BANK FOR INTERNATIONAL SETTLEMENTS BIS REVIEW NO. 26 2008: U.S. ECONOMY & BANKING

March 7, 2008 at 7:17 pm | Posted in Economics, Financial, Globalization, Research, Third World, USA, World-system | Leave a comment

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Bank for International Settlements

BIS Review

BIS Review No 26 available

Press, Service (Press.Service@bis.org)

Fri 3/07/08

Publications, Service (Publications@bis.org)

Please find BIS Review No 26 attached as an Adobe Acrobat (PDF) file.

Alternatively, you can access this BIS Review on the Bank for International Settlements’ website by clicking on http://www.bis.org/review/index.htm.

What’s included?

BIS Review No 26 (7 March 2008)

Ben S Bernanke: Reducing preventable mortgage foreclosures

Caleb M Fundanga: Develpments between the Bank of Zambia and the Lusaka Stock Exchange

Caleb M Fundanga: Trends in central bank governance

Donald L Kohn: Condition of the US banking system

Randall S Kroszner: Liquidity-risk management in the business of banking

Frederic S Mishkin: Outlook and risks for the US economy

________________________________

please e-mail press.service@bis.org.

Bank for International Settlements

BIS Review

BIS Review No 26 available

Press, Service (Press.Service@bis.org)

Publications, Service (Publications@bis.org)

Fri 3/07/08

FEDERAL REESERVE BOARD

March 7, 2008 at 3:14 pm | Posted in Economics, Financial, Globalization, Research | Leave a comment

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Federal Reserve announces two initiatives to

address heightened liquidity pressures in term

funding markets

Federal Reserve Board Notification

frboard-webannouncements@federalreserve.gov

Fri 3/07/08

Federal Reserve announces two initiatives to address heightened liquidity pressures in term funding markets

Released by the Board of Governors of the Federal Reserve System

Schedule of upcoming postings to the Board’s website
List of items posted to the Board’s website over the past two weeks

e-mail support@govdelivery.com for assistance.

Visit us on the web at www.federalreserve.gov.

20th Street and Constitution Avenue NW · Washington DC 20551 · Phone: 202-452-3000

Federal Reserve announces two initiatives to address heightened liquidity pressures in term funding markets

Federal Reserve Board Notification

frboard-webannouncements@federalreserve.gov

Fri 3/07/08

CAMBRIDGE FORECAST GROUP: MORE BLOGS

March 7, 2008 at 1:00 pm | Posted in Economics, Financial, Globalization, Israel, Middle East, Palestine, Third World, World-system, Zionism | Leave a comment

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CAMBRIDGE FORECAST GROUP

Analyzing globalization, the Middle East & the

world-system

Blogs

http://www.cambridgeforecast.org/blogs.html

© 1997-2008 Cambridge Forecast Group

The West & the Third World

Muslims & Jews in the

World-System

Economic & Corporate Data

CAMBRIDGE FORECAST GROUP: GLOBAL TRENDS

March 7, 2008 at 12:29 pm | Posted in Economics, Financial, Globalization, History, Middle East, Palestine, Research, World-system | Leave a comment

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CAMBRIDGE FORECAST GROUP

Analyzing globalization, the

Middle East & the world-system

Back to TABLE OF CONTENTS:

GLOBAL TRENDS

00. THE CFG HOMEPAGE

01. EXPLAINING THE CFG HOMEPAGE

02. EXPLAINING THE CFG HOMEPAGE II: THE TWO WORLD SYSTEMS

03. CFG ESSAY: EXPLAINING GLOBALIZATION & THE PRESENT

04. CFG ESSAY: EXPLAINING GLOBALIZATION & TOMORROW

05. CFG ESSAY: EXPLAINING GLOBALIZATION & TOMORROW II

06. YEMEN TIMES: ISRAEL’S HIDDEN AGENDA TO DERAIL GLOBALIZATION

07. GLOBALIZATION IN HISTORICAL PERSPECTIVE: BOOK

08. GLOBALIZATION IN HISTORICAL PERSPECTIVE II: BOOK

09. PROFESSOR JEFFREY WILLIAMSON PAPERS

10. CFG: FEITH LETTER

11. CFG: LEADERSHIP BOOK FUSOSHA JAPAN

12. CFG: ATLAS OF GLOBALIZATION BOOK JAPAN

13. CFG: JAPAN PROBLEMS BOOK

14. CFG: TERRORISM BOOK JAPAN

15. CFG: BOOK PROPOSAL

16. CFG: WHEN THE YEN DISAPPEARS BOOK

17. CFG: DEVELOPMENT ECONOMICS

18. CFG: ENGLISH-LANGUAGE NEWSLETTER ORIGINAL 1979

19. CFG: FEINER ANALYSIS

20. CFG: FEINER ANALYSIS II

21. CFG: JAPAN NEWSLETTER ORIGINAL 1982

22. CFG: BOOK REVIEW HAMANO

23. CFG: NEW AMERICAN GLOBALISM BOOK

24. CFG: GEORGE BUSH BOOK JAPAN

25. CFG: THE DECADE TO COME BOOK

26. CFG: STRUCTURE TWENTIETH CENTURY BOOK JAPAN

27. CFG: JEWS & BLACKS IN THE WORLD-ECONOMY

28. CFG: JUDEOCENTRISM

29. CFG: JUDEOCENTRISM PART II

30. CFG: THIRD WORLD PHOBIA AS PREDICTIVE

31. CFG: THE REAGAN REVOLUTION

32. CFG: SUSTAINABLE ECONOMIC GROWTH

33. CFG: FUTUROLOGY

34. CFG: WORLD ECONOMY

35. CFG: THE YEN JAPAN BOOK

36. CFG: THE DEFAULT JAPAN BOOK

37. CFG: NEVER CLIMBING SOCIETY JAPAN BOOK

38. CFG ESSAY: HUMAN CAPITAL

39. CFG NEWSLETTERS: CAMBRIDGE FORECAST REPORTS INITIAL ISSUES

40. RICHARD FISHER DALLAS FED: GLOBALIZATION & MONETARY POLICY

41. RUSSIA BRANDS: MARKETING

42. SERGEY KAPITZA: WORLD POPULATION TRENDS

43. WIBC: PARTICIPANTS BAHRAIN CONFERENCE

44. THE 2010 MELTDOWN: BOOK

45. BIS REVIEW NO.77

46. BIS REVIEW NOS.78&79

47. JOURNAL OF WORLD-SYSTEMS RESEARCH

48. CLEAN DEVELOPMENT MECHANISM

49. WIBC: COMPETITIVENESS REPORT

50. WIBC: PRESS RELEASE DECEMBER 11 2005

51. WIBC: UPDATE DECEMBER 12 2005

52. KIPCO KUWAIT & SUMNER REDSTONE OF VIACOM

53. IIMA TOKYO: INSTITUTE FOR INTERNATIONAL MONETARY AFFAIRS

54. JOURNAL OF WORLD-SYSTEMS RESEARCH: GLOBALIZATION

55. BIS REVIEW NOS.80&81

56. BIS REVIEW NOS.82&83

57. BIS REVIEW NOS.84&86

58. BERNANKE SAVINGS GLUT SPEECH

59. DISARTICULATED THIRD WORLD ECONOMIES: CIRCULAR FLOW

60. CIRCULAR FLOW II: PROFESSOR BRADFORD DELONG

61. JERUSALEM SUMMITS: ZIONOMICS & COUNTERGLOBALISM

62. MUSLIMS & JEWS IN THE WORLD-SYSTEM

63. NEOCONSERVATISM AS COUNTERGLOBALIZATION: MUSLIMS & JEWS II

64. CASPIAN OIL CONFERENCE

65. GOLD NEWS

66. INDIA: DEUTSCHE BANK RESEARCH

67. INDIA IRAN ENERGY

68. ISRAEL UNITS & SQUADS: SYMBOLIC ANTIGLOBALIZATION VIA COERCION

69. RUSSIA & OPEC COORDINATION

70. RUSSIA FORECASTING

71. ISLAMIC-FINANCE.COM: LONDON

72. QATAR PETROLEUM CONFERENCES

73. SHANGHAI COOPERATION ORGANIZATION

74. INTERNATIONAL ENERGY FORUM

75. INTERNATIONAL ENERGY FORUM: II

76. CHAD-CAMEROON OIL PIPELINE: EXXON-MOBIL & WORLD BANK INVOLVEMENT

77. LAWRENCE SUMMERS HARVARD: DEVELOPING WORLD

78. GLOBALIZATION & JULES VERNE

79. INTERNATIONAL ISLAMIC FINANCE FORUM

80. FERNAND BRAUDEL

81. FERNAND BRAUDEL PAPERS

82. IMEMO WORLD ECONOMY: RUSSIA

83. CASPIAN ANNOUNCEMENT

84. G8 SUMMIT JULY 2005 GLENEAGLES SCOTLAND

85. BIS REVIEW NOS.1 & 2: 2006

86. BIS REVIEW NOS.3 & 4 2006: ISLAMIC FINANCE

87. BIS REVIEW NOS.5 & 6: 2006

88. BIS REVIEW NOS.88 & 87: 2005

89. LEVERHULME RESEARCH CENTRE: UK

90. JANE’S INTELLIGENCE DIGEST

91. ISLAMIC FINANCE & THE EMERGING INTERNATIONAL SYSTEM

92. SOUTH BULLETIN: WTO

93. MALARIA

94. GLOBAL POVERTY RESEARCH GROUP

95. ISLAMOPHOBIA PROMOTION: KNESSET KCAC

96. ISLAMOPHOBIA PROMOTION: JERUSALEM INSTITUTE

97. ISLAMIC FINANCE FORUM: DUBAI MARCH 2006

98. BIS REVIEW NOS.8 & 7: ISLAMIC FINANCE

99. IAGS: ENERGY SECURITY MOSSAD

100. CGES OIL & GAS: LONDON

101. CGES OIL & GAS II: LONDON

102. WORLD GAS INTELLIGENCE

103. SOUTH BULLETIN NO.118: GENEVA

104. IISD: WATER

105. ISLAMIC FINANCE: 21ST. CENTURY GLOBALIZATION

106. US-ISLAMIC WORLD FORUM: DOHA QATAR

107. BIS REVIEW NOS.10 & 11

108. CENTRE FOR POLICY RESEARCH: INDIA

109. ICRIER: INDIA

110. DOHA DEBATES QATAR: HAMAS

111. MEFTEC PRESS RELEASE

112. SOUTH BULLETIN NO.119: SOUTH CENTRE GENEVA

113. INTELLIGENCE BUREAU INDIA: INDIA PAKISTAN ISRAEL LINKS

114. BIS REVIEW NOS.12 & 13: ISLAMIC FINANCE TAKAFUL

115. BIS REVIEW NOS.14 & 9

116. MEES CONFERENCE: OIL & GAS

117. OILGASIQ CONFERENCE: OIL & GAS

118. ALEXANDER OIL & GAS

119. CHINA: ALEXANDER OIL & GAS

120. INVESTCORP: BAHRAIN

121. SIWI: WATER

122. WATER SUPPLY FORUM

123. FINANCIAL STABILITY FORUM

124. CASPIAN OIL & GAS: KAZAKHSTAN

125. COUNTER-GLOBALIZATION: JERUSALEM SUMMITS

126. BIS REVIEW NOS.15 & 16

127. BIS REVIEW NOS.17 & 18

128. BIS REVIEW NOS.19 & 20

129. BIS REVIEW NOS.22 & 23

130. BIS REVIEW NOS.24 & 25

131. BIS REVIEW NOS.26 & 27

132. BIS REVIEW NOS.28 & 29

133. BIS REVIEW NOS.30 & 31

134. BIS REVIEW NOS.32 & 33

135. BIS REVIEW NOS.34 & 35

136. BIS REVIEW NOS.36 & 37: FORECASTING

137. BIS REVIEW NOS.39 & 40

138. BIS REVIEW NOS.41 & 42: INDIA

139. BIS REVIEW NOS.43 & 44: ISLAMIC BANK

140. BIS REVIEW NOS.45 & 46: GLOBAL IMBALANCES

141. BIS REVIEW NOS.59 & 60: GLOBALIZATION ASPECTS

142. BIS REVIEW NOS.68 & 69: GLOBAL ECONOMY

143. DOHA DEBATES: QATAR

144. DOHA DEBATES ELBARADEI: QATAR

145. CGES: GLOBAL ENERGY FUTURE & SHEIK YAMANI

146. JEALOUSY OF TRADE: ISTVAN HONT BOOK

147. UNDP CONFERENCE

148. ALLIANCE FOR GLOBAL SUSTAINABILITY

149. WORLD HALAL FORUM: MALAYSIA MAY 2006

150. LAWRENCE LIVERMORE SCIENCE & TECHNOLGY REVIEW: AMAZON CARBON

151. SOUTH BULLETIN NO.122

152. SOUTH BULLETIN NO.121: ISLAM & THE WEST

153. SOUTH BULLETIN NO.123: DOHA ROUND

154. SOUTH BULLETIN NO.124: NEO-LIBERALISM & GLOBALIZATION

155. BASEL COMMITTEE BIS: GLOBAL BANKING REGULATIONS

156. RAS: RUSSIA GLOBAL

157. HARVARD MAGAZINE: FUELING OUR FUTURE

158. EARTH ENERGY BUDGET

159. SOUTH BULLETIN NO.120: NORTH-SOUTH

160. SOUTH BULLETIN NO.125: GLOBAL

161. DEUTSCHE BANK RESEARCH: NEW ECONOMY

162. BIS REVIEW NOS.47 & 46: GLOBALIZATION

163. BIS REVIEW NOS.49 & 48: GLOBALIZATION & INDIA

164. BIS REVIEW NOS.51 & 50

165. BIS REVIEW NOS.53 & 52: GLOBALIZATION & ISLAMIC FINANCE

166. BIS GLOBALIZATION & ISLAMIC FINANCE

167. BIS REVIEW NOS.55 & 54: FISCHER VERSUS AZIZ

168. BIS REVIEW NOS.57 & 56: GLOBALIZATION AND MONETARY POLICY

169. BIS REVIEW NOS.58: GLOBALIZATION TIMELINE FOR BIS

170. BIS REVIEW NOS.60 & 59: GLOBALIZATION IN FINANCE

171. BIS REVIEW NOS.62 & 61: GLOBALIZATION & ISLAMIC FINANCE

172. BIS REVIEW NOS.83-81 & 70: GLOBALIZATION & FINANCIAL REGULATION

173. BIS CONFERENCES: FINANCIAL GLOBALIZATION

174. SOUTH BULLETIN NO.126: SOUTH-SOUTH TRADE & GLOBALIZATION

175. SOUTH BULLETIN NO.127: EAST ASIA & GLOBALIZATION

176. GLOBAL WATER FORUM: DAY 2 MEXICO

177. SMALL HYDRO POWER

178. CHINA COMMODITY: DEUTSCHE BANK RESEARCH

179. IICS TEHERAN: KOREA & CASPIAN OIL

180. MERIA JOURNAL: IRAN CONFLICT & GLOBALIZATION

181. WUPPERTAL INSTITUTE: GLOBAL CLIMATE & ENERGY

182. SOUTH CENTRE BULLETIN: DOHA

183. THE PROBLEM OF HISTORICAL REASONING: MEXICO & ZAPATA

184. THE PROBLEM OF HISTORICAL REASONING II: MEXICO & TAMPICO OIL

185. WALTER LIPPMANN & PROBLEMS OF HISTORICAL REASONING

186. OCEANS: HARVARD MAGAZINE

187. SCO SHANGHAI: CHINA-ISLAMIC AXIS?

188. TEMPTATIONS OF THE WEST: BOOK

189. ANGLO-AMERICAN DEEP HISTORY AS BACKDROP TO NEOLIBERAL GLOBALISM

190. GLOBALIZATION: METAPHYICAL ASPECTS

191. GLOBALIZATION: METAPHYICAL ASPECTS II: HUSSERL

192. GLOBALIZATION: METAPHYICAL ASPECTS III: DOSTOYEVSKY

193. GLOBALIZATION: DYLAN’S ZIONISM

194. GLOBALIZATION VERSUS ZIONIST ISLAMOPHOBIA: PAK TRIBUNE

195. MUSLIMS VERSUS JEWS IN GLOBALIZATION: PAK TRIBUNE II

196. ZIONIST GLOBAL ISLAMOPHOBIA

197. POST-ZIONISM & GLOBAL HISTORY

198. ARAB CARTOONS: ZIONIST GLOBALIZATION

199. ARAB CARTOONS I: ZIONIST GLOBALIZATION

200. ISRAEL’S GLOBAL DISRUPTION STRATEGY

201. ISRAEL’S GLOBAL DISRUPTION STRATEGY II: HOW ZIONIST PROFESSORS LIKE EFRAIM KARSH PROMOTE ISLAMO-PHOBIA

202. BERNANKE SPEECH: GLOBALIZATION

203. SOUTH BULLETIN NO.129: SOUTH-SOUTH COOPERATION

204. SOUTH BULLETIN NO.130: NORTH-SOUTH

205. CGES GLOBAL OIL SYMPOSIUM

206. STRATEGIC ELLIPSE: GLOBAL HYDROCARBONS

207. GLOBALIZATION & ISLAMIC FINANCE: BIS REVIEW NOS.77-63

208. GLOBALIZATION & ISLAMIC FINANCE II: BIS REVIEW NOS.86-84

209. GLOBALIZATION & BERNANKE: BIS REVIEW NOS.80-78

210. GLOBALIZATION IMF-WORLD BANK: DEVELOPMENT COMMITTEE

211. GLOBALIZATION & ISLAMIC FINANCE

212. GLOBALIZATION & SECRET SERVICES: SAVAK

213. 1919: GLOBAL PERPECTIVE VERSUS PAUL JOHNSON

214. GLOBAL VERSUS WORLD: TERMINOLOGY QUEST

215. GLOBAL CLIMATE CHANGE: DANIEL SCHRAG HARVARD

216. SOUTH BULLTIN NO.131: GLOBALIZATION & SOUTH

217. GLOBAL SOUTH: SOUTH BULLETIN NO.132

218. SOUTH BULLTIN NO.134: GLOBALIZATION & SOUTH MANMOHAN SINGH

219. ZELIKOW ISRAEL RICE:GLOBAL DISTORTIONS

220. RESTRATIFICATION ANXIETY ON A GLOBAL SCALE

221. G-20

222. BIS REVIEW NOS.91-87: GLOBALIZATION ASPECTS

223. BIS REVIEW NOS.97-92: GLOBALIZATION ASPECTS: BERNANKE ANALYSES

224. BIS REVIEW NOS.101-98: GLOBALIZATION: MALAYSIA ISLAMIC FINANCE

225. BIS REVIEW NOS.104-102: GLOBALIZATION: MALAYSIA ISLAMIC FINANCE II

226. BIS REVIEW NOS.107-105: GLOBALIZATION: INDIA

227. BIS REVIEW NOS.109-108: GLOBALIZATION: WORLD SAVINGS DAY

228. BIS REVIEW NOS.111-110: GLOBALIZATION: MONETARY

229. BIS REVIEW NOS.113-112: GLOBALIZATION: INDIA

230. BIS: GLOBALIZATION: OTC DERIVATES

231. GLOBALIZATION OF ANTAGONISMS

232. CGES OIL SYMPOSIUM

233. ASIAN INVESTOR

234. ECONOMIC DATA & TRENDS: ECONBROWSER SITE

© 1997-2008 Cambridge Forecast Group

The West & the Third World

Muslims & Jews in the World-System

Economic & Corporate Data

GLOBAL SOUTH: SOUTH CENTRE GENEVA

March 7, 2008 at 3:32 am | Posted in Economics, Financial, Globalization, Research, Third World, World-system | Leave a comment

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South Centre e-Update

6 March

(New Publications Events

Vacancies and more)

6 March 2008

South Centre is an intergovernmental think tank of developing countries based in Geneva. It assists countries of the South in developing their points of view on major policy issues through research and policy support, negotiations assistance, trainings and meetings, and through networking and facilitating South-South Cooperation.

More information from www.SouthCentre.org (in English, French and Spanish) and through these fortnightly e-Updates.

– Media and Communication Unit

South Centre, Geneva

South Bulletin: Reflections and

Foresights, Issue 10, 1 March 2008

“Good Governance, Colonial Guilt and Contemporary Challenge”

Analysis and commentaries appearing in this Issue include those on the Economic Integration in the Gulf, Reintroducing Quantitative Benchmarks in GATS Negotiations, Reshaping the International Development Cooperation Architecture, Challenges posed by North-South Relations on Small and Vulnerable Economies, and on International Call for Action against EPAs. The Editorial and Op-Ed are on “Good Governance, Colonial Guilt and Contemporary Challenge” and on “Countering Double Standards of Developed Countries on IP Issues” respectively.

Read the Issue online

Read the Editorial in French and Spanish

We welcome your articles and commentaries on ongoing and emerging issues for publication in future issues of the Bulletin. Kindly email them to:

Vikas Nath, Associate Editor at nath@southcentre.org

South Centre: Announcements

Three new members join the South Centre Board

South Centre welcomes three new members who have joined the governing Board of the South Centre. They include: Yousef Al Zalzalah (former Minister of Commerce and Industry, Kuwait), Li Zhaoxing (former Minister of Foreign Affairs, China) and Leticia Ramos SHAHANI (former Senator of the Philippines Senate, Philippines).

Click here for more details

South Centre is hiring!

South Centre has posted some new jobs and internship notices at its website, along with information on closing dates and how to apply details.

Vacancy Announcement for the Post of Executive Director

Vacancy Announcement – Programme Officer for Trade in Services (Read notice in French and Spanish)

Internship Announcement for Innovation and Access to Knowledge Programme

South Centre: Upcoming Event

Sixth South Innovation Perspectives Series: Some Reflections on Formulating Chinese National Intellectual Property Strategy

Room XXV, Palais des Nations, Geneva, 12 March

by Dr. ZHANG Qin, Deputy Commissioner, State Intellectual Property Office, China & Standing Deputy Director General of National IP Strategy Formulation Leading Group Office

This is an open-event and everyone is free to attend.

New Publications

English

South Centre comments on the Revised Draft Modalities for Agriculture (TN/AG/W/4 rev. 1 of 8th February 2008)

Comments to the Chairman’s Revised Draft Modalities for WTO NAMA Negotiations

Promoting the Development of the South in the Trade and Climate Regimes

EPA Negotiations in the Caribbean Region: Some Issues of Concern

French

Négociations sur les APE dans la région du Pacifique : quelques sujets de préoccupation

Bonne gouvernance, culpabilité coloniale et défi contemporain

Spanish

Reforma del sector del azúcar de la UE: Repercusiones para los países ACP y las negociaciones de acuerdos de asociación económica

Buena gobernanza, culpabilidad colonial y desafíos actuales

South Centre Blog

Twelfth Session of the WIPO Intergovernmental Committee on Genetic Resources, Traditional Knowledge and Traditional Cultural Expressions (IGC).

More

South Centre participates in deliberations of the African Group for upcoming UNCTAD XII.

More

South Centre participates in retreat of African Negotiators.

More

Working Lunch on WIPO Development Agenda.

More

Lecture on “Developing countries in the multilateral trading system and the concept of Special and Differential Treatment”

More

Third South Intellectual Platform (SIP) Retreat Concludes in Geneva.

More

Watch the South Centre Digital TV

Interview with the new Chairman of G-77 Chapter in Geneva.

Watch Now

To view other videos from this Event, go to http://southcentre.blip.tv

About South Centre

South Centre is an Intergovernmental organization and Thinktank of developing countries based in Geneva. The Centre assists in developing points of view of the South on major policy issues.

More

South Centre, Geneva, Switzerland

About South Centre

South Centre is an Intergovernmental organization and Thinktank of developing countries based in Geneva. The Centre assists in developing points of view of the South on major policy issues.

GLOBAL GROWTH

March 7, 2008 at 2:03 am | Posted in Economics, Financial, Globalization, History, Research, Third World, World-system | Leave a comment

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Year

2005

2006

2007f

2008f

2009f

World

3.4

3.9

3.6

3.3

3.6

USA

3.1

2.9

2.2

1.9

2.3

Developing countries

6.8

7.5

7.4

7.1

7.0

Note that the global growth rates are higher if stated in terms of purchasing power parity.

1.

https://www.cia.gov/library/publications/the-world-factbook/geos/xx.html

2.

http://web.worldbank.org/external/default/main?contentMDK=21539434&menuPK=612510&theSitePK=612501&pagePK=2904583&piPK=2904598

Global Economic Prospects 2008: Global growth

Gross world product

Gross world product (GWP) is the total gross national product of all the countries in the world. This also equals the total gross domestic product. The per capita GWP in 2000 was approximately $7,200 US dollars (USD).

[1] The Intergovernmental Panel on Climate Change (IPCC), in their Third Assessment Report (TAR), predicts a maximum per-capita gross world product in 2100 of approximately $140,000 (in year 2000 dollars). The IPCC reports a survey of “economic literature” as providing a maximum value of approximately $110,000 (2000 USD).

Sometimes term Gross Planetary Product (GPP) is also used for same concept

Historical Origins

Although a global economy is generally associated with the late 20th century and early 21st century, it may be argued that a global system of exchange existed before that.

Some possible dates for its origins are:

– The Phoenician trade system along the Mediterranean Sea (12th to 8th century BC),

– The Roman to Han trade system along the Silk Road (1st to 2nd century AD),

– The Arabian global trade system across the Old World (7th to 13th century AD),

– The Global maritime navigations across the Earth (15th to 18th century AD),

– The New Imperialism (19th century) and Neo-Colonialism (20th Century)


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