Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
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Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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        LATEST NEWS UPDATES | The Exodus of Finance from the Third World -Prabhat Patnaik    </title>
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This unwillingness of finance to stay in, or move to, the Third World, is impairing the ability of several countries to pay for their imports and to service their external debt.

There is an exodus of finance from the Third World..."/>
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This unwillingness of finance to stay in, or move to, the Third World, is impairing the ability of several countries to pay for their imports and to service their external debt.

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                            <p style="text-align:justify">-Newsclick.in</p><p style="text-align:justify"><em>This unwillingness of finance to stay in, or move to, the Third World, is impairing the ability of several countries to pay for their imports and to service their external debt.</em></p><p style="text-align:justify">There is an exodus of finance from the Third World at present, far exceeding in scale what had occurred in 2008 after the financial crisis. Even more important than the actual outflow is the desire on the part of finance to pull out of the Third World, including even the so-called &ldquo;emerging markets&rdquo;, and move to US dollars or dollar-denominated assets. This is resulting in a depreciation of a host of Third World currencies vis-&agrave;-vis the dollar, of which the Indian rupee is an obvious example.</p><p style="text-align:justify">This is paradoxical at first sight. After all, the US is the country at the epicentre of the coronavirus crisis now; why should finance want to flee to the US? But exactly the same thing had happened at the time of the 2008 financial crisis. Even though the US was at the centre of the crisis, and Third World countries were scarcely affected in any direct sense by the collapse of the US housing bubble, the dollar appreciated vis-&agrave;-vis a host of Third World currencies, as finance fled from these countries.</p><p style="text-align:justify">Please <a href="https://www.newsclick.in/Third-World-Financial-Crisis-Due-to-COVID" title="https://www.newsclick.in/Third-World-Financial-Crisis-Due-to-COVID">click here</a> to read more.</p><p style="text-align:justify">&nbsp;</p>                                                           
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This unwillingness of finance to stay in, or move to, the Third World, is impairing the ability of several countries to pay for their imports and to service their external debt.

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    <h1 class="cat-box-title">The Exodus of Finance from the Third World -Prabhat Patnaik</h1>
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                            <p style="text-align:justify">-Newsclick.in</p><p style="text-align:justify"><em>This unwillingness of finance to stay in, or move to, the Third World, is impairing the ability of several countries to pay for their imports and to service their external debt.</em></p><p style="text-align:justify">There is an exodus of finance from the Third World at present, far exceeding in scale what had occurred in 2008 after the financial crisis. Even more important than the actual outflow is the desire on the part of finance to pull out of the Third World, including even the so-called &ldquo;emerging markets&rdquo;, and move to US dollars or dollar-denominated assets. This is resulting in a depreciation of a host of Third World currencies vis-&agrave;-vis the dollar, of which the Indian rupee is an obvious example.</p><p style="text-align:justify">This is paradoxical at first sight. After all, the US is the country at the epicentre of the coronavirus crisis now; why should finance want to flee to the US? But exactly the same thing had happened at the time of the 2008 financial crisis. Even though the US was at the centre of the crisis, and Third World countries were scarcely affected in any direct sense by the collapse of the US housing bubble, the dollar appreciated vis-&agrave;-vis a host of Third World currencies, as finance fled from these countries.</p><p style="text-align:justify">Please <a href="https://www.newsclick.in/Third-World-Financial-Crisis-Due-to-COVID" title="https://www.newsclick.in/Third-World-Financial-Crisis-Due-to-COVID">click here</a> to read more.</p><p style="text-align:justify">&nbsp;</p>                                                           
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        LATEST NEWS UPDATES | The Exodus of Finance from the Third World -Prabhat Patnaik    </title>
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This unwillingness of finance to stay in, or move to, the Third World, is impairing the ability of several countries to pay for their imports and to service their external debt.

There is an exodus of finance from the Third World..."/>
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This unwillingness of finance to stay in, or move to, the Third World, is impairing the ability of several countries to pay for their imports and to service their external debt.

There is an exodus of finance from the Third World..." />
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    <h1 class="cat-box-title">The Exodus of Finance from the Third World -Prabhat Patnaik</h1>
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                            <p style="text-align:justify">-Newsclick.in</p><p style="text-align:justify"><em>This unwillingness of finance to stay in, or move to, the Third World, is impairing the ability of several countries to pay for their imports and to service their external debt.</em></p><p style="text-align:justify">There is an exodus of finance from the Third World at present, far exceeding in scale what had occurred in 2008 after the financial crisis. Even more important than the actual outflow is the desire on the part of finance to pull out of the Third World, including even the so-called &ldquo;emerging markets&rdquo;, and move to US dollars or dollar-denominated assets. This is resulting in a depreciation of a host of Third World currencies vis-&agrave;-vis the dollar, of which the Indian rupee is an obvious example.</p><p style="text-align:justify">This is paradoxical at first sight. After all, the US is the country at the epicentre of the coronavirus crisis now; why should finance want to flee to the US? But exactly the same thing had happened at the time of the 2008 financial crisis. Even though the US was at the centre of the crisis, and Third World countries were scarcely affected in any direct sense by the collapse of the US housing bubble, the dollar appreciated vis-&agrave;-vis a host of Third World currencies, as finance fled from these countries.</p><p style="text-align:justify">Please <a href="https://www.newsclick.in/Third-World-Financial-Crisis-Due-to-COVID" title="https://www.newsclick.in/Third-World-Financial-Crisis-Due-to-COVID">click here</a> to read more.</p><p style="text-align:justify">&nbsp;</p>                                                           
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    <br><a href="https://www.newsclick.in/Third-World-Financial-Crisis-Due-to-COVID" class="re" target="_blank">Newsclick.in, 25 April, 2020, https://www.newsclick.in/Third-World-Financial-Crisis-Due-to-COVID</a><div class="clear"></div>
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The Exodus of Finance from the Third World -Prabhat Patnaik

Published on Apr 25, 2020   Modified on Apr 25, 2020

-Newsclick.in This unwillingness of finance to stay in, or move to, the Third World, is impairing the ability of several countries to pay for their imports and to service their external debt. There is an exodus of finance from the Third World at present, far exceeding in scale what had occurred in 2008 after the financial crisis. Even more important than the actual outflow is the desire on the part of finance to pull out of the Third World, including even the so-called “emerging markets”, and move to US dollars or dollar-denominated assets. This is resulting in a depreciation of a host of Third World currencies vis-à-vis the dollar, of which the Indian rupee is an obvious example. This is paradoxical at first sight. After all, the US is the country at the epicentre of the coronavirus crisis now; why should finance want to flee to the US? But exactly the same thing had happened at the time of the 2008 financial crisis. Even though the US was at the centre of the crisis, and Third World countries were scarcely affected in any direct sense by the collapse of the US housing bubble, the dollar appreciated vis-à-vis a host of Third World currencies, as finance fled from these countries. Please click here to read more.

Newsclick.in, 25 April, 2020, https://www.newsclick.in/Third-World-Financial-Crisis-Due-to-COVID

Tagged with: Covid-19 Coronavirus Capital Flight Portfolio Investment Balance-of-Payments BoP Balance-of-Trade Economic Stagnation Special Drawing Rights SDRs IMF International Monetary Fund

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