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122. Digitalization of Special Economic Zones in China
- Author:
- Jie (Jeanne) Huang
- Publication Date:
- 01-2022
- Content Type:
- Working Paper
- Institution:
- China Studies Centre, The University of Sydney
- Abstract:
- Special Economic Zones (SEZ) have become the forefront in China to test legal and technological reforms for digital trade. This chapter explores three cutting-edge case studies in China’s SEZs: the Beijing blockchain-based Single Window deposit box; newly established big data exchanges in Beijing, Tianjin, and Shanghai SEZs; and pilot projects in financial, medical care and automobile industries to flow data across the border in the Shanghai SEZ. It scrutinizes China's experiments in the context of its applications to join CPTPP and DEPA. It argues that the development of Chinese domestic law for digital trade is shifting away from the traditional paradigm that uses international commitments to push domestic reform or make domestic law according to international law. The development of Chinese domestic law for digital trade relies much more on China’s domestic needs than what FTAs negotiations require. FTAs are increasingly becoming a tool for China to shape international law rather than a benchmark for legislating domestic Chinese law.
- Topic:
- Development, Economics, International Trade and Finance, Hegemony, and Digitalization
- Political Geography:
- China and Asia
123. European unilateralism as a tool for regulating international trade: a necessary evil in a collapsing multilateral system
- Author:
- Alan Hervé
- Publication Date:
- 03-2022
- Content Type:
- Policy Brief
- Institution:
- Robert Schuman Foundation (RSF)
- Abstract:
- The carbon border adjustment mechanism (CBAM), the fight to prevent illegal foreign subsidies, the ban on trade in deforestation products, the due diligence obligation imposed on European companies, the anti-coercion regulation, the reciprocity instrument in public procurement, the foreign investment screening regulation, not to mention the set of exceptional trade measures implemented in the context of the Covid-19 pandemic and the invasion of Ukraine; there is a long list of decisions adopted and under discussion that mark the European Union's determination to decide alone on the regulation of trade between itself and the rest of the world. This European "neo-unilateralism" is certainly based on a logic that is not entirely new - the defence of the Union's interests through trade policy or trade regulation instruments - but it also presents singular features and reflects political choices that prevail, more than in the past, over strict mercantile considerations. It is a vehicle for promoting the European Union's strategic autonomy in a multilateral system that is in the process of collapsing and an international order that has been hit by crises.
- Topic:
- International Trade and Finance, European Union, Multilateralism, International System, and Unilateralism
- Political Geography:
- Europe
124. Carbon Pricing During an Energy Crisis
- Author:
- Harrison Fell and Pierre Noel
- Publication Date:
- 03-2022
- Content Type:
- Commentary and Analysis
- Institution:
- Center on Global Energy Policy (CGEP), Columbia University
- Abstract:
- The European energy crisis, aggravated by the Russian invasion of Ukraine, amplifies the tension between climate mitigation action and energy affordability. Introducing a more effective safety valve to the EU carbon market could reduce affordability concerns and the political pressure associated with extreme price spikes, making the system more resilient. It could be accompanied by a more effective price floor too.
- Topic:
- Energy Policy, International Trade and Finance, Conflict, Carbon Emissions, and Energy Crisis
- Political Geography:
- Europe
125. Energy Markets and the Design of Sanctions on Russia
- Author:
- Christof Ruhl
- Publication Date:
- 03-2022
- Content Type:
- Commentary and Analysis
- Institution:
- Center on Global Energy Policy (CGEP), Columbia University
- Abstract:
- Sanctions against the citizens, institutions, and products of the Russian Federation are evolving rapidly. Energy sanctions started late, but the number of countries embargoing oil, gas, or coal imports from Russia is expanding. These sanctions are likely to increase global fuel prices while depressing the price of the sanctioned fuel. The experience to date suggests that the current, gradual approach of reducing oil and gas imports from Russia one country at a time may have room to go further. Before the invasion of Ukraine, the sweeping and unprecedented sanctions promised in the event of a Russian invasion were often conceived as a two-pronged pincer movement. The idea was to isolate Russia from the global financial system while limiting its commodity and energy exports. Both moves were aimed at the source of the financial strength of “fortress Russia,” namely, its persistent balance of payment surplus.
- Topic:
- Energy Policy, International Trade and Finance, Sanctions, Financial Markets, and Conflict
- Political Geography:
- Russia and Europe
126. International Practice of Sanction Evasion and Circumvention Possibilities for Russia
- Author:
- Davit Shatakishvili
- Publication Date:
- 04-2022
- Content Type:
- Special Report
- Institution:
- Georgian Foundation for Strategic International Studies -GFSIS
- Abstract:
- Sanctions play a special role in the economic and political life of the world. Historically, despite their various forms of use, sanctions have acquired an essentially functional substance in the 20th century. The goal of the sanctions is primarily to ensure global peace. In case of violation of market principles, military aggression, or disregard for the rules established between nations, the violator is sanctioned by specific countries and/or groups of states, who, in doing so, aim to bring it back to the norms of international law. Sanctions increase political and economic pressure on the target country, which are reflected in various dimensions and quantitative figures. Consequently, the country loses some of its political leverage and experiences tangible economic regress. For the sake of universal peace and global security, the policy of sanctions has not lost its relevance in the 21st century. As a result of Russia’s aggressive military intervention in Ukraine, the world community has applied an unprecedented package of sanctions against the aggressor, which has spread to almost every industry of the country and is still being added to. In this regard, Russia broke the anti-record and surpassed countries such as North Korea, Iran, Syria, and Venezuela. Over the decades, sanctioned countries have accumulated extensive experience on how to circumvent the imposed sanctions, so as to at least partially help the country overcome the economic difficulties. It is interesting which ways and schemes such countries use to circumvent the restrictions, and based on that experience, what opportunities there are for the Russian Federation to do the same and evade the sanctions imposed on it, a move which will not only limit but also further pave the way for its aggressive foreign policy and threaten world peace.
- Topic:
- Security, Foreign Policy, International Trade and Finance, Oil, Sanctions, Global Markets, Cryptocurrencies, and Russia-Ukraine War
- Political Geography:
- Russia and Eurasia
127. Economic Equidistance is Not an Option: Germany and the US-Chinese Geo-Economic Conflict
- Author:
- Markus Jaeger
- Publication Date:
- 01-2022
- Content Type:
- Policy Brief
- Institution:
- German Council on Foreign Relations (DGAP)
- Abstract:
- Intensifying US-Chinese rivalry will increase pressure on Germany to support a more hawkish US geo-economic policy. The new German government should give Washington support in as far as US policies seek to create an economic level playing field vis-à-vis China. Given its dependence on international trade and investment, Germany should seek to resist a broader politicization of international economic relations.
- Topic:
- Economics, International Trade and Finance, Geopolitics, and Rivalry
- Political Geography:
- China, Germany, and United States of America
128. The Israeli Economy in an Uncertain Global Environment
- Author:
- Tomer Fadlon and Esteban F. Klor
- Publication Date:
- 08-2022
- Content Type:
- Working Paper
- Institution:
- Institute for National Security Studies (INSS)
- Abstract:
- Economic uncertainty has increased in recent months following the macroeconomic figures published by the major economies. The return of inflation, the supply chain crisis, and the war in Ukraine are leaving their mark on the global economy and arouse concern among both politicians and central banks. In contrast to most of the world's countries, Israel seems like an island of economic stability: inflation is relatively low, and while Western countries are posting negative growth, second-quarter growth in Israel exceeded the expectations. Yet despite the positive data, the slowdown among Israel's main trading partners is expected to affect the local economy, which will have to contend with a challenging economic environment in the coming months.
- Topic:
- Economics, Globalization, International Trade and Finance, Inflation, and Supply Chains
- Political Geography:
- Middle East and Israel
129. A Gateway to Africa? Economic Opportunities in Israel-Morocco Relations
- Author:
- Morr Link
- Publication Date:
- 05-2022
- Content Type:
- Working Paper
- Institution:
- Institute for National Security Studies (INSS)
- Abstract:
- Since renewing diplomatic relations between Jerusalem and Rabat, the scope of trade indeed has grown between the two countries, but the full potential still has not been realized. How can the economic cooperation be improved, which also entails many policy opportunities for both Israel and Morocco?
- Topic:
- Economics, International Cooperation, International Trade and Finance, Bilateral Relations, and Economic Cooperation
- Political Geography:
- Africa, Middle East, Israel, and Morocco
130. Functional Specialisation in EU Value Chains: Methods for Identifying EU Countries’ Roles in International Production Networks
- Author:
- Aleksandra Kordalska, Magdalena Olczyk, Roman Stöllinger, and Zuzana Zavarská
- Publication Date:
- 08-2022
- Content Type:
- Special Report
- Institution:
- The Vienna Institute for International Economic Studies (WIIW)
- Abstract:
- Geographically dispersed production networks have allowed countries to specialise in different functions of the value chain. By making use of two methodologies for quantifying the magnitude of functional specialisation – one based on trade flows and one based on FDI flows – detailed profiles of the functional specialisations of EU member states are identified. The analyses are conducted at the country, industry and regional level. In line with the existing literature, they reveal that EU-CEE countries are predominantly specialised in the fabrication stage, that is, they serve as ‘factory economies’, while the Western EU countries are mainly performing knowledge-intensive pre-fabrication activities – a characteristic of ‘headquarter economies’. This dualism within the EU is confirmed by a cluster analysis. While functional specialisation patterns tend to be persistent, especially in the fabrication stage, there are also some signs of functional diversification in EU-CEE countries in more recent years. Still, these functional changes remain limited to a few industries. The dichotomy of factory and headquarter economies is also clearly discernible at the regional level. However, the fact that in most EU countries – mainly in the capital regions – there are some headquarter-type regions implies that a complete functional ‘lock-in’ in fabrication is less likely than suggested by the country-level patterns. Hence, while the results point towards major difficulties of functional diversification beyond the fabrication stage in the EU-CEE countries and regions, there are also several promising elements and trends discernible, in particular at the industry and the regional level.
- Topic:
- International Trade and Finance, European Union, Economy, Value Chains, Specialization, and Competition
- Political Geography:
- Europe