Tag Archives: globalized economy

There is more aid in the world, but far less for fighting poverty

Farida Bena

More and more foreign aid seems to be doing less and less of what it’s supposed to.

DB-POP Today

Shanties in Port-au-Prince, Haiti. Photo: David Braughton

Every year the OECD, an inter-governmental organization made up of the world’s richest countries, releases figures on how much aid, or overseas development assistance, goes to developing countries. On the surface, the latest released data from 2015 suggests a reason to celebrate: once you take out inflation and exchange rate changes, the overall net amount of aid keeps rising, totaling $131.6 billion after an already record-high couple of years. That’s quite an achievement, particularly for those European donors who last year had to face major unexpected challenges, such as the arrival of migrants and refugees at their doorstep.

Look deeper into those figures and the picture changes quite a lot. Welcoming those refugees in donor countries was actually paid for by money that was meant to be used for other, equally important purposes, like fighting poverty and disease in the global South. These costs nearly doubled last year, meaning that a sizeable portion of ‘international’ aid – up to 34 percent of individual donors’ pots – never crossed Northern borders in reality. Continue reading

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On Hope and Hype: Reflections on a New Year’s Tradition

Ven. Bhikkhu Bodhi

2016 New Year's at CYM

At the dawn of a new year it’s customary to suspend our habitual cynicism about human nature in order to express joyful hopes for the year that lies ahead. While this practice helps to spread good cheer, at least for a day, it often seems to me an exercise with no practical consequences. How, I ask myself, can declaring my hopes to others make a dent in a world oblivious to our dreams? How can we expect the mere change of a date to alter the conditions under which we live?

The practice, I fear, may not be very different from a drug habit. Both seem to serve a similar purpose. If I find my life’s circumstances intolerable, I may try to numb my pain and frustration by taking a drug. If I perceive the world descending into chaos, I  try to console myself and cheer up others by declaring that this year things will be better. In this way, hope may turn out to be little more than hype: a psychological hypodermic needle filled with a mind-numbing narcotic, a hyperbole that obscures the grim reality that engulfs us all.
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Climate Change and Food System Shocks: Threats of Cascading Catastrophe

Charles W. Elliott

Food System Shocks
A global pre-eminent insurance market is waving red flags about the risk of climate-change shocks to our world food system that could quadruple the price of basic food commodities, cause widespread famine and social instability, and  bring down governments. Are world capitals paying attention?

Adding to the chorus of voices warning of threats to the global food system caused by climate change is global insurer Lloyds, which recently issued its report, “Food System Shock: The insurance impacts of acute disruption to global food supply“.  Food System Shock is one in a series of Lloyd “emerging risk” reports that address risks that are “perceived to be potentially significant but which may not be fully understood or allowed for in insurance terms and conditions, pricing, reserving or capital setting.”  This is not the first risk report on climate change issued by Lloyds (see, Lloyds’ Catastrophe Modelling and Climate Change (2014)), nor the first to address global food security (see, Lloyds’ Feast or Famine (2013)).  But it is the first by Lloyds to connect these two, explicitly addressing the impacts of climate change on food production and follow-on effects to society in a globalized economy.
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Climate Change is a Moral Issue

A Buddhist Reflection on the Pope’s Climate Encyclical, Laudato si’

Ven. Bhikkhu Bodhi

On June 18, Pope Francis issued an encyclical letter, Laudato si’ (Praised Be), “On Care for our Common Home,” pointing to climate change as the overriding moral issue of our time. The encyclical boldly proclaims that humanity’s capacity to alter the climate charges us with the gravest moral responsibility we have ever had to bear. Climate change affects everyone. The disruptions to the biosphere occurring today bind all peoples everywhere into a single human family, our fates inseparably intertwined. No one can escape the impact, no matter how remotely they may live from the bustling centers of industry and commerce. The responsibility for preserving the planet falls on everyone.

The future of human life on earth hangs in a delicate balance, and the window for effective action is rapidly closing. Tipping points and feedback loops threaten us as ominously as nuclear warheads. What heightens the danger is our proclivity to apathy and denial. For this reason, we must begin tackling the crisis with an act of truth, by acknowledging that climate change is real and stems from human activity. On this, the science is clear, the consensus among climate scientists almost universal. The time for denial, skepticism, and delay is over.
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Ending Extreme Poverty by 2030: A New Initiative

Ven. Bhikkhu Bodhi

HKI-Bangladesh Markets

Over the past few months, global leaders representing a wide spectrum of faith communities collaborated on a  project convened by the World Bank Group to send forth a collective moral call to end extreme poverty by 2030, a goal development experts consider feasible. The group worked together to draft a narrative titled “Ending Extreme Poverty: A Moral and Spiritual Imperative,” due to be officially released tomorrow (April 9th) at noon EDT. The statement, which grounds the imperative to end extreme poverty in humankind’s spiritual and religious traditions, should open a new front in our global efforts to create a more just and equitable world, a world that works for everyone.

Buddhist Global Relief has been an integral partner in this project, whose aim corresponds to our own guiding vision: “the vision of a world in which debilitating poverty has finally been banished; a world in which all can avail themselves of the basic material supports of a meaningful life.” I had the privilege of serving as a member of the committee responsible for drafting the statement and helped to ensure that the final formulation would be acceptable to Buddhists as well as to representatives of the monotheistic faiths.
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More Food or New Colonialism for Africa?

Charles W. Elliott

In a recent (June 30, 2013) speech in Cape Town, South Africa, U.S. President Obama announced new overtures to support agriculture in Africa.  But the people of Africa need to be on their guard lest these renewed efforts to “help farmers” in Africa become mere Trojan horses for corporate colonialism.

President Obama declared that “Governments and businesses from around the world are sizing up the continent, and they’re making decisions themselves about where to invest their own time and their own energy.”  With phrases invoking American generosity, he proclaimed that:

Instead of shipping food to Africa, we’re now helping millions of small farmers in Africa make use of new technologies and farm more land.  And through a new alliance of governments and the private sector, we’re investing billions of dollars in agriculture that grows more crops, brings more food to market, give farmers better prices[.]

No one would complain if the United States and its corporate partners would help “millions of small farmers” grow more food.  But we wonder: what kind of agriculture is the beneficiary of billions of dollars of investment?  And what are the “new technologies” that purportedly will help those millions of small farmers?
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A Planet Under Pressure

Ven. Bhikkhu Bodhi

From March 25th to March 29th, a “Planet Under Pressure” conference was convened in London as a prelude to the Rio+20 convocation due to take place in June this year. The conference brought together scientists, economists, and policy experts to explore the formidable challenges we face as a global community. These challenges span multiple dimensions—scientific, social, economic, environmental, and educational—but they are intimately interconnected and the hub on which they all converge is the task that engages Buddhist Global Relief. This is the need to produce sufficient food to feed a global population that by mid-century is likely to hit nine billion people, and to do so on a planet going through cataclysmic changes.

Although at present the world produces a surplus of food, close to a billion people, mainly in the global South, struggle daily with the ordeal of chronic hunger and malnutrition. The industrialized North, in contrast, faces a problem of a different sort. Here, millions consume to excess foods loaded with fats, sugars, and salt. The result is high rates of chronic illnesses such as cancer, diabetes, and heart disease. These conditions prevail most among the poor, for it is those who cannot afford nutritious food that are compelled to resort to cheap, calorie-laden substitutes detrimental to their health.

The problem we must solve, and solve with utmost urgency, is increasing agricultural productivity while at the same time ensuring greater equity in the distribution of food, especially for those at risk. If, despite a surplus of food production, a billion people still go hungry today, our task will be so much more difficult in 2050, when there are two billion more bellies to feed. Not only will the numbers of people rise, but the planet will also continue to heat up, resulting in diminished agricultural yields. To shift the arc away from crushing malnutrition will require drastic changes in the prevailing food system, which is currently geared more toward profits than toward health and food justice.
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