Finance & Economics | WPN World People News

"The world has suddenly changed for mankind," Lyndon LaRouche said on Aug. 12. The old values and alignments, ensconced in the dying trans-Atlantic financial system, are being abandoned, and China, Russia, India—and many other nations—are falling into line with a new system, of which the developments around the new institutions established by the BRICS (the organization of Brazil, Russia, India, China, and South Africa) are emblematic. At the core of this is a new system of value, based on the productive powers of labor, and a new platform of productivity, with the future power of a helium-3-fueled fusion economy.

The European Commission has adopted a "Partnership Agreement" with The Netherlands setting down the strategy for the optimal use of European Structural and Investment Funds throughout the country. Today’s agreement paves the way for investing €1.4 billion in total Cohesion Policy funding over 2014-2020 (current prices, including European Territorial Cooperation funding and the allocation for the Youth Employment Initiative). The Netherlands also receives €607 million for rural development and €102 million for fisheries and the maritime sector.

The European Commission has proposed to provide Belgium with €570,945 from the European Globalisation Adjustment Fund (EGF) to help 479 workers made redundant by Ford in Genk (Belgium) and its suppliers to find new jobs. The proposal now goes to the European Parliament and the EU's Council of Ministers for approval.

Ecuador has made significant economic and social progress over the last decade. Economic growth has averaged about 4.5 percent since 2001, and inflation has gradually declined to around 3 percent a year. Financial stability, achieved with dollarization, was preserved and together with low inflation, sustained growth, and higher social spending, helped reduce poverty and improve social indicators. High oil prices in the last several years have generated a windfall income that supported the balance of payments and fiscal accounts, facilitating higher public spending.

An International Monetary Fund (IMF) team led by Jeffrey Franks visited Dubai from August 6 to August 18, 2014, to conduct discussions on the fourth review of Pakistan’s IMF-supported program under the Extended Fund Facility (EFF).