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421. Austerity ahead: How will a conservative victory change Spanish politics?

Author:
Teemu Sinkkonen
Publication Date:
11-2011
Content Type:
Policy Brief
Institution:
Finnish Institute of International Affairs
Abstract:
The electoral defeat suffered by the ruling Socialist Party (Partido Socialista Obrero Español, PSOE) in the municipal elections and the prolonged financial crisis has forced Prime Minister Zapatero to call an early general election on 20 November. The Conservative People's Party (Partido Popular, PP) is ahead in the polls by a clear margin and is likely to gain an absolute majority in the parliament. The economic outlook for Spain looks bleak, which means that the new government will have to create new jobs quickly and push through harsh and unpopular reforms, particularly regarding the fiscal and administrative structures. The Indignados protest movement is gaining support, and looks set to challenge the legitimacy of the system and force the future government to produce speedy results. Spain is expected to enhance its role in international politics through pragmatic bilateral relations. In particular, relations with the US seem to be warming up, while Spain can turn to the UK and Poland in the EU for companionship
Topic:
Debt, Democratization, Economics, and Financial Crisis
Political Geography:
United States, United Kingdom, Europe, and Spain

422. The Future of Convergence

Author:
Dani Rodrik
Publication Date:
10-2011
Content Type:
Working Paper
Institution:
Weatherhead Center for International Affairs, Harvard University
Abstract:
Novelists have a better track record than economists at foretelling the future. Consider then Gary Shteyngart's timely comic novel “Super Sad True Love Story” (Random House, 2010), which provides a rather graphic vision of what lies in store for the world economy. The novel takes place in the near future and is set against the backdrop of a United States that lies in economic and political ruin. The country's bankrupt economy is ruled with a firm hand by the IMF from its new Parthenon-shaped headquarters in Singapore. China and sovereign wealth funds have parceled America's most desirable real estate among themselves. Poor people are designated as LNWI (“low net worth individual s”) and are being pushed into ghettoes. Even skilled Americans are desperate to acquire residency status in foreign lands. (A degree in econometrics helps a lot, as it turns out). Ivy League colleges have adopted the names of their Asian partners and yuan-backed dollars are the only safe currency.
Topic:
Debt, Economics, Emerging Markets, Sovereign Wealth Funds, and Financial Crisis
Political Geography:
United States, China, America, and Singapore

423. Rebuilding the American Food System—One Heirloom Tomato at a Time

Author:
Frederick Kirschenmann
Publication Date:
03-2011
Content Type:
Working Paper
Institution:
The Wilson Center
Abstract:
The food system of the United States is currently witnessing a remarkable shift. Small farms and artisanal producers are on the rise, working with restaurants, institutional food services, and retail outlets to make locally-sourced, sustainably-grown food more widely available. Health- and environment-conscious consumers— “the locavores” —are placing new demands on the food system in ways that are affecting the nation's economy as well as its eating habits (see the “infographic” opposite). On March 4, 2011, United States Studies at the Wilson Center, with the support of the Chesapeake Bay Trust, convened practitioners, scholars, farmers, producers, and food activists to discuss both the scope of this phenomenon and the challenges faced by those seeking to transform the way Americans eat.
Topic:
Agriculture, Economics, Markets, and Food
Political Geography:
United States

424. It's Not Your Grandfather's Hemisphere

Author:
Arturo Valenzuela
Publication Date:
06-2011
Content Type:
Journal Article
Journal:
Americas Quarterly
Institution:
Council of the Americas
Abstract:
The U.S. moves beyond traditional diplomacy.
Topic:
Diplomacy and Economics
Political Geography:
United States

425. Covering Sports in Latin America

Author:
Lisa Delpy Neirotti and Jeffrey Bliss
Publication Date:
06-2011
Content Type:
Journal Article
Journal:
Americas Quarterly
Institution:
Council of the Americas
Abstract:
No abstract is available.
Topic:
Economics and Government
Political Geography:
United States, Europe, and Latin America

426. Continental Shift: New Trends in Private U.S. Funding for Media Development

Author:
Anne Nelson
Publication Date:
12-2011
Content Type:
Working Paper
Institution:
National Endowment for Democracy
Abstract:
The field of private sector funding of independent media abroad has continued to undergo a massive upheaval over the past two years. Two major factors have driven the change. The first is economic: The 2008 recession sharply reduced the portfolios of most traditional foundations and media philanthropies, many of them by 20-30 percent. They were still recovering when the aftershock of 2011 struck. These institutions, many of them based on the East Coast, had formerly led the way in funding international media development activities, with an emphasis on journalism training and support for freedom of expression. Now they are in a period of retrenchment, struggling to maintain existing commitments and with few resources to pursue new initiatives.
Topic:
Development, Economics, Communications, Mass Media, Foreign Aid, and Financial Crisis
Political Geography:
United States

427. What Can and Cannot Be Done about Rating Agencies

Author:
Nicolas Véron
Publication Date:
11-2011
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
Credit Rating Agencies (CRAs) are prominent participants in the assessment of credit risk by financial markets. They determine and publish credit ratings, which represent the CRA's opinions on issuers' relative probability of default. The market for credit ratings is currently dominated in most western countries by three players: n Standard Poor's (S) is a division of the McGraw- Hill Companies, a US-based media group whose ownership is dispersed (the largest shareholder is Capital Group, with 12 percent of shares); n Moody's Corporation is an autonomous US-based listed company with dispersed ownership (the largest shareholder is Berkshire Hathaway, with 12.5 percent of shares); n Fitch Ratings is a division of the Fitch Group which is jointly owned by Fimalac, a Paris-based listed investment vehicle (60 percent of shares), and the US-based Hearst Corporation (40 percent of shares).
Topic:
Debt, Economics, Globalization, International Trade and Finance, and Markets
Political Geography:
United States

428. The United States Should Establish Permanent Normal Trade Relations with Russia

Author:
Gary Clyde Hufbauer and Anders Åslund
Publication Date:
11-2011
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
After 18 years, Russia is finally on the verge of acceding to the World Trade Organization (WTO). No country has struggled for so long to become a member of this important organization. The last impediment was removed on November 9, when Russia and Georgia concluded an agreement on monitoring trade flows across their disputed border. The WTO Working Party, which oversaw the negotiations, then approved Russian accession on November 10, clearing the way for formal membership to be adopted at the WTO ministerial conference to be held December 15–17, 2011 (WTO 2011).
Topic:
Conflict Resolution, Economics, International Trade and Finance, Markets, and Bilateral Relations
Political Geography:
Russia, United States, and Georgia

429. The Current Currency Situation

Author:
William R. Cline and John Williamson
Publication Date:
11-2011
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
The currency markets have been extremely disturbed for the last three months. The period witnessed a major strengthening of the US dollar in September, then the European currency crisis, a recovery of the euro when the markets believed that the crisis was being controlled, and then a rebound of the dollar. In view of these developments, those who follow currency movements need a new guide as to how the current values of currencies compare to our estimates of fundamental equilibrium exchange rates (FEERs). That is the main object of this paper.
Topic:
Economics, Globalization, International Political Economy, and Monetary Policy
Political Geography:
United States and Europe

430. The Broken Contract: Inequality and American Decline

Author:
George Packer
Publication Date:
11-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
Like an odorless gas, economic inequality pervades every corner of the United States and saps the strength of its democracy. Over the past three decades, Washington has consistently favored the rich -- and the more wealth accumulates in a few hands at the top, the more influence and favor the rich acquire, making it easier for them and their political allies to cast off restraint without paying a social price.
Topic:
Economics and Education
Political Geography:
United States, Iraq, Washington, and Baghdad