Year 2016 Review using 12 Charts

 

The World Bank produced the following article on Year 2016 Review using 12 Charts.  It is written by  Tariq Khokhar  with co-author: Donna Barne on December 22nd, 2016.  We republish the first 7 items of the article here and would seriously recommend reading the rest in its original publication by clicking the article title below.  One would also notice that the video in question in the article can be visualised only in its original bedding.  

Tariq Khokhar

Year in Review: 2016 in 12 Charts (and a video)

 

Between the social, political, and economic upheavals affecting our lives, and the violence and forced displacement making headlines, you’d be forgiven for feeling gloomy about 2016. A look at the data reveals some of the challenges we face but also the progress we’ve made toward a more peaceful, prosperous, and sustainable future. Here are 12 charts that help tell the stories of the year.

1.The number of refugees in the world increased.

At the start of 2016, 65 million people had been forcibly displaced from their homes, up from 60 million the year before. More than 21 million were classified as refugees. Outside of Sub-Saharan Africa, most refugees live in cities and towns, where they seek safety, better access to services, and job opportunities. A recent report on the “Forcibly Displaced” offers a new perspective on the role of development in helping refugees, internally displaced persons and host communities, working together with humanitarian partners. Among the initiatives is new financial assistance for countries such as Lebanon and Jordan that host large numbers of refugees.

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  1. The global climate change agreement entered into force.

The pact negotiated in Paris in 2015 was ratified by 118 of the 194 countries that signed it, triggering new commitments to combat global warming. One of the agreement’s major goals is to promote a shift to low-carbon energy. Demand for renewable energy is picking up in developing countries as prices decline. In May, Africa saw its lowest solar price to date when the winning bid to develop large-scale photovoltaic solar plants in Zambia came in at 6 cents per kilowatt hour – or 4.7 cents/kwh, spread over 20 years.  That followed bids as low as 3 cents in the United Arab Emirates and 4.5 cents in Mexico. Renewables are now cost competitive in many markets and increasingly seen as mainstream sources of energy, according to REN21.

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3.Global trade weakened.

In 2016, global trade growth recorded its weakest performance since the global financial crisis. Trade volumes stagnated for most of the year, with weak global investment playing an important role, as capital goods account for about one third of world goods trade. Trade has been a major engine of growth for the global economy and has helped cut global poverty in half since 1990. A trade slowdown, therefore, could have implications for growth, development, and the fight against poverty.

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  1. More people had access to mobile phones than to electricity or clean water.

Access to mobile phones has surged in low- and middle-income countries, but many of the other benefits of the digital revolution – such as greater productivity, more opportunity for the poor and middle class, and more accountable governments and companies — have not yet spread as far and wide as anticipated, according to the World Bank’s 2016 World Development Report on the Internet, “Digital Dividends.” The report says greater efforts must be made to connect more people to the Internet and to create an environment that unleashes the benefits of digital technologies for everyone.

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  1. A third of all people were under the age of 20.

In around 40 African countries, over 50% of the population is under 20. By contrast, in 30 richer countries, less than 20% of the population is under 20. As the 2015/2016 Global Monitoring Reports notes, the world is on the cusp of a major demographic transition that will affect countries along the development spectrum.

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  1. 600 million jobs will be needed in the next 10 years.

One third of the world’s 1.8 billion young people are currently neither in employment, education nor training. Of the one billion more youth that will enter the job market in the next decade, only 40% are expected to be able to get jobs that currently exist. The future of work is changing, and the global economy will need to create 600 million jobs over the next 10 years to keep pace with projected youth employment rates.

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  1. 1 in 3 people did not have access to a toilet.

The UN estimates that 2.4 billion people still lack access to improved sanitation facilities, nearly one billion of whom practice open defecation. Good sanitation is a foundation for development – conditions such as diarrhea are associated with poor sanitation, and left untreated, can lead to malnutrition and stunting in children. This year’s first High-Level Panel on Water brought together world leaders with a core commitment to ensuring the availability and sustainable management of water and sanitation for all.

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16 events that will shape 2017

AMEinfo came up with this formidable vision of next year titled 16 events that will shape 2017; we could not help but reproduce it here all for the benefit of our readers.  All comments are welcome but we would advise to address direct to AMEinfo with nevertheless a copy to MENA-Forum.  

AMEinfo, is a well known and reliable middle east online medium of information.

Historically as per Wikipedia, AMEinfo.com was initially Arabian Modern Equipment Est., incorporated in Abu Dhabi, in February 1993 by Saif Al-Suwaidi and Klaus Lovgreen. The first version of the AME Info CD-ROM database of 125,000 companies was developed and compiled late 1996 and sold some 10,000 copies.  

The listing of the events as proposed by AMEinfo summed up thus.

  •  Many events of 2016 will have repercussions spilling over into 2017
  •  Positive impacts include Saudi Vision 2030, OPEC deal
  •  The fallout of Trump’s presidency, JASTA law, Italy referendum, etc. remain to be seen

The year 2016 was eventful, to say the least, with the world shaken by several momentous events whose repercussions will spill over into 2017.

Here are 16 events of 2016 that will most probably shape the coming year:

 

Saudi Vision 2030

This vision, announced in April, is one of the top economic highlights of 2016. Its repercussions are yet to be experienced throughout 2017 and beyond. Some of the biggest follow ups to this event are the Saudi Aramco IPO, expected to take place in 2018, privatising Football Clubs in the kingdom and its green card plan.

 

Trump as president of the United States

President-elect Donald Trump filling posts for his administration, getting ready to officially take office in January. This is when his foreign policy is expected to take its final shape and impact the whole world, starting with countries of the Americas, passing through Europe and the Middle East and reaching Asia.  

(Donald Trump wins US elections 2016: What it means for MENA)

 

Brexit

The United Kingdom voted to exit the European Union last June through a national referendum. Since then, the country underwent several months of economic chaos that it tried to keep under control, especially because it had not yet left the European Union. The chaos is expected to continue until the announcement of an exit plan, expected in March 2017.  

(Brexit: Who’s next?)

 

JASTA

The Justice Against Sponsors of Terrorism Act is a law passed by the United States Congress, allowing survivors and relatives of victims of terrorist attacks to pursue cases against foreign governments in the US federal court. The bill raised tensions with Saudi Arabia – when the bill was introduced, Saudi Arabia threatened to sell up to $750 billion in United States Treasury securities and other US assets if the bill is passed. Saudi Arabia is still lobbying the US over the law.

 

Egypt’s floating of the pound

Egypt’s central bank floated the pound currency in November, devaluing by 32.3 percent to an initial guidance level of EGP 13 to the dollar and hiking interest rates by three per cent to rebalance currency markets following weeks of turbulence. According to many observers, Egypt’s floating of its currency comes in a bid to attract more investors to the country.

 

China’s AIIB development bank

China launched the Asian Infrastructure Investment Bank (AIIB), a new international development bank, seen as a rival to the current, US-led World Bank. Countries such as Australia, Britain, Germany, Italy, the Philippines and South Korea agreed to join the AIIB, recognising China’s growing economic strength.

 

Google Alphabet

Last August, Google announced creating a new public holding company, Alphabet. Alphabet become the mother of a collection of companies, including Google, which includes the search engine, YouTube and other apps; Google X, the Alphabet arm working on big breakthroughs in the industry; Google Capital, the investment arm; as well as Fiber, Calcio, Nest  and Google Ventures.

 

Panama papers leak

Roughly 11.5 million documents were leaked in April, detailing financial and attorney-client information for hundreds of thousands of offshore entities. The documents contained personal financial information about famous, wealthy individuals and public officials.

The documents were created by a law firm in Panama, with some dating back to the 1970s.

 

Iran nuclear deal: lifting of sanctions

Although the framework of this agreement was announced in 2015, economic sanctions started to lift only in January 2016. The year saw the beginning of Iran’s return to international markets and more is expected for 2017 as the country has not yet made a full comeback.

 

Samsung Galaxy Note 7

Samsung Galaxy Note 7 phones, released this year, started to heat up and explode, causing some injuries in different markets around the world and killing the model altogether. This created massive chaos for the South-Korean manufacturer, which withdrew all units from the markets and started a gruelling investigation into the rootcause of the issue.

 

King Salman bin Abdel Aziz Bridge

Last April, Saudi Arabia and Egypt agreed to build a bridge over the Red Sea, linking the two countries together. This was seen as a historic move highlighting the excellent relationship between the allies. The bridge would be called “King Salman bin Abdel Aziz Bridge”.

 

OPEC deal

Members of the Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC members as well, reached their first deal since 2001, to curb levels of oil output to ease a global glut after oversupply pressured prices for more than two years. Long-term market reactions to the deal are yet to be felt and will probably be seen throughout 2017.

 

Pokémon Go

The new augmented reality game, developed by Niantic, quickly became a global phenomenon and was one of the most profitable apps of 2016, with more than 500 million downloads worldwide.

 

Italy referendum

Italy’s government, led by then-Prime Minister Matteo Renzi, held a nation-wide referendum proposing reforms and amendments to the country’s constitution. The referendum failed, leading to the resignation of Renzi, tipping the country into potential political turmoil and the rise of the populist, right-wing movement in the country.

Renzi’s resignation and the country’s instability also brought up concerns over a looming banking crisis in Italy, the third-largest national economy in the euro zone.

(Italy referendum: Step 1 to another Brexit?)

 

Fed raises interest rates

The US Federal Reserve raised interest rates, signalling a faster pace of increases in 2017, with central banks adapting to the incoming of a Donald Trump administration, which has promised to cut tax. The year 2017 will probably see the repercussion of that decision.

 

Turkey’s coup

A coup d’état was attempted in Turkey in July against state organisations including the government of President Recep Tayyip Erdogan. The failed coup was carried out by a faction of Turkey’s armed forces, who attempted to seize control of several areas in the capital of Ankara, Istanbul and elsewhere.

The coup, and other terrorist attacks, disturbed Turkey’s peace and stability and harmed its tourism industry, among others.