What We’re Reading 3/13/09

Mar 13th, 2009 4:25 PM UTC
By Steve Wilson

The Economist—The toxins trickle downward
The Economist writes that the world’s poorest people are being hit not by the global “financial tsunami” itself but by second-order waves of trouble. While the impact has been delayed on the world’s poor—the paper writes—it may also be prolonged. The global meltdown is affecting poor countries in three ways, it says. First, capital and aid: private investment as well as public development aid is dropping; Second, price volatility: commodity prices of African products and resources have plummeted; and third: a decrease in global trade resulting in a toxic job market.

The Economist—Don’t expect a revolution
The Economist also writes that it might seem obvious that American policy towards Africa would change under America’s first African-American president. But while President Obama has set to break with his predecessor in many other foreign policy areas, changes toward Africa will likely be less substantial.

Financial Times—Differing agendas may tip meeting off-track
World business leaders are concerned that the Group of 20 summit in London could founder because of splits between countries with competing agendas. Worries over the summit’s content have been expressed from the US to Asia, adding to doubts over what concrete action will be achieved when world leaders meet on April 2. Business groups have also cautioned against creating a new system of global regulation and said talks to avoid protectionism were crucial.

Financial Times—Africa to use own voice and work with IMF
Jakaya Kikwete, Tanzania’s president, has expressed Africa’s determination to speak for itself at the G20 meeting while welcoming an offer from the International Monetary Fund to help ensure its needs are not ignored. This comes two days after Dominique Strauss-Kahn, IMF managing director, told a conference on the global economic crisis in Dar es Salaam that he could be Africa’s “voice” at next month’s G20 summit.

The Guardian—Global poor must be the G20 priority
Four letters to the editor appearing in the Guardian—some from leaders international NGOs—argue that helping the world’s poorest people and fighting global disease must be priority at the G20 summit.

-Steve Wilson

TAGS: ONE, Policy News, What We're Reading