In today’s globalized world, the development of nanotechnology being considered as a pivotal gateway to Europe is based on the rational large-scale run and implementation of innovations in nano-based high-tech factories and companies. In previous times, The Netherlands took the all-better round pro-active position in regard to nanotechnologies by inception varied kinds of national programmes focusing on the producing nano-based materials and electronics at the nanoscale.
Today, the Netherlands is one of the nation countries of inventors and entrepreneurs working in the field of nanotechnology. Ostensibly, the growing role and transparent functioning of nanotechnology in the Netherlands leads to immeasurable cross-over scientific solutions to health, security, renewable energy, sustainable mobility, and environmental issues.
It is undeniable fact that in the 21st century, the Netherlands has opted for the strategy of “Economic Diplomacy” in order to advance its economic development and show far more openness to the international marketplace through fostering exporting of nano-based materials and electronics. In today’s industrialized world, how is the “Dutch answer” considered with regard to the development of nanotechnology?! – “The Dutch answer” is to boost the rational manufacturing and transparent exporting of nano-scale materials and services to the international marketplace.
In the Netherlands having large-scale inventiveness, pragmatism and business fortitude, there are a number of nano-related organizations, factories and in particular, newborn companies (namely, Eurekite specialized in the manufacturing of nanofibers) which are committed to facilitating the future growth of nano-scientific innovations that focus on answering the societal, environmental and economic challenges happening in the contemporary world.
In fact, the large-scale development and productive deployment of nanotechnologies are based on providing the Dutch national interests. Hence, it would be helpful to underline the major role of government, education, specialized institutions, and universities in order to interpret the causes of economic and societal development in depth. First and foremost, the prevailing role and interest of government influence the progress of major companies and factories in Holland. Because of the fact that the government (in particular, The Ministry of Foreign Affairs) supports the nano-related factories and start-up companies (for instance, Eurekite) which are dealing with the implementation of innovative projects and models through innovation credit, grants, and tax benefits. For example, the Dutch Ministry of Economic Affairs financially supports NanoNed Company. From the prism of the maintenance of national interests, government as a basis of the Economic Diplomacy” also invests in national companies in order to not only does promote and represent their innovative breakthroughs on a foreign marketplace with the representation of “industrial attachés” but also provide the sufficient development of national economy.
It is unquestionable fact that to encourage the innovative breakthroughs not only does increase the economic growth, in particular, create the opportunities to new employment areas but also strive to mitigate varied kind of problems and find out solutions to the pivotal societal issues in regard to global food security, healthy life, ageing populations, and other kinds of related issues.
For instance, the Dutch government held the “National Icons” competition in order to select the far more innovative and cutting-edge projects and models of ambiguous entrepreneurs as winners of the competition. On the other hand, there is a huge golden “triadic nexus” in the Netherlands in the field of nanotechnology, government, universities and social entrepreneurs that fertile the soil for the targeted innovation. In essence, they work closely collectively within the atmospheric research of the Dutch chemical industry and strive to foster cooperation to keep the chemical industry much more competitive and drive the national prosperity in the future.
One of the main causes of the economic effect is the Dutch Education. Education plays a pivotal role in the teaching of entrepreneurial skills, nanotech advancements, the fabrication of nanomaterials, and the development of innovative projects and models. Thus, the Dutch government sets up close relations with the universities. For instance, the University of Twente supported by MESA+ Institute for Nanotechnology is one of the biggest universities in the field of nano-based materials and innovations.
In this regard, the Dutch government ensures financial support for promising students who are able to make technologically new innovations. For instance, Bahruz Mammadov from Azerbaijan was pursuing his MSc degree at University of Twente, as a result, he turned his own Master thesis into innovative project and discovered the new-fangled inspirational materials based on the implementation of nanofibers, afterwards, he was awarded the financial support by the Dutch government and founded his own scientific and creative company called Eurekite in Enschede, the Netherlands. Eventually, the Dutch government closed the gap between education and chemical industries by supporting the scientific innovations of nano-based universities.
Another economic impact of the Nanotechnology is the creation of nano-future markets in upcoming years in order to enable virtual financial tools (shares and stocks) to be traded with the foreign investors sufficiently. The high-tech factories are capital intensive and devote approximately € 2.5 billion a year in the field of research and development, (R&D) which is nearly 50% of all private R&D in the Netherlands and 10% of the sector’s added value. Furthermore, they have environmental ambitions that the chemical factories will lessen greenhouse gas emissions up to 40% by 2030, compared to the situation in 2005. The Netherlands also keep the balance of trade with 60% chemical industry made a constructive contribution of nearly €60 billion to the balance of trade in 2012, which was larger than 60% of the total balance of trade of products and services in the Netherlands. According to the report of Statistics Netherlands, the GDP growth rate advanced 0.3 % in 2016 compare to the previous year with 0.2%.
In conclusion, the positive economic impacts of nanotechnology in the Netherlands are mainly necessary for the future development of Holland trade and “Economic Diplomacy”. Indeed, the development of nanotechnology caused the improvement of the healthy life standards, green growth, productive utilize of renewable energy, agro-food security and smart and sustainable mobility within the Dutch Society. Therefore, nanotechnology is the main provider of economic development and foreign investment in the Dutch trade.
Record high remittances to low- and middle-income countries in 2017
Remittances to low- and middle-income countries rebounded to a record level in 2017 after two consecutive years of decline, says the World Bank’s latest Migration and Development Brief.
The Bank estimates that officially recorded remittances to low- and middle-income countries reached $466 billion in 2017, an increase of 8.5 percent over $429 billion in 2016. Global remittances, which include flows to high-income countries, grew 7 percent to $613 billion in 2017, from $573 billion in 2016.
The stronger than expected recovery in remittances is driven by growth in Europe, the Russian Federation, and the United States. The rebound in remittances, when valued in U.S. dollars, was helped by higher oil prices and a strengthening of the euro and ruble.
Remittance inflows improved in all regions and the top remittance recipients were India with $69 billion, followed by China ($64 billion), the Philippines ($33 billion), Mexico ($31 billion), Nigeria ($22 billion), and Egypt ($20 billion).
Remittances are expected to continue to increase in 2018, by 4.1 percent to reach $485 billion. Global remittances are expected to grow 4.6 percent to $642 billion in 2018.
Longer-term risks to growth of remittances include stricter immigration policies in many remittance-source countries. Also, de-risking by banks and increased regulation of money transfer operators, both aimed at reducing financial crime, continue to constrain the growth of formal remittances.
The global average cost of sending $200 was 7.1 percent in the first quarter of 2018, more than twice as high as the Sustainable Development Goal target of 3 percent. Sub-Saharan Africa remains the most expensive place to send money to, where the average cost is 9.4 percent. Major barriers to reducing remittance costs are de-risking by banks and exclusive partnerships between national post office systems and money transfer operators. These factors constrain the introduction of more efficient technologies—such as internet and smartphone apps and the use of cryptocurrency and blockchain—in remittance services.
“While remittances are growing, countries, institutions, and development agencies must continue to chip away at high costs of remitting so that families receive more of the money. Eliminating exclusivity contracts to improve market competition and introducing more efficient technology are high-priority issues,” said Dilip Ratha, lead author of the Brief and head of KNOMAD.
In a special feature, the Brief notes that transit migrants—who only stay temporarily in a transit country—are usually not able to send money home. Migration may help them escape poverty or persecution, but many also become vulnerable to exploitation by human smugglers during the transit. Host communities in the transit countries may find their own poor population competing with the new-comers for low-skill jobs.
“The World Bank Group is mobilizing financial resources and knowledge on migration to support migrants and countries with the aim of reducing poverty and sharing prosperity. Our focus is on addressing the fundamental drivers of migration and supporting the migration-related Sustainable Development Goals and the Global Compact on Migration,” said Michal Rutkowski, Senior Director of the Social Protection and Jobs Global Practice at the World Bank.
Multilateral agencies can help by providing data and technical assistance to address adverse drivers of transit migration, while development institutions can provide financing solutions to transit countries. Origin countries need to empower embassies in transit countries to assist transit migrants.
The Global Compact on Migration, prepared under the auspices of the United Nations, sets out objectives for safe, orderly and regular migration. Currently under negotiation for final adoption in December 2018, the global compact proposes three International Migration Review Forums in 2022, 2026 and 2030. The World Bank Group and KNOMAD stand ready to contribute to the implementation of the global compact.
Regional Remittance Trends
Remittances to the East Asia and Pacific region rebounded 5.8 percent to $130 billion in 2017, reversing a decline of 2.6 percent in 2016. Remittance to the Philippines grew 5.3 percent in 2017 to $32.6 billion. Flows to Indonesia are expected to grow 1.2 percent to $9 billion in 2017, reversing the previous year’s sharp decline. Stronger growth in transfers from countries in Southeast Asia helped offset lower remittance flows from other regions, particularly the Middle East and the United States. Remittances to the region are expected to grow 3.8 percent to $135 billion in 2018.
Remittances to countries in Europe and Central Asia grew a rapid 21 percent to $48 billion in 2017, after three consecutive years of decline. Main reasons for the growth are stronger growth and employment prospects in the euro area, Russia, and Kazakhstan; the appreciation of the euro and ruble against the U.S. dollar; and the low comparison base after a nearly 22 percent decline in 2015. Remittances in 2018 will moderate as the region’s growth stabilizes, with remittances expected to grow 6 percent to $51 billion.
Remittances flows into Latin America and the Caribbean grew 8.7 percent in 2017, reaching another record high of nearly $80 billion. Main factors for the growth are stronger growth in the United States and tighter enforcement of U.S. immigration rules which may have impacted remittances as migrants remitted savings in anticipation of shorter stays in the United States. Remittance growth was robust in Mexico (6.6 percent), El Salvador (9.7 percent), Colombia (15 percent), Guatemala (14.3), Honduras (12 percent), and Nicaragua (10 percent). In 2018, remittances to the region are expected to grow 4.3 percent to $83 billion, backed by improvement in the U.S. labor market and higher growth prospects for Italy and Spain.
Remittances to the Middle East and North Africa grew 9.3 percent to $53 billion in 2017, driven by strong flows to Egypt, in response to more stable exchange rate expectations. However, the growth outlook is dampened by tighter foreign-worker policies in Saudi Arabia in 2018. Cuts in subsidies, increase in various fees and the introduction of a value added tax in Saudi Arabia and the United Arab Emirates have increased the cost of living for expatriate workers. In 2018, growth in remittances to the region is expected to moderate to 4.4 percent to $56 billion.
Remittances to South Asia grew a moderate 5.8 percent to $117 billion in 2017. Remittances to many countries appear to be picking up after the slowdown in 2016. Remittances to India picked up sharply by 9.9 percent to $69 billion in 2017, reversing the previous year’s sharp decline. Flows to Pakistan and Bangladesh were both largely flat in 2017, while Sri Lanka saw a small decline (-0.9 percent). In 2018, remittances to the region will likely grow modestly by 2.5 percent to $120 billion.
Remittances to Sub-Saharan Africa accelerated 11.4 percent to $38 billion in 2017, supported by improving economic growth in advanced economies and higher oil prices benefiting regional economies. The largest remittance recipients were Nigeria ($21.9 billion), Senegal ($2.2 billion), and Ghana ($2.2 billion). The region is host to several countries where remittances are a significant share of gross domestic product, including Liberia (27 percent), The Gambia (21 percent), and Comoros (21 percent). In 2018, remittances to the region are expected to grow 7 percent to $41 billion.
A bio-based, reuse economy can feed the world and save the planet
Transforming pineapple skins into product packaging or using potato peels for fuel may sound far-fetched, but such innovations are gaining traction as it becomes clear that an economy based on cultivation and use of biomass can help tackle pollution and climate change, the United Nations agriculture agency said on Friday.
A sustainable bioeconomy, which uses biomass – organic materials, such as plants and animals and fish – as opposed to fossil resources to produce food and non-food goods “is foremost about nature and the people who take care of and produce biomass,” a senior UN Food and Agriculture Organization (FAO) official said at the 2018 Global Bioeconomy Summit in Berlin, Germany.
This means family farmers, forest people and fishers, who are also “holders of important knowledge on how to manage natural resources in a sustainable way,” she explained.
Maria Helena Semedo, FAO Deputy Director-General for Climate and Natural Resources, stressed how the agency not only works with member States and other partners across the conventional bioeconomy sectors – agriculture, forestry and fisheries – but also relevant technologies, such as biotechnology and information technology to serve agricultural sectors.
“We must foster internationally-coordinated efforts and ensure multi-stakeholder engagement at local, national and global levels,” she said, noting that this requires measurable targets, means to fulfil them and cost-effective ways to measure progress.
With innovation playing a key role in the bio sector, she said, all the knowledge – traditional and new – should be equally shared and supported.
Feeding the world, saving the planet
Although there is enough food being produced to feed the planet, often due to a lack of access, estimates show that some 815 million people are chronically undernourished.
“Bioeconomy can improve access to food, such as through additional income from the sale of bio-products,” said Ms. Semedo.
She also noted its potential contribution to addressing climate change, albeit with a warning against oversimplification.
“Just because a product is bio does not mean it is good for climate change, it depends on how it is produced, and in particular on much and what type of energy is used in the process,” she explained.
FAO has a longstanding and wide experience in supporting family farmers and other small-scale biomass producers and businesses.
Ms. Semedo, told the summit that with the support of Germany, FAO, together with an international working group, is currently developing sustainable bioeconomy guidelines.
Some 25 cases from around the world have already been identified to serve as successful bioeconomy examples to develop good practices.
A group of women fishers in Zanzibar are producing cosmetics from algae – opening up a whole new market with sought-after niche products; in Malaysia, a Government programme supports community-based bioeconomy; and in Colombia, a community is transforming pineapple skins into biodegradable packaging and honey into royal jelly – and these are just a few examples of a bioeconomy in action.
“Together, let’s harness the development for sustainable bioeconomy for all and leave no one behind,” concluded Ms. Semedo.
Belarus: Strengthening Foundations for Sustainable Recovery
The speed of economic recovery has accelerated in early 2018, but the foundations for solid growth need to be strengthened, says the latest World Bank Economic Update on Belarus.
The economic outlook remains challenging due to external financing needs and unaddressed domestic structural bottlenecks. Improved household consumption and investment activity, along with a gradual increase in exports, will help the economy to grow, but unlikely above three percent per annum over the medium term.
“The only way for ordinary Belarusians to have better incomes in the long run is to increase productivity, which requires structural change. While macroeconomic adjustment has brought stability, only structural change will bring solid growth to the country,” said Alex Kremer, World Bank Country Manager for Belarus. “Inflation has hit a record low in Belarus, driving the costs of domestic borrowing down. However, real wages are now again outpacing productivity, with the risks of worsening cost competitiveness and generating cost-push inflation.”
A Special Topic Note of the World Bank Economic Update follows the findings of the latest World Bank report, The Changing Wealth of Nations 2018, which measures national wealth, composed of produced, natural, and human capital, and net foreign assets. Economic development comes from a country’s wealth, especially from human capital – skills and knowledge.
“Belarus has a good composition of wealth for an upper middle-income country. The per capita level of human capital exceeds both Moldova and Ukraine. However, the accumulation of physical capital has coincided with a deterioration in the country’s net foreign asset position,” noted Kiryl Haiduk, World Bank Economist. “Belarus needs to rely less on foreign borrowing and strengthen the domestic financial system, export more, and strengthen economic institutions that improve the efficiency of available physical and human capital.”
Since the Republic of Belarus joined the World Bank in 1992, lending commitments to the country have totaled US$1.7 billion. In addition, grant financing totaling US$31 million has been provided, including to programs involving civil society partners. The active investment lending portfolio financed by the World Bank in Belarus includes eight operations totaling US$790 million.
New Funding for Mindanao Trust Fund to Strengthen Peace and Development in Southern Philippines
Efforts to bring peace and progress in Mindanao were reaffirmed today following the signing of a new agreement that will...
Record high remittances to low- and middle-income countries in 2017
Remittances to low- and middle-income countries rebounded to a record level in 2017 after two consecutive years of decline, says...
Bangladesh: World Bank Increases Support for Clean, Renewable Energy
The World Bank today approved $55 million to expand use of clean renewable energy in rural areas of Bangladesh where...
Mher Sahakyan on “Belt & Road from the Perspective of China’s National Security”
Moscow, Russian Federation—On April 16-23, 2018, the “The Digital Economy: Man, Technology, Institutes” was held at the Faculty of Economics...
Busting the Blockchain Hype: How to Tell if Distributed Ledger Technology is Right for You
Blockchain has been hailed as the solution for everything, from resolving global financial inequality, providing IDs for refugees, to enabling...
Building a Climate-Resilient South Asia
Last summer’s monsoon hit South Asia particularly hard and left nearly 1,400 people dead and displaced millions of others. In...
Indonesia’s ‘Superheroines’ Empowered with Renewables
About a third of Indonesians, roughly 80 million people, live without electricity and many more with only unreliable access. In...
Green Planet2 days ago
New Satellite Animations of Earth Show How Quickly Humans Are Changing the Planet
Russia2 days ago
Russia: The Winner of the latest airstrikes against Syria
Russia2 days ago
Russia’s demise in the Age of Information
East Asia2 days ago
Unified Korea: A stepchild of Asia
Cities2 days ago
Sri Lanka: From My Eyes and Experiences
Middle East3 days ago
Saudi engagement in Iraq: The exception that confirms the rule?
Americas3 days ago
How Wikipedia Lies
Economy3 days ago
Multilateral Development Banks Present Study on Technology’s Impact on Jobs