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  • Author: Dong He
  • Publication Date: 06-2021
  • Content Type: Journal Article
  • Journal: The Cato Journal
  • Institution: The Cato Institute
  • Abstract: The globalized economy now moves at the speed of electrons — and the future of money is inexorably going digital, too. New forms of digital money, such as central bank digital currencies (CBDCs) and so‐​called global stablecoins, are shaping the future of money and payments. CBDCs are a digital form of fiat currency issued by a central bank. Some central banks started exploring CBDCs a few years ago, and those explorations have gathered momentum since Facebook and its partners announced their intention to launch the Libra stablecoin in June 2019. Because the stablecoins issued by large technological companies or platforms (Big Techs) have the potential to be adopted by businesses and households everywhere, they are called “global stablecoins,” or GSCs, in shorthand.
  • Topic: Geopolitics, Global Political Economy, Money, Currency, Trade
  • Political Geography: Global Focus
  • Author: John Mueller
  • Publication Date: 05-2021
  • Content Type: Commentary and Analysis
  • Institution: The Cato Institute
  • Abstract: China, even if it rises, does not present much of a security threat to the United States. Policymakers increasingly view China’s rapidly growing wealth as a threat. China currently ranks second, or perhaps even first, in the world in gross domestic product (although 78th in per capita GDP), and the fear is that China will acquire military prowess commensurate with its wealth and feel impelled to carry out undesirable military adventures. However, even if it continues to rise, China does not present much of a security threat to the United States. China does not harbor Hitler‐​style ambitions of extensive conquest, and the Chinese government depends on the world economy for development and the consequent acquiescence of the Chinese people. Armed conflict would be extremely—even overwhelmingly—costly to the country and, in particular, to the regime in charge. Indeed, there is a danger of making China into a threat by treating it as such and by engaging in so‐​called balancing efforts against it. Rather than rising to anything that could be conceived to be “dominance,” China could decline into substantial economic stagnation. It faces many problems, including endemic (and perhaps intractable) corruption, environmental devastation, slowing growth, a rapidly aging population, enormous overproduction, increasing debt, and restive minorities in its west and in Hong Kong. At a time when it should be liberalizing its economy, Xi Jinping’s China increasingly restricts speech and privileges control by the antiquated and kleptocratic Communist Party over economic growth. And entrenched elites are well placed to block reform. That said, China’s standard of living is now the highest in its history, and it’s very easy to envision conditions that are a great deal worse than life under a stable, if increasingly authoritarian, kleptocracy. As a result, the Chinese people may be willing to ride with, and ride out, economic stagnation should that come about—although this might be accompanied by increasing dismay and disgruntlement. In either case—rise or demise—there is little the United States or other countries can or should do to affect China’s economically foolish authoritarian drive except to issue declarations of disapproval and to deal more warily. As former ambassador Chas Freeman puts it, “There is no military answer to a grand strategy built on a non‐​violent expansion of commerce and navigation.” And Chinese leaders have plenty of problems to consume their attention. They scarcely need war or foreign military adventurism to enhance the mix. The problem is not so much that China is a threat but that it is deeply insecure. Policies of threat, balance, sanction, boycott, and critique are more likely to reinforce that condition than change it. The alternative is to wait, and to profit from China’s economic size to the degree possible, until someday China feels secure enough to reform itself.
  • Topic: Government, GDP, Geopolitics, Economic Growth
  • Political Geography: China, Asia, United States of America
  • Author: Eugene Rumer, Richard Sokolsky, Paul Stronski
  • Publication Date: 03-2021
  • Content Type: Working Paper
  • Institution: Carnegie Endowment for International Peace
  • Abstract: Russia has big Arctic plans, but how they will be realized is uncertain. For the United States this will likely mean the return to a Cold War–like environment rather than a new chapter in great-power competition in the Arctic. Russia’s Arctic ambitions have attracted increasing attention in the West over the past decade as climate change opens up new opportunities in the region for navigation and exploration of its riches. For its part, Moscow casts a wary eye on what it sees as a challenge from the United States and the North Atlantic Treaty Organization (NATO) to its position and ambitions there. The Kremlin’s rhetoric about Western encroachment has become more strident, in sync with its enhanced military posture and ambitious economic and infrastructure projects.
  • Topic: NATO, Cold War, Infrastructure, Geopolitics, Economy
  • Political Geography: Russia, Eurasia, North America, Arctic, United States of America
  • Author: Pavel K. Baev
  • Publication Date: 01-2021
  • Content Type: Special Report
  • Institution: Georgetown Journal of International Affairs
  • Abstract: The recent incidence of war in the Caucasus has shown that, when facing deep domestic troubles, Russia and Turkey demonstrate strikingly different patterns of international behavior. While Russia has become more cautious in responding to external challenges, Turkey has embarked on several power-projecting enterprises. Its forceful interference in the long-smoldering conflict around Nagorno-Karabakh took Russia by surprise and effectively secured a military victory for Azerbaijan. Moscow has assumed the main responsibility for terminating hostilities by deploying a peacekeeping force, but its capacity for managing the war zone and its commitment to deconflicting tensions with Turkey remain uncertain. The United States and the European Union have few levers for influencing this interplay of clashing agendas of local actors and regional powers and fewer reasons to trust Russian and Turkish leaders to put peacebuilding ahead of their ambitions.
  • Topic: Security, War, Geopolitics, Grand Strategy, Conflict
  • Political Geography: Russia, Eurasia, Turkey, Caucasus, Middle East
  • Author: Claire Young
  • Publication Date: 02-2021
  • Content Type: Policy Brief
  • Institution: Lowy Institute for International Policy
  • Abstract: Australia’s interests in Antarctica are better served by the Antarctic Treaty System (ATS) than anything we could negotiate today. We should redouble our commitment to its ideals of science-driven, rules-based management — and counter the narrative of ATS ‘failure’. China is pushing the boundaries of ATS practice by exploiting fisheries and tourism, and probably seeking access to Western technologies in Antarctica. And in the future, Beijing could lead a coalition of states seeking mineral riches that only China is likely to be capable of retrieving. Australia should watch China’s activities closely, but react cautiously. We should be wary of false analogies with the Arctic and not overreact to marginal military developments. We should shield the ATS from Australia–China tension and US–China competition.
  • Topic: Science and Technology, Treaties and Agreements, Natural Resources, Tourism, Geopolitics, Fishing, Coalition
  • Political Geography: China, Asia, Australia, Arctic
  • Author: Adel Abdel Ghafar
  • Publication Date: 02-2021
  • Content Type: Working Paper
  • Institution: Istituto Affari Internazionali
  • Abstract: The role played by countries of the Gulf Cooperation Council (GCC) in the Eastern Mediterranean is becoming increasingly important. This calls for an assessment of their evolving relationship with countries in the region, as well as their involvement in the Libyan conflict. Increased involvement by Gulf actors may inflame existing regional rivalries and geopolitical tensions. The interests of GCC countries in the Eastern Mediterranean are first analysed in the broader context of regional rivalries. Special attention is then devoted to Egypt, Libya, Lebanon, Greece and Cyprus, while considering the role of other key regional actors such as Turkey and Israel. Recommendations on why and how the new US administration should intervene to decrease regional tensions are provided.
  • Topic: Foreign Policy, Gulf Nations, Geopolitics, Economy, Conflict
  • Political Geography: Turkey, Israel, Greece, Libya, Lebanon, Egypt, Cyprus, Mediterranean
  • Author: M. Patrick Hulme, Tai Ming Cheung
  • Publication Date: 02-2021
  • Content Type: Policy Brief
  • Institution: University of California Institute on Global Conflict and Cooperation (IGCC)
  • Abstract: Growing distrust in East Asia, especially in the security arena, is increasingly critical as new and long-standing hotspots— including the Taiwan strait, Korean peninsula, East China Sea, and South China Sea—become more volatile. The need for confidence-building measures is clear, and a central tool of confidence building is defense transparency. The Defense Transparency Index (DTI), a project of the University of California’s Institute on Global Conflict and Cooperation, ranks six countries on their efforts to promote transparency in defense and national security, including the People’s Republic of China, Japan, the Democratic People’s Republic of Korea (DPRK), the Republic of Korea, and the major external powers most involved in the region—the United States and Russia.
  • Topic: Security, Defense Policy, Geopolitics, Transparency
  • Political Geography: Russia, Japan, Taiwan, East Asia, Asia, North Korea, Korea, East China, United States of America
  • Author: Luke Patey, Elizabeth Wishnick
  • Publication Date: 03-2021
  • Content Type: Video
  • Institution: Weatherhead East Asian Institute, Columbia University
  • Abstract: From its Belt and Road Initiative linking Asia and Europe, to its "Made in China 2025" strategy to dominate high-tech industries, to its significant economic reach into Africa and Latin America, China is rapidly expanding its influence around the globe. Many fear that China's economic clout, tech innovations, and military power will allow it to remake the world in its own authoritarian image. But despite all these strengths, a future with China in charge is far from certain. Rich and poor, big and small, countries around the world are recognizing that engaging China produces new strategic vulnerabilities to their independence and competitiveness. Researching the book took Dr. Patey to East Africa, Latin America, Europe, and East Asia over the past five years and he will discuss how countries in these parts of the world are responding to China’s rise and assertiveness. This event was cosponsored by the Weatherhead East Asian Institute, the APEC Study Center and the Columbia Harvard China and the World Program at Columbia University.
  • Topic: Diplomacy, Economics, Geopolitics, Soft Power, Belt and Road Initiative (BRI)
  • Political Geography: China, Asia
  • Author: Jason Po-Nien Chen
  • Publication Date: 02-2021
  • Content Type: Video
  • Institution: Weatherhead East Asian Institute, Columbia University
  • Abstract: This talk was composed of three main sections. First, Dr. Chen introduced the DPP's evolving cross-Strait policy by breaking it down into three respective phrases:1990s, 2000s, and 2010s. Then he explained why the party changed from championing independence versus unification in 1990s; intraparty power struggle between de facto and de jure independence in 2000s; and reach the current position of "opposition to de facto unification under one China" rather than "pursuit of Taiwan de jure independence" in 2010s. Second, he shared his research finding and understanding regarding the DPP's view towards the status quo of cross-Strait relations. Third, he discussed the change and continuity of the DPP's position towards sovereignty and cross-Strait relations. Jason Chen has served in different positions in the Democratic Progressive Party for years mainly covering the party's external relations including cross-Strait relations and national security. His last position with the DPP was advisor (Section of National Security) in New Frontier Foundation, the DPP's think tank.
  • Topic: Sovereignty, Geopolitics, Domestic politics, Political Parties
  • Political Geography: China, Taiwan, Asia
  • Author: Billy Agwanda
  • Publication Date: 01-2021
  • Content Type: Journal Article
  • Journal: The Rest: Journal of Politics and Development
  • Institution: Centre for Strategic Research and Analysis (CESRAN)
  • Abstract: During the last two decades, key reforms in social, economic, and political structures have elevated Turkey into a rising regional power. In the Middle East, the increasing influence of Turkey for a better part of the last two decades has been reinforced by its humanitarian oriented foreign policy. Whereas this transformation is extensively attributed to the reform agenda by the Justice and Development Party (AKP), the last decade has proved to be challenging for Turkey’s foreign policy stance. Regional dynamics, such as the Syrian civil war, Qatar crisis, and the Kurdish question, have influenced Turkey to gradually shift from its previous subtle to a more assertive foreign policy. Additionally, the frequent domestic political challenges and economic pressure on the AKP government have only pushed Turkey further towards a more assertive Middle East foreign policy. This article examines how regional and domestic political developments are influencing Turkish foreign policy approach. The analysis will attempt to provide a comprehensive perspective on why Turkish geopolitical engagement and an increasingly assertive foreign policy that is characterised by unilateralism particularly in the pursuit of national and regional security is leading to its isolation.
  • Topic: Foreign Policy, Geopolitics, Domestic politics, Strategic Interests
  • Political Geography: Europe, Turkey, Asia