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  • Author: Anton Malkin
  • Publication Date: 01-2021
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: China’s journey from being a technological backwater to a technological superpower was fuelled, in part, by the success of its venture capital (VC) sector in supporting start-ups. Its VC market is now the second largest in the world after that of the United States. As of 2019, China produced more “unicorns” (privately held, rapidly growing, early-stage technology companies valued at US$1 billion or more) than the United States. Policy makers can learn the following lessons from China’s growing VC sector: China’s use of labour market incentives promotes reverse migration of highly educated expatriates; weak intellectual property protection is not necessarily a deterrent to VC funding, especially in developing countries; government finance, when used appropriately, can help direct VC toward promising technology firms; and an emerging market does not need to wait until it becomes financially developed in order to create funding channels to support start-ups and entrepreneurship.
  • Topic: Science and Technology, Hegemony, Finance, Venture Capital
  • Political Geography: China, Asia
  • Author: Hanzhi Yu, Yang Xue
  • Publication Date: 03-2021
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Cutting-edge biotechnology, mainly consisting of gene editing, gene drives and gene synthesis, is developing and changing rapidly. It acts as a double-edged sword, bringing benefits to human development in many fields, such as medical treatment and agriculture, while also posing serious threats to biological security, human existence and development. For example, the case of He Jiankui, a young scholar from the Southern University of Science and Technology of China who created gene-edited babies, triggered a global controversy and debate on biosafety in the winter of 2018. This paper argues that the problems China faces do not only exist in China — they are in fact common problems faced by all countries in the world. Due to the COVID-19 pandemic, the world is paying close attention to global health governance and biosafety issues. There is a window of opportunity for global collaboration to deal with biosecurity threats.
  • Topic: Security, International Cooperation, Science and Technology, Biotechnology
  • Political Geography: China, Asia
  • Author: Alex He
  • Publication Date: 05-2021
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: This paper reviews the strategies and plans, policy-making institutions, process and problems in China’s techno-industrial development. Although it has made noticeable progress in some areas in the past two decades, China still lags behind in most core technology and advanced manufacturing fields, such as high-end chips. There have been several real breakthroughs in the semiconductor sector by private companies such as HiSilicon and rapid advancement in frontier technologies — artificial intelligence, fifth-generation wireless communication network technology, big data, blockchain and the Internet of Things — by private companies such as Huawei, Tencent, Alibaba and Baidu; however, state-sponsored technological innovation and breakthroughs have been crippled by the existing problems in China’s science and technology research system and a campaign-style catch-up strategy that rewards bureaucrats on short-term goals, as well as by weak links between academic research and industry and a swing between the market-oriented approach for technology acquisitions and indigenous innovation for technology breakthroughs. A case study of China’s semiconductor industry demonstrates both the problems and progress in China’s techno-industrial development, as well as the implications for the country's prospects of evolving into a technological powerhouse.
  • Topic: Development, Science and Technology, Artificial Intelligence, Industry, 5G
  • Political Geography: China, Asia
  • Author: Dieter Ernst
  • Publication Date: 03-2020
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: This special report assesses the challenges that China is facing in developing its artificial intelligence (AI) industry due to unprecedented US technology export restrictions. A central proposition is that China’s achievements in AI lack a robust foundation in leading-edge AI chips, and thus the country is vulnerable to externally imposed supply disruptions. The COVID-19 pandemic has further decoupled China from international trade and technology flows. Success in AI requires mastery of data, algorithms and computing power, which, in turn, is determined by the performance of AI chips. Increasing computing power that is cost-effective and energy-saving is the indispensable third component of this magic AI triangle. Research on China’s AI strategy has emphasized China’s huge data sets as a primary advantage. It was assumed that China could always purchase the necessary AI chips from global semiconductor industry leaders. Until recently, AI applications run by leading-edge major Chinese technology firms were powered by foreign chips, mostly designed by a small group of top US semiconductor firms. The outbreak of the technology war, however, is disrupting China’s access to advanced AI chips from the United States. Drawing on field research conducted in 2019, this report contributes to the literature by addressing China’s arguably most immediate and difficult AI challenges. The report highlights China’s challenge of competing in AI, and contrasts America’s and China’s different AI development trajectories. Capabilities and challenges are assessed, both for the large players (Huawei, Alibaba and Baidu) and for a small group of AI chip “unicorns.” The report concludes with implications for China’s future AI chip development.
  • Topic: Energy Policy, Science and Technology, Sanctions, Artificial Intelligence
  • Political Geography: United States, China, Asia, North America
  • Author: Dan Ciuriak, Maria Piashkina
  • Publication Date: 04-2020
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The rapid digital transformation occurring worldwide poses significant challenges for policy makers working within a governance framework that evolved over centuries. Domestic policy space needs to be redefined for the digital age, and the interface with international trade governance recalibrated. In this paper, Dan Ciuriak and Maria Ptashkina organize the issues facing policy makers under the broad pillars of “economic value capture,” “sovereignty” in public choice and “national security,” and outline a conceptual framework with which policy makers can start to think about a coherent integration of the many reform efforts now under way, considering how policies adopted in these areas can be reconciled with commitments under a multilateral framework adapted for the digital age.
  • Topic: International Trade and Finance, Reform, Digital Economy, Multilateralism, Digitization
  • Political Geography: United States, China, Europe, Asia, North America
  • Author: Jeremy de Beer
  • Publication Date: 10-2020
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: To remain competitive on a global scale, Canada needs to enhance its domestic intellectual property (IP) and digital trade strategies with an international approach that can respond to constantly changing global economic conditions. Although Canada launched its Intellectual Property Strategy in 2018 — focusing on IP awareness, strategic tools and legislation — its data initiative, known as the Digital Charter, remains a work in progress. Both policies would benefit from an outward-looking, interconnected, international strategic vision. As a member of various international trade agreements, Canada has framed its IP laws to align with these agreements and its trade partners. Canada should expand its trade relationships with Africa before other countries, such as China, take advantage of the continent’s rapidly growing economies and trade opportunities. Building strategic alliances with the right global partners, combined with the use of hard and soft laws to promote Canadian interests, will help Canada strengthen its international IP and digital trade strategy.
  • Topic: International Cooperation, Intellectual Property/Copyright, Digital Economy, Trade
  • Political Geography: China, Canada, Asia, North America
  • Author: Honzhi Yu, Hongying Wang
  • Publication Date: 02-2019
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: In contrast to the growing profile of the Chinese government in global governance, the engagement of Chinese industrial actors in global rule making is quite limited and uneven. Some Chinese industrial leaders have shown an ambition to participate in global rule making in their respective realms; most of the others still lack interest or capacity. This policy brief identifies three plausible sources of variation among the Chinese industrial actors. It offers suggestions to Chinese industrial actors and to those concerned about China’s role in global governance, with the purpose of reducing misunderstanding and building trust between Chinese industrial actors and businesses, regulators, non-governmental organizations and stakeholders from other parts of the world in developing global standards for good governance.
  • Topic: Development, Industrial Policy, Governance
  • Political Geography: China, Asia
  • Author: Olena Ivus, Marta Paczos
  • Publication Date: 05-2019
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: In recent years, Canada has adopted the Comprehensive Economic and Trade Agreement (CETA), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Canada-United States-Mexico Agreement (CUSMA). Like other modern international trade agreements, CETA, the CPTPP and the CUSMA include protections for innovators’ profits and technologies in the form of intellectual property rights (IPRs) regulations. These trade agreements will have a first-order impact on the volume and composition of trade in goods and innovation with sensitive intellectual property (IP) in Canada, as well as having an impact on global welfare distribution. But is Canada’s membership in these agreements good for Canadian firms looking to compete globally? This paper begins with a review of the IP protections instituted through recent trade deals involving Canada. It discusses the nature and scope of Canada’s IP obligations under CETA, the CPTPP and the CUSMA and explains how these obligations fit within the current Canadian legal framework. The changes in the standards of IPRs under these agreements will have a first-order impact on the volume and composition of trade in IP-sensitive goods, innovation and global welfare distribution and so deserve thorough debate. The paper then proceeds with a broader discussion of the reasons to include IP provisions in international trade agreements and the rationale for international coordination of the IPRs policy. Next, the paper discusses how IP provisions in trade agreements limit the freedom to use IP policy to promote national interests, while acknowledging that the various IP obligations are counterbalanced by several flexibilities, including the right to establish local exhaustion policies. The paper concludes with policy recommendations.
  • Topic: International Trade and Finance, NAFTA, Trans-Pacific Partnership, Innovation, USMCA
  • Political Geography: United States, China, Canada, Asia, North America, Mexico
  • Author: David M Malone, Rohinton P. Medhora
  • Publication Date: 06-2019
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: This paper includes essential history of how the multilateral world has evolved over the last 150 years, followed by an examination of several types of multilateral systems: the United Nations and related organizations (including the World Bank group and the International Monetary Fund), and the World Trade Organization; regional organizations; and cross-cutting multilateral or plurilateral groupings with more limited, generally consultative purposes, such as the Group of Seven and BRICS (Brazil, Russia, India and China). It concludes with some reflections on the implications for multilateralism of a defection from its attractions and principles by key actors.
  • Topic: International Cooperation, World Trade Organization, World Bank, Multilateral Relatons, IMF, BRIC
  • Political Geography: Russia, China, Europe, India, Asia, Brazil, South America, North America
  • Author: Alex He
  • Publication Date: 09-2019
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: This paper argues that with more objectives added since its inception in 2013, China’s Belt and Road Initiative (BRI) has evolved into a much more expansive grand strategy that includes a package of themes and goals. It examines the policy-making process of the BRI by exploring the motivations behind the plan President Xi Jinping proposed and how the initial Silk Road projects have developed into China’s package of strategies over the past few years. The priorities and performance of China’s investments in the BRI are discussed from the angle of geographical distribution, routes and projects, priority sectors and the connection between the BRI and the previous “going out” strategy China started at the beginning of the twenty-first century. The model and the specific ways China finances and invests in BRI projects, to a great extent, decided the nature of the China-led global infrastructure investment plan. BRI financing is reviewed in detail. Based on the geopolitical and geo-economic analysis of the BRI in the previous parts, the implications of the BRI for global governance as it goes beyond the ambitious infrastructure investment plan are revealed. The risks and problems facing the BRI and the controversy and criticism it has encountered are also addressed. Finally, the paper summarizes the BRI’s ever-expanding themes and the problems and risks it faces, and their implications for the future of the BRI.
  • Topic: Development, Imperialism, Infrastructure, Belt and Road Initiative (BRI), Strategic Competition
  • Political Geography: China, Asia
  • Author: Patrick Leblond
  • Publication Date: 10-2019
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: On the margins of the Group of Twenty leaders’ meeting in Osaka, Japan on June 28-29, 2019, Canada and 23 others signed the Osaka Declaration on the Digital Economy. This declaration launched the “Osaka Track,” which reinforces the signatories’ commitment to the World Trade Organization (WTO) negotiations on “trade-related aspects of electronic commerce.” In this context, unlike its main economic partners (China, the European Union and the United States), Canada has yet to decide its position. The purpose of this paper is thus to help Canada define its position in those negotiations. To do so, it offers a detailed analysis of the e-commerce/digital trade chapters found in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Canada-United States-Mexico Agreement (CUSMA), the North American Free Trade Agreement’s replacement, in order to identify the potential constraints that these agreements could impose on the federal government’s ability to regulate data nationally as it seeks to establish a trusting digital environment for consumers and businesses. The analysis leads to the conclusion that Canada’s CPTPP and CUSMA commitments could ultimately negate the effectiveness of future data protection policies that the federal government might want to adopt to create trust in the data-driven economy. As a result, Canada should not follow the United States’ position in the WTO negotiations. Instead, the best thing that Canada could do is to push for a distinct international regime (i.e., separate from the WTO) to govern data and its cross-border flows.
  • Topic: International Cooperation, International Trade and Finance, World Trade Organization, European Union, Digital Economy
  • Political Geography: United States, China, Europe, Canada, Asia, North America
  • Author: Hongying Wang
  • Publication Date: 08-2018
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Following the global financial crisis, international financial standard-setting bodies granted emerging economies unprecedented representation. Some observers expected the existing system of international financial regulation to be undermined by the larger number of players and their diverging interests from the traditional standard setters. This paper examines whether China, the largest emerging economy, has influenced the international financial regulatory regime. It finds that China has, by and large, been a “rule taker” so far, but points out some important signs of change. It argues that with improved technical capacity, greater stakes in international financial standards and rising structural power, China is poised to increase its participation in the making of international financial standards.
  • Topic: Regulation, Global Political Economy, Fiscal Policy
  • Political Geography: China, Asia
  • Author: Anton Malkin
  • Publication Date: 08-2018
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: This paper provides a reassessment of Made in China 2025 (MIC 2025) — China’s industrial policy framework aimed at helping the country overcome the much-maligned middle-income trap — in the context of global trade governance. It suggests that China’s industrial policies have been viewed too narrowly — without sufficient attention to longer-term global governance issues — by a large segment of the global business and policy-making community. The paper argues that the general aims of MIC 2025 and the policies that underpin them are not unreasonable, given the increasingly prevalent dilemmas in global trade that China’s leaders are grappling with. These include problems of international development arising from growing global industrial concentration — driven by the growth of the intangible economy — and China’s shrinking access to importing and developing technological components (such as semiconductor chips) that are increasingly characterized as “dual-use” by China’s trading partners. This suggests that resolving the concerns of China’s trading partners regarding China’s industrial policies requires global trade governance reform to ensure an equitable, rules-based global trading order that addresses the legitimate needs of developing and middle-income economies in acquiring foreign-owned technological components and know-how, for the purposes of economic development. The paper concludes by outlining specific recommendations for Canada’s policy makers in improving their economic relationship with China in the context of MIC 2025.
  • Topic: Development, Industrial Policy, Science and Technology, Governance, Free Trade
  • Political Geography: China, Canada, Asia, North America
  • Author: Robert McDougall
  • Publication Date: 11-2018
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The impasse in the World Trade Organization (WTO) over the appointment of new members of the Appellate Body is just one symptom of crisis in cooperation on trade. Driven by skepticism about multilateralism and binding dispute settlement, and by a growing strategic and economic rivalry with China, the current US administration has elevated longstanding US concerns about WTO dispute settlement to new heights. The inability of WTO members to exercise their collective authority to interpret the meaning of their WTO commitments has meant that the Appellate Body is effectively not subject to any checks and balances. As other WTO members blocked US efforts to negotiate more member control, the United States increasingly turned to unpopular unilateral mechanisms, culminating in the current block on new appointments as part of its more disruptive trade policy. Assuming the United States will eventually return to rules-based trade, restoring the WTO dispute settlement system to full capacity and enhancing its legitimacy will likely require some changes. This might include improving mechanisms for political oversight, diverting sensitive issues from adjudication, narrowing the scope of adjudication, improving institutional support and providing members more say over certain procedures. Preserving compulsory, impartial and enforceable dispute settlement in the WTO will require an accommodation of different perspectives on how the system should function. Achieving this, in whatever form, will contribute to maintaining and even strengthening multilateral cooperation on trade.
  • Topic: International Trade and Finance, World Trade Organization, Global Political Economy, Multilateralism
  • Political Geography: United States, China, Asia, North America
  • Author: Hongying Wang
  • Publication Date: 03-2016
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: In recent years, the world has seen rapid growth in China’s financial reach beyond its borders. Following the announcement of a “going out” strategy at the turn of the century, many Chinese enterprises have ventured to invest and operate abroad. After three decades as primarily a recipient of foreign direct investment (FDI), China has now emerged as a major FDI-originating country as well. Much of China’s foreign aid is closely entangled with its outgoing FDI, and it has also been rising. Since 2013, the Chinese government has been pushing for a new One Belt, One Road (OBOR) initiative, aiming to connect China with countries along the ancient Silk Road and a new Maritime Silk Road via infrastructure investment. In addition, since 2009, China has actively promoted the internationalization of its currency, the renminbi (RMB). There has been a great deal of anxiety about the motivations behind China’s going out policy and its possible international consequences. Many view it as an expression of China’s international ambition and a strategy that threatens the existing international order; however, that is not the whole story. An equally important but often less understood issue is the role of China’s domestic politics and political economy in shaping its new activism in foreign financial policy. Moreover, it is unclear how successful the going out policy is. The complexity of China’s going out policy was the topic for a recent round table discussion hosted by the Centre for International Governance Innovation and the Foreign Policy Institute at the School of Advanced International Studies of Johns Hopkins University in Washington, DC.[1] Participants discussed a number of issues around two broad themes: the impact of domestic political economy on China’s foreign economic policy and the challenges for China’s external financial strategy — in particular, its OBOR initiative.
  • Topic: Markets, Political Economy, Monetary Policy, Infrastructure, Foreign Direct Investment, Financial Markets
  • Political Geography: China
  • Author: Alex He
  • Publication Date: 03-2016
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: This paper explores China’s perspectives and practices in its quest for overseas energy supply security and its participation in international energy cooperation since becoming a net oil import country in 1993. It compares the traditional approach, in which China mainly focuses on bilateral means to pursue its overseas energy supply security, and the new concept of energy security, in which greater involvement in global energy governance, in particular in the Group of Twenty (G20), is highlighted to promote China’s energy security. The paper argues that China still retains a bilateral and regional cooperation approach, while making progress in developing closer cooperation with existing major global energy governing institutions. The One Belt, One Road strategy proposed in 2013 is regarded as a strengthened version of the bilateral and regional cooperation approach. Chinese academic circles constitute the main forces advocating China’s more positive participation in global energy governance. The G20 provides significant institutional arrangements to coordinate big powers to govern the international energy markets and to address climate change. This paper suggests that, given China’s growing prominence at the G20, it could be the proper platform for the country to play a more active role in global energy governance.
  • Topic: Climate Change, Energy Policy, Environment, Oil, Regional Cooperation, Bilateral Relations, Governance, G20
  • Political Geography: China
  • Author: Wendy Dobson
  • Publication Date: 02-2016
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: This paper reviews Indonesia’s economic prospects and what these imply for a closer relationship with Canada. By posing the question “Is Indonesia the next China?,” the author suggests that Indonesia has the considerable economic potential envisaged by foreign investors, but conveys uncertainty as to whether Southeast Asia’s most populous country can make the changes necessary to realize that potential. A review of the economic record and comparison of China’s and Indonesia’s economic structures, endowments and institutions show major differences between the two countries. The paper further questions what it will take to realize Indonesia’s potential, finding the answers to be: human capital development; increased participation in the region’s global value chains; meeting the growing middle-class demand for modern services; raising productivity in agriculture and fishing; and increasing use of the Internet. Failure to make these changes will increase the chances of Indonesia’s growth in per capita incomes slowing and falling into the middle-income trap. Canada’s role will be to monitor closely how Indonesia tackles its five priorities at the same time as it responds to the opportunities to exploit Indonesia’s abundant natural resources, urbanization and its expanding consumer demand for modern services and educational opportunities.
  • Topic: Economics, Emerging Markets, Human Welfare, International Trade and Finance, Natural Resources, Regulation
  • Political Geography: China, Indonesia
  • Author: John Whalley, Li Chunding
  • Publication Date: 05-2016
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The Trans-Pacific Partnership (TPP) Agreement has now been concluded, but it still faces the challenge of ratification in each of the 12 member countries that are partners to the agreement. China is the world’s second- largest economy, but is not part of the TPP Agreement, which has provoked a great deal of debate in China on the best strategy for China to deal with the TPP. This paper analyzes China’s possible trade strategy, raising three issues for consideration, given the TPP Agreement. First, security of market access should be China’s main concern in any free trade agreement (FTA) negotiation, but the TPP does not include content that is particularly relevant to this issue. Second, the nal TPP Agreement is somewhat less than the high-level, ambitious agreement that has been proclaimed. Third, the rati cation process in all 12 member countries will be slow and may possibly not even happen. This paper sets out four strategies for China: to promote the development of China’s remaining regional and bilateral FTAs; to negotiate a bilateral FTA with the United States; to promote deep domestic reform and opening up by enlarging the coverage of the TPP; and, nally, to negotiate its entry in the TPP as soon as possible, so that the terms of entering the agreement do not degenerate for China.
  • Topic: International Political Economy
  • Political Geography: China
  • Author: Zheng Liansheng
  • Publication Date: 03-2015
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The shadow banking system was defined in 2007 by Paul McCulley, the managing director of Pacific Investment Management Company, but it began to receive significant attention in the immediate aftermath of the GFC. Since the beginning of the financial crisis in 2008, the regulatory agencies of different countries, international organizations and think tanks have all carried out in-depth research into shadow banking and have released a series of results. Regulatory reforms have also addressed shadow banking, the most important of which is the US Dodd-Frank Act of 2010, which aims to restrain the expansion and risk taking of shadow banking in the United States. The United Kingdom and the European Union have also adopted reforms and built up a supervisory system to track the risks of the shadow banking system.
  • Topic: Financial Crisis
  • Political Geography: United States, China, United Kingdom, Europe
  • Author: Ming Zhang
  • Publication Date: 03-2015
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Due to the 2008-2009 global financial crisis, the Chinese government began to promote renminbi (RMB) internationalization in order to raise its international status, decrease reliance on the US dollar (USD) and advance domestic structural reform. RMB internationalization has achieved progress not only in cross-border trade settlement, but also in the offshore RMB markets. However, the rampant cross-border arbitrage and the relatively slow development of RMB invoicing compared to RMB settlement are becoming increasingly problematic. RMB internationalization has exerted significant influence on not only the Chinese economy but also other emerging market economies. RMB internationalization complicates domestic monetary policy, exacerbates the currency mismatch on China's international balance sheet and increases both the scale and volatility of short-term capital flows. It offers emerging economies another alternative for pricing domestic currency and investing foreign exchange reserves. Its overall impact on the international monetary system's stability will depend on how the capital account is liberalized and the consistency and transparency of Chinese monetary policy. This paper concludes with five recommendations for Chinese policy makers to promote RMB internationalization in a sustainable way that is conducive to international stability.
  • Topic: Development, Economics, Government
  • Political Geography: United States, China