? The United States of America avoids a fiscal stand-off ?
Emerging economies brace for net capital outflows for the first time in many years ?
Third quarter growth in China beats expectations
Global issues
Oil prices expected to remain low in the medium term
In the past week, oil and mineral prices rallied after China cut interest rates for the sixth time in a year. Speculation over the impact of China's monetary stimulus on output growth animated commodity markets, but the price gain was rather short-lived. Given that China remains the main commodity importer at the global level, the market expectations regarding the Chinese growth prospects has had significant impact on commodity…
World Economic Situation and Prospects Monthly Briefing No. 84
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12 October 2015 Summary
Global trade flows drops in value terms amid persistently weak commodity prices and stronger US dollar
Budget cuts and increasing fiscal strains in many commodity-exporting developing countries
Global issues
Widening gap between values and volumes in global trade
According to the World Trade Organization (WTO), total value of international trade has dropped for three consecutive quarters up to the second quarter of 2015 (see table). For the first half of 2015, total world trade value measured in US dollars was about 13 per cent lower than the same period in 2014. This rapid deterioration appeared unevenly across regions. The Commonwealth…
World Economic Situation and Prospects Monthly Briefing No. 83
Global issues
Decline in capital inflows to emerging markets gains pace
Capital inflows to emerging economies continued a gradual but steady decline, amid domestic weaknesses and less favourable external conditions, including lower commodity prices and expectations of monetary tightening in the United States of America. In recent months, portfolio inflows to emerging economies fell markedly, particularly in some Asian countries such as China and Thailand, and also in other countries such as Mexico and Turkey. After reaching $16.5 billion in April, equity inflows dropped to $3.9 billion in June and to $1.6 billion in July, their lowest level in 2015. Bond inflows also remained subdued,…
Income convergence between developed and developing countries in recent years is mainly the result of rapid economic growth in Asia. The distance between average per capita income in other developing regions and that in developed countries has not changed significantly; between-country inequality continues to be a cause of concern.
Development Issues No. 5: Income convergence or persistent inequalities among countries?
The subject of inequality appears throughout the 2030 Agenda for Sustainable Development, both directly and indirectly. When examined across the four different angles of inequality?access, gender, opportunity and outcomes?many goals and targets of the Sustainable Development Goals are clearly linked to inequality.
Development Issues No. 4: Inequality and the 2030 Agenda for Sustainable Development
Measuring poverty with a single income or expenditure measure is an imperfect way to understand the deprivations of the poor since, for example, markets for basic needs and public goods may not exist. Complementing monetary with non-monetary information provides a more complete picture of poverty.
Development Issues No. 3: Multidimensional Poverty
There are many measures of inequality that, when combined, provide nuance and depth to our understanding of how income is distributed. Choosing which measure to use requires understanding the strengths and weaknesses of each, and how they can complement each other to provide a complete picture.
Development Issues No. 2: Inequality Measurement
The understanding of inequality has evolved from the traditional outcome-oriented view, whereby income is used as a proxy for well-being. The opportunity-oriented perspective acknowledges that circumstances of birth are essential to life outcomes and that equality of opportunity requires a fair starting point for all.
Development Issues No. 1: Concepts of Inequality
The DESA Expert Group Meeting on the World Economy was held from 21-23 October 2015 at the UN Headquarters in New York. More than seventy economists from all over the world participated in discussions on the current state of the world economy, regional outlook, world commodity markets and global modelling and econometrics.
Expert Group Meeting on the World Economy
14 September 2015 Summary
Volatility soars in global financial markets
Concerns over China's economy are mounting
Stronger-than-expected GDP growth in the U.S., while economic growth slows in many developing countries
Global issues
Financial market volatility heightened sharply
Volatility in global financial markets heightened sharply in August, amid rising concerns about a further slowdown in some major emerging economies, including Brazil, China and the Russian Federation, and the uncertainties about the forthcoming increase in the policy interest rate in the United States of America.
International commodities, particularly crude oil, have seen large price swings over the past month,…
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