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October 2016

World in Focus (August-September 2016)


 NATIONAL Aug 16: Former ambassador Mohammad Masood Khan, a PML-N candidate, was elected as the president of AJK. Profile of Masood Khan 1. Masood Khan was born in Rawalakot, Poonch. 2. Before joining the Foreign Service of Pakistan in 1980, he was a Lecturer in English. 3. He was a TV presenter and newscaster with Radio Pakistan. 4. He was …

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The Real Nuclear Threat

By Lawrence M. Krauss Donald Trump’s candidacy has been a source of anxiety for many reasons, but one stands out: the ability of the President to launch nuclear weapons. When it comes to starting a nuclear war, the President has more freedom than he or she does in, say, ordering the use of torture. In fact, the President has unilateral …

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The Euro And Its Threat to the Future of Europe (Book Review)

The Euro And Its Threat to the Future of Europe

by Joseph Stiglitz There have been around 70 currency unions which have broken up since the end of the Second World War. More has been written about euro than all the other currency unions put together primarily is because it is an unnatural creation. It was a step toward political union rather than a natural consequence of a political union …

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How well do you know about United Nations General Assembly

United Nations General Assembly, UNGA session

1. ______ countries take part in UNGA session. (a) 299        (b) 71 (c) 25        (d) 193 2. ______ is the newest member of the General Assembly. (a) South Sudan    (b) Serbia (c) Czechoslovakia (d) Puerto Rico 3. The theme of this year’s General Debate at the UNGA is ______. (a) The World Refugee Crisis: How Can We End …

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Oil and the Global Economy, Are Persistently Lower Oil Prices Good?

Oil and the Global Economy

Iván Martén and Philip Whittaker In the realm of global economy, the study of oil prices and its link with economic growth has always been an interesting subject. Both have been like distant cousins who disliked each other as they, traditionally, have been inversely related to each other; a fall in one meant the rise in the other. The received …

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War and Economic History

War and Economic History

Joshua Goldstein Wars have influenced the economic history profoundly across time and space. Winners of wars have shaped economic institutions and trade patterns. They have influenced technological developments as well. Above all, recurring war has drained wealth, disrupted markets, and depressed economic growth. Economic Effects of War Wars are expensive (in money and other resources), destructive (of capital and human …

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The Calculus of Conflict in MENA, 12 Key Takeaways from the IMF Report


Almost daily, global media report intense violence, large-scale human suffering, and destruction in Iraq, Libya, Somalia, Syria, and Yemen. These conflicts in the Middle East and North Africa (MENA) have fundamentally changed the region’s physical, economic, and social landscape, which, at the onset of the Arab Spring just over five years ago, looked much more hopeful. Yet, as conflicts intensify …

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Economic Effects of War and Peace in the Middle East and North Africa


Economic Consequences of the Wars Restoring Libya’s infrastructure will cost an estimated $200 billion over the next ten years. The damage to the capital stock in Syria as of mid-2014 is estimated between $70-80 billion. Syria’s neighbouring countries (Turkey, Lebanon, Jordan, Iraq and Egypt) have borne the brunt of the economic impact of the war. The cost to the five …

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Economic Impact of Brexit, What the future holds for world economy


“Financial market volatility following the referendum in the United Kingdom on EU membership has been short-lived. However, uncertainty about the global outlook has increased, while incoming data for the second quarter point to subdued global activity and trade.” (— Economic Bulletin of the European Central Bank) The campaign for the referendum on the question of UK’s leaving or remaining within …

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Economic Importance of South China Sea, A 5 Trillion Dollar Question


The South China Sea has been a source of tensions between several East Asian countries for decades. The fears are growing that the area will become a flashpoint, with potentially serious global consequences since the rivalry between China and the United States, which apparently backs its ‘ally’ the Philippines, is on the rise. The ruling from the International Tribunal for …

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