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11. The West must allow a power shift in international organizations

Author:
Jakob Vestergaard and Robert Hunter Wade
Publication Date:
12-2013
Content Type:
Policy Brief
Institution:
Danish Institute for International Studies
Abstract:
More than three years after the International Monetary Fund (IMF)'s governing body agreed to reform the organization's governance so as to better reflect the increasing economic weight of dynamic emerging market economies in the world economy, only microscopic changes have been made. Emerging market and developing countries (EMDCs) have become increasingly frustrated with Western states for clinging to their inherited power, in the IMF and other important international economic governance organizations. The emerging cooperation among the BRICS (Brazil, Russia, India, China, South Africa) – as seen in the advanced-stage negotiations to establish a Development Bank and a Contingent Reserve Arrangement – sends a “wake up and smell the coffee” call to the West, and the latter will carry a heavy responsibility for eroding global multilateral governance if it continues to drag its heels on the needed adjustments.
Topic:
Development, Economics, Emerging Markets, International Monetary Fund, Governance, and Reform
Political Geography:
Russia, China, India, South Africa, and Brazil

12. Three challenges for China's outward FDI policy

Author:
Karl P. Sauvant
Publication Date:
10-2013
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
Since China adopted its "going out" policy in 2001, her outward foreign direct investment (OFDI) flows have grown rapidly, reaching US$84 billion in 2012 (although the stock remains small). That year, China was the world's third largest outward investor (after the US and Japan). This performance raises all sorts of issues, especially because state-owned enterprises (SOEs) control some three-quarters of the country's OFDI stock. Three challenges are addressed in this Perspective.
Topic:
Development, Economics, Emerging Markets, and Foreign Direct Investment
Political Geography:
United States, Japan, and China

13. China's impact on conflict and fragility in South Asia

Author:
Clare Castillejo
Publication Date:
01-2013
Content Type:
Working Paper
Institution:
Norwegian Centre for Conflict Resolution
Abstract:
China is expanding its engagement across South Asia, with significant implications for the region's most fragile states. Western donors and peacebuilding actors are aware of this changing context and concerned about their resulting loss of influence. Yet they have so far failed to develop a coordinated response or to engage effectively with China regarding its impact on fragility within the region.
Topic:
Arms Control and Proliferation, Emerging Markets, International Political Economy, International Trade and Finance, and Regional Cooperation
Political Geography:
China, South Asia, Israel, and Asia

14. How much did China's WTO accession increase economic growth in resource-rich countries?

Author:
Mikkel Barslund, Thomas Barnebeck Andersen, Casper Worm Hansen, Thomas Harr, and Peter Sandholt Jensen
Publication Date:
10-2013
Content Type:
Working Paper
Institution:
Centre for European Policy Studies
Abstract:
This Working Document provides an estimate of China's impact on the growth rate of resource-rich countries since its WTO accession in December 2001. The authors' empirical approach follows the logic of the differences-in-differences estimator. In addition to temporal variation arising from the WTO accession, which they argue was exogenous to other countries' growth trajectories, the authors exploit spatial variation arising from differences in natural resource wealth. In this way they can compare changes in economic growth in the pre- and post-accession periods between countries that benefited from the surge in demand for industrial commodities brought about by China's WTO accession and countries that were less able to do so. They find that that roughly one-tenth of the average annual post-accession growth in resource-rich countries was due to China's increased appetite for commodities. The authors use this finding to inform the debate about what will happen to economic growth in resource-rich countries as China rebalances and its demand for commodities weakens.
Topic:
Economics, Emerging Markets, Globalization, Industrial Policy, and International Trade and Finance
Political Geography:
China

15. Sailing Against the Current – China-U.S. Relations in the Next Stage

Author:
Yu Bianjiang
Publication Date:
06-2013
Content Type:
Working Paper
Institution:
Institute for the Study of Diplomacy, Edmund A. Walsh School of Foreign Service, Georgetown University
Abstract:
In recent years, “rebalancing” has been a buzzword in the U.S.'s Asia-Pacific policy and naturally also in U.S.-China relations. Some believe this rebalancing has been quite successful and refer to this as the hallmark of President Barack Obama's first-term foreign policy.  At the same time, others, both within and outside of America, have expressed different opinions. The most critical point is that while the U.S. administration has argued that rebalancing is an integrated strategy with military, diplomatic, and economic initiatives intended to strengthen U.S. involvement in the Asia-Pacific area, in practice, rebalancing has been depicted and implemented in more military terms, with the United States shifting its troops and resources from wars in Iraq and Afghanistan to the Asia- Pacific region. “The military soundtrack has the volume turned up too loud.”.
Topic:
Foreign Policy, Defense Policy, Arms Control and Proliferation, Emerging Markets, Bilateral Relations, and Armed Forces
Political Geography:
United States, China, Israel, Asia, and Australia/Pacific

16. China: Superpower or Superbust?

Author:
Ian Bremmer
Publication Date:
11-2013
Content Type:
Journal Article
Journal:
The National Interest
Institution:
Center for the National Interest
Abstract:
AS IF a global financial-market meltdown, the deepest U.S. recession in seventy years, an existential crisis in the euro zone and upheaval in the Middle East hadn't already created enough trouble for one decade, now the unrest and anxiety have extended to some of the world's most attractive emerging markets. Just in the past few months, we've seen a rough ride for India's currency, furious nationwide protests in Turkey and Brazil, antigovernment demonstrations in Russia, strikes and violence in South Africa, and an ominous economic slowdown in all these countries.
Topic:
Emerging Markets
Political Geography:
China, Turkey, Middle East, South Africa, and Brazil

17. Why Growth in Emerging Economies Is Likely to Fall

Author:
Anders Åslund
Publication Date:
11-2013
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
Emerging-market growth from 2000 to 2012 was untypically high. This paper highlights the many reasons why emerging-economy growth is likely to be lower going forward. Much of the catch-up potential has already been used up. The extraordinary credit and commodity booms are over, and many large emerging economies are financially fragile. They have major governance problems, so they need to carry out major structural reforms to be able to proceed with a decent growth rate, but many policymakers are still in a state of hubris and not very inclined to opt for reforms. They are caught up in state and crony capitalism. Rather than providing free markets for all, the West might limit its endeavors to its own benefit. Economic convergence has hardly come to an end, but it has probably reached a hiatus that is likely to last many years. The emerging economies need to improve their quality of governance and other economic policies substantially to truly catch up. For a decade or so, the West could take the global economic lead once again as in the 1980s.
Topic:
Economics, Emerging Markets, International Trade and Finance, Monetary Policy, and Governance
Political Geography:
Russia, China, India, South Africa, and Brazil

18. The concept of "rising powers"

Author:
Pinar Tank
Publication Date:
06-2012
Content Type:
Policy Brief
Institution:
Norwegian Centre for Conflict Resolution
Abstract:
The end of the cold war and the bipolar world order heralded an era of transition for global governance. Twenty years on there is still no consensus on the status of the distribution and exercise of power in today's multipolar world. What is clear, however, is the rise of new powers seeking a global political role comparable with their increased economic clout. Often referred to as the BRICS – Brazil, Russia, India, China, and South Africa – to which second-tier powers such as Indonesia, Turkey and Mexico can be added, these states are called “rising powers” or “new powers” because of their rapid economic development, and expanding political and cultural influence.
Topic:
Cold War, Development, Economics, Emerging Markets, Globalization, International Trade and Finance, and Governance
Political Geography:
Africa, Russia, China, India, and Brazil

19. New Approaches to Global Health Cooperation: Perspectives from Brazil

Author:
Katherine E. Bliss, Paulo Buss, and Felix Rosenberg
Publication Date:
09-2012
Content Type:
Working Paper
Institution:
Center for Strategic and International Studies
Abstract:
On November 7, 2011, the Global Health Policy Center of the Center for Strategic and International Studies (CSIS) in Washington, D.C., in partnership with the Fiocruz Center for Global Health (CRIS) in Rio de Janeiro, Brazil, hosted a seminar entitled “New Approaches to Global Health Cooperation.” The event, which took place in Rio de Janeiro, assembled health policy researchers and practitioners from Brazil, Europe, the United States, and sub - Saharan Africa to examine emerging practices in global health co operation. Issues considered included the factors driving greater international engagement on public health challenges, the growing trend of trilateral cooperation, and the role of the BRICS (Brazil, Russia, India, China, and South Africa) and South - South activities in expanding international cooperation on global health. Over the course of the day - long meeting, speakers and audience members examined the reasons for the overall expansion of funding and programming for overseas global health activities durin g the past decade; considered the factors that underpin Brazil's increasing focus on global health as an area of bilateral and multilateral outreach; reviewed the characteristics of successful trilateral cooperation efforts; and debated the future of multi country engagement on health.
Topic:
Development, Emerging Markets, Health, and Health Care Policy
Political Geography:
Africa, Russia, United States, China, Europe, Washington, India, South Africa, Brazil, and Latin America

20. Freeing the Global Market: How to Boost the Economy by Curbing Regulatory Distortions

Author:
Shanker A. Singham
Publication Date:
10-2012
Content Type:
Working Paper
Institution:
Council on Foreign Relations
Abstract:
The U.S. economy faces major challenges competing internationally. One of the most worrisome is the growing use in China and other advanced developing countries of anticompetitive market distortions (ACMDs)—including regulatory protection that privileges specific companies—which put foreign competitors at a disadvantage. ACMDs are government actions that give certain business interests artificial competitive advantages over their rivals, be they foreign or domestic, to the detriment of consumer welfare. These market distortions are especially damaging to the industries in which the United States enjoys the greatest comparative advantages, but they are also harmful to the long-term prosperity of developing economies and cost the global economy trillions of dollars. To combat ACMDs, the conventional trade policy approach of focusing on the The U.S. economy faces major challenges competing internationally. One of the most worrisome is the growing use in China and other advanced developing countries of anticompetitive market distortions (ACMDs)—including regulatory protection that privileges specific companies—which put foreign competitors at a disadvantage.1 ACMDs are government actions that give certain business interests artificial competitive advantages over their rivals, be they foreign or domestic, to the detriment of consumer welfare. These market distortions are especially damaging to the industries in which the United States enjoys the greatest comparative advantages, but they are also harmful to the long-term prosperity of developing economies and cost the global economy trillions of dollars.
Topic:
Economics, Emerging Markets, Globalization, International Trade and Finance, and Markets
Political Geography:
Russia, United States, China, India, and Brazil