What We’re Reading 10/12/09

Oct 12th, 2009 10:45 AM UTC
By Chandler Smith

Reuters: World’s poor see few job benefits from trade boom
The boom in global trade over the last two decades has not improved the quality of most jobs in poorer countries, the World Trade Organisation (WTO) and United Nations labour agency (ILO) said on Monday. Their joint report, whose conclusions may make a new global free trade pact even harder to swallow for some, found most workers in developing countries continue to face low incomes and limited job security, even in sectors tied to exports.

The Guardian: How will the world feed itself in 40 years’ time?
Alex Renton, writing from his report for Oxfam International on the impacts of climate change on humans, examines the connection between food security and climate change. He posits that rich countries are already getting richer. At the same time, a warmer climate is less likely to negatively impact richer countries as they will poorer countries (particularly poor countries in tropical climates). This means that there is likely to be greater food wasting in richer countries just when poorer countries have greater need for that food.

The Independent: Paul Collier: The flight of finance from Africa
Paul Collier accounts for the recent flight of finance from Africa across the spectrum. He says that a collapse in letters of credit has hit Africa far harder than any other region, leaving the continent desperate for investment. For decades Africa has been investing only around 20 per cent of national income, which means that almost regardless of returns, Africa will continue to fall further behind the emerging market economies. Yet Africa simply cannot afford to finance a substantial increase in investment from its internal resources because a domestically financed increase in investment could only come at the expense of consumption. So if international finance is essential and private international finance is fleeing, the only option is international public finance.

Reuters: China says rich countries undercut climate talks
China accused rich countries of undermining key elements of an international climate change agreement that nations hope to agree by the end of 2009, adding to a chorus of discord over the negotiations.

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