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1. 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

2. Monetary Policy and Banking Supervision: Coordination instead of separation

Author:
Daniel Gros and Thorsten Beck
Publication Date:
12-2012
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
The June 2012 European Council decided that the legal basis for the 'Single Supervisory Mechanism' should be Article 127(6) of the Treaty, and that the SSM should 'involve' the ECB. This implies only that supervision should be concentrated within the ECB. In the policy discussion it is, however, generally taken for granted that there should be 'Chinese walls' between the supervisory and monetary policy arms of the ECB. The current legislative proposal is explicit on this account.
Topic:
Economics, International Trade and Finance, Monetary Policy, and Governance
Political Geography:
China and Europe

3. The Key Role of Education in the Europe 2020 Strategy

Author:
Felix Roth and Anna-Elisabeth Thum
Publication Date:
10-2010
Content Type:
Working Paper
Institution:
Centre for European Policy Studies
Abstract:
The EU 2020 Agenda has taken an important step forward by setting the target for tertiary graduation rates at an ambitious 40%. This paper finds that many European countries, however, including the largest economy – Germany – will not be able to meet this target. Moreover, the crucial topic of educational quality is not even touched upon. Comparing the EU with China in total numbers, the authors find that China's education system already produces the same number of graduates with tertiary education as the whole EU15. Given the large output of graduates, which is the key to productive spending on R, this means that China is likely to soon become a growing power in innovation. Initially the country is expected to concentrate on incremental innovation, with radical innovation to come only later and it is here, the authors warn, that the quality of the university system might represent a major obstacle in the Chinese government's efforts to close the gap with the US and the EU15 in terms of innovation potential.
Topic:
Education
Political Geography:
China, Europe, and Germany

4. Unearthing China's Rare Earths Strategy

Author:
Roderick Kefferputz
Publication Date:
11-2010
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
Relations between China and the West have been difficult at best in recent months. Frustrations on both sides have increased palpably. Besides long-standing disagreements over Beijing's policy on the renminbi, the stalled climate change negotiations and human rights, new challenges have also (re)emerged. These include, amongst others, rising concerns over China's role in the South China Sea and the conflict over the Japanese-controlled Senkaku or Diaoyu Islands in the East China Sea. Recently, however, one issue in particular has made the headlines: rare earths.
Topic:
Environment, Industrial Policy, and Science and Technology
Political Geography:
China and Europe

5. Optimisation of Central Asian and Eurasian Trans-Continental Land Transport Corridors

Author:
Michael Emerson and Evgeny Vinokurov
Publication Date:
12-2009
Content Type:
Working Paper
Institution:
Centre for European Policy Studies
Abstract:
There is at present an overlapping but inadequately coordinated combination of strategic trans-continental transport corridors or axes stretching across the Eurasian landmass, centred on or around Central Asia. There are three such initiatives - from the EU, China and the Asian Development Bank, and the Eurasian Economic Community. This paper reviews these several strategic transport maps, and makes proposals for their coordination and rationalisation. So far the EU Central Asia strategy has not paid much attention to these questions. However the EU's own initiatives (the Pan-European Axes and the TRACECA programme) are in need of updating and revision to take into account major investments being made by other parties. In particular the case is made for a 'Central Eurasian Corridor' for rail and road that would reach from Central Europe across Ukraine and Southern Russia into West Kazakhstan, and thence to the East Kazakh border with China, thus joining up with and completing the West China-West Europe corridor promoted by the Asian Development Bank. There should also be a North-South corridor that would cross over this Central Eurasian Corridor in West Kazakhstan and lead south to the Middle East and South Asia. These adaptations of existing plans could become an exemplary case of cooperation between Central Asia and all the major economic powers of the Eurasian landmass.
Topic:
International Trade and Finance and Infrastructure
Political Geography:
Russia, China, Europe, Central Asia, Ukraine, and Kazakhstan

6. The EU Strategy for Central Asia says 'security'. Does this include Security Sector Reform?

Author:
Jos Boonstra
Publication Date:
11-2009
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
Central Asia faces a broad range of security challenges. Due to the region's position at the crossroads between Russia, China, Afghanistan, Pakistan, Iran and the Caspian Sea it is confronted with a range of trans-national issues such as drug trafficking, human trafficking, organised crime and terrorism. Central Asia also encounters specific regional threats including scarcity of water resources for generating power and irrigation purposes, which is currently causing tension. On a national level the five Central Asian republics face the threat of instability due to bad governance and the harsh impact of the economic crisis.
Topic:
Security
Political Geography:
Pakistan, Afghanistan, Russia, China, Europe, Iran, and Central Asia

7. Central Asia's growing partnership with China

Author:
Sébastien Peyrouse
Publication Date:
10-2009
Content Type:
Working Paper
Institution:
Centre for European Policy Studies
Abstract:
Since the start of the 2000s, the People's Republic of China (PRC) has become an increasingly important player on the Central Asian scene, which until then had been essentially divided between Russia and the US. Today, Central Asia's future lies in its ability to avoid the destabilisations of the Afghan–Pakistan zone, and through Chinese influence, to partake of the Asia–Pacific's economic prosperity. In less than two decades, Beijing has managed to make a massive and multiform entry onto the Central Asian scene: it has proven itself a loyal partner on the level of bilateral diplomacy and has succeeded in turning the Shanghai Cooperation Organisation (SCO) into a regional structure appreciated by its members. China has also become a leading actor in trade as well as in the hydrocarbon sector and infrastructure. In examining the shift that China has generated in Central Asian realities, this paper focuses on the political and geopolitical impact of Beijing's growing influence, along with the economic implications of the Chinese presence in Central Asia. To what extent will this affect the objectives of the European Union? China is one of the EU's economic competitors in domains such as energy; it obstructs cooperation between Central Asian states and Western countries, and it encourages the authoritarian tendencies of political regimes. Yet, partnership and economic competition go hand in hand, as EU texts recognise. In addition, the EU's rationale for setting up in Central Asia is not to compete with neighbouring states, but instead to seek cooperation in accordance with the idea that a multiplicity of actors will guarantee the zone's stability and its geopolitical balance. So what joint interest might China and the EU have in Central Asia? On a certain number of questions such as security and long-term development, the EU and China share the same concerns and Beijing is seeking greater collaboration with Europe.
Topic:
Diplomacy, International Cooperation, Treaties and Agreements, and Bilateral Relations
Political Geography:
China, Europe, and Central Asia

8. China and India: Implications for the EU Economy

Author:
Daniel Gros
Publication Date:
01-2008
Content Type:
Working Paper
Institution:
Centre for European Policy Studies
Abstract:
This paper provides background information on the likely challenges the rise of China and India will pose for the economy of the EU. The purpose is mainly descriptive, namely to spell out what kind of trading partner China and India will represent for the EU in the foreseeable future. A first observation is that India is several times smaller than China in economic terms. Moreover, because its investment rates in both human and physical capital are much lower than in China, its growth potential is likely to remain more limited. China's export structure has already become rather similar to that of the EU and this 'convergence' is likely to result in the rapid accumulation of human and physical capital. If current trends continue, the Chinese economy is likely to have a capital/labour ratio similar to that of the EU. In terms of human capital, China has already caught up considerably, but further progress will be slowed down by its stable demographics and the still low enrolment ratio in tertiary education. In both areas India will lag China by several decades. The rapid accumulation of capital suggests that the emergence of China will put adjustment pressures mainly on capital-intensive industries, not the traditional sectors, such as textiles. Another source of friction that is likely to emerge derives from the abundance of coal in China, resulting in a relatively carbon- and energy-intensive economy.
Topic:
International Relations, Foreign Policy, and Regional Cooperation
Political Geography:
China, Europe, and India

9. The European Union as a Normative Foreign Policy Actor

Author:
Nathalie Tocci
Publication Date:
01-2008
Content Type:
Working Paper
Institution:
Centre for European Policy Studies
Abstract:
This is the second in a series of papers from a new project entitled “Who is a normative foreign policy actor? The European Union and its Global Partners”. The first paper – entitled Profiling Normative Foreign Policy: The European Union and its Global Partners, by Nathalie Tocci, CEPS Working Document No. 279, December 2007 – set out the conceptual framework for exploring this question. The present paper constitutes one of several case studies applying this framework to the behaviour of the European Union, whereas the others to follow concern China, India, Russia and the United States. A normative foreign policy is rigorously defined as one that is normative according to the goals set, the means employed and the results obtained. Each of these studies explores eight actual case examples of foreign policy behaviour, selected in order to illustrate four alternative paradigms of foreign policy behaviour – the normative, the realpolitik, the imperialistic and the status quo. For each of these four paradigms, there are two examples of EU foreign policy, one demonstrating intended consequences and the other, unintended effects. The fact that examples can be found that fit all of these different types shows the importance of 'conditioning factors', which relate to the internal interests and capabilities of the EU as a foreign policy actor as well as the external context in which other major actors may be at work.
Topic:
International Relations, Foreign Policy, and Regional Cooperation
Political Geography:
Russia, United States, China, Europe, and India

10. The European Union's Strategic Role in Central Asia

Author:
Neil J. Melvin
Publication Date:
03-2007
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
For the first time since the collapse of communism, the EU is facing a strategic challenge in its external policies. The rise of Russia and China as international actors – with India close behind – and the growing confidence of some leading regional powers, such as Iran, are creating a serious threat to the EU's ambition to apply external policies that reflect European values. Against this background, the employment of the democracy – promotion agenda developed during the 1990s is unlikely to be effective and may even serve to weaken the position of the EU in key regions. This situation demands an urgent and far-reaching rethink of the approach the Union takes to external relations. If the EU is to remain a serious global actor, it will have to find ways to reconcile the imperative of engaging in difficult regions beyond the immediate European neighbourhood while also remaining true to the values of the Union.
Topic:
Security and Foreign Policy
Political Geography:
Russia, China, Europe, and Central Asia