Thai king's demise will slow economy and delay polls

Significance Prime Minister Prayuth Chan-ocha has ordered a one-year period of mourning and proclaimed Crown Prince Maha Vajiralongkorn as the next monarch. The crown prince has been the designated heir since 1972. Impacts US-Thai relations could weaken further in coming years. Thaksin's link to the crown prince is the most serious risk to a smooth succession. The economic impact of the transition will be short-lived.

Subject Prospects for the Spanish government. Significance One year before municipal, regional and European polls and two years before the next general election, parties are already in electoral mode. The liberal Citizens party has consolidated a significant lead in opinion polls while electoral preparations by Prime Minister Mariano Rajoy’s Popular Party (PP) have been set back by a scandal in its Madrid stronghold and its handling of the Catalan crisis. Impacts Approval of the budget would come at the cost of delaying further reform of the pension system. Citizens’ hostility towards nationalist parties could lead to a deeper divide between unionist forces and independence movements. Endorsement of Citizens by France's La Republique En Marche could strengthen its electoral credibility. Electoral successes for Citizens would boost the influence of liberal forces and French President Emmanuel Macron in the EU.


Significance Long-standing Prime Minister Dean Barrow will not be running again, so that Belize will experience a change of leadership even if his United Democratic Party (UDP) wins re-election. The key electoral issues will revolve around the economic impact of the COVID-19 pandemic and allegations of corruption affecting the UDP. Impacts Tourism will be slow to recover, with ongoing restrictions and reduced visitor numbers seeing many businesses struggle. The severity of the pandemic in the United States, Belize’s main source of tourists, increases the risks of reopening to visitors. COVID-19 concerns could result in a low election turnout, undermining the mandate of the winning party. Whoever wins the election will inherit major socioeconomic challenges that will curtail any political honeymoon period.


Significance Canada's opposition parties are engaged in protracted, 18-month contests to elect their next leaders, who will challenge Prime Minister Justin Trudeau and the governing Liberals in the 2019 federal election. With Trudeau passing the one-year mark in office, many of both parties' most prominent figures are sitting the races out, judging Trudeau's electoral position unassailable. However, once the leadership contests gain momentum, they will reveal important political and policy splits that could offer early indications of Trudeau's prospects for re-election. Impacts The governing Liberals will legislate mostly unchallenged at the federal level. However, provincial premiers may be a source of more robust opposition to Trudeau's policy agenda. The internal divisions in the NDP may diminish the political clout of labour unions in Ottawa. A pro-business centrist Conservative leader could alienate social conservatives and shake loose a splinter movement.


Significance An intense political crisis has emerged since Prime Minister Saad al-Hariri resigned from his post in a televised speech from Saudi Arabia on November 4, one year after he was named premier and on the same day as a major purge of the Saudi political establishment (including some of his former allies). In an unusually belligerent speech, he cited as his motives an assassination threat, Iranian interference and the independent weapons capability of Shia party Hezbollah. Impacts A likely return to prolonged government paralysis will block reform plans and hurt the economy. With Hariri significantly weakened, Lebanon’s Sunni community will struggle to achieve political representation. Intensifying Saudi-Iranian tensions could find military expression, although this is more likely in Yemen than Lebanon. Israel will only be drawn in if Hezbollah directly attacks its interests, which is unlikely.


Significance The winner will become prime minister and lead the party into a general election that must take place before the middle of November. Four candidates are running. The incumbent bureaucratic reform minister and 'vaccine czar' Taro Kono is the clear frontrunner, but much could change over the next twelve days. Impacts More North Korean missile tests and other provocations would benefit the more hawkish candidates, Fumio Kishida and Sanae Takaichi. A win for Takaichi, who is backed by former Prime Minister Shinzo Abe, would make Abe the 'power behind the throne'. Japan's foreign partners are wary of a return to the 'revolving door' pattern of weak leaders serving one-year terms, but this is unlikely.


Subject Economic impact of demonetisation. Significance On the night of November 8, Prime Minister Narendra Modi’s government withdrew the 500-rupee (7.30 dollars) and 1,000-rupee notes as legal tender. Notes of those denominations accounted for around 25% of all notes in circulation and 85% of the value of currency in circulation in the country. The government’s ostensible aim is to curb illicit wealth and “terrorist financing”. This move has flushed out a large chunk of the currency in circulation in a very short time. Impacts Urban and rural demand is likely to suffer due to demonetisation. Prices of agricultural products are likely to fall due to trade disruptions. Demonetisation will reduce employment in sectors such as informal manufacturing and construction.


Significance Kishida is a veteran politician from the party mainstream, who served as former Prime Minister Shinzo Abe's foreign minister for many years and then as party policy chief. Parliament will convene on October 4 and elect him as the new prime minister. He will lead the party into a general election now expected on either November 7 or 14. Impacts Stimulus measures to deal with the economic impact of the COVID-19 pandemic will be an early priority. The run-up to the COP26 climate conference will see details of the new government's energy policy emerge, which will include nuclear power. The LDP's status as ruling party is not under threat, but losing seats in the election would immediately weaken Kishida's position.


Subject Malaysian opposition's election strategy. Significance Malaysian prison authorities last week prevented a meeting between jailed People’s Justice Party (PKR) leader Anwar Ibrahim and former Prime Minister Mahathir Mohamad of the Malaysian United Indigenous Party (PPBM). The opposition Pakatan Harapan (PH) coalition on January 7 announced Mahathir as its candidate for the general election, with the proviso that he gives way to Anwar within one year of a poll win. The election must take place by August, but Prime Minister Najib Razak of the United Malays National Organisation (UMNO)-led Barisan Nasional (BN) coalition is yet to announce the date. Impacts The re-delineation of electoral boundaries is likely to favour the incumbent government. Religion is likely to be a prominent feature of election campaigning. A Mahathir premiership following the poll would likely leave Malaysia’s fiscal and industrial policy unchanged.


Subject Pakistan's economic woes. Significance Prime Minister Imran Khan says he cannot afford to declare a COVID-19 lockdown in Pakistan because of the damage it would do to the economy, although provincial authorities have imposed restrictions on movements and business operations anyway. Meanwhile, Islamabad has approached the IMF for a 1.4-billion-dollar loan to help deal with the economic impact of the pandemic, on top of the 6.0-billion-dollar bailout it secured from the Fund last year. Impacts Khan will increasingly emphasise the importance of youth volunteers in helping poorer people affected by the COVID-19 crisis. Currently low oil prices may help reduce Pakistan’s import bill even as the current account deficit widens. The Federal Board of Revenue will struggle for direction until its leadership situation is clarified.


2017 ◽  
Vol 44 (5) ◽  
pp. 643-652
Author(s):  
George Karaphillis ◽  
Fiona Duguid ◽  
Alicia Lake

Purpose Little research exists on the economic impact of the co-operative sector in Canada, and changes in the sector over time. The purpose of this paper is to fill-in the gaps in the knowledge about the size of the sector and its performance over time using a comparative analysis. Design/methodology/approach The authors of this paper conducted an input-output analysis of co-operatives in Canada for the years 2009 and 2010. First, the authors quantified the size of the sector for each year and then these two data points were compared to analyze the changes in this one-year period. Findings This paper demonstrates that co-operatives in Canada are significant to the national economy and remain stable over time. Originality/value This is the first time such a study has been done in Canada for the co-operative sector.


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