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  • Author: Jeremy de Beer
  • Publication Date: 01-2020
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The Canada-United States-Mexico Agreement (CUSMA) is the new high-water mark in international intellectual property (IP) law. CUSMA includes most of the Trans-Pacific Partnership provisions that were suspended in the Comprehensive and Progressive Trans-Pacific Partnership, except for a few pharmaceutical-related provisions amended after signing. Canada will be required to make meaningful changes to domestic IP laws, including copyright term extension, criminal penalties for tampering with digital rights management information, restoration of patent terms to compensate for administrative and regulatory delays, broader and longer protection for undisclosed testing data and other data, new civil and criminal remedies for the misappropriation of trade secrets, and additional powers for customs officials to seize and destroy IP-infringing goods.
  • Topic: International Trade and Finance, Regional Cooperation, Intellectual Property/Copyright, NAFTA, USMCA
  • Political Geography: United States, Canada, North America, Mexico
  • 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: Susan Ariel Aaronson
  • Publication Date: 04-2020
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: From posting photos and videos to tracking physical activity, apps can do almost anything, but while they may seem like harmless fun, they may also pose a threat to personal data and national security. This paper compares the different responses of the United States, Canada and Germany to data risks posed by popular apps such as FaceApp, Facebook, Strava, TikTok and ToTok. These apps and many others store troves of personal data that can be hacked and misused, putting users (and the countries in which they live) at risk.
  • Topic: Security, Digital Economy, Social Media, Data
  • Political Geography: United States, Europe, Canada, Germany, North America
  • Author: Meredith Lily, Hugo Perezcano, Christine McDaniel
  • Publication Date: 02-2019
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The Canada-United States-Mexico Agreement (CUSMA) — known in the United States as the United States-Mexico-Canada Agreement (USMCA) — was reached on September 30, 2018, and will replace its predecessor if successfully ratified by legislatures in all three countries. Several weeks later, on October 14–16, 2018, thought leaders from Mexico, the United States and Canada gathered for the fourteenth annual North American Forum in Ottawa, Ontario. In light of these events, CIGI initiated a trilateral project to anticipate and predict how North American trade and economic relations would unfold in the near term and further into the future. Three authors, Christine McDaniel, Hugo Perezcano Díaz and Meredith Lilly, each from one of the North American countries, explain the importance of the new CUSMA to their respective countries and how economic relations could be reshaped in the coming months and years. Earlier versions of these papers were presented in a panel discussion at the North American Forum.
  • Topic: International Trade and Finance, Regional Cooperation, NAFTA, USMCA
  • Political Geography: United States, Canada, North America, Mexico
  • 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: James A. Haley
  • Publication Date: 07-2019
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: This paper discusses the nexus between the Donald Trump administration’s trade policy and International Monetary Fund (IMF) exchange rate surveillance. It reviews the evolution of IMF surveillance and the possible implications of incorporating currency manipulation clauses into bilateral trade agreements. Such clauses constitute a key US trade negotiation objective. While they may reflect genuine concern over practices to thwart international adjustment, they could erode the effectiveness of the IMF at a time of transition and resulting tension in the global economy. Managing this tension calls for a cooperative approach to the issue of adjustment, one consistent with the fundamental mandate of the IMF. An approach based on indicators of reserve adequacy is proposed. Such a framework was briefly considered and dismissed almost 50 years ago, which was likewise a period of tension in trade and global monetary affairs. Prospects for success today are equally dim because cooperative measures to assuage adjustment challenges would require repudiation of the view that exchange rate surveillance is about bilateral trade balances and abandonment of the zero-sum game approach to international arrangements on which Trump administration trade actions are based.
  • Topic: International Cooperation, International Trade and Finance, Exchange Rate Policy, IMF
  • Political Geography: United States, North America
  • Author: Armand de Mestral, Lukas Vanhonnaeker
  • Publication Date: 09-2019
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: In response to concerns raised about investor-state arbitration (ISA), different proposals for reform of this means of dispute settlement have been proposed. One such proposal is to entrust domestic courts with the resolution of investment disputes. Although opting for the resolution of investment disputes before domestic courts has led to some discussion about the advantages and difficulties of this approach, very few studies have analyzed the specificities of domestic regimes in this regard. Many questions remain unanswered, including whether foreign investors have, in practice, access to domestic courts in the host state and whether the remedies available domestically are comparable to those available in ISA. In an attempt to answer some of these questions, a questionnaire was prepared and answered by respondents in 17 countries, in addition to Canada, from different regions of the world.
  • Topic: Reform, Democracy, Legal Theory , Investment
  • Political Geography: United States, Canada, South America, North America, Mexico, Peru
  • Publication Date: 10-2019
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: In December 2017, trade ministers met in Buenos Aires, Argentina, for the Eleventh Ministerial Conference of the World Trade Organization (WTO), against the backdrop of crisis in the WTO dispute settlement system. After the meeting achieved only modest outcomes, and none related to dispute settlement, the Centre for International Governance Innovation convened a group of experts in Ottawa for a round table discussion of the way forward to restoring and improving the dispute settlement system. The round table discussion addressed three issues: ideas for reforming the operation of the WTO dispute settlement system; US concerns over the operation of the WTO dispute settlement system and the US decision to block appointments to the Appellate Body; and solutions to break the deadlock on WTO Appellate Body appointments and what to do if members are unable to reach an agreement. There was broad agreement that, while the WTO dispute settlement system has made an important contribution to maintaining the security and predictability of the rules-based trading system, there is still room for improvement in its operation. Participants discussed a number of procedural, systemic and substantive issues that could be addressed through reform, some of which might be easily agreed on and implemented, whereas others would require further consideration. It was agreed that the most pressing challenge to the system is the refusal of the United States to allow new appointments to the Appellate Body. While there was sympathy for some of the concerns raised by the United States, participants agreed that the ultimate objectives of the United States remain unclear, and, therefore, participants cautioned against making hasty concessions that might undermine the integrity and independence of the dispute settlement system.
  • Topic: International Trade and Finance, World Trade Organization, Settlements
  • Political Geography: United States, Canada, North America
  • 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: Chios Carmody
  • Publication Date: 10-2019
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: This is a guide to the legal framework for emissions trading under the cap-and-trade system created and adhered to under the Western Climate Initiative (WCI). This guide is intended to serve three aims. First, the guide is an overview of the WCI cap-and-trade system for emissions trading by current users of the system; potential industry participants; state, provincial and municipal governments; academic institutions; and members of civil society. Second, the guide’s aim is to foster learning among domestic and international actors interested in North America’s collective response to climate change and highlights one attempt to combat climate change through a subnational cap-and-trade system on the continent. Third, during the course of research for this guide in 2018, the province of Ontario linked its WCI-inspired cap-and-trade system with that of California and Quebec and six months later delinked its system, eventually terminating it altogether and announcing its intention to withdraw from the WCI. A third purpose of this guide is therefore to serve as an account of Ontario’s short-lived cap-and-trade system and its brief experience with linkage.
  • Topic: Civil Society, Climate Change, Environment, Carbon Emissions
  • Political Geography: United States, Canada, North America, Mexico
  • Author: Jeff Rubin
  • Publication Date: 06-2018
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Even though US President Donald Trump has pulled the United States out of the Paris Agreement, the country remains much closer to hitting the 2020 emission targets pledged by the previous administration of Barack Obama than Canada is of meeting the targets originally proposed by the government of Stephen Harper. The significant difference in emission performance is the result of the very different trajectories of energy-related emissions in the two countries. In the United States, such emissions have fallen steadily over the last decade as natural gas has usurped coal’s once dominant role in the US power sector. North of the border, oil sands emissions continue to be the fastest-growing source of emissions in Canada as emission-intensive in situ oil sands production continues to increase despite unfavourable economics.
  • Topic: Climate Change, Environment, Oil, Natural Resources
  • Political Geography: United States, Canada, North America
  • Author: Gregory Makoff
  • Publication Date: 09-2018
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The recent rise in sovereign debt litigation in the US Federal Court System is an unintended consequence of the US Foreign Sovereign Immunities Act of 1976 related to an unanticipated shift of the international sovereign debt market from a narrow loan market to a global bond market. Collective action clauses (CACs) — developed in 2003 and “enhanced” in 2014 — are, in theory, an effective contract-based tool to facilitate orderly debt restructurings and control the holdout creditor problem. However, compliance by countries is voluntary and may not be sustained. To assure sustained compliance and to reduce the future incidence of holdout creditor litigation, the US Foreign Sovereign Immunities Act should be amended to provide that only bonds with enhanced CACs will be subject to suit and enforcement in the US courts.
  • Topic: Debt, Legal Theory , Credit, Global Bond Market
  • Political Geography: United States, North America
  • Author: Jeremy de Beer
  • Publication Date: 10-2018
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The era of global multilateralism in international trade is coming to an end. The World Trade Organization’s (WTO’s) Doha Round, which sought to reduce multilateral trade barriers, has been declared “dead and buried” according to certain scholars. New WTO reform efforts may be rekindled; however, the world has shifted toward international economic regionalism. The WTO defines regional trade agreements as reciprocal preferential trade agreements between two or more partners (whether or not from the same region), of which almost 300 are in force. While these agreements can be called bilateral, free, regional or preferential trade agreements, there is a more important issue than naming.
  • Topic: International Trade and Finance, Regional Cooperation, World Trade Organization, Multilateralism
  • Political Geography: United States, Canada, 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
  • Publication Date: 01-2016
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: This special report is prepared for the North American Forum (NAF). In 2015, CIGI’s Global Security & Politics Program became the Secretariat for the Canadian leadership within the NAF. CIGI will be undertaking a program of research to support the Canadian contribution to the NAF in cooperation with our American and Mexican partners. In the coming months, CIGI will publish additional reports to support the work of the NAF. Since the 1994 North American Free Trade Agreement, trade, investment and migration flows among Canada, Mexico and the United States have helped turn North America into one of the most dynamic and prosperous trade blocs on the planet. With a new government in Ottawa, it is an ideal time for Canada to make a stronger, deeper relationship with Mexico a crucial plank of a plan to secure a prosperous future for North America. Better relations between Mexico and Canada not only means more opportunities to take advantage of the two countries’ economic and social complementarities, it also gives the two countries the opportunity to closely work together to get the United States on board with an ambitious North American agenda to secure the continent’s economic future.
  • Topic: Security, Economics, International Trade and Finance, Politics, Regional Cooperation
  • Political Geography: United States
  • Author: Nigel Shadbolt, Wendy Hall, Keiron O'Hara
  • Publication Date: 03-2016
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: In May 2014, the world of privacy regulation, data handling and the World Wide Web changed dramatically as a result of judgment C-131/12 in the CJEU. The so-called Google Spain decision confirmed that EU data protection legislation gives data subjects the right to request search engines to de-index webpages that appear in the search results on their names. The search engine is not obliged to agree to such requests — certain conditions have to be met and tests applied — but it is not free simply to ignore them. The decision drew on the 1995 DPD2 and the Charter of Fundamental Rights of the European Union, and is consistent with a general direction toward more aggressive protection of privacy rights in Europe, as evidenced by the annulment of the Data Retention Directive, also in 2014 (CJEU 2014). Nevertheless, despite these antecedents, it has been seen as a major step in establishing a right to be forgotten.
  • Topic: Science and Technology, Communications, Mass Media, Global Markets, Information Age, Digital Economy, Privacy
  • Political Geography: United States, Global Focus
  • Author: Emily Taylor
  • Publication Date: 04-2015
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: This paper addresses the proposed transfer of Internet Assigned Numbers Authority (IANA) oversight away from the US government. The background section explores how the technical architecture of critical Internet resources has certain governance implications, introduces the Internet Corporation for Assigned Names and Numbers (ICANN) and its relationship with the US government through the IANA function and the Affirmation of Commitments. After discussing why the relationship has caused controversy, the paper describes the work underway within ICANN to find a successor oversight mechanism and provides a short critique of the proposals so far. The majority of the paper is taken up with more general issues relating to ICANN's accountability. It explains how the IANA transition was recognized to be dependent on ICANN's wider accountability, and the trust issues between community and leadership that this exposed. There follows an analysis of ICANN's strengths and weaknesses in relation to accountability and transparency, followed by conclusions and recommendations.
  • Topic: Government
  • Political Geography: United States
  • 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
  • Author: Chiara Oldan
  • Publication Date: 02-2015
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Over-the-counter (OTC) derivatives played an important role in the buildup of systemic risk in financial markets before 2007 and in spreading volatility throughout global financial markets during the crisis. In recognition of the financial and economic benefits of derivatives products, the Group of Twenty (G20), under the auspices of the Financial Stability Board (FSB), moved to regulate the use of OTC derivatives. Although a number of scholars have drawn attention to the detrimental effects of the United States and the European Union (EU) to coordinate OTC reform, this overlooks an important aspect of the post-crisis process: the exemption of non-financial operators from OTC derivative regulatory requirements. Critically, they remain exempt under existing legislation regardless of the risks they continue to pose through unreported trades and counterparty risks to financial firms; there is still uncertainty around the pricing of derivatives (i.e., model risk) for non-financial operators that could pose a risk to the financial system. Nevertheless, the lack of coordination between the United States and European Union is detrimental for consistency and coherence among financial sectors. These, and similar inconsistencies in financial regulation, pose risks of conflict and fragmentation that should soon be addressed by the G20. The paper concludes by discussing what lessons can be learned from Canada, after it successfully avoided the worst of the crisis and contained the systemic risks posed by OTC derivatives before and after it.
  • Political Geography: United States, Europe, Canada
  • Author: Michael Chertoff, Tobby Simon
  • Publication Date: 02-2015
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: With the Internet Corporation for Assigned Names and Numbers' contract with the United States Department of Commerce due to expire in 2015, the international debate on Internet governance has been re-ignited. However, much of the debate has been over aspects of privacy and security on the visible Web and there has not been much consideration of the governance of the “deep Web” and the “dark Web.”The term deep Web is used to denote a class of content on the Internet that, for various technical reasons, is not indexed by search engines. The dark Web is a part of the deep Web that has been intentionally hidden and is inaccessible through standard Web browsers. A relatively known source for content that resides on the dark Web is found in the Tor network. Tor, and other similar networks, enables users to traverse the Web in near-complete anonymity by encrypting data packets and sending them through several network nodes, called onion routers. Like any technology, from pencils to cellphones, anonymity can be used for both good and bad. Users who fear economic or political retribution for their actions turn to the dark Web for protection. But there are also those who take advantage of this online anonymity to use the dark Web for illegal activities such as controlled substance trading, illegal financial transactions, identity theft and so on. Considering that the dark Web differs from the visible Web, it is important to develop tools that can effectively monitor it. Limited monitoring can be achieved today by mapping the hidden services directory, customer data monitoring, social site monitoring, hidden service monitoring and semantic analysis. The deep Web has the potential to host an increasingly high number of malicious services and activities. The global multi-stakeholder community needs to consider its impact while discussing the future of Internet governance.
  • Political Geography: United States
  • Author: Domenico Lombardi, Pierre Siklos, Samantha St. Amand
  • Publication Date: 01-2015
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: There is a risk that positive developments in the US economy and in the US Federal Reserve's monetary policy stance could induce global financial volatility and further exacerbate global economic imbalances. Empirical evidence suggests that global asset prices are responsive not just to US policy actions, but to news events concerning developments in the US economy and to the tones of Federal Reserve statements. Central banks need to continue to be mindful about the potential repercussions of shocking markets through statements and policy actions. The Group of Twenty (G20) ought to work together to implement coordinated, mutually beneficial economic policies. This includes being cognizant of the spillover effects of domestic policies, and seeking to minimize them.
  • Topic: Monetary Policy
  • Political Geography: United States
  • Author: Samah Rahman, Shashanth Shetty
  • Publication Date: 07-2015
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Canada is lagging behind in research and development (R&D) commercialization, ranking fifteenth in the World Economic Forum’s 2015 Global Competitiveness Report. One of the most important contributing factors to the gap between R&D and competitiveness is that new entrepreneurs lack the monetary and informational resources to access intellectual property (IP) legal expertise. The authors of this brief argue that the Canadian government’s strategies have been ineffective, and its current policy initiatives have failed to consider the importance of disseminating IP legal knowledge directly to innovators. It is recommended that the government look to the models used by the United States and South Korea to mobilize IP legal knowledge within the entrepreneurial community. This can be achieved by establishing a national IP legal clinic at the university level — as well as increasing funding for existing programs and creating a virtual clinic — and including an IP rights application course in select university programs, targeting innovators who will require IP legal advice in the future.
  • Topic: Economics, Intellectual Property/Copyright
  • Political Geography: United States, Canada, South Korea
  • Author: Armand de Mestral
  • Publication Date: 09-2015
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Investor-state arbitration (ISA), also known as Investor-State Dispute Settlement (ISDS), by which a foreign investor is entitled to sue a state for damages resulting from the alleged violation of an applicable bilateral investment treaty or an investment chapter in a regional trade agreement, has come under scrutiny in many parts of the world. But in no countries has it been subject to greater scrutiny and challenge than in developed democracies. First in Canada and the United States as a result of the adoption of NAFTA Chapter 11, subsequently in the European Union as a result of the adoption of the International Energy Charter, and latterly in other countries such as Australia, critics have alleged that ISA grants an undue privilege to foreign investors whose complaints should be heard by domestic courts instead of panels of international arbitrators. Availability of ISA is in fact worldwide, due to a network of more than 3,200 investment treaties; criticisms have been voiced in different parts of the world and various proposals for change have been made. The criticisms in developed democracies have become sufficiently strong for it to be necessary to raise the question of whether recourse to ISA is appropriate in any form in developed democracies. Armand de Mestral’s paper is the first in the Investor-State Arbitration project. The series of papers will be prepared by leading experts from a number of developed democracies. Each will review the experience of ISA within specific jurisdictions, with a view to understanding the debates that have occurred in each one. The focus of the debate is on developed democracies, but the implications for the whole international community are very much in mind.
  • Topic: Development, Energy Policy, Treaties and Agreements, Bilateral Relations, Foreign Direct Investment, Democracy
  • Political Geography: United States, Canada
  • Author: Joel Blit
  • Publication Date: 11-2015
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The case for patents rests crucially on three conditions: that innovation is undersupplied in the absence of patents; that patents promote increased innovation; and that the welfare benefits of any additional innovation outweigh the welfare costs associated with the temporary monopoly that patents generate. While it is probably true that innovation is undersupplied, the empirical evidence is mixed on whether patents foster innovation. This may be due to patents stifling cumulative innovation because of holdup and ex ante uncertainty over patent rights. This policy brief recommends that to reduce the potential for holdup, uncertainty around patent rights should be reduced. Patents should be easily searchable and more easily understood by non-legal experts. In addition, patents should be narrower and more clearly demarcated. To the extent that the welfare costs of patents appear to outweigh their benefits, the requirements for obtaining a patent should be tightened. Further, patents should be made less broad and, concomitant with the reduction in the length of the product cycle, the length of patents should also be reduced.
  • Topic: Human Welfare, Science and Technology, Intellectual Property/Copyright, Governance
  • Political Geography: United States
  • Author: Robert N. McCauley, Catherine R. Schenk
  • Publication Date: 02-2014
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: This paper analyzes the discussion of a substitution account in the 1970s and how the account might have performed had it been agreed in 1980. The substitution account would have allowed central banks to diversify away from the dollar into the IMF's Special Drawing Right (SDR), comprised of US dollar, Deutschmark, French franc (later euro), Japanese yen and British pound, through transactions conducted off the market. The account's dollar assets could fall short of the value of its SDR liabilities, and hedging would have defeated the purpose of preventing dollar sales. In the event, negotiators were unable to agree on how to distribute the open-ended cost of covering any shortfall if the dollar's depreciation were to exceed the value of any cumulative interest rate premium on the dollar. As it turned out, the substitution account would have encountered solvency problems had the US dollar return been based on US treasury bill yields, even if a substantial fraction of the IMF's gold had been devoted to meet the shortfall at recent high prices for gold. However, had the US dollar return been based on US treasury bond yields, the substitution account would have been solvent even without any gold backing.
  • Political Geography: United States, Asia
  • Author: James M. Boughton
  • Publication Date: 03-2014
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Canadians have long harboured a desire to "punch above their weight" in international diplomacy, an aspiration justified by Canada's position in the world both geographically and culturally. This paper examines one aspect of that effort: Canada's role in international financial governance, particularly within the International Monetary Fund. The key issue for the future is whether Canada will continue to have the capacity and the will to take leading positions and actions in the face of increasing competition from the rapidly growing emerging market countries.
  • Topic: Economics, Emerging Markets, International Trade and Finance, International Monetary Fund, Governance
  • Political Geography: United States, Canada
  • Author: Aaron Shull
  • Publication Date: 06-2014
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Examining global cybercrime as solely a legal issue misses an important facet of the problem. Understanding the applicable legal rules, both domestically and internationally, is important. However, major state actors are using concerted efforts to engage in nefarious cyber activities with the intention of advancing their economic and geostrategic interests. This attempt to advance a narrow set of economic interests through cybercrime and economic cyber espionage holds to the potential to erode the trust in the digital economy that has been a necessary condition for the success of the Internet as an economic engine for innovation and growth. By pursuing these efforts, states are prioritizing short-term interests over long-term stability and a responsibly governed, safe and secure Internet platform. This paper explores the recent unsealing of a 31-count indictment against five Chinese government officials and a significant cyber breach, perpetrated by Chinese actors against Western oil, energy and petrochemical companies. The paper concludes by noting that increased cooperation among governments is necessary, but unlikely to occur as long as the discourse surrounding cybercrime remains so heavily politicized and securitized. If governments coalesced around the notion of trying to prevent the long-term degradation of trust in the online economy, they may profitably advance the dialogue away from mutual suspicion and toward mutual cooperation.
  • Topic: Defense Policy, Crime, International Trade and Finance, Terrorism, Bilateral Relations
  • Political Geography: United States, China, Asia
  • Author: Pierre Siklos, Martin T. Bohl, Philipp Kaufmann
  • Publication Date: 07-2014
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Soaring prices in European alternative energy stocks and their subsequent tumble have attracted attention from both investors and academics. This paper extends recent research to an international setting and analyzes whether the explosive price behaviour of the mid-2000s was driven by rising crude oil prices and an overall bullish market sentiment. Inflation-adjusted US alternative energy stock prices do not exhibit signs of explosiveness. By contrast, we find strong evidence of explosive price behaviour for European and global sector indices, even after controlling for a set of explanatory variables. Interestingly, while the sector indices plunged with the outbreak of the global financial crisis, idiosyncratic components continued to rise and did not start to decline until after world equity markets had already begun to recover in 2009. This finding suggests a substantial revaluation of alternative energy stock prices in light of intensifying sector competition and shrinking sales margins, and casts some doubts on the existence of a speculative bubble. Nevertheless, this paper observes temporary episodes of explosiveness between 2005 and 2007 followed by rapid collapses, indicating the presence of some irrational exuberance among investors.
  • Topic: Economics, Energy Policy, Oil, Natural Resources
  • Political Geography: United States, Europe
  • Author: Aaron Shull, Paul Twomey, Christopher S. Yoo
  • Publication Date: 11-2014
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The US government has announced that it is prepared to unilaterally relinquish its historical control of the key technical functions that make up the modern-day Internet. This control stems from the foundational role played by the United States in the creation of the Internet, and has been exercised through the law of contract over the organization that performs these functions, a not-for-profit corporation based in California, the Internet Corporation for Assigned Names and Numbers (ICANN). Under the existing contractual arrangement, ICANN has been accountable to the US government for the performance of these functions. However, if the US government is no longer party to this agreement, then to whom should ICANN be accountable?
  • Topic: Science and Technology, Communications, Governance
  • Political Geography: United States, California
  • Author: Hongying Wang
  • Publication Date: 09-2014
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: More than a decade after it put forth the idea of the Sovereign Debt Restructuring Mechanism (SDRM) in the early 2000s, the International Monetary Fund (IMF) is again seeking to engage various stakeholders in a new round of discussions about improving sovereign debt restructuring. As a major international creditor, China is an important force to reckon with. So far, the Chinese government has said little publicly regarding the recent IMF reports on this issue. Chinese policy makers and analysts are supportive of the IMF's attempt to explore ways for earlier and more orderly debt restructuring, but they find the proposed reforms to be only marginally useful. From China's point of view, the most important question in debt management is how to prevent excessive borrowing and lending and reduce the likelihood of unsustainable debt. It sees discussions about the mechanisms of sovereign debt restructuring as having little effect on this question. As an international creditor, China's main concern has to do with safeguarding the value of its overseas assets from the detrimental effect of macroeconomic policies of Western countries, especially the United States. This is not an issue that can be addressed by improved debt restructuring mechanisms. China remains deeply concerned about the power imbalance between developed and developing countries in the international financial system. Going forward in the global dialogue over sovereign debt restructuring, China's priority will be to minimize international financial instability while protecting the development needs of developing countries.
  • Topic: Debt, International Monetary Fund
  • Political Geography: United States, China
  • Author: Alex He
  • Publication Date: 08-2014
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The G20 has emerged as the lynchpin of China's involvement in global economic governance. It remains the only economic institutional setting where the country can operate on par with major Western powers. China has a strong interest in maintaining the status of the G20 as the premier forum for economic cooperation, and a vested interest in ensuring that the G20 does not degrade into yet another “talk shop” of multilateral diplomacy. However, the Chinese leadership's current approach to the G20 is not driven by a desire to position the country as a leading agenda setter. Instead, China's main policy priority is ensuring that the country is treated as an equal and respected partner. China recognizes that in many ways it is still in a comparatively weak position and does not have the institutional capabilities and talents needed to operate in global financial and economic institutions such as the G20.
  • Topic: Economics, International Cooperation, International Trade and Finance
  • Political Geography: United States, China
  • Author: David A. Welch
  • Publication Date: 08-2014
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: As events demonstrate on a regular basis, the Asia-Pacific is a region prone to crisis. In recent years there has been a marked increase in the use of military force to signal interests or resolve, and even, in some cases, to alter the status quo, particularly in the East and South China Seas. Fortunately, none of these “mini crises” have escalated to the level of a shooting war. The received wisdom is that, all other things being equal, no country in the region desires conflict, owing to their high levels of economic interdependence. However, it is clear that in a context of rising nationalism, unresolved historical grievances and increasing hostility and suspicion, there is no reason to be complacent about the prospect of managing every future crisis successfully. Hence the recent surge in interest in crisis management “mechanisms” (CMMs). This paper explores the dangers of thinking of crisis management in an overly technical or mechanistic fashion, but also argues that sensitivity to those very dangers can be immensely useful. It draws upon US and Soviet experiences in the Cuban missile crisis to inform management of a hypothetical future Sino-American crisis in the East China Sea, and to identify general principles for designing and implementing CMMs.
  • Topic: Conflict Prevention, Foreign Policy, International Security, Political Theory
  • Political Geography: United States, China, Asia
  • Author: Malcolm D. Knight
  • Publication Date: 09-2014
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The global financial crisis that began in 2007 and deepened in 2008 exposed major weaknesses in financial and macroeconomic policy coordination, and profound flaws in financial risk management and regulation in a number of advanced countries. The severity of the crisis led global leaders to recognize that they must find a way to reform the global regulatory architecture to ensure that the financial system can absorb shocks while continuing to function efficiently.
  • Topic: International Trade and Finance, Markets, International Monetary Fund, Financial Crisis, Reform
  • Political Geography: United States, United Kingdom, Europe
  • Author: Aaron Shull, Paul Twomey, Christopher S. Yoo
  • Publication Date: 11-2014
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The US government has announced that it is prepared to unilaterally relinquish its historical control of the key technical functions that make up the modern-day Internet. This control stems from the foundational role played by the United States in the creation of the Internet, and has been exercised through the law of contract over the organization that performs these functions, a not-for-profit corporation based in California, the Internet Corporation for Assigned Names and Numbers (ICANN). Under the existing contractual arrangement, ICANN has been accountable to the US government for the performance of these functions. However, if the US government is no longer party to this agreement, then to whom should ICANN be accountable? The existing contractual arrangement includes much more than simple contractual terms. In fact, these obligations make up many of the core tenets of contemporary multi-stakeholder Internet governance. These core principles should be preserved during the transition, and this paper advances two main arguments to achieve this. First, the existing contractual accountabilities held by the US government could be transitioned through the law of contract to the existing customers of Internet Assigned Numbers Authority (IANA) services, creating direct accountability for the performance of those functions between the organization performing those services and the organizations using them. Second, in order to increase support within the broader community, modest revisions could be made to ICANN's independent review process to expand the grounds of review, allowing the review tribunal to hear additional cases on a broader range of complaints, with expanded powers of administrative review of decision-making processes.
  • Political Geography: United States, California
  • Author: James Manicom
  • Publication Date: 08-2013
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: There are a number of strategic challenges currently affecting the Asia-Pacific. In a period of global uncertainty, China has emerged as a confident and powerful actor, while the ability of the United States to remain the region's hegemonic power has come into question. Maritime boundary claims, regionalism and unresolved Cold War sovereignty disputes are a source of considerable uncertainty. A number of non-traditional security challenges are also emerging, including energy and food insecurity, cyber security and the threat of a climate catastrophe-related humanitarian crisis. Canada and Australia — resource-based economies with a record of bilateral and institutional engagement in the region, and important US allies — have an interest in these challenges, and in ensuring regional strategic stability that promotes economic growth.
  • Topic: Development, Economics, Governance
  • Political Geography: United States, China, Canada, Israel, Australia, Australia/Pacific, Asia-Pacific
  • Author: James A. Lewis
  • Publication Date: 10-2013
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The current approach to Internet governance is politically untenable because it lacks legitimacy in the eyes of many new Internet users. Legitimacy is a central issue for Internet governance.
  • Topic: Globalization, Science and Technology, Communications, Infrastructure, Governance
  • Political Geography: United States
  • Author: James Blight, Janet M. Lang
  • Publication Date: 11-2013
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: On November 22, 2013, the world observes the fiftieth anniversary of JFK's assassination. As Peter Baker (2013) writes, a “quick Amazon browse” yields a staggering 140 new JFK-related book titles published in English this year alone. JFK is regularly ranked by the American public as the most popular president of the post-World War II period. But even this does not seem to adequately explain the Kennedy media blitz in 2013. The media coverage of the anniversary will surely prove in spades that, alas, people still find the circumstances of JFK's death far more interesting than the achievements of his presidency. Dallas is Graceland; JFK might as well have been Elvis. For the first quarter century or so after JFK's murder, insensitive cynics sometimes remarked that having been assassinated was a great posthumous career move. They were wrong. The bizarre and still incompletely solved assassination has focussed succeeding generations on the JFK “fluff” factor — all the hearsay and gossip involved in establishing the Kennedys as America's unofficial “royal family.” To most, Dallas was tragic because JFK and his wife and children were so beautiful, young and cool. Vanity Fair, perhaps the paradigmatic Kennedy-worshipping outlet, has recently issued a commemorative volume of nearly 200 pages, with remarkably few advertisements, of nothing but Kennedy stories. The cover delivers on its promises of “dynasty, On November 22, 2013, the world observes the fiftieth anniversary of JFK's assassination. As Peter Baker (2013) writes, a “quick Amazon browse” yields a staggering 140 new JFK-related book titles published in English this year alone. JFK is regularly ranked by the American public as the most popular president of the post-World War II period. But even this does not seem to adequately explain the Kennedy media blitz in 2013. The media coverage of the anniversary will surely prove in spades that, alas, people still find the circumstances of JFK's death far more interesting than the achievements of his presidency. Dallas is Graceland; JFK might as well have been Elvis. For the first quarter century or so after JFK's murder, insensitive cynics sometimes remarked that having been assassinated was a great posthumous career move. They were wrong. The bizarre and still incompletely solved assassination has focussed succeeding generations on the JFK “fluff” factor — all the hearsay and gossip involved in establishing the Kennedys as America's unofficial “royal family.” To most, Dallas was tragic because JFK and his wife and children were so beautiful, young and cool. Vanity Fair, perhaps the paradigmatic Kennedy-worshipping outlet, has recently issued a commemorative volume of nearly 200 pages, with remarkably few advertisements, of nothing but Kennedy stories. The cover delivers on its promises of “dynasty, glamour, power and tragedy,” cementing JFK's role as America's martyred monarch.
  • Topic: Foreign Policy, Cold War, Diplomacy, Nuclear Weapons
  • Political Geography: United States
  • Author: Jerry McBeath
  • Publication Date: 12-2013
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: This paper concerns the US view of East Asian nations' involvement in the Arctic, emphasizing the perspective of Alaska, the only US Arctic state. It treats six different areas of US/Alaska policy: US national strategy for the Arctic; oil and gas exploration and development; marine transportation; fisheries; investment in infrastructure; and governance. The study finds few differences between the positions of Alaska and the United States, notwithstanding often-hostile rhetoric from leaders in the United States' farthest north frontier. In general terms, both Alaska and the United States have historically sought trade and investment ties with East Asian nations. China has now replaced Japan as Alaska's major trading partner, followed by South Korea and Taiwan.
  • Topic: Economics, Food, Infrastructure
  • Political Geography: United States, China, Taiwan, East Asia, South Korea, Alaska, Arctic
  • Author: Pierre Siklos, Martin T. Bohl, Arne C. Klein
  • Publication Date: 12-2013
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Existing models of market herding suffer from several drawbacks. Measures that assume herd behaviour is constant over time or independent of the economy are not only economically unreasonable, but describe the data poorly. First, if returns are stationary, then a two-regime model is required to describe the data. Second, existing models of time-varying herding cannot be estimated from daily or weekly data, and are unable to accommodate factors that explain changes in this behaviour. To overcome these deficiencies, this paper proposes a Markov switching herding model. By means of time-varying transition probabilities, the model is able to link variations in herding behaviour to proxies for sentiment or the macroeconomic environment. The evidence for the US stock market reveals that during periods of high volatility, investors disproportionately rely on fundamentals rather than on market consensus.
  • Topic: Economics, Globalization, International Trade and Finance, Markets, Financial Crisis
  • Political Geography: United States, Canada
  • Author: C. Christine Fair
  • Publication Date: 01-2012
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The utility of the Pakistani army's domination over nearly all aspects of the state in Pakistan was brought into question following the US Navy SEAL raid on Osama bin Ladens hideout on May 2, 2011. Pakistanis wondered how these events could have occurred right under the military's nose. This issue paper examines the prospects for security sector governance in Pakistan and identifies the reforms that are necessary for Pakistan's government to make meaningful strides in this area. It begins by explaining the hegemonic role of the armed forces in the history of the state of Pakistan and the unique challenges of its contemporary security terrain before surveying security sector governance in several key areas: the security of Pakistan's growing nuclear arsenal; the all powerful intelligence agencies; disaster management; law enforcement; the criminal justice system and support to jihadist groups. While the report elucidates persistent shortcomings of security governance in all areas, it also highlights key areas of recent improvement, including disaster management and control of nuclear arms.
  • Topic: Security, Islam, Nuclear Weapons, Terrorism, Counterinsurgency
  • Political Geography: Pakistan, United States, South Asia
  • Author: Perrin Beatty, Andrés Rozental
  • Publication Date: 11-2012
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Both Canada and Mexico are recovering well from the global economic recession of 2008-2009, but must work harder to make their bilateral relationship work to their mutual benefit. Bilateral trade and investment have grown steadily from very low pre-North American Free Trade Agreement (NAFTA) levels, but there remains enormous, untapped potential, particularly in Mexico. Student, tourist, investor and temporary worker exchanges are enhancing familiarity with each other, but unhelpful stereotypes remain common. New investment and trade opportunities should flow from the new Mexican administration's commitment to open up the energy sector to foreign participation. The assessment and recommendations contained in this special report point to the benefit of efforts that will intensify bilateral partnerships, not only in their own right, but also in strengthening the two countries' ability to deal more effectively with the United States in pursuing matters of mutual concern.
  • Topic: Economics, International Trade and Finance, Markets, Bilateral Relations
  • Political Geography: United States, Canada, Latin America, North America, Mexico
  • Author: James Manicom
  • Publication Date: 11-2012
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The United States and Canada have simultaneously re- invigorated their diplomatic and military postures toward the Asia-Pacific region. As two of the world's closest allies, it is worth exploring the possible synergies and tensions between their efforts to identify areas of possible policy coordination. Canada has considerable assets that could support US diplomacy in the region, including the legacy of its good offices and its close ties with the US military; however, these assets are outweighed by three liabilities. First, Canada's diplomacy to the Asia-Pacific is driven by its desire to diversify away from the US market. Although relatively innocuous in isolation, the politics of this shift, driven by growing concern in Canada about whether the United States remains a reliable market for energy exports, adds a layer of complexity. Second, Canada's closer economic ties with China could undermine its willingness to support the United States on tough regional security issues in the Asia-Pacific. Third, and related, Canadian silence about navigational freedoms, the primary security issue between the United States and China in East Asia, has not gone unnoticed. This paper argues that, on balance, Canada may not be an ideal Pacific partner for the United States.
  • Topic: Defense Policy, Arms Control and Proliferation, Diplomacy, International Trade and Finance, Bilateral Relations
  • Political Geography: United States, China, Canada, East Asia, Asia, Australia/Pacific, Asia-Pacific
  • Author: John Whalley, Chunding Li, Jing Wang
  • Publication Date: 07-2011
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The term "mega deal" has been widely used in relation to two large prospective trade deals between the United States and Europe – the Transatlantic Trade and Investment Partnership (TTIP) — and in Asia and the Pacific — the Trans-Pacific Partnership (TPP). This paper starts by exploring a possible description of trade mega deals by making an inventory of mega deals in place, under discussion or negotiation, and deals yet to be considered under different criteria. This paper also calculates the trade volume coverage and trade barrier coverage for potential mega deals, and the results show the potential impact of mega deals on trade and growth performance is large.
  • Topic: Development, Economics, International Trade and Finance
  • Political Geography: United States, Europe, Asia