Bridges Weekly Trade News DigestVolume 12Number 34 • 16th October 2008

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WORLD ECONOMIC OUTLOOK: FINANCIAL STRESS, DOWNTURNS, AND RECOVERIES. International Monetary Fund (IMF), October 2008. The World Economic Outlook (WEO) presents the IMF staff’s analysis and projections of economic developments at the global level, in major country groups (classified by region, stage of development, etc.), and in many individual countries. It focuses on major economic policy issues as well as on the analysis of economic developments and prospects. It is usually prepared twice a year, as documentation for meetings of the International Monetary and Financial Committee, and forms the main instrument of the IMF’s global surveillance activities. For further information, please refer to http://www.imf.org/external/pubs/ft/weo/2008/02/.

ENERGY SECURITY. By Sascha Müller-Kraenner, September 2008. Humanity stands at a threshold: will its shared energy future be peaceful, or will it be threatened by resource wars? How can rapidly depleting resources be managed to the advantage of all, and therefore conflicts averted? How can we avoid irreparable damage to the last areas of untouched natural beauty, all in the name of accessing valuable resources? And how do we arrive at an international energy policy which not only provides safe, economical energy without conflict, but also addresses the all-important issue of climate change: What is the best way to achieve greater energy security? Energy Security addresses all of these questions, arguing for an urgent overhaul of international law and institutions to control relations with countries such as Russia, which own the world’s remaining fuel supplies. The book presents alternatives to fossil fuels as two diametrically opposing strategies: the increased use of atomic energy; and a comprehensive climate protection policy with a focus on energy efficiency and renewable energy. In times of international terrorism, there are heightened concerns about nuclear proliferation, and Energy Security argues that the future must belong to renewable energy. For further information, please refer to http://www.earthscan.co.uk/?TabId=20572&v=451527.

GLOBAL FINANCIAL STABILITY REPORT: FINANCIAL STRESS AND DELEVERAGING MACRO-FINANCIAL IMPLICATIONS AND POLICY. International Monetary Fund (IMF), October 2008. The Global Financial Stability Report provides semi-annual assessments of global financial markets and addresses emerging market financing in a global context. For further information, and to access this report, please refer to http://www.imf.org/external/pubs/ft/gfsr/2008/02/index.htm.

THE SUNKEN BILLIONS: THE ECONOMIC JUSTIFICATION FOR FISHERIES REFORM. Food and Agriculture Organisation (FAO) and the World Bank, 8 October 2008. Economic losses in marine fisheries resulting from poor management, inefficiencies, and overfishing add up to a staggering US$50 billion per year, according to this new World Bank-FAO report. Taken over the last three decades, these losses total over $US2 trillion, a figure roughly equivalent to the GDP of Italy. But ‘The Sunken Billions’, a joint study by the two agencies, also argues that well-managed marine fisheries could turn most of these losses into sustainable economic benefits for millions of fishers and coastal communities. For further information and to access the report, please refer to http://www.fao.org/newsroom/en/news/2008/1000931/index.html.

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