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UNU-WIDER Article: The Triple Crisis and the Global Aid Architecture

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A teenager wears torn rubber boots in a muddy local market in Bac Ha, Viet Nam. As of 2005 figures, half the world population—more than 3 billion people–is estimated to live on less than USD 2.50 a day. Bac Ha, Viet Nam. UN Photo/Kibae Park.

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The Triple Crisis and the Global Aid Architecture

The global economy is passing through a period of profound change. The immediate concern is with the financial crisis, originating in the North. The South is affected via reduced demand and lower prices for their exports, reduced private financial flows and falling remittances. This is the first crisis. Simultaneously, climate change remains unchecked, with the growth in greenhouse gas emissions exceeding previous estimates. This is the second crisis. Finally, malnutrition and hunger are on the rise, propelled by the recent inflation in global food prices. This constitutes the third crisis. These three crises interact to undermine the prosperity of present and future generations. Each has implications for international aid and underline the need for concerted action.
Publisher:
African Development Review
Volume:
23/4
Title:
The Triple Crisis and the Global Aid Architecture
Authors:
Journal article by Tony Addison, Channing Arndt and Finn Tarp
Publication date:
December 2011
Copyright holder:
© UNU-WIDER, African Development Review, African Development Bank
Copyright year:
2011
Project:
ReCom – Research and Communication on Foreign Aid

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