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From Newsweek
  • Climate Week: Don’t Celebrate Too Soon

    Sharon Begley 9/23/2009 12:00:00 AM

    This is Climate Week here in New York City, so if you have been swept up in the excitement over Hugh Jackman's lending his celebrity to the cause of averting a catastrophic greenhouse effect ("people in developing countries have contributed the least to climate change and are suffering the most from it," he said at Monday's opening ceremony at the New York Public Library), or President Obama's speech at the United Nations Tuesday warning of “irreversible catastrophe" if the nations of the world do not cut carbon emissions, you might feel optimistic that the nations of the world will get their acts together enough to produce a climate treaty to succeed the Kyoto Protocol. Forgive me for being the skunk at this greenhouse-gas-enhanced garden party.

  • The Real Emerging Market

    Rana Foroohar 9/12/2009 12:00:00 AM

    It hasn't been easy to find a bright spot in the global economy for a couple of years now. Growth markets, once as numerous as no-interest mortgage options, have grown scarce. But in the last few months, economists, consultants, and other business types have begun to track the rise of a new emerging market, one that may end up being the largest and most powerful of all: women. According to a new study by the Boston Consulting Group, women are now poised to drive the post-recession world economy, thanks to an estimated $5 trillion in new female-earned income that will be coming on line over the next five years. Worldwide, total income for men ($23.4 trillion) is still more than double that for women ($10.5 trillion), but the gap is poised to shrink significantly because the vast majority of new income growth over the next few years will go to women, due to a narrowing wage gap and rising female employment. That means women will be the ones driving the shopping—and, economists hope, the recovery. That growth represents the biggest emerging market in the history of the planet—more than twice the size of the two hottest developing markets, India and China, combined.

  • China and India Will Pay

    Sharon Begley 8/27/2009 12:00:00 AM

    You can see their point. China and India account for 10 percent and 3 percent, respectively, of the man-made greenhouse gases now in the atmosphere, compared with 75 percent for the developed world (according to data compiled by the World Resources Institute). So why, they ask, should they cut their emissions of carbon dioxide? In July, an Indian official bluntly told Secretary of State Hillary Clinton that his country (the world's fifth-leading greenhouse-gas emitter) would not accept emissions cuts as part of a global climate treaty. China, now the world's No. 1 carbon emitter, has been less belligerently recalcitrant, but in a policy statement demands that developed countries "take responsibility for their historical cumulative emissions and current high per capita emissions to … substantially reduce their emissions" while developing countries pursue "economic development." Read: no emissions cuts here.

  • Will Recovery Go Global?

    Robert J. Samuelson 8/14/2009 12:00:00 AM

    Before we get too giddy about any U.S. economic "recovery," we should remember that the preceding collapse was global. No recovery can succeed unless it, too, is global. Will that happen? The world can no longer rely for growth on free-spending Americans, who are overburdened by debt and sobered by trillions of dollars of losses on homes and stocks. Without a substitute for American buying, any global revival will be feeble, because the U.S. needs export-led growth and other countries must somehow offset their lost sales to the United States.

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    Why Crisis Is Good For Some Powers That Be

    Ruchir Sharma 7/11/2009 12:00:00 AM

    One would think that the worst global economic downturn since the Great Depression would place sitting political leaders in peril. In fact, in many developing countries, it's just the opposite. Ruling parties have been on a roll in Asia, Latin America, and parts of Eastern Europe and face few signs of revolt, despite the slump in global growth. Most recently came the Congress Party's big win in India and, last week in Indonesia, the decisive victory of President Susilo Bambang Yudhoyono, who looked likely to take 60 percent of the popular vote even as the economy slows with the rest of Asia.

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    BRIC Builders

    6/25/2009 12:00:00 AM

    The first summit of leaders from the world's biggest emerging markets ended with demands for a greater voice in the global financial system and a more diversified monetary system. But the inaugural formal gathering of the BRIC (Brazil, Russia, India, and China) nations had a symbolic weight far greater than its closing statements from the Russian city of Yekaterinburg last week. Brazilian Foreign Minister Celso Amorim spoke to Russian NEWSWEEK's Leonid Ragozin at the meeting about BRIC's goals, American unilateralism, Cuba,, and whether the U.S. dollar should remain the world's reserve currency. Excerpts:

 
 
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