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Begin New Search Topic Economics Political Geography United States of America Content Type Commentary and Analysis Publication Year within 10 Years

1. The EU–US Data Protection Framework: Balancing Economic, Security and Privacy Considerations

Author:
Federica Marconi
Publication Date:
09-2023
Content Type:
Commentary and Analysis
Institution:
Istituto Affari Internazionali
Abstract:
The rapid evolution of digital technology has ushered in a data-centric economy, where data accessibility drives marketplace efficiency and economic growth across various industries. However, this shift, while offering numerous benefits, introduces significant privacy and data security challenges, particularly in the context of transatlantic data transfers. Considering the vast economic ties between the EU and the US, the transatlantic data flow vividly illustrates the complexities involved in governing and transferring data. It grapples with the ongoing challenge of striking a satisfactory balance between economic advantages stemming from data utilisation and various concerns pertaining to national security, digital sovereignty and individual rights. In recent years, the European Commission approved two different frameworks on transatlantic data flow – Safe Harbour in 2000[1] and Privacy Shield in 2016[2] – asserting that the US provided a level of data protection for data transfers essentially equivalent to that guaranteed in the EU. However, despite initial optimism, both adequacy decisions faced a significant setback when the Court of Justice of the European Union invalidated them in what is commonly referred to as the “Schrems saga”,[3] named after the Austrian activist who first challenged both frameworks before the European Court. The core arguments centred on the absence of adequate safeguards for personal data within US domestic law and the extent of state surveillance over such data when it was transferred, as initially disclosed by Edward Snowden in 2013.[4] This legal development led to a period of significant uncertainty and further heightened the ongoing debate concerning the regulation of transatlantic data transfer. To address the consequences of this legal turmoil, both EU and the US committed to establishing “a renewed and sound framework for transatlantic data flows”,[5] seeking a long-term solution to address the complexities of data privacy and security, eventually leading to the recently adopted EU–US Data Privacy Framework (“DPF”).
Topic:
Security, Economics, Political Economy, European Union, Privacy, Transatlantic Relations, and Digital Policy
Political Geography:
Europe and United States of America

2. World economy in spring 2021: Recovery stays on track

Author:
Klaus-Jurgen Gern, Philipp Hauber, Stefan Kooths, and Ulrich Stolzenburg
Publication Date:
03-2021
Content Type:
Commentary and Analysis
Institution:
Kiel Institute for the World Economy (IfW)
Abstract:
The global economy continued to recover in the winter semester, despite the number of new infections with the coronavirus rising sharply and containment measures tightened again in many countries. Industrial production and world trade have already fully catched up with activity levels before the pandemic and appear to be little affected by the second wave of Covid-19. While the European economy did slip into recession again, the decline in GDP is not expected to be dramatic and should be followed by a strong recovery from spring onward, provided that progress in vaccination allows a substantial and sustained relaxation of measures designed to suppress the virus. In the course of this year, the global upturn will thus increasingly extend to economic sectors that remain severely impeded for the time being, such as tourism and entertainment, and to economies that are particularly geared to these activities. On a purchasing power parity basis, global output is expected to increase by 6.7 percent in 2021 and by 4.7 percent in 2022, thus progressively closing the gap to the pre-crisis path of activity towards the end of the forecast period. We have raised our December forecast by 0.6 percent for both this year and next, with a particularly strong improvement in the outlook for the United States. World trade in goods is expected to grow by 7.5 percent this year. With growth of 4.7 percent this year and next, respectively, Towards the end of the forecast horizon world trade will thus be even higher than expected before the crisis.
Topic:
Economics, International Trade and Finance, Forecast, Economic Growth, Pandemic, and COVID-19
Political Geography:
North America and United States of America

3. The internet of things: China’s rise and Australia’s choices

Author:
John Lee
Publication Date:
12-2021
Content Type:
Commentary and Analysis
Institution:
Lowy Institute for International Policy
Abstract:
The Internet of Things (IoT) is connecting a growing range of economic and social activity across national borders, while simultaneously expanding the security challenges implied by these connections, including to Chinese state power. Despite US-led efforts to exclude Chinese actors from digital networks worldwide, the economies of East and Southeast Asia are becoming more densely integrated with China through evolving IoT ecosystems and supply chains. These trends threaten to disadvantage Australia and require policies to build up the country’s own technological capacities while devising innovative ways to manage, rather than avoid, the risks entailed in growing digital connections with China.
Topic:
Security, Economics, Science and Technology, Internet of Things, and Supply Chains
Political Geography:
China, Asia, Australia, and United States of America

4. The Concerts and Live Entertainment Industry: A Significant Economic Engine

Author:
Michael Mariano and Adam Sacks
Publication Date:
07-2021
Content Type:
Commentary and Analysis
Institution:
Oxford Economics
Abstract:
We all remember our first concert or seeing our favorite band live, but rarely do we think of the stagehands, lighting techs, and ushers who worked hard to deliver these memorable experiences or the impact they have on our local, state, and national economies. In order to better understand the economic impact this important industry has across the United States, Oxford Economics developed a customized framework to analyze the impact of the concerts and the live entertainment industry's nationwide economic contributions in 2019 and conducted an in-depth analysis of the economic impacts of live event venues, artists, and visitor spending in terms of economic output, labor income, taxes, and jobs. Due to the pandemic putting a pause on live events in 2020, this report examined 2019 data to ensure a complete analysis could be conducted that is in line with regular performance of the industry. The industry drives significant economic activity that supports businesses, households, and government finances across the United States. In the wake of COVID-19, live events were shut down for over a year. Beyond the cultural loss involved, the US economy has incurred massive losses in GDP, employment, household income, and tax revenue due to the absence of live events. After a year of isolation, many crave getting back to enjoying memorable live experiences safely in 2021 and into the 2022 and 2023 seasons, which position the industry for growth in the coming years. The Concerts and Live Entertainment Industry, as defined by this report, includes all live musical performances, such as festivals and concerts, and comedy shows held in amphitheaters, clubs, theaters, arenas, stadiums, and other venues. Not included in this analysis are theater, Broadway, sporting events, and family shows.
Topic:
Economics, Culture, Music, popular culture, and Entertainment
Political Geography:
North America and United States of America

5. Germany Between a Rock and a Hard Place in China-US Competition

Author:
Markus Jaeger
Publication Date:
03-2021
Content Type:
Commentary and Analysis
Institution:
German Council on Foreign Relations (DGAP)
Abstract:
The Biden administration has just issued its Interim National Security Strategic Guidance. The guidance document states the need to “build back better at home” and acknowledges that “international economic policies must serve all Americans” – a theme often referred to as “foreign policy for the middle class”. While the interim guidance does not preclude cooperation with China in selected policy areas, it is unambiguous in considering China a strategic competitor. The prospect of intensifying China-US geopolitical and (geo)economic competition is bad news for Germany, which has high value trading and investment relationships with both countries.
Topic:
Foreign Policy, Economics, National Security, and Geopolitics
Political Geography:
China, Europe, Asia, Germany, North America, and United States of America

6. Methane Emission Controls: Redesigning EPA Regulations for Greater Efficacy

Author:
Robert Kleinberg
Publication Date:
10-2021
Content Type:
Commentary and Analysis
Institution:
Center on Global Energy Policy (CGEP), Columbia University
Abstract:
Natural gas holds a critical role in the US energy economy, providing 32 percent of primary energy evenly distributed among electric power generation, industrial use, and residential and commercial consumption (LLNL 2020). As countries set targets to minimize climate change, however, widespread reliance on fossil fuels, with their attendant greenhouse gas emissions, is being scrutinized. Methane, the main constituent of natural gas, is second only to carbon dioxide in its contribution to greenhouse gas warming (Kleinberg 2020). It holds the potential to be a primary driver of global average temperature change between now and 2050—no matter what progress is made in controlling increases of atmospheric carbon dioxide over the next thirty years (Shindell et al. 2012). Half of global methane emissions come from natural sources, such as swamps and seeps, and half from anthropogenic sources, such as agriculture and fossil fuels. Regulations curbing methane emissions from the oil and gas industry are essential to mitigating global climate change over the next three decades. In the United States, current regulations were devised at a time when the technology for the measurement of natural gas emissions was relatively immature. Comprehensive performance-based regulations were not an option, and because of this, many regulations put in place were highly prescriptive. Data show these regulations have been largely ineffective. This commentary examines the potential to reduce emissions of methane from oil and natural gas infrastructure. It begins with a brief history of natural gas regulations and the effectiveness of rulemaking, before exploring unregulated and underregulated sources of methane. This is followed by a discussion about improvements in measurement capabilities and how regulations could be used to more effectively address methane emissions. This work shows the complexities of oil and gas production do not lend themselves to prescriptive regulation. Performance-based regulation, including quantitative compliance monitoring, would engage the talents of thousands of engineers, encouraging them to solve problems using locally appropriate solutions rather than relying on a prescriptive checklist approach that cannot anticipate every eventuality. The key to performance-based regulation is accurate measurement, and this capability has improved rapidly in recent years. Aircraft-based, facility-scale measurements encompassing tens of thousands of facilities spread over tens of thousands of square kilometers are economically viable and increasingly common. Permanently installed continuously monitoring sensors show promise in detecting intermittent sources; oil field pilot studies are underway. However, aircraft- and ground-based facility-scale measurements are not compliant with the current regulatory regime, which focuses on individual components. Therefore, the current regulatory regime must be completely rethought. (A comprehensive exposition of this topic, with evidentiary support, has been submitted to the Environmental Protection Agency [Kleinberg 2021b].)
Topic:
Economics, Energy Policy, Natural Resources, Gas, and Methane
Political Geography:
North America and United States of America

7. The Economic Impact of McCarran (Las Vegas) Airport

Author:
Oxford Economics
Publication Date:
01-2020
Content Type:
Commentary and Analysis
Institution:
Oxford Economics
Abstract:
McCarran and its sister airports bring widespread benefit to the Las Vegas region. Oxford Economics found that 25% of all jobs in the region are supported by airport operations and that the benefit is widespread. For example, passengers arriving by air support over 115,000 jobs in the hospitality and leisure industry and 11,000 jobs in manufacturing and related activities are supported by cargo operations. Just as importantly, direct access from McCarran to global markets help Las Vegas diversify its economy and attract new companies to the region.
Topic:
Economics, Tourism, Job Creation, and Travel
Political Geography:
North America, United States of America, and Las Vegas

8. Rethinking Fiscal Policy: Progressive US Politics Meets Radical Economics

Author:
Stephen Grenville
Publication Date:
07-2019
Content Type:
Commentary and Analysis
Institution:
Lowy Institute for International Policy
Abstract:
Recognition of the need for greater government intervention in the economy is increasingly shaping the US political debate, with this shift paralleled among prominent economists. The surprising success of Bernie Sanders’ 2016 presidential campaign has emboldened Democratic presidential hopefuls to advocate bold platforms involving larger government. Coincidentally, some prominent economists are advocating greater government expenditure to address ‘secular stagnation’. This is unlikely to result in a radical shift away from the post-Reagan small-government policies, but the centre of gravity has shifted towards recognising a role for more government intervention.
Topic:
Economics, Politics, Elections, and Fiscal Policy
Political Geography:
North America and United States of America

9. East Asia's Decoupling

Author:
Roland Rajah
Publication Date:
01-2019
Content Type:
Commentary and Analysis
Institution:
Lowy Institute for International Policy
Abstract:
East Asia is no longer reliant on US or Western markets to fuel its growth, giving it more room to manage amid global trade tensions. Heightened global trade tensions and the US desire to ‘decouple’ from the Chinese economy for national security reasons pose significant risks to East Asia’s export-driven growth model. However, the latest data suggests East Asia is no longer so dependent on exporting to the West, with China in particular eclipsing the United States as the leading source of ‘final demand’ for the rest of the region’s exports. This gives East Asia much greater room to manoeuvre, as regional integration is now a more viable platform for growth while US decoupling efforts will likely struggle to find traction in the region.
Topic:
Economics, International Trade and Finance, Global Markets, and Exports
Political Geography:
China, East Asia, Asia, North America, and United States of America

10. Political Signals: Why Are Some Countries Abandoning the Dollar in Their Foreign Trade?

Author:
FARAS
Publication Date:
10-2018
Content Type:
Commentary and Analysis
Institution:
Future for Advanced Research and Studies (FARAS)
Abstract:
Several Middle Eastern countries, such as Turkey and Iran, have been recently shifting into international currencies or local currencies, instead of the US dollar, in their foreign trade. This shift comes amid the US economic sanctions on Iran in tandem with its souring relations with Turkey. What is striking in this regard is that there is an international acceptance of other currencies, especially the Chinese yuan, with the pricing of some oil contracts in the same currency. This move seems to have a particular political significance, namely rejecting the impact of the US dollar on the trade of these countries rather than its economic feasibility, amid the sharp fluctuations in the local currencies of Iran, Turkey, and India in the past period.
Topic:
Economics, International Trade and Finance, Currency, and Trade Policy
Political Geography:
Russia, China, Iran, Eurasia, Middle East, North America, and United States of America