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1051. Brazil and the United States: The Need for Strategic Engagement

Author:
Luigi R. Einaudi
Publication Date:
03-2011
Content Type:
Working Paper
Abstract:
Washington's identification of Brazil with Latin America and the Third World hampers its appreciation of Brazil's power and importance to the United States. It is true that Brazil is geographically part of Latin America, and it is also true that Brazil, a founder of the Group of 77, was, with India, among the original leaders of the “Third World.” But Brazil is Brazil—as large and every bit as unique as the United States or China. Brazil, for many years the seat of the Portuguese empire, is the world's largest Portuguese-speaking country. It never had the large settled Amerindian populations that became a repressed underclass in the Andes and Mesoamerica; Brazilians today are as diverse as their North American cousins but growing faster.
Topic:
Economics, International Trade and Finance, and Bilateral Relations
Political Geography:
United States, Brazil, and Latin America

1052. US-Korea Relations: Death of Kim Jong Il

Author:
Ellen Kim and Victor D. Cha
Publication Date:
09-2011
Content Type:
Journal Article
Journal:
Comparative Connections
Institution:
Center for Strategic and International Studies
Abstract:
South Korean President Lee Myung-bak's state visit to the US was a big event that attested to the strength of the two countries' relationship and the personal ties between Presidents Obama and Lee. The timely passage of the KORUS FTA in the US was the big deliverable for the summit. Final ratification of the FTA in both countries clears one longstanding issue and lays the foundation for greater economic integration and a stronger alliance. Meanwhile, the most shocking news for the final third of the year was the death of North Korean leader Kim Jong Il in late December. His death disrupted US-DPRK bilateral talks as North Korea observed a mourning period for its late leader. The US and South Korea spent the last two weeks of December quietly watching developments in North Korea as the reclusive country accelerated its succession process to swiftly transfer power to the anointed successor, Kim Jong Un.
Topic:
International Cooperation, International Trade and Finance, and International Affairs
Political Geography:
United States, South Korea, North Korea, and Korea

1053. Building an Impact Economy in America

Publication Date:
12-2011
Content Type:
Working Paper
Institution:
Aspen Institute
Abstract:
Today America finds a new market force emerging: companies that achieve an intimate connection between profit and purpose. And these businesses are supported by a developing system of investors and other financial actors that seek to place capital in firms that are achieving social impact. A new trail is being blazed for our country – open, far-reaching, transformative, offering an opportunity for renewal and growth. This is the Impact Economy.
Topic:
Economics, Industrial Policy, International Trade and Finance, Markets, and Monetary Policy
Political Geography:
United States and America

1054. The Future of Work: What It Means for Individuals, Businesses, Markets and Governments

Author:
David Bollier
Publication Date:
03-2011
Content Type:
Working Paper
Institution:
Aspen Institute
Abstract:
Over the course of the past generation, but especially since the World Wide Web emerged in 1994, digital technologies have been transforming the nature of work, the architectures of markets and the inner dynamics of organizations. They have also been altering the global economy and national cultures, which in turn is forcing governments to change how they build infrastructure, meet social needs and provide services.
Topic:
Economics, Education, Globalization, Government, International Trade and Finance, and Science and Technology

1055. Bay of Bengal: ITLOS' first ruling in favour of Bangladesh

Author:
Jalila Abdul Jalil
Publication Date:
05-2011
Content Type:
Policy Brief
Institution:
Maritime Institute of Malaysia
Abstract:
Wednesday, 14th March 2012, marked an important date when the International Tribunal for the Law of the Sea (ITLOS) delivered its judgment on a maritime boundary delimitation dispute between Bangladesh and Myanmar in the Bay of Bengal. The ruling, by a vote of 21 to 1, awarded Bangladesh territorial and full 200 nautical miles (nm) economic rights as well as a substantial share of the outer continental shelf beyond 200 nm. The Tribunal also awarded a full 12 nm territorial sea around St. Martin's Island to Bangladesh. The conclusion of the dispute now opens up opportunities for exploration and exploitation of petroleum and natural gas in the bay.
Topic:
Economics, International Law, International Trade and Finance, Maritime Commerce, and Territorial Disputes
Political Geography:
Bangladesh, South Asia, Island, Southeast Asia, and Myanmar

1056. China and Global Mega Trade Deals

Author:
John Whalley, Chunding Li, and Jing Wang
Publication Date:
07-2011
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
The term "mega deal" has been widely used in relation to two large prospective trade deals between the United States and Europe – the Transatlantic Trade and Investment Partnership (TTIP) — and in Asia and the Pacific — the Trans-Pacific Partnership (TPP). This paper starts by exploring a possible description of trade mega deals by making an inventory of mega deals in place, under discussion or negotiation, and deals yet to be considered under different criteria. This paper also calculates the trade volume coverage and trade barrier coverage for potential mega deals, and the results show the potential impact of mega deals on trade and growth performance is large.
Topic:
Development, Economics, and International Trade and Finance
Political Geography:
United States, Europe, and Asia

1057. Arms Trafficking: The International and Domestic Legal Framework

Author:
Oona A. Hathaway, Elizabeth Nielsen, Chelsea Purvis, Saurrabh Sanghvi, and Sara Solow
Publication Date:
11-2011
Content Type:
Working Paper
Institution:
Center for Global Legal Challenges, Yale Law School
Abstract:
The conventional arms trade,2 both legal and illegal, is vast in scope. As of 2001, there were an estimated half billion documented small arms in the world, more than one for every twelve people.3 International arms sales are a booming business, and the United States is the world’s largest exporter. In 2008, worldwide arms transfer agreements reached a value of $55.2 billion, of which 76.4% involved developing nations.4 The United States accounted for $37.8 billion, or 68.4%, of these worldwide arms transfer agreements,5 and U.S. activity falls into five categories: foreign military sales agreements between foreign governments and the Department of Defense, direct commercial sales to foreign buyers negotiated by U.S. companies, leases of military equipment by U.S. entities, excess defense materials, and emergency decreases of weapons stockpiles.6 An extensive legal regime has emerged at the international and domestic levels to regulate conventional arms trafficking. This report aims to provide an overview of that framework. It surveys existing international arms trafficking agreements and provides an analytic framework for distinguishing between them. It also surveys the domestic legal framework regarding arms trafficking. Together, these overviews provide a starting point for identifying the shortcomings of existing law, identifying gaps in the legal framework as it currently operates, and considering options to begin to address these shortcomings. This report begins in Part I by briefly outlining the scope of the problem of conventional arms trafficking. It then turns in Part II to identifying three fundamental axes on which international arms trafficking agreements differ. First, each agreement targets one or more points in a conventional arms life cycle: it targets the point of production; the point of domestic ownership and transfer; or the point of interstate transfer. Second, agreements differ in the scope of weapons they cover—they may target different classes of weapons (such as major conventional weapons, small arms and light weapons, and dual-use technologies) and different legal categories of weapons (for example, some cover both legal and illicit weapons, while others only focus on illicit weapons). Third, agreements differ in terms of their enforceability: some are legally binding while others set nonbinding goals. Part III of the report examines the ways in which the United States regulates arms trafficking through its domestic laws and international agreements. It shows that the United States places strong controls on interstate transfers of arms, but it has a more mixed record when it comes to regulating earlier stages of the arms life cycle. While U.S. law places a number of marking and recordkeeping requirements on arms producers and sellers, domestic ownership laws are lax compared to those of other countries. Part IV shows that there are three major gaps in extant arms trafficking agreements. First, the international agreements that are the most enforceable either fail to target arms trafficking at multiple points in the life cycle or fail to cover a broad scope of weapons. Second, arms trafficking agreements do not adequately regulate the illicit resale of arms in the black market after they are produced and sold for the first time legally. This is because there is no binding and enforceable agreement that requires states to track all domestic weapons transfers, from their initial sale to the final sale before their export. Finally, major arms suppliers, such as the United States, are not party to several major arms trafficking agreements. To address these shortcomings, this report offers three options available to U.S. policymakers for strengthening arms trafficking laws. First, the United States could increase multilateral engagement by ratifying the leading regional arms trafficking agreement, Inter-American Convention Against Illicit Manufacturing of and Trafficking in Firearms, Ammunitions, Explosives, and Other Related Materials (CIFTA). Doing so would likely require no changes in U.S. domestic law but would strengthen the U.S. ability to coordinate its arms control efforts with other countries while encouraging other countries to more effectively address arms trafficking. Second, the United States could increase bilateral programmatic assistance to address arms trafficking—at the very least by taking arms trafficking into account in existing assistance programs. Finally, the United States could engage more actively in leading negotiations over a robust and comprehensive arms trade treaty. Such an agreement would ideally aim to bring the international legal standards developed in CIFTA to the global stage. In leading the way toward such a comprehensive treaty, the United States could encourage universal adoption of the high standards the United States already has in place to ensure that arms are not transferred for illegitimate purposes—purposes that may directly affect U.S. security interests.
Topic:
International Trade and Finance, Arms Trade, Trafficking, Legal Theory, and Illegal Trade
Political Geography:
Global Focus

1058. Korea-U.S. Free Trade Agreement: Analysis of Public Opinion Surveys on Ratification

Author:
Wonchil Chung
Publication Date:
10-2011
Content Type:
Working Paper
Institution:
East Asia Institute (EAI)
Abstract:
There was a lot at stake for the Korean Congress in August 2011, and one of them was the Korea-U.S. Free Trade Agreement (KORUS FTA). Regarding this bill, the two main parties have been pitted against one another. The Grand National Party (GNP) asserts that the FTA bill has at least to be submitted to the Standing Committee; while the Democratic Party (DP) suggests the 10+2 renegotiation proposal (see Appendix 1) for the KORUS FTA that impose restrictions on the arrangement. If the DP's proposal is agreed upon by the National Congress, ratification becomes impossible, since the proposal will allow the negotiation of the FTA, in progress for more than four years (2006 to February 2011), to be taken back to square one. It is true that the KORUS FTA has a lot to offer when it comes to economic aspects, as the Ministry of Strategy and Finance (MOSF) pointed out in its analysis (see Appendix 2). With that in mind, the GNP risks its political position, as public opinion displays distrust and dissatisfaction over the imbalance between Korea and the United States shown during the progress of the negotiation (see Appendix 3).
Topic:
International Cooperation, International Trade and Finance, and Economic Cooperation
Political Geography:
Asia, South Korea, North America, and United States of America

1059. Estimation of De Facto Flexibility Parameter and Basket Weights in Evolving Exchange Rate Regimes

Author:
Jeffrey A. Frankel and Daniel Xie
Publication Date:
01-2010
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
A new technique for estimating countries' de facto exchange rate regimes synthesizes two approaches. One approach estimates the implicit de facto basket weights in an ordinary least squares (OLS) regression of the local currency value rate against major currency values. Here the hypothesis is a basket peg with little flexibility. The second estimates the de facto degree of exchange rate flexibility by observing how exchange market pressure is allowed to show up. Here the hypothesis is an anchor to the dollar or some other single major currency, but with a possibly substantial degree of exchange rate flexibility around that anchor. It is important to have available a technique that can cover both dimensions: inferring anchor weights and the flexibility parameter. We test the synthesis technique on a variety of fixers, floaters, and basket peggers. We find that real world data demand a statistical technique that allows parameters and regimes to shift frequently. Accordingly we estimate de facto exchange rate regimes: endogenous estimation of parameter breakpoints, following Bai and Perron (1998).
Topic:
Economics, International Trade and Finance, and Markets

1060. President Obama's International Tax Proposals Could Go Further

Author:
Reuven S. Avi-Yonah
Publication Date:
02-2010
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
The Obama Administration's 2011 budget proposals include revenues of $122 billion over ten years from “international tax reform.” This set of proposals is similar to but narrower than the ones advanced by the Administration in May 2009, which would have raised $210 billion.
Topic:
Economics, International Trade and Finance, and Financial Crisis
Political Geography:
United States