Rich pickings in this week’s Economist with a special report on the future of finance, and a nice briefing on ‘global economic imbalances’ that ties together the East Asian crisis of the late 90s with the current mess. The story runs like this, (allowing for my non-Economist spin) The East Asian financial crisis of the late 90s was caused by

Read this paragraph: ‘Despite the recent creation of a United Nations High Level Task Force, there is still little coordination or collaboration among UN organisations, the World Bank/International Monetary Fund (IMF) and other donors. There is no functioning global mechanism to ensure coordination and policy coherence of the various actors, thus adding complexity to the response effort and reducing efficiency,

The backsliding began almost as soon as the ink was dry on the promises of increased aid made at the 2005 G8 summit in Gleneagles. Have a look at the graphic, based on the latest figures.     It comes from a recent analysis of the latest aid numbers by ace crunchers, Development Initiatives, by way of Owen Barder’s blog.

According to a new paper from the Global Financial Integrity watchdog. The paper defines illicit financial flows as ‘the proceeds from both illicit activities such as corruption (bribery and embezzlement of national wealth), criminal activity, and the proceeds of licit business that become illicit when transported across borders in contravention of applicable laws and regulatory frameworks (most commonly in order to evade