the World Bank estimating investments of up to US$20 billion in bauxite mining in Guinea over the next decade, the government is currently rewriting and renegotiating its mining contracts - unchanged for 25 years - with 15 companies to ensure Guineans are more likely to benefit from the wealth they spawn.
  • Mining companies are legally obliged to pay taxes to owners of the land they mine,
  • ...3 more annotations...
  • “We have been paying US$100,000 in annual taxes directly to the Kindia prefecture,” he told IRIN. “The distribution of the money rests with them according to the needs they have identified in Mambia.”
  • Seeing this for themselves, the CBK became concerned that the money was not being well spent, according to Cirra Dieng, communications officer at the CBK, and withdrew its payments in 2007 awaiting some explanation. They are still waiting.
  • The EITI has set up a monitoring committee made up of government representatives, mining companies and civil society to push mining companies to publish what they pay and the government to disclose what it receives at the state, prefecture and CRD level. So far it has done so for six mining companies, including the CBK.
Gene Ellis

Blueprints for Taming the Climate Crisis - NYTimes.com - 0 views

  • Blueprints for Taming the Climate Crisis
  • Within about 15 years every new car sold in the United States will be electric. In fact, by midcentury more than half of the American economy will run on electricity. Up to 60 percent of power might come from nuclear sources. And coal’s footprint will shrink drastically, perhaps even disappear from the power supply.
  • “This will require a heroic cooperative effort,” said Jeffrey D. Sachs, the Columbia University economist who directs the Sustainable Development Solutions Network at the United Nations,
  • ...8 more annotations...
  • The teams, one in each of the 15 countries, looked at what would be necessary to keep the atmosphere from warming more than 2 degrees Celsius, 3.6 degrees Fahrenheit, above the preindustrial average of the late 19th century, a target that most of the world committed to at the climate summit meeting in Copenhagen five years ago.
  • To do so, CO2 emissions from industry and energy use would have to fall to at most 1.6 tons a year for every person on the planet by midcentury.
  • That is less than a tenth of annual American emissions per person today and less than a third of the world average
  • Lacking any understanding of the feasibility of the exercise, governments postured and jockeyed over which country should be responsible for what
  • This is not achievable by going after low-hanging fruit, such as replacing coal with natural gas in power plants.
  • The decarbonization paths rely on aggressive assumptions about our ability to deploy new technologies on a commercial scale economically.
  • Russia, for instance, hit the target. But Oleg Lugovoy of the Environmental Defense Fund, who worked on the Russian plan, observed that “if we don’t have carbon capture and storage we would have to reconsider.”
  • it does not do away with the main hitch that has stumped progress for decades: How much will this all cost and who will pay for it?
Gene Ellis

The Economist explains: Why airlines make such meagre profits | The Economist - 0 views

  • Why airlines make such meagre profits
  • In those six decades passenger kilometres (the number of flyers multiplied by the distance they travel) have gone from almost zero to more than 5 trillion a year. But though the industry has done much to connect the world, it has done little to line the pockets of the airlines themselves. Despite incredible growth, airlines have not come close to returning the cost of capital, with profit margins of less than 1% on average over that period. In 2012 they made profits of only $4 for every passenger carried. Why has a booming business failed to prosper?
  • Airlines were state-owned beasts in receipt of juicy handouts from state coffers. These “flag carriers” were regarded as important strategic businesses with monopoly powers that conferred national pride and international prestige. But they rapidly turned into bloated nationalised industries that regarded profit as a dirty word.
  • ...3 more annotations...
  • Air travel was governed by inter-governmental deals that dictated which airlines could fly where, how many seats they could offer and, in many cases, what fares they could charge. The result was inefficiency and losses.
  • Low-cost carriers, such as SouthWest and Ryanair, introduced cut-throat rivalry on short-haul routes. Former flag-carriers struggled with the legacy of older fleets, large networks, uppity unionised workforces and vast pension liabilities. Low-cost carriers devastated their model of feeding short-haul passengers onto more lucrative long-haul services.
  • As well as stiff competition from their rivals, airlines face the problem that there is little competition in the industries that supply them. Two firms—Airbus and Boeing—provide the majority of the planes, and airports and air-traffic control are monopolies
Gene Ellis

Sub-Saharan Africa's Subprime Borrowers by Joseph E. Stiglitz and Hamid Rashid - Projec... - 0 views

  • Taking the lead in October 2007, when it issued a $750 million Eurobond with an 8.5% coupon rate, Ghana earned the distinction of being the first Sub-Saharan country – other than South Africa – to issue bonds in 30 years.
  • Nine other countries – Gabon, the Democratic Republic of the Congo, Côte d’Ivoire, Senegal, Angola, Nigeria, Namibia, Zambia, and Tanzania – followed suit. By February 2013, these ten African economies had collectively raised $8.1 billion from their maiden sovereign-bond issues, with an average maturity of 11.2 years and an average coupon rate of 6.2%. These countries’ existing foreign debt, by contrast, carried an average interest rate of 1.6% with an average maturity of 28.7 years.
  • So why are an increasing number of developing countries resorting to sovereign-bond issues? And why have lenders suddenly found these countries desirable?
  • ...9 more annotations...
  • recent analyses, carried out in conjunction with the establishment of the new BRICS bank, have demonstrated the woeful inadequacy of official assistance and concessional lending for meeting Africa’s infrastructure needs, let alone for achieving the levels of sustained growth needed to reduce poverty significantly.
  • the conditionality and close monitoring typically associated with the multilateral institutions make them less attractive sources of financing. What politician wouldn’t prefer money that gives him more freedom to do what he likes? It will be years before any problems become manifest – and, then, some future politician will have to resolve them.
  • So, are shortsighted financial markets, working with shortsighted governments, laying the groundwork for the world’s next debt crisis?
  • he risks will undoubtedly grow if sub-national authorities and private-sector entities gain similar access to the international capital markets, which could result in excessive borrowing.
  • Nigerian commercial banks have already issued international bonds; in Zambia, the power utility, railway operator, and road builder are planning to issue as much as $4.5 billion in international bonds.
  • Signs of default stress are already showing. In March 2009 – less than two years after the issue – Congolese bonds were trading for 20 cents on the dollar, pushing the yield to a record high. In January 2011, Côte d’Ivoire became the first country to default on its sovereign debt since Jamaica in January 2010.
  • In June 2012, Gabon delayed the coupon payment on its $1 billion bond, pending the outcome of a legal dispute, and was on the verge of a default. Should oil and copper prices collapse, Angola, Gabon, Congo, and Zambia may encounter difficulties in servicing their sovereign bonds.
  • They need not only to invest the proceeds in the right type of high-return projects, but also to ensure that they do not have to borrow further to service their debt.
  • But borrowing money from international financial markets is a strategy with enormous downside risks, and only limited upside potential – except for the banks, which take their fees up front. Sub-Saharan Africa’s economies, one hopes, will not have to repeat the costly lessons that other developing countries have learned over the past three decades.
Gene Ellis

Singapore, the Nation That Lee Kuan Yew Built, Questions Its Direction - NYTimes.com - 0 views

  • Singapore, the Nation That Lee Kuan Yew Built, Questions Its Direction
  • Battling a low birthrate among its citizens, the government opened the floodgates to foreign labor over the past decade and a half. More than a third of the 5.5 million people living in Singapore today are not citizens.The number of nonresident immigrants has more than doubled since 2000, to nearly 1.6 million from 754,000. The number of foreigners given permanent resident status also nearly doubled during the same period, to just over 500,000.
« First ‹ Previous 41 - 50 of 50
Showing 20 items per page