DON’T LET BRAZIL KILL THE AMAZON!
|
UNCTAD’S TRADE AND DEVELOPMENT 2017 RELEASED IN NEW DELHI
- Geneva, Switzerland, (14 September 2017)Unregulated finance remains at the heart of today’s hyperglobalized world, and the failure to tame it andaddress the deep-seated inequalities it has generated threatens efforts to build inclusive economies, a UnitedNations report says.The UNCTAD Trade and Development Report 2017: Beyond Austerity – Towards a GlobalNew Dealunderlines that, despite all the talk of the urgency of reform at the time of the financial crisis, and recentclaims that the financial system is safer, simpler and fairer, regulatory actions have so far done little morethan clip the wings of high-flying finance, with lending now somewhat backed by capital and a bit lesstrading in the shadows.“The public purse was used generously to prevent the financial sector going under in 2007/08, but the rootcauses of financial instability have not been addressed by national Governments or on a global scale,” saidUNCTAD Secretary-General Mukhisa Kituyi.Looking back over the past decades, the grip of finance over entire economies has intensified, as shown bymultiple indicators. Total banking sector assets since the 1990s have more than doubled in most countries,with peaks at over 300 per cent of gross domestic product (GDP) in some Organization for EconomicCooperation and Development (OECD) economies (figure 1). The Trade and Development Report 2017estimates that banking in developed countries is a $100 trillion sector, which now exceeds global income.Similarly, trends for developing and transition economies are showing peaks above 200 per cent of GDP insome cases.A shaky global financial systemThe degree of bank concentration remains alarmingly high, a theme highlighted across this year’s report. Inmany countries, the globally consolidated balance sheets of the top five banks are greater than nationalincome. For many economies, the external asset and liability positions of their domestic sectors are alsogreater than their GDP. “This is a shaky state for the global financial system,” Dr. Kituyi said.Financialization has been accompanied by the rise of indebtedness across the non-financial sector, increasingto 188 per cent of global GDP prior to the crisis. Despite the debt-driven growth model ending disastrouslyin 2008, this trend reached a record 230 per cent of GDP in 2016. With household debt rising and the wageshare moving in the opposite direction (figure 2), the links between indebtedness and insecurity areincreasingly difficult to ignore.Income inequality widens still furtherThe report discusses how these trends are closely related, with inequality worsening. It shows that the
- income gap between the top 10 per cent and the bottom 40 per cent has widened in the run up to four out offive financial crises across the world since the late 1970s. And in their aftermath, inequality continued to risein two thirds of the cases. The mechanisms are complex and vary from country to country, but put succinctly,the story is: the “great escape” of top incomes breeds underconsumption, private debt and speculativeinvestment in a context of enhanced capture of regulatory agendas, making the financial system morevulnerable, hence the crises. And in the recovery process, the poor bear the consequences of adjustment asthey lose income and employment amid austerity policies.Figure 1: Financialization: Total banking assets(Percentage of GDP)Source: UNCTAD secretariat.Note: Selected OECD economies include France, Germany, Italy, Japan, the Republic of Korea, Spain, theUnited Kingdom and the United States of America. Selected developing and transition economies includeBrazil, Chile, China, India, Mexico, the Russian Federation, South Africa, Thailand and Turkey.Figure 2: Non-financial sector debt versus labour income share(Percentage of GDP)
- Source: UNCTAD secretariat.Note: See figure 1 for list of selected economies.For more informaon, please contact:UNCTAD Communicaons and Informaon UnitT: +41 22 917 5828T: +41 79 502 43 11E: unctadpress@unctad.orgWeb: unctad.org/press
JAPAN DM: N.KOREA’S MISSILE FLEW 3.7K KILOMETERS
Defense Ministry says a ballistic missile fired from North Korea landed in the Pacific Ocean about 2,200 kilometers east of Hokkaido, northern Japan, on Friday morning.
Ministry officials said the missile was fired at around 6:57 AM Japan time from Sunan on North Korea’s west coast.
It flew over Hokkaido and landed in the Pacific Ocean outside Japan’s exclusive economic zone about 20 minutes later.
The officials estimated that the missile flew about 3,700 kilometers and reached an altitude of about 800 kilometers. They said no debris fell on Japanese territory, and that no ships or aircraft were hit.
The officials said the missile was likely a Hwasong-12 intermediate-range ballistic type. The North launched a similar type last month.
They said the two missiles were launched in similar directions, but that the latest one traveled about 1,000 kilometers farther and climbed about 250 kilometers higher.
Friday’s missile traveled 300 kilometers farther than the distance between North Korea and the US territory of Guam. Last month, North Korea said it is considering plans to fire missiles at areas near the Pacific island.
The Defense Ministry officials said North Korea is steadily improving the capability and reliability of its missile technology.NHK
FRACTURED INDIAN INDUSTRY, ECONOMY & FAMILY, BOGUS PATENTS
Researcher View Only :
September15, 2017 (C) Ravinder Singh progressindia2015@gmail.com
When I asked CBDT Executive ‘Are You Collecting Some Money or Simply Creating PANIC Everyday Announcing Review of Business, Property Deals, IT Returns Going Back Six Years or More?’ he was confused for some time and relieved of the difficulty by stating that this is outside the scope of the seminar.
Indian Industry, Economy and Family were always fragmented. No or Few BOGUS Patents are granted that are meant to ‘Ensure Unified Sustained Effort by Industry in Developing & Marketing the Innovative Product on Global Scale, was already Missing’.
India Auto Industry is Integrated mainly owned by Foreign Multinationals, but almost every other Industry is Fragmented – i.e. power sector is totally fragmented. Trained & Worked Power Station in 1975 and responsible for Procurement – had seen from Nut & Bolts to Switchgear, Motors, Tools, Paints, Wires, Cables, Lamps, Chemicals, Gases, Bearings, Electrodes, Instruments, Boiler Parts – thousands of items were procured.
Power sector itself is divided – Thermal Power, Hydro Power, Wind Power, Solar Power & Energy Efficiency – Generation, Transmission & Distribution – MISS NATIONAL VISION. India has installed 4,00,000 MW Capacity for 1,00,000 MW Requirement, Storage Hydro Power, Rooftop Solar, Farm Solar, LEDs, DC Fans, Motors are Present Energy Priorities.
EXIM Bank Supported GoI Soft Credit Lines
GoI offered $15b Soft Credit to Developing Countries – but Indian Industry could engage only $1.5b or 10% in 3 years that too for mainly Equipment Supply – almost nothing BOO projects or Manufacturing Units. SIMPLY BECAUSE INDUSTRY DOESN’T HAVE –
a. Experience & Skills and Reputation,
b. Brand and c. Patented or Unique Technology.
A Country funding $5b Hydro Project will also getTransmission & Distribution business.
I have been promoting ‘Multi-Purpose Hydro’ since 1980 when Lunatic Garland Canal Project was under GoI Consideration. This alone is $500b Opportunity in Himalayas alone, over $5Trillion World-wide. No Indian company is ‘Committed to Hydro Power’.
ü It is not Power Industry but all Industries i.e.Manufacturing, Mining, Oil & Gas suffer,
ü Bogus Guru on Road ‘Jaggi Vasudev’ NGOs Not Industries Guides India on technologies.
Fragmented to Fractured Industry, Economy & Family.
RAID Culture Practiced by the Present Government HadEXPOSED CRACKS – CREATED FRACTURES andCooperation between Industry, Economy & Family has diminished.
Every TRANSACTION has to be reported is Western Idea, Family Members Supporting Owners of a Business or Industry are Paid and treated as Independent Workers. A housewife in Western World not paid, Compensated indirectly – has 50% Share in Wealth of her Husband and Every Citizen is Supported to Own A House or Business.
A person is Identified by a Number and Date of Birth in Western World which India is trying to follow through PAN & ADHAAR but retains Fathers Name & Surname– but India is not following Western Practices – A woman divorcing in India doesn’t get 50% share in Husbands wealth – though she Can Implicate Every Member of IN-LAWS Family inCriminal Dowry Case but get Maintenance Through Years of Litigation.
An Indian gets no Bank Support – Requires Experience & Mortgage Fixed assets. 95% businesses depend on Moneylenders – Moneylending is not Legalized.
Ravinder Singh, Inventor & Consultant, INNOVATIVE TECHNOLOGIES AND PROJECTS
Y-77, Hauz Khas, ND -110016, India. Ph: 091- 9871056471, 9718280435, 9650421857
Ravinder Singh* is a WIPO awarded inventor specializing in Power, Transportation,
Smart Cities, Water, Energy Saving, Agriculture, Manufacturing, Technologies and Projects
Comments
Post a Comment