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2. How can we work towards economic recovery for all? Financing for Development: the issues, challenges, and opportunities in 2021
- Author:
- Sarah Cliffe, Karina Gerlach, and Leah Zamore
- Publication Date:
- 04-2021
- Content Type:
- Commentary and Analysis
- Institution:
- Center on International Cooperation
- Abstract:
- 2021, we all hope, will be the year of recovery. If COVID-19 vaccines are rolled out at scale, including in the developing world, global economic recovery will be large. But that in itself ensures neither that all countries will be included in the recovery, nor that all people within each country will see the gains. A rising tide, as we have seen only too well since US president John F. Kennedy first used the phrase in 1963, does not lift all boats. Elsewhere, CIC has analyzed the high demand for transformative policies in high- and low-income countries alike since the COVID-19 crisis began, including policies for domestic action on inequality and socioeconomic exclusion. This piece takes a more global view and considers how to ensure that all countries benefit, and examines the issues, challenges, and opportunities in financing for development. It looks first at the key political messages that explain why 2021 should be a year of urgent, ambitious global action for shared economic recovery; secondly at the measures under discussion (which are expanded in an annex); thirdly at the political interests at play; and fourthly at foreseeable scenarios for agreement. Last, we outline the calendar of relevant policy meetings this year and the challenge of orchestrating progress between them.
- Topic:
- Governance, Reform, Finance, Multilateralism, and COVID-19
- Political Geography:
- Global Focus
3. It’s Time to Go Back to Basics of Governance
- Author:
- Nanjala Nyabola
- Publication Date:
- 07-2021
- Content Type:
- Commentary and Analysis
- Institution:
- Center on International Cooperation
- Abstract:
- The COVID-19 pandemic is an opportunity to re-evaluate the principles or ideas that are at the heart of theories of government, that is the fundamentals of governance and public theory. What is government for, but also what should government do and how. Engaging with the crucial philosophical questions of governance is integral to building back better: going back to basics is a major step in figuring out how to prevent mistakes from happening again. The social contract is one such principle: the idea of a social contract is central to answering the question of what governments are for: explaining why people obey laws, providing answers to why we live in societies, and why we abide by social rules and norms. Recognizing the ongoing debates, national and international, around the meaning and origins of the term social contract, this paper by Nanjala Nyabola tries to point to some of the important thinking from the south and from non-western sources and traditions that have helped shape modern understanding of social contract theory. It is not intended to be a comprehensive review, in such a short paper, but rather a selection that reflects the richness and variety of such sources and how they have impacted thinking throughout the ages. Overall, looking at ideas of social contracts outside Western philosophical tradition reminds us that it is not just about the form of the social contract or that all political organizations must be identical. These theories also remind us that compulsion and punishment are not a strong foundation for strong systems of governance. We have to create societies that people want to live in.
- Topic:
- Security, Governance, Reform, Fragile States, and Multilateralism
- Political Geography:
- Global Focus
4. Multilateralism and the Superpower
- Author:
- Jeremy Greenstock
- Publication Date:
- 02-2021
- Content Type:
- Commentary and Analysis
- Institution:
- American Diplomacy
- Abstract:
- Editor’s note: The author served as UK Ambassador to the UN 1998-2003. The UN, with its network of institutions and agencies, is the only truly global organisation. It is a great experiment, not in global governance, because the political direction of the UN lies firmly in the hands of sovereign nations, but in providing both norms and tools for managing the international arena 1. Its system is flawed and may well be unimprovable. But what it tries to do, and does, is indispensable for the avoidance of catastrophic war and for the development of a sustainable world. The UN as an institution is also, not unlike the American Constitution, an adversary of raw power. Born in an era of war and empire, its charter and principles provide shelter and help for weaker nations, and set limitations on the capacity of the strongest countries to throw their weight around selfishly—the generator of empires and wars. It came into being at the instigation of the great powers, and so they know —or they used to know—what they were creating and why. The United States was at the centre of it, seeing it as a great step towards the ending of the era of imperialism. The UN is not just about what happens in the Security Council. The work of the Secretariat, the funds, agencies and programmes, and indeed of several of the intergovernmental institutions such as ECOSOC, is primarily dedicated to every aspect of international development. They act on the premise that if a large part of the world is racked by poverty and disease, the more fortunate part will not have a stable environment in which to enjoy their relative success. The history of regional conflict over the last 75 years bears this out. As the UK’s Permanent Representative between 1998 and 2003, with a permanent place on the Security Council, I made a point of setting my inevitable focus on the Council’s work in the context of this wider UN purpose. The maintenance of international peace and security is an essential component of sustainable development, not just an end in itself.
- Topic:
- Security, United Nations, Governance, Sustainable Development Goals, Multilateralism, and Peace
- Political Geography:
- Global Focus and United States of America
5. If you Can't Beat Them, Join Them: Should States Embrace Bitcoin?
- Author:
- Jesse Colzani
- Publication Date:
- 09-2021
- Content Type:
- Commentary and Analysis
- Institution:
- Istituto Affari Internazionali
- Abstract:
- Bitcoin – the most secure and well-established technology to store value[1] – was created in 2008 to challenge the state’s centralised monopoly on money. It is a digital currency worth 1 trillion US dollars that knows no boundaries and is not controlled by any central authority. Although it is considered a threat to the established order, countries and institutional actors are gradually realising Bitcoin can also be a tool to advance their economic and geopolitical interests. Today, governments find themselves in the difficult position of having to decide whether Bitcoin should be integrated into their economies and governance structures or if they should continue to oppose, block or seek to co-opt the digital currency. But to understand Bitcoin and make an informed decision, one has to first appreciate the different components of its ecosystem.
- Topic:
- Political Economy, Governance, Currency, Digital Policy, and Bitcoin
- Political Geography:
- Global Focus