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  • Author: Yasheng Huang
  • Publication Date: 05-2011
  • Content Type: Journal Article
  • Journal: Journal of International Affairs
  • Institution: School of International and Public Affairs, Columbia University
  • Abstract: It is now a part of conventional wisdom that both China and India are emerging economic, political and even military powers in the 21st century. Terms such as “BRIC” and “Chindia,” and phrases such as “not China or India, but China and India” have entered popular discourse and policy discussions. Such terms imply a synergistic relationship between China and India—an implication that belies the tension that has characterized Sino-Indian relations for centuries. My view is less sanguine than many others' about the prospects of their relations. Relations between the two countries will be fraught with difficulties and will likely remain fragile. Conflict and competitiveness are deeply rooted in historical and structural causes, while forces for harmony are more contingent on political will, cultural understanding and careful policy management. There are several areas in which their relations can go wrong. At a fundamental level, the two countries are in an economically competitive, not a complementary, relationship with each other. Their economic and social endowments are similar (as compared with China/U.S. or India/U.S.). India and China offer very different lessons about economic policies and growth. This is not to suggest that the two countries are headed toward an inevitable collision, but to identify the urgency of carefully managing their relations and nurturing trust and goodwill on both sides.
  • Topic: Economics
  • Political Geography: United States, China, India
  • Author: Arvind Panagariya
  • Publication Date: 05-2011
  • Content Type: Journal Article
  • Journal: Journal of International Affairs
  • Institution: School of International and Public Affairs, Columbia University
  • Abstract: In the Spring/Summer 1994 issue of the Journal, I published an article entitled “India: A New Tiger on the Block?” in which the concluding paragraph asked, “Will India accomplish in the next decade what China did in the previous one?” I stated that although it is overly optimistic to respond affirmatively, a 6 to 7 percent annual growth rate in India could not be ruled out. The world should not be surprised if, in a decade's time, it sees another tiger on the block.
  • Topic: Economics
  • Political Geography: India
  • Author: Paul Fraioli
  • Publication Date: 05-2011
  • Content Type: Journal Article
  • Journal: Journal of International Affairs
  • Institution: School of International and Public Affairs, Columbia University
  • Abstract: The objective of this paper is to examine how patterns of Indian and Chinese reporting on Myanmar reflect the political climates of each country. A sample of 94 articles from Indian sources and 106 articles from Xinhua News Agency (English) was examined using content-analysis techniques. There is a clear divergence in the topics covered by the Indian and Chinese media during the time period reviewed, 3 November to 17 November 2010, which was selected to coincide with Myanmar's first nationwide elections in twenty years as well as the release of political prisoner Aung San Suu Kyi from house arrest. The Indian press provided more coverage of Suu Kyi's release and of Myanmar political affairs than the Chinese press, but neither India nor China covered Suu Kyi's activities in the days following her release. The Chinese press provided more coverage of economic affairs and the Myawaddy border crisis, which the Indian press ignored. Surprisingly, the press in nondemocratic China attentively chronicled and promoted Myanmar's elections while the press in democratic India had very little to say about them. This suggests that on these issues, the press focus on what they perceive to be in the national interest of their respective countries.
  • Topic: Economics
  • Political Geography: China, India
  • Author: Aditi Malik, Maria Y. Wang
  • Publication Date: 05-2011
  • Content Type: Journal Article
  • Journal: Journal of International Affairs
  • Institution: School of International and Public Affairs, Columbia University
  • Abstract: With the simultaneous rise of two titans in Asia, India and China, what are the features that mark their relations with one another? Furthermore, what can current relations tell us about future prospects for peace between the two nations? These are the fundamental questions with which Jonathan Holslag is concerned. He notes that these are not new questions but ones that have been the subject of continuous debate. He argues that this debate has broadly produced two camps: the first camp is focused on the “security relationship,” while the second analyzes the above questions from the perspective of the increased interdependence between the two nations. Holslag aims to situate his work by taking into account information from both camps.
  • Topic: Security, Economics
  • Political Geography: China, India, Asia
  • Author: Ulrike E Lorenz
  • Publication Date: 01-2011
  • Content Type: Journal Article
  • Journal: Journal of International Relations and Development
  • Institution: Central and East European International Studies Association
  • Abstract: Despite the melodious intentions to make poverty history in the 21st century, the quest for promising concepts proves to be far less harmonious. Hopes were high that a globalised world would imply the smooth diffusion of such positively valued 'assets' as wealth and knowledge through a just system.
  • Topic: Economics
  • Author: William Morrell
  • Publication Date: 02-2011
  • Content Type: Journal Article
  • Journal: Journal of Security Sector Management
  • Institution: Centre for Security Sector Management
  • Abstract: This paper will provide an overview of the historical, political and economic situation in Southern Sudan in the run up towards its referendum on independence in January 2011. There is a strong sense that the South will vote for secession without full cognisance of the implications for its longer term peace and prosperity. The paper will review the correlates of war onset identified in contemporary research and assess their applicability to Southern Sudan at this important juncture. It will look for mitigating factors and explore strategies for securing the economy as a prerequisite to longer term peace and economic viability.
  • Topic: Economics
  • Political Geography: Sudan, Alabama
  • Author: Harvey B. Feigenbaum
  • Publication Date: 05-2011
  • Content Type: Journal Article
  • Journal: Political Science Quarterly
  • Institution: Academy of Political Science
  • Abstract: HARVEY B. FEIGENBAUM discusses the economic and cultural reasons for the spread of American pop culture and finds that political complaints by many countries about “Americanization” are well founded.
  • Topic: Economics
  • Political Geography: America
  • Author: Moshik Lavie, Christophe Muller
  • Publication Date: 06-2011
  • Content Type: Journal Article
  • Journal: The Goettingen Journal of International Law
  • Institution: The Goettingen Journal of International Law
  • Abstract: This paper analytically investigates the incentive scheme of perpetrators of violent conflicts. It provides a rational equilibrium framework to elicit how monetary incentives and survival considerations shape a combatant‟s decision to participate in a conflict. In the model, a leader decides to award soldiers monetary incentives. Civilians finance the militia via donations and soldiers decide on the actual fighting and indulge in looting. We explore the scheduled decision-making that takes place on the path toward a violent conflict and study the principal-agent relationship that exists between the leader and the militia. In addition, we analyze the effect of several internal factors (productivity and survival risk) and external factors (relative economic resources, opponents‟ military strength) on the intensity of the conflict.
  • Topic: Economics
  • Author: Leif Wenar
  • Publication Date: 05-2011
  • Content Type: Journal Article
  • Journal: Ethics International Affairs Journal
  • Institution: Carnegie Council
  • Abstract: The "resource curse" can strike countries that derive a large portion of their national income from exporting high-value natural resources, such as oil, gas, metals, and gems. Resource-exporting countries are subject to four overlapping curses: they are more prone to authoritarianism, they tend to suffer more corruption, they are at a higher risk for civil wars, and they exhibit greater economic instability. The correlations between resources and such pathologies as authoritarianism, corruption, civil conflict, and economic dysfunction are evident in the list of the five major African oil exporters: Algeria, Angola, Libya, Nigeria, and Sudan. The recent histories of mineral exporters support the correlations: for example, "blood diamonds" fueled Sierra Leone's decade-long civil war, and the continuing conflict in the metal-rich eastern Congo has caused up to 6 million deaths. The phenomenon is not solely African: Burma, Yemen, and Turkmenistan, for example, are also resource cursed. Moreover, poor governance in resource-cursed countries can engender follow-on pathologies, such as a propensity to cause environmental damage both domestically (for example, through the destruction of forests) and globally (through increased greenhouse gas emissions). Most research on the resource curse has focused on the institutions of exporting countries. This essay focuses instead on importing countries, especially those in North America and Europe. I survey how the resource curse impedes core interests of importing states. I then discuss how the policies of importing states drive the resource curse, and how these policies violate their existing international commitments. The second half of the paper describes a policy framework for importing states that can improve international trade in resources for both importers and exporters.
  • Topic: Economics
  • Political Geography: Africa, Europe, Sudan, Libya, Algeria, Burma, North America, Nigeria, Angola
  • Author: Martino Bianchi
  • Publication Date: 05-2011
  • Content Type: Journal Article
  • Journal: Central European University Political Science Journal
  • Institution: Central European University
  • Abstract: The relevance of institutions for the economic analysis is a theoretical core issue within contemporary debate. Mainstream neoclassical economics, in fact, has traditionally considered institutions as a peripheral element: they are constraints, which can interfere with market outcomes, but that nevertheless are mainly irrelevant in understanding the inner mechanisms of markets. On the contrary, within the Institutional Economics, and later the New Institutional Economics (NIE) many scholars has tried to support the idea that institutions are the crucial element which explains economic performances: moulding actors preferences and behaviour, institutions directly affect each element of economics theory. In their analyses NIE scholars draws from various scientific disciplines, like political science, cognitive theories, social psychology and sociology: they make an attempt to abandon the thrifty descriptions produced by mainstream economists, giving a much broader insight in economic dynamics. At the same time, they try to outline an empirical description of market's configuration. In the last two decades NIE has gained considerable relevance and scientific recognition: first Ronald Coase, in 1991, then Douglass C. North in 1993, and finally Oliver E. Williamson and Elinor Ostrom who, in 2009, won the Nobel Prize for Economics. Despite this, NIE is still usually referred as a heterodox scholarship.
  • Topic: Economics
  • Author: Zoltán Glück
  • Publication Date: 05-2011
  • Content Type: Journal Article
  • Journal: Central European University Political Science Journal
  • Institution: Central European University
  • Abstract: Perhaps the most misleading platitude that one hears all too often in discussions of the contemporary rise of piracy off the Horn of Africa is that piracy has been around since the beginning of recorded history. On the surface, the statement is of course true. But this truth comes at the tremendous price of conceptually flattening differences between diverse social and historical situations into a one dimensional legal category, thereby obfuscating the genealogy of a concept and a figure that has been formative to the history of nations. It is precisely this complex genealogy that Professor Heller-Roazen assails and reconstructs with tremendous acumen and subtlety in his latest work The Enemy of All: Piracy and the Law of Nations.
  • Topic: Economics
  • Political Geography: Germany, North Africa
  • Author: Dr. Volker Franke
  • Publication Date: 01-2011
  • Content Type: Journal Article
  • Journal: Journal of Military and Strategic Studies
  • Institution: Centre for Military and Strategic Studies
  • Abstract: Today's strategic environment is increasingly characterized by threats that "are both diffuse and uncertain, where conflict is inherently unpredictable, and where our capability to defend and promote our national interests may be restricted by political, diplomatic, informational and economic constraints. In short, it is an environment marked by volatility, uncertainty, complexity, and ambiguity (VUCA)." Decision-makers, both civilian and military, who want to operate effectively in this environment must consider a wide range of social, political and cultural factors and demonstrate cognitive flexibility, adaptability and the ability to make decisions "on the fly."
  • Topic: Climate Change, Economics
  • Author: Gavin Weins
  • Publication Date: 01-2011
  • Content Type: Journal Article
  • Journal: Journal of Military and Strategic Studies
  • Institution: Centre for Military and Strategic Studies
  • Abstract: Alliances have, and likely always will have, a common feature of international diplomacy for a number of reasons. First, the primary objective of any government is defence and states will attempt to heighten security through international agreements. Second, military and economic power is unevenly distributed among states and weaker powers will unavoidably gravitate toward stronger powers in search of increased protection and commercial benefits. Third, an alliance can occasionally be the most effective means of tying the hands of a rival. Despite the variety of objectives that encourage the formation of alliances and the numerous forms that international agreements can assume, Marco Cesa argues that international relations theory has consistently recognized the existence of only one type of alliance: those agreements between states that are designed to confront an aggressive and dangerous “common enemy.” Above all, this viewpoint has one-dimensionally characterized alliances as unions of separate forces, policy-coordination organizations, or as takers of joint action against some third party. The “internal” dimensions of alliances, or the complex negotiations between allies, have consequently been overshadowed by the “external” dimensions, or the measures implemented by the allies to confront the threatening power. Nevertheless, states are almost always involved in ambiguous and clandestine diplomatic manoeuvres against not only enemies, but allies as well. Through an examination of this “darker side” of alliances, Cesa attempts to highlight the shortcomings of traditional international relations theory and, at the same time, offer an alternative framework for the examination of inter-ally relations.
  • Topic: Economics, Government
  • Political Geography: Europe
  • Author: Michael Spence
  • Publication Date: 07-2011
  • Content Type: Journal Article
  • Journal: Foreign Affairs
  • Institution: Council on Foreign Relations
  • Abstract: Jobs growth was slow in May, renewing pessimism about the U.S. economy. Spence, a Nobel Prize-winning economist writes that economic growth and employment in the United States have started to diverge, increasing income inequality and reducing jobs for less-educated workers.
  • Topic: Economics, Globalization, Poverty, Labor Issues
  • Author: Donald P. Gregg
  • Publication Date: 04-2011
  • Content Type: Journal Article
  • Journal: Ambassadors Review
  • Institution: Council of American Ambassadors
  • Abstract: The good news out of the Koreas is that President Barack Obama, as no other president before him, has recognized that South Korea is America's most reliable and active ally in Asia. The President mentioned South Korea in his January 25 State of the Union speech far more than any other country, praising its teachers, its technical prowess, its growing economic status, and urging quick ratification of the Korea-US Free Trade Agreement. If any further proof of Seoul's current status was needed, David Sanger in The New York Times of February 20, 2011, said flatly, “South Korea…is now Washington's favorite ally in Asia.”
  • Topic: Economics, Treaties and Agreements
  • Political Geography: United States, New York, Washington, Asia, South Korea, Sinai Peninsula
  • Author: Anthony de Jasay
  • Publication Date: 06-2011
  • Content Type: Journal Article
  • Journal: The Cato Journal
  • Institution: The Cato Institute
  • Abstract: Rational choice presupposes that people do what they like better than any available alternative. If, however, we mistrust what they declare to like or what psychology is supposed to tell us about it (a pardonable enough mistrust), we can only infer what they like from observing what they do. We must be content with revealed preference. The theory of choice is locked into the tautology of “they do what they like because they like what they do,” and requiring their preferences to be orderly and consistent is of little practical help. In its elegance, modern choice theory, as represented in neoclassical economics, is too smooth and slippery to be very useful.
  • Topic: Economics
  • Author: Roberto Setubal
  • Publication Date: 06-2011
  • Content Type: Journal Article
  • Journal: Americas Quarterly
  • Institution: Council of the Americas
  • Abstract: Gradually and firmly over the past 15 years, Brazil has consolidated a stable democracy, broken free from macroeconomic instability, and taken remarkable steps toward alleviating poverty and reducing a historically high level of income inequality. The country that welcomed Dilma Rousseff as its new president on January 1 is also the country that will host the 2014 World Cup and the 2016 Summer Olympics. Ms. Rousseff has a chance to push Brazil further along the road to development. To get there, she must maintain the achievements of the past and persevere in making the changes that Brazil needs. The opportunities are big—so are the challenges. Brazil's political, economic and social advances have paved the way for the development of a large consumer market. This puts the country in a position to benefit from today's global marketplace. Consumer spending in advanced economies is flattening out. At the same time, with their large potential consumer markets, emerging markets are becoming “consumers of last resort,” attracting an increasing share of global resources. Brazil is one of them. A new, larger middle class is now emerging. From 2003 to 2009, about 35.7 million people joined Brazil's middle-class income bracket. By 2014, Brazilian economists and business leaders estimate that another 30 million will have made that move. This development will have far-reaching implications for businesses, but also for society as a whole. Investment is very likely to rise in the years ahead. New projects now follow the expected consumer patterns of this new middle class. Investment is spurred by macroeconomic stability and other developments that have increased confidence and enabled a slow but steady decline in real interest rates. This has lowered the cost of capital and stimulated credit and capital markets. Investments will also increase for more specific reasons. First, the new deepwater oil fields will require vast financial resources and new technology, allowing Brazil's oil production to double by 2020. Second, pent-up demand for housing will be a catalyst for investment, since a significant number of Brazilians still live in sub-standard homes. Third, the World Cup and Olympics will require investments on a considerable scale. Preparing for these large sports events will benefit diverse sectors of the economy, through spending on ports and airports, urban transportation, sports facilities, hotels, telecommunications, energy, and security. Tourism is likely to benefit during the games, and also afterward. Nevertheless, with public and private domestic savings at their current low levels, Brazil will need to continue tapping external savings to finance growth. That means a larger current-account deficit and an exchange rate appreciated by capital inflows. Brazil will have to make the most of its available resources. It will be essential to create an environment that is conducive to private sector saving and investment. Ensuring stable macroeconomic conditions is critical. Remaining market-friendly in a well-regulated environment is also crucial for healthy and abundant financing. A well-established institutional design for regulatory agencies, which instills the necessary confidence that the private sector can undertake major, long-term projects, is indispensable. A great deal can be achieved through small but focused changes, instead of ambitious but often unrealistic regulatory agendas. The advance in credit regulation in Brazil is one such example. Developing a deeper market for private, fixed-income securities is important, but there needs to be a liquid secondary market, so that families have more confidence in extending the maturities on their investments. Just as we have such a market for equities, we can have one for fixed-income securities...
  • Topic: Security, Economics
  • Political Geography: Brazil
  • Author: Raul Rivera
  • Publication Date: 06-2011
  • Content Type: Journal Article
  • Journal: Americas Quarterly
  • Institution: Council of the Americas
  • Abstract: Most people have grown used to thinking about Latin America as a region of marginal global importance: painfully poor, violent, politically and economically unstable and, to top it all, fragmented into some 20-odd countries, each one different from the other. So when Jerry Wind, founding editor of Wharton School Publishing, invited me to speak on Latin America at a Wharton conference aimed at senior U.S. executives, I wondered what a group of U.S. businesspeople would be interested to hear about the region. Who, after all, would want to do business in a place like that? But how accurate are those perceptions? As I prepared for my talk, my conclusion was: not much. Let's address the four principal myths about the region one by one. Myth 1: Latin America Really Does not Matter Economically To start, the territory of continental Latin America is larger than the U.S. and China combined, four times larger than the European Union, and seven times larger than India—a country roughly the size of Argentina. With almost every ecosystem represented, it is in fact the world's most biodiverse region, containing five of the world's ten most biodiverse countries. The region's bio-capacity (the biological productivity of the land measured in hectares per capita) is also larger than any other's. Witness the region's role in the global food chain: it is the largest producer of soybeans, coffee, sugar, bananas, orange juice, a leading fishmeal producer, and a major grain and meat exporter. Its mineral riches keep world industry running: silver, gold, copper, zinc, lead, tin, bismuth, molybdenum, rhenium, telurium, borium, strontium—you name it. And it produces one out of every six barrels of oil. In fact, much of the global community depends on Latin America's vast riches for its prosperity—indeed, for its survival. To that point: the Amazon basin plays a crucial role in the recycling of atmospheric carbon, absorbing one fourth of all global emissions. Latin America's population, now approaching 600 million, is twice that of the U.S. and significantly larger than the combined population of the European Union. Those numbers do not include some 50 million U.S. permanent residents and citizens who trace their origins back to the region (and keep close ties with it). By 2050, the region's population will have risen to an estimated 800 million. Latin America is not poor either. It boasts a per-capita GDP similar to the global average: $10,000. It is no richer or poorer than the rest of the world. In fact, 400 million people, or two-thirds of all Latin Americans, already belong to the global middle class, with their purchasing power fueling much of Latin America's growth. With some 200 million people still living in poverty, Latin America's poor are still numerous. But their ranks are declining fast, at a rate of 5 million a year over the past decade. As a result, its Gini coefficient improved by 10 percent between 2002 and 2008. In brief: the world's poor are now elsewhere—mainly in Asia and Africa. A population this large combined with average income levels have turned Latin America into the fourth largest economy in the world, with a regional GDP of some $6 trillion (purchasing power parity). That is larger than that of Russia and India's combined—larger, in fact, than that of any country or region other than the U.S., the EU and China. Not bad for a “region of marginal importance.” You could argue that Latin America's fragmentation into small, separate markets makes all the difference. But you would be wrong. As a result of the free-market reforms of the past decades, Latin America's economy is now the most open to trade in the developing world, with average tariffs down to 10 percent or less. Intraregional trade is booming. Most significantly, Chile, Colombia, Mexico, and Peru have signed bilateral free-trade agreements (with both the EU and the U.S., though Colombia's is waiting for the U.S. Congress' approval). These agreements are giving rise to a free-trade zone of some 200 million consumers, larger than Brazil and fully open to global trade. Surprisingly, it does not yet have a name—or a space among the BRICs. It will, though. Let's name these four countries the L-4 for now...
  • Topic: Economics, Poverty
  • Political Geography: United States, Europe, India, Brazil, Colombia, Latin America, Mexico, Chile, Peru
  • Author: Robert A. Pastor
  • Publication Date: 06-2011
  • Content Type: Journal Article
  • Journal: Americas Quarterly
  • Institution: Council of the Americas
  • Abstract: Two decades ago, the leaders of Canada, Mexico and the United States forged an agreement that transformed North America from just a geographical expression to the world's most formidable economic entity. The North American Free Trade Agreement (NAFTA) eliminated most of the trade and investment barriers that had segmented the continent. Within a decade, trade among the three countries tripled and foreign direct investment (FDI) quintupled. By 2001, the three nations of North America accounted for 36 percent of the world product—up from 30 percent in 1994. And while many economists have waxed enthusiastic about the growing power of Brazil, U.S. trade with Mexico today is more than six times larger than its trade with Brazil. Unfortunately, since 2001 regional cooperation has stagnated. NAFTA, designed to expand trade and investment, has proven too limited in addressing the current issues facing the three countries. The time has come for the leaders of North America to recommit to regional integration if they want to effectively address the policy issues facing the region. For example, in the wake of the 2008 financial crisis, NAFTA can play a major role in job creation. A revamped agreement can potentially double exports and allow North America to once again compete with integrated markets in Asia and Europe. Beyond jobs, enhanced coordination and information sharing among NAFTA partners will allow for better control of immigration and the flow of illicit drugs across our borders. Finally, strengthening ties will begin to close the development gap between Mexico and its two neighbors, fortifying the economic and political bloc. The Rise and Fall of North America Though NAFTA has long faded from the headlines, the agreement's first years showed much promise. When the North American market was created in 1992, the impact was almost immediate. Contrary to the claim by U.S. presidential candidate Ross Perot that American jobs would be “sucked” into Mexico, the dramatic increase in North American trade coincided with the largest wave of job creation in U.S. history. Between 1992 and 2000, roughly 22 million jobs were added in the U.S., while trade with and FDI in Canada and Mexico grew more than 17 percent each year. The combination of expanded trade and investment meant that the three countries were actually making products together rather than just trading them. By combining U.S. capital and technology with Mexico's cheaper labor and Canada's abundant resources, the enlarged North American market experienced rapid growth, while Europe stagnated. From the onset of the U.S.-Canadian Free Trade Agreement in 1988 to 2001, trade among Mexico, Canada and the U.S., as a percentage of their trade with the world, leapt from 36 percent to 46 percent. The decline of the integration idea could be dated to the spring of 2001, when Presidents Vicente Fox of Mexico and George W. Bush of the U.S. met Canadian Prime Minister Jean Chrétien in Québec. Fox and his Foreign Minister Jorge Castañeda arrived with a suitcase filled with proposals, such as a North American Commission, a “cohesion” fund to reduce the development gap, a customs union and an immigration agreement. But Chrétien was not interested in including Mexico in Canada's talks with the U.S., and Bush rejected any new multilateral institution or fund. The opportunity for progress was lost. The share of trade among the three countries as a percentage of their trade with the rest of the world dropped from 46 percent in 2001 to 40 percent in 2009—almost to pre-NAFTA levels. The average annual growth of trade among the three countries declined by two-thirds, while growth of foreign direct investment decreased by one-half…
  • Topic: Development, Economics
  • Political Geography: United States, Canada, Brazil, North America, Mexico
  • Author: Saskia Sassen
  • Publication Date: 06-2011
  • Content Type: Journal Article
  • Journal: Americas Quarterly
  • Institution: Council of the Americas
  • Abstract: There is little doubt that the North-South axis remains dominant for Latin America's geopolitical positioning. But new relations are emerging and deepening at subnational levels, in turn creating new intercity geographies and challenging that geopolitical notion. These relations are a direct product of economic and cultural globalization. Some examples are the shift of migration from Ecuador and Colombia toward Spain rather than the U.S., the growing economic relations between Chinese businesses and organizations and São Paulo and Rio de Janeiro, and the emergent relations between these cities and Johannesburg, South Africa. The Internet has allowed a rapidly growing number of people to become a part of diverse networks that crisscross the world. And nongovernmental organizations (NGOs) from various parts of the world are establishing active connections over social struggles in Latin America. In other words, beneath the still-dominant North-South geopolitics, transversal geographies are growing in bits and pieces. One trend is the formation of intercity geographies as the number of global cities has expanded since the 1990s. These subnational circuits cut across the world in many directions. A second trend is the growth of civil society organizations and individuals who are connecting around the world in ways that, again, often do not follow the patterns of traditional geopolitics. The New, Multiple Circuits There is no such entity as the global economy. It is more correct to say there are global formations, such as electronic financial markets and firms that operate globally. But what defines the current era is the creation of numerous, highly particular, global circuits—some specialized and some not—interlacing across the world and connecting specific areas, most of which are cities. While many of these global circuits have long existed, they began to proliferate and establish increasingly complex organizational and financial foundations in the 1980s. These emergent intercity geographies function as an infrastructure for globalization, and have led to the increased urbanization of global networks. Different circuits contain different groups of countries and cities. For instance, Mumbai today is part of a global circuit for real estate development that includes investors from cities as diverse as London and Bogotá. Coffee is mostly produced in Brazil, Kenya and Indonesia, but the main place for trading its future is on Wall Street. The specialized circuits in gold, coffee, oil and other commodities each involve particular countries and cities, which will vary depending on whether they are production, trading or financial circuits. If, for example, we track the global circuits of gold as a financial instrument, it is London, New York, Chicago, and Zurich that dominate. But the wholesale trade in the metal brings São Paulo, Johannesburg and Sydney into the circuit, while trade in the commodity, much of it aimed at the retail level, adds Mumbai and Dubai. And then there are the types of circuits a firm such as Wal-Mart needs to outsource the production of vast amounts of goods—circuits that include manufacturing, trading, and financial and insurance services. The 250,000 multinationals in the world, together with their over 1 million affiliates and partnership arrangements worldwide, have created a new pattern of relations that combine global dispersal with the spatial concentration of certain functions often while retaining headquarters in their home countries. The same is true of the 100 top global advanced-services firms that together have operations in 350 cities outside their home base. While financial services can be bought everywhere electronically, the headquarters of leading global financial services firms tend to be concentrated in a limited number of cities. Each of these financial centers specializes in specific segments of global finance, even as they engage in routine types of transactions executed by all financial centers. It's not just global economic forces that feed this proliferation of circuits. Forces such as migration and cultural exchange, along with civil society struggles to protect human rights, preserve the environment and promote social justice, which also contribute to circuit formation and development. NGOs fighting for the protection of the rainforest function in circuits that include Brazil and Indonesia as homes of the major rainforests, the global media centers of New York and London, and the places where the key forestry companies selling and buying wood are headquartered—notably Oslo, London and Tokyo. There are even music circuits that connect specific areas of India with London, New York, Chicago, and Johannesburg. Adopting the perspective of one of these cities reveals the diversity and specificity of its location on some or many of these circuits, which is determined by its unique capabilities. Ultimately, being a global firm or market means entering the specificities and particularities of national economies. This explains why global firms and markets need more and more global cities as they expand their operations across the world. While there is competition among cities, there is far less of it than is usually assumed. A global firm does not want one global city, but many. Moreover, given the variable level of specialization of globalized firms, their preferred cities will vary. Firms thrive on the specialized differences of cities, and it is those differences that give a city its particular advantage in the global economy. Thus, the economic history of a place matters for the type of knowledge economy that a city or city-region ends up developing. This goes against the common view that globalization homogenizes economies. Globalization homogenizes standards—for managing, accounting, building state-of-the-art office districts, and so on. But it needs diverse specialized economic capabilities. Latin America on the Circuit This allows many of Latin America's cities to become part of global circuits. Some, such as São Paulo and Buenos Aires, are located on hundreds of such circuits, others just on a few. Regardless of the case, these cities are not necessarily competing with one other. The growing number of global cities, each specialized, signals a shift to a multipolar world. Clearly, the major Latin American cities have circuits that connect them directly to destinations across the world. What is perhaps most surprising is the intensity of connections with Asia and Europe. Traditional geopolitics would lead one to think that Latin America connects, above all, with North America. There is a strong tendency for global money flows to generate partial geographies. This becomes clear, for example, when we consider foreign direct investment (FDI) in Latin America, a disproportionate share of which goes to a handful of countries. In 2008, for example (a relative peak of FDI), FDI flows into Latin America were topped by Brazil at $45.1 billion, followed at a distance by Mexico at $23.7 billion, Chile at $15.2 billion, and Argentina with $9.7 billion. On average, between 1991–1996 and 2003–2008, FDI in Brazil increased more than five-fold while tripling in Chile and Mexico. Among the countries in the Latin American and Caribbean region receiving the lowest levels of foreign investment in 2008 were Haiti, at $30 million; Guyana, at $178 million; and Paraguay, at $109 million. Globalization and the new information and communication technologies have enabled a variety of local activists and organizations to enter international arenas that were once the exclusive domain of national states. Going global has also been partly facilitated and conditioned by the infrastructure of the global economy…
  • Topic: Economics, Government, Non-Governmental Organization
  • Political Geography: United States, New York, America, South Africa, London, Colombia, Latin America, Mumbai, Sydney, Ecuador, Dubai, Chicago
  • Author: Kevin P. Gallagher, Arturo Sarukhan, Anne-Marie Slaughter, Kurt G. Weyland
  • Publication Date: 06-2011
  • Content Type: Journal Article
  • Journal: Americas Quarterly
  • Institution: Council of the Americas
  • Abstract: Do traditional models of international relations apply in Latin America?
  • Topic: International Relations, Economics, Environment, Government
  • Political Geography: Brazil, Latin America, Mexico
  • Publication Date: 06-2011
  • Content Type: Journal Article
  • Journal: The Objective Standard
  • Institution: The Objective Standard
  • Abstract: No abstract is available.
  • Topic: Economics, Education
  • Political Geography: New York
  • Author: Michael Clancy
  • Publication Date: 07-2011
  • Content Type: Journal Article
  • Journal: Journal of International Relations and Development
  • Institution: Central and East European International Studies Association
  • Abstract: This article examines sources of national identity formation under rapidly changing social and economic conditions. Specifically, it links constructivist notions of national identity formation and reformulation to the growing practice of nation branding. Following a discussion of the contributions of constructivism to the literature on national identity, the article summarises the emergence of nation branding as a contemporary strategy to promote a particular image of the nation to a specific audience. While that audience was once confined to political and economic elites, it has broadened in recent years to include potential tourists, diaspora communities and even one's own citizens. The case study of tourism branding in Ireland demonstrates that while the branding message often differs from reality, its content constitutes a powerful tool for the state in reinforcing a particular notion of national identity.
  • Topic: Economics
  • Political Geography: Ireland
  • Author: Colleen Bell
  • Publication Date: 07-2011
  • Content Type: Journal Article
  • Journal: Journal of International Relations and Development
  • Institution: Central and East European International Studies Association
  • Abstract: This article examines the emergence of counterinsurgency doctrine in Coalition interventions in Afghanistan and Iraq. While counterinsurgency is complimentary to the tenets forwarded by its classical military predecessors in several respects, the article shows that it is also more than a refashioning of conventional military practice. Counterinsurgency is intimately tied to institutional practices that shape global liberal governance. It can be traced to dominant trends in international humanitarian, development and peace interventionism since the end of the Cold War and it deepens the links between the social development of war-affected populations and the politics of international security. Rather than simply a shift in military practice, counterinsurgency is distinguished by its investment in civilian modes of warfare. Counterinsurgency retells the narrative of intervention as part of the evolution of political and economic liberalisation, marking a passage from interventionary force to post-interventionary governance. Modern counterinsurgency, it is concluded, exposes the widening indistinction between contemporary modes of peace and those of war in international relations.
  • Topic: International Relations, Cold War, Economics, War, Counterinsurgency, Governance
  • Political Geography: Afghanistan, Iraq
  • Author: Ian Bruff, Daniela Tepe
  • Publication Date: 07-2011
  • Content Type: Journal Article
  • Journal: Journal of International Relations and Development
  • Institution: Central and East European International Studies Association
  • Abstract: International Political Economy (IPE) has, since its emergence in the 1970s, never been a settled discipline. From the beginning there have been disputes over whether one should seek to understand the agents acting within the international economic system or instead focus on ontological enquiries into the historical evolution of world order itself.
  • Topic: Economics, Political Economy
  • Author: Žarko Petrović, Dušan Reljic
  • Publication Date: 07-2011
  • Content Type: Journal Article
  • Journal: Insight Turkey
  • Institution: SETA Foundation for Political, Economic and Social Research
  • Abstract: The vigor which has characterized the Turkish approach to the Western Balkans since the end of the Cold War has transformed the country into an important regional actor from its previous position as a distant neighbor that showed little interest. Although Turkey and the Western Balkan countries have in the meanwhile achieved the most intensive relationship since the dissolution of the Ottoman Empire, Turkey has not yet displayed the economic capacity and political weight that could make it compete with the magnetism of the European Union for Western Balkan countries. Turkish cultural influence, although significantly widened in the last few years, particularly through investments in educational institutions, is mostly limited to the Muslim population in the region. While potential EU membership remains the most important driver for the political elites in the region, the stalled EU membership prospects of both Turkey and the countries of the region might change this in the future.
  • Topic: Cold War, Economics
  • Political Geography: Turkey, Balkans
  • Author: Adam Quinn
  • Publication Date: 07-2011
  • Content Type: Journal Article
  • Journal: International Affairs
  • Institution: Chatham House
  • Abstract: Predictions of 'American decline' have come and gone before, apparently in cycles, leading some to regard it as a cultural trope stemming from domestic insecurities rather than a serious prospect. There is reason to believe, however, that this time is different. Fundamental erosion of the United States' decades-long primacy may finally be at hand, and wise analysis should resist the temptations of contrarianism or denial. Critics of 'declinism' have offered important caveats with which we should qualify any overly simplistic or deterministic portrait of America's trajectory from hegemon to lesser status. This article gives such qualifications due weight while nevertheless seeking to steer our gaze back towards the core truth at the heart of the declinist thesis. That is: unless something very significant changes to jolt the course of events onto a different track, the relative power of the United States—measured in terms of its advantage over others in economic and military capacity—will be shrinking significantly over the decades to come. Happily, the nation's current president seems to have a disposition well fitted to leading the nation into the opening stages of an era of relative decline. President Obama has made headlines in recent months for his boldness in orchestrating the killing of Osama bin Laden. A fuller survey of his foreign policy, however, reveals that its most signal feature has been prudence and circumspection regarding American power and its exercise. Major divergence between the ends pursued and the capacities available for their pursuit is one of the cardinal sins giving rise to strategic failure. It is thus fortunate for the United States that it should have a president who, even if he may not be inclined to cast it in such words himself, seems disposed not to 'rage against the dying of the light' of American primacy, but to practice the admirable art of declining politely.
  • Topic: Economics
  • Political Geography: United States, America
  • Author: Brendan Taylor
  • Publication Date: 07-2011
  • Content Type: Journal Article
  • Journal: International Affairs
  • Institution: Chatham House
  • Abstract: Japan has long been regarded as a central component of America's grand strategyin Asia. Scholars and practitioners assume this situation will persist in the face of China's rise and, indeed, that a more 'normal' Japan can and should take on anincreasingly central role in US-led strategies to manage this power transition. Thisarticle challenges those assumptions by arguing that they are, paradoxically, beingmade at a time when Japan's economic and strategic weight in Asian security isgradually diminishing. The article documents Japan's economic and demographicchallenges and their strategic ramifications. It considers what role Japan mightplay in an evolving security order where China and the US emerge as Asia's twodominant powers by a significant margin. Whether the US-China relationshipis ultimately one of strategic competition or accommodation, it is argued thatJapan's continued centrality in America's Asian grand strategy threatens to becomeincreasingly problematic. It is posited that the best hope for circumventing thisproblem and its potentially destabilizing consequences lies in the nurturing of anascent 'shadow condominium' comprising the US and China, with Japan as a'marginal weight' on the US side of that arrangement.
  • Topic: Security, Economics
  • Political Geography: United States, Japan, China, America
  • Author: Rohan Mukherjee, David M Malone
  • Publication Date: 01-2011
  • Content Type: Journal Article
  • Journal: International Affairs
  • Institution: Chatham House
  • Abstract: India is fast emerging as an important player in regional and international arenas. However, it continues to be beset by a number of security challenges, both internally and externally. On the assumption that India's foreign policy has evolved in step with its domestic politics, this article briefly surveys the evolution of Indian domestic politics and foreign policy before discussing some of the domestic and international (including regional) security challenges India faces today. The article concludes that although economic diplomacy does at present serve India well in projecting power internationally, achieving great power status in the future will rest on the resolution of key political and security challenges.
  • Topic: Security, Foreign Policy, Economics
  • Political Geography: India
  • Author: Paul Cornish, Andrew M. Dorman
  • Publication Date: 03-2011
  • Content Type: Journal Article
  • Journal: International Affairs
  • Institution: Chatham House
  • Abstract: The history of British defence reviews has been one of repeated disappointment: a cycle in which policy failure is followed by a period of inertia, giving way to an attempt at a new policy framework which is then misimplemented by the defence leadership. Each failed defence review therefore sows the seeds of its successor. With this in mind, in 2010 the new coalition government embarked upon an altogether more ambitious exercise: a strategy review comprising a National Security Strategy and a Strategic Defence and Security Review. This article suggests, nevertheless, not only that the 2010 strategy review looks likely to follow past performance, but also that it is coming unstuck at an unprecedented rate. This is a pity since the 2010 review had much to commend it, not least the adoption of a risk-based approach to security and defence policy-making. What is the explanation for this outcome? Is it that the British have, as some have suggested, lost the ability to 'do strategy', if ever they had it? The authors offer a more nuanced understanding of the policy process and argue that the coalition government in fact has a very clear and deliberate strategy—that of national economic recovery. Yet the coalition government cannot allow national defence and security to fail. The authors conclude with an assessment of the options open to the defence leadership as they seek to address the failing 2010 strategy review and suggest a variety of indicators which will demonstrate the intent and seriousness of the political, official and military leadership of the Ministry of Defence.
  • Topic: Security, Economics, Government
  • Political Geography: Britain
  • Author: Amitai Etzioni
  • Publication Date: 05-2011
  • Content Type: Journal Article
  • Journal: International Affairs
  • Institution: Chatham House
  • Abstract: China has recently been criticized for not being a 'responsible stakeholder', not being a good citizen of the international community and not contributing to global public goods. China 'is refusing to be a responsible stakeholder in the international political system, cultivating, as it has been, good relations with some of the world's most odious regimes', according to Robert Kaplan, writing in The Atlantic. An editorial in the Wall Street Journal asserts that 'China won't be a responsible stakeholder' and acts as a 'free-rider'. Observing China's growing assertiveness in foreign policy and purported attempts to undermine the current liberal world order, Elizabeth Economy writes in Foreign Affairs that 'China is transforming the world as it transforms itself. Never mind notions of a responsible stakeholder; China has become a revolutionary power.'
  • Topic: Economics
  • Political Geography: China
  • Author: Harold James
  • Publication Date: 05-2011
  • Content Type: Journal Article
  • Journal: International Affairs
  • Institution: Chatham House
  • Abstract: The geography of power is at present being dramatically transformed, notably by the rapid economic rise of China. What makes international order legitimate in a world in which political and economic foundations are rapidly shifting? This article examines analogies and lessons from a previous transition, from a world order centered on Britain, to a US dominated global order. The article looks at two interpretations of the transition, one by E. H. Carr, the other by Charles Kindleberger. China is beginning to behave in the way expected of a Kindleberger hegemon, but also sees the possibilities of asserting power in a world that in the aftermath of 2008 looks much more like the chaotic and crisis-ridden interwar period as interpreted by E. H. Carr. The challenge for the management of the new international order will lie in the ability of China to embrace the universalistic vision that underpinned previous eras of stability, in the nineteenth century and in the late twentieth century.
  • Topic: Economics, Financial Crisis
  • Political Geography: Britain, United States, China
  • Author: Mehmet Özkan
  • Publication Date: 01-2011
  • Content Type: Journal Article
  • Journal: Journal of Global Analysis
  • Institution: Centre for Strategic Research and Analysis
  • Abstract: Recently we have seen that the middle-sized states are coming together in several forums. The WTO meetings and India-Brazil-South Africa (IBSA) dialogue forum are among those to be cited. Such groupings are mainly economy oriented and whether they will have political output needs to be seen, however, in the future if globalization goes in a similar way as today, we might see more groupings. Those groupings should be seen as reactions to unjust and exclusive globalization. The IBSA Dialogue Forum members have enhanced their relations economically by signing bilateral trade agreements and acting together on economic issues in global forums. If they can hold together, they are creating a market more than ¼ of global population and, if successful, it has a chance to be the engine of growth in the South. Moreover if they can create the biggest market in the South, they would also be influential in the being of the voice of the South. In that sense, this paper addresses the possible ways to develop relations between the IBSA members and economic development in the South, furthermore, implication of the IBSA on global governance and development can be as critical as its contribution to economic development, since the global governing bodies have legitimacy crisis.
  • Topic: Cold War, Economics
  • Political Geography: India, South Africa, Brazil
  • Publication Date: 07-2011
  • Content Type: Journal Article
  • Journal: Journal of Palestine Studies
  • Institution: Institute for Palestine Studies
  • Abstract: C. Friedrich-Ebert-Stiftung and Macro Center for Political Economics, "All of the Above: Identity Paradoxes of Young People in Israel (the 3rd Youth Study): Changes in National, Societal, and Personal Attitudes," Herzliya, Israel, 31 March 2011 (excerpts)
  • Topic: Economics
  • Political Geography: Israel
  • Author: Norbert Scholz
  • Publication Date: 07-2011
  • Content Type: Journal Article
  • Journal: Journal of Palestine Studies
  • Institution: Institute for Palestine Studies
  • Abstract: This section lists articles and reviews of books relevant to Palestine and the Arab-Israeli conflict. Entries are classified under the following headings: Reference and General; History (through 1948) and Geography; Palestinian Politics and Society; Jerusalem; Israeli Politics, Society, and Zionism; Arab and Middle Eastern Politics; International Relations; Law; Military; Economy, Society, and Education; Literature, Arts, and Culture; Book Reviews; and Reports Received. Norbert Scholz Journal of Palestine Studies, Vol. 40, no. 4 (Summer 2011), p. 247 Bibliography of Periodical Literature Buy Print Email LIMITED PREVIEW | PURCHASE FULL Reference and General Al-Azm, Sadik J. “Orientalism, Occidentalism, and Islamism: Keynote Address to 'Orientalism and Fundamentalism in Islamic and Judaic Critique': A Conference Honoring Sadik Al-Azm.” CSSAME 30, no. 1 (2010): 6–13. Ciftci, Sabri. “Modernization, Islam, or Social Capital: What Explains Attitudes toward Democracy in the Muslim World?” Comparative Political Studies 43, no. 11 (Nov. 2010): 1442–70. Hamzawy, Amr. “Arab Writings on Islamist Parties and Movements.” IJMES 43, no. 1 (Feb. 2011): 138–40. Heschel, Susannah, and Timothy Baker. “Transnational Migrations of Identity: Jews, Muslims, and the Modernity Debate.” CSSAME 30, no. 1 (2010): 1–5. Schwedler, Jillian. “Studying Political Islam.” IJMES 43, no. 1 (Feb. 2011): 135–37. Utvik, Bjørn O. “Islamists from a Distance.” IJMES 43, no. 1 (Feb. 2011): 141–43. History (through 1948) and Geography Abu Khashan, Abdul Karim. “Pierre Loti's Journey across Sinai to Jerusalem, 1894.” JQ, no. 43 (Aut. 2010): 18–30. Bianchini, Katia. “The Mandate Refugee Program: A Critical Discussion.” International Journal of Refugee Law 22, no. 3 (Oct. 2010): 367–78. Ginor, Isabella, and Gideon Remez. “A Cold War Casualty in Jerusalem, 1948: The Assassination of Witold Hulanicki.” IJFA 4, no. 3 (Sep. 2010): 137–58. Goldstein, Yossi. “Eastern Jews vs. Western Jews: The Ahad Ha'am-Herzl Dispute and Its Cultural and Social Implications.” Jewish History 24, nos. 3–4 (Dec. 2010): 355–77. Hughes, Matthew. “Assassination in Jerusalem: Bahjat Abu Gharbiyah and Sami Al-Ansari's Shooting of British Assistant Superintendent Alan Sigrist 12th June 1936.” JQ, no. 44 (Win. 2010): 5–13. Khalidi, Issam. “The Coverage of Sports News in 'Filastin' 1911–1948.” JQ, no. 44 (Win. 2010): 45–69. Klieman, Aharon. “Returning to the World Stage: Herzl's Zionist Statecraft.” IJFA 4, no. 2 (May 2010): 75–84. Matar, Nabil. “Couscous or Cartography: A Moroccan Jurist and an English Trader Visit Seventeenth Century Palestine.” JQ, no. 43 (Aut. 2010): 40–52. Shaw, Martin, and Omer Bartov. “The Question of Genocide in Palestine, 1948: An Exchange between Martin Shaw and Omer Bartov.” Journal of Genocide Research 12, nos. 3–4 (Sep. 2010): 243–59. Sicher, Efraim. “The Image of Israel and Postcolonial Discourse in the Early 21st Century: A View from Britain.” IsS 16, no. 1 (Spr. 2011): 1–25. Wallach, Yair. “Creating a Country through Currency and Stamps: State Symbols and Nation-building in British-ruled Palestine.” Nations and Nationalism 17, no. 1 (Jan. 2011): 129–47. Palestinian Politics and Society Abu Sitta, Salman. “The Village of 'Araqeeb in Palestine” [in Arabic]. MDF, no. 86 (Spr. 2011): 111–27. Brown, Nathan J. “Studying Palestinian Politics: Scholarship or Scholasticism?” IJFA 4, no. 3 (Sep. 2010): 47–58. Cantarow, Ellen. “Catching the Palestine Bug: Notes on Journalism and Enlightened Tourism in Palestine.” JQ, no. 43 (Aut. 201 ): 64–70. Chamberlin, Paul. “The Struggle against Oppression Everywhere: The Global Politics of Palestinian Liberation.” MES 47, no. 1 (Jan. 2011): 25–41. Ephron, Dan. “The Wrath of Abbas.” Newsweek (24 April 2011). Foroohar, Manzar. “Palestinians in Central America: From Temporary Emigrants to a Permanent Diaspora.” JPS 40, no. 3 (Spr. 2011): 6–22. Hamdan, Usama (interview). “Hamas 'Foreign Minister' Usama Hamdan Talks about National Reconciliation, Arafat, Reform, and Hamas's Presence in Lebanon.” JPS 40, no. 3 (Spr. 2011): 59–74. Kotef, Hagar. “Objects of Security: Gendered Violence and Securitized Humanitarianism in Occupied Gaza.” CSSAME 30, no. 2 (2010): 179–91. Long, Baudouin. “The Hamas Agenda: How Has It Changed?” MEP 17, no. 4 (Win. 2010): 131–43. Makdisi, Saree. “Palestine Inside Out: An Everyday Occupation” [in Arabic]. MA 33, no. 386 (Apr. 2011): 41–57. Nasrallah, Jana. “Shatila Camp: Memory of War and Marginalization” [in Arabic]. MDF, no. 86 (Spr. 2011): 148–56. Peled, Kobi. “The Well of Forgetfulness and Remembrance: Milieu de mémoire and lieu de mémoire in a Palestinian Arab Town in Israel.” British Journal of Middle Eastern Studies 37, no. 2 (Aug. 2010): 139–58. Sabbagh-Khoury, Areej, and Nadim Rouhana. “The Right of Return from the Perspective of Palestinians in Israel” [in Arabic]. MDF, no. 86 (Spr. 2011): 84–110. Schanzer, Jonathan. “What Palestinians Are Saying Online.” MEQ 18, no. 1 (Win. 2011): 15–24. Shahin, Khalil. “The Palestinian Popular Protest: An Eye for Change and an Eye for Resistance” [in Arabic]. MDF, no. 86 (Spr. 2011): 161–73. Veronese, Guido, Marco Castiglioni, and Mahmud Said. “The Use of Narrative-Experiential Instruments in Contexts of Military Violence: The Case of Palestinian Children in the West Bank.” Counselling Psychology Quarterly 23, no. 4 (Dec. 2010): 411–23.
  • Topic: Economics, Politics
  • Political Geography: Middle East
  • Author: Leo Melamed
  • Publication Date: 09-2011
  • Content Type: Journal Article
  • Journal: The Cato Journal
  • Institution: The Cato Institute
  • Abstract: The story is fairly well known. In 1971, as chairman of the Chicago Mercantile Exchange, I had an idea: a futures market in foreign currency. It may sound so obvious today, but at the time the idea was revolutionary. I was acutely aware that futures markets until then were primarily the province of agriculture and—as many claimed—might not be applicable to instruments of finance. Not being an economist, the idea was in need of validation. There was only one person in the world that could satisfy this requisite for me. We went to Milton Friedman. We met for breakfast at the Waldorf Astoria in New York. By then he was already a living legend and I was quite nervous. I asked the great man not to laugh and to tell me whether the idea was “off the wall.” Upon hearing him emphatically respond that the idea was “wonderful,” I had the temerity to ask that he put his answer in writing. He agreed to write a feasibility paper on “The Need for Futures Markets in Currencies,” for the modest stipend of $7,500. It turned out to be a helluva trade.
  • Topic: Economics
  • Political Geography: New York, Chicago
  • Author: J. Daniel Hammond
  • Publication Date: 09-2011
  • Content Type: Journal Article
  • Journal: The Cato Journal
  • Institution: The Cato Institute
  • Abstract: Chicago School economists have come in for criticism since the financial crisis and so-called Great Recession began in 2007. Commentators have blamed recent problems on a laissez-faire faith in the efficacy of markets and simple rules for business-cycle policy—ideas associated with economics as taught and practiced at the University of Chicago. Events over the past four years, we are told, demonstrate the need for a restoration of Keynesian thinking about business cycles and activist government policies to keep markets from failing. However, there is another aspect of Chicago School economics that is commonly overlooked. This is the conviction that economists' understanding of the business cycle is meager in light of the knowledge necessary for activist countercyclical policy to be effective. From this comes the Chicago School concern that economists and policymakers not attempt to do something beyond their capability. Overreaching can make the problems worse.
  • Topic: Economics, Financial Crisis
  • Political Geography: Chicago
  • Author: Daniel Griswold
  • Publication Date: 09-2011
  • Content Type: Journal Article
  • Journal: The Cato Journal
  • Institution: The Cato Institute
  • Abstract: Let me preface this review with a confession: As an advocate of free trade, I love to link the 1930 Smoot-Hawley tariff bill with the Great Depression at every opportunity. More than 80 years after its passage, the bill still evokes negative feelings about protectionism. After reading Douglas Irwin's Peddling Protectionism: Smoot- Hawley and the Great Depression, I can see I need to curb my enthusiasm. Irwin does not defend the bill, far from it. He concludes that it failed to achieve its objectives and that it did, in an incremental way, make the Great Depression worse. But in the careful language of the professional economist and historian that he is, Irwin documents in rich and often colorful detail that the most infamous trade bill in American history had less impact than either its advocates or its opponents understood at the time or understand today. Even so, the story of Smoot-Hawley offers valuable lessons for today as our politicians seek to craft U.S. trade policy in the 21st century. Irwin is superbly qualified to write the definitive history of what was officially the Trade Act of 1930. A professor of economics at Dartmouth College, he has authored Against the Tide: An Intellectual History of Free Trade (1996), and Free Trade under Fire (3rd ed., 2009).
  • Topic: Economics
  • Political Geography: United States
  • Author: Eldar Sarajlic
  • Publication Date: 09-2011
  • Content Type: Journal Article
  • Journal: Central European University Political Science Journal
  • Institution: Central European University
  • Abstract: The paper tries to examine the effects of economic crisis on philosophical considerations of distributive justice. It tackles the problem of a radical increase in scarcity as a condition of justice. Instead of assuming a relatively fixed (“moderate”) level of scarcity as a background against which justice in distribution obtains, the paper examines what happens when this level risks falling below and how does that change our views of distributive justice. It takes upon the recent events in the United States to construe a specific philosophical model and ask how crisis distribution, where that favors wealthier actors, can be justified. By analyzing the crisis distribution principle, it ultimately aims to suggest that moderate scarcity should not be seen as a mere condition, but an important and vital object of justice. As such it falls within, not beyond legitimate obligations of democratic governance.
  • Topic: Economics
  • Political Geography: United States
  • Author: Ana Dinescu
  • Publication Date: 09-2011
  • Content Type: Journal Article
  • Journal: Central European University Political Science Journal
  • Institution: Central European University
  • Abstract: More than six decades after the end of the Second World War it is hard to imagine the political, social, and human landscapes of Europe in the aftermath of hostilities. In reconstructing this recent past, we can rely on a large bibliography regarding the events from the Western part of the continent. But for what concerns the territory to the east of the Iron Curtain, the appropriate and single case-study documentation remains problematic and thus, topics such as the political, economic and social effects of the first year of the Cold War reconfigurations are still insufficiently explored. It is, for example, the everyday life of the displaced person or the consequences of displacement on the identity reconfiguration of ethnic minorities.
  • Topic: Economics, War, Reconstruction
  • Political Geography: Europe, Soviet Union
  • Author: David C. Kang, Jiun Bang
  • Publication Date: 09-2011
  • Content Type: Journal Article
  • Journal: Comparative Connections
  • Institution: Center for Strategic and International Studies
  • Abstract: South Korea and Japan are neighbors that are advanced, technologically sophisticated capitalist economies with capable and well-educated populations, and are fully consolidated liberal democracies. They share an alliance with the US, and generally view themselves as stalwart regional allies. As has been the case for many years, relations between them during the past four months were relatively stable, with increasingly deep economic relations, voluminous cultural flows, and general agreement on a strategy of isolation toward North Korea. They also share a tendency to provoke each other over their shared history and the ownership of several islets that sit between them. When this happens, the media goes into a frenzy, breathlessly reporting the latest incident. But which is reality? Do the historical disputes meaningfully affect their bilateral relations? On the one hand, yes: they could cooperate more closely on issues such as military coordination and a free-trade agreement. On the other hand, no: it's not at all clear that historical issues are holding up cooperation and relations are deeper across a range of issues.
  • Topic: Economics
  • Political Geography: United States, Japan, South Korea, North Korea
  • Author: Yu Bin
  • Publication Date: 09-2011
  • Content Type: Journal Article
  • Journal: Comparative Connections
  • Institution: Center for Strategic and International Studies
  • Abstract: The summer of 2011 marked two anniversaries for China and Russia. In June, the Shanghai Cooperation Organization (SCO) celebrated its 10th anniversary at the annual SCO Summit in Astana, Kazakhstan. Over the past 10 years, the regional security group has grown fed by its “twin engines” of Russia and China. Immediately following the SCO Summit, President Hu Jintao traveled to Moscow, marking the 10th anniversary of the signing of the Friendship Treaty between Russia and China. There was much to celebrate as Moscow, Beijing, and the SCO have achieved stability, security, and sustained economic development in a world riddled with revolutions, chaos, crises, and another major economic downturn. The two anniversaries were also a time to pause and think about “next steps.” While the SCO is having “growing pains,” China and Russia have elevated their “strategic partnership relations” to a “comprehensive strategic cooperation and partnership.”
  • Topic: Security, Economics
  • Political Geography: Russia, China, Kazakhstan, Moscow
  • Author: Graeme Dobell
  • Publication Date: 09-2011
  • Content Type: Journal Article
  • Journal: Comparative Connections
  • Institution: Center for Strategic and International Studies
  • Abstract: Australia has a close alliance with the US and deep emotional and cultural ties, but the new reality is that the two economies have decoupled. Twice in the past decade the US has gone into recession, but Australia has kept growing; that is a huge change from the 20th-century experience when Australia's fortunes were closely tied to the health of the US economy. Asia now sets Australia's economic temperature, even as the Australian military draws closer to the US through parallel reviews of the posture of their defense forces.
  • Topic: Economics
  • Political Geography: United States, Asia, Australia
  • Author: John David Lewis
  • Publication Date: 09-2011
  • Content Type: Journal Article
  • Journal: The Objective Standard
  • Institution: The Objective Standard
  • Abstract: Examines the essence of this approach and what it's delivered so far.
  • Topic: Economics
  • Political Geography: America
  • Author: Richard M. Salsman
  • Publication Date: 09-2011
  • Content Type: Journal Article
  • Journal: The Objective Standard
  • Institution: The Objective Standard
  • Abstract: As an economic historian sympathetic to free markets, McCloskey knows well that for centuries intellectuals have disdained the moneymaking orientation and commercial ethic of capitalism—and to her credit, she disdains this disdain. Capitalism deserves respect, she argues, for it “has not corrupted our souls” but instead “has improved them” (p. 23). McCloskey seeks to defend capitalism, not mainly by recounting what she acknowledges is its indisputable productive prowess, but by patiently explicating what she considers to be the “bourgeois virtues.” Yet her goal is polemical: to refute leftists who today persist in despising capitalism. She is concerned that her critics will find her case defensive, and justifiably, because McCloskey herself accepts certain anticapitalist premises, even summarizing the theme of her book as “an apology for our bourgeois lives” (p. 56). Yet, why would a political-economic system require an “apology” unless it was presumed guilty? Instead, why would it not be positively and resolutely heralded as a moral ideal? Despite McCloskey's view of the bourgeois life as virtuous, she insists that certain of its crucial motivating elements are decidedly un-Christian, hence suspect. Her hodgepodge of virtues makes for her less-than-emphatic case. McCloskey begins her book by recognizing how both Kantian and utilitarian ethics have been unfriendly (if not hostile) to laissez-faire capitalism, the former by requiring man to subordinate his personal pursuit of happiness to self-sacrificial duty, the latter by condoning hedonism while dismissing man's individual rights. For capitalism to survive and flourish, she contends, the ethics of commercialism must be defended. McCloskey attempts this by drawing on the “virtue ethics” arguments developed in academic philosophic circles since the late-1950s, which seek modernized versions of a more secular Greco-Roman ethics. While much can be said for McCloskey's use of “virtue ethics,” her approach does not ground morality in human nature. McCloskey divides an otherwise rambling and wide-ranging discourse of what she calls the seven main virtues into three main sections (pp. 91–302): the “Christian and Feminine Virtues” (faith, hope, and love), the “Pagan and Masculine Virtues” (courage and temperance), and the “Androgynous Virtues” (prudence and justice). The Christian and feminine virtues she also calls “theological” (p. 152) and pertinent to “the transcendent” and “sacred” (p. 304), while the pagan virtues are said to relate to “the self” and the “profane” (p. 304). Despite lengthy and digressive discussions of these seven virtues, McCloskey does not make clear why they are central to a moral case for capitalism, or why some are derivable from one gender versus another. . . .
  • Topic: Economics
  • Author: Simon Kuper
  • Publication Date: 06-2011
  • Content Type: Journal Article
  • Journal: Americas Quarterly
  • Institution: Council of the Americas
  • Abstract: Fans like their teams—but not necessarily the politicians who support them.
  • Topic: Economics
  • Political Geography: Latin America
  • Author: Min Gyo Koo, Yul Sohn
  • Publication Date: 09-2011
  • Content Type: Journal Article
  • Journal: International Relations of the Asia-Pacific
  • Institution: Japan Association of International Relations
  • Abstract: The Korea–US free trade agreement (KORUS FTA) of 2007 clearly shows how countries simultaneously pursue economic benefits and strategic interests in trade negotiations. This study argues that the surprise launch and the successful conclusion of the KORUS FTA illustrate the joint efforts by the United States and the Republic of Korea to re-securitize their bilateral economic relations. Security and strategic calculations held by top policy-makers on both sides catalyzed the official launch of FTA negotiations by removing a number of longstanding trade irritants such as Korea's screen quotas and ban on US beefs. At the post-negotiation stage, however, the lack of bipartisanship— particularly in the United States—to provide trade liberalization for their allies in favor of their own broader strategic interests has led to the legislative stalemate of executive efforts at re-securitization of trade relations. This study concludes that the stalemated ratification process shows the erosion, not the strength, of US power to provide security and trade liberalization as public goods.
  • Topic: Economics
  • Political Geography: United States, Korea
  • Author: Sheldon W. Simon
  • Publication Date: 09-2011
  • Content Type: Journal Article
  • Journal: International Relations of the Asia-Pacific
  • Institution: Japan Association of International Relations
  • Abstract: A successful edited volume not only requires that the editors recruit qualified specialists for each chapter but also that those editors integrate the separate analyses so that the book displays a coherence beyond the sum of its individual parts. Michael Green and Bates Gill have succeeded admirably on both dimensions: enlisting renowned Asian country specialists and experts on the various types of cooperation that characterize Asian multilateralism. Moreover, their Introduction illuminates how these types relate to one another. Over the past 45 years, Asia has experienced a plethora of multilateral political, economic, and security arrangements – some long-lived and well-institutionalized (ASEAN) and others formed to deal with a specific situation such as the Core Group that provided aid to those countries devastated by the December 2004 tsunami. There is considerable overlap in states ' memberships among these bodies, though they tend to group in a Southeast Asian-led formation centered in ASEAN and a Northeast Asian coterie dealing with North Korea in the Six-Party Talks. An additional transnational dimension may be found in nontraditional security such as infectious diseases, criminal and terrorist activities, piracy and human trafficking, all of which cross national boundaries and are generally seen by Asian states as susceptible to cooperative action. Traditional, hard security concerns – territorial disputes, historical animosities, and resource conflicts – on the other hand, though discussed in a number of multilateral settings, produce a great deal of rhetoric but very little resolution. Another concern, especially for great powers such as the United States and India, is whether East Asian multilateral groups will be inclusive or exclusive – trans-Pacific or Asia only.
  • Topic: Economics, Globalization, National Security
  • Political Geography: United States, Japan, Asia
  • Author: Myriam Benraad
  • Publication Date: 09-2011
  • Content Type: Journal Article
  • Journal: The International Spectator
  • Institution: Istituto Affari Internazionali
  • Abstract: As the US prepares to pull out of Iraq, the 'national reconciliation' process that was launched in the Summer of 2006 remains stalled. The March 2010 legislative elections, which were expected to consecrate the rebuilding of a national pact between Iraqis, have led to even greater fragmentation of Iraq's socio-political landscape. The power sharing agreement ultimately presages more tensions to come. With the essence and reality of the Iraqi 'nation' long debated and subjected to continued deconstruction under the combined effects of authoritarianism, military conflagrations and economic sanctions, it will likely take decades before a genuine reconciliation can come about.
  • Topic: Economics
  • Political Geography: United States, Iraq
  • Author: Shamil Midkhatovich Yenikeyeff
  • Publication Date: 09-2011
  • Content Type: Journal Article
  • Journal: The International Spectator
  • Institution: Istituto Affari Internazionali
  • Abstract: The geographic proximity of Central Asia to Russia, China, the Caucasus and the Caspian region, as well as to the Middle East, makes this oil and gas-producing region a crucial and ever-developing player in regional and global energy markets. The method by which Central Asian producers choose to develop their hydrocarbon resources and export infrastructure will have significant implications for the plans for diversification of oil and gas supplies of Europe, China and India, as well as for Russia's energy exports to Europe. It is still too early to tell whether the economic and political incentives are strong enough to promote cooperation between the various actors or whether the energy interests of these key external powers are so diverse as to clash in Central Asia.
  • Topic: Economics
  • Political Geography: Russia, China, Europe, Central Asia, Asia