Zou Ji, head of the department of environmental economics and management at the Renmin University in Beijing, which conducted the study, told the Financial Times China could be expected to pay for measures to slow the growth of emissions. But the cost of doing more than that should be shared by the international community because it was aimed at the “global public good” of saving the planet, he said.

Financial Times
"China's High Price for Emission Cuts"
Kathrin Hille and Fiona Harvey
September 1, 2009

Third, to what extent will this alter the role of the US in the global economy? The US supplies two critical global public goods: the reserve currency and deep and predictable financial markets. The rent it collects has allowed the US to contain funding costs and gain macro-policy flexibility.

The greater the questioning of these public goods, the more investors will reduce their large exposure to US assets. As such, the US may find it more difficult to operate like a large closed economy at a time when it has become a more open economy that is gradually losing its size advantage.

Financial Times
"Insight: Survivor's Guide to Navigation"
Mohamed El-Erian
June 15, 2009

And while the Groupe's core aim of reducing global poverty has not changed, it has broadened the scope of its activities. A traditional focus on sub-Saharan Africa and French overseas departments and territories remains. But the Agency's geographical scope has widened to include a livelier role in Anglophone Africa; to take in Asian countries including Pakistan, India, China and Indonesia; and to be more responsive to need in Latin America.

Simultaneously, it is stepping up efforts towards what it terms "global public goods" such as fighting climate change and global pandemics, and protecting biodiversity, and also doing more to help acquire and share knowledge of development issues.

Financial Times
"AFD looks beyond Francophone Africa"
Ross Tieman
May 27, 2009

Available at:
http://www.ft.com/cms/s/0/fd47c056-4a56-11de-8e7e-00144feabdc0.html

Governments must provide global public goods. Research is needed to boost productivity, especially for African crops, and must not be hampered by opposition to genetically modified food. Mechanisms must be found to hedge against price volatility that discourages production even when prices are high.

Financial Times
"The World Must Feed its Hungry"
April 16, 2009

Available at:
http://www.ft.com/cms/s/0/ab8dc834-2ab0-11de-8415-00144feabdc0.html?nclick_check=1

The future of humanity is at stake. The United Nations Climate Change Conference in Copenhagen in December is our last chance to save the planet, and there is the possibility of failure. If emissions targets and responsibilities are not set, we will all suffer the consequences -- and China is no exception. The world's most populous nation, and one of its geographically largest, is environmentally vulnerable. China could benefit most from global public goods, but it also has the most to lose from climate change.

Chinadialogue
"A New Approach at Copenhagen (1)"
Hu Angang
April 6, 2009

Available at:
http://www.chinadialogue.net/article/show/single/en/2892

There are now influential voices in the US and abroad calling for revival of the idea of Special Drawing Rights (SDRs) as the principal international reserve currency. If SDR becomes the principal international reserve asset and IMF issues SDR on an annual basis to meet the currency needs of international trade and capital movements, the seigniorage that has been accruing to the US will accrue to the international community. If these SDRs are then used for funding provision of global public goods such as climate change management, they can take care of the issue of resources for funding climate change programmes. This will be a text book example of global seigniorage being used for provision of truly global public good.

The Financial Express
"Breaking the Logjam"
Ramgopal Agarwala
January 11, 2009

Available at:
http://www.financialexpress.com/news/breaking-the-logjam/409196/0

For several years, Stiglitz has proposed that SDRs -- or a new "global greenback" along similar lines -- be used to supplement other reserve currencies. They would be issued for investment in developing countries and for "global public goods" like environmental projects, health initiatives, and humanitarian assistance. They would simultaneously counter global deflation and help countries with trade deficits to avoid ruinous devaluations and runs on their currencies.

In today's converging economic and environmental crises, why not issue "green SDRs" to help finance the global war on global warming? Surely nothing could better qualify as a "global public good" than saving the planet from ruinous climate change. And at the same time, green SDRs could provide some of the stimulus needed to move the global economy out of its deepening stagnation.

Foreign Policy in Focus
"Green Paper Gold"
Jeremy Brecher, Tim Costello and Brendan Smith
December 19, 2008

Available at:
http://www.fpif.org/fpiftxt/5759

With global markets on shaky ground, governments have intervened -- and this should be the case for climate issues. The global public good should not be placed on the sacrificial altar of the private interests of unregulated financiers. In the case of climate change, clean technology projects need funding and these should be sourced from the public purse, not through financial instruments designed to create disproportionate profits for a few who control capital flows.

YaleGlobal
"The Limits of Growth: Part II"
Chandran Nair
November 24, 2008

Available at:
http://yaleglobal.yale.edu/display.article?id=11645

In the same way that the Uruguay world trade agreement in 1994 helped lay the foundations for a decade of trade growth, Doha could be the basis for the next 10 years of growth. A Doha agreement would be a global public good that would help us lay the framework for a long-term climb out of global slowdown.

The Wall Street Journal
"Doha Now"
Catherine Ashton
November 12, 2008

Available at:
http://online.wsj.com/article/SB122644000545718543.html

In a body equally divided between the two parties, Nye saw very few partisan divisions. "What is intriguing is how little difference there is. We all feel that any new administration will have to put a high priority on multilateralism, on strengthening international institutions and providing global public goods, taking the lead on health, climate change and so forth. People have learnt the lessons of the past seven years, but at a very high price."

Times Higher Education
"Putting Down the Big Stick"
Interview with Joseph S. Nye, Former Clinton Advisor, Now in the Obama Camp
August 7, 2008

Available at:
http://www.timeshighereducation.co.uk/story.asp?sectioncode=26&storycode=403062&c=1

It is not simply that three-quarters of those living on less than $2 a day still depend in some way on commonly held resources. The concept of the commons is also spreading to new areas. Their essential feature is that they share one characteristic with private property and one with public goods. Like public goods, they are not "excludable": the common resource is too extensive to keep people out very easily. But they are also "subtractable" (or "rivalrous"), like private property: if one person uses them, another's access is diminished. (With a classic public good, such as street lighting, one person's usage does not affect anyone else.) Many things other than rainforests or drylands share these attributes.

Indeed an entire industry seems to have sprung up to identify "new commons" (such as the internet) or to claim as commons things not always seen that way. Silence, for example, should arguably be seen as a commons, because if one person interrupts it, there is less of it for others to enjoy. At the biennial meeting of the International Association for the Study of the Commons in July, Charlotte Hess of Syracuse University extended the concept of the commons from traditional natural resources to things such as medicine, knowledge and what are usually seen as global public goods, like the oceans and Antarctica.

The Economist
"Commons Sense"
July 31, 2008

Available at:
http://www.economist.com/finance/displaystory.cfm?story_id=11848182

The U.S., as the largest economy and the world's most important financial player, bears a special responsibility to provide the global public good of a pruden regulatory environment. Instead, for temporary gain to one sector of the U.S. economy, we have engaged in a race to the bottom that has pulled the rest of the country and perhaps much of the world into economic crisis. The economic consequences for financial centres such as New York are already being felt in painful layoffs, construction plans on hold, and shrinking tax revenues. cleaning it all up will not be pretty.

The Global and Mail
"Cleaning Up this Mess Won't Be Pretty"
Howard Chernick
March 24, 2008

Available at:
http://www.theglobeandmail.com/servlet/story/RTGAM.20080324.wagenda0324/BNStory/Technology/?page=rss&id=..wagenda0324

Another major determinant of which scenario prevails will be US power and how it is used. The US will remain the most powerful country in 2020, but, paradoxically, the strongest state since the days of Rome will be unable to protect its citizens acting alone.

US military might is not adequate to deal with threats such as global pandemics, climate change, terrorism and international crime. These issues require cooperation in the provision of global public goods and the soft power of attracting support. No part of the world shares more values or has a greater capacity to influence US attitudes and power than does Europe. That suggests that the fourth political determinant of the future will be the evolution of European policies and power.

Taipe Times
"Europe not to be underestimated"
Joseph S. Nye
February 13, 2008

Available at:
http://www.taipeitimes.com/News/editorial/archives/2008/02/13/2003401096

Singh and Wen affirmed that Asia is big enough for both their peoples. Singh even called the growth of China and India a global public good, a gift to humanity. The leaders made less fanfare about the dark side of this boon, instead confirming their solidarity in approaching post-kyoto climate change talks on the basis on "common but differentiated responsibilities" -- meaning the developed world can expect few concessions.

THE AGE
"Time to Lift our Game and Engage India"
Roy Medcalf
January 17, 2008

Available at:
http://www.theage.com.au/news/opinion/time-to-lift-our-game-and-engage-india/2008/01/16/1200419881666.html

During his visit to South Africa, Sir Nicholas Stern said Africa could benefit from global initiatives for clean energy investment, reduced deforestation and development of global public goods.

The former World Bank Economist authored the 700 page Stern Review Report on the Economics of Climate Change. He is also Head of the UK Government's Economics Service.

African leaders, he said, had an important role to play in shaping the international debate.

Costs of climate change could be reduced through both adaptation and mitigation -- but adaptation was the only way to cope with the impact of climate change over the next few decades, said Sir Stern.

BUA NEWS
"SA, Norway to Discuss Climate Change in Africa"
Luyanda Makapela
January 17, 2008

Available at:
http://www.buanews.gov.za/view.php?ID=08011710451001&coll=buanew08

Firstly, for agreement on a common global emissions target, requisite and predictable provision of subsidies to developing countries by shifting down the marginal cost of abatement curve is sine qua non. The existing technology is neither cost effective nor easily accessible. However, over the next few years, some key technologies for reducing (and/or sequestering? emissions could become affordable. Innovation and diffusion in this area will have to be viewed as global public goods. Secondly, developing countries will also be able to determine the quantum of emissions that have actually been cut by the wealthier countries. Has this been commensurate with the excitement and urgency (some would say alarmist talk) engendered by, for example, NGOs, the Stern Review and the EU Emissions Trading Systems? Thus far, this has not been the case. Given this, developing countries will have to build credible, comprehensive systems for monitoring emissions. Given the obvious scope for gaming, it would be naive to rely solely on developed country monitoring agencies.

The Indian Express
"In Bali, Just Sit Tight"
Urjit R. Patel
December 4, 2007

Available at:
http://www.indianexpress.com/story/246279._.html

Broad agreement on a common global emissions target will necessitate requisite and predictable subsidies to developing countries (for on-the-ground diffusion of carbon emission abatement technology). Advances in technology will have to be viewed as global public goods; furthermore, the intellectual property right regime may have to be relaxed as part of a multi-pronged strategy (as in the case of anti-AIDS drugs). The incremental costs of low-carbon investments in developing countries will be substantial, estimated in the range of $20-30 billion/year. Supporting reduction in the costs of low GHG emitting technologies (such as fuel cells) is critical and estimates suggests that the Global Environment Facility (GEF) would require a 10-fold increase in funding to accomplish this (since inception in 1991, the GEF has provided $6.2 billion in grants).

Business Standard Online
"The Challenges of Emissions Trading"
Urjit R. Patel
November 16, 2007

Available at:
http://www.business-standard.com/economy/storypage.php?tab=r&autono=304450&subLeft=3&leftnm=3

Curbing Indonesia's emissions must be part of an effective future global response. Yet Indonesia, like other developing countries, has much more pressing and immediate concerns that need scarce public resources. Reducing greenhouse emissions is a global public good' its benefits are dispersed over everyone on the planet and future generations.

The logical conclusion is that rich countries need to pay for greenhouse gas reduction measures in developing countries like Indonesia on a big scale. This is far from easy to achieve. Issues of international equity and incentives to free-ride on other countries' efforts remain tricky.

Inside Indonesia
"Bali's Climate Conference: Rich Countries Should Pay Big Bucks to Reduce Emissions in the Developing world"
Frank Jotzo
Inside Indonesia Issue 90: Oct-Dec 2007

Available at:
http://insideindonesia.org/content.view.1007/47/

The World Bank has regained its identity and core purpose -- "improving living standards and fighting poverty" by mobilising new ideas, instruments and partners -- new managing director Ngozi Okonjo-Iweala insisted yesterday. The former Nigerian finance minister has been enticed back to the bank, and shed posts she has taken on in private life, by a new bank chief Robert Zoellick.

Zoellick has "mapped out an agenda and has shown the Bank Group will be different from the past, with a new approach -- for example, emphasising 'global public goods' such as climate change", she said in an interview with Emerging Markets.

Business Day Online
"Okonjo-Iweala Resumes at World Bank with Resolve"
October 22, 2007

Available at:
http://businessdayonline.com/National/697.html

Muasher says Zoellick's goal is what he calls "inclusive and sustainable globalization." He says, "For globalization to work around the world it has to mean something both for the developed and the developing countries; and meaning that all areas and all issues need to be included within that overall theme. As such, the bank is talking about how to deal with the poorest countries of the world, how to deal with middle income countries, how to be more responsive to post conflict states, how to deal with an important region of the world that the bank feels is under-served, which is the Arab world. But also how to deal with global public good, such as climate change."

VOA News
"World Bank/IMF Annual Meeting Opens in Washington"
Joe De Capua
October 17, 2007

Available at:
http://wwwvoanews.com/english/Africa/2007-10-17-voa14.cfm

Delegates will also receive papers on other important development issues including: debt relief, global public goods, aid for trade, scaling up assistance to developing countries, Bank lending to middle income countries, and voice and participation in developing and transition countries.

Zoellick is expected to reinforce the need for poor people to benefit from an increasingly globalized economy through anti-poverty programs, environmentally sustainable growth, and social development.

World Bank
"Bank-IMF Annual Meetings Looking at Energized Agenda"
World Bank News and Broadcast
October 15, 2007

Available at:
http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/0,,contentMDK:21510414~pagePK:64257043~piPK:437376~theSitePK:4607,00.html

Mr. Zoellick set out six priorities for the bank: overcoming poverty and promoting growth in the poorest countries; helping failed or failing states; offering more sophisticated services to middle-income countries; supporting the environment and other global public goods; fostering fresh dynamism in the Arab world -- which he called "one of the most notable challenges of our time"; and developing a "brain trust".

Financial Times
"Tackling Poverty a Priority for Zoellick"
Krishna Guha
October 10, 2007

Available at:
http://www.ft.com/cms/s/0/55c2dc28-7756-11dc-9de8-0000779fd2ac.html

Dr. Fakhruddin said Bangladesh is hosting the first ever meeting of climate change experts in Dhaka in October this year. This will enable us to reach a common position on climate change and adaptation issues prior to the Bali Conference later this year, the added.

"Our environment is a global public good and we must work together to protect it," he added.

The Chief Adviser said time is of the essence, and unilateral action is not enough. "We must turn our words into deeds, and pursue an agressive strategy to address climate change. The post-Kyoto regime must incorporate concrete, realistic and legally binding emission and equitable reduction targets."

Dr. Fakhruddin said, "We must also fully commit to meeting adaptation needs. The Bali Conference must take advantage of the goodwill expressed here to make a new beginning in this respect Waiting any longer will be at our peril."

The New Nation
"Bangladesh Vulnerable to Climate Change: CA, Global Steps Needed to Promote Carbon Neutral Economic Growth"
BSS
September 26, 2007

Available at:
http://nation.ittefaq.com/issues/2007/09/26/news0877.htm

Globalisation itself is increasingly associated, by serious thinkers as well as populists, with rising inequality in the developed world and in particular the expanding gap between the middle class and the elite.

In part as a result of the public mood, global trade liberalisation -- one vehicle for the creation of great private wealth -- is stalled.

Some, therefore, see both a demand-side and supply-side impetus for creative philanthropy along the lines of the multi-billion dollar contributions made by Bill Gates and Warren Buffett, employing private wealth and private sector techniques and markets to address global public goods.

Financial Times
"Clinton Hits NY for the Business of Giving"
Francesco Guerrera, Krishna Guha and Edward Luce
September 25, 2007

Available at:
http://www.ft.com/cms/s/0/1e27754e-6b8f-11dc-863b-0000779fd2ac,dwp_uuid=bd12ca98-5fa3-11dc-b0fe-0000779fd2ac.html

Today, however, global public goods include new issues -- not only climate change, but also preservation of endangered species, outer space, and the "virtual commons" of cyberspace. A reasonable consensus in American pubilc opinion supports ensuring both these and the "classic" global public goods, even if the US has failed to lead on some issues, notably global climate.

There are also three new dimensions of global public goods in today's world. First, the US should take the lead in helping to develop and maintain international laws and institutions to organise collective action to deal with not only trade and the environment, but also weapons proliferation, peacekeeping, human rights, and other concerns. Others benefit from the order that such efforts provide, but so does the US. Likewise, while unilateralists complain that the US is constrained by international regimes, so are others.

Daily Times
"America and Global Public Goods"
Joseph S. Nye
September 13, 2007

Available at:
http://www.dailytimes.com.pk/default.asp?page=2007%5C13%5Cstory_13-9-2007_pg3_3

Health is another driving force for globalisation. The prime minister of India has called for an "inclusive globalisation". By this he means a partnership between rich and poor countries that addresses the health and educational needs of the poor as well as the growth of their economies.

Though he is calling for greater interdependence for the benefit of poorer countries, the threat of avian flu illustrates there are potential benefits for developed economies in global public goods on which we all depend, such as health.

The Dominion Post
"The Ebb and Flow of Globalization"
Paul Winter
September 3, 2007

Available at:
http://www.stuff.co.nz/4188441a1865.html

Discussing a global approach to energy security, Cornelia Meyer, Chairman and Vice President UK, The British Swiss Chamber of Commerce, said, "To be secure, consumers need adequate capacity, as well as diversity of supplies. Consumers and producers need transparency, predictability of regulatory regimes, and universally agreed, reliable data. Producers need to be able to adequately predict demand. The world needs security, as well as environmental and social sustainability. These are the truly global public goods of the 21st century. To achieve energy security, we need to think big, we need to work across countries and regions. We have to work accros disciplines to find solutions for the various aspects of energy security. We are all stakeholders. We are all in this together consumers, producers, investors, the rich, the poor, developed, and developing nations."

Journal of Petroleum Technology 59(7)
"OTC Draws Surging Industry Facing Big Challenges"
John Donnelly, Joel Parshall and Erica Shillings
July, 2007

Available at:
http://www.spe.org/spe-app/spe/jpt/2007/07/OTC.htm

In cooperating with others, the United States has to define its national interests in a broad way. One of the ways that it should define its national interests is to provide global public goods.

A public good is something from which all can benefit and none can be excluded. Essentially, the vision that The Asahi Shimbun offered in its 21 editorials is that Japan should become a coordinator of international public goods.

As described in the Asahi editorial, Japan can play an important role in providing global public goods.

The Asahi Shimbun
"Japan's Role in Promoting Public Goods"
Joseph S. Nye
June 14, 2007

Available at:
http://www.asahi.com/english/Herald-asahi/TKY200706140061.html

The alternative vision that Asahi offered was for Japan to become a world power as a provider and coordinator of global public goods from which all peoples can benefit and none can be excluded, such as freedom of the seas or a stable international monetary system. This would be a way for Japan to escape its reputation for insularity, avoid the mistakes of its military history, improve its relations with Asian neighbours who still remember the 1930s, and increase Japan's "soft" or attractive power.

More specifically, Asahi urged that Japan take the lead on managing global climate change by building on its record of succesfull innovation in energy conservation following the oil shocks of the 1970's. In an interesting conjunction of events, shortly after the Asahi editorial was published, Abe committed Japan to halving greenhouse gas emissions by 2050, and to helping developing countries to join in a new post-Kyoto protocol climate change.

Daily Times
"Rises of Liberal Japan"
Joseph S. Nye
June 13, 2007

Available at:
http://www.dailytimes.com.pk/default.asp?page=2007%5C06%5C13%5Cstory_13-6-2007_pg3_3.html

Wieczorek-Zeul stressed Europe's commitment to assistance for Africa, and Zoellick said he had noted Europe's very strong support for the development agenda in general and Africa in particular.

Both emphasized the role of what they termed "global public good" - characterized by Zoellick as environment and energy, health and development, trade and aid.

Zoellick said among the themes he had discussed were connecting trade and aid, and building capacity in recipient countries.

Good governance and corruption, along with transparency were also discussed.

EUX.TV
'Zoellick says WTO Doha Round success "extraordinarily important"'
DPA
June 13, 2007

Available at:
http://www.eux.tv/article.aspx?articled=9841

The bank's critics ought to understand that while capital markets are marvelous things, they can't be expected to do everything. Private investors won't provide loans in the midst of a crisis, as the World Bank did during the East Asian meltdown a decade ago. Private investors tend not to finance global public goods -- projects that are important for the world but not a priority for any one country. The world needs to curb carbon emissions, for example, but an individual country won't capture all the benefits of a clean coal plant, since these benefits are shared globally. Because of this "externality" problem, there is a role for the World Bank in subsidizing anti-carbon policies.

The Washington Post
"Endgame at the World Bank Begins"
Sebastian Mallaby
May 14, 2007

Available at:
http://www.washingtonpost.com/wp-dyn/content/article/2007/05/13/AR2007051301122.html

"It is extremely important that all governments share virus samples in order that it is possible for the world to really track the development of avian influenza and track the emergence of a pandemic influenza strain," said Ian Simpson. "So, this is a really important global public good and we hope that there will be agreement at this World Health Assembly to really stick to the global agreement that there is on sharing samples and that we can move on."

VOA News
"Avian Flu High On World Health Assembly Agenda"
Lisa Schlein
May 13, 2007

Available at:
http://www.voanews.com/english/2007-05-13-voa26.cfm

The second key strenght is providing global public goods. With its financial heft and technical expertise, the bank is arguably the best-armed institution to address urgent 21st century challenges that are beyond the scope of any single nation state: fostering an overdue green revolution in Africa; creating incentives for development of an Aids vaccine and new solar energy and biofuel technologies; helping poor countries to adapt to accelerating climate change; and combating money laundering, cross-border bribery and other international corruption.

Economists have long recognized that even well-functioning markets do not provide for national public goods, such as defense and prevention of contagious disease. Thus there is a role for government. Ordinary people understand this, too. That's why most of us pay our taxes. But while national governments exist to solve collective action problems for nation states, there is no global entity to provide for global public goods - and certainly no stomach for a global tax system. How can the world finance these needs?

One solution is a global cooperative, a sort of club, where the nations of the world commit themselves jointly to do what no state would undertake on its own. Conceivably we could start such a club from scratch. But we already have one, and it is called the World Bank. The world needs a strong and effective World Bank to finance and coordinate the provision of urgently needed global public goods.

Guardian Unlimited
"The Bank the World Needs"
Nancy Birdsall
March 3, 2007

Available at:
http://commentisfree.guardian.co.uk/nancy_birdsall/2007/05/the_bank_the_world_needs.html

Africa would be one of the continents hardest hit by climate change as it has the least capacity to respond, Sir Nicholas Stern, one of the world's leading experts on the economics of climate change, said yesterday.

Stern in SA as a guest of Environment Minister Marthinus van Schalkwyk, and he made a presentation yesterday on the economics of climate change to the cabinet.

He said the costs of climate change could be reduced through "adaptation and mitigation", but adaptation was the only way to cope with the effects of climate change over the next few decades.

Examples of how climate change would affect Africa could be found in Mozambique's recent floods. He predicted more droughts in Kenya, serious water-flow problems in the Nile River and an increase in waterborne diseases.

Africa could benefit from global initiatives for investment in clean energy, reduced deforestation and the development of global public goods. Africa, and SA in particular, were well placed to shape the international debate on climate change.

Business Day
"Stern Advice for Cabinet"
Chris van Gass
March 15, 2007

Available at:
http://www.businessday.co.za/articles/national.aspx?ID=BD4A412827

The effects of climate would be felt globally, but would hit Africa, the continent with the least capacity to cope, the hardest.

Speaking Wednesday during his visit to South Africa, Sir Nicholas Stern said Africa could benefit from global initiatives for clean energy investment, reduced deforestation and development of global public goods.

The former World Bank Economist authored the 700 page Stern Review Report on the Economics of Climate Change. He is also Head of the UK Government's Economics Service.

African leaders, he said, had an important role to play in shaping the international debate.

Costs fo climate change could be reduced through both adaptation and mitigation but adaptation was the only way to cope with the impact of climate change over the next few decades, said Sir Stern.

BuaNews
"Climate Change to Hit Africa Hardest"
Vivian Warby
March 14, 2007

Available at:
http://www.buanews.gov.za/view.php?ID=07031415451004&coll=buanew07

In most countries, routine immunisation services have been strengthened by bolstering the cold chain, as well as the transport and communications systems for immunisation. This continues to be a challenge in Pakistan where there are reports that some children contracted polio and other diseases despite being immunised against them. This is cause for worry. Not enough is seen to be done to check the efficacy of the polio drops and the manner in which they are transported to remote parts of the country. Another problem for Pakistan remains logistics and widespread misconceptions.

One of the areas of most concern today is Balochistan, which shares a porous border with Afghanistan The unchecked movement of people across the border has meant that even if the remotest parts of the province are covered, there will still be a threat from children coming across from Afghanistan. If that was not enough, the other problem is the spread of rumours by various quarters that question the immunisation drive. More recently in Balochistan, there were rumours (and many locals tended to believe them) that polio vaccine drops contained drugs that made children infertile when they grew up. While the government has made some effort to check this, much more needs to be done. Finally we also have to keep in mind the deteriorating law and order situation in that province which also makes it difficult to reach remote parts. All these issues need to be tackled by the government urgently. It is said that once polio is eradicated, the world can celebrate not only the eradication of a disease but the delivery of a global public good -- something that will benefit every person, regardless of race, sex, ethnicity, economic status, religious belief and geographical location. This should be Pakistan's aim as well.

The New International
"Losing the War against Polio"
February 2007

Available at:
http://www.thenews.com.pk/daily_detail.asp?id=42445

Yet there is also a far more comforting possibility: the economics overwhelms the politics. One of the stories of our era is the way in which vast countries such as China and India are orienting their politics around the goal of prosperity. This forces them to seek domestic and global stability and accept international openness and mutual dependence. They see no benefit in international conflict. It is surely possible that this view of national priorities will take hold in more of the world, including the Middle East.

In such a world, governments would be increasingly forced by their publics to make the world we live in one we can also live with. This, in turn, would make governments co-operate in providing the global public goods on which all depend:promoting stability, opening to trade, curbing muclear proliferation, managing the global commons, fostering development and dealing with failed states and the globalisation of "bads".

Financial Times
"A Divided World of Economic Success and Political Turmoil"
Martin Wolf
January 30, 2007

Available at:
http://www.ft.com/cms/s/55ac0522-b08a-11db-8a62-0000779e2340.html

As an enduringly close ally of the US, Australia's interests cannot be served by the ostracism of its great and powerful friend. And the global system suffers because the US is, in the main, the unique provider of essential global public goods such as strategic stability and free trade. The more its power and will are dimished, so these global interests are endangered.

The Sidney Morning Herald
"When the Sheriff Falls From Favour"
Peter Hartcher
January 23, 2007

Available at:
http://www.smh.com.au/news/world/when-the-sheriff-falls-from-favour/2007/01/23/1169330868080.html#

And it is not just in terms of who will drive future growth that we are witnessing dramatic shifts. The role of the US dollar as the main reserve currency is now being challenged by the euro: many countries are threatening to diversify away from dollars into euros; the quantity of euro currency/cash in circulation has already surpassed that of US dollars; and the growth of financial assets and liabilities denominated in euros has been exceptional. But the slowdown of the process of political union (the failure to pass the constitutional reform) and the slow pace of structural reforms in Europe imply that the greater financial power of the euro area is not yet matched by the true economic strength.

Also, the rise of negative global public externalities--crossborder environmental problems such as global warming, infectious diseases, financial contagion from crises, the scramble for precious resources such as oil and energy--requires the provision and financing of global public goods and cooperative solutions to these problems.

The Finacial Express
"The Shifting Global Economic Architecture: Are we ready to Debate the
Once-in-a-Millennium Changes that are Underway?"
Jonathan Schmidt and Nouriel Roubini
January 17, 2007

Available at:
http://www.financialexpress.com/fe_full_story.php?content_id=151877

Global public good model. In this view, the human genome is a common heritage of humankind and a global public good whose benefits should be shared with all. Benefit-sharing may be fair in that it includes giving special assistance to research participants, such as access to medical care or to new treatments stemming from the research, but it may be unfair in failing to define the recipients of such benefits. In addition, the model bears an arbitrary element, as the sharing of benefits is not subject to control by the donors of tissue, much less to democratic control, and may prove self-serving for universities and industry .

The Jordan Times
"Jordan Times (Opinion Section)
Jasper A. Bovenberg
January 12, 2007

The recent Asia-Pacific Economic Cooperation summit in Vietnam, also attended by President Bush, has given a renewed impetus for restarting the Doha round discussions, and should they pick up again this will coincide with South Africa's chairmanship of the G20 - a forum of developing and developed countries that discusses the world financial system and which plays a key role in world trade negotiations - under the stewardship of Finance Minister Trevor Manuel next year.

South Africa will be placing international financial stability, aligned to trade talks, on the agenda of the G20 as "a global public good", Mr. Manuel said two months ago.
Lastly, there will be the bilateral issues that both presidents may raise at the key meeting, said Mr. Ratshitanga.

BuaNews Online
"World Trade, global security on agenda of President Mbeki's US visit"
December 7, 2006

Available at:
http://www.buanews.gov.za/view.php?ID=06120716451002&coll=buanew06

By partnering with UNDP's MDG-Carbon Programme, companies not only get GHG reduction credits to meet their home-country commitments, they also achieve a CSR result in supporting CDM projects with a clear poverty reduction and sustainable development objective. By working with UNDP, companies can support increased access to energy in rural communities and benefit from the GHG emissions that are avoided in the process. This represents a new, historic opportunity for private market forces to achieve a global public good to bring market forces to benefit poverty reduction and environmental protection at the 'bottom of the pyramid'.

Interfax China
"Interfax discusses China's energy and environment with UNDP's Kishan Khoday"
Interview with Kishan Khoday, Assistant Resident Representative
and Team Leader for Energy and Environment at the United Nations Development Programme in Beijing.
December 4, 2006

Available at:
http://www.interfax.cn/displayarticle.asp?aid=19443&slug=ENERGY

The most moderate and reasonable of the Stiglitz proposals is for a new synthetic international reserve currency, which could kill two birds with one stone. It might end the spiral in which Asian exporters build up claims on US dollars, which may be vulnerable to a financial panic. Secondly, in place of the US government issuing securities (Treasury bills) which are spent in the propagation of American interests, but bought by the rest of the world, an international authority might spend money on global public goods, such as curbing environmental damage or ameliorating poverty. This kind of proposal is not new: the synthetic currency was part of Keynes's proposals at Bretton Woods; and was revived again in debates in the 1960s which led to the creation of the IMF's Special Drawing Rights (SDRs); and again, in the face of the dollar weakness of the late 1970s when the IMF proposed a so-called Substitution Account. Since then, advocates of developing countries have been calling for special issues of SDRs to fund developing countries or to write off debt.

Times Online
"Capital Ideas"
Harold James
November 29, 2006

Available at:
http://www.tls.timesonline.co.uk/article/0,,25346-2477960,00.html

The circle of virtue built by Stern runs as follows: greenhouse gases are a catastrophic threat to climate as a global public good; the present generation has a moral obligation to future generations to take action; the rich nations created this problems and have "a special responsibility for where the world is now"; the rich nations have a further moral obligation to the poor nations because the poor "will suffer earliest and most" due to their geography, dependence on agriculture and lack of resources; as a result, putting and appropriate price on carbon is a moral cause to ensure people face the social cost of their actions. This will become the moral mantra of the age, a new and powerful synthesis of ethics, science and economics. By invoking potential parallels with world wars and the Depression, Stern gives legitimacy to such hyperbole.

The Australian
"PM Stays Out in the Cold over Climate Change"
Paul Kelly
November 8, 2006

Available at:
http://www.theaustralian.news.com.au/story/0,20867,20718819-12250,00.html

Making Globalization Work discusses concepts in a manner that makes sense to lay readers. Stiglitz argues for fair trade. Trade liberalisation has been unsuccessful, and there must be greater opening of all markets. Poorly designed intellectual property regimes reduce access to medicine. "The lock on knowledge resulting from the granting of a patent might well impede follow-on research, or even applications."

Both debt and unfair trade cripple developing nations, but Stiglitz explains that it's the global reserve system that also hobbles many countries. Countries retain reserves (virtually all in $US) to manage various risks.

Taking into account costs like insurance and differences in interest rates, the actual cost of these reserves to developing nations is huge: more that $300 billion a year. By financing these loans in $US, the US is the major beneficiary here, but financing all these reserves also means that the US takes on (cheap) debt from poorer countries.

Stiglitz proposes a solution originally proposed by John Maynard Keynes: a new form of global currency for reserves. This currency could also be used for global public goods (i.e. heatlh, or the environment) and "could demonstrate the global community's commitment to global social justice" through distribution where needed. Carbon emissions could be accounted for in this currency.

The Courier Mail
"Saving the World"
Caroline Gardem
October 27, 2006

Available at:
http://www.news.com.au/couriermail/story/0,,20648449-5003424.html

The World Bank on Thursday approved a US$40 million IDA credit for the Uzbekistan Basic Education Project, which will help improve the quality and overall cost effectiveness of basic education in the country.

The project is in accordance with the Interim Strategy Note for Uzbekistan discussed by the Bank's Board of Directors in July 2006, which envisioned lending focused on global public goods and basic social services, combined with technical assistance and analytical and advisory services for the country over a 12-15 month period, the World Bank said. Uzbekistan has achieved near universal access in enrollment in primary education for girls and boys totaling 99%, and secondary enrollment totaling 95.5%. The country has achieved almost complete literacy, which increased from 97.7% in 1991 to 99.3% in 2003. The share of the adult population that has gained specialized secondary, vocational, or higher education exceeds 75%. However, the quality of education still remains a main concern in achieving the Millenium Development Goals (MDGs). Challenges to quality education include a general lack of textbooks, low household incomes impacting the indirect costs of education (textbooks and other books, uniforms, and school supplies, for example), poor school facilities, a lack of qualified teaching staff, low salaries for teachers, and a lack of interactive teaching and learning methods, the World Bank said.

The proposed Uzbekistan Basic Education Project has been designed to support a $1.2 billion, five-year program to raise the quality of basic education, which was launched by the Uzbek Government in July 2004.

ITAR-TASS News Agency
"World Bank approves $40 million for education in Uzbekistan"
October 27, 2006

The new approach provides a critical first step in combining treatment regimens for diseases which, although different in themselves, require common resources and delivery strategies for control or elimination.

The second key component of the strategy brings together for the first time dozens of agencies, NGOs, pharmaceutical companies and others into a coordinated assault on neglected diseases. These organizations are integrating their expertise and resources to deliver the manual's protocols for wide-scale drug use. A wealth of experience and success already exists in the public health community in dealing with these diseases.

More than one billion people are afflicted by these diseases. Their impact can be measured in the impaired growth and development of children, complications during pregnancies, underweight babies, significant and sometimes disabling disfigurements, blindness, social stigma, and reduced economic productivity and household incomes. These effects can now be dramatically reduced by scaling up interventions using highly effective drugs of proven quality and excellent safety record -- the majority donated free by companies or costing less than US$0.40 per person per year, including the cost of the drugs and their delivery.

"We need to urgently work together to improve access to rapid-impact interventions and quality care," says Dr. David Heyman, WHO Acting Assistant Director-General for Communicable Diseases. "The need to do so is incontestable from all perspectives: moral, human rights, economic and global public good. The task is feasible and must be done."

WHO Media Centre
"World Health Organization and partners unveil new coordinated approach to treat millions suffering from neglected tropical diseases"
Press Release
October 26, 2006

Available at:
http://www.who.int/mediacentre/news/releases/2006/pr60/en/index.html

We recognize that more than a quarter of the world's population today live in lower-middle income countries many of which are ready to graduate to higher income brackets through prudent economic management and enabling the engines of growth. But for that, we need targeted help and results-oriented assistance to accelerate growth, lift millions from poverty, and hasten the delivery of the fruits of reform to larger segments of populations. Supporting the G11 should be considered as providing international public goods in order to achieve global goals of development for all.

Jordan News Agency (PETRA)
"Group of Eleven / Lower-Middle Income Countries Initiative Draft Communiqué"
September 21, 2006

"These advanced MICs should seek to finance projects for poverty reduction and balanced growth primarily with resources they can acquire by themselves," he said.

"In enganging MICs with stable market access and a means to satisfy their own financing need, the bank needs to bring their graduation in view and focus on nonlending services that supplement the recipient's own efforts, while lending services, if necessary, should be directed exclusively to climate changes and other global public goods or to projects in a poverty area that would have a significant impact on poverty reduction."

The Japan Times
"Japan calls on China to stop borrowing from World Bank"
September 19, 2006

Available at:
http://search.japantimes.co.jp/print/nn20060919a4.html

These theories of public choice needn't only apply at the local government level. They can also apply at the international level. Most economists argue that some version of free trade is a good thing. They also argue that capital should be able to flow around the world relatively easily. And many are prepared to support the idea of international labour mobility (much to the chagrin of those in this country who are quite keen on the Poles but, for some unfathomable reason, find the Bulgarians and Romanians to be not quite their cup of tea). Put these things together, and you end up with a powerful argument in favour of an international public good.

But like any other public good, this international variant exists only if its members agree on, and abide by, the club rules. This, in turn, creates a number of problems, many of which are being discussed, explicitly or otherwise, at the IMF/World Bank jamboree that's currently taking place in Singapore.

The Independent
"Globalisation requires the greater good to be put first"
Stephen King
September 18, 2006

Available at:
http://news.independent.co.uk/business/comment/article1616726.ece

Katherine Sierra, the Bank's vice president for sustainable development, said nearly a fifth of humanity was dependent on forests for some part of their livelihoods.

Better law enforcement and land management were essential to protect their futures and lift them out of poverty, she said on Saturday.

"Forests are a global public good, and their degradation imposes global costs such as climate change and species loss," said the report.

Independent Online
"Illegal logging costing billions - World Bank"
Writing by David Fogarty, editing by Bill Tarrant
September 16, 2006

Available at:
http://www.int.iol.co.za/index.php?set_id=1&click_id=143&art_id=qw1158413040766S516

William Nordhaus, a noted American economist and expert on environmental issues, says climate change is "a special kind of economic activity known as global public goods." Global public goods, he says, "are public goods whose influences are felt around the world rather than in one nation, town or family." In that sense, climate change is not unique.

As Nordhaus points out, "we have only to think about nuclear proliferation, the AIDS epidemic, the threat of avian flu, the decline of many ocean fisheries, international financial crises and the history of warfare to realize how prevalent are global public goods."

Unfortunately, the world has only had modest success in working together to deal with global public goods, although the Montreal protocol on the ozone layer and the dispute settlement system of the World Trade Organization show it can be done.

Toronto Star
"Climate Change Demands Action"
David Crane
September 10, 2006

As the Doha round falters and global imbalances soar, the preservation of free trade and international monetary stability has rarely looked more precious. The International Monetary Fund was founded to safeguard these global public goods. But, without serious reform, the Fund is at real risk of marginalisation, just when its original mission never looked more relevant.

Financial Times
"The Global Monetary Fund Must Reform its Surveillance"
Rachel Lomax and Tiff Macklem
September 12, 2006

A progressive realist policy should look to the long-term evolution of world order and realise the responsibility of the most powerful country to produce global public or common goods. In the 19th century, Britain defined its broad national interest to include freedom of the seas, an open global economy, and a stable European balance of power. Such common goods helped Britain and other countries. They also contributed to Britain's legitimacy and soft power. With the US now Britain's place, it should promote an open global economy and commons (seas, space, internet), mediate disputes before they escalate, and develop international rules and institutions. As globalisation spreads technical capabilities, and IT broadens participation in communications, American preponderance will become less dominant later this century. Progressive realism requires it to prepare by defining its national interest in a way that benefits all.

The Financial Express
"Progressive Realism in Foreign Policy"
Joseph S. Nye
August 31, 2006

Above all, the United States, Joffe says, must construct what he calls "international public goods." By these, he means anything that delivers "benefits all can enjoy once they exist." Included in this catchall is everything from the World Trade Organization to an American role as "extraregional balancer," whether in Asia to offset China's rise, or in the Middle East.

International Herald Tribune
"The Burden of Unprecedented Global Power"
Roger Cohen - The New York Times
July 14, 2006

Last month, the Organisation for Economic Cooperation and Development held a workshop in Paris (See http://tinyurl.com/r3sy6) to investigate possible policies for access to public-sector information (PSI). The problem, illustrated by Metro Consult's experience, is that countries are not starting from the same place. While nearly all democratic governments agree on the principle of allowing access to PSI (subject to measures to protect privacy and national security), attitudes to business re-use could not be more different. Take pricing. Policies on what public-sector agencies should charge range from "cost recovery plus profit"-- the state aims to earn a return on its asset -- to "free dissemination and marginal cost", the aim of our campaign.

The main free dissemination example is the US. Its policy of free access is summed up by a 1996 circular by the federal Office of Management and Budget, which states: "The economic benefits to society are maximized when government information is available in a timely and equitable manner to all."

The consequence is a policy that treats PSI as a global public good. Federal agencies can charge only the marginal cost of meeting a request for data. European governments, by contrast, generally seek to recover the costs of collecting or disseminating the data - or even, in the case of some "trading funds" in the UK, turning a profit for the exchequer. In this climate, moves t encourage greater access to and re-use of PSI quickly clash with other government policies to cut public spending. France, for example, has been struggling with the question of PSI since 1992. A new law, however, forbids exclusive licences and sets maximum charges, based on the cost of dissemination. Likewise last June, Denmark's parliament passed a law imposing marginal cost pricing for data.

The Guardian
"Time to Adopt the American Model"
Michael Cross
June 15, 2006

If CCX were simply a giant eBay, there would be nothing to do but celebrate Sandor's gumption and step back and see if his vision had wings. But creating a market for public goods is different from creating a market for Elvis memorabilia. Sandor is in the business of commodifying the air we breathe, and in that regard he is indeed a revolutionary, pushing the boundary between public and private and, in the process, raising new questions about what capitalism can and cannot do. It's easy to see how a carbon market might be designed to enrich traders and investment banks; what is still far from clear is whether one can be designed that will significantly reduce greenhouse gas emissions. It may seem paradoxical, but the real lesson of CCX could turn out to be that markets may be wonderfully efficient systems, but they are no substitute for strong government action--both in setting the broad social goals of how to deal with global warming and, in the case of carbon markets, ensuring that the rules are not inclined in favor of private interests.

The New York Times
"Capital Pollution Solution?"
Jeff Goodell
July 30, 2006

Tuberculosis (TB) is a global threat. Nearly two million people die of this infectious disease every year, despite the fact that a highly cost-effective TB control strategy exists. One third of the population in the world has been infected. Nine million new cases have been discovered every year, at least one case per second.

Millions more are unable to work or care for their children due to TB, resulting in significant social and economic costs. The epidemic is worsening, especially in places where the HIV/AIDS epidemic also rages. In addition, there are increasing reports of multi-drug resistant TB strains. If health authorities do not act fast, we could quickly lose ground on health and development gains.

In this era of international trade, travel and migration, tuberculosis control is increasingly seen as a global public good. It makes sense to invest in TB control as the benefits accrue to all communities.

Taiwan News
"New Plans to Stop TB"
Ma Kang-Yao
March 21, 2006

Available at:
http://english.www.gov.tw/TaiwanHeadlines/index.jsp?categid=10&recordid=92605

In this type of evolving environment, the European Union is developing capabilities of not only signing Association Agreements with neighboring states, funding civil society in transition states, but also developing their instruments to apply pressure externally where state failure and distortions of the public sphere are a matter of broader international concern. The development of these regional and international mechanisms working with locally based civil society organizations should bolster the ability of these institutions to take pre-emptive action against states which veer from the norm of international conventions and which threaten regional stability. By being able to objectively monitor distortions in the public sphere and state apparatuses, there may be greater opportunities for productive engagement and capacity development. Additionally, developing better standards of communication policy and monitoring methods through regional and international bodies, the European Union and regional nation-states can integrate in a more holistic manner with a more common framework of engagement in coordination with the United Nations. Concepts such as Global Public Goods developed by the UNDP provide a great starting point around which transition states can articulate the need for basic standards in their societies.

Scoop
"The Public Sphere in Conflict and Transition State"
Am Johal
March 20, 2006

Available at:
http://www.scoop.co.nz/stories/HL0603/S00279.htm

The World Bank will continue to operate in Uzbekistan despite a decision by the lender's president last week to suspend new lending to the Central Asian country, Reuters reports a Bank spokesman said on Thursday. "The Bank is not pulling out," said Nick van Praag, World Bank spokesman for Europe and Central Asia. "We will remain engaged and continue to implement an existing portfolio of projects," he added.

The Bank currently has six active development projects in Uzbekistan, in areas including health, water supply and waste management. Between 1992 and 2005, the Bank had approved $639 million for 16 projects there. Van Praag said the Bank would proceed with analytical, capacity building and technical assistance services in Uzbekistan and, if the government wishes, it could finance projects that have a "global public good" dimension such as bird flu.

But he also said the environment in Uzbekistan was "not conducive to the development process and the kind of impact we'd like to see." The Bank has denied that the Uzbekistan decision was part of a clampdown on corruption by World Bank President Paul Wolfowitz in countries the Bank operates in. Watchdog group Transparency International has cited the country as one of the world's most corrupt.

The move by the World Bank follows a decision by the European Bank of Reconstruction and Development to cease lending to the Uzbek government in 2004, citing slow reforms and human rights violations.

Reuters
"World Bank Says Not Withdrawing From Uzbekistan"
March 17, 2006

Available at:
http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/0,,date:2006-03-
17~menuPK:34461~pagePK:34392~piPK:64256810~theSitePK:4607,00.html#Story4

China, India, trade, climate change, energy insecurity, Japan's recovery, Europe's economic and political future, Google, the information age, internet security, global imbalances and Iran's nuclear programme ¨ what do all these topics have in common? One answer is that they were all discussed at the annual meeting of the World Economic Forum in Davos. A deeper one is that they all come under the rubric of "opportunities and threats of globalisation".

Larry Summers, president of Harvard University and former US treasury secretary, argued at Davos that the world is going through a transformation as profound as the Renaissance or the Industrial Revolution. The claim is not absurd. As Mr Summers argued, technological change and the entry of billions of Asians into the world economy are changing the world. These changes are both a consequence and a cause of the worldwide move to the market, which we call globalisation....

As obvious as the growing impact of all these changes are the vast challenges they create. Consider just a few of the most important.

First, business has to learn to cope with a world that is far more competitive and dynamic than any they have been used to. Policymakers must give them an environment that allows them to do so - a point that many European governments still fail to grasp.

Second, governments of high-income countries need to tackle the changes created by globalisation, without surrendering to protectionism.

Third, governments must also find ways to manage the consequences of liberalised capital flows for exchange rates and the global balance of payments as smoothly as they can.

Fourth, those responsible for developing countries, including the donors, must find ways to help those who have been least able, hitherto, to exploit the opportunities and manage the dangers of this new world.

Fifth, policymakers must form long-term energy policies that facilitate rising consumption of energy. That has been the constant of the past two centuries. Asia's rise guarantees that this will not change.

Sixth, decision-makers must assess the significance of climate change and find ways of dealing with it, presumably through a combination of abatement and adaptation.

Last but not least, the governments of the world will need to co-operate to ensure the most fundamental global public good of peace and stability.

This is a new and, in many ways, a brave world. It is now up to us to show that we deserve to inhabit it.

Financial Times
"Confronting Seismic Economic Shifts"
Martin Wolf
January 31, 2006

Yes, many problems-financial crises, pollution, criminal networks, and terrorism, to name a few-are rooted in some countries more than others. But these problems are increasingly spilling across borders and will spread even further unless several-often many-countries work together. The United States, Europe, and Japan weren't able to duck the consequences of the SARS virus in 2003-nor will they be spared an avian flu epidemic-by simply protecting their own borders. Their fortunes are inextricably tied to how well China, Vietnam, and other Asian countries control their next deadly outbreak. Indeed, experts fear that the organizational, financial, and medical capabilities now in place to combat an avian flu epidemic are woefully inadequate, despite the fact that governments are clearly worried and raising their budgets to address this threat.

The global economic imbalances associated with America's budget and trade deficits, China's exchange rate, or Europe's slow growth may eventually cause job losses, reduced income, and more poverty. Those are bad outcomes. But they pale in comparison to the consequences of the imbalance between the supply and demand of global public goods. That is an imbalance that every year kills thousands of people and will increasingly hit closer to all our homes. Everywhere.

Foreign Policy
"The Most Dangerous Deficit: Why the supply and demand for global public goods could kill you"
Moisés Naím
January/February 2006

Available at:
http://www.foreignpolicy.com/story/files/story3347.php

As far as ideas for mainstreaming initiatives to benefit low-income countries go, here is a much better one. The Rainforest Coalition, a group of ten countries including Papua New Guinea, Costa Rica and Bolivia, proposed an initiative at the UN conference on Climate Change in Montreal last month. The countries are asking to be included in the "cap and trade" emissions schemes that have come about to achieve the reduction of CO2 emissions demanded by the Kyoto Protocol.

If accepted, these low-income countries will become part of a system that allows heavily polluting countries to buy "carbon offsets" from those that produce less than their allocated quota of emissions. As these low-income countries will benefit economically from reducing timber logging, this proposal could help preserve rainforests and benefit local development.

The rainforest nations currently have no market incentive either to cut their emissions or to maintain their rainforests, which perform the crucial role of providing a global "carbon sink" and protecting biodiversity. By helping to maintain climate and ecological stability, rainforests are a global public good ¨ and it is about time that developed nations paid their share towards their upkeep.

Ethical Corporation
"Nestlé and Fair Trade - Not so Fast"
Shilpa Shah
January 23, 2006

Available at:
http://www.ethicalcorp.com/content.asp?ContentID=4070

Controversial financier and thinker George Soros coined the term "market fundamentalism" to criticise the assumption that an unfettered Adam Smith's hand rules global capitalism for the better.

His thinking favours mechanisms for introducing stability to mitigate the free flow of funds, as something that should not rely overly on the state system.

Mr Soros takes the view that global markets require international institutions capable of sustaining them. The reform of economic institutions such as the WTO and the IMF is, therefore, needed.

Tied to this, governments need to cooperate to deliver "global public goods", such as the preservation of peace, the alleviation of poverty and protection of the environment and human rights.

In Asia, some governments have tried to command the market, and others have tried to ignore it. Many have also limited interstate cooperation for fear of compromising their sovereignty. Recognising the global challenges ahead requires politics and markets to be linked in new and more complex ways.

We cannot easily predict what lies ahead in 2006. But open societies with more responsive and accountable governments, as well as better structured, inclusive and open markets, will prove more resilient and capable in dealing with whatever comes.

Today
"Up ahead: Status quo or Sudden disaster?"
Simon Tay
January 4, 2006

Available at:
http://www.channelnewsasia.com/stories/analysis/view/186517/1/.html

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