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41. A World Dividing: The International Implications of the Sino-American Rift

Author:
Chas W. Freeman Jr.
Publication Date:
11-2019
Content Type:
Policy Brief
Institution:
Quincy Institute for Responsible Statecraft
Abstract:
The Trump administration has declared economic war on China. The United States has raised taxes on Chinese imports to levels not seen since the Smoot–Hawley tariffs of the Great Depression. Over the course of this year, Chinese imports of American goods have decreased by 26.4 percent, while China’s exports to the United States are down 10.7 percent. Washington has embargoed exports to China of a constantly expanding list of high-tech manufactures. It seeks to block Chinese telecommunications companies from third-country markets. The United States has mounted a vigorous campaign to persuade other countries to reject Chinese investments in their infrastructure, notably in the case of 5G telecommunications networks.
Topic:
International Trade and Finance, Global Political Economy, Trade Wars, International Community, and Exports
Political Geography:
United States, China, Asia, and Global Focus

42. The Birth of the Modern Chinese Banking Industry: Ri Sheng Chang

Author:
Vivid Lam, Oenone Kubie, and Christopher McKenna
Publication Date:
11-2019
Content Type:
Case Study
Institution:
Oxford Centre for Global History
Abstract:
Pingyao (平遥) is a remote place for a tourist attraction. Located in the centre of Shanxi province, it is some 380 miles from Beijing and further from Shanghai or Hong Kong where the tourists tend to congregate. Yet, despite the isolation, come they do to Pingyao. The nearest airport to Pingyao is in Tiayuan, over one hundred kilometres away, so most visitors arrive by coach or by train; along the poorly paved streets and past the decaying houses until they arrive in the middle of the city. Here the tourists disembark from their coaches and their trains and find themselves transported to the days of the Qing dynasty emperors, surrounded by imperial architecture. The tourists wander slowly towards West Street. This is the home of the most popular attraction: the headquarters of Ri Sheng Chang (日昇), a late Qing company which revolutionised Chinese banking, now a museum and an increasingly busy tourist attraction. This is the story of how it came to be and how the little city in a small province in China rose to prominence, became the financial centre of the world’s largest economy, fell to obscurity and, now, rises again.
Topic:
Development, International Trade and Finance, History, Capitalism, and Global Political Economy
Political Geography:
China and Asia

43. Counting the Cost of Financial Warfare: Recalibrating Sanctions Policy to Preserve U.S. Financial Hegemony

Author:
Enea Gjoza
Publication Date:
11-2019
Content Type:
Policy Brief
Institution:
Defense Priorities
Abstract:
The American economy, dollar, and banking system create unparalleled power for the U.S. in the global financial system. This power provides disproportionate influence over the world’s key economic and financial institutions, regulatory authority over major foreign companies and banks, and allows borrowing on favorable terms and in dollars, enabling long-term deficit spending.
Topic:
Economics, International Trade and Finance, Hegemony, Sanctions, Finance, and Global Political Economy
Political Geography:
United States

44. A Fistful of Dollars? Foreign Sales Platforms and Profit Shifting in Tax Havens

Author:
Sébastien Laffitte and Farid Toubal
Publication Date:
01-2019
Content Type:
Working Paper
Institution:
Centre d'Etudes Prospectives et d'Informations Internationales (CEPII)
Abstract:
Using public macro-level data on activities of multinationals, we document that U.S. firms geographically disconnect sales and production to avoid paying corporate taxes. We revisit both theoretically and empirically the location determinants of foreign platforms and show that market access motives are far less relevant when considering tax havens. We characterize these countries and shed light on the attractiveness of different tax havens for specific sectors of activity. Our quantification shows that profit shifting by foreign sales platforms in tax havens amounts to about $80bn in 2013. Our findings contribute to the recent policy debate on the reform of international taxation.
Topic:
Economics, International Political Economy, Global Political Economy, Multinational Corporations, Tax Systems, and Corporate Tax
Political Geography:
United States

45. The Aid Effectiveness Agenda: Past experiences and future prospects

Author:
Erik Lundsgaarde and Lars Engberg-Pedersen
Publication Date:
06-2019
Content Type:
Special Report
Institution:
Danish Institute for International Studies (DIIS)
Abstract:
The 2005 Paris Declaration on Aid Effectiveness provided an important framework for encouraging donor and partner countries to adapt aid management practices to make development cooperation more effective. The agenda it advanced has since lost visibility, even among aid providers that were once its strongest advocates. This DIIS report, written by Senior Researcher Erik Lundsgaarde and Senior Researcher Lars Engberg-Pedersen, indicates that there are several explanations for the declining attention to Paris Declaration principles. Implementation of the agenda was challenging from the outset due to different starting points among countries, the tension between a universal approach and the need to adapt cooperation approaches to varied contexts, and the tradeoffs involved in implementing prescriptions such as increasing partner ownership, strengthening donor coordination, and improving results management. In spite of these challenges, the authors argue that core ideas from the Paris Declaration remain valid today. In particular, the importance of fostering partner ownership and measuring results has not faded. Improving the consistency of how donors pursue these objectives in practice is essential in carrying lessons from decades of development cooperation experience forward.
Topic:
Development, Diplomacy, Environment, International Organization, Treaties and Agreements, Natural Resources, and Global Political Economy
Political Geography:
Global Focus

46. Denmark's China Challenge

Author:
Luke Patey
Publication Date:
10-2019
Content Type:
Policy Brief
Institution:
Danish Institute for International Studies (DIIS)
Abstract:
A common refrain in Denmark is that China is too far away to be a threat to Danish economic, foreign and security policy interests. This is no longer the case. Danish policy-makers acknowledge that China’s rise as a global superpower presents Denmark with new challenges. However, transforming this strategic thinking into practice is no simple task. Recommendations Intensify cooperation between the Ministries of Defense and Foreign Affairs to ensure Denmark’s initiatives in foreign policy, security and economic relations with China are more closely integrated. Beware of the bilateral. Beijing’s new assertive foreign policy and US-China strategic competition require that Denmark leverage its interests increasingly through the EU, NATO and other multilateral bodies. Assess the economic vulnerabilities of Danish industries in China and diversify trade and investment across Asia’s emerging markets and developed economies in the G7/EU.
Topic:
Security, Foreign Policy, Defense Policy, Power Politics, Bilateral Relations, Cybersecurity, and Global Political Economy
Political Geography:
China, Europe, Asia, and Denmark

47. EU Pressure on Niger to Stop Migrants is Reshaping Cross-Border Economies: From migrants to drugs, gold, and rare animals

Author:
Hans Lucht and Luca Raineri
Publication Date:
12-2019
Content Type:
Policy Brief
Institution:
Danish Institute for International Studies (DIIS)
Abstract:
Though the four-by-fours with migrants still leave regularly for Libya, there’s little doubt that EU driven anti-migration efforts in the Agadez region of Niger has been a blow to the local cross-border economy. POLICY RECOMMENDATIONS ■ EU interventions in Niger have had an unintended negative effect on the safety of migrants. It’s therefore important to maintain focus on rescue missions in the desert. ■ Europe must ensure that conflict and context sensitivity remain paramount as well as promoting alternative development opportunities and good governance. ■ National, local and traditional authorities should continue to avoid conflicts linked to natural resources, including gold, uranium, pasturelands and water, by promoting transparency and participatory decision-making.
Topic:
International Relations, Development, Migration, Poverty, Border Control, European Union, Inequality, Fragile States, and Global Political Economy
Political Geography:
Africa, Libya, North Africa, and Niger

48. Changing Perspectives in Political Economy

Author:
Renate Mayntz
Publication Date:
07-2019
Content Type:
Working Paper
Institution:
Max Planck Institute for the Study of Societies
Abstract:
The history of a research field called political economy dates back to the eighteenth century, giving rise to a variety of disciplinary approaches, and experienced a renaissance as a mul- tidisciplinary field after the Second World War, combining economic, political science, and sociological approaches. The divergence between economic globalization and the nation- ally restricted scope of economic policy directs interest to the relationship between politics and the economy. A quantitative analysis of the articles published in two dedicated political economy journals shows major trends of the developing research field. The relationship between politics and economy is interpreted rather widely, and research is largely focused on Western capitalist nations. In conclusion, two avenues for further research in the field are briefly discussed.
Topic:
Political Economy, Regional Cooperation, Capitalism, and Global Political Economy
Political Geography:
Europe, Germany, Central Europe, and Western Europe

49. A Vision of Africa's Future

Author:
Giovanni Carbone
Publication Date:
10-2018
Content Type:
Special Report
Institution:
Italian Institute for International Political Studies (ISPI)
Abstract:
Africa is a fast-changing continent and an area of rising global relevance, where major transformation processes are currently underway, from demographic expansion to economic development, from social progress to environmental challenges, from technological innovation to continental integration, from political change to migratory pressures. How will these complex transformations shape the Africa of tomorrow? This Report sets out a vision for Africa’s future based on five key traits: an archipelago of heterogeneous growth trajectories; the revolutionary impact of technological leapfrogging; regional integration and the growing role of sub-regional processes; the clustering of instability mainly around the core of the region; and the migration movements that originate from – but also predominantly remain within – the African continent.
Topic:
International Affairs and Global Political Economy
Political Geography:
Africa

50. The Arc of Crisis in the MENA Region

Author:
Karim Mezran and Arturo Varvelli
Publication Date:
10-2018
Content Type:
Special Report
Institution:
Italian Institute for International Political Studies (ISPI)
Abstract:
The Arc of Crisis in the MENA Region volume deals with the countries of the Middle East and North Africa that are facing a particularly troubled period in their historical development. Syria, Iraq, Libya, Egypt and to a lesser extent Jordan and Tunisia have plunged into a legitimacy crisis that in some cases has turned into civil war or violent upheaval. As traditional authorities lose their legitimacy, two alternatives are emerging. The first is a more decentralized system of government, evinced by the empowerment of subnational government bodies and the growing legitimacy of local authorities; in this trend, the local authorities are able to keep the state united and more functional. The second is a growing number of political groups that act as opposition to authoritarianism, which is experiencing a revival. The analysis herein also focuses on Islamist movements; namely, their organizational and ideological development as well as how the shrinking of the political space affects them and the entire polity. This Report explores the distinctive dynamics and characteristics of these challenges in the post-Arab Spring era.
Topic:
International Affairs, Global Security, and Global Political Economy
Political Geography:
Middle East and North Africa

51. Coming to Terms with China at the World Bank and in Development Finance

Author:
Scott Morris
Publication Date:
12-2018
Content Type:
Research Paper
Institution:
Center for Global Development (CGD)
Abstract:
First, we should recognize that much of the value of the IFIs for the United States derives from their multilateral character. It greatly oversimplifies things to suggest they are strictly a US tool, available to do our bidding no matter what the issue. The reality is that when we want to get something done in these multilateral institutions, we need to work with other countries. In turn, these institutions are most effective when they have the buy-in of the largest number of their member countries. And when the United States is seeking something from them that doesn’t have broad-based support, it can be a tough road.
Topic:
Global Political Economy
Political Geography:
Global Focus

52. Global Debt Dynamics: What Has Gone Wrong

Author:
Andreas Antoniades and Stephany Griffith-Jones
Publication Date:
01-2018
Content Type:
Working Paper
Institution:
Centre for Global Political Economy, University of Sussex
Abstract:
This paper analyses the nature and characteristics of global debt dynamics in the post global financial crisis (GFC) period. First, we attempt to map the ways in which debt has been moving from sector to sector, and from one group of countries to another within the global economy. By capturing this inter-sectorial, inter-national, inter-regional movements of global debt we aspire to contribute to a more comprehensive understanding of global debt and its mode of operation. Second, we attempt to analyse what is wrong with global debt dynamics, i.e. we examine the broken link between what global debt was supposed to do and what it does. Here, we point to three interrelated dynamics: the accumulation of unproductive debt, growing inequalities of income and wealth, and the increase in privately-created, interest-bearing money.
Topic:
Debt, Economics, Global Recession, Financial Crisis, and Global Political Economy
Political Geography:
United States, Global Focus, and Global Markets

53. From Deng to Xi: Economic Reform, the Silk Road, and the Return of the Middle Kingdom

Author:
LSE Ideas
Publication Date:
01-2018
Content Type:
Working Paper
Institution:
LSE IDEAS
Abstract:
This LSE IDEAS Special Report - with senior contributors from politics, journalism, and academia - looks at the internal causes and consequences of the return of the 'Middle Kingdom'. It explores the extent to which Deng's momentous economic reforms in 1978 have shaped modern China, what the country's expanded international role under Xi means, and who really makes Chinese foreign policy.
Topic:
International Affairs and Global Political Economy
Political Geography:
China

54. The construction of the Grand Ethiopian Renaissance Dam (GERD) and geopolitical tension between Egypt and Ethiopia with Sudan in the mix

Author:
Michael Asiedu
Publication Date:
01-2018
Content Type:
Policy Brief
Institution:
Global Political Trends Center (GPoT)
Abstract:
Egypt's President Abdel Fattah al-Sisi indicated in a televised broadcast on 16 January, 2018 that his country neither wants war with Sudan nor Ethiopia; Egypt was also not looking to meddle in the internal affairs of these two countries. These pronouncements came at the backdrop of what is proving to be a challenge for these three countries, the construction of the Grand Ethiopian Renaissance Dam (GERD), the largest hydro-electric dam project in Africa. This policy brief gives a snapshot of the brewing tension surrounding the GERD and some of the regional geopolitical concerns as well as an alternative for a workable solution.
Topic:
International Relations and Global Political Economy
Political Geography:
Ethiopia

55. Could Trump Deliver Iran an Oil Windfall?

Author:
Richard Nephew
Publication Date:
07-2018
Content Type:
Commentary and Analysis
Institution:
Center on Global Energy Policy (CGEP), Columbia University
Abstract:
The president’s recent statement that OPEC should reduce their prices may merely be an attempt to assign blame for rising gasoline prices in the midst of the US driving season or an even more cynical attempt to rally his political base in opposition to globalism. Or, it may have something to do with the president’s own decision to create a crisis with Iran. While attention is duly paid to how much Americans have to pay at the pump, a more subtle and complicated story will soon play out with respect to Iran and the reapplication of US sanctions ordered by Trump on May 8, 2018. In fact, unless oil prices are contained, the primary result of the president’s action may be to ensure that Iran profits from the oil market risks that sanctions have created.
Topic:
Energy Policy, Geopolitics, and Global Political Economy
Political Geography:
America, Iran, and Global Focus

56. The Crisis of Global Politics: Perspectives from Continental Philosophy

Author:
Josefin Graef, Scott Hamilton, Benjamin Martill, Elke Schwarz, and Uta Staiger
Publication Date:
08-2018
Content Type:
Special Report
Institution:
LSE IDEAS
Abstract:
Can the work of the great European philosophers help solve Europe's problems today? This report explores what we can learn from Heidegger, Arendt, and Anders about how to tackle populism, climate change, and technological change
Topic:
Political Theory and Global Political Economy
Political Geography:
Global Focus

57. Caribbean Economies and the Year Ahead 2018

Author:
Scott MacDonald
Publication Date:
01-2018
Content Type:
Working Paper
Institution:
Center for Strategic and International Studies (CSIS)
Abstract:
Caribbean economies face 2018 with mixed prospects. While overall trends are positive for most countries, a number of economies are still struggling from the damage sustained during last year’s hurricane season. The positive forces at work are a stronger global economic expansion, improving prospects for tourism, development of the oil industry in the Guiana Shield, and a strengthening in commodity prices. On the negative side are the costs of reconstruction, ongoing fiscal pressures in a handful of states, and the increasing negative consequences of an imploding Venezuela. Significant questions continue to exist as to U.S. policy in the region, spillover of Brexit, Chinese Caribbean policy, and a rising level of Russian engagement in some countries. In all of this, the Caribbean remains vulnerable to events external to the region and increasingly needs to focus on digital technology and how it can be applied to make local economies more competitive. During much of 2017, growth prospects were generally positive, helped along by a stronger expansion in the advanced economies, stabilization in commodity prices, and a higher level of remittances from the Caribbean diaspora. The Dominican Republic led the way, though at a slower pace than the year prior due to efforts to reduce the fiscal deficit. Better tourist numbers also lifted growth prospects in much of the Eastern Caribbean and Jamaica. The laggards were Puerto Rico (with a $72 billion debt crisis), the U.S. Virgin Islands (dealing with acute fiscal pressures), Barbados (struggling with deteriorating public finances and reduced capital market access), and commodity exporters Suriname and Trinidad and Tobago. While most Caribbean countries and dependencies were fortunate to avoid massive destruction during the 2017 hurricane season, storms Irma and Maria brought considerable disruption to Barbuda, Dominica, St. Martin (both the French and Dutch sides), the British Virgin Islands, and U.S. Virgins Islands. Category 5 Hurricane Maria in September was the worst natural disaster on record in Dominica and certainly ranks in the top 10 for Puerto Rico. Indeed, both Dominica and Puerto Rico were left effectively without economies.
Topic:
Oil, Natural Disasters, Tourism, Digital Economy, and Global Political Economy
Political Geography:
Caribbean, Dominican Republic, Jamaica, Barbados, and Puerto Rico

58. Meeting the China Challenge Responding to China’s Managed Economy

Author:
James Andrew Lewis and John J. Hamre
Publication Date:
01-2018
Content Type:
Working Paper
Institution:
Center for Strategic and International Studies (CSIS)
Abstract:
The U.S.-China relationship is one that neither country can escape. Both benefit from it in important ways. The question for quite some time, though, has been whether China’s economy, international presence, and participation in global institutions would come to look more like our own, or whether it would seek to challenge the order the United States has built and led over the past 70 years. While China’s economic size does not necessarily threaten the United States, China’s willingness to use its economic leverage to forge a global economy closer to its image raises complicated questions considering its lack of transparency. The essays in this volume, written by a diverse group of CSIS scholars, address some of the key issues that currently vex the U.S.-China economic relationship.
Topic:
Diplomacy, Global Political Economy, and Economic Cooperation
Political Geography:
United States, China, Asia, North America, and Asia-Pacific

59. Pakistan’s Gwadar Port: A New Naval Base in China’s String of Pearls in the Indo-Pacific

Author:
Gurmeet Kanwai
Publication Date:
04-2018
Content Type:
Working Paper
Institution:
Center for Strategic and International Studies (CSIS)
Abstract:
The Issue The development of Gwadar Port is a key element of the greater China-Pakistan Economic Corridor (CPEC). It speaks to both the strength of the China-Pakistan relationship and the reach of China’s grand strategy. With Pakistan’s two other major ports operating near capacity with no room for expansion, projects in Gwadar promise to eventually handle one million tons of cargo annually, while also providing significant industrial, oil, and transportation infrastructure. Though a “monument of Pakistan-China friendship,” there are misgivings on both sides about CPEC, including the safety of Chinese workers, the resentment of Baloch nationalists, and the growing debt trap created by the project. The prospect of the PLA Navy in Gwadar poses greater security questions, as it forms another link in China’s efforts to expand its maritime presence in the Indo-Pacific region. The members of the Quadrilateral Security Dialogue, or “Quad,” comprised of India, Japan, Australia, and the United States, should counter China’s strategic outreach by networking with other like-minded countries on cooperative security frameworks to ensure a free, open, prosperous, and inclusive Indo-Pacific region.
Topic:
Security, Oil, Regional Cooperation, Global Political Economy, and Trade
Political Geography:
Pakistan, United States, Japan, China, Middle East, India, Asia, and Australia

60. Rebooting U.S.-China Trade Ties: “Enter Ye Through the Narrow Gate”

Author:
Christopher K Johnson
Publication Date:
05-2018
Content Type:
Working Paper
Institution:
Center for Strategic and International Studies (CSIS)
Abstract:
Nearly two weeks after the U.S. “Trade Avengers” unleashed during their visit to Beijing what one reasonably could call “trade shock and awe” with a very aggressive—if thoroughly researched and well-crafted—set of demands targeting the yawning U.S. trade deficit with China and the core of that country’s throaty industrial policy, China this week is taking its turn with the visit of Chinese Communist Party (CCP) Politburo member and Vice Premier Liu He, President Xi Jinping’s economic point man who is almost universally described as a thoughtful, pragmatic, and mild-mannered policy academic. In the interim, voices from a wide swath of official Washington have sounded the alarm about the dangers of Chinese influence operations and the presence of alleged subversives, while President Trump himself seemed to cast aside these growing concerns by suggesting via Twitter that he would ask the Commerce Department to overturn its action against the Chinese telecommunications firm ZTE—long a focus of the U.S. security community for suspected cyber espionage activity and irrefutable violations of U.S. law—in response to protests that reportedly emanated directly from President Xi. With such frenetically sustained action in such a short period of time, the fog of war seems particularly thick at the moment. As such, it seems like a good time to slow down and have a think about how we got here, what actually is going on, and, with a little bit of luck, perhaps think about some ways to craft a viable way forward. Just like milestone birthdays in one’s personal life, important political anniversaries also can incline the mind toward reflection. Next year, of course, marks the fortieth anniversary of the reestablishment of diplomatic ties between the United States and China. As such, much breath and a lot of ink have been devoted to analyzing the course of the bilateral relationship over that nearly half-century. Although certainly not a universal opinion, it seems fair, if perhaps overly reductionist, to suggest that the general conclusion among a substantial number of U.S. officials, policy analysts, and journalists has been that the consistent U.S. policy emphasis on engagement with China during those forty years was, at the end of the day, a sham. In this rendering, naïve groups of senior policymakers in succeeding U.S. administrations and in most of the U.S. China-watching community were hoodwinked by wily CCP leaders who talked the talk of integrating into the so-called U.S.-led rules-based international order, but all the while they had a secret master plan to instead subvert that order and challenge U.S. primacy throughout the globe. In a slightly less menacing (if no less absurd) version of this narrative, China was, indeed, headed generally toward this hoped for integration under the stewardship of deceased paramount leader Deng Xiaoping and his handpicked successors Jiang Zemin and Hu Jintao until Xi Jinping arrived and, through a ruthless consolidation of power, decided instead to change course in what now regularly is referred to in shorthand as Xi’s “authoritarian turn.” But this conclusion seems utterly wrongheaded when examined in the light of hard facts. On the Chinese side of the equation, for example, Deng Xiaoping may have appeared warm and cuddly when donning his cowboy hat during his famous 1979 visit to the United States, but he could be just as ruthless and grasping as any other authoritarian leader. Deng’s exceptionally courageous and dogged pursuit of the policies of reform and opening certainly are worthy of praise, but they cannot, and therefore should not, be separated from the fact that he was content to sit idly by as Chairman Mao’s loyal lieutenant as Mao decimated his political rivals during the Anti-Rightist Campaign (1957-59) and the Great Leap Forward (1958-62). Nor should we forget that Deng used every ounce of his massive personal prestige with the People’s Liberation Army to, with steely determination, rally his many reluctant commanders to execute the brutal Tiananmen crackdown of June 4, 1989. Similarly, Xi Jinping is no Jack-in-the-Box-like figure who has pulled a fast one with a sharp directional turn in the last couple of years made all the more stark after his sweeping consolidation of power at last fall’s 19th Party Congress. In fact, it is this author’s contention, as supported by a large body of written work and public commentary, that everything Xi has done over the last five years was abundantly clear, whether explicitly or in embryonic form—from the moment he was introduced to the world as China’s new top leader in the fall of 2012, as encapsulated in his call for his country to pursue the “China Dream” set on a foundation of “the great rejuvenation of the Chinese nation.” This by no means suggests the United States should express support for, or even acquiescence in, Xi’s policies, but only that it should not be reacting with the borderline hysteria that now seems to be gripping Washington.
Topic:
Security, Diplomacy, Global Political Economy, and Trade Wars
Political Geography:
United States, China, Asia, and North America