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181. New risks to global financial stability

Author:
Hung Tran
Publication Date:
10-2019
Content Type:
Policy Brief
Institution:
Atlantic Council
Abstract:
The post-2008 financial regulatory reform has strengthened the banking system, bringing the bank-generated liquidity expansion under control. However, central-bank liquidity has been growing significantly for more than a decade, and financial mediation has moved from banks to non-bank financial institutions, and from lending to capital-market transactions. This new system has created new financial imbalances and distortions and pose new areas of vulnerability that require appropriate policy responses. In “New Risks to Global Financial Stability” author Hung Tran, a nonresident senior fellow at the Atlantic Council’s Global Business & Economics program, assesses the global financial system weaknesses and outlines steps to promote financial stability. Tran updates a framework, first developed by the Committee on the Global Financial System, to recommend policy responses along three lines of defense: prevention of excess liquidity; strengthening domestic policy measures; and cooperative provision of central-bank liquidity.
Topic:
Regulation, Finance, Economy, Business, and Macroeconomics
Political Geography:
Canada, North America, and United States of America

182. Prospects of the Russian protest movement

Author:
Ksenia Kirillova
Publication Date:
10-2019
Content Type:
Policy Brief
Institution:
Atlantic Council
Abstract:
Moscow's summer of protest reveals growing societal divisions & frustration with the Kremlin and its policies. Russians are increasingly willing to take to the streets to show their displeasure with their political & economic situation. Non-systemic opposition are gaining political ground but face significant challenges if they are to achieve major future political victories.
Topic:
Politics, Economy, Protests, and Political Movements
Political Geography:
Russia and Eurasia

183. Indo-Pacific immune systems to enable healthy engagement with the Chinese state and China's economy

Author:
Michael Shoebridge
Publication Date:
11-2019
Content Type:
Special Report
Institution:
Australian Strategic Policy Institute
Abstract:
This paper sets out three challenges to the creation of a future for Indo-Pacific states and peoples consistent with the visions of a ‘free and open Indo-Pacific’ (FOIP) expressed by Japan, India, the US and Australia, and now by the ASEAN outlook on the Indo-Pacific. It also describes a path for states to operate in an environment of coercive Chinese state power that seeks to influence how states relate and how they operate within their domestic boundaries.
Topic:
International Relations, National Security, and Economy
Political Geography:
China, Asia, and Indo-Pacific

184. Defence projects and the economy

Author:
Rob Bourke
Publication Date:
08-2019
Content Type:
Special Report
Institution:
Australian Strategic Policy Institute
Abstract:
This report examines what the national economy stands to gain from nearly $100 billion of planned investment in new defence capital equipment including submarines, frigates and military vehicles. The report emphasises that although the general public has been informed about some of the economic benefits of those projects, it has limited access to reliable information on most of their economic costs. Nor has the public been fully informed of how much of what goes into the projects will be produced in Australia. The picture emerging from information available publicly contrasts with the image of vessel and vehicle projects as a major source of ‘jobs and growth’. At best, the projects appear to have a small positive impact on economic activity. That’s due to the substantial economic costs involved. Author Rob Bourke said that ‘for such large projects whose economic benefits have been portrayed as being far above their economic costs, it’s surprising how little supporting evidence has been made available to Australian taxpayers. With the economic upside of projects touted widely but the economic downside largely hidden from public view, it’s difficult to assess the merits of investments of national significance. Government messaging suggests that projects add much more to the economy than they take away. The evidence available publicly paints a different picture: Australia potentially paying a lot to protect a little. Vessel and vehicle acquisitions might now be difficult to alter. Nonetheless, the lessons in transparency that they provide are important to consider for future investments by Defence, especially with calls for its budget to move well above the current target of 2% of GDP.’
Topic:
Defense Policy, National Security, Economy, and Investment
Political Geography:
Australia and Australia/Pacific

185. Jokowi’s second term: economic challenges and outlook

Author:
Siwage Dharma Negara
Publication Date:
07-2019
Content Type:
Special Report
Institution:
Australian Strategic Policy Institute
Abstract:
After winning the 2019 election, President Joko ‘Jokowi’ Widodo’s has a great opportunity to bring the Indonesian economy into a stronger footing. Jokowi’s economic policies achieved mixed outcomes in his first term (2014–2019). He hasn’t delivered a promised 7% economic growth, but steady 5% growth is perceived as a commendable achievement, given slowing global growth, rising uncertainties, and low commodity prices. Macroeconomic stability has been well maintained, and Indonesia’s creditworthiness has improved during this first term.
Topic:
Politics, Economy, Economic growth, and Macroeconomics
Political Geography:
Indonesia, Asia, and Southeast Asia

186. Breaking the Cycle: Iraq following the military defeat of Islamic State

Author:
Maria-Louise Clausen
Publication Date:
03-2019
Content Type:
Special Report
Institution:
Danish Institute for International Studies
Abstract:
Despite the Iraqi Security Forces’ success in the military defeat of Islamic State (IS) and reconquering of territory seized by IS in 2014, the Iraqi state faces substantial challenges. These challenges have been exacerbated by IS, but did not emerge with IS and will therefore also not disappear with the defeat of IS. This DIIS Report underlines the fragmentation and policization of the security sector as a concern. Although the continued threat from IS has a destabilizing impact on the Iraqi state, the report especially points to the role of the Popular Mobilization Forces (PMF: an umbrella term for more than 50 armed groups that mobilized against IS in 2014), the sustained focus on identity politics and the pressure on the Iraqi state as key issues for the rebuilding and stabilization of Iraq. The presence of PMFs in Iraq is a challenge to the Iraqi state’s monopoly of violence and the PMFs continue to commit violations with impunity. Moreover, the PMFs (Popular Mobilization Forces) are capitalizing on their role in the defeat of Islamic State to increase their political role. Finally, despite the recent movement towards issue-based politics, identity remains a vital element in Iraqi politics, as seen in the continued practice of power-sharing between Kurds, Shias, and Sunnis. This combined with the Iraqi population’s general lack of trust in the political system challenges reconstruction. Nonetheless, the report asserts that there is a window of opportunity for Iraq, that should be seized by the Iraqi elite and the international community to engage in the difficult process of reconstruction and reconciliation. The report provides a brief overview of some of the main challenges facing Iraq that must be dealt with if Iraq is to break the cycle of violence that has haunted the country for decades.
Topic:
Security, Defense Policy, Democratization, Poverty, Terrorism, Non State Actors, Inequality, Fragile States, Economy, Conflict, Violence, Peace, and Justice
Political Geography:
Iraq and Middle East

187. Latin America's Evolving Migration Crisis: Venezuelans flee accelerating collapse

Author:
Ninna Nyberg Sørensen and Cesar Castilla
Publication Date:
03-2019
Content Type:
Policy Brief
Institution:
Danish Institute for International Studies
Abstract:
Venezuela is facing a deep economic, political, and social crisis, with acute shortages of food, medicine and other basic goods. Over 3.4 million Venezuelans, a tenth of the population, have left the country, presenting Latin America with an unprecedented migration crisis. However, diaspora engagement in humanitarian efforts could also be part of the solution to the crisis. RECOMMENDATIONS ■ The exodus illustrates increasing difficulty distinguishing between voluntary and forced migration. To overcome barriers in accessing protection and social services, migrants and refugees must be granted legal status in receiving countries. ■ The migration crisis is politicized by many actors. Supply routes for vital humanitarian assistance are needed, but historical experiences should warn against the use of military force or other forms of intervention. ■ UN efforts to complement humanitarian help with development assistance to poorer reception areas should be supported. Ways to connect the Venezuelan diaspora to ongoing humanitarian and future development efforts directed at Venezuela should also be pursued.
Topic:
Migration, United Nations, Economy, and Humanitarian Crisis
Political Geography:
South America, Latin America, and Venezuela

188. Gulf State Rivalries in the Horn of Africa: Time for a Red Sea Policy?

Author:
Jessica Larsen and Finn Stepputat
Publication Date:
05-2019
Content Type:
Policy Brief
Institution:
Danish Institute for International Studies
Abstract:
States in the Arabian Gulf are cultivating long-term economic and political partnerships with authorities in the Horn of Africa. Both regions are unstable, and their union has significant security implications. Danish and EU partners’ policies should reflect this. RECOMMENDATIONS ■ Economic integration: encourage the potential of current Gulf-led infrastructural developments by helping enhance regional trade among states in the Horn of Africa. ■ Red Sea Forum: promote interregional political dialogue by supporting the development of a diplomatic track between states in the Gulf and the Horn of Africa respectively. ■ Policy development: create a joint Red Sea sub-focus integrating existing policy commitments in each region.
Topic:
Development, International Organization, Treaties and Agreements, and Economy
Political Geography:
Africa, Gulf Nations, Horn of Africa, and Red Sea

189. Can China Buy Peace? Money and Security in the South China Sea

Author:
Yang Jiang
Publication Date:
10-2019
Content Type:
Policy Brief
Institution:
Danish Institute for International Studies
Abstract:
Despite China’s strong economic influence over Southeast Asian countries, tensions in the South China Sea have been flaring up again this year, as domestic oppositions and external interventions create dilemma for Southeast Asian governments. RECOMMENDATIONS ■ When considering joining the freedom of navigation operations in the SCS Denmark should consider that foreign interference will likely escalate Chinese military activities. ■ Denmark’s delicate relationship with the US and China must be carefully evaluated and managed. ■As a major maritime nation it is important for Denmark to secure a free sea through diplomacy and UN institutions. ■European countries have much room to enhance their contribution to regional development in Southeast Asia.
Topic:
Security, Foreign Policy, Defense Policy, Diplomacy, International Organization, History, Power Politics, Economy, and Conflict
Political Geography:
China and Asia

190. Cautionary Anticipation: How did Iran deal with the newly imposed American Sanctions?

Author:
FARAS
Publication Date:
09-2019
Content Type:
Commentary and Analysis
Institution:
Future for Advanced Research and Studies (FARAS)
Abstract:
Iran is still anticipating the various alternatives that the United States may utilize to address the Iranian escalatory behavior, during the coming period. Such actions may not be limited to the new sanctions imposed on September 20, 2019 that included the Central Bank of Iran, National Development Fund and Etemad Tejarat Pars. Arguably, the procedural steps planned by the Donald Trump's administration will substantially determine the possible alternatives for the Iranian reciprocal behavior/ which Iran may rely on.
Topic:
Oil, Sanctions, and Economy
Political Geography:
Iran, Middle East, North America, and United States of America