Closing Developing Countries’ Capital Drain (Joseph E. Stiglitz, Hamid Rashid, Project-Syndicate)

Developing countries are bracing for a major slowdown this year. According to the UN report World Economic Situation and Prospects 2016, their growth will average only 3.8% this year – the lowest rate since the global financial crisis in 2009 and matched in this century only by the recessionary year of 2001. And what is important to bear in mind is that the slowdown in China and the deep recessions in the Russian Federation and Brazil only explain part of the broad falloff in growth.

http://www.project-syndicate.org/commentary/developing-countries-capital-outflows-by-joseph-e-stiglitz-and-hamid-rashid-2016-02

What’s Holding Back the World Economy? (Joseph E. Stiglitz, Hamid Rashid, Project-Syndicate)

Seven years after the global financial crisis erupted in 2008, the world economy continued to stumble in 2015. According to the United Nations’ report World Economic Situation and Prospects 2016, the average growth rate in developed economies has declined by more than 54% since the crisis. An estimated 44 million people are unemployed in developed countries, about 12 million more than in 2007, while inflation has reached its lowest level since the crisis.

http://www.project-syndicate.org/commentary/whats-holding-back-the-global-economy-by-joseph-e--stiglitz-and-hamid-rashid-2016-02