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Two mothers killed each hour in Gaza conflict: UN Women

Details: Written by northsouth; Category: News-Reports-Studies; Published: 20 January 2024; Hits: 504

THE UNITED NATIONS - Women and children account for roughly 70 per cent of people killed in the war in Gaza, with two mothers killed every hour since hostilities erupted more than 100 days ago, according to a UN Women report published on Friday.

The report examines the gendered impact of the conflict, which has left more than 23,000 Palestinians dead, according to Gazan health authorities, about 16,000 of whom are women or children.

Failure and trauma

“We have seen evidenced once more that women and children are the first victims of conflict and that our duty to seek peace is a duty to them. We are failing them,” UN Women Executive Director Sima Bahous said in a statement issued alongside the report.

“That failure, and the generational trauma inflicted on the Palestinian people over these 100 days and counting, will haunt all of us for generations to come,” she warned.

UN Women also reiterated deep concern over the accounts of unconscionable sexual violence and other gender-based violence during the Hamas-led attacks against Israel on 7 October that sparked the conflict.

The agency called for accountability, justice and support for all those affected and for the immediate and unconditional release of all hostages.

‘Impossible decisions’

UN Women said the Gaza conflict “is fundamentally a protection crisis for women” at a time when nowhere in the enclave is safe.

Of the 1.9 million people now displaced, close to a million are women and girls, and the “impossible decisions” they have to make regarding whether to evacuate – when and how as well as where to go – “are entrenched with gender differentiated fears and experiences", given risks of attacks and harassment while on the move.

UN Women further estimated that at least 3,000 women may have become widows and heads of households, and at least 10,000 children may now be fatherless. As a result, more women fear families will resort to desperate coping mechanisms such as early marriage.

Meanwhile, women’s rights organizations continue to operate amidst the crisis. In November, UN Women conducted a rapid survey of 12 women-led organizations and one youth-led group which found that most – 83 per cent – were at least partially operating, focused mainly on the emergency response.

However, less than one per cent of funding under the 2023 Flash Appeal for Gaza has directly gone to women’s groups.

Staying the course

The report is part of UN Women’s six-month response plan for Gaza, which includes providing emergency food assistance to over 14,000 female-headed households and supporting the distribution of items requested by women on the ground such as clothing, sanitary products and baby formula.

The agency is also partnering with women-led organizations to deliver gender responsive services for gender-based violence, establishing women-led protection and response committees in shelters and convening regular consultations with women’s organizations to discuss the challenges they face.

Global Wealth Report 2023: Rich and poor see drop in wealth

Details: Written by northsouth; Category: News-Reports-Studies; Published: 18 August 2023; Hits: 580

ZURICH, SWITZERLAND - How has global household wealth developed in 2022? What are the projections for the years ahead? Find out with the most comprehensive and up-to-date information on global household wealth.

Key findings

- Measured in current nominal USD, total net private wealth fell by USD 11.3 trillion
(–2.4%) to USD 454.4 trillion at the end of 2022.

- Wealth per adult also declined by USD 3,198 (–3.6%) to reach USD 84,718 per adult at the end of the year.

- Much of this decline comes from the appreciation of the US dollar against many other currencies.

- Financial assets contributed most to wealth declines in 2022 while non-financial assets (mostly real estate) stayed resilient, despite rapidly rising interest rates.

- The loss of global wealth was heavily concentrated in wealthier regions such as North America and Europe, which together shed USD 10.9 trillion.

- Asia Pacific recorded losses of USD 2.1 trillion, while Latin America is the outlier with a total wealth increase of USD 2.4 trillion, helped by an average 6% currency appreciation against the US dollar.

- Heading the list of losses in country terms in 2022 is the United States, followed by Japan, China, Canada and Australia.

- The largest wealth increases were recorded for Russia, Mexico, India and Brazil.

- Along with the decline in aggregate wealth, overall wealth inequality also fell in 2022, with the wealth share of the global top 1% falling to 44.5%.

- The number of USD millionaires worldwide fell by 3.5 million during 2022 to 59.4 million. This figure does not, however, take into account 4.4 million “inflation millionaires” who would no longer qualify if the millionaire threshold were adjusted for inflation in 2022.

- Global median wealth, arguably a more meaningful indicator of how the typical person is faring, did in fact increase by 3% in 2022 in contrast to the 3.6% fall in wealth per adult.

- For the world as a whole, median wealth has increased five-fold this century at roughly double the pace of wealth per adult, largely due to the rapid wealth growth in China.

- Global wealth is expected to rise by 38% over the next five years, reaching USD 629 trillion by 2027.

- Growth by middle-income countries will be the primary driver of global trends.

- The authors estimate wealth per adult to reach USD 110,270 in 2027 and the number of millionaires to reach 86 million while the number of ultra-high-net-worth individuals (UHNWIs) is likely to rise to 372,000 individuals.

For the full report, visit: https://www.ubs.com/global/en/family-office-uhnw/reports/global-wealth-report-2023.html#executive

World military expenditure reaches new record

Details: Written by northsouth; Category: News-Reports-Studies; Published: 25 April 2023; Hits: 633

STOCKHOLM - Total global military expenditure increased by 3.7 per cent in real terms in 2022, to reach a new high of $2240 billion. Military expenditure in Europe saw its steepest year-on-year increase in at least 30 years. The three largest spenders in 2022—the United States, China and Russia—accounted for 56 per cent of the world total, according to new data on global military spending published today by the Stockholm International Peace Research Institute (SIPRI).

Invasion of Ukraine and tensions in East Asia drive increased spending

World military spending grew for the eighth consecutive year in 2022 to an all-time high of $2240 billion. By far the sharpest rise in spending (+13 per cent) was seen in Europe and was largely accounted for by Russian and Ukrainian spending. However, military aid to Ukraine and concerns about a heightened threat from Russia strongly influenced many other states’ spending decisions, as did tensions in East Asia.

‘The continuous rise in global military expenditure in recent years is a sign that we are living in an increasingly insecure world,’ said Dr Nan Tian, Senior Researcher with SIPRI’s Military Expenditure and Arms Production Programme. ‘States are bolstering military strength in response to a deteriorating security environment, which they do not foresee improving in the near future.’

Cold war levels of military expenditure return to Central and Western Europe

Military expenditure by states in Central and Western Europe totalled $345 billion in 2022. In real terms, spending by these states for the first time surpassed that in 1989, as the cold war was ending, and was 30 per cent higher than in 2013. Several states significantly increased their military spending following Russia’s invasion of Ukraine in February 2022, while others announced plans to raise spending levels over periods of up to a decade.

‘The invasion of Ukraine had an immediate impact on military spending decisions in Central and Western Europe. This included multi-year plans to boost spending from several governments,’ said Dr Diego Lopes da Silva, Senior Researcher with SIPRI’s Military Expenditure and Arms Production Programme. ‘As a result, we can reasonably expect military expenditure in Central and Western Europe to keep rising in the years ahead.’

Some of the sharpest increases were seen in Finland (+36 per cent), Lithuania (+27 per cent), Sweden (+12 per cent) and Poland (+11 per cent).

‘While the full-scale invasion of Ukraine in February 2022 certainly affected military spending decisions in 2022, concerns about Russian aggression have been building for much longer,’ said Lorenzo Scarazzato, Researcher with SIPRI’s Military Expenditure and Arms Production Programme. ‘Many former Eastern bloc states have more than doubled their military spending since 2014, the year when Russia annexed Crimea.’

Russia and Ukraine raise military spending as war rages on

Russian military spending grew by an estimated 9.2 per cent in 2022, to around $86.4 billion. This was equivalent to 4.1 per cent of Russia’s gross domestic product (GDP) in 2022, up from 3.7 per cent of GDP in 2021.

Figures released by Russia in late 2022 show that spending on national defence, the largest component of Russian military expenditure, was already 34 per cent higher, in nominal terms, than in budgetary plans drawn up in 2021.

‘The difference between Russia’s budgetary plans and its actual military spending in 2022 suggests the invasion of Ukraine has cost Russia far more than it anticipated,’ said Dr Lucie Béraud-Sudreau, Director of SIPRI’s Military Expenditure and Arms Production Programme.

Ukraine’s military spending reached $44.0 billion in 2022. At 640 per cent, this was the highest single-year increase in a country’s military expenditure ever recorded in SIPRI data. As a result of the increase and the war-related damage to Ukraine’s economy, the military burden (military spending as a share of GDP) shot up to 34 per cent of GDP in 2022, from 3.2 per cent in 2021.

US spending rises despite high inflation

The United States remains by far the world’s biggest military spender. US military spending reached $877 billion in 2022, which was 39 per cent of total global military spending and three times more than the amount spent by China, the world’s second largest spender. The 0.7 per cent real-terms increase in US spending in 2022 would have been even greater had it not been for the highest levels of inflation since 1981.

‘The increase in the USA’s military spending in 2022 was largely accounted for by the unprecedented level of financial military aid it provided to Ukraine,’ said Dr Nan Tian, SIPRI Senior Researcher. ‘Given the scale of US spending, even a minor increase in percentage terms has a significant impact on the level of global military expenditure.’

US financial military aid to Ukraine totalled $19.9 billion in 2022. Although this was the largest amount of military aid given by any country to a single beneficiary in any year since the cold war, it represented only 2.3 per cent of total US military spending. In 2022 the USA allocated $295 billion to military operations and maintenance, $264 billion to procurement and research and development, and $167 billion to military personnel.

China and Japan lead continued spending increase in Asia and Oceania

The combined military expenditure of countries in Asia and Oceania was $575 billion. This was 2.7 per cent more than in 2021 and 45 per cent more than in 2013, continuing an uninterrupted upward trend dating back to at least 1989.

China remained the world’s second largest military spender, allocating an estimated $292 billion in 2022. This was 4.2 per cent more than in 2021 and 63 per cent more than in 2013. China’s military expenditure has increased for 28 consecutive years.

Japan’s military spending increased by 5.9 per cent between 2021 and 2022, reaching $46.0 billion, or 1.1 per cent of GDP. This was the highest level of Japanese military spending since 1960. A new national security strategy published in 2022 sets out ambitious plans to increase Japan’s military capability over the coming decade in response to perceived growing threats from China, North Korea and Russia.

‘Japan is undergoing a profound shift in its military policy,’ said Xiao Liang, Researcher with SIPRI’s Military Expenditure and Arms Production Programme. ‘The post-war restraints Japan imposed on its military spending and military capabilities seem to be loosening.’

Other notable developments:

- The real-terms increase in world military spending in 2022 was slowed by the effects of inflation, which in many countries soared to levels not seen for decades. In nominal terms (i.e. in current prices without adjusting for inflation), the global total increased by 6.5 per cent.

- India’s military spending of $81.4 billion was the fourth highest in the world. It was 6.0 per cent more than in 2021.

- In 2022 military spending by Saudi Arabia, the fifth biggest military spender, rose by 16 per cent to reach an estimated $75.0 billion, its first increase since 2018.

- Nigeria’s military spending fell by 38 per cent to $3.1 billion, after a 56 per cent increase in spending in 2021.

- Military spending by NATO members totalled $1232 billion in 2022, which was 0.9 per cent higher than in 2021.

- The United Kingdom had the highest military spending in Central and Western Europe at $68.5 billion, of which an estimated $2.5 billion (3.6 per cent) was financial military aid to Ukraine.

- In 2022 Türkiye’s military spending fell for the third year in a row, reaching $10.6 billion—a decrease of 26 per cent from 2021.

- Ethiopia’s military spending rose by 88 per cent in 2022, to reach $1.0 billion. The increase coincided with a renewed government offensive against the Tigray People’s Liberation Front in the north of the country.

For the full publication, visit: https://www.sipri.org/sites/default/files/2023-04/2304_fs_milex_2022.pdf

China's lending to Africa rises for first time in seven years, study

Details: Written by Super User; Category: Africa; Published: 30 August 2024; Hits: 45

BEIJING - Chinese lenders approved loans worth $4.61 billion to Africa last year, marking the first annual increase since 2016, an independent study showed on Thursday.

Africa secured more than $10 billion in loans a year from China between 2012-2018, thanks to President Xi Jinping's Belt and Road Initiative (BRI), but the lending fell precipitously from the start of the COVID-19 pandemic in 2020.

Last year's figure, a more than three-fold increase from 2022, shows China is keen to curb risks associated with highly indebted economies, the study by Boston University's Global Development Policy Centre found.

"Beijing appears to be looking for a more sustainable equilibrium level of lending and experimenting with a (new) strategy," said the university centre, which runs the Chinese Loans to Africa Database project.

The new data comes as Beijing prepares to host African leaders next week for the Forum on China-Africa Cooperation, which takes place every three years.

There were 13 loan deals last year involving eight African countries and two African multilateral lenders, the study found.

Last year's biggest items include a nearly $1 billion loan from China Development Bank to Nigeria for the Kaduna-to-Kano Railway and similar size liquidity facility by the lender to Egypt's central bank.

China has vaulted to the top bilateral lender for many African nations like Ethiopia in recent years.

It has lent the continent a total of $182.28 billion between 2000-2023, the Boston University study found, with the bulk of the finances going to Africa's energy, transport and ICT sectors.

Africa featured prominently in the initial years of BRI, as China sought to recreate the ancient Silk Road and extend its geopolitical and economic influence through a global infrastructure development push.

China, however, started to turn off the cash spigot in 2019, a shift that was accelerated by the pandemic, leaving a series of incomplete projects around the region, including a modern railway meant to link Kenya with its neighbours.

The reduction in loans was caused by China's own domestic pressures and growing debt burdens among African economies. Zambia, Ghana and Ethiopia have gone into protracted debt overhauls since 2021.

More than half of the loans committed last year, or $2.59 billion, were to regional and national lenders, underscoring Beijing's new strategy, the study by Boston University found.

"Chinese lenders' focus on African financial institutions most likely represent a risk mitigation strategy that avoids exposure to African countries' debt challenges," it said.

Nearly a tenth of 2023 loans were for three solar and hydropower energy projects, the study found, illustrating a desire by China to move into funding renewable energy instead of coal-fired power plants.

Still, the discernible trends in last year's figures did not offer a clear direction of China's financial engagement with the continent, the study showed, since Chinese institutions also wrote loans to ailing economies like Nigeria and Angola.

"It remains to be seen whether China's partnerships in Africa will retain their quality," the Global Development Policy Centre said.