Thank you, Kiran, for your thoughtful response. We are in favor of infrastructure that is "appropriate scale" for democratically determined purposes, wherever and however that is possible. We see that - at multiple levels - the quest to scale-up PPPs and bundle them into investment portfolios lacks key norms other than those protecting investors. At the G20, there are repeated failures to introduce normative thinking. This failure is more dangerous than the scale or the financing modality in my view. Regards, Nancy
The COVID-19 pandemic has caused hunger to spike, highlighting the need for radical reforms of the global food system to ensure its long-term resilience. But many fear that the United Nations Food Systems Summit on September 23 will entrench the current inequitable status quo instead of delivering real change.
Quantitative easing risks generating its own boom-and-bust cycles, and can thus be seen as an example of state-created financial instability. Governments must now abandon the fiction that central banks create money independently from government, and must themselves spend the money created at their behest.
explains why a decade of quantitative easing by central banks has merely fueled financial instability.