Free Republic

he Federal Reserve’s aggressive tightening policy has led the US dollar to appreciate to multi-decade highs, squashing currencies around the world. Now, a United Nations agency is warning that its actions, along with those of other central banks, risk pushing the global economy into recession. What’s happening: In a new report, the United Nations Conference on Trade Development (UNCTAD) said that tightening monetary policy, meant to fight inflation, could inflict worse damage globally than the financial crisis in 2008 and the Covid-19 shock in 2020.

Large-scale repatriations by US multinationals following tax reforms under President Donald Trump meant total foreign direct investment (FDI) in the Republic fell sharply in the first six months of 2018. New figures show that FDI in Ireland went into reverse in the first half of the year as many US companies moved to repatriate accumulated foreign earnings from their affiliates abroad. According to statistics from the United Nations Conference on Trade and Development (UNCTAD), total FDI inflows to the State declined by $81 billion (€71 billion). With $2 billion of that accounted for by new investments, the figure for capital...

GENEVA (Reuters) - Record growth in the world's poorest countries has failed to prevent an increase in their total numbers of poor people, the U.N. Conference on Trade and Development (UNCTAD) said on Thursday. Recent rising food costs threaten to undercut what modest progress has been achieved, while three quarters of people living in least developed countries (LDCs) still survive on less than $2 a day, it said in a report. Income under $2 a day does not allow most people to meet basic needs for food, water, shelter, health or education, the Least Developed Countries Report 2008 noted. The...

Executive Summary The United Nations is celebrating its 40th anniversary amid much hoopla and endless expressions of goodwill. Last month dozens of heads of state descended on New York for the opening of the 40th session of the General Assembly; scores more are expected for the official commemorative festivities the week of October 21. Despite widespread and withering criticism of the institution in recent years--in September Singapore's foreign minister, Suppiah Dhanabalan, told the General Assembly that the UN's prestige "is at an all time low"[1]--hope burns eternal. Austrian ambassador Thomas Klestil recently reaffirmed his nation's support for the international body:...

SAO PAULO, Brazil, June 17 (Xinhuanet) -- "Policy space" must be granted to developing countries in their participation in international trade and trade negotiations, Sha Zukang, Chinese ambassador to the United Nations Office at Geneva and other international organizations in Switzerland, said here on Thursday.     The most significant embarrassment developing countries are facing today is that developed nations always dominate in the decision-making of trade rules, some of which are even harmful to the sovereignties and development of poor countries, he said in anexclusive interview with Xinhua.     Every member in the international community has the right to choose their own...

GENEVA (AP) - Global treaties to cut barriers to international trade aren't enough to boost the economies of the world's poorest nations, a senior United Nations official said Wednesday. Countries can't benefit from easier access to foreign markets unless they get help to improve their infrastructure, train staff and attract investment, said Rubens Ricupero, secretary-general of the U.N. Conference on Trade and Development. Without that help, nations simply can't supply the products even if consumers want to buy them, he said. "I think there is more to the equation that trade brings development than trade negotiations, because we have to...

Spotlighting downturns, UN agency challenges current economic wisdom 2 October – The United Nations Conference on Trade and Development (UNCTAD), in its annual world economic forecast released today, challenged industrialized countries struggling to get out of a slump to coordinate growth policies, increase global demand and head off the threat of deflation. "There is a global glut in both labour and product markets, with too many goods chasing too few buyers and too many workers chasing too few jobs," UNCTAD Secretary-General Rubens Ricupero said in his overview of the Trade and Development Report 2003. "Intense price and exchange rate competition...