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Korea Herald
a day ago
- Business
- Korea Herald
[Jeffrey Frankel] Foreign aid, now missed
'Don't it always seem to go, that you don't know what you've got 'til it's gone.' When Joni Mitchell sang that line in 1970, she was lamenting the destruction of the environment, but the sentiment applies to many issues. Today, we can add official development assistance to the list. For some 80 years, the United States spent more on humanitarian assistance, economic development programs and other types of foreign aid than any other government. In the 2023 fiscal year, the US government disbursed $72 billion, with much more coming from private NGOs and individual citizens. But the US does not spend the most as a share of its income: by that measure, the US contributes just 0.24 percent — a quarter of what northern European countries give — putting it in 24th place globally. Moreover, foreign aid accounts for just 1 percent of total US government spending — a far cry from the 25 percent many Americans believe the US allocates. Many Americans, including some prominent scholars, believe that foreign aid has a negligible impact, with some, such as Dambisa Moyo and William Easterly, arguing that it does more harm than good. Critics highlight examples of misguided aid programs falling prey to mismanagement, government overreach, or corruption, including Vietnam in the 1960s, Zaire in the 1980s and Afghanistan in the 2000s. While some economists, such as Paul Collier, insist that foreign aid is useful — especially when certain conditions are met — the dominant message seems to be that foreign aid is suspect. But now foreign aid is gone, or at least going fast. Soon after US President Donald Trump returned to the White House, his administration — and, in particular, his unelected billionaire crony Elon Musk — began frantically dismantling the US Agency for International Development. Almost immediately, reports began flooding in: what was being defunded were often life-saving, high-return projects. Since George W. Bush launched the President's Emergency Plan for AIDS Relief in 2003, the program has saved millions of lives from HIV and AIDS, especially in Africa. The President's Malaria Initiative has prevented two billion cases of malaria over the last 20 years, and halved the mortality rate. Gavi, the Vaccine Alliance, which receives US government support, has vaccinated more than a billion children against measles, diphtheria, tetanus, whooping cough and other potentially fatal diseases, preventing an estimated 19 million deaths. Polio has been eliminated in all but two countries, and smallpox has been eliminated everywhere. These efforts have contributed to a steep decline in child mortality globally: today, 4 percent of children die before their fifth birthday, compared to 40 percent a century ago. Foreign aid also enabled the development and diffusion of improved crop varieties, as well as synthetic fertilizers, new pesticides and modern irrigation, in the second half of the twentieth century. This so-called Green Revolution in agriculture doubled cereal crop yields in Asia; enabled many countries, such as India, to become self-sufficient in food; and raised incomes in many developing economies. This contributed to a reduction in infant mortality by 2-5 percentage points, from a baseline of 18 percent, in the developing world. The US Marshall Plan achieved spectacular success in helping European economies recover from World War II, and in laying the groundwork for 80 years of relative global peace and prosperity. More recently, foreign aid has played a pivotal role in enabling Ukraine to withstand the worst attack on a European country's sovereign territory in the postwar era. The US reaps massive benefits from the aid it provides. One need only recall the COVID-19 pandemic to see that participation in global health initiatives is not pure charity, especially when it comes to infectious diseases like Ebola, HIV/AIDS and Tuberculosis. More fundamentally, international assistance has been a pillar of US soft power. And that soft power has been at least as important as military might in sustaining US global leadership since the Cold War. But now the Trump administration is assiduously undermining it — to China's benefit, no doubt. The effect of foreign aid on economic growth is difficult to quantify because so many other causal factors are involved. Moreover, much of US aid is designed to advance political or military objectives. The top recipients of US foreign aid, after Ukraine, are Israel, Jordan and Egypt. Nonetheless, we know that reduced morbidity and mortality, and improved nutrition, can boost an economy's performance. It thus stands to reason that foreign aid is a contributor to development, even if not the most important one. The US undoubtedly benefits from having more developed, higher-performing trading and commercial partners. Why, then, has the pessimistic view of foreign aid dominated public discourse for so long? One explanation is that the pessimistic view of everything has prevailed for years. A 2018 survey showed that a substantial majority of people in rich countries believed that the child mortality rate in poor countries had either risen or stayed the same over the previous 20 years; in fact, child mortality had been halved. And a whopping 80 percent of people in rich countries believed that the share of people in extreme poverty had either plateaued or risen, even though it fell steeply from 1990 to 2013. If people are so wrong about these trends, how can they possibly know about the role foreign aid played in driving them? Of course, foreign aid has its flaws and limitations, including instances of inefficiency, mismanagement, or unintended side effects. But whatever the limitations of foreign aid in the past, it is clear that Trump's destructive approach is making things far worse. Jeffrey Frankel is a professor of capital formation and growth at Harvard University. The views expressed here are the writer's own. — Ed.
Time of India
2 days ago
- Entertainment
- Time of India
Who is Princess Leonor, rumored to have been rejected by footballer Gavi
It's not every day we get to see a royal princess getting rejected! Seems like that almost impossible has *allegedly* happened in the case of Princess Leonor! Read on to know more. Who is Prince Leonor? Princess Leonor of Asturias, born on October 31, 2005, is the eldest daughter of King Felipe VI and Queen Letizia of Spain. As the heir presumptive to the Spanish throne, she holds the title of Princess of Asturias, among others. Leonor has been educated in various prestigious institutions, including UWC Atlantic College in Wales, and is currently undergoing military training at Spain's General Military Academy and Naval Military Academy. Her public appearances often attract significant media attention, and she is known for her poised demeanor and commitment to her royal duties. Despite her high-profile status, Leonor maintains a relatively private personal life, with few details about her relationships or personal interests publicly available. The Gavi romance rumors: a timeline of events The speculation linking Princess Leonor to Spanish footballer Gavi (Pablo Páez Gaviria) began in 2022. After Spain's 7-0 victory over Costa Rica in the 2022 FIFA World Cup, rumors circulated that King Felipe VI had requested a signed jersey from Gavi for his daughter, fueling speculation about a potential relationship. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Esta nueva alarma con cámara es casi regalada en Puente Alto (ver precio) Verisure Alarmas Leer más Undo Further fueling the rumors, during a visit to Zarzuela Palace, a brief handshake between Gavi and Leonor was captured, leading to increased media attention and public curiosity about their relationship. Gavi's stance: prioritizing career and personal Life Despite the growing rumors, Gavi has remained focused on his football career and personal life. Reports suggest that he declined a request from King Felipe VI to provide a personalized gesture for Princess Leonor, choosing instead to continue his relationship with Ana Pelayo, a 22-year-old influencer and student from Seville . Gavi's decision to prioritize his personal relationship over potential royal connections has been met with public support, with fans appreciating his commitment to authenticity and personal choice. Although too much has already been speculated and the rumors linking Princess Leonor and Gavi have captured public attention, there is no confirmed evidence of a romantic relationship between the two. Both individuals continue to focus on their respective paths—Leonor on her royal duties and education, and Gavi on his football career and personal life. As there hasn't been any official statement from either end, for now, the narrative remains entirely speculative. Prince Harry & Meghan Shut Down Split Rumors With Beyoncé Date Night PDA
Time of India
3 days ago
- Entertainment
- Time of India
He said no to the King! Football star shocks fans by choosing girlfriend over Spanish Princess
The rising star had reportedly declined king request for personalized gift for princess. Spain and Barcelona's midfielder and rising football star Gavi is in the news these days. After Spain's astonishing victory at the Euro Cup against England in 2024, the events that followed attracted media attention and fueled social media speculations. King Felipe VI of Spain celebrated the team, especially football heartthrob Gavi's success, by hosting an event for the whole team at Zarzuela Palace. In this larger-than-life event, one of the attendees was Princess Leonor of Spain, whose warm handshake with the famous midfielder has left social media talking about the duo. Media reports state that Princess Leonor is reportedly interested in rising football star Gavi. Even rumours suggest that King Felipe had once requested a signed Spanish jersey in a youth size as a gift for his daughter, Princess Leonor. Reports also suggest that friends had noticed that Princess Leonor had a folder of Gavi's photos on display in her school folder at Atlantic College, Wales. King Felipe VI of Spain hosted an event for the whole team at Zarzuela Palace. Declining the King's request Reports suggest that the rising football star had reportedly declined the King's request for a personalized gift for his daughter, Princess Leonor, during their visit at the King's celebration party for Spain's national victory against England in the Euro Cup. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo Ana Pelayo : The Dream Breaker Ana Pelayo turned out to be a dream breaker for the Princess of Spain. The 22-year-old student is reportedly dating Gavi. It was further confirmed when, after Barcelona's victory in winning the La Liga Cup, Ana Pelayo was seen by his side. Reportedly, both clicked selfies and Gavi introduced her to his inner circle. Ana Pelayo has 270k Instagram followers on her Insta account, where she regularly posts content related to fashion and lifestyle. But she has kept her private life a mystery. However, post-match celebrations have confirmed that the two youngsters are dating each other. Barcelona star Gavi has gone public with his girlfriend Ana Pelayo, just as rumors of a royal crush from Princess Leonor resurfaced. Gavi silences During this entire event, Gavi has remained silent and has not issued any public statement or cryptic social media post. His actions have spoken louder than his words. By displaying his affection towards Ana Pelayo in the post-match celebration, he confirmed their relationship. Ana Pelayo has been instrumental during his knee injury, which kept him out of the field for 10 months. Reportedly, during this time, they have become closer than ever. With these actions, Gavi seems to point toward a life built on his own terms — not fairytales, not headlines, and certainly not for royal status. One step to a healthier you—join Times Health+ Yoga and feel the change
The Hindu
3 days ago
- Sport
- The Hindu
Isco back in Spain squad for Nations League semi against France
Midfielders Gavi and Isco were recalled by Spain manager Luis de la Fuente on Monday (May 26, 2025) in his squad for next month's Nations League semi-final against France. Barcelona's Gavi, 20, last played for Spain in November 2023 before being sidelined for several months after tearing his knee ligaments. Gavi, capped 27 times by Spain, has made 42 appearances for Barcelona this season, winning LaLiga, the Copa del Rey and Supercup with the Catalan club. Isco returned to the Spain squad after a six-year absence. The 33-year-old former Real Madrid player has been rewarded for a fine season with Real Betis in which he scored 12 goals and provided 10 assists in 32 appearances and helped them reach Wednesday's Conference League final. Spain play France on June 5 in the German city of Stuttgart. Squad Goalkeepers: Unai Simon, David Raya, Alex Remiro Defenders: Pedro Porro, Oscar Mingueza, Robin Le Normand, Pau Cubarsi, Dean Huijsen, Alejandro Grimaldo, Marc Cucurella, Dani Vivian Midfielders: Martin Zubimendi, Fabian Ruiz, Mikel Merino, Alex Baena, Pedri, Fermin Lopez, Gavi, Isco Forwards: Alvaro Morata, Lamine Yamal, Nico Williams, Yeremy Pino, Dani Olmo, Samu Aghehowa, Mikel Oyarzabal. (Reporting by Pearl Josephine Nazare in Bengaluru, editing by Ed Osmond)
CNA
4 days ago
- Sport
- CNA
Gavi, Isco back in Spain squad for Nations League semi v France
Midfielders Gavi and Isco were recalled by Spain manager Luis de la Fuente on Monday in his squad for next month's Nations League semi-final against France. Barcelona's Gavi, 20, last played for Spain in November 2023 before being sidelined for several months after tearing his knee ligaments. Gavi, capped 27 times by Spain, has made 42 appearances for Barcelona this season, winning LaLiga, the Copa del Rey and Supercup with the Catalan club. Isco returned to the Spain squad after a six-year absence. The 33-year-old former Real Madrid player has been rewarded for a fine season with Real Betis in which he scored 12 goals and provided 10 assists in 32 appearances and helped them reach Wednesday's Conference League final. Spain play France on June 5 in the German city of Stuttgart. SQUAD Goalkeepers: Unai Simon, David Raya, Alex Remiro Defenders: Pedro Porro, Oscar Mingueza, Robin Le Normand, Pau Cubarsi, Dean Huijsen, Alejandro Grimaldo, Marc Cucurella, Dani Vivian
