The world economy is experiencing a very strong but uneven recovery, with many emerging market and developing economies facing obstacles to vaccination. The global outlook remains uncertain, with major risks around the path of the pandemic and the possibility of financial stress amid large debt loads. Policy makers face a difficult balancing act as they seek to nurture the recovery while safeguarding price stability and fiscal sustainability. A comprehensive set of policies will be required to promote a strong recovery that mitigates inequality and enhances environmental sustainability, ultimately putting economies on a path of green, resilient, and inclusive development. Prominent among the necessary policies are efforts to lower trade costs so that trade can once again become a robust engine of growth. This year marks the 30th anniversary of the Global Economic Prospects. The Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). Each edition includes analytical pieces on topical policy challenges faced by these economies.

Attempting to provide a fully-fledged theory of enclaves and exclaves, A Theory of Enclaves covers a wide scope of regions and territories throughout the world and satisfies the need for a systematic view on enclaves. This book covers 282 enclaves, with a combined population total of approximately three million, but the importance of enclaves is much higher because of their specific status and issues raised for both the mainland states and the surrounding states: Gibraltar was disproportionately large for British-Spanish relations throughout the last three centuries, Kaliningrad managed to cause a major crisis in the EU-Russian relations in 2002-03, Tiny Ceuta and Melilla have caused tensions in Spanish-Moroccan relations for more than three centuries and have recently become visible as conflict points at the EU level, German Buesingen was subject to several complex international treaties between Germany and Switzerland. Rather than viewing each enclave as a unique case, or even as an anomaly, A Theory of Enclaves provides a systematic investigation of enclave-related political and economic issues. Rich on maps and illustrations, A Theory of Enclaves strives to comprise three facets of enclaves' existence: political, economic, and social life.

A landmark comparative history of Europe and China that examines why the Industrial Revolution emerged in the West The Great Divergence sheds light on one of the great questions of history: Why did sustained industrial growth begin in Northwest Europe? Historian Kenneth Pomeranz shows that as recently as 1750, life expectancy, consumption, and product and factor markets were comparable in Europe and East Asia. Moreover, key regions in China and Japan were no worse off ecologically than those in Western Europe, with each region facing corresponding shortages of land-intensive products. Pomeranz’s comparative lens reveals the two critical factors resulting in Europe's nineteenth-century divergence—the fortunate location of coal and access to trade with the New World. As East Asia’s economy stagnated, Europe narrowly escaped the same fate largely due to favorable resource stocks from underground and overseas. This Princeton Classics edition includes a preface from the author and makes a powerful historical work available to new readers.