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51. The Great Convergence: Toward a Global Strategy for Financial Inclusion

Author:
Timothy Ogden
Publication Date:
08-2019
Content Type:
Working Paper
Institution:
Aspen Institute
Abstract:
Tim Ogden, Managing Director of NYU-Wagner’s Financial Access Initiative and Aspen FSP Senior Fellow, contextualizes financial inclusion – once thought of as a solution only for the developing world – as one highly relevant in the US context. In July, Ogden shared an abbreviated version of his remarks at the Consultative Group to Assist the Poor’s (CGAP) private meeting on updating financial inclusion’s collective narrative to include evolving thinking and impact. You can learn more about CGAP’s work here. This piece dives deeper into Ogden’s observations about the shared challenges and areas of growth within the landscape of global inclusion. It also proposes the need for a global financial inclusion strategy. Read Ogden’s piece, The Great Convergence to learn how financial inclusion efforts around the world are growing more relevant to the structural policies developed in the US, and vice versa.
Topic:
Globalization, Finance, Socioeconomics, and Inclusion
Political Geography:
North America and United States of America

52. Shaping the Image of China as a Responsible Global Power

Author:
I. Zarodov
Publication Date:
01-2019
Content Type:
Journal Article
Journal:
International Affairs: A Russian Journal of World Politics, Diplomacy and International Relations
Institution:
East View Information Services
Abstract:
a CoUnTRy’S ImaGe in the minds of those who live inside and out- side it depends on the logic and goals of its development. In the process of construction, its elements might differ by time and resources needed to create and consolidate them. The result, likewise, may be different where the length of time needed to produce the desired effect and the effect itself are concerned. an image of a country responsible for the development of mankind and its security is time- and resource-consuming to the greatest extent while inevitable contradictions between global responsibility and national interests make it idealistic and unachievable. many countries, however, claim the status of responsible – either regional or global – pow- ers depending on their scope and development goals. This image presupposes that the power demonstrates to the world, not only to certain audiences, that it does not intend to grow and develop at the expense of others but in the long-term perspective is firmly deter- mined to create a secure world of equal opportunities. at first, the Chinese expert community was apprehensive and even fearful of the idea of China as one of the responsible world powers. The West, on its side, was actively trying this role on China and even impos- ing it. This stirred up mistrust. It was repeated, among other things, that the role of globally responsible power does not fit China’s interests; that Beijing is being drawn, contrary to its will, into funding the international system on a grand scale. It should be said that Western politicians tried to persuade China to become a more active sponsor. Later, when the “responsible power” concept had been absorbed and, what is more important, adjusted to the country’s interests, skepticism was finally overcome. Between 1999 and 2009, the definition of China as a “responsible power” found its place, with certain readjustments, in the Chinese political vocabulary. Prominent foreign policy experts Wang yizhou,1 yen Shenyi,2 yu Keping3 and hu Jian4 have written a lot about the logical connection between China’s development and the development of mankind, between protection of national interests and the need to take international interests into account.
Topic:
Globalization, International Cooperation, Hegemony, and Economic Cooperation
Political Geography:
China and Asia

53. Study Abroad Matters: Linking Higher Education to the Contemporary Workforce through International Experience

Author:
Ashley Stipek, Lindsay Calvert, Wagaye Johannes, Shana Childs, Elaina Loveland, and Catherine Morris
Publication Date:
03-2018
Content Type:
Working Paper
Institution:
Institute of International Education
Abstract:
In today’s competitive economy, it takes more than a college degree to convince employers that graduates are ready for the workforce. Study Abroad Matters: Linking Higher Education to the Contemporary Workforce through International Experience, from IIE and the AIFS Foundation, synthesizes leading-edge research to demonstrate that in this globalized era, study abroad has become one of the most powerful ways to prove to employers that graduates have in-demand skills for the contemporary workplace. This paper outlines best practices for high education institutions, industry, and graduates to better articulate the value of study abroad for the contemporary marketplace.
Topic:
Globalization, Employment, Diversity, Language, and Higher Education
Political Geography:
North America, Global Focus, and United States of America

54. The Rise of China and the Rebound in Korea’s Manufacturing Employment

Author:
Kyong Hyun Koo and Unjung Whang
Publication Date:
12-2018
Content Type:
Working Paper
Institution:
Korea Institute for International Economic Policy (KIEP)
Abstract:
Over the last three decades, the world has experienced a substantial in-crease in Chinese import penetration due to the rapid improvement in Chi-na’s supply productivity, which is often called the “China shock” or “China syndrome.” The existing literature have shown that the increase in imports from China due to the China shock adversely affected the manufacturing employment of a number of advanced countries such as the U.S., Norway, Denmark, and Spain. Unlike those advanced countries, South Korea has shown a pronounced increase in exports to China as well as imports from China since the 1990s. Over the same time, furthermore, Korea’s manufactur-ing employment has shown a stagnated downward trend compared to other advanced economies and even rebounded since the mid-2000s. Given these motivations, this study investigates both import and export channels to ex-plore how the China trade shocks affected the exceptional trend in Korea’s manufacturing employment from 1993 through 2015. To capture the overall employment effects of the China shocks, specifically, we consider not only how a Korean manufacturing industry employment is affected by the change in its direct exposure to China trade shocks (direct effects), but also how other industries’ changes in exposure to China trade shocks affect the industry through domestic industrial linkages (indirect ef-fects), largely following the empirical approach employed by Acemoglu et al. (2016). Mainly using firm-level data for almost all Korean manufacturing firms with more than four employees and the 2SLS estimation method, we find that during the period 1993-2015 the increase in Chinese import expo-sure had statistically insignificant direct effects on Korea’s manufacturing em-ployment on average, while 1% point increase in Chinese export exposure directly caused 0.18% increase in employment across Korean manufacturing industries. For the indirect effects of China shocks, in contrast, 1% point in-crease in Chinese import exposures of downstream industries (intermediate goods buyers) led to 3.00% decrease in employment of upstream industries (intermediate goods sellers) on average, while 1% point increase in Chinese export exposures of downstream industries brought 1.70% increase in em-ployment of upstream industries on average. The relatively moderate direct effects compared to the indirect ones are partly explained by two factors: First, Korea has gone through a substantial change in the structure of its trade with China since 2000s, so that within-industry supply chains between China and Korea have become more intertwined for some industries. Second, the Korean industries whose main downstream industries were substantially exposed to the Chinese imports (exports) tended to have a relatively low di-rect Chinese import (export) exposure during the period 1993-2015. Based on the 2SLS estimates above, the increased Chinese import expo-sure turns out to have decreased Korea manufacturing employment by 1,210,000 during the period 1993-2015, mainly through the indirect channel. In contrast, the increased Chinese export exposure appears to have increased Korea manufacturing employment by 1,090,000 during the same period, through the direct channel (210,000) and indirect channel (880,000). In the case of Korea’s manufacturing industry, therefore, most of the job reduction attributable to the China shocks has been also offset by job creation caused by the China shocks. Such a considerable increase in manufacturing jobs due to the rise of China, which has not been reported yet in other advanced economies, appear to have played an important role in generating the re-bounding trend in Korea’s manufacturing employment.
Topic:
Globalization, Labor Issues, Economic Policy, and Trade Shocks
Political Geography:
China, Asia, and South Korea

55. The Impact of US LNG on Russian Natural Gas Export Policy

Author:
Tatianna Mitrova and Tim Boersma
Publication Date:
12-2018
Content Type:
Working Paper
Institution:
Center on Global Energy Policy
Abstract:
The United States and Russia have long been the world’s largest natural gas producers, but they traditionally have not faced off in direct competition in that market. The United States was expected to become a net importer of natural gas, while Russia’s state-owned Gazprom took a prominent position in the European market. The boom in US shale-gas production changed that. While the United States had been trading gas regionally by pipeline for decades, the shale boom allowed for the export of US liquefied natural gas, putting the two gas giants in competition. Even before the first molecule of US LNG shipped, rising US production had diverted LNG destined for the United States into the European Union. Facing increased competition pushed Russia toward a more market-oriented strategy, with Gazprom adjusting its long-term oil-linked contracts that had previously been the backbone of Russian sales to European customers to use more hybrid formulae. This was just the beginning. After a slow start, the competition brought on by US gas is to a large extent shaping the Russian natural gas strategy in Europe and beyond. For Europe, rising gas competition from new suppliers has both economic and energy security implications. Globally, it is also raising questions about how Gazprom will compete in Asia, where demand is growing and gas suppliers are looking to place future production, as well as in other markets. Understanding how Gazprom will react to US gas is thus a critical economic and geopolitical question for LNG importers and exporters worldwide. In this paper the authors examine how Gazprom will maneuver in global markets under specific circumstances. It opens with a discussion of how the US and Russian gas sectors developed and interacted in the period before shale gas. The paper then examines how Gazprom’s gas trade has been impacted by new US production and what changes may be coming as US exports continue to increase. It finds that the advent of US LNG has already reduced Russian gas revenue, undermined its oil-linked pricing model, forced contract renegotiations and accelerated domestic gas market liberalization and LNG development. The authors argue that Russia is in a good position to defend its market share in Europe and looks at some of the strategies that could be pursued under various market scenarios, including the following: High Asian demand and low oil prices: If oil-linked gas prices were pushed below spot prices, Gazprom would not need to further adjust its pricing policy (as was the case in 2015–2017). In certain situations Gazprom might even limit supplies to drive prices up and increase its rent, becoming the price maker. Such a strategy would be utilized cautiously to avoid demand destruction and prompting new FIDs for new (US) liquefaction capacity. High Asian demand and high oil prices: In this scenario Gazprom’s position would be well served in the short to medium term by strong revenues. In the longer term, however, high prices will attract more competitors to the markets (and prompt new FIDs), so it is important for Gazprom to keep its own prices competitive and to keep the margin of the aggregators, which are supplying the European market, below their margin in Asia. There are already almost no “pure” oil-linked contracts left, and Gazprom in Europe mainly has hybrid pricing, but this scenario will require a more fundamental shift in the pricing, with the share of spot-indexed prices becoming dominant. Low Asian demand and low oil prices: Gazprom may be forced to keep prices for its long-term contracts below short-run marginal costs of US LNG. Gazprom might voluntarily move to completely spot-indexed prices, simultaneously trying not only to find new markets for its gas (both in Asia and in Europe) but also to stimulate new demand. The company would need more flexible and creative marketing, and it would seek to improve the efficiency of its operations, both internationally and domestically. Should Gazprom start to see its market share decline, Moscow could decide to liberalize the pipeline export monopoly, a decision that would make Novatek and Rosneft more powerful players. Low Asian demand and high oil prices: Russia would feel competitive pressure not only from the United States but also from all existing low-cost LNG suppliers like Qatar, which may have to switch to Europe and keep gas prices at a low level. Gazprom would have to engage in this price competition as well, flooding the market using spare capacities and driving the prices down to the level of its short-run marginal costs, which will disincentive US LNG aggregators to offtake their LNG. Gazprom has considerable underutilized upstream capacities and huge spare transportation capacities, allowing it to drive down European prices below the level acceptable for US LNG suppliers. This scenario hurts everyone on the supply side, and it is warranted to ask how long it could be upheld. The study finds that even in scenarios where Gazprom sees gas revenues driven down to 2009 or 2016 levels, this should not prove catastrophic for Russia. For Moscow, facing more competition in Europe is a new situation that Gazprom and decisions makers in the Kremlin will have to deal with. Under normal circumstances, competition between various sources of supply can result in net benefits for the end consumer. In addition, this paper demonstrates that the changes in the global gas market have forced Gazprom to adjust its business practices. However, the increased politization of natural gas in the United States carries a risk of inflamed tensions between Moscow and Washington.
Topic:
Globalization, Natural Resources, European Union, and Gas
Political Geography:
Russia, United States, and Europe

56. Seven Chinas A Policy Framework

Author:
David Kelly
Publication Date:
02-2018
Content Type:
Working Paper
Institution:
Center for Strategic and International Studies
Abstract:
The debate about China’s changing role in global affairs is often framed as a dichotomous choice between a peacefully rising China that seeks to be a constructive stakeholder and an increasingly dangerous China that is challenging the status quo, both in terms of its norms and the place of the United States. The reality is more complicated. There are not only signs of both elements, but the foundations shaping Chinese behavior is multifold. Most international relations scholars examine China through one or another version of realism or liberalism. David Kelly, head of research at China Policy, offers an alternative approach that examines the nature of Chinese identity, or rather, Chinese identities, plural, and how they exhibit themselves in Chinese foreign policy. Using his renowned skills in reading Chinese-language official documents and the broader commentary, Kelly teases out seven narratives that Chinese tell themselves and the world, and he provides a codebook for explicating shifting Chinese behavior in different arenas. Kelly concludes that some of these narratives facilitate cooperation, but most point toward deep-seated tensions between China and the West in the years ahead.

Topic:
Foreign Policy, Globalization, Imperialism, and Conflict
Political Geography:
United States, China, Asia, North America, and Asia-Pacific

57. Mapping the Syrian Diaspora: A Global Player in the Reconstruction of Syria

Author:
Bassma Kodmani and Hana Jaber
Publication Date:
12-2018
Content Type:
Research Paper
Institution:
Arab Reform Initiative (ARI)
Abstract:
Before 2011, the Syrian diaspora worldwide was estimated at 18 million people who migrated over more than a century and have mostly contributed actively to their host communities. This old diaspora has now increased with the wave of Syrian refugees who fled - and continue to flee - Syria because of the ongoing conflict. Over the past seven years, seven million Syrians - not all registered refugees – have fled the country out of a total population of 24 million before the conflict. The Arab Reform Initiative (ARI) conducted a research project between Spring 2017 and 2018 to study Syrian diaspora around the world after the 2011 uprising, map its features and explore the interactions of Syrian migrant communities with the conflict in Syria. To draw a map of these interactions, ARI commissioned a group of researchers to prepare studies on Syrian diaspora in North America, Latin America, and Europe. Regarding the Middle East, researchers conducted studies on the presence of Syrians in Jordan, Turkey, Lebanon, and Egypt as well as Gulf States, with Qatar and the UAE as case example. Furthermore, ARI prepared three papers on the experiences of other diaspora groups in the region, namely the Armenian, the Palestinian, and Lebanese, with a view to comparing them with the Syrian case and draw lessons from them. Finally, ARI shared a questionnaire with the researchers to use with Syrian personalities (academics, businesspeople, engineers, etc.) so as to explore the motives that could encourage or deter them from contributing to channel the potential of the Syrian diaspora to help in the recovery of the Syrian society in Syria and abroad. Researchers also focused on the living conditions of Syrian communities, new and old, in diaspora countries. The ensuing report draws a new globalized network of relationships characterized by the following:
Topic:
Globalization, Diaspora, Refugees, and Revolution
Political Geography:
Europe, Middle East, Latin America, Syria, and North America

58. The Palestinian Diaspora and the State-Building Process

Author:
Taher labadi
Publication Date:
12-2018
Content Type:
Research Paper
Institution:
Arab Reform Initiative (ARI)
Abstract:
Displacement, dispersal, denial of nationhood, and global power shifts define the existence of the Palestinian diaspora, hindering their ability to connect to each other and to their homeland. This paper outlines diaspora-homeland relationships that, it argues, are shaped by both settler-colonial policies and globalization. “Diasporization” also impacts power dynamics among Palestinians, reflected in the shifting centre of gravity of Palestinian politics toward the Occupied Palestinian Territories and the growing marginalization of the Palestinian diaspora – especially those residing in neighbouring Arab countries. This paper also addresses the emergence of Palestinian diaspora elites who have been involved in inward-bound dynamics within the state-building process. Of particular note are increasing attempts to mobilize Palestinian “expatriates,” intending to strengthen their involvement in both economic development and state-building processes.
Topic:
Globalization, Diaspora, Colonialism, State Building, and Economic Development
Political Geography:
Africa, Middle East, Israel, and Palestine

59. Syrian Diaspora Groups in Europe: Mapping their Engagement in Denmark, France, Germany, Sweden, Switzerland and the United Kingdom

Author:
Nora Ragab and Amer Katbeh
Publication Date:
12-2018
Content Type:
Research Paper
Institution:
Arab Reform Initiative (ARI)
Abstract:
This research was commissioned by Danish Refugee Council’s (DRC) Diaspora Programme as part of a project with the Durable Solutions Platform (DSP) joint initiative of DRC, the International Rescue Committee (IRC) and the Norwegian Refugee Council (NRC). This study seeks to explore Syrian diaspora mobilisation in six European host countries: Denmark, France, Germany, Sweden, Switzerland and the United Kingdom. The report focuses on the organisational framework, transnational links and practices of Syrian diaspora groups, by taking into account both internal dynamics and potential lines of conflict as well as the contextual factors in the country of origin and destination. The mapping and study seek to provide a basis for further engagement with the most relevant group of Syrians (associations and individuals) across Europe for consultations on future solution scenarios for Syrian refugees, as well as to enable DRC’s Diaspora Programme to develop activities specifically targeting the Syrian diaspora looking towards the reconstruction and development of Syria.
Topic:
Globalization, Diaspora, Refugee Issues, and transnationalism
Political Geography:
United Kingdom, Europe, Middle East, France, Germany, Denmark, Syria, Switzerland, and Sweden

60. Towards a More Inclusive Globalization: An Anti-Social Dumping Scheme

Author:
Dani Rodrik
Publication Date:
12-2018
Content Type:
Policy Brief
Institution:
Economics for Inclusive Prosperity (EfIP)
Abstract:
Theory and empirics both suggest that international trade has sharp distributional implications. Furthermore, redistribution caused by trade is often viewed by the general public as more harmful or disruptive than other domestic market shocks. I discuss conditions under which there may be a legitimate case for restricting trade to promote domestic social inclusion, and propose a specific policy – a social safeguards clause – targeting those circumstances.
Topic:
Economics, Globalization, International Trade and Finance, Economic Policy, Economic Theory, and Trade Liberalization
Political Geography:
Global Focus