The calm before the storm? That question dominated the stage at the
seventh annual conference on emerging markets finance, cosponsored
by the World Bank and the Brookings Institution and held at Brookings in
late April 2005.
At the time of the conference, it had been a little less than eight years since
the onset of the Asian financial crisis, an event that had depression-like effects
throughout much of Asia and, for a time, seemed to threaten global economic
Before turning to a description of effluent taxes, it is useful to briefly describe the status
quo approach to regulation: command-and-control effluent reduction requirements.
centerpiece of U.S. water quality regulation is the National Pollutant Discharge Elimination
System (NPDES) permit program. The NPDES program requires polluters to obtain permits, or
licenses, to discharge. These permits specify pollution amounts that can be legally discharged.
As recent weather events have illustrated, coastal
areas in both developing and more industrialized
economies face a range of risks related to climate
change (IPCC 2007a). Anticipated risks include an
accelerated rise in sea level of up to 0.6 meters or
more by 2100, a further rise in sea surface tempera-
tures by up to 3° C, an intensification of tropical
and extra tropical cyclones, larger extreme waves
and storm surges, altered precipitation and run-
off, and ocean acidification (Nicholls et al. 2007).
hazard a guess/opinion
- make a guess I would not want to hazard a guess as to the age of the woman.
head above water
- out of difficulty, clear of trouble Although he works very hard he is not able to keep his head above water financially.
head and shoulders above (someone or something)
- clearly superior to someone or something I believe that our team is head and shoulders above the other teams in the league.
The Global Financial Centres Index is a
barometer , tracking the shifts of
competitiveness in global ﬁnancial centres, and
over the last fewyears it has shown that
Canada’ s economy isweathering the storm.W
entered the downturn in better condition than
many, becausewhen timeswere goodwe
managed surplus budgets and kept down the
national debt. Today Canada has the lowest ne
debt to GDP ratio in the G-7.
Forbesmagazine ranks Canada as the best
country in theworld inwhich to do business.