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42. China’s Export Success: Due to Unfair Practices or Fair Competition?
- Author:
- Rolf Langhammer
- Publication Date:
- 10-2019
- Content Type:
- Policy Brief
- Institution:
- Norwegian Institute of International Affairs
- Abstract:
- Compared with previous ratings, China’s trade policy today is more positively acknowledged. Yet, China can still be criticised in particular because of its non-transparent subsidy policy, the privileged role of state-owned enterprises, the heavy hand of the state in general, the sluggish enforcement of intellectual property rights, and the prevalence of non-tariff barriers. Yet, it cannot be ignored that Chinese entrepreneurship mentality is highly developed outside state interference in world markets. Especially, in the digital economy, high motivation and a large pool of human skills act as drivers of innovations, so far mainly process innovations. The trade war with the US hurts China and is responded by China with asymmetrical retaliation. The more Chinese exports to the US in total are affected, the more costs will have to be borne by US consumers as options to shift to alternative suppliers become weaker. What President Trump would see as a “good” deal for the US is unclear. It can be thus presumed that the trade war will continue into 2020 and that it is in fact a tech war. The EU is affected as EU companies produce in China for the US market and in the US for the Chinese market. While it might gain from trade diversion effects in the short run, the negative effects on investment due to uncertainty weigh more heavily. The EU is tempted to negotiate a free trade agreement with China but rightly refuses to start negotiations before China is prepared to conclude an agreement on investment. The EU should not see China and the US on equidistance. Workable relations with the US are much more important. To conclude, China’s trade policy has improved relative to Western standards but still warrants further steps towards much less state influence. Yet, its global competiveness especially in the state-of-the-art digital economy is high and is owed to a strong entrepreneurial mentality.
- Topic:
- Economics, European Union, Asia, Exports, Trade, and Strategic Competition
- Political Geography:
- China, Europe, Asia, and United States of America
43. An Expanded View of Government’s Role in Providing Social Insurance and Investing in Children
- Author:
- Sandra E. Black and Jesse Rothstein
- Publication Date:
- 01-2019
- Content Type:
- Policy Brief
- Institution:
- Economics for Inclusive Prosperity (EfIP)
- Abstract:
- While private provision of goods often yields the efficient outcome, there are a number of goods that are not efficiently provided in the private market. Here, we outline two such situations: investments in child care and education, and insurance against risks created by business cycles, poor health, and old age. Because private markets work poorly for these goods, and the costs of market failure are large, standard economic reasoning implies a significant role for government provision. The reduction in economic insecurity that this would bring could help to improve political stability as well, by reducing the stakes that people perceive in discussions of trade, immigration, technological change, and countercyclical policy (Inglehart and Norris, 2016). Many observers (e.g, Hacker, 2018) have pointed to economic anxiety as a potential contributor to populist reactions in the U.S. and many European countries; a public sector that acts to reduce the risk that households face could ameliorate this, generating political spillovers and improving the state of the country more broadly.
- Topic:
- Economics, Education, Health, Health Care Policy, Children, Economic Policy, and Economic Theory
- Political Geography:
- United States and Europe
44. The State of the National System of Innovation in Swaziland
- Author:
- Eswatini Economic Policy Analysis and Research Centre
- Publication Date:
- 03-2018
- Content Type:
- Policy Brief
- Institution:
- Eswatini Economic Policy Analysis and Research Centre (ESEPARC)
- Abstract:
- Swaziland, in the National Development Strategy (NDS), aspires to achieve development through investments in science, technology, and innovation (STI). However, using innovation to uplift the country from poverty and tackle economic growth requires investment in research and experimental development (R&D), human capital development, and the establishment of relevant institutions and governing bodies to direct scientific and technological development which are currently missing. Due to low investments in innovation and R&D, the lack of funding sources, absence of a national STI strategy and R&D agenda, and low collaboration between institutions, the country is struggling to propel STI-driven development. As a result, Swaziland is largely a consumption-based economy, with high imports and low exports, and the domestic industry is underdeveloped. The implication is that as economies grow and become more competitive, Swaziland will continue to remain behind. Hence, to use STI to drive social and economic development the country needs to affirm this concession by developing a national STI strategy. Establishing a Ministry of Science, Technology, and Innovation would enhance the coordination of STI activities and manage the funding and implementation of STI policies.
- Topic:
- Development, Economics, Science and Technology, and Innovation
- Political Geography:
- Europe and Switzerland
45. The Economic Impact of Gatwick Airport
- Author:
- Pete Collings and Osman Ismail
- Publication Date:
- 01-2017
- Content Type:
- Policy Brief
- Institution:
- Oxford Economics
- Abstract:
- Oxford Economics were appointed by the Gatwick Growth Board (GGB) to provide an independent assessment of Gatwick Airport's local, regional and national impact. The GGB was established in 2016 to examine the economic and social consequences of Gatwick Airport’s future plans for growth and expansion. The resulting study represents the most detailed assessment to date of Gatwick's economic footprint, and will provide evidence for the GGB's strategic work over the coming year. It finds that Gatwick Airport’s operations and services deliver very significant economic benefits for the UK, with its national GDP contribution reaching £5.3 billion in 2016, equivalent to 0.3% of the UK's total. Some 43 million passenger journeys passed through Gatwick during that year, underlining its position as a key component of national infrastructure. In addition, the report measures the Airport's wider impact, beyond its direct transport benefits to passengers and airlines. At the centre of a complex network of supply chains, Gatwick Airport enables activity throughout the Gatwick Diamond area, and beyond. The salaries sustained by employment at the Gatwick site also provide an invaluable contribution to the local consumer economy. The study also explores the potential for the Airport to deliver an even greater economic contribution in future.
- Topic:
- Economics, Tourism, Transportation, and Airline Companies
- Political Geography:
- United Kingdom and Europe
46. Making the best of Brexit for the EU27 financial system
- Author:
- Andre Sapir, Dirk Schoenmaker, and Nicolas Veron
- Publication Date:
- 02-2017
- Content Type:
- Policy Brief
- Institution:
- Bruegel
- Abstract:
- The United Kingdom’s exit from the European Union creates an opportunity for the remaining EU27 to accelerate the development of its financial markets and to increase its resilience against shocks. Equally, Brexit involves risks for market integrity and stability, because the EU including the UK has been crucially dependent on the Bank of England and the UK Financial Conduct Authority for oversight of its wholesale markets. Without the UK, the EU27 must swiftly upgrade its capacity to ensure market integrity and financial stability. Furthermore, losing even partial access to the efficient London financial centre could entail a loss of efficiency for the EU27 economy, especially if financial developments inside the EU27 remain limited and uneven.
- Topic:
- Economics, International Political Economy, International Trade and Finance, Political stability, and Brexit
- Political Geography:
- Britain and Europe
47. Why is it so hard to reach the EU’s ‘poverty’ target?
- Author:
- Zsolt Darvus
- Publication Date:
- 01-2017
- Content Type:
- Policy Brief
- Institution:
- Bruegel
- Abstract:
- The ‘poverty’ target set by the European Commission aims to lift “over 20 million people out of poverty” between 2008 and 2020 in the EU27. Progress to date against this target has been disappointing. Why is it so hard to reach the Europe 2020 ‘poverty’ target? What does the poverty indicator actually measure?
- Topic:
- Economics, International Political Economy, International Trade and Finance, and Poverty
- Political Geography:
- Europe
48. The Russian Reality Check on Turkey's Gas Hub Hopes
- Author:
- Morena Skalamera
- Publication Date:
- 01-2016
- Content Type:
- Policy Brief
- Institution:
- Belfer Center for Science and International Affairs, Harvard University
- Abstract:
- On Nov 24, 2015, Turkey shot down a Russian fighter jet after it veered into its airspace for 17 seconds. On December 13, a Russian ship fired warning shots at a Turkish vessel in the Aegean Sea. Bilateral tensions, with overt military dimensions, have seemed to quickly replace the goodwill that characterized relations only a year ago. Over the past few weeks, experts and observers have debated whether this incident will jeopardize deep Turkish-Russian energy cooperation—and whether newfound tensions between Moscow and Ankara will thwart Turkey’s ambition to transform itself into an energy hub. A closer look suggests grounds for both optimism and pessimism. Given the deep interests of both parties in continuing energy cooperation, and the mutual nature of the dependency, tensions over Syria are unlikely to adversely impact energy cooperation in a fundamental way. Turkey, however, is unlikely to realize its vision of an energy hub—not because of Russia, but because of a combination of domestic and other geopolitical factors.
- Topic:
- International Relations, Security, Economics, Energy Policy, Oil, Geopolitics, Gas, and Trade
- Political Geography:
- Russia, Europe, and Turkey
49. EU Pressure Insufficient to Gain U.S. Visa Waiver for Poles
- Author:
- Marek Wasinski
- Publication Date:
- 04-2016
- Content Type:
- Policy Brief
- Institution:
- The Polish Institute of International Affairs
- Abstract:
- In a communication of 12 April, the European Commission assessed the potential political and economic consequences of suspending visa exemption for U.S. citizens. Lacking pressure from individual EU Member States, the Commission discouraged such a move and gave the EU Council and European Parliament three months to take an official position. It seems almost certain that the measure of applying pressure on a non-EU country will not be used to help Poland and four other Member States obtain visa-free travel to the United States or other countries with a similar restriction. However, if current trends continue, Poland should join the U.S. Visa Waiver Programme in five years.
- Topic:
- Economics, Politics, European Union, and Citizenship
- Political Geography:
- United States and Europe
50. How ASEAN’s Transformation Can Play Out Well for Europe
- Author:
- Damian Wnukowski
- Publication Date:
- 02-2016
- Content Type:
- Policy Brief
- Institution:
- The Polish Institute of International Affairs
- Abstract:
- The transformation of ASEAN into an economic community is a significant step in the organisation’s integration process. The project, formally launched at the beginning of 2016, aims at creation of a single market of more than 620 million people, loosens the flow of goods, services and investment, which should underpin regional economic growth and catch the attention of foreign businesses. However, obstacles to economic cooperation remain, such as limitations on the movement of labour or capital, which shows that the integration process is not yet complete. The EU, which can benefit from a well-functioning market in this region, should share its own experience to support the ASEAN integration process.
- Topic:
- Economics, International Trade and Finance, Markets, Politics, and Labor Issues
- Political Geography:
- Europe