Economic Development

Video

Widening Inequality Threatens U.S. Growth and Social Mobility

Speaker: Jose Angel Gurria
Presider: Mary Ellen Iskenderian

Inequality has been steadily rising in the United States since the 1970s, but the gap between rich and poor increased dramatically following the financial crisis of 2008. José Ángel Gurría of the Organization for Economic Cooperation and Development joins Mary Ellen Iskenderian of Women's World Banking to discuss the growing inequality problem and what steps can be taken to promote more inclusive growth going forward.

See more in Global; Economic Development

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Financial Times: Obama Walks Into Crossfire of Asian Tensions

Authors: Geoff Dyer, Demetri Sevastopulo, and Simon Mundy

"The U.S. has been particularly frustrated at the deterioration in relations between Tokyo and Seoul, as it believes that relationship is important to help check the rise of China in the region, which is one reason that some high-profile Asia experts in the US have been urging Mr Obama to visit South Korea."

See more in Japan; South Korea; Economic Development; Global Governance

Primary Sources

Principal Deputy Assistant Secretary Marciel's Testimony on the Rebalance to Asia

Principal Deputy Assistant Secretary in the Bureau of East Asian and Pacific Affairs, Scot Marciel, testified on December 18, 2013 about the economic aspects of the Obama Administration's rebalance to Asia, before the Senate Committee on Foreign Relations Subcommittee on East Asian and Pacific Affairs.

See more in Asia and Pacific; United States; Grand Strategy; Economic Development

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Project Syndicate: Japan's Tax-Hike Test

Author: Koichi Hamada

"If Japan's government can overcome a demand setback after the tax increase takes effect – leaving the economy functioning smoothly and initiating a recovery in government revenue – Abe will be able to declare Abenomics an unequivocal success."

See more in Japan; Economic Development

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China File: Deciphering Xi Jinping's Dream

Author: Ouyang Bin

"Xi has indicated very clearly from the time that he became General Secretary of the Party that he was obsessed, as maybe other Chinese leaders are also, with the Gorbachev syndrome. Xi Jinping realizes, like Li Keqiang, that there is a need for deep economic reforms—really very important and very difficult economic reforms. But what I think they worry about is that they don't know which reforms could be the ones which unleash a Gorbachev-type situation, where one thing follows another and before you know it the whole country and the whole party system has collapsed."

See more in China; Economic Development

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Reuters: Complete the Job

Author: Hugo Dixon

"Greece's reform job is not even half finished. The government hasn't done enough to root out the vested interests that strangle the economy. Nor has it cracked down fully on tax evasion or pushed hard enough to privatise state-owned properties."

See more in Greece; Economic Development

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Irish Times: Somalia Starts to Pick Up the Pieces

Author: Mary Fitzgerald

"For the first time in a very long time, people here have hope," says Liban Mahdi, one of scores of diaspora Somalis who have returned to Mogadishu since al-Shabaab were routed from the city by African Union and Somali forces in August 2011. Parts of the battle-scarred capital are experiencing a construction boom, with hospitals, homes, schools, shops and hotels rising from once rubbled neighbourhoods. Streets hum with cars and hawkers. "We have traffic jams in Mogadishu now," says Ismail, who works in construction. "I never imagined I would see that here."

See more in Somalia; Economic Development