Yet another massive leak of offshore banking documents has revealed the remarkable extent of the world’s “parallel economy”, in which a large and growing proportion of global wealth is secretly stashed away in a complex and opaque network of tax havens.
In addition to the obvious diversion of literally trillions of dollars of capital that could be better spent alleviating the needless suffering of billions (with plenty left over to spare), this development is arguably a threat to democratic governance the world over, as Matt Phillips at Viceargues. Continue reading →
It is safe to say that most people want greater well-being in their lives, but as with concepts like happiness or success, it is often loaded and subjective — albeit up to a point. Wealth is certainly a big factor, if not the biggest, but so are — generally speaking — civil rights, a healthy environment, personal safety, and social support.
Predicating well-being on these and other inputs, the Boston Consulting Group (BCG) conducted the “Sustainable Economic Development Assessment” (SEDA), which measures which countries in the world provide the most well-being to their inhabitants. The results were based on over 50,000 data points spanning three broad metrics and ten “dimensions of well-being”: economics (which includes income, economic stability, and employment); investment (health, education, and infrastructure) and sustainability (socioeconomic inequality, civil society, governance, and environment). Continue reading →
According to the latest estimates by the United Nations, within the next three decades, the world’s population will increase from 7.3 billion to 9.7 billion. By the end of the century, it will rise by another 2 billion, although at a slower rate than in the previous two centuries.
The following infographic from The Economistprovides a vivid depiction of how this growth is highly uneven, with Africa and Asia accounting for most of it.
Note how the U.S. will be the only developed country among the twelve most populous by 2050, whereas today more than half of the largest countries by population are in the developed world. Africa alone accounts for more than half of this growth, with its population projected to double to 2.5 billion. Nigeria, the continent’s most populous nation and largest economy, will overtake the U.S. with over 400 million inhabitants, despite being roughly twice the size of California. Continue reading →
Malaria has been a scourge of humanity for thousands of years, and as recently as a century ago, was a problem in almost every country. The GIF below shows how far we have come towards completely eradicating this debilitating disease:
Courtesy of Global Health Sciences, University of California, San Francisco
As recently as the 1950s, developed countries like the U.S. and the U.K. were still dealing with malaria infections; by the 1970s, most wealthy countries had completely wiped it out. Today, over a hundred nations across both the developed and developing world are free of malaria, with nearly thirty others in the process eliminating it. Continue reading →
The United States’ relationship with Latin American has long been a fraught one, not least because the country historically regarded the entire hemisphere as being under its sphere of influence, subject to military interventions, orchestrated coups, and support for dictators.
But as The Economist reports, since the mid-1990s, following the end of the Cold War — and with it, most U.S. meddling — as well as the sweep of democracy and economic growth across most of the region, sentiments have warmed up quite a bit. Continue reading →
According to the 2017 Index of Economic Freedom, conducted annually by the Heritage Foundation, a leading U.S. conservative think tank, the following countries rank the highest in “economic freedom”, which includes factors such as rule of law, property rights, ease of starting and running a business, and regulatory and tax burden:
When it comes to the never-ending debate on America’s health care system, international comparisons abound. The usual point of reference is, naturally, our neighbor to the north, although France, Switzerland, and the U.K. are sometimes invoked as well (the French in particular have been consistently recognized by the WHO as having the best health care in the world).
However, there is no shortage of countries with universal health care systems of some form or another, so why not broaden the scope of these comparative analyses to see what else we can learn? New York Times columnist Ross Douthat did just that with a piece that examines the incredible success and efficiency of the Singaporean model. Continue reading →
In 1980, when it first began to liberalize and open up to the world, China was already the ninth largest economy (albeit due mostly to its sheer size). The embrace of low-cost manufacturing, wherein China in essence became the world’s factory, played a key role in propelling it towards becoming the second largest economy just thirty year later; by some metrics, it has already surprised the United States as the single largest economy.
Now that China is transitioning rapidly towards medium and high-tech industry (akin to developed countries), it is leaving room for another Asian powerhouse to takes its place. According to an article in The Diplomat, the five likeliest contenders are Malaysia, India, Thailand, Indonesia, and Vietnam — the MITI-V, or more colorfully, the”Mighty Five”.
Within the next five years, these nations will rise to be among the world’s fifteen most globally competitive manufacturing countries. This is a critical stage in the advancement of a society’s wealth and prosperity: according to a report from consultancy McKinsey & Company, industrial development “contributes disproportionately to exports, innovation, and productivity growth”. Continue reading →
PwC, a prominent financial services firm better known as PricewaterhouseCoopers, has published a report on the future of the global economy, which is projected to more than double between now and 2050. In the span of just 14 years, today’s 32 largest economies — which together comprise 85 percent of global GDP — will experience highly divergent fortunes, as current heavyweights will cede ground to up and coming powers. Continue reading →