Ethiopians Should Sacrifice

በአንድ ዘርፍ፣ በአንድ ግለሰብ፣ በተወሰነ ቡድንና በተወሰነ አጋጣሚ በሚደረጉ እንቅስቃሴዎች ብቻ አገር አይቀናም፣ ሕዝብ አይበለፅግም፣ ነፃነትና ሉአላዊነት አይረጋገጥም፡፡ ሁሉም በየሙያውና በየዘርፉ የድርሻውን ሲጫወት እንጂ፡፡

ወታደሩ የአገርን ዳር ድንበርና ሉአላዊነት ለመጠበቅ መስዋዕትነት ይከፍላል፡፡ የድርሻውን ይጫወታል፡፡ የአገር መከላከያ ሰራዊት ብቻ በሚከፍለው መስዋዕትነት ግን አገር አይቆምም፡፡

ምሁሩ እየተመራመረ፣ እየተማረና እያስተማረ አገርን ያሳድጋል፡፡ የመብት፣ የልማት፣ የሰላም መንገድን ያሳያል፡፡ ምሁራዊ ዋጋና መስዋዕትነት ይከፍላል፡፡ በምሁር ብቻ ግን አገር አይቀናም፡፡

መሪዎች ይመራሉ፣ መንገድ ያሳያሉ፣ ያስተባብራሉ፣ ፖሊሲ ይነድፋሉ፡፡ በዚህም ለአገር ያላቸውን ሃላፊነት ያረጋግጣሉ፡፡ መስዋዕትነት ይከፍላሉ፡፡ በመሪ ብቻ ግን የሚቀና አገር የለም፡፡

ፖሊስ ወንጀልን ይከላከላል፣ ሰላምና መረጋጋትን ይፈጥራል፣ ከወንጀለኞች ጋር ሲዋጋም መስዋዕትነት ይከፍላል፡፡ በፖሊስ ብቻ የሚቀና አገር ግን የለም፡፡

ጋዜጠኛውም መረጃ ይሰበስባል፣ ያሰራጫል፣ ሕዝብ ያሳውቃል፣ ያስተምራል፡፡ አስፈላጊ መስዋዕትነት እየከፈለም አገርን ያሳድጋል፡፡ በጋዜጠኛ ብቻ ግን የሚቀና አገር የለም፡፡

ባለሃብቱም፣ ነጋዴውም ይሰራል፣ ይለፋል፣ ያለማል፣ ሃብት ይፈጥራል፡፡ መስዋዕትነት ይከፍላል፣ አገር ያበለፅጋል፡፡ በባለሃብቱ ብቻ የሚቆም አገር ግን የለም፡፡

ሰርቶ አደሩ ሕዝብም ይለፋል፣ ላቡን ያንጠፈጥፋል፣ ዋጋ ይከፍላል፡፡ አገሩን ያለማል፣ ያበለፅጋል፡፡ በወዝአደሩ ብቻ ግን አገር አይለማም፡፡

አርሶ አደሩ ያመርታል፣ ይመግባል፣ ያለማል፣ ይከላከላል፣ መስዋዕትነት ይከፍላል፣ አገሩን ያሳድጋል፡፡ በአርሶ አደር ብቻ ግን አገር አያድግም፡፡

አርቲስቱም፣ ስፖርተኛውም፣ ዲፕሎማቱም፣ መካኒኩም፣ ፓይለቱም፣ ሾፌሩም ሁሉም በየሙያው በሚያደርገው አስተዋፅኦና በሚከፍለው መስዋዕትነት አገር ያድጋል ይበለፅጋል፡፡ በተወሰነ ዘርፍ ብቻ አገር አያድግም፡፡

ሁሉም በሙያው ይረባረብ፣ አገሩን ያሳድግ፣ ዋጋና መስዋዕትነት ይክፈል፡፡ ያኔ ነው ኢትዮጵያ የበለፀገችና የጠነከረች ጠንካራ የምትሆነው፡፡

በሙያችን አስተዋፅኦ ለማበርከት ሙያችን የሚጠይቀውን እውቀትና ብቃት ዋጋና መስዋዕትነት በሚገባ ጠንቅቀን ልንገነዘብ ይገባል፡፡ እሰቲ ስለራሳችን ሙያ እናውራ፡፡ መገናኛ ብዙሃን ነን፡፡ ፕሬስ ነን፣ ጋዜጠኞች ነን፣ ሕዝብን የማሳወቅና የማስተማር ኃላፊነት አለብን፡፡

ስናሳውቅና ስናስተምር ግን ሁሉም ይወደናል ማለት አይደለም፡፡ ሕዝብ የማወቅ መብት አለው ብሎ የሚያምን ቀናና ንጹህ ወገን በስራችን ይወደናል፡፡ የጋዜጠኛነት ሙያን ያከብራል፡፡ ለፕሬስ ያለው ምኞትና እንቅስቃሴም “እደጉ፤ ተመንደጉ” የሚል አዎንታዊ መንፈስ ይሆናል፡፡ ግን ደግሞ ከሕዝብ መካከል ማወቅና መማር የማይፈልግ ወገንም አለ፡፡ የማይፈልግ ብቻ ሳይሆን የሚያስተምርና የሚያሳውቅ ጋዜጠኛን ለማጥፋት የሚንቀሳቀስ አለ፡፡ ይህ ማለትም ፕሬስ ወዳጅ እንዳለው ሁሉ ጠላትም አለው ማለት ነው፡፡

የፕሬስ ጠላትነት በሁለት ይፈረጃል፡፡ ጋዜጠኛን በገንዘብ መደለል ፀረ ፕሬስ ነጻነት ነው፡፡ ጋዜጠኛ መረጃ እንዳያገኝ ማድረግም ፀረ ፕሬስ ነፃነት ነው፡፡ ጋዜጠኛን መከፋፈልም እንደዚሁ፡፡

እንደዚህ ዓይነት የፕሬስ ጠላትነት የሚወገዝ ነው፡፡ ሆኖም የሕብረተሰቡ ግንዛቤ ባደገ ቁጥር፣ ጊዜ እየረዘመ ሲሄድ ይፈታል፣ ይወገዳል የሚል ተስፋ ቢኖርም ብዙ መጯጯህ ሊያስከትል ይችላል፡፡

የፕሬስ ጠላትነት ወደ ሃይል፣ ድብደባና ግድያ ሲያመራ ግን የተመረጠው የወንጀል መንገድ ስለሆነ ሊከተል የሚገባው ማውገዝ ብቻ ሳይሆን በሕግ ቁጥጥር ስር ማዋልና ለፍርድ ተገዥ ማድረግም ይጠበቃል፡፡

በቅርቡ በፕሬስ ላይ እየተደረገ ያለው የወንጀል ተግባርም ፍፃሜው ወደ ሕግ ማቅረብና ተገቢ ፍርድ መስጠት ይሆናል ብለን እናምናለን፡፡ ወርዋሪን ብቻ ሳይሆን አስወርዋሪን፣ ተላላኪውን ብቻ ሳይሆን ላኪውን፣ ገንዘብ ተቀባዩን ብቻ ሳይሆን ገንዘብ ከፋዩ ለፍርድ እንደሚቀርቡ እምነታችን ነው፡፡ ከዚህ በላይ ፕሬስ እርካታ አይኖረውም፡፡

ይህ በወንጀለኞች ላይ መፈጸም ያለበት ጉዳይ ሲሆን ራሱ ፕሬስ ግን ተጎዳሁ፣ ተመታሁ ብሎ ለአገር እድገትና ልማት መክፈል ያለበትን መስዋዕትነት ከመክፈል ወደኋላ ማለት የለበትም፡፡

ሁሉም በሙያው መስዋዕትነት ይክፈል ስንል እኛ የዚህ ጋዜጣ ባለድርሻም መስዋዕትነት ለመክፈል ዝግጁ ነን ማለታችን ነው፡፡ መታሠር፣ መደብደብ ከመስዋዕትነት ዝግጁነት ወደ ኋላ አያሸሸንም፡፡ በጭራሽ” መፈክራችን ለኢትዮጵያ ሕዝብ፣ ለዚህ ደግና ቅን ሕዝብ ያልተሰዋን ለማንስ እንሰዋለን ነው፡፡ በበቂ ሁኔታ ባለመስራታችን በምንከፍለው መስዋዕትነት በጭራሽ ቅር አይለንም፡፡

ይህ ለማንም ፀረ ፕሬስና ለማንም ወንጀለኛ ግልፅ ሊሆን ይገባል፡፡ “እንፅፋለን ገና” ብለናል፡፡ መስዋዕትነት እንከፍላለን ገና ማለታችን ነው፡፡ መፈክራችንም ነፃ ፕሬስ! ነፃ ሃሳብ! ነፃ መንፈስ ነው!!

Asians Winning The Money Game?

Since the 1997-1998 Asian financial crises, monetary authorities in emerging markets in East Asia have more than doubled their stockpiles of foreign exchange reserves; by the end of May 2002, they held $845 billion, or 38% of the world total. Of these countries, China, Taiwan, Hong Kong, South Korea, and Singapore rank just behind Japan as the world’s biggest holders of foreign exchange reserves–together those five countries hold reserves totaling nearly $700 billion.

There is a growing debate about the need to hold so many reserves. Some critics point out that holding a lot of reserves is costly. Reserves held in U.S. Treasuries, for example, earn a modest return, far below these countries’ own cost of borrowing either in local currency or in dollars. Why hold cash in the bank and pay high interest on outstanding liabilities? Critics also note that the yield on reserves is much lower than the potential return they could earn by using those reserves to make real investments in the economy, such as building roads, bridges, and schools.

Those who support holding large reserve balances argue that the cost of doing so is small compared to the economic consequences of a sharp depreciation in the value of the currency that is often associated with financial crises in emerging markets. A devaluation of the currency raises a country’s costs of paying back debt denominated in foreign currency as well as its costs of imported goods, and it also raises the spectre of inflation. With a large stockpile of foreign exchange reserves, a country’s monetary authority can buy up its currency in the foreign capital markets, which helps to uphold its value. By having its own ammunition to defend its currency in a crisis, a country with large holdings of reserves also avoids being shut out of international capital markets due to concerns that the government or the private sector will default on foreign debt payments. Therefore, these proponents argue, holding large reserve stockpiles is prudent policy for those occasions when defending the value of the currency makes sense.

In this Economic Letter, we report some of the factors that influence the decision to hold foreign exchange reserves in developing countries based on our recent research (Aizenman and Marion 2002a and 2002b). We also explore why these holdings surged in East Asia after the 1997 crises.

Trends in reserve holdings by emerging markets

Several factors may explain how much foreign exchange reserves a country wants to hold. One factor is related to the size of international financial transactions that occur there; that is, reserves holdings are likely to increase both with the size of the country’s population and with its standard of living. Another factor is related to the volatility of international receipts and payments, insofar as reserves are intended to help cushion the economy; that is, reserve holdings are likely to increase with more volatility in a country’s export receipts. A third factor is vulnerability to external shocks; reserve holdings are likely to increase with a country’s average propensity to import, which is a measure of the economy’s openness and vulnerability to external shocks. Finally, a country’s tolerance for greater exchange rate flexibility should reduce its demand for reserves, because its central bank would not need a large reserve stockpile to manage a fixed exchange rate; therefore, reserve holdings are likely to be lower the more variable the country’s exchange rate is.

We conducted statistical analyses using a panel of data consisting of 122 developing countries between 1980 and 1996–that is, before the Asian financial crises–and found strong correlations between these factors and reserve holdings. The scale factors–population size and real GDP per capita–were positive and highly significant. The volatility of real export receipts and the vulnerability to external shocks measured by openness also were positive and highly significant. Greater exchange rate variability was associated with significantly reduced reserve holdings. These five variables account for between 70% and 90% of the variation in actual reserve holdings depending on the estimation specification.

Our study (Aizenman and Marion 2002a) extended this analysis by adding two political measures that may lower the demand for reserves, namely, political instability and political corruption, in the sense that they act as a tax on the return to reserves. Because data on these measures are available for only a limited number of countries, the sample we examined was smaller. As a proxy for political instability, we used a measure of the probability that the government’s leadership would change by constitutional means. For data on political corruption, we used a corruption index from Tanzi and Davoodi (1997). We confirmed that an increase in an index of political corruption significantly reduces reserve holdings, as does an increase in the probability of a government leadership change by constitutional means.

Next we examined whether the model with these specifications was successful at predicting reserve holdings during and after the Asian financial crises, that is, from 1997 to 1999. The results suggest that countries indeed have changed their behavior in terms of holding foreign exchange reserves. For example, in the case of Korea, the model over-predicts its reserve holdings for 1997, the year of the crisis, but it substantially under-predicts reserve holdings for both 1998 and 1999. These results suggest that, during and immediately after the crisis, Korea had limited access to global markets and could not immediately adjust its stock to the higher level it chose to maintain in 1998 and 1999. For the other emerging Asian economies, the underprediction of reserves over this period is less substantial but still significant (see Aizenman and Marion 2002a for full details). It is interesting to note that the model over-predicts Malaysian reserve holdings in all three years, suggesting the country may have faced a trade-off between being willing to adopt capital controls and being willing to hold international reserves. Because Malaysia chose to impose capital controls during the financial crisis, it reduced its effective integration with the global capital markets and its demand for international reserves.

Why have East Asian markets increased their reserves?

As the foregoing showed, the standard set of factors that affects the demand for foreign exchange reserves does not account for the very large buildup that has occurred in many emerging markets in East Asia. Therefore, we examine the possibility that the buildup may represent “precautionary” holdings, and we find two situations that can give rise to increased demand for such holdings (Aizenman and Marion 2002a).

The first is the government’s desire to “smooth consumption”–that is, to spread out over time the costs of shocks, such as sudden outflows of international capital–when it faces difficulty raising funds either through international capital markets (because investors perceive a high risk that the government or the private sector will default) or through domestic tax collection. The model also helps us understand why some developing countries have not chosen to hold large precautionary reserve balances in the aftermath of the last decade’s crises even when there are concerns about default risk or when domestic tax collection is costly. Specifically, we find that countries whose policymakers care less about the future, countries that are politically unstable, and countries suffering from political corruption find it desirable to hold smaller precautionary balances.

The second situation leading to a buildup of reserves is “loss aversion” after the 1997-1998 Asian financial crisis. Loss aversion is the tendency of people in the economy to be more sensitive to reductions in their consumption than to increases. In our model, we modify a generalized expected utility framework so that it attaches bigger weights to “bad” outcomes and smaller weights to “good” outcomes. We show that the government will choose to hold a small stock of reserves if it believes the populace is indifferent between reductions and increases in their consumption, while it will choose to hold a much larger stock of reserves if it believes the populace is loss-averse. We also show that, even when the return on domestic capital far exceeds the return on the safe asset, it can still be desirable for the government to hold large reserve balances if agents are loss-averse.

Conclusion

Our research found that a standard set of explanatory factors does a good job in explaining central bank reserve holdings of developing countries through 1996, but it under-predicts reserve holdings of countries in East Asia after that. Undoubtedly, the recent large buildup of international reserve holdings in East Asia is motivated by the experience of the recent Asian financial crisis. When countries’ access to capital markets is diminished because their governments and private sectors appear to be at high risk of defaulting and when it is costly either to raise taxes or to cut government spending, countries will find it desirable to hold large precautionary reserve balances. When countries attach more weight to bad outcomes than to good ones, they also find it desirable to hold sizeable precautionary balances of international reserves, even if the return on investing domestic capital far exceeds the return on reserves. Not all developing economies, indeed not all emerging markets, will hold large reserve stockpiles in the aftermath of crises, however. Countries that strongly favor current consumption, that experience political instability, or that suffer from political corruption face a lower effective return on holding reserves and will acquire more modest stockpiles.

While our study is consistent with the view that hoarding foreign exchange reserves may serve a useful role, it does not follow that all countries will benefit from adopting this strategy. In particular, our results suggest that the benefits accrue only when countries optimally control both the saving of precautionary reserves and external borrowing. Attempts to focus only on the reserves side may disappoint if the borrowing side is abused as a result of political uncertainty or corruption.

Top 10 Countries by Foreign Exchange Reserves

Rank Country/Monetary Authority billion USD (end of month) change in year 2007 1 People’s Republic of China $ 1809 (June) 1 +43.3% 2 Japan $ 1004 (April) +8.7% 3 Russia $ 597 (August 01) 2 [1] +56.8% — Eurozone $ 563 (March) +16.6% 4 India $ 307 (July 18) 2 +64.4% 5 Republic of China (Taiwan) $ 291 (July) [2] +2.7% 6 South Korea $ 260 (April) +9.7% 7 Brazil $ 204.194 (Aug 14) 3 +105.9% 8 Singapore $ 176 (April) +19.1% 9 Hong Kong $ 160 (April) +14.6% 10 Germany $ 144 (April) +20.3%

Note: Full List

Ethiopian Genetic Components Identified

Different Genetic Components in the Ethiopian Population, Identified by mtDNA and Y-Chromosome Polymorphisms

Seventy-seven Ethiopians were investigated for mtDNA and Y chromosome–specific variations, in order to (1) define the different maternal and paternal components of the Ethiopian gene pool, (2) infer the origins of these maternal and paternal lineages and estimate their relative contributions, and (3) obtain information about ancient populations living in Ethiopia. The mtDNA was studied for the RFLPs relative to the six classical enzymes (HpaI, BamHI, HaeII, MspI, AvaII, and HincII) that identify the African haplogroup L and the Caucasoid haplogroups I and T. The sample was also examined at restriction sites that define the other Caucasoid haplogroups (H, U, V, W, X, J, and K) and for the simultaneous presence of the DdeI10394 and AluI10397 sites, which defines the Asian haplogroup M. Four polymorphic systems were examined on the Y chromosome: the TaqI/12f2 and the 49a,f RFLPs, the Y Alu polymorphic element (DYS287), and the sY81-A/G (DYS271) polymorphism. For comparison, the last two Y polymorphisms were also examined in 87 Senegalese previously classified for the two TaqI RFLPs.

Results from these markers led to the hypothesis that the Ethiopian population (1) experienced Caucasoid gene flow mainly through males, (2) contains African components ascribable to Bantu migrations and to an in situ differentiation process from an ancestral African gene pool, and (3) exhibits some Y-chromosome affinities with the Tsumkwe San (a very ancient African group). Our finding of a high (20%) frequency of the “Asian” DdeI10394AluI10397 (11) mtDNA haplotype in Ethiopia is discussed in terms of the “out of Africa” model.

22 James Bonds

1. Dr. No (1962)

The 1st James Bond film

Starring Sean Connery as James Bond, Ursula Andress as the Honey Ryder and Joseph Wiseman as the villain, Doctor No. Directed by Terence Young. With Jack Lord (of Hawaii Five-0) as CIA agent Felix Leiter.
Dr. No intends to destroy a U.S. moon rocket from his nuclear-powered base on an island near Jamaica.

Budget: $900,000. Opening dates: UK October 5, 1962; US May 8, 1963.

2. From Russia with Love (1963)

The 2nd James Bond film

Starring Sean Connery as James Bond, Daniela Bianchi as Tatiana Romanov, and Robert Shaw and Lotte Lenya as the villains Red Grant and Rosa Klebb. Directed by Terence Young.

Budget: $2 million. Opening dates: UK October 10, 1963, US April 8, 1964.

3. Goldfinger (1964)

The 3rd James Bond film

Starring Sean Connery as James Bond, Honor Blackman as Pussy Galore, Shirley Eaton as Jill Masterson (the girl who is painted gold), Gert Frobe as the villain, Auric Goldfinger, and Harold Sakata as the henchman Oddjob. Directed by Guy Hamilton.

Villainous Goldfinger plans to explode a nuclear device in Ft. Knox to create global economic chaos. This film featured an Aston Martin DB5 with ejection seat and machinegun taillights.

Budget: $3 million. Opening dates: UK September 17, 1964; US December 22, 1964.

4. Thunderball (1965)

The 4th James Bond film

Starring Sean Connery as James Bond, Claudine Auger as Domino, Luciana Paluzzi as Fiona Volpe, and Adolfo Celi as the villain, Largo. With Rik Van Nutter as Felix Leiter. Directed by Terence Young. Remade in 1983 as Never Say Never Again.

Budget: $5.5 million. Opening dates: UK December 29, 1965; US December 21, 1965.

5. You Only Live Twice (1967)

The 5th James Bond film

Starring Sean Connery as James Bond, Akiko Wakabayashi as Ski, Mie Hama as Kissy Suzuki, Donald Pleasence as the villain, Blofeld. With Burt Kwouk. Directed by Lewis Gilbert. Screeplay by Roald Dahl. Filmed in Japan.

Budget: $8.5 million. Opening dates: UK June 12, 1967; US June 13, 1967.

6. On Her Majesty’s Secret Service (1969)

The 6th James Bond film

Starring George Lazenby as James Bond, Diana Rigg as Tracy Di Vincenzo (and the only Mrs. James Bond!) and Telly Savalas (Kojak) as the villain, Ernst Stavro Blofeld. Also starring Joanna Lumley (later of Absolutely Fabulous). Directed by Peter Hunt.

Budget: $7 million. Opening dates: UK and US, December 18, 1969.

7. Diamonds Are Forever (1971)

The 7th James Bond film

Starring Sean Connery as James Bond, Jill St. John as Tiffany Case, Lana Wood as Plenty O’Toole, Jimmy Dean (the sausage guy) as Willard Whyte and Charles Gray as the villain, Ernst Stavro Blofeld. Directed by Guy Hamilton. Filmed in Las Vegas.

Budget: $7 – 10 million. Opening dates: UK December 30, 1971; US December 17, 1971.

8. Live and Let Die (1973)

The 8th James Bond film

Starring Roger Moore as James Bond [his 1st Bond], Jane Seymour as Solitaire, Clifton James as Sheriff J.W. Pepper, Geoffrey Holder (the Uncola man) as Baron Samedi and Yaphet Kotto as the villain, Kananga/Mr. Big. With David Hedison as Felix Leiter. Directed by Guy Hamilton. Theme song by Paul McCartney and Wings. Filmed in New Orleans.

Budget: $7 – 12 million. Opening dates: UK July 6, 1973; US June 27, 1973.

9. The Man with the Golden Gun (1974)

The 9th James Bond film

Starring Roger Moore as James Bond, Britt Ekland as Mary Goodnight, Maud Adams as Andrea Anders, and Christopher Lee as the villain, Scaramanga. With Herve Villechaize (aka Tattoo from “Fantasy Island“). Directed by Guy Hamilton. Filmed in Thailand (including Phuket) and Hong Kong

Budget: $13 million. Opening dates: UK and US, December 19, 1974.

10. The Spy Who Loved Me (1977)

The 10th James Bond film

Starring Roger Moore as James Bond, Barbara Bach (Mrs. Ringo Starr) as Anya Amasova, Caroline Munro as Naomi, Curt Jurgens as the villain, Stromberg and Richard Kiel as Jaws. Directed by Lewis Gilbert.
Generally considered to be Roger Moore’s best Bond film.

Budget: $14 million. Opening dates: UK July 7, 1977; US August 3, 1977.

11. Moonraker (1979)

The 11th Bond film

Starring Roger Moore as James Bond, Lois Chiles as Holly Goodhead, Michel Lonsdale as the villain, Drax and Richard Kiel as Jaws. Directed by Lewis Gilbert.

Budget: $25 – 30 million. Opening dates: UK June 26, 1979; US July 2, 1979.

Trivia: The 11th Bond film was originally supposed to be For Your Eyes Only, but Moonraker was moved up to tie in with the new Space Shuttle program, as well as the Star Wars craze.

12. For Your Eyes Only (1981)

The 12th James Bond film

Starring Roger Moore as James Bond, Carole Bouquet as Melina Havelock, Lynn-Holly Johnson as Bibi Dahl [note the pun] and Cassandra Harris (the 1st Mrs. Pierce Brosnan) as Countess Lisl, with Julian Glover as the villain, Kristatos. Directed by John Glen.

Budget: $26 – 28 million. Opening dates: UK June 24, 1981; US June 26, 1981.

13. Octopussy (1983)

The 13th James Bond film

Starring Roger Moore as James Bond, Maud Adams as the title character, Kristina Wayborn as Magda, and Louis Jourdan as the villain, Kamal. With tennis pro Vijay Amritraj. Directed by John Glen. Screenplay by George MacDonald Fraser.

Budget: $25 million. Opening dates: UK June 6, 1983; US June 10, 1983.

This film was released the same year as Sean Connery‘s return as Bond in Never Say Never Again.

14. A View to a Kill (1985)

The 14th James Bond film

Starring Roger Moore as James Bond, Tanya Roberts as Stacey Sutton and Christopher Walken as the villain, Max Zorin, with Grace Jones as henchwoman May Day. Also starring Fiona Fullerton, Patrick Macnee, Alison Doody and Dolph Lundgren. Directed by John Glen. Theme song by Duran Duran. Moore’s last appearance as Bond. David Bowie had been rumored to play Zorin.
This movie is often argued to be the worst Bond film ever.

Budget: $25 million. Opening dates: UK June 12, 1985; US May 22, 1985.

15. The Living Daylights (1987)

The 15th James Bond film

Starring Timothy Dalton as James Bond [his 1st Bond film], Maryam D’Abo as Kara Milovy and Joe Don Baker as the villain, Whitaker. With Jeroen Krabbé, and John Rhys-Davies. Directed by John Glen.

Budget: $30 million. Opening dates: UK June 29, 1987; July 31, 1987

16. Licence to Kill (1989)

The 16th James Bond film

Also known as License to Kill (variant spellings between US and UK releases). Starring Timothy Dalton as James Bond, Carey Lowell as Pam Bouvier, Talisa Soto as Lupe Lamora and Robert Davi as the villain, Sanchez. With David Hedison as Felix Leiter. Also starring Wayne Newton, Benecio del Toro and Priscilla Barnes. Directed by John Glen. Dalton’s last Bond film.
James Bond seeks revenge on a Central American drug lord who has maimed his best friend.

Budget: $36 million. Opening dates: UK June 13, 1989; US July 14, 1989.

Note: There was a 6-year gap between this film and the next Bond film, GoldenEye, due to litigation.

17. GoldenEye (1995)

The 17th James Bond film

Starring Pierce Brosnan as James Bond, Izabella Scorupco as Natalya Simonova, Famke Janssen as Xenia Onatopp, Sean Bean as Alec Trevelyan (Agent 006). With Robbie Coltrane, Alan Cumming and Minnie Driver.
Directed by Martin Campbell. Screenplay by Bruce Feirstein. Theme song performed by Tina Turner, written by Bono and The Edge from U2.

18. Tomorrow Never Dies (1997)

The 18th James Bond film

Starring Pierce Brosnan as James Bond, Michelle Yeoh as Wai Lin, Teri Hatcher as Paris Carver, and Jonathan Pryce as the megalomaniac villain, Elliott Carver. With Ricky Jay, Joe Don Baker.
Directed by Roger Spottiswoode. Theme song by Sheryl Crow.

19. The World is Not Enough (1999)

The 19th James Bond film.

Starring Pierce Brosnan as James Bond, Sophie Marceau as Elektra King, Denise Richards as Dr. Christmas Jones, Robert Carlyle as the villain Renard, John Cleese as Q’s assistant, Robbie Coltrane as Valentin Zukovsky.

Directed by Michael Apted. Screenplay by Neal Purvis, Robert Wade and Bruce Feirstein. Score by David Arnold, theme song by Garbage.

20. Die Another Day (2002)

The 20th James Bond 007 film

Starring Pierce Brosnan as James Bond, Halle Berry as Jinx, Rosamund Pike as Miranda Frost, Toby Stephens as Gustav Graves, Rick Yune as Zao, Michael Madsen as Falco. Returning are Judi Dench (as M), John Cleese (as Q), Samantha Bond (as Moneypenny) and Colin Salmon (as Charles Robinson).

Directed by Lee Tamahori. Written by Neal Purvis and Robert Wade. Theme song by Madonna. Novelization by Raymond Benson.

21. Casino Royale (2006)

The 21st James Bond film

Directed by Martin Campbell; screenplay by Neal Purvis and Robert Wade, doctored by Paul Haggis.
Starring Daniel Craig as James Bond, Eva Green as Vesper Lynd, Mads Mikkelsen as Le Chiffre and Jeffrey Wright as Felix Leiter. Also with Giancarlo Giannini, Caterina Murino, Simon Abkarian, Tobias Menzies. Theme song by Chris Cornell.

22. Quantum of Solace (2008)

The 22nd James Bond film

Directed by Marc Forster; screenplay by Paul Haggis, Neal Purvis and Robert Wade.
Starring Daniel Craig as James Bond, Mathieu Amalric, Olga Kurylenko, Gemma Arterton, Jeffrey Wright, Giancarlo Giannini, Jesper Christensen.

QUANTUM — THE VERY LAST JAMES BOND?