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252. A Digital Euro in Search of an Identity
- Author:
- Franco Passacantando
- Publication Date:
- 02-2022
- Content Type:
- Commentary and Analysis
- Institution:
- Istituto Affari Internazionali
- Abstract:
- The recent proliferation of crypto assets and other digital currencies is rapidly transforming the financial industry and the very concept of money. In response to these developments, many central banks are considering the possibility of introducing a central bank digital currency (CBDC), to be used as an alternative to cash. These trends have led to a lively debate on the role that a new sovereign digital currency could play in the monetary system. Some claim that the creation of a CBDC looks like a solution in search of problem because the private sector is already responding to the needs of faster and cheaper payment services.[1] The opposite view is that, if nothing is done, central banks could eventually lose the capacity to conduct monetary policy, to preserve financial stability and to ensure the proper functioning of the payment system. While the European Central Bank (ECB) has yet to make a final decision, in July 2021 it announced the start of a two-year “investigation phase” on the possible introduction of a euro CBDC, in which the views of prospective users and of those who will distribute the new currency will be sought.
- Topic:
- European Union, Finance, Currency, and Digital Policy
- Political Geography:
- Europe
253. Inequalities and Local Infrastructure: The Challenges of Post-Covid Recovery Investments
- Author:
- Filippo Barbera
- Publication Date:
- 02-2022
- Content Type:
- Commentary and Analysis
- Institution:
- Istituto Affari Internazionali
- Abstract:
- Rather than being mere “productive environments”, localities embedded in infrastructure are distinctive living places in which communities of people live and establish a greater part of their daily social relationships. As a result, infrastructure represents the backbone of citizenship rights and strongly affect territorial inequalities. Infrastructure is chiefly understood in physical terms as reticulated systems of highways, pipes, wires or cables. This physical reductionism is by no means sufficient to encompass the multiple facets of the concept or to make sense of the many ways infrastructure affects socio-political inequalities. Knowledge infrastructure, for instance, may indicate robust networks of people, equipment and institutions that generate, share and maintain specific knowledge about the human and natural worlds. Infrastructure furthermore refers to the interplay between information technologies, transportation and other intermodal transport devices. All of these kinds of infrastructure affect inequalities in different ways.
- Topic:
- Political Economy, Politics, Infrastructure, Governance, European Union, Sustainable Development Goals, and Institutions
- Political Geography:
- Europe
254. Israeli Apartheid and the West’s Dwindling Moral Credibility
- Author:
- Andrea Dessì
- Publication Date:
- 02-2022
- Content Type:
- Commentary and Analysis
- Institution:
- Istituto Affari Internazionali
- Abstract:
- Amidst spiralling tensions on the European continent, East-West animosities have returned to dominate daily news cycles. Predictably, this has revived rhetoric on competing political systems and norms, giving rise to a flurry of reporting contrasting Western democracy’s support for the “rules-based international order” vs an informal “alliance of autocracies” led by Russia and China which embrace military might or economic and political blackmail in “a bid to make the world safe for dictatorship”, as recently opinionated the Washington Post.
- Topic:
- Foreign Policy, Apartheid, Human Rights, International Law, and European Union
- Political Geography:
- Europe, Middle East, Israel, Palestine, United States of America, and Mediterranean
255. Europe’s Post-Cold War Order Is No More
- Author:
- Riccardo Alcaro
- Publication Date:
- 02-2022
- Content Type:
- Commentary and Analysis
- Institution:
- Istituto Affari Internazionali
- Abstract:
- Russian President Vladimir Putin’s decision to recognise the independence of the self-styled separatist republics of Donetsk and Luhansk in the Donbas may very well be the beginning of the end of Ukraine as an independent nation. For Ukraine, a nation of almost 44 million people, catastrophe looms large on the horizon. For Europe, these events are the harbinger of the end of an era. Europe’s post-Cold War order is no more.
- Topic:
- Foreign Policy, NATO, Diplomacy, and Transatlantic Relations
- Political Geography:
- Russia, Europe, Turkey, Ukraine, Caucasus, Balkans, and United States of America
256. A G7/G20 Pact for Sustainable Urbanisation? Building on the Positive Legacy of Italy’s G20 Presidency
- Author:
- Nicholas J. A. Buchoud, Michael Keith, Susan Parnell, and Martin van der Pütten
- Publication Date:
- 02-2022
- Content Type:
- Commentary and Analysis
- Institution:
- Istituto Affari Internazionali
- Abstract:
- The G20 as we know it emerged from the 2008 global financial crisis. What is rarely acknowledged, however, is that this grouping of the world’s twenty largest economies emerged at a time when the world was fast becoming more “urban” than “rural”. The impact of urbanisation on the world economy has received scant attention in global decision-making arenas because the post-2008 stabilisation of the global financial system came with significant costs. In particular, the financial crisis had important recentralising effects. The OECD, for instance, has regularly underlined the lasting impact of the financial crisis on sub-national investment capabilities.
- Topic:
- International Political Economy, Infrastructure, Governance, Urbanization, G20, and Sustainable Development Goals
- Political Geography:
- Europe and Italy
257. Putin’s Use and Abuse of History: Back to the 19th Century?
- Author:
- Leo Goretti
- Publication Date:
- 03-2022
- Content Type:
- Commentary and Analysis
- Institution:
- Istituto Affari Internazionali
- Abstract:
- “Ukraine is not just a neighbouring country for us. It is an inalienable part of our own history, culture and spiritual space.” This is how Putin introduced the “decisions being made” in his 55-minute address to the nation on 21 February 2022, which paved the way for Russia’s invasion of Ukraine. Several commentators noted how Putin’s speech was replete with historical references: as historian Benjamin Nathans pointed out, Vladimir Putin seems to be “quite obsessed with history. So part of our attention […] should be looking at how Putin is using history”. Indeed, almost one-quarter of Putin’s speech was devoted to a rather erratic and convoluted discussion of pre-1991 Russian and Soviet history, departing from the assumption that this was necessary “to explain the motives behind Russia’s actions and what we aim to achieve”.
- Topic:
- Nationalism, History, and Conflict
- Political Geography:
- Russia, Ukraine, Caucasus, and Balkans
258. A Congruous Multilateral Security Framework? Searching for an Asian Democratic Partnerships
- Author:
- Jagannath P. Panda
- Publication Date:
- 10-2022
- Content Type:
- Commentary and Analysis
- Institution:
- East Asia Institute (EAI)
- Abstract:
- Along with the rise of geopolitical competition within the region, there have been upcoming threats toward Asian democracy such as the ongoing Russia-Ukraine war. Dr. Jagannath Panda, Head of the Stockholm Center for South Asian and Indo-Pacific Affairs, discusses how the Russian-Ukraine war reveals the lack of integrity and unity among Asian democratic countries, as each states displays different attitude towards the sanctions against Russia. He considers Russian-Ukraine war as an example of how an autocratic power can undermine the international liberal order and violate the inherent democratic principles. While the Quadrilateral Security Dialogue (Quad) has the potential to develop into a broader multilateral security framework and a countermeasure towards autocratic countries in the region, Dr. Panda stresses that the search for an effective democratic partnership driven by Asian states such as a new Regional Cooperation and Integration (RCI) should be ongoing in order to reinforce the resilience of smaller democratic states and counterbalance the influence of autocratic states in the region.
- Topic:
- Security, Partnerships, Democracy, Multilateralism, Regional Politics, and Russia-Ukraine War
- Political Geography:
- Asia
259. Elite Polarization in South Korea: Evidence from a Natural Language Processing Model
- Author:
- Seungwoo Han
- Publication Date:
- 10-2022
- Content Type:
- Commentary and Analysis
- Institution:
- East Asia Institute (EAI)
- Abstract:
- Political polarization in elite politics of South Korea has remained a serious issue in the past decade. Seungwoo Han, Adjunct Lecturer at the Rutgers, the State University of New Jersey, examines the development of political polarization in the National Assembly by analyzing the political language and expressions used in the subcommittee meeting minutes through natural language processing. The result demonstrates that while the political polarization has waxed and waned over time, a surge in polarization was spotted during the 20th National Assembly. Han attributes the intensification of polarization to the impeachment of President Park Geun-hye and the following Moon Jae-in government’s attempt to correct the injustice of the mischief of previous governments. Author also warns that severe political polarization can only lead to a deadlock in legislative decisions, thus neglecting the need of citizens in important matters irrelevant of ideological dichotomy.
- Topic:
- Democracy, Polarization, and Natural Language Processing
- Political Geography:
- Asia and South Korea
260. State of Minority Rights in Asia: Trends from India, Bangladesh, Nepal, Mongolia and Thailand
- Author:
- Niranjan Sahoo
- Publication Date:
- 09-2022
- Content Type:
- Commentary and Analysis
- Institution:
- East Asia Institute (EAI)
- Abstract:
- In this issue briefing, Dr. Niranjan Sahoo, Senior Fellow at the Observer Research Foundation in New Delhi, provides an analysis of five countries across Asia on the worrying trend in the erosion of civil liberties of minorities in recent years. In the case of India, Bangladesh, Nepal, and Mongolia, he first identifies how the existence of legal and constitutional provisions to protect minorities was only nominal in nature. Minorities have suffered from a lack of civil and political representation, and have faced restrictions on their religious freedoms in practice. He also points out the limited influence of global human rights actors due to a lack of coherent and sustained pressure. Sahoo, while noting the successes of Thailand’s LGBTQ rights, concludes that the inability and apathy of state institutions, lack of resources, and majoritarian politics, provide a bleak projection of the state of minority rights.
- Topic:
- Human Rights, Religion, Minorities, Democracy, and Civil Liberties
- Political Geography:
- Bangladesh, India, Mongolia, Asia, Nepal, and Thailand