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2. Sanctions and the Economic Consequences of Higher Oil Prices
- Author:
- Christof Ruhl
- Publication Date:
- 04-2022
- Content Type:
- Commentary and Analysis
- Institution:
- Center on Global Energy Policy (CGEP), Columbia University
- Abstract:
- Sanctions against the Russian Federation are developing so fast that it is hard to keep track of them and even harder to see a consistent narrative as events unfold. But there is one. Russia is the world’s largest exporter of energy and commodities. A persistent balance of payment surplus is the source of its financial strength, in terms of both current income and the financial assets previously accumulated by “fortress Russia.” Oil, gas, and coal exports constitute the most valuable revenue streams and are therefore prime targets of sanctions policy.[1] The problem is that energy sanctions will backfire badly if they lead to price increases large enough to derail the economic performance of sanctioning countries.
- Topic:
- Economics, Energy Policy, Oil, Natural Resources, and Sanctions
- Political Geography:
- Global Focus
3. Hydrogen: A Hot Commodity Lacking Sufficient Statistics
- Author:
- Anne-Sophie Corbeau
- Publication Date:
- 04-2022
- Content Type:
- Commentary and Analysis
- Institution:
- Center on Global Energy Policy (CGEP), Columbia University
- Abstract:
- Hydrogen has become one of the most debated topics in the energy industry. As an energy vector,[1] hydrogen has been touted as a possible path to decarbonize energy sectors that are considered difficult to electrify, such as heavy-duty transport. While hydrogen expansion faces challenges associated with introducing it into new sectors and decreasing the cost of green (or low-emission) hydrogen, major economies such as China, the EU, and the United States have been looking to integrate its use into their decarbonization strategies.[2] Demand for hydrogen could more than quintuple in a global net-zero-carbon-emissions scenario.[3] Given that hydrogen’s role is expected to increase significantly over the coming decade and expand into new sections of the energy system, it is essential to have more clarity on its current and future demand profile. The energy community is used to relying on statistics for more traditional fuels such as oil or natural gas; they enable analysts and investors to follow market developments, identify trends, and anticipate investment needs and opportunities. For policy makers, they can help to measure progress toward decarbonization objectives or against targets set within their hydrogen strategies as well as help them compare their activity with other countries’ developments. Understanding demand, production, and trade through data transparency is also a key element in energy security.
- Topic:
- Energy Policy, Science and Technology, Decarbonization, and Hydrogen
- Political Geography:
- Global Focus
4. Artificial Intelligence and National Security
- Author:
- Levan Bodzashvili
- Publication Date:
- 01-2021
- Content Type:
- Commentary and Analysis
- Institution:
- Georgian Foundation for Strategic International Studies -GFSIS
- Abstract:
- The purpose of the following article is, on the one hand, to introduce the current trends in the utilization of artificial intelligence in the field of national security and defense and, on the other hand, to initiate a research discussion in order to determine the necessity and the feasibility of the use of artificial intelligence for small countries like Georgia. We will also seek to define its importance at the strategic level in terms of ensuring integration and military compatibility. The article also incorporates strategic initiatives of a recommendatory nature which should be discussed in the security sphere as well as at the level of research organizations and the government. Artificial intelligence (AI) is the fastest growing field of technology which is already one of the top priorities in the national security strategies of most countries. The reason for this is that artificial intelligence technologies can alter the ways war is conducted.1 It enables defense, military, cyber security, intelligence and counterintelligence, information and cyber operations, logistics, manufacturing and strategic management/control of autonomous military vehicles. It has already been used by the United States, Israel, China, Russia and many other countries. Artificial intelligence also plays an important role in anticipating and planning national and geopolitical events such as, for example, the program of the director of the United States Intelligence Agency (IARPA)2 which conducts constant research in this area as well as more than 140 operational and research projects of the Central Intelligence Agency which use artificial intelligence. An important and also revolutionary project is SAGE3 which was developed by the Universities of Fordham, Stanford and Columbia in conjunction with the Intelligence Agency and which predicts geopolitical events through artificial intelligence-based projections. High-precision algorithms enable the predicting of events which is a crucial factor in reinsuring national security risks and threats.
- Topic:
- Defense Policy, National Security, Science and Technology, and Artificial Intelligence
- Political Geography:
- Global Focus
5. Are we facing a wave of conflict in high-income countries?
- Author:
- Sarah Cliffe, Daniel Mack, Céline Monnier, Nendirmwa Noel, Paul von Chamier, and Leah Zamore
- Publication Date:
- 02-2021
- Content Type:
- Commentary and Analysis
- Institution:
- Center on International Cooperation
- Abstract:
- The recent wave of violent protests and unrest across the developed world – the storming of the US Capitol during the electoral college process and the riots in the Netherlands, among others – questions the assumption that high-income countries have become immune to large-scale internal political violence. Are we facing a new wave of high-income conflict? At a minimum, increased violent unrest, political assassinations, and domestic terrorism in the next ten years seem possible, unless governments focus on avoiding impunity and establishing shared understanding of facts, reducing inequality and prejudice, and building institutional resilience. This analysis examines whether these recent events augur a wider shift in conflict risk to high-income countries, akin to the shift seen from low to middle-income countries 20 years ago. Given these events, this analysis systematically reviews conflict risks in high-income countries, as well as offers a framework that has been widely applied in the developing world to examine the risk factors for violent conflict in wealthy countries, including second generation impacts of COVID-19.
- Topic:
- Conflict, Protests, COVID-19, and Civil Unrest
- Political Geography:
- Global Focus and United States of America
6. How can we work towards economic recovery for all? Financing for Development: the issues, challenges, and opportunities in 2021
- Author:
- Sarah Cliffe, Karina Gerlach, and Leah Zamore
- Publication Date:
- 04-2021
- Content Type:
- Commentary and Analysis
- Institution:
- Center on International Cooperation
- Abstract:
- 2021, we all hope, will be the year of recovery. If COVID-19 vaccines are rolled out at scale, including in the developing world, global economic recovery will be large. But that in itself ensures neither that all countries will be included in the recovery, nor that all people within each country will see the gains. A rising tide, as we have seen only too well since US president John F. Kennedy first used the phrase in 1963, does not lift all boats. Elsewhere, CIC has analyzed the high demand for transformative policies in high- and low-income countries alike since the COVID-19 crisis began, including policies for domestic action on inequality and socioeconomic exclusion. This piece takes a more global view and considers how to ensure that all countries benefit, and examines the issues, challenges, and opportunities in financing for development. It looks first at the key political messages that explain why 2021 should be a year of urgent, ambitious global action for shared economic recovery; secondly at the measures under discussion (which are expanded in an annex); thirdly at the political interests at play; and fourthly at foreseeable scenarios for agreement. Last, we outline the calendar of relevant policy meetings this year and the challenge of orchestrating progress between them.
- Topic:
- Governance, Reform, Finance, Multilateralism, and COVID-19
- Political Geography:
- Global Focus
7. It’s Time to Go Back to Basics of Governance
- Author:
- Nanjala Nyabola
- Publication Date:
- 07-2021
- Content Type:
- Commentary and Analysis
- Institution:
- Center on International Cooperation
- Abstract:
- The COVID-19 pandemic is an opportunity to re-evaluate the principles or ideas that are at the heart of theories of government, that is the fundamentals of governance and public theory. What is government for, but also what should government do and how. Engaging with the crucial philosophical questions of governance is integral to building back better: going back to basics is a major step in figuring out how to prevent mistakes from happening again. The social contract is one such principle: the idea of a social contract is central to answering the question of what governments are for: explaining why people obey laws, providing answers to why we live in societies, and why we abide by social rules and norms. Recognizing the ongoing debates, national and international, around the meaning and origins of the term social contract, this paper by Nanjala Nyabola tries to point to some of the important thinking from the south and from non-western sources and traditions that have helped shape modern understanding of social contract theory. It is not intended to be a comprehensive review, in such a short paper, but rather a selection that reflects the richness and variety of such sources and how they have impacted thinking throughout the ages. Overall, looking at ideas of social contracts outside Western philosophical tradition reminds us that it is not just about the form of the social contract or that all political organizations must be identical. These theories also remind us that compulsion and punishment are not a strong foundation for strong systems of governance. We have to create societies that people want to live in.
- Topic:
- Security, Governance, Reform, Fragile States, and Multilateralism
- Political Geography:
- Global Focus
8. Treaty Allies Matter for US Foreign Policy Experts—but They Are Not Indispensable
- Author:
- Sibel Oktay, Paul Poast, Dina Smeltz, and Craig Kafura
- Publication Date:
- 08-2021
- Content Type:
- Commentary and Analysis
- Institution:
- Chicago Council on Global Affairs
- Abstract:
- The Council's polling experts examine how American foreign policy experts think of the term "allies," and whether variations in thinking matter for US foreign policy decisions. “America is back,” President Joseph Biden pronounced at the State Department in February 2021. His comment ostensibly meant the United States was returning to the international fold after leaving a global leadership void during the Trump years. The previous administration had downplayed—even discounted—American alliances as key US foreign policy tools. “We will repair our alliances and engage with the world once again, not to meet yesterday’s challenges, but today’s and tomorrow’s,” Biden stated. At the NATO summit four months later, Biden reiterated his administration’s key message and commitment to the alliance. Emblematic of this commitment, he and British Prime Minister Boris Johnson also signed a “New Atlantic Charter” recommitting both nations to their “alliances and partners.” The United States is unique in the world in terms of security alliances. The country enjoys “the largest and most enduring military footprint” in recent history. From military bases to providing training and material assistance, this footprint is largely enabled through allies. Hence, it is perhaps unsurprising that recent surveys show a perception among Americans that alliances largely benefit the United States. But what is meant by the term “allies”? Given the variety of military partnerships and relationships maintained by the United States, it shouldn’t come as a surprise that the term “ally” is used to describe countries across this range of relationships. Some countries have a formal defensive treaty with the United States, while others are merely recipients of US military financial aid. How do American foreign policy experts think of the term “allies,” and does variation in such thinking matter?
- Topic:
- Foreign Policy, Diplomacy, Public Opinion, Partnerships, and Alliance
- Political Geography:
- Global Focus and United States of America
9. The Remittance Effect: A Lifeline for Developing Economies Through The Pandemic and into Recovery
- Author:
- Oxford Economics
- Publication Date:
- 01-2021
- Content Type:
- Commentary and Analysis
- Institution:
- Oxford Economics
- Abstract:
- The rising value of remittance flows into developing countries in recent years is often not widely appreciated. At a macro level, remittances support growth and are less volatile than other private capital flows, tending to be relatively stable through the business cycle. At a micro level, remittances benefit recipient households in developing countries by providing an additional source of income and lower incidences of extreme poverty. Remittances act as a form of 'social insurance', supporting households' capabilities to resist economic shocks. Remittances help recipient households to increase spending on essential goods and services, invest in healthcare and education, as well as allowing them to build their assets, both liquid (cash) and fixed (property), enhancing access to financial services and investment opportunities. Understanding the role and importance of remittances is particularly important at the current juncture, with the global economy experiencing a uniquely sharp and synchronized shock as a result of COVID-19. This report examines the available evidence on remittance flows and their potential economic effects. The report explores and shows how remittance flows remain a crucial lifeline in supporting developing economies through the current pandemic crisis and into the recovery. Although remittances slowed during the pandemic, they remained more resilient than other private capital flows, making them even more important as a source of foreign inflows for receiving countries. While the World Bank estimates that remittance flows to developing countries (low-and-middle income economies) contracted by 7.0% in 2020, this decline is likely to have been far less severe than the downturn in private investor capital. Looking forward, the World Bank predicts that remittance flows to developing countries will contract by a further 7.5% in 2021. But the outlook remains subject to a high degree of uncertainty with both upside and downside risks. A wider set of dynamics – including central bank data outturns for 2020, economic outlooks for the world economy in 2021, survey data and remittance consumer market fundamentals – suggest that while there are downside risks, there is also potential that 2020 and 2021 will not turn out as weak as predicted by the World Bank and for a period of strong remittance growth in the medium-term as sender economies recover and demand from developing economies remains high.
- Topic:
- Development, Recovery, Economic Development, Pandemic, and COVID-19
- Political Geography:
- Global Focus
10. Freeing Fiscal Space: A human rights imperative in response to COVID-19
- Author:
- Ignacio Saiz
- Publication Date:
- 01-2021
- Content Type:
- Commentary and Analysis
- Institution:
- Institute for Development and Peace
- Abstract:
- Of the many dimensions of inequality that the COVID-19 pandemic has magnified, inequality between countries is one of the most glaring, yet one of the least effectively addressed. While the pandemic’s immediate health impacts have been felt in countries across all income levels, its eco- nomic consequences have been particularly dev- astating in countries of the Global South. Fuelling these inequalities is the disparity of resources that countries count on to respond to the crisis. International cooperation has never been more essential to address this disparity and enable all countries to draw on the resources they need to tackle the pandemic and its economic fallout. Besides the provision of emergency financial support, wealthier countries and international financial institutions (IFIs) need to cooperate by lifting the barriers their debt and tax policies and practices impose on the fiscal space of low- and middle-income countries. As this article explores, such cooperation is not only a global public health imperative. It is also a binding human rights obli- gation. Framing it as such could play an impor- tant role in generating the accountability and political will that has so far been sorely lacking.
- Topic:
- Fiscal Policy, Public Health, Pandemic, and COVID-19
- Political Geography:
- Global Focus