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There is no guarantee a more democratic Africa will be prosperous and peaceful, but one ruled by autocrats and generals will surely not be.
Sayfa 10
Meanwhile, geopolitics has grown friendlier to autocrats. If the West withholds arms or loans from African juntas, China and Russia are happy to step in. So, too, are unsqueamish middling powers such as Turkey and the United Arab Emirates. Western governments have sometimes acted shabbily, turning a blind eye to a coup in Chad and electoral theft in Congo. Their hypocrisy undermines the democratic values they espouse.
Sayfa 10
“the mother and father of all evil”
In 2018 Mr Erdogan appointed his soninlaw, Berat Albayrak, as finance minister in the belief that he could command market forces.
Two years later Mr Albayrak resigned for health reasons after splurging $128bn in foreignexchange reserves to defend the lira. Mr Erdogan has dogmatically insisted that interest rates are “the mother and father of all evil” and has fired three centralbank governors for not reducing
them. Two years ago the president made clear at a meeting with the Turkish Industry and Business Association that as a Muslim he would continue to lower interest rates in accordance with Islamic teaching.
Now Ms Erkan has cautiously increased the benchmark interest rate from 8.5% to 15%, although the market expected 20%. And the lira has
crashed. The question is who will blink first when Islamic teaching comes into conflict with economic orthodoxy.
Sayfa 13Kitabı okudu
Poor countries lack the resources to invest to cut emissions or adapt to climate change themselves. Yet relative to the size of their economies, they face the biggest costs.
Sayfa 10Kitabı okudu
African governments rightly resent being told to cut emissions rather than help people in desperate need—especially given that Westerners continue to belch carbon.
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The need to spend money decarbonising big developing economies that already offer citizens reasonable services threatens aid budgets which help pay for things like vaccines and schooling in the poorest parts of Africa.
Sayfa 10Kitabı okudu
Researchers at the IMF have found that in 72 developing countries since 1990, a 1% rise in annual GDP was on average associated with a 0.7% rise in emissions.
Sayfa 10Kitabı okudu
Growth is the best way to lift people out of poverty and improve average living standards. But in the developing world, more growth still leads to more emissions.
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The vast majority of displaced people will not cross international borders but move within their own country
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Because people are understandably troubled by the idea of climate change forcing poor farmers to leave behind their ancestral lands, an important goal of adaptation spending is to help them stay
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