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Maxim India - Special Issue - November 2014.pdf

Is it the embodiment of value? A token of debt? The instantiation of a relationship between ruler and ruled?

The story depends on how central we regard coins and banknotes to be. Coins themselves have no single point of origin, having developed independently in the Mediterranean, India and China. Banknotes developed both as a way to avoid carrying inordinate quantities of metal in China, and later Sweden , and also as a signal of the rise of private banking as in Britain. Cowries, an established currency in West and Central Africa, represented connections to India, and to China where the cowrie still appears in written characters relating to wealth.


The fact that a lot of Bolivian silver made its way to China reveals another enduring connection. The Citi Money Gallery takes on a gargantuan task. Thematic, rather than regional, it strives for global coverage.

But money is a slippery theme. Grasping the history of monetary objects means appreciating not only their economic, but also their political, religious and aesthetic dimensions. And money embodies a complex relationship between material and abstract value.

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The gallery weaves together these different aspects. Each period is also a theme — beginnings, religion, political authority, and so on. Meanwhile, left and right walls counterpose complementary viewpoints: that of the issuers of currency, and that of its users.

And, right at the centre of the gallery, the other side of money-making. Two heaps of coins remind us of the long history of forgery. In both instances, forgeries have been sustained by a degree of everyday acceptance.

This is a gallery that avoids easy answers. Money has multiple origins and multiple uses. Sometimes as in the case of coins , its inception represents a political act. On the positive side, many governments have used this approach as a policy option for pursuing objectives such as food security, disaster preparedness, and famine early warning systems. They are considered an alternative to trade-based policies for food security Porter ; Timmer ; Nakuja and Kerr b that are often affected by extreme climate events and natural hazards.

Governments have, at different points in time, usually held some form of emergency food reserves or stocks of key staple commodities Porter ; Nakuja and Kerr b. Under global climate change scenarios, food security is at risk and volatile Porter et al. The expected increase in climate extremes has generated anticipatory actions from governments, including a new push for EFR policy adoption. Triggered by recent disasters and climate change concerns, some governments have been trying to develop more robust and resilient food systems Fan and Brzeska ; Porter et al.

For many countries in Asia, this means the renewed adoption of EFR. Unfortunately, we argue that this is not well understood in climate change adaptation studies as well as contemporary disaster studies.

Structural basis of the non-coding RNA RsmZ acting as a protein sponge

Policymakers have been aware of the susceptibility of the region to natural hazards and the possibility of food shortages. AFSIS not only monitors and analyzes production, import, export, inventory stock, price, food security ratio, and self-sufficiency ratio for these commodities but also provides data on losses from both floods and droughts in every member state Lassa et al.

This article argues that EFR can function as a means of disaster risk reduction, including climate change adaptation, and aims to understand why governments in Asia are readopting emergency food reserves as national policies, with a focus on Indonesia, the Philippines, and Malaysia. We also explore how disasters and climate change strengthen or weaken government narratives in support of emergency food reserves.

This policy anticipates future uncertainties in the market as well as on farms. Because future climate is very likely to be more uncertain, it is often difficult to specify the most optimal food stock quantity to be held at government warehouses. As a result, governments are often trapped in either risk-averse or risk-taking behavior.

The former suggests a more ambitious food reserve but it may involve higher cost and investment. The latter may imply a more efficient investment with some risk involved because the market does not always perfectly provide the needed quantity at all times, especially in developing countries.

During the Cold War period, the New York State Civil Defense in the s often prescribed 4-day rations of home food reserves for adults and children.

During this period some local governments in the United States even prescribed a detailed list of household food stuffs ranging from types of fruits, milk, cereals, and canned food, among others Federal Civil Defense Administrator After the first Green Revolution and the end of the Cold War, international trade proved to be more sufficient than anticipated in guaranteeing a steady supply of food at a lower cost across the world.

As a result, the EFR narrative shifted and decreased in importance.

Since then maintaining food stockpiles has been equated with inefficient practice, monetary losses related to food spoilage, loss and wastage of food, and deemed distortionary to global trade and markets Bigman and Reutlinger Responding to the global food crisis due to climate uncertainty related to El-Nino that triggered famines in many parts of the world in the early s Sen , some of the participants of the first World Food Conference in nonetheless questioned whether an international emergency food stock was necessary.

Hawkes showed how top food exporters of the time, such as the United States and Canada, had a strong influence on shaping the food stock debate.

Revisiting Emergency Food Reserve Policy and Practice under Disaster and Extreme Climate Events

In their view, large EFR and food stockpiles could depress farm prices. The two countries also opposed the idea of having a relatively small emergency reserve of , tons, stored somewhere near potential disaster areas to provide global rapid relief. While some countries continued to maintain national food stocks of important commodities, the overall trend shifted towards trade-based policies and international trade to meet domestic food supply deficits Bigman and Reutlinger This led most countries to gradually reduce public food stockpiles and stockpiling practices from the s onwards Massell , including food stockpiles for emergency preparedness objectives AFSIS ; APTERR Most countries in Asia have a history of emergency food stocks and public stockpiling of food, particularly rice and other staples Timmer , Some of these practices can be traced back to colonial times, while some were implemented after independence to address certain challenges and needs in the domestic food economy Vu However, in keeping with global trends of neoliberalism and attendant structural changes, food programs in Asia were also cut back and reduced in scope as part of the liberalization and reform processes that swept the region in the s Orford It was also during this period that food self-sufficiency policies of which stockpiling programs are an important aspect were frowned upon and pushed aside in favor of more trade-based policies.

There is always some degree of price volatility in the global food market. Many governments, especially those dependent on imports, are continuously concerned with food price volatility and its unpredictability.How could we forget smokin Bips?

Space provides contrast. If we had to take you out on a date, what would you want it to be like?

But you should know that these lms have devoted fans all over. Apart from the brilliant mix of content that makes what it is, Im struck with the realisation that this magazine has changed mindsets in a way that boldness is now commonplace.

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