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Since the Belt and Road Initiative (BRI) was initiated in 2013, China under Xi Jinping has continued to expand its capital to various countries. This expansion is part of China's strategy to shore up its position as a major global economic and political power vis-à-vis the United States. As nearly 70 countries have joined the BRI network, this economic cooperation scheme contributes to economic growth and helps close the infrastructure gap. Nevertheless, the case of China's capital expansion in Africa has shown mixed results, where some economies are becoming more dependent and even facing a debt trap. This article addresses why such economic cooperation has turned into a debt trap for countries in the African region. Applying the concept of Structural Power in examining China's investment in Zimbabwe, Cameroon, and Djibouti, this article argues that the debt trap has been caused by the structural disparity between China as an investor and African countries as investment recipients. China, in this case, has a more dominant "good" aspect, while African countries are more in "need." This article also contends that the debt trap is a strategy carried out by the Chinese government to dominate the African economies in the long run. The three case studies are valuable as they represented different geographical locations in the region and portray a border of lower middle-income countries in general. [ABSTRACT FROM AUTHOR]

In asking whether China's growing economic power and international economic engagement increases or reduces the highly constrained industrial policy space associated with the contemporary neoliberal mode of regulation of international economic relations, it is argued that Chinese finance enlarges the development policy space as it significantly helps fill infrastructure gaps, while focusing on big clusters of projects in the energy, transport and industry sectors. In addition, it provides finance free of the neoliberal conditionalities attached to Western-centred multilateral and private finance. Regarding trade and investment relations, Chinese agreements are shallow and grant national states the upper hand in relation to behind-border industrial policy measures in striking contrast to core countries' neoliberal trade and investment agreements. Considerable emphasis is placed on the responsibility of the Global South to adopt measures enabling itself to seize the development opportunities derived from China's internationalisation approach. [ABSTRACT FROM AUTHOR]

Copyright of Czech & Slovak Social Work / Sociální Práce / Sociálna Práca is the property of Czech & Slovak Social Work and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper examines how China’s presence in the East African seaports has created a threat to the Indian Ocean’s security. In particular, the research empirically analyses whether China’s growing activities in the Western Indian Ocean along the East African coast have dismantled the security architecture of the Indo-Pacific. This paper aims to understand the responses of India and her allies in containing China’s rise in the region. The paper has taken three East African ports, Dar es Salaam, Lamu, and Doraleh port of Djibouti, as a case study to examine how Chinese presence in these three ports could dismantle the security architecture of Indo-Pacific in the Western Indian Ocean region. The paper demonstrates that the present competition of power projection in the Indian Ocean is a power maximization strategy for the national security of each state. Using primary and secondary data available on China, India, and other states’ policies and activities, the study finds that it is a policy failure of the Indo-Pacific, accelerating China’s rise in the region. However, the Indo-Pacific partners are revamping their policies to check China’s rise in the Indian Ocean region.

The African Union and regional economic communities have identified infrastructure development, not least the enhancement of railway systems, as a key priority to advance regional and continental integration policy. The keen interest of Chinese actors in Africa's railway sector is largely welcomed as conducive to increasing infrastructural connectivity within and between Africa's sub‐regions. This article argues that regional railway projects must be assessed against regional political contexts, which crucially co‐determine the degree of coordination and cooperation in the context of region‐centric infrastructure policies. Competing national political agendas, exacerbated mostly by China's bilateral engagement with East African Community member states, has intensified East Africa's infrastructure race. This has resulted in a poorly coordinated standard‐gauge railway project along the East African Northern Corridor; consequently, its economic viability is in doubt. Related Articles: Ikeanyibe, Okechukwu Marcellus. 2018. "Bureaucratic Politics and the Implementation of Liberalization Reforms in Nigeria: A Study of the Unbundling and Reorganization of the Nigerian National Petroleum Corporation." Politics & Policy 46(2): 263–94. https://doi.org/10.1111/polp.12249. Iwuoha, Victor Chidubem, Nneka Ifeoma Okafor, and Emmanuel Ifeadike. 2022. "State Regulation of Nigeria's Maritime Ports: Exploring the Impact of Port Concession on Both the Regulator and the Operators." Politics & Policy 50(5): 1032–52. https://doi.org/10.1111/polp.12495. McNamara, Madeleine W., John C. Morris, and Martin Mayer. 2014. "Expanding the Universe of Multi‐Organizational Arrangements: Contingent Coordination and the Deepwater Horizon Transportation Challenges." Politics & Policy 42(3): 346–68. https://doi.org/10.1111/polp.12073. [ABSTRACT FROM AUTHOR]

This paper examines how China's presence in the East African seaports has created a threat to the Indian Ocean's security. In particular, the research empirically analyses whether China's growing activities in the Western Indian Ocean along the East African coast have dismantled the security architecture of the Indo-Pacific. This paper aims to understand the responses of India and her allies in containing China's rise in the region. The paper has taken three East African ports, Dar es Salaam, Lamu, and Doraleh port of Djibouti, as a case study to examine how Chinese presence in these three ports could dismantle the security architecture of Indo-Pacific in the Western Indian Ocean region. The paper demonstrates that the present competition of power projection in the Indian Ocean is a power maximization strategy for the national security of each state. Using primary and secondary data available on China, India, and other states' policies and activities, the study finds that it is a policy failure of the Indo-Pacific, accelerating China's rise in the region. However, the Indo-Pacific partners are revamping their policies to check China's rise in the Indian Ocean region. [ABSTRACT FROM AUTHOR]

The article engages in a critical reading of the political pattern of Sino-Sri Lankan bilateral engagement. China offers an alternate global order for Sri Lanka by underscoring political discourses like "harmonious world" and "building a community with a shared destiny or future for mankind." Through these discourses, China attempts to present a "fair and equitable" international system to small states such as Sri Lanka to mobilize them against the universalization of the liberal order. This is part of China's goal to challenge the universalization of liberal values to indicate the Chinese economic and political model as aspirational for developing countries. However, it culminates as the "hegemony of harmony," as China dictates the terms to protect its national interests, dissimulating cultural relativism and exceptionalism as the foundation of the Chinese-led global order. This article employs historical and descriptive analysis to explain the political nature of Sino-Sri Lankan engagement, elucidating China's specific strategies to harmonize Sri Lanka. [ABSTRACT FROM AUTHOR]

China’s Belt and Road Initiative has been called many things, while it is highly possible that there is not much novelty to it except for a name that sounds convincing. This study examines if the has brought significant changes to the Latin American region and concludes that there has been no real di erence in Chinese investment attitude based on participation in the BRI, therefore Chinese presence shall be looked at in the context of the whole region as opposed to through a BRI-centered approach. Looking at the usual elements of criticism of the initiative, Chinese activities don’t seem to add up to be a controlled scheme of economic and political takeover, nor an invasion of corrupt practices, but rather a logical and natural synergy of partners that satisfy each other’s needs, and even have similar cultural approaches when administrative functioning enters grey areas.

The Belt and Road Initiative (BRI) attracts many Chinese multinational enterprises (MNEs) to invest abroad, but China's intention behind this policy has raised heated disputes. Drawing on an institution-based view and theories of emerging market multinational enterprises (EMNEs), we analyze whether the initiative undermines host countries' financial conditions through outward foreign direct investment (OFDI). Using the time-varying Difference-in-Differences model based on Chinese enterprises' investment data from 2009 to 2020, we find the BRI facilitates Chinese OFDI to host countries but with no significant increase in distressed debt. Chinese OFDI eschews heavily indebted countries and shows little relevance to the growth of the BRI countries' non-repayable debt, which contradicts the "debt-trap" argument. [ABSTRACT FROM AUTHOR]

This study examines the complex relationship between the energy sector and economic development that poses challenges to sustainable development in resource-producing countries. We investigate the hypothesis that resource-rich developing and underdeveloped nations struggle to maximize the advantages of their crude oil reserves, ultimately experiencing the phenomenon known as the “resource curse”. The paper examines the need for developed countries to formulate new strategies to meet their domestic energy needs. The authors argue that industrialised countries can tap into resources from developing nations, but it is important to ensure that these nations benefit fairly. The research is based on the analysis of data on oil production, human development index (HDI) ranking, and GDP to debt ratio. We call for further research to develop effective policies that can address the relationship between energy and economic issues and propose future research directions to ensure that developing countries can benefit from their energy economies.

Power and influence are important concepts in world politics. In this process, every country tries to maximize its interests and influence over other countries. The present world order, soft power, plays an important role in influencing others' policy-making processes in one's favor to establish a world order. This paper aims to give an overview of Chinese soft power and find out whether Chinese soft power is creating a debt trap or becoming a shared interest for both Bangladesh and China. Based on secondary sources, the paper has found that although Chinese soft power, especially its growing investment in Bangladesh, is a part of establishing its influence, it is a shared interest rather than a debt trap. Different infrastructure development projects are opportunities for Bangladesh, as that will open the door to economic development if Bangladesh can effectively utilize them, although China's investment can put Bangladesh's economy under pressure. However, economic and political instability, fragile institutions, growing corruption, leadership crisis, etc. are more harmful to its economy and can lead to an economic crisis. [ABSTRACT FROM AUTHOR]

This paper proposes a theoretical framework in an attempt to better explain the behaviours of some consumers of financial products during market crises. We review the established notions of irrationality and deception, and then add the construct of disconnection from financial needs, goals and preferences. We propone that these three concepts, respectively, cognitive, behavioural and emotional in nature, create a dark financial profile (DFP) by which these consumers unwittingly build debt. We use bibliometrics to highlight the current gap in the scholarly domains of interest and provide market examples of how the DFP likely deploys in the marketplace. This is the first article to use disconnection in such a context, and to improve the understanding of consumer behaviours in regard to disconnection, irrationality, deception and debt. Thus, we enrich the literature on debt, which has at times ignored the role of the combination of these constructs. We investigate avenues of research for developing further our emerging framework, especially on the notion of disconnection, and suggest that this effort may assist in preparing effective marketing of financial education programs and improving lending practices. [ABSTRACT FROM AUTHOR]

The Belt and Road Initiative (BRI) is a massive Chinese state/capitalist programme of transnational infrastructure construction initiated in 2013. Between 2013 and 2016, Chinese banks extended hundreds of billions of dollars –principally across Asia, but also Europe and Africa – for transportation and energy networks. Recently released statistics, however, suggest that project lending for the BRI collapsed from 2016 onwards. Our paper examines the reasons for this contraction through a case-study of the BRI in Africa. We contend that the lending contraction resulted from political and economic contradictions generated by this form of international interconnection, including the types of debt traps it helped create. This outcome is explained partly by the fact that the BRI is simultaneously a geopolitical and geoeconomic project. Whereas the balance of economic risks is arguably skewed against borrowers (in some cases leading to debt traps), from a geopolitical perspective, the Chinese state also seeks to expand influence in Africa and elsewhere in the developing world. This creates counter-pressure on further expansion of such financing, which, complemented by domestic economic implications of loan failure, helps to explain the contraction. [ABSTRACT FROM AUTHOR]

This article explains how China uses a debt Trap diplomacy to gain hegemony. The paper's descriptive-analytical hypothesis was that China seeks to expand its economic, political, and strategic influence in the region and the world to become a hegemonic power. Along the way, the country, through its Belt and Road initiative, especially lending to infrastructure projects called "public goods" to countries along its route, is trapping these countries in its circle and making them a platform for used its regional and global influence. This approach has created a negative perception of China in the eyes of international public opinion, and this has led China to move away from it instead of approaching the hegemonic position. The findings of the paper show that if countries have a negative perception of the public goods in the realm of international relations, the acquisition, maintenance, and promotion of the hegemonic position will be challenged. [ABSTRACT FROM AUTHOR]

Payday loans are disproportionately used by African Americans and women including single mothers. Little empirical research exists incorporating data from payday loan employees. This exploratory study used a phenomenological approach and in‐depth interviews to examine the lived experiences of two groups: African American single mothers who used payday loans and former payday loan employees who extended and collected on payday loans. The interviews resulted in four themes from the single mothers' experiences including "right decision at the time" and "it's addictive" and five themes from the former employees including "help the customer come back" and "relating to the customers." [ABSTRACT FROM AUTHOR]

This introductory chapter provides a brief overview of the development of the Belt and Road Initiatives that comprises 6 BRI corridors. It explores the reasons behind the launching and promoting of the BRI by the Mainland Chinese government. The initiative by President Xi Jinping is, in part, the fulfillment of the China Dream and his focus on the "Community of Shared Future for Mankind." In this sense, BRI provides a platform for Mainland Chinese business community and individuals to move out of the comfort of Mainland Chinese society and embark on economic and cultural connectivity with business community and the Chinese Diaspora in the global world. At the same time, BRI also serves as a platform for the global business and Chinese community to reach into China. As such, BRI could be regarded as a soft power and a cultural power that facilitate people-to-people connectivity and enhance sociocultural and economic activities along the BRI flowscape. The papers in this volume each provides a case study of how BRI serves as a soft and cultural power that enables the individuals and the business corporations to expand in their sociocultural and economic connectivity. [ABSTRACT FROM AUTHOR]

ABSTRACT Existing interest rates imply explosive debt dynamics for Brazil. It also faces rising inflation from earlier currency depreciations, which could trigger future depreciation. These conditions impose a policy contradiction. Brazil needs lower interest rates for debt sustainability, but tight monetary policy to avoid exchange rate depreciation and inflation. The paper develops a strategy to escape this contradiction. Policy must bolster investor confidence to lower external interest rates, lower domestic interest rates to reduce debt service burdens, and implement domestic credit creation controls to control inflation.

Existing literature on China–Pakistan trade relations mainly deals with potential opportunities for Chinese investment, while no study has so far specifically analysed Chinese investment in light of the China–Pakistan Economic Corridor (CPEC) project by taking into account how Pakistan's domestic factors shape foreign trade relations. This article argues that the weak economic indicators of Pakistan reveal a possibility of defaulting on debt repayments, as Chinese loans have relatively high-interest rates. Through a two-level analytical framework, this article demonstrates that, despite concerns about Chinese debt traps at the international level, the CPEC project is still largely intact due to strong domestic support of the Pakistani establishment. Further, the geostrategic importance of Pakistan for China is higher than merely trade relations. It is thus also not in the interest of China to see its investments in Pakistan become a debt trap, though the institutional arrangements in Pakistan are prone to mounting debts. [ABSTRACT FROM AUTHOR]

We revisit the theory of financial crises using a predator-prey metaphor, highlighting the relationship between greed, risk aversion and debt accumulation and aggregating concepts from economics, finance and psychology. We argue that regulations that are implemented inefficiently, with weak enforcement or at the wrong time can have deleterious effects on the market, worsening the ailment they initially intended to correct and leaving a spray of prey in their wake. To illustrate our hypothesis, we examine the role of regulations in the years leading up to and during the Global Financial Crisis (GFC) in the United States, when the Federal Reserve tried to restrain the over-heated housing market propelled by the predatory mortgage frenzy and the increased use of securitization in risk-hiding financial tools such as Collateralized Debt Obligations (CDOs). Our results indicate that deleterious government interventions may act as a chemotherapy of sorts, causing harm followed by a slow recovery. This understanding can help governments draft better regulations to lower market frictions and better protect investors. [ABSTRACT FROM AUTHOR]

The present article introduces the concept of consumer spinning. This occurs when consumers have lost track of their initial motivation to consume and engage unwittingly in hamster-like spinning in a "wheel of misfortune", being encouraged to spend through sweetheart deals and thus incur debt without even realizing it. This article takes for example the Global Financial Crisis of 2007-2009 (GFC) during which the use of such sweeteners by sellers of predatory mortgages and advocates for lax regulations led U.S. consumers to spin and, in the process, ignore the debt trap they were falling into. We discuss the results of a functional magnetic resonance imaging (f MRI) experiment we conducted to test the ratio of greed over risk aversion and the hypothesized phenomenon of spinning. We believe that this is the first academic attempt to examine spinning resorting to an experimental tool used regularly in neuroscience and psychology research. Our framework indicates that government regulators should take the role of marketing sweeteners into account when devising policies. Marketing managers, who strive to educate consumers and help them reduce their debt load, thus promoting better purchasing power, stand to benefit from an understanding of these possible spinning behaviors and adapt their campaigns accordingly. We believe that there should be legal consequences for encouraging consumer spinning, as this at times may be an intentional and deceitful invitation for consumers to harm themselves financially. [ABSTRACT FROM AUTHOR]

Copyright of Brazilian Journal of Law & International Relations / Relações Internacionais no Mundo is the property of Relacoes Internacionais no Mundo and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This article discusses the China model in the context of Zimbabwe's socioeconomic and political trajectory in the past two decades. It shares perspectives on why and how Sino‐Zimbabwe economic relations have failed to produce the desired outcomes. This has been largely influenced by the policy's role as more a political posturing to suit regime interests in the face of international isolation rather than a strategic deployment of the China model. I conclude by giving perspectives on the implications of China's largely self‐interested model of economic engagement with Africa under the new Belt and Road Initiative on the long‐term economic development in Zimbabwe and Africa at large. In the absence of the necessary factors and guiding philosophy, in particular within the public sector management domain, it is highly improbable that the emergence of China as a development partner under the so‐called "Beijing Consensus" will lead to a replication of its success in Zimbabwe and other African countries of the same disposition. Related Articles (in this Special Issue): Babones, Salvatore. 2020. "China's Development Model: Can it be Replicated in Sub‐Saharan Africa?" Politics & Policy 48 (5). Kinyondo, Abel A. 2020. "Does Tanzania's Development Trajectory Borrow from the China Model?" Politics & Policy 48 (5). Ziso, Edson. 2020. "The Political Economy of the Chinese Model in Ethiopia." Politics & Policy 48 (5). [ABSTRACT FROM AUTHOR]

Copyright of Alternative Politics / Alternatif Politika is the property of Alternatif Politika and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The issue of 'China colonizing Africa' received significant attention in both traditional and social media in the periods before, during and after the Forum on China Africa Cooperation (FOCAC) 2018 meeting. This study traces these discourses on YouTube, which is one of the social media platforms widely used to raise awareness and also influence public opinion on various issues. Thematic and content analysis are used to identify the dominant themes discussed in the selected videos and also to identify the sentiments expressed by viewers in the comments posted. The issue activation and response model is used to create meaning from the data. The study finds that the themes and the sentiments reflect the dominance of pessimistic and optimistic perspectives on the Africa–China relationship. Furthermore, the study shows that the themes discussed have not offered new perspectives but instead the discussions have repackaged old narratives as part of agenda building efforts by the protagonists. The study, therefore argues that social media have become important platforms for activation of issues on the Africa–China relationship, hence the persistence of these old narratives is attributed to lack of effective responses to issues on social media by both African countries and Chinese officials. [ABSTRACT FROM AUTHOR]

Copyright of Scientific Papers NaUKMA. Economics is the property of National University of Kyiv-Mohyla Academy, Faculty of Humanities and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

In the shadow of China's rise involving relative US hegemonic decline, Japan is considered to have played supplementary and complementary roles to buttress the international status quo and to have been engaged in a geoeconomic competition with China. Yet, in October 2018, Japan and China announced an about-face on their respective bilateral policy lines from competition to cooperation. This change begs the question of if the two in fact followed a competitive game at the grand-strategic levels. The study will cast a doubt about the assumed link of the two countries' declared policy lines and actual policy actions and argue for the case of a propaganda rivalry. This study will examine Japan's "Free and Open Indo-Pacific Strategy" against China's "Belt and Road Initiative" Strategy, with focus on their status within the respective national strategy systems, financial resources and funds, and project feasibility/viability. Then the study will identify some crucial factors of the two countries' setbacks and analyze their transitory reconciliation. This paper is intended to exemplify a realist approach to systematic and critical examination of "strategy", a most abused term, that often misguides foreign and security policy analysis. [ABSTRACT FROM AUTHOR]

Political leadership of various states in India is under tremendous pressure to provide instant relief to the farmers reeling under debt trap, resulting in suicides in several cases. Often, suicides by peasants are widely covered in the media which in turn sway the people's perception about apparent indifference of the government towards the farming communities of the country. This certainly brings in concerns related to political economy revolving around judicious distribution of wealth and national income of the country. State governments of India are generally reluctant to waive off the farm loans as a matter of routine due to concomitant burden on exchequer that might adversely affect their fiscal balances. However, political parties tend to use farm loan waiver as tactics to come to power in spite of the fact that such populist measures are not good for the economy, nor do they offer a long-term solution to the age-old problem of higher degree of incidence of indebtedness among the farming communities. This article explores the antecedents and consequences of farm loan waivers and the way forward. Besides, it also reconnoitres whether the state takes such decisions as farm loan waiver purely on the basis of economics or any hidden political agenda. [ABSTRACT FROM AUTHOR]

The debt question in Nigeria is a recurring issue that bothers on the structure of the economy, nature of the international capitalist system, behaviour of the governing class and politics of the belly. This research adopts the dependency approach to explain the correlation between the nature of the international economy and political system and the peripheral nature of Nigeria's economy,and the social forces engaged in the struggles on the nature of external debt. The dependency theory provides the basis to proffer alternatives to resolve the recurring debt crisis in the Nigerian economy. This work finds that the country's external debt crisis is the result of the location of the Nigerian economy in the global capitalist system as dependent, peripheral entity,and the resultant unequal relations between the core capitalist states and Nigerian state. The research finds that the debt problem is exacerbated by the internal contradictions that characterize the national economy. The resolution of the debt burden requires radical shift from orthodoxies, which addresses the question of dependence, peripheral and neo-colonial nature of the Nigerian economy. The debt portfolio will likely increase when the economy remains largely import dependent, lacking export orientation, characterized by a predatory state, and reflecting politics of the belly. This work posits that the country will likely recede into new debt trap except its status in the global political economy is addressed. [ABSTRACT FROM AUTHOR]

Income contingent schemes have been widely used in student lending in the last few decades. Recently, in the aftermath of the crisis of 2007-2008, several authors argued that income contingent loans have much better risk profiles than traditional fixed loans, and they proposed to extend their scope to other areas of retail lending, too. Hence, understanding this scheme can be relevant from the point of view of both human resource management and financial engineering. In this paper we analyzed the unusual characteristics of income contingent repayments, and derived closed formulas for stability, success and shape. We concluded that humped debt paths can be frightening; however, if the growth rate of the debt is lower than the growth rate of the income, then it is not a debt trap, but a natural consequence of this patient and flexible scheme, which requires new methods of communication, risk management, financing and administration. [ABSTRACT FROM AUTHOR]

In this study, we analyse the factors that have led to the fall of real interest rates on the long term. We show that this tendency, i.e. the fall in real interest rates, which began three decades ago in developed countries is well explained by the emergence and growth of the global saving glut. We formulate the hypothesis according to which the increase in the global excess saving is mostly the result of a process whereby countries place themselves on a secondary position vis-à-vis the US (i.e. secondarity) with regard to taking and managing risks which occur after a crisis. The ensuing peculiarity of global excess saving is that it is generated in an increasing number of countries or economic areas, with the overwhelming part located in a few of them, while the overwhelming part of the global deficit of savings is located in the US. Secondarity is caused both by governments, which have sought to move to excess saving, as was the case of Asian countries (Bernanke, 2005), or to capping budget deficits, as it happened in the Eurozone and in the EU, and by the free choice of every economic agent in the private sector. Secondarity represents a major cause for a vicious circle in which the decline in interest rates to ever lower levels has led to the emergence of financial bubbles, whose bursting requires the further reduction of interest rates, thus generating new bubbles and so on and so forth. Misinterpreted in real time as the 'Great Moderation', this vicious circle went unobserved. [ABSTRACT FROM AUTHOR]

The study intends to explore what those emerging challenges are that global governance presently deals with on its attempts to guarantee more secure, prosperous and democratic world. For that reason, the cases for each specific emerging regional threat have been selected and analyzed. The conclusion drawn from the analysis shows the major deficiencies found in the contemporary system of global governance which can be attributed to the systems incapacity to address these problems with more concerted and coordinated global approach.

The performance of micro credit institutions is always under continuous scrutiny. The supporters of micro credit institutions praise their contribution to our economy but some critics always accuse them of being greedy by charging too much interest and say that these micro credit lenders have done very little in reducing the poverty level of our country. In our study, we have avoided this controversy and focused our attention on the issues that can make micro credit more successful in improving the economic situation of the loan recipients. We have selected 250 samples through simple random sampling method from the Dhaka city micro credit recipients. From the analysis, it is found that a borrower's failure to reduce the poverty depends on the absence of proper guidance from the lender, high interest rate, not properly investing the micro credit loan, lack of proper business knowledge and inadequate money to invest in profitable business. It is found that 50% explanation of a micro credit recipient's success or failure lies on these variables. On the basis of the findings, we have suggested that micro credit institutions should put in place a rigorous monitoring system to ensure proper utilization of the loan and to provide continuous suggestion about the various aspects of the business and should act as a business consultant also. [ABSTRACT FROM AUTHOR]