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11. Hope Floats

Author:
John H. Makin
Publication Date:
04-2010
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
January ended on a note of diminished hope for a sustainable global recovery as stock markets retreated from their midmonth highs. Since mid-February, however, higher hopes for a sustainable global recovery have returned. Equity markets have rallied along with markets for corporate and global sovereign bonds. Some mitigation of perceived risks facing global investors has provided a chance for hope to “float up,” and it has done so. Tension over the cohesion of the European Monetary Union and, in particular, concerns over a possible sovereign-debt default by Greece have eased, and investors continue to hope that the debt problems in Greece will not spread to the rest of Europe.
Topic:
Economics, International Political Economy, International Trade and Finance, Markets, and Financial Crisis
Political Geography:
Europe and Greece

12. The Year Ahead

Author:
John H. Makin
Publication Date:
01-2010
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
We can expect 2010 to be a volatile year. This likelihood is underscored by looking back at 2008 and 2009. Two thousand eight was a highly volatile year leading up to the collapse of Lehman Brothers in September, which was followed by the risk of a total systemic meltdown. That sharp and obvious risk spike prompted massive policy responses that were simply the largest that central banks, with rate cuts and liquidity provision, and governments, with tax cuts and spending increases, could manage. The result—beginning in March 2009—was a linear rise in the prices of risky assets, the result of massive relief once the slip into a global depression had been averted and the acute phase of the crisis in the financial sector had passed.
Topic:
Economics, International Trade and Finance, Markets, and Financial Crisis
Political Geography:
United States, Japan, China, and Europe

13. China: Bogus Boom?

Author:
John H. Makin
Publication Date:
08-2009
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
China's economic statistics have become the envy of the world. On July 15, China reported a 7.9 percent growth rate for the second quarter of 2009 compared to the same period a year earlier. Meanwhile, China's stock markets are on fire, and its property markets are heating up fast as well. Shanghai's two stock markets are up 75 percent and 95 percent respectively so far this year. The more widely traded Hong Kong Index is up 27 percent, a stellar performance compared to largely flat stock markets in the United States, Europe, and Japan. In even stronger contrast, Russia, which is one of China's emerging-market peers, has seen its economy drop by 10.1 percent during the first half of this year, while its stock market has struggled as well.
Topic:
Economics, Emerging Markets, and International Political Economy
Political Geography:
Russia, United States, Japan, China, Europe, and Hong Kong

14. Putin-3

Author:
Leon Aron
Publication Date:
01-2008
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
In the past nine years, Russian foreign policy has been examined several times in these pages. At no other time, however, has its direction been as troubling as it is today. To understand the causes of this disturbing evolution and to gauge its future course, the changes have to be examined in the context of the regime's ideological and political transformation since 2000, when Vladimir Putin was elected president.
Topic:
Conflict Prevention, International Relations, Security, and Foreign Policy
Political Geography:
Russia, Europe, and Asia

15. Putinism

Author:
Leon Aron
Publication Date:
05-2008
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
Throughout Russia's history, the weakness of institutions and laws has ensured that the successor regimes rarely, if ever, turn out as intended by the previous ruler. Instead of continuity, the national tradition of highly personalized government often produces a very different political organism ostensibly from the same institutional framework. Yet with former president Vladimir Putin's staying on as a kind of regent–prime minister to the dauphin-president Dmitri Medvedev, at least for the next few years, the ideology, priorities, and policies of the Putin Kremlin—what might be called Putinism—are almost certain to inform and guide the Medvedev administration. Part I of this Outlook discusses the components of the new Russian authoritarianism, and parts II and III examine the elements of “Russia, Inc.”—the corporatist state that Putin has built—and the factors that may affect Russia's economic performance, stability, and foreign policy in the future.
Topic:
Foreign Policy and International Political Economy
Political Geography:
Russia, Europe, and Asia

16. The GOP's Time for Choosing

Author:
Henry Olsen
Publication Date:
01-2008
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
Republican presidential candidate Mike Huckabee's pro-faith, pro-government message is similar to the platforms of conservative political parties on the European continent. But is the Christian Democratic party model one that the GOP should consider emulating?
Topic:
Politics
Political Geography:
United States and Europe

17. Turkey's Turning Point: Could There Be an Islamic Revolution in Turkey?

Author:
Michael Rubin
Publication Date:
04-2008
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
The name Fethullah Gülen is virtually unknown in the United States. Self-exiled here for more than a decade, this prominent Turkish theological and political thinker is the leader of a movement estimated conservatively to have more than a million followers in Turkey. The movement controls a business empire of charities, real estate, companies, and schools. Thousands of Gülen's followers populate Turkey's bureaucracies. AEI's Michael Rubin believes that, just as many people remained clueless or belittled concerns about Ayatollah Ruhollah Khomeini's intentions in Iran thirty years ago, many may be making the same mistake today about Gülen, who professes to want to weld Islam with tolerance and a pro-European outlook. Rubin introduces us to a man who could play a prominent role in Turkey's future at a time when Turkey's "secular order and constitutionalism have never been so shaky."
Topic:
Foreign Policy and Democratization
Political Geography:
United States, Europe, Turkey, and Middle East

18. Was Liberty Really Bad for Russia? Part I

Author:
Leon Aron
Publication Date:
08-2007
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
It is very much in the Russian and, even more so, Soviet political tradition for rulers to deprecate their predecessors. As they climb up the power ladder, the would-be Kremlin occupants must profess complete loyalty to the current leader in order to succeed. Once in power, the country's new masters bolster their authority by dissociating themselves from previous leaders. Along with the weakness of the country's political institutions, which undermines the legitimacy of the transitions, such repudiations almost inevitably result in the personalization of power, as the new occupants mold the political, social, and economic systems to their liking. Hence, Russian and—again and especially—Soviet history have often looked like a succession of very distinct personal political regimes—indeed, sometimes different states under the same name.
Topic:
Civil Society, Cold War, Democratization, and Politics
Political Geography:
Russia, Europe, Asia, and Soviet Union

19. The Vagaries of the Presidential Succession

Author:
Leon Aron
Publication Date:
05-2007
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
Russian president Vladimir Putin's term expires in March 2008. Despite the propaganda barrage designed to persuade everyone of an orderly change of government, the coming Russian presidential succession is far from a done deal. The stability and legitimacy that flow from democratic arrangements are compromised when these arrangements are weakened, as happened under Putin, ushering in uncertainty and risk.
Topic:
Corruption and Politics
Political Geography:
Russia, Europe, Eastern Europe, and Asia

20. Glasnost at Twenty

Author:
Leon Aron
Publication Date:
01-2007
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
The twentieth anniversary of the beginning of the Russian revolution (1987–91) is a fitting occasion to assess the true scale and the impact of the national spiritual liberation known as glasnost, and to put it into a broader context of the history of ideas and their role in revolutions. Such an examination is doubly useful today, when a steady stream of Kremlin-sponsored propaganda seeks to distort and minimize what glasnost has wrought.
Topic:
Development, Government, and Nationalism
Political Geography:
Russia, Europe, and Asia