Friday 30 Oct 2020 | 06:21 | SYDNEY
What's happening on

Global Issues

New Caledonia: Australia must show assertive impartiality

Thirty years ago to the week, New Caledonia was torn apart by violent protests. The pro-independence FLNKS boycotted an election and town halls were burned throughout the country. It provoked a four-year long civil war euphemistically known as 'the events'. At first, Australia supported the Kanak

A G20 watcher in Brisbane

I am from Brisbane, and somewhat ironically, my original ticket out of this city was the G20 analysis I conducted while studying and working at the University of Queensland. In a serendipitous turn of events, Australia and my hometown city were announced as 2014 G20 hosts during that research, which

Weekend catch-up: A G20 special

With the Brisbane G20 Summit on this weekend, The Interpreter's usual weekend catch-up makes way for a 'best of' our G20 material from the past year. The Lowy Institute's G20 Studies Centre has been publishing on all aspects of the Summit, including what the presidency has meant for Australia, as

Is the Global Infrastructure Hub more than a G20 legacy monument?

By Hugh Jorgensen, Research Associate and Tristram Sainsbury, Research Fellow, both at the Lowy Institute's G20 Studies Centre. Infrastructure has been a priority of the Australian G20 presidency, but we haven't seen much in terms of bricks and mortar proposals. Until now. Writing in The

How the East Asia Summit can achieve its potential

Asia's summit season kicks off this week with the 20th APEC 'economic leaders' meeting in Beijing. The region's political jamborees have become very cluttered of late and leaders from all of Asia's key powers may become a little tired with one another's company. After APEC they will jet to Naypyidaw

What will New Zealand do with its UN Security Council seat?

New Zealand's decisive victory at the UN last month,  winning a Security Council seat for two years from January 2015, surprised even the quietly confident. Securing 145 votes out of 193 in the first round of voting assured New Zealand the two-thirds majority required to get onto the Security

The case for Pacific Island regionalism

A few months ago I stood on a beach in Tarawa, the most populous of islands comprising the Micronesian nation of Kiribati. It's long and thin sliver of land where you can walk from one side of the island to the other in minutes. It has a population density up to twice that of Sydney or New York, but

Will the G20 address inequality at the Brisbane summit?

Of the 60-plus official meetings that have taken place under Australia's 2014 G20 presidency, a grand total of one has managed to produce a final communiqué or meeting report that mentions the word 'inequality'. To be fair, it does mention it twice: the 10-11 September declaration of G20 Labour and

China's coal addiction

A recent paper in Nature says that 'no other country is investing so much money or generating so much renewable energy' as China. 'Its build-up of renewable energy systems at serious scale is driving cost reductions that will make them accessible to all.' The International Energy Agency reckons

Whitlam's Indonesia leadership was far from 'visionary'

It is certainly fitting to examine Gough Whitlam's foreign policy record and considerable achievements. However, in seeking to whitewash the controversy over Whitlam's role leading up to Indonesia's brutal invasion of East Timor in December 1975, Gary Hogan's piece does us all a great disservice.

Why Larry Summers might be wrong about China's growth

Forecasts of China's growth always attract interest, even when they are a year old. Larry Summers and Lant Prichett are getting another good run with the paper they published last year (see my earlier post), which analyses emerging-economy growth in general, but of China and India in particular

Whitlam's visionary leadership on Indonesia

As commentators rightly eulogise Gough Whitlam's foreign policy achievements, most of the attention has focused on his grand outreach to communist China and the independence of Papua New Guinea. These two acts were conspicuous hallmarks of Whitlam's game-changing diplomatic moments. A 1979 Peter

Can Australia remain a top 20 nation?

A few times over the past year, Minister for Foreign Affairs Julie Bishop has referred to Australia as a 'top 20 nation' or a 'top 20 country'. She prefers this to the standard description of Australia as a middle power, a term she has mostly avoided. As she responded to the Sydney Morning Herald's

G20 Monitor: The G20’s growth agenda

This issue of the G20 Monitor provides a guide to the policies that G20 members will have to tackle to achieve the G20’s 2 per cent growth target, drawing on the recommendations of the IMF, OECD and a number of international think tanks

The WTO is in big trouble

The Director-General of the World Trade Organisation (WTO), Roberto Azevedo, says the institution has descended into 'paralysis'.  Director-General of the World Trade Organisation, Roberto Azevedo, Bali, 2013. Following the failure to get India to remove its objection to advancing the

Which countries are driving global growth?

Sometimes a picture is worth a thousand words. With the G20 focused on increasing economic growth, it's worth remembering where the global action is. The above graph from the IMF Multilateral Policy Issues Report, published in July, shows that the emerging economies have been doing the heavy

China wants a bigger piece of the smartphone business

The smartphone in your pocket embodies today's cutting-edge technology. It is also a product of a global supply chain decidedly old-school in the way it shares rewards. Two brands, Apple and Samsung, scoop over 100% of the profit pool (the other brands are losing money, giving them negative

Why the IMF's poor forecasting matters

Economic forecasting is the butt of jokes, but someone has to do it. You can't make sensible macro policy without some view of how the economy will travel. It's the IMF's thankless job to be the high-profile forecaster for the globe. The Fund's latest World Economic Outlook acknowledges its recent

Ebola: Lessons from earlier pandemic scares

In July 2014, Australia's Chief Medical Officer, Dr Chris Baggoley, assured us that the risk of the deadly Ebola virus spreading to Australia from West Africa was very low. At that stage, cases of this most recent outbreak of the disease had been confined to West African countries and in particular

Ebola: It is time for Australia to act

By Catherine King MP, Federal Shadow Minister For Health and the Member for Ballarat. The Ebola crisis is no longer a humanitarian crisis for West Africa; it now poses a direct threat to world economic growth and if not contained, will spread well beyond the borders of Sierra Leone, Liberia and

IMF changes its tune on infrastructure

In its latest World Economic Outlook, the IMF has joined the chorus of international institutions (G20, OECD) calling for more infrastructure spending. What new elements does the Fund bring to this argument? Global growth has been disappointing. One reason is that governments have cut back on

ABC bureaux closures: Sacrificing the bang for the bucks?

The latest news from the ABC bunker is that while Lateline may survive the latest round of cuts, the bureaux in Tokyo and Delhi may be shut down. The ABC Board met yesterday, reportedly to decide on measures to achieve efficiencies of up to $100m following the Budget and the Lewis Review, and in

Terrorism at home: The law cannot save us

I picked up my tickets for tomorrow's AFL Grand Final the other day. My team, the Sydney Swans, is playing and I should be excited to be going. Instead, I have been infected by the unease gripping Melbourne. I ask myself, am I taking a risk by attending the game?  We are told by our political

Indonesia's economy at a crossroads

With the passing of the presidential baton from Susilo Bambang Yudhoyono to Joko Widodo just a month away, Indonesia is at a political crossroad, with the first clear break from the politicians who were part of the Soeharto years. Monday's Indonesia mini-update at the Lowy Institute, a half-day

If Justin Lin is right, industrial carnage awaits

Justin Yifu Lin insists China can grow at 7-8% for another 20 years. A contrarian with a remarkable personal background, the former World Bank chief economist's views influence his country's top leaders and their sense of destiny. What he says matters. How, and how fast, China grows will be highly

Turkey: Cautious partner in battle against ISIS

Judging from President Obama's 10 September speech announcing the expanded operation against ISIS and the Jeddah Communique that John Kerry hammered out last week, Obama is expecting a lot from Egypt, Jordan and Gulf states like Saudi Arabia. At a minimum, the Communique (which is hardly binding)

The other humanitarian crisis

The ramping up of the international effort against ISIS has consumed much of the world media's attention in the last few weeks. However, there is another international crisis unfolding that has killed on a comparable scale, and which threatens to claim many more lives.  The Ebola epidemic

The end of economic convergence? Not quite

Given that emerging economies continue to grow two or three times faster than advanced economies, the persistent gloom about their prospects is puzzling. The latest example comes from The Economist, which argues that convergence, the process by which poorer countries catch up to rich countries

Obama and ISIS: Snowden leaks reveal tough choices

  Though the US President will be the last to trumpet it, a revelation from the Edward Snowden National Security Agency dossier unveiled late last month might provide some context for the difficulties he faces in plotting a course of action to counter the threat of the Islamic State (IS) movement

G20 2014: Reform of the international organisations, financial regulation, trade, accountability and anti-corruption

This issue of the G20 Monitor discusses the reform of international economic institutions, financial regulation, and the trade, accountability and anti-corruption agendas at the forthcoming Brisbane G20 Summit. It also provides a summary of the key ideas from the ‘G20 Conference: Strengthening

The environment and the news cycle

I loved this bit from US environmental activist Bill McKibben, who is guest blogging on Andrew Sullivan's site: Every day there’s something more immediately important happening in the world: ISIS is seizing an airbase this morning, and California is recovering from an earthquake, and Michael

A breakthrough in Chinese climate policy? Not likely

I argued back in April that China's 'synthetic natural gas' (syngas or SNG, which is gas made from coal) is 'bad economics, bad science and an environmental catastrophe'. I also said that 'what is striking is the ambition of Chinese plans versus the widespread scepticism of SNG worldwide and

G20 must save the WTO, among other things...

As John Lennon wrote, 'life is what happens when you are busy making other plans.' How true for Australia's plans for the G20. Life is not being kind in the lead-up to the Brisbane G20 Summit. The head winds for the summit so far include: International organisations (the IMF and World Bank)

G20 2014: The G20 Brisbane Summit, inequality, energy and anti-corruption

The 12th edition of the G20 monitor contains an overview from John Lipsky on the G20’s role in global governance after the global financial crisis; a paper by Geoff Weir on the G20, Thomas Piketty, and inequality; thoughts from Hugh Jorgensen and Christian Downie on multilateral energy governance

BNP Paribas fine is G20's dollar dilemma

There are many countries which do not much like the central role of the US dollar. But while they generally (and grudgingly) agree that there is not much to be done about it for now, a punishment recently meted out by US financial regulators against BNP Paribas (BNPP) has incensed European leaders

Just how expensive is renewable energy?

I raised this topic recently when The Economist pointed to a new Brookings study which argued that the cost of renewables had been severely underestimated. There was some pushback in the comments thread, and now I see that Green Tech Media, an American green energy industry website, has also

G20: The case for an inclusive growth target

Earlier this year Treasurer Joe Hockey negotiated a significant commitment among G20 Finance Ministers to aim for an additional 2% of global growth over the next five years. As countries develop their action plans for achieving this goal in the lead-up to the next G20 Finance Ministers' meeting in

Pages