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11. An Alternative Theoretical Framework for Economics

Author:
Meir Kohn
Publication Date:
10-2021
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
As a profession, economics is thriving. The number of economists is large and growing. The volume of their output is exploding—more articles are published each year in a growing number of journals. As a science, however, economics is not doing so well. The questions addressed by all those articles seem to be getting smaller and smaller. And there seems to be little or no progress on the big questions of economics such as economic development and growth, economic fluctuations, and the proper role of government in the economy. Most of the articles published are econometric, and the results of many are of questionable quality.
Topic:
Economics, Research, Economic Theory, and Commerce
Political Geography:
Global Focus

12. What Does China’s Update of its Anti-Monopoly Law and New Regulations for the “Platform Economy” Mean for Business?

Author:
David Hoffman
Publication Date:
05-2021
Content Type:
Working Paper
Institution:
The Conference Board
Abstract:
The recently enacted revisions to China’s Anti-Monopoly Law, and its extensive provisions for regulating China’s “platform economy” – i.e., fintech and ecommerce platforms – are consequential for foreign investors in China, bearing both upside and downside risks. On the one hand, they reinforce the trend of increasing state intervention in China’s economy and commercial markets and raise concerns about a more confined and controlled play-space for the private sector in China, a cohort which includes foreign multinational companies and financial investors.
Topic:
Governance, Law, Economy, Business, Investment, Monopoly, Private Sector, and Commerce
Political Geography:
China and Asia

13. Global Supply Chains: Compete, Don’t Retreat

Author:
Committee for Economic Development of the Conference Board
Publication Date:
07-2021
Content Type:
Policy Brief
Institution:
The Conference Board
Abstract:
For decades, global supply chains have become increasingly integral to the US economy and have been embraced by business and successive US Administrations because they increase efficiency and US competitiveness. But over the past several years, criticism has grown beyond the argument that US jobs are being exported to include concern about a more hostile and competitive global landscape.1 Then the COVID-19 pandemic struck, and lockdowns were imposed. Production in general was disrupted, shutting down suppliers and interrupting transportation channels; foreign governments closed their borders or hoarded crucial supplies for their own peoples.2 Prominently, lifesaving supplies—including personal protective equipment (PPE) and pharmaceutical production commodities, often sourced from abroad—were in short supply, putting frontline health care workers at even greater risk and complicating vaccine distribution.3 And then, as the pandemic began to ease and demand for goods increased, the enormous container ship Ever Given was grounded in the Suez Canal for six days, bringing much of goods transport around the world to a grinding halt and raising fears of even greater supply chain bottlenecks and commercial chaos.4 This truly unprecedented turn of events has exposed challenges to US reliance on global supply chains. Critics of the “offshoring” of jobs have assigned much of the economic and even the human pain of the pandemic to unwise and excessive dependence on global supply chains that include countries with “command” economies rather than free-market ones, or hostile nations that are unreliable sources of essential goods. The pandemic has also raised national security concerns about the reliability and resiliency of global supply chains, and businesses have been forced into workarounds of their own practices. Given the size of China’s economy, its extensive role in global supply chains, its growing military strength, and the growing tensions in its bilateral US relationship, China is at the nexus of these major concerns about supply chain resilience. The new administration has responded to this turmoil with a series of policy directives,5 studies on the subject,6 and legislative proposals under active consideration in Congress covering both short-term and medium-term responses, including a twenty-first century industrial strategy—which would be a major change of US policy direction. Global trade in materials, tools, components, and services deserves an immediate assessment of both security and economic needs for the long term.7 Security with prosperity must be the goal, and the nation must fully comprehend the bigger picture to achieve that outcome. This brief will put the role of global supply chains in the US and the world economy in perspective. It will offer recommendations to manage the economic and security challenges of global supply chains in the postpandemic economy to ensure that the US remains an innovative and competitive global leader.
Topic:
Economy, Trade, Strategic Competition, COVID-19, Commerce, and Supply Chains
Political Geography:
North America, Global Focus, and United States of America

14. Reconciling Tax and Trade Rules in the Digitalised Economy: Challenges for ASEAN and East Asia

Author:
Jane Kelsey
Publication Date:
08-2021
Content Type:
Research Paper
Institution:
Economic Research Institute for ASEAN and East Asia (ERIA)
Abstract:
As the digital economy expands in scale, scope, and form it poses major challenges for public revenue and tax policy and administration in Asia and other parts of the global South. When attempts led by developed countries at the OECD-led Inclusive Framework on Base Erosion and Profit Shifting (BEPS) to agree on new norms for taxing digital giants like Facebook, Google, and Amazon stalled, individual countries, including a number of developing countries in Asia, began developing their own responses, notably the adoption of digital services taxes. High-level compromises have recently been announced at the OECD, but the details are yet to come and are not expected to address the needs of developing countries to effectively tax the activities of digital giants operating from offshore. As countries seek effective and workable means to tax the digitalised economy, existing and proposed international rules on digital trade in free trade agreements, and plurilateral moves to develop electronic commerce rules in the World Trade Organization, may fetter their ability to do so. To date, very little attention has been paid in trade negotiations to the consequences of these developments for countries’ tax regimes. Nor have the adequacy, effectiveness, and workability of the tax exceptions in trade and investment agreements been properly re-assessed. Many governments are only becoming aware that trade rules may constrains their ability to regulate the (poorly understood and fast moving) digital domain after they have signed up to them. A series of investigations by the US government under Section 301 of the US Trade Act 1974 into digital services taxes, including those adopted by India and proposed by Indonesia, provides a real-world basis on which to assess how binding and enforceable digital trade rules might be used to challenge digital tax measures at the unilateral, bilateral, and multilateral levels. In highlighting these risks, the paper aims to provide a framework for the tax and trade divisions of governments in ASEAN and East Asia to reflect together on the potential for proposed digital trade rules to impact negatively on their public revenue.
Topic:
International Cooperation, International Trade and Finance, Digital Economy, Tax Systems, Commerce, and Digitalization
Political Geography:
Asia and Southeast Asia

15. The Final Stretch: Tackling Remaining HEU Challenges

Author:
Miles A. Pomper, Ferenc Dalnoki-Veress, Margarita Kalinina-Pohl, and Artem Lazarev
Publication Date:
08-2021
Content Type:
Research Paper
Institution:
James Martin Center for Nonproliferation Studies
Abstract:
Minimizing civil commerce in highly enriched uranium (HEU) has been a longstanding goal of Global Partnership countries, as HEU represents a highly attractive target for terrorists and proliferators. HEU can be used to create the simplest nuclear explosive device, a so-called gun-type weapon. To make matters worse, because HEU is only weakly radioactive, it is relatively safe to handle and hard to detect. Even HEU waste is less radioactive than one might hope from a security-oriented standpoint. HEU’s primary civilian use is in research reactors, which carry out a range of functions from education and basic scientific research to producing medical isotopes and “doping” silicon for semiconductors. The international community has made significant progress during the last decades in converting such reactors from HEU to LEU fuels.
Topic:
Diplomacy, International Cooperation, Nonproliferation, Peace, Commerce, and Uranium
Political Geography:
Global Focus

16. Will China’s E-commerce Reshape a Reopening World?

Author:
Cheng Li and Ryan McElveen
Publication Date:
06-2020
Content Type:
Journal Article
Journal:
Cairo Review of Global Affairs
Institution:
School of Global Affairs and Public Policy, American University in Cairo
Abstract:
China’s advances in digital-buying make the nation a harbinger of how a post-lockdown global economy could look.
Topic:
Globalization, International Trade and Finance, Digital Economy, COVID-19, and Commerce
Political Geography:
China and Asia

17. conomic Rents and the Contours of Conflict in the Data-driven Economy

Author:
Dan Ciuriak
Publication Date:
07-2020
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation (CIGI)
Abstract:
In the era of continuous and steadily accelerating technological change that started with the Industrial Revolution, economies and societies were repeatedly transformed in ways that can be traced to ownership of the essential and scarce factor of production of the day and command of the economic rents that flowed to that factor. The digital transformation is now ushering in a new economic era, in which the economy is again being reordered by new technologies based on a new essential capital asset — data. Data generates massive rents, fuels the rise of superstar firms and generates powerful incentives for strategic trade and investment policy. The emergence of this new economy signals a new era of conflict, on new battlegrounds and with new tools or weapons, between new coalitions within and between countries. This paper describes the contours of the conflicts that are to be expected with the digital transformation as it realigns interests; compares these expectations with actual developments; and comments on the strategies of the main protagonists and the implications for the rules-based system of international commerce.
Topic:
Science and Technology, Commerce, and Digitalization
Political Geography:
Global Focus

18. China Maritime Report No. 7: Gwadar: China's Potential Strategic Strongpoint in Pakistan

Author:
Isaac B. Kardon, Conor M. Kennedy, and Peter A. Dutton
Publication Date:
08-2020
Content Type:
Special Report
Institution:
China Maritime Studies Institute, U.S. Naval War College
Abstract:
This China Maritime Report on Gwadar is the second in a series of case studies on China’s Indian Ocean “strategic strongpoints” (战略支点). People’s Republic of China (PRC) officials, military officers, and civilian analysts use the strategic strongpoint concept to describe certain strategically valuable foreign ports with terminals and commercial zones owned and operated by Chinese firms.
Topic:
International Relations, Foreign Policy, Port, and Commerce
Political Geography:
Pakistan, China, and Asia

19. African Logistics Agents and Middlemen as Cultural Brokers in Guangzhou

Author:
Gordon Mathews
Publication Date:
12-2015
Content Type:
Journal Article
Institution:
German Institute of Global and Area Studies
Abstract:
This article begins by asking how African traders learn to adjust to the foreign world of Guangzhou, China, and suggests that African logistics agents and middlemen serve as cultural brokers for these traders. After defining “cultural broker” and discussing why these brokers are not usually Chinese, it explores this role as played by ten logistics agents/middlemen from Kenya, Nigeria, Ghana and the Democratic Republic of the Congo. As logistics agents, these people help their customers in practically adjusting to Chinese life, and as middlemen they serve to grease the wheels of commerce be- tween African customers and Chinese suppliers. This is despite their own ambivalent views of China as a place to live. They play an essen- tial role in enabling harmonious relations between Africans and Chi- nese in Guangzhou, even though they see themselves not as cultural brokers but simply as businessmen.
Topic:
Foreign Policy, Culture, Business, and Commerce
Political Geography:
Africa, China, and Asia

20. China’s Commercial Aviation Sector Looks to the Future

Author:
Mark Stokes
Publication Date:
05-2009
Content Type:
Policy Brief
Institution:
Project 2049 Institute
Abstract:
Gleaming with confidence in the wake of its success in space, China is emerging as a global commercial aviation player. Its ambitions in commercial aviation are one facet of a broader vision to develop a modern, world-class, and integrated national air and surface transportation system.
Topic:
Business, Transportation, Aviation, and Commerce
Political Geography:
China and Asia