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291. Iran and the P5+1: Getting to "Yes"

Publication Date:
08-2014
Content Type:
Policy Brief
Institution:
International Crisis Group
Abstract:
That nuclear negotiations between Iran and the P5+1 (China, France, Russia, the UK, U.S. and Germany) were extended beyond the 20 July 2014 deadline was neither unexpected nor unwelcome. The parties ha d made enough headway to justify the extension, which was envisioned in the Joint Plan of Action (JPOA) that was signed in November 2013 and came into force in January, but given the political and technical complexity, they remain far apart on fundamental issues. Unless they learn the lessons of the last six months and change their approach for the next four, they will lose the opportunity for a resolution not just by the new 24 November deadline but for the foreseeable future. Both sides need to retreat from maximalist positions, particularly on Iran's enrichment program. Tehran should postpone plans for industrial- scale enrichment and accept greater constraints on the number of its centrifuges in return for P5+1 flexibility on the qualitative growth of its enrichment capacity through research and development.
Topic:
Development, Diplomacy, Economics, Nuclear Weapons, and Nuclear Power
Political Geography:
Russia, China, Iran, Middle East, and France

292. Is China's Property Market Heading toward Collapse?

Author:
Li-gang Liu
Publication Date:
08-2014
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
China's property market has slowed significantly since the first half of 2014, with sharp declines in sales and a buildup in the inventory of new homes. This sharper than expected downturn—which has affected not only second- and third tier smaller cities but also first-tier megacities such as Beijing, Shanghai, Shenzhen, and Guangzhou—contrasts with last year's buoyant sales and double-digit price surge. Compounded by fears of a default in the shadow banking system and the perception of a highly leveraged Chinese economy, the sudden declines in the property sector are being watched closely. Many commentators believe this could be a turning point for the sector, triggering a hard landing of the Chinese economy and even a financial crisis. Over the last decade, China's property sector has become an important pillar for the country's growth as well as the key source for elevated commodity prices. A property market slump would hurt other sectors, as well as drag down resource-rich economies that rely heavily on China to buy their exports.
Topic:
Economics, Financial Crisis, and Urbanization
Political Geography:
Japan, China, and United Nations