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By Jomo Kwame Sundaram
Jomo Kwame Sundaram. Credit: FAO
Jomo Kwame Sundaram. Credit: FAO

Jomo Kwame Sundaram was United Nations Assistant Secretary-General for Economic Development, and received the Wassily Leontief Prize for Advancing the Frontiers of Economic Thought in 2007.

KUALA LUMPUR, Malaysia, Apr 29 2016 (IPS) - International capital flows are now more than 60 times the value of trade flows. The Bank of International Settlements (BIS) is now of the view that large international financial transactions do not facilitate trade, and that excessive financial ‘elasticity’ was the cause of recent financial crises.

Illicit financial flows involve financial movements from one country to another, especially when funds are illegally earned, transferred, and/or utilized. Some examples include:
• A cartel using trade-based money laundering techniques to mix legal money, say from the sale of used cars, with illegal money, e.g., from drug sales;
• An importer using trade mis-invoicing to evade customs duties, VAT, or income taxes;
• A corrupt public official or family members using an anonymous shell company to transfer dirty money to bank accounts elsewhere;
• An illegal trafficker carrying cash across the border and depositing it in a foreign bank; or
• A terrorist financier wiring money to an operative abroad.

Jomo Kwame Sundaram. Credit: FAO

Global Financial Integrity (GFI) estimated that in 2013, US$1.1 trillion left developing countries in illicit financial outflows. Its methodology is considered to be quite conservative, as it does not pick up movements of bulk cash, mispricing of services, or most money laundering.

Beyond the direct economic impact of such massive haemorrhage, illicit financial flows hurt government revenues and society at large. They also facilitate transnational organized crime, foster corruption, undermine governance and decrease tax revenues.

Where Does The Money Flow To?
Most illicit financial outflows from developing countries ultimately end up in banks in countries like the US and the UK, as well as in tax havens like Switzerland, the Cayman Islands or Singapore. GFI estimates that about 45 per cent of illicit flows end up in offshore financial centres and 55 per cent in developed countries. University of California, Berkeley Professor Gabriel Zucman has estimated that 6 to 8 per cent of global wealth is offshore, mostly not reported to tax authorities.

GFI’s December 2015 report found that developing and emerging economies had lost US$7.8 trillion in illicit financial flows over the ten-year period of 2004-2013, with illicit outflows increasing by an average of 6.5 per cent yearly. Over the decade, an average of 83.4 per cent of illicit financial outflows were due to fraudulent trade mis-invoicing, involving intentional misreporting by transnational companies of the value, quantity or composition of goods on customs declaration forms and invoices, usually for tax evasion. Illicit capital outflows often involve tax evasion, crime, corruption and other illicit activities.

How Low Can You Go?
In the 1960s, there was a popular dance called the ‘limbo rock’, with the winner leaning back as much as possible to get under the bar. Many of today’s financial centres are involved in a similar game to attract customers by offering low tax rates and banking secrecy. This has, in turn, forced many governments to lower direct taxes not only on income, but also on wealth. From the early 1980s, this was dignified by US President Ronald Reagan’s embrace of Professor Arthur Laffer’s curve which claimed higher savings, investments and growth with less taxes.

With the decline of government revenue from direct taxes, especially income tax, many governments were forced to cut spending, often by reducing public services, raising user-fees and privatizing state-owned enterprises. Beyond a point, there was little room left for further cuts, and governments had to raise revenue. This typically came from indirect taxes, especially on consumption, as trade taxes were discouraged to promote trade liberalization. Many countries have since adopted value added taxation (VAT), long promoted, in recent decades, by the International Monetary Fund (IMF) and others as the superior form of taxation: after all, once the system is in place, raising rates is relatively easy.

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April 28,2016 12:54 PM
Pakistani visitors to India, usually beset with anxiety about their country`s future, are sometimes relieved to find a good number of Indians similarly worried about their country. This is perhaps due to the fact that the twin states face many identical issues, and their people thus try to find solutions in the subcontinent`s shared culture. […]
April 28,2016 11:49 AM
“Clothes make the man. Naked people have little or no influence on society,” said Mark Twain. In fewer places than Myanmar has the saying held truer where clothed men—uniformed to be more precise—have had all the influence for more than 50 years. That’s changing with Aung San Suu Kyi’s National League for Democracy winning a […]
April 28,2016 11:34 AM
In March 2016, the EU signed a far-reaching deal with Turkey to stem the flow of migrants into their union, which has spiked since September 2015. The hastily crafted deal, criticised by the UN for its disregard for human rights safeguards, requires Turkey to accept all migrants currently stranded in Greece, in return for visa-free […]
April 28,2016 10:33 AM
Last month, after receiving threats for opposing a hydroelectric project, Berta Caceres, a Honduran indigenous and environmental rights campaigner, was murdered. A former winner of the Goldman Environmental Prize for her opposition to one of Central America’s biggest hydropower projects, Berta was shot dead in her own home. In the same month, South African anti-mining […]
April 28,2016 8:37 AM
The author is an Under-Secretary-General of the United Nations and Executive Secretary of ESCAP. She has been the UN’s Sherpa for the G20 and previously served as Governor of the Central Bank of Pakistan and Vice President of the MENA Region of the World Bank. The full Economic and Social Survey of Asia and the Pacific 2016 may be downloaded free of charge at http://www.unescap.org/publications/economic-and-social-survey-asia-pacific.
April 28,2016 7:02 AM
This year Bangladesh exceeded all expectations, achieving a GDP rate of over 7 percent. With higher growth, the issue of labour rights is also gaining prominence in our national discourse, with more and more emphasis being given on workplace safety and wellbeing. Those amongst us who are educated are becoming more and more aware of […]
April 28,2016 3:53 AM
Despite formally adopting progressive laws, such as Law Number 4, and ratifying the UN Convention on the Rights of People with Disability, Palestinian authorities still struggle to get beyond rhetoric when it comes to supporting the 7 to 11 per cent of the population that is affected by disability. As the ongoing Israeli military occupation […]
April 27,2016 6:15 PM
This article forms part of a series by IPS for World Press Freedom Day, May 3.
April 27,2016 11:03 AM
Herve Verhoosel is the Spokesperson of the World Humanitarian Summit (WHS), to be hosted in Istanbul on May 23-24. He was previously leading the Roll Back Malaria office at the UN in New York and was also Head of External Relations, Advocacy and Communication. In this Op-Ed Verhoosel introduces this major event, the first ever of its kind, which will bring together governments, humanitarian organizations, people affected by humanitarian crises and new partners including the private sector to propose solutions.
By Friday Phiri
Bags of maize at the Food Reserve Agency Depot in Kasiya, Pemba district, Southern Zambia. Credit: Friday Phiri/IPS
Bags of maize at the Food Reserve Agency Depot in Kasiya, Pemba district, Southern Zambia. Credit: Friday Phiri/IPS

Bags of maize at the Food Reserve Agency Depot in Kasiya, Pemba district, Southern Zambia. Credit: Friday Phiri/IPS

LIVINGSTONE, Zambia, Apr 29 2016 (IPS) - ‘No Farmer, No Food’ is an old slogan that the Zambia National Farmers’ Union still uses. Some people consider it a cliché, but it could be regaining its place in history as agriculture is increasingly seen as the answer to a wide range of the world’s critical needs such as nutrition, sustainable jobs and income for the rural poor.

According to the United Nations Food and Agriculture Organisation (FAO), agricultural investment is one of the most important and effective strategies for economic growth and poverty reduction in rural areas where the majority of the world’s poor live. Available data indicates that Gross Domestic Product (GDP) growth in agriculture is at least twice as effective in reducing poverty as growth originating in other sectors.

Armed with this evidence, the world’s development trajectory is focusing on how the sector can boost the fight against hunger and extreme poverty—two of the major obstacles to achieving sustainable development. And the upcoming 6th World Farmers’ Organisation General Assembly slated for May 4-7 in Zambia is set to be dominated by, among other things, agricultural investment and market linkages.

"We should use the gathering to solicit for ideas and investments to improve the agricultural value chain as government sets agriculture as the mainstay of the economy." -- WFO President Evelyn Nguleka

Under the theme ‘Partnerships for Growth’, the conference is poised to deliberate on ways to encourage farmer-centered partnerships and investments aimed at improving the economic environment and livelihood of this group of producers, most of whom live in rural areas.

FAO estimates that an additional investment of 83 billion dollars will be needed annually to close the gap between what low- and middle-income countries have invested each year over the last decade and what is needed by 2050.

But for developing countries like Zambia, where would this kind of investment come from?

Evelyn Nguleka, president of the Zambia National Farmers’ Union (ZNFU), believes hosting this year’s event is an opportunity for Zambia to market itself as a preferred agricultural investment destination.

“We have the land, water, human resource and good climate which supports the growing of all kinds of agricultural produce,” Dr. Nguleka told IPS. She added that the hosting of the WFO General Assembly comes at a crucial time for Zambia, which has suffered one of the worst droughts induced by the El Nino weather phenomenon sweeping across Southern Africa.

“It is a critical point in our agricultural development that we should use the gathering to solicit for ideas and investments to improve the agricultural value chain as government sets agriculture as the mainstay of the economy,” said the ZNFU president, who is also the current World Farmers’ Organisation (WFO) president.

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By Lyndal Rowlands
The Agency Headquarters Hospital (AHH) in Bajaur Agency, shortly after a Taliban suicide bomb attack in 2013. Credit: Ashfaq Yusufzai/IPS
The Agency Headquarters Hospital (AHH) in Bajaur Agency, shortly after a Taliban suicide bomb attack in 2013. Credit: Ashfaq Yusufzai/IPS

The Agency Headquarters Hospital (AHH) in Bajaur Agency, shortly after a Taliban suicide bomb attack in 2013. Credit: Ashfaq Yusufzai/IPS

Apr 29 2016 (IPS) - Hospitals, health care workers and patients in war zones are supposed to be protected under international humanitarian law yet recent attacks from Syria to Afghanistan suggest that they have become targets.

The seeming lack of respect for the sanctity of health care in war zones has prompted UN Security Council members in New York to consider a new resolution designed to find new ways to halt these attacks.

The Security Council is expected to vote on the resolution on May 3, just days after Al Quds Hospital in Aleppo, Syria was bombed. Twenty seven staff and patients were killed in the airstrike on the hospital on Wednesday night, Dr Hatem, the director of the Children’s Hospital in Aleppo told The Syria Campaign.

Among the victims was Dr Muhammad Waseem Maaz, who Dr Hatem described as “the city’s most qualified paediatrician.”

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By Tamanna Khan

Raped, they drown in humiliation while seeking punishment to culprits

Apr 29 2016 (The Daily Star, Bangladesh) - The dead do not feel anything, but those who survive do. The horrendous experience of the insensitive two-finger test after rape. The courtroom insults during trial because a draconian law permits the accused to question the victim’s character. The families suffer no less humiliation as they wait for justice. While nations around the world have overhauled relevant laws with provisions that shield the rape victims, ours still favour the offender instead. Isn’t it time we were a little more sensitive towards the victims of a crime now regarded as a crime against society? In the wake of Tonu murder after suspected rape, The Daily Star tries to shed some light on all these aspects.
Today, the first two instalments of a three-part series.

rape_4__Her dark-circled, deep-set eyes gave her a hollow look. The eyes were full of fear and mistrust.

The girl gave sideways glances as she hesitantly walked into the office of the One-stop-Crisis Centre (OCC) at Dhaka Medical College Hospital last month. She looked afraid, and when she noticed a man sitting in the room, she immediately cringed.

She is a rape victim.

For about a week after her rescue, she hardly spoke, OCC officials recall.

Her trauma and fear is shared by another rape survivor, a married woman, who was rescued from a sex racket in India last year.

“It’s not easy to tell even your closest family members what has happened to you,” the woman told The Daily Star recently. Humiliation and shame initially prevented her from telling her husband about the sexual assault when he found her in a shelter home in India months after her rescue. Her husband later came to know about it from others.

But Joya (not her real name), a teen girl, did not need to tell anyone anything. When she was found lying unconscious beside a road by her cousin four years ago, the marks on her body said it all.

“My cousin took me to a hospital. I hardly remember anything as my mind was all confused,” she told this correspondent recently by telephone from a shelter home run by Bangladesh National Women Lawyers Association (BNWLA).

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By Jeffrey Moyo
An unidentified man struggles to bring his frail cow back on its feet in Chipinge, a district in Zimbabwe's Manicaland province. Credit: Jeffrey Moyo/IPS
An unidentified man struggles to bring his frail cow back on its feet in Chipinge, a district in Zimbabwe's Manicaland province. Credit: Jeffrey Moyo/IPS

An unidentified man struggles to bring his frail cow back on its feet in Chipinge, a district in Zimbabwe's Manicaland province. Credit: Jeffrey Moyo/IPS

BUHERA, Zimbabwe, Apr 29 2016 (IPS) - Emaciated and with their ribs jutting out, Evans Sinyoro’s cattle lie on the ground overlooking a dry patch of land while the small earth dam nearby is also dry, thanks to the El Nino-induced drought wreaking havoc across Zimbabwe.

El Niño is a complex weather pattern resulting from variations in ocean temperatures in the equatorial Pacific.

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By Tharanga Yakupitiyage
A journalist from Radio Bundelkhand in India conducts an interview. Credit: Stella Paul/IPS
A journalist from Radio Bundelkhand in India conducts an interview. Credit: Stella Paul/IPS

A journalist from Radio Bundelkhand in India conducts an interview. Credit: Stella Paul/IPS

NEW YORK, Apr 28 2016 (IPS) - For women journalists, violence and intimidation don’t just happen in conflict zones, they are every day experiences.

“You don’t even have to be in a conflict zone to be violated anymore,” New York Times reporter and author of the Taliban Shuffle Kim Barker said Wednesday at the launch of a new book documenting the daily violence and harassment which women journalists experience.

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By Thalif Deen
The pastoralists of Ethiopia’s Somali region are forced to move constantly in search of pasture and watering holes for their animals. Credit: William Lloyd-George/IPS
The pastoralists of Ethiopia’s Somali region are forced to move constantly in search of pasture and watering holes for their animals. Credit: William Lloyd-George/IPS

The pastoralists of Ethiopia’s Somali region are forced to move constantly in search of pasture and watering holes for their animals. Credit: William Lloyd-George/IPS

UNITED NATIONS, Apr 28 2016 (IPS) - Ten presidents and prime ministers from around the world will work together to resolve the growing global water crisis amid warnings that the world may face a 40 percent shortfall in water availability by 2030.

The figures continue to be staggering:  despite improvements, at least 663 million still do not have access to safe drinking water.

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