Plucked from a humble nomad family to become the leader of one of Tibet’s oldest Buddhist lineages, the young Seventeenth Karmapa draws on timeless values to create an urgent ethic for today’s global community. We have always been, and will always be, interconnected—through family, community, and shared humanity. As our planet changes and our world grows smaller, it is vital we not only recognize our connections to one another and to the earth but also begin actively working together as interdependent individuals to create a truly global society. The Karmapa, Ogyen Trinley Dorje, is uniquely positioned to guide us in this process. Drawing on years of intensive Buddhist training and a passionate commitment to social issues, he teaches how we can move from a merely intellectual understanding to a fully lived experience of connection. By first seeing, then feeling, and finally living these connections, we can become more effective agents of social and ethical change. The Karmapa shows us how gaining emotional awareness of our connectedness can fundamentally reshape the human race. He then guides us to action, showing step by step how we can change the way we use the earth’s resources and can continue to better our society. In clear language, the Karmapa draws connections between such seemingly far-flung issues as consumer culture, loneliness, animal protection, and self-reliance. In the process, he helps us move beyond theory to practical and positive social and ethical change.

This paper seeks to advance our understanding of global financial interconnectedness by (i) mapping aspects of the architecture of global finance and (ii) investigating critical fault lines related to interconnectedness along which systemic risks were built up and shocks transmitted in the crisis. It thus takes initial steps toward operationalizing enhanced financial sector and macro-financial surveillance called for by the IMF’s Executive Board and by experts such as de Larosiere et al. (2009). Getting a better handle on interconnectedness would strengthen the Fund‘s ability, together with the Financial Stability Board, to track systemic risk concentrations. It would also inform spillover and vulnerability analyses, and sharpen bilateral and multilateral surveillance.

This paper reviews tools used to identify and measure interconnectedness and raises the awareness of policymakers as to potential cross-sectional implications of prudential tools aimed at controlling interconnectedness. The paper examines two sets of tools—developed at the IMF and externally—to identify the implications of interconnectedness in systemic risk and how these tools have been applied in IMF surveillance. The paper then proposes a preliminary framework to analyze some key internationally-agreed-upon and national prudential tools and finds that while many prudential tools are effective in reducing interconnectedness, the interaction among these tools is far less clear cut.

This relatively simple model attempts to capture and integrate four widely held views about financial crises. [1] Interconnectedness among financial institutions (banks) can play a major role in precipitating systemic financial crises. [2] Lack of information about the quality of bank portfolios also plays a role in precipitating systemic crises. [3] Financial crises, particularly systemic ones, are often followed by severe, lengthy recessions. [4] Loss of confidence in the financial system is partly responsible for the length and severity of these recessions. In the model, banks make decisions about initiating and liquidating risky loans. Interconnectedness among their asset portfolios can obscure information about these portfolios, causing them to make inefficient decisions about liquidation, and about retention of the managers who assess credit risk. These decisions can increase the depth of recessions, and they can produce systemic financial crises. They can also reduce the effectiveness of future bank risk assessment, increasing the probability of lengthy, severe recessions. The government, acting in the interest of current and future depositors, may wish to increase the transparency of bank portfolios by limiting interconnectedness. The optimal degree of regulation, which may depend on depositors’ degree of risk aversion, may not eliminate financial crises.

The aim of this paper is to address the implications of Global Value Chains (GVCs) for the Fund’s surveillance work. The paper first draws on the World Input-Output Database (WIOD) to document the dynamics of trade linkages between countries and regions through GVCs and its impact on the real economy. The paper then examines the implications of GVCs for the real effective exchange rate (REER), a key tool used at the Fund for bilateral as well as multilateral surveillance work, and shows the potential benefit of revisiting the REER formula in light of the increasing relevance of GVCs. The paper ends with implications of GVCs for trade and trade-related policies and the multilateral trading system

International trade and finance are becoming increasingly complicated, which poses many challenges for policymakers, business professionals, and academics. Understanding the intricacies of this global economic landscape is vital to navigating modern business and policy-making complexities. However, the overwhelming amount of information makes comprehending the underlying theories and practices that drive these fields challenging. Global Economic Interconnectedness: International Trade and Finance provides a comprehensive analysis of the mechanisms of international trade and finance. By unraveling the complexities of these relationships, the book helps readers understand how economic policies are formulated, how global markets are influenced, and how individuals and nations are affected. The book provides a solid foundation for engaging with these critical issues, focusing on these fields' historical evolution and current state.

Financial sector linkages have increased continuously in the Caribbean with cross border capital flows and financial conglomerates dominating the financial system. While the greater interconnectedness can heighten systemic risks and likelihood of contagion, it can have positive impacts provided the regional authorities take steps to prevent the systemic risk. In this context, financial sector reform measures aimed at bolstering and harmonizing prudential regulations in line with international best practices, the strengthening and enhancement of financial sector supervision to include cross border linkages through consolidated supervision, increased cooperation across supervisors in the region, and the establishment of deposit insurance and crisis resolution frameworks will be critical to maintain financial sector stability and minimize the repercussions of any negative shocks.

Imaginary friend Budo narrates this heartwarming story of love, loyalty, and the power of the imagination—the perfect read for anyone who has ever had a friend . . . real or otherwise Budo is lucky as imaginary friends go. He's been alive for more than five years, which is positively ancient in the world of imaginary friends. But Budo feels his age, and thinks constantly of the day when eight-year-old Max Delaney will stop believing in him. When that happens, Budo will disappear. Max is different from other children. Some people say that he has Asperger's Syndrome, but most just say he's "on the spectrum." None of this matters to Budo, who loves Max and is charged with protecting him from the class bully, from awkward situations in the cafeteria, and even in the bathroom stalls. But he can't protect Max from Mrs. Patterson, the woman who works with Max in the Learning Center and who believes that she alone is qualified to care for this young boy. When Mrs. Patterson does the unthinkable and kidnaps Max, it is up to Budo and a team of imaginary friends to save him—and Budo must ultimately decide which is more important: Max's happiness or Budo's very existence. Narrated by Budo, a character with a unique ability to have a foot in many worlds—imaginary, real, child, and adult— Memoirs of an Imaginary Friend touches on the truths of life, love, and friendship as it races to a heartwarming . . . and heartbreaking conclusion.

English description: What did the early Greek philosophers think about animals and their lives? How did they view plants? And, ultimately, what type of relationship did they envisage between all sorts of living beings? On these topics there is evidence of a prolonged investigation by several Presocratics. However, scholarship has paid little attention to these issues and to the surprisingly 'modern' development they received in Presocratics' doctrines. This book fills this lacuna through a detailed (and largely unprecedented) analysis of the extant evidence. The volume also includes the first extensive collection of the ancient sources pertaining to living beings and life in early Greek philosophy, organized chronologically and thematically. German description: Was dachten die fruhen Griechischen Philosophen uber das Leben der Tiere? Welches Bild machten sie sich von Pflanzen? Und schliesslich, welche Vorstellung hatten sie davon, wie alles Leben untereinander zusammenhangt? Es lassen sich hierzu viele Nachweise in Traktaten der Prasokratiker finden, jedoch haben bisherige wissenschaftliche Untersuchungen diesem Thema wenig Aufmerksamkeit geschenkt. Diese Lucke wird vom vorliegenden Band mit detaillierten, textnahen Analysen der mannigfaltigen Nachweise gefullt. Zusatzlich wartet das Werk mit einer beispiellosen Sammlung der prasokratischen Quellen auf, welche sich mit der Philosophie des Lebens und der Lebewesen auseinandersetzen, sowohl chronologisch als auch thematisch gruppiert.

Marcella Rowek explores the paradigm of Deep Democracy and its potential to transform polarized conflicts in the context of the current refugee situation in Europe. Her approach to peace work and research is embedded in the Innsbruck School of Peace Studies’ philosophy of Transrational Peaces and Lederach’s Elicitive Conflict Transformation. At the heart of a deeply democratic attitude is the idea that all perspectives, experiences, feelings, body sensations and awareness levels of the conflicting parties have to be acknowledged and consciously worked with. Only then conflict transformation processes can unfold. This is linked to a systemic and transpersonal perspective, which assumes that not a single person, event or group triggers a conflict, but that it is systemically co-created.