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1. China Is Finally Making Progress on the China-Kyrgyzstan-Uzbekistan Railway

Author:
Niva Yau
Publication Date:
03-2023
Content Type:
Commentary and Analysis
Institution:
Foreign Policy Research Institute
Abstract:
Since the 1990s, China has tried to build the China-Kyrgyzstan-Uzbekistan (CKU) railway. The railway would advance China’s geopolitical and economic interests in Central Asia. Until recently, China has been unable to overcome opposition to the project in Kyrgyzstan and Uzbekistan. However, local concerns about the railway may be giving way since Russia’s war in Ukraine has made new trade routes bypassing Russia more profitable, and a new Uzbek government is looking to expand regional and international engagement.
Topic:
Economics, Infrastructure, Geopolitics, and Russia-Ukraine War
Political Geography:
China, Central Asia, Asia, Kyrgyzstan, and Uzbekistan

2. The Soviet Union as a Development Actor in West Africa: An Interview with Alessandro Iandolo on Arrested Development

Author:
Alessandro Iandolo and Mirek Tobiáš Hošman
Publication Date:
04-2023
Content Type:
Commentary and Analysis
Institution:
The Toynbee Prize Foundation
Abstract:
The recently published work Arrested Development: The Soviet Union in Ghana, Guinea, and Mali, 1955–1968 (Cornell University Press, 2022) explores the Soviet Union’s economic partnership with three newly-independent countries in West Africa during the Nikita Khrushchev era. The Toynbee Prize Foundation interviewed the author, Alessandro Iandolo, on the story and the main arguments of his book. Alongside discussing the emergence of the Soviet Union as an international development actor and the challenges it encountered in post-colonial Africa, Iandolo explained the characteristics of the Soviet development model, its similarities and differences to the Western alternatives, and why the Soviet development assistance in Ghana, Guinea, and Mali was not primarily oriented around spreading the communist ideology. Alessandro Iandolo is a historian of the Soviet Union and the world. His research interests cover the USSR’s economic, intellectual, and political interactions with external ideas, states, and people. His current project investigates intellectual exchanges between Soviet and Latin American economists on theorizing “backwardness” and “dependency.” He is a Lecturer in Soviet and Post-Soviet history at University College London.
Topic:
Foreign Policy, Development, Economics, Partnerships, and Interview
Political Geography:
Africa, Soviet Union, West Africa, Ghana, Mali, and Guinea

3. Hakan Fidan and the New Turkish Diplomacy in Iraq

Author:
Firas Elias
Publication Date:
07-2023
Content Type:
Commentary and Analysis
Institution:
The Washington Institute for Near East Policy
Abstract:
Following President Recep Tayyip Erdoğan’s victory in the Turkish general elections in May 2023, Turkish foreign policy in Iraq has the potential to evolve in a different direction under the new Minister of Foreign Affairs, Hakan Fidan. Though the management of Turkey’s affairs in Iraq has shifted between various Turkish institutions since 2003, President Erdoğan has consolidated decision-making into his own hands since 2017, and his recent appointment of Fidan—a former intelligence director and loyal ally of Erdoğan—signals a continuation of this process, especially vis-a-vis Iraq. As Director of National Intelligence, Fidan oversaw the most sensitive backchannels with various regional and international actors, and he played a leading role in formulating Turkish intelligence and security policy. Notably, Fidan also led Turkey's reconciliation efforts with a variety of adversaries, including Egypt and Saudi Arabia. He has also been intimately involved in Turkish efforts to combat the Kurdistan Workers’ Party (PKK), targeting many PKK leaders and allied factions in northern Iraq, particularly in Sinjar, Makhmur, and al-Kuwayr. In this regard, Fidan comes equipped with deep connections to Iraq’s bureaucratic circles, having already succeeded in building bridges between various Iraqi actors and institutions. In particular, Fidan has developed close ties with both Sunni and Kurdish political leaders and has good relations with Falih al-Fayyadh, chairman of the Popular Mobilization Forces, whom he met during one of his secret trips to Iraq in September 2022. Fidan notably conducted such bridge-building efforts during the formation of the current Iraqi government led by Mohammed Shia al-Sudani. Given this background in Iraqi politics along with his experience in intelligence, Fidan is an important player through which Erdoğan can rethink Turkish involvement in Iraq on a number of different issues. Though Fidan’s appointment certainly indicates a shift toward more security-focused policies for Turkey, the new minister will also have to balance Turkey’s political ties, economic and energy interests, environmental concerns, and military operations in Iraq. Indeed, Erdoğan likely hopes that Fidan can both diversify Turkey’s relationship networks in Iraq and reestablish normalized energy negotiations with key partners while also curbing the threat of the PKK and Iranian-aligned militias operating in Turkey’s areas of involvement in Iraq.
Topic:
Security, Foreign Policy, Economics, Politics, and Energy
Political Geography:
Iraq, Turkey, and Middle East

4. The EU–US Data Protection Framework: Balancing Economic, Security and Privacy Considerations

Author:
Federica Marconi
Publication Date:
09-2023
Content Type:
Commentary and Analysis
Institution:
Istituto Affari Internazionali
Abstract:
The rapid evolution of digital technology has ushered in a data-centric economy, where data accessibility drives marketplace efficiency and economic growth across various industries. However, this shift, while offering numerous benefits, introduces significant privacy and data security challenges, particularly in the context of transatlantic data transfers. Considering the vast economic ties between the EU and the US, the transatlantic data flow vividly illustrates the complexities involved in governing and transferring data. It grapples with the ongoing challenge of striking a satisfactory balance between economic advantages stemming from data utilisation and various concerns pertaining to national security, digital sovereignty and individual rights. In recent years, the European Commission approved two different frameworks on transatlantic data flow – Safe Harbour in 2000[1] and Privacy Shield in 2016[2] – asserting that the US provided a level of data protection for data transfers essentially equivalent to that guaranteed in the EU. However, despite initial optimism, both adequacy decisions faced a significant setback when the Court of Justice of the European Union invalidated them in what is commonly referred to as the “Schrems saga”,[3] named after the Austrian activist who first challenged both frameworks before the European Court. The core arguments centred on the absence of adequate safeguards for personal data within US domestic law and the extent of state surveillance over such data when it was transferred, as initially disclosed by Edward Snowden in 2013.[4] This legal development led to a period of significant uncertainty and further heightened the ongoing debate concerning the regulation of transatlantic data transfer. To address the consequences of this legal turmoil, both EU and the US committed to establishing “a renewed and sound framework for transatlantic data flows”,[5] seeking a long-term solution to address the complexities of data privacy and security, eventually leading to the recently adopted EU–US Data Privacy Framework (“DPF”).
Topic:
Security, Economics, Political Economy, European Union, Privacy, Transatlantic Relations, and Digital Policy
Political Geography:
Europe and United States of America

5. To Deal or Not to Deal: How to Support Tunisia out of Its Predicament

Author:
Michaël Ayari and Riccardo Fabiani
Publication Date:
12-2023
Content Type:
Commentary and Analysis
Institution:
Istituto Affari Internazionali
Abstract:
Tunisia is beset by deepening political and economic challenges. President Kais Saied is transforming the country’s parliamentary system into an authoritarian presidential one that has become increasingly repressive. Arrests and convictions of opposition politicians have surged. Saied’s aggressive anti-foreigner discourse has fuelled xenophobic sentiment and contributed to a spike in violent attacks against sub-Saharan migrants. Economically, Tunisia is grappling with the fallout of a decade of sluggish growth compounded by a series of economic shocks since 2020. The nation’s public debt has soared, with significant debt repayments looming. As the country tries to deal with mounting financial constraints, its inability to attract foreign loans is further clouding its economic future. Saied now must decide whether to embrace a credit agreement with the International Monetary Fund (IMF) or potentially default on Tunisia’s foreign debt. Against this backdrop, the EU and, in particular, Italy have a pivotal role to play. They can either help steer Tunisia toward a more stable economic future or watch it descend into chaos.
Topic:
Economics, Foreign Aid, European Union, and IMF
Political Geography:
North Africa and Tunisia

6. Sanctions and the Economic Consequences of Higher Oil Prices

Author:
Christof Ruhl
Publication Date:
04-2022
Content Type:
Commentary and Analysis
Institution:
Center on Global Energy Policy (CGEP), Columbia University
Abstract:
Sanctions against the Russian Federation are developing so fast that it is hard to keep track of them and even harder to see a consistent narrative as events unfold. But there is one. Russia is the world’s largest exporter of energy and commodities. A persistent balance of payment surplus is the source of its financial strength, in terms of both current income and the financial assets previously accumulated by “fortress Russia.” Oil, gas, and coal exports constitute the most valuable revenue streams and are therefore prime targets of sanctions policy.[1] The problem is that energy sanctions will backfire badly if they lead to price increases large enough to derail the economic performance of sanctioning countries.
Topic:
Economics, Energy Policy, Oil, Natural Resources, and Sanctions
Political Geography:
Global Focus

7. 2022 Retrospective and Trends for 2023

Author:
Sarah Cliffe, Marta Bautista Forcada, Symphony Chau, and Hanny Megally
Publication Date:
12-2022
Content Type:
Commentary and Analysis
Institution:
Center on International Cooperation
Abstract:
One year ago, we started our analysis of trends in 2022 on a pessimistic note, including the long-lasting effects of the COVID-19 pandemic; macro-economic volatility; the risk of a war in Ukraine and escalating tensions over Iran and Taiwan; and increasing divisions between North and South and between China and the West. At the end of 2022, looking ahead to next year, we see some surprising grounds for optimism, even though many of the risks that we pointed to have come to pass. These trends include how multilateralism played a surprisingly successful role in Ukraine, as we consider the Black Sea Grain Initiative and the UN resolutions that passed relating to the conflict, along with agreements during the G20 summit in Bali. Other positive notes pertain to potentially transformative global agreements on damage and loss and international tax cooperation, and the absorption of longer-term lessons on inter-state aggression. However, on the negative end, we close the year facing multiple crises chasing the same (declining) pot of money—whether conflict, humanitarian, socio-economic or climate. For our team’s analysis of trends for 2023, there is a focus on nine areas where politics and economics are closely interlinked, and we expect this to be a dominant theme of 2023.
Topic:
Economics, Politics, United Nations, Multilateralism, and Russia-Ukraine War
Political Geography:
Global Focus

8. International Currency Instability and Food Security: Time to Rebuild “Real Food Economies”?

Author:
Jose M. L. Montesclaros
Publication Date:
10-2022
Content Type:
Commentary and Analysis
Institution:
Centre for Non-Traditional Security Studies, S. Rajaratnam School of International Studies
Abstract:
Debt-distressed countries are handicapped in riding the rising costs of imported food and farming inputs amidst monetary policy shifts internationally. It is timely to rebuild “real food economies” to improve food availability and affordability, hence averting food crises and ensuing political and social instability.
Topic:
Economics, Monetary Policy, Food, and Food Security
Political Geography:
Global Focus

9. Economic Consequences of Sanctions on Russia

Author:
Davit Shatakishvili
Publication Date:
01-2022
Content Type:
Commentary and Analysis
Institution:
Georgian Foundation for Strategic International Studies -GFSIS
Abstract:
Russia’s military intervention in Ukraine, coupled with Western political support for Ukraine, was followed by a tough economic response through an unprecedented package of sanctions against Russia set forth by the West. Their decision to do so seeks to make Russia pay an economic price for its military aggression, aiming to reduce its economic and martial capabilities, which are currently costing the lives of thousands of innocent people. The sanctions have already had quite severe economic consequences for Russia, but it is interesting to see whether they will achieve the West’s political goals and push President Putin to suspend the military aggression. Generally, a medium- to long-term period is required to see the effects of sanctions, and, currently, despite heavy economic losses, Russia is managing to coexist with the restrictions. Today, Russia is experiencing its biggest economic downturn since the end of the Cold War. The World Bank estimates that gross domestic product in Russia will reduce by 11% in 2022 (World Bank, 2022), while the International Monetary Fund forecasts this figure to be 8.5% (IMF, 2022). According to some estimates, the economic scale of the reduction may even reach 15% (IIF, 2022). Clearly, this largely depends on the potential consequences of the sanctions already imposed and the possibility of enacting new sanctions, including in terms of energy embargoes. As a result of the global economic crisis of 2008, the Russian economy shrank by about 8%, and now this figure is almost twice as high. Consequently, we can get some idea of its scale. The losses caused by sanctions will become more visible and tangible over time, resulting in much more severe social and economic effects in the coming years. According to the International Finance Institute, Russia will have lost the wealth it generated over the last 15 years by the end of 2023 (IIF, 2022). One of the main reasons for this will be reduced domestic demand, and if the trade-related sanction package is expanded, exports will fall further than expected, which in turn will lead to a sharp decline in budget revenues. Clearly, the Russian military aggression has also caused global economic consequences, such as rising prices for basic consumer goods, disruption of supply chains, and delays in international trade. However, since invading Ukraine, Russia’s financial losses have been high. It is interesting to take a look at what actual consequences the Russian Federation has faced in terms of sanctions, and how the country will be able to continue coexistence with the restrictions and expand its own aggressive foreign policy.
Topic:
Economics, Sanctions, and Russia-Ukraine War
Political Geography:
Russia, Ukraine, and Eastern Europe

10. The Concerts and Live Entertainment Industry: A Significant Economic Engine

Author:
Michael Mariano and Adam Sacks
Publication Date:
07-2021
Content Type:
Commentary and Analysis
Institution:
Oxford Economics
Abstract:
We all remember our first concert or seeing our favorite band live, but rarely do we think of the stagehands, lighting techs, and ushers who worked hard to deliver these memorable experiences or the impact they have on our local, state, and national economies. In order to better understand the economic impact this important industry has across the United States, Oxford Economics developed a customized framework to analyze the impact of the concerts and the live entertainment industry's nationwide economic contributions in 2019 and conducted an in-depth analysis of the economic impacts of live event venues, artists, and visitor spending in terms of economic output, labor income, taxes, and jobs. Due to the pandemic putting a pause on live events in 2020, this report examined 2019 data to ensure a complete analysis could be conducted that is in line with regular performance of the industry. The industry drives significant economic activity that supports businesses, households, and government finances across the United States. In the wake of COVID-19, live events were shut down for over a year. Beyond the cultural loss involved, the US economy has incurred massive losses in GDP, employment, household income, and tax revenue due to the absence of live events. After a year of isolation, many crave getting back to enjoying memorable live experiences safely in 2021 and into the 2022 and 2023 seasons, which position the industry for growth in the coming years. The Concerts and Live Entertainment Industry, as defined by this report, includes all live musical performances, such as festivals and concerts, and comedy shows held in amphitheaters, clubs, theaters, arenas, stadiums, and other venues. Not included in this analysis are theater, Broadway, sporting events, and family shows.
Topic:
Economics, Culture, Music, popular culture, and Entertainment
Political Geography:
North America and United States of America

11. Tehran Signals: Uncovering the limitations of the Chinese Iranian agreement

Author:
Mervat Zakaria
Publication Date:
04-2021
Content Type:
Commentary and Analysis
Institution:
Future for Advanced Research and Studies (FARAS)
Abstract:
Uncovering the limitations of the Chinese Iranian agreement The Economic Cooperation Agreement signed between Iran and China in March 2021 unfolded a development plan that includes China injecting $ 400 billion into various sectors of the Iranian economy. This grants Tehran an opportunity to increase the pressures imposed on the new US administration, regarding resumption of the Joint Comprehensive Plan of Action held with the P5+1 in 2015, as well as confronting the surrounding regional threats and alleviating internal pressures by improving the Iranian standard of living.
Topic:
Economics, International Cooperation, and Treaties and Agreements
Political Geography:
China, Iran, Middle East, and Asia

12. The Spark at Sidi Hassine: The Tunisian Protests Between Possible Escalation and Containment

Author:
Karam Saeed
Publication Date:
06-2021
Content Type:
Commentary and Analysis
Institution:
Future for Advanced Research and Studies (FARAS)
Abstract:
The stripping of a young man on June 8, by Tunisian police in the district of Sidi Hassine, west of the capital Tunis, has sparked a wave of angry protests that swept the whole country. The popular tensions do not stem only from a rejection of violations by the security forces of the cabinet headed by Hichem El Mechichi. Rather they are being stoked by the escalating political polarization among the presidency, the cabinet and the parliament. This is accompanied with the underperformance of state institutions failing to carry out their essential functions, in addition to the deteriorating living conditions, the messy monetary policies, increasing reliance on borrowing from other countries, while at the same time cutting subsidies. All of this triggered the recent wave of protests.
Topic:
Economics, Protests, Institutions, and Police
Political Geography:
North Africa and Tunisia

13. Restoring the Balance: The economic and political motives for the 'New Mashriq' Project

Author:
Muthana Al-Obeidi
Publication Date:
07-2021
Content Type:
Commentary and Analysis
Institution:
Future for Advanced Research and Studies (FARAS)
Abstract:
The New Mashriq Plan, which was announced in the Baghdad tripartite summit (which brought together president Abdel-Fattah El-sisi of Egypt, King Abdullah II of Jordan, and the Iraqi prime minister, Mustafa al-Kadhimi), stimulated a lot of analyses, which reflected two opposing views. Some analysts seemed to be overly optimistic about the outcomes of this Iraqi-Egyptian-Jordanian project. On the other hand, others adopted a more skeptical, even pessimistic, attitude, believing that it will fail to achieve its purpose, on account of the many challenges it has to face. Despite all the analyses available about the project, questions are still being raised, such as: How did the project develop? What is its economic agenda? What about its political dimensions? And, last but not least, what will its future be like?
Topic:
Economics, Politics, and Treaties and Agreements
Political Geography:
Iraq, Middle East, Egypt, and Jordan

14. Economic Diplomacy: The impact of Russia’s growing role on the Lebanese crisis

Author:
Nawar Samad
Publication Date:
07-2021
Content Type:
Commentary and Analysis
Institution:
Future for Advanced Research and Studies (FARAS)
Abstract:
A Russian business delegation visited Lebanon in late June 2021 to offer support to the country by cultivating projects in the oil sector, development plans for the energy industry as well as the ports in Beirut and Tripoli. For the past two years, Lebanon, which is going through the worst economic and financial crisis in its history, and has been trying to secure international aid to survive, is now facing the attractive Russian economic bailout offer. Although such an offer is welcomed by Lebanon, the Russian initiative raises concerns across the West, and particularly in the United States, which is in control of Lebanon’s banking system and still has significant influence on the state’s politics and financial sector. The United States believes that it is not possible to dissociate this Russian offer from Moscow’s desire to expand its influence in a region, in which it already established military presence and gained access to the Eastern Mediterranean, where a conflict is underway over investment of newly-discovered gas fields.
Topic:
Diplomacy, Economics, Financial Crisis, and Gas
Political Geography:
Russia, Eurasia, Middle East, and Lebanon

15. Germany Between a Rock and a Hard Place in China-US Competition

Author:
Markus Jaeger
Publication Date:
03-2021
Content Type:
Commentary and Analysis
Institution:
German Council on Foreign Relations (DGAP)
Abstract:
The Biden administration has just issued its Interim National Security Strategic Guidance. The guidance document states the need to “build back better at home” and acknowledges that “international economic policies must serve all Americans” – a theme often referred to as “foreign policy for the middle class”. While the interim guidance does not preclude cooperation with China in selected policy areas, it is unambiguous in considering China a strategic competitor. The prospect of intensifying China-US geopolitical and (geo)economic competition is bad news for Germany, which has high value trading and investment relationships with both countries.
Topic:
Foreign Policy, Economics, National Security, and Geopolitics
Political Geography:
China, Europe, Asia, Germany, North America, and United States of America

16. Assessing China and Russia’s Influence on the German Parliamentary Elections

Author:
Didi Kirsten Tatlow and András Rácz
Publication Date:
08-2021
Content Type:
Commentary and Analysis
Institution:
German Council on Foreign Relations (DGAP)
Abstract:
China and Russia want to maintain Germany’s political status quo: Centrist, at times mercantilist policies, have often worked in their favor. Now, with the Green Party ascendant and public opinion shifting, neither Russia nor China can be sure that classic "centrism” will emerge after September. Russia and China will increase their influence and interference efforts in the run-up to the election and beyond, using informational, political, and cyber tactics, and economic and political networks.
Topic:
Economics, Politics, Public Opinion, and Elections
Political Geography:
Russia, China, Eurasia, and Asia

17. Methane Emission Controls: Redesigning EPA Regulations for Greater Efficacy

Author:
Robert Kleinberg
Publication Date:
10-2021
Content Type:
Commentary and Analysis
Institution:
Center on Global Energy Policy (CGEP), Columbia University
Abstract:
Natural gas holds a critical role in the US energy economy, providing 32 percent of primary energy evenly distributed among electric power generation, industrial use, and residential and commercial consumption (LLNL 2020). As countries set targets to minimize climate change, however, widespread reliance on fossil fuels, with their attendant greenhouse gas emissions, is being scrutinized. Methane, the main constituent of natural gas, is second only to carbon dioxide in its contribution to greenhouse gas warming (Kleinberg 2020). It holds the potential to be a primary driver of global average temperature change between now and 2050—no matter what progress is made in controlling increases of atmospheric carbon dioxide over the next thirty years (Shindell et al. 2012). Half of global methane emissions come from natural sources, such as swamps and seeps, and half from anthropogenic sources, such as agriculture and fossil fuels. Regulations curbing methane emissions from the oil and gas industry are essential to mitigating global climate change over the next three decades. In the United States, current regulations were devised at a time when the technology for the measurement of natural gas emissions was relatively immature. Comprehensive performance-based regulations were not an option, and because of this, many regulations put in place were highly prescriptive. Data show these regulations have been largely ineffective. This commentary examines the potential to reduce emissions of methane from oil and natural gas infrastructure. It begins with a brief history of natural gas regulations and the effectiveness of rulemaking, before exploring unregulated and underregulated sources of methane. This is followed by a discussion about improvements in measurement capabilities and how regulations could be used to more effectively address methane emissions. This work shows the complexities of oil and gas production do not lend themselves to prescriptive regulation. Performance-based regulation, including quantitative compliance monitoring, would engage the talents of thousands of engineers, encouraging them to solve problems using locally appropriate solutions rather than relying on a prescriptive checklist approach that cannot anticipate every eventuality. The key to performance-based regulation is accurate measurement, and this capability has improved rapidly in recent years. Aircraft-based, facility-scale measurements encompassing tens of thousands of facilities spread over tens of thousands of square kilometers are economically viable and increasingly common. Permanently installed continuously monitoring sensors show promise in detecting intermittent sources; oil field pilot studies are underway. However, aircraft- and ground-based facility-scale measurements are not compliant with the current regulatory regime, which focuses on individual components. Therefore, the current regulatory regime must be completely rethought. (A comprehensive exposition of this topic, with evidentiary support, has been submitted to the Environmental Protection Agency [Kleinberg 2021b].)
Topic:
Economics, Energy Policy, Natural Resources, Gas, and Methane
Political Geography:
North America and United States of America

18. The Global Energy Crisis: Implications of Record High Natural Gas Prices

Author:
Anne-Sophie Corbeau
Publication Date:
10-2021
Content Type:
Commentary and Analysis
Institution:
Center on Global Energy Policy (CGEP), Columbia University
Abstract:
The recent spike in energy prices across the globe has led to talks of an energy crisis with far reaching repercussions as the Northern Hemisphere braces for winter. While a significant focus has been on natural gas as gas spot prices in Asia and Europe hit levels unthinkable before ($56/million British thermal unit [mmBtu], or over $320/barrel [bbl] in oil-equivalent terms), the crisis has extended well beyond gas: oil prices are rising, China and Europe are facing record coal prices, and carbon prices in Europe have reached historic levels. As gas-fired plants (or coal in some regions) are at the margin, this is also leading to record power prices in different parts of the world. These circumstances lead to immediate concerns, but also flag important potential lessons for the future. In the short term, immediate concerns include a potential gas supply and power crunch over the coming winter, the impact of record-high gas and electricity prices on end-users’ energy bills, and power shortages. For natural gas, however, the crisis may extend beyond the weather. The role of natural gas in a world looking to slash carbon emissions has been an ongoing topic of discussion, and the potential for a sustained crisis that batters consumers may have critical repercussions for the fuel longer term. Already, at least two schools of thought are emerging from the current situation that reflect the ongoing debate about natural gas: one that views this episode as further proof that the world needs to rapidly get rid of fossil fuels, including natural gas, and one that views it as proof that more gas is needed in the immediate future to satisfy growing global energy demand. Questions of security of supply and affordability are also part of the discussion, especially in a future world with a higher share of renewables but where fossil fuels are still necessary to provide flexibility and are likely to continue to set power prices at the margin until new flexibility tools such as batteries or demand-side management are developed at scale. In addition, there are concerns about another widespread gilets jaunes[1] protest movement triggered by price spikes as governments push their agenda for decarbonization. For the gas industry, it could prove to be a moment of truth. The IEA stated earlier this year that “no new oil and natural gas fields are needed in the net-zero pathway.”[2] Indeed, producers are facing increased scrutiny about future investments, including in upstream activities and liquefied natural gas (LNG), but at the same time are asked to make gas readily available when needed.[3] Meanwhile, developing countries that had been looking favorably at natural gas as a way to complement renewables and decommission coal could be deterred by these high and volatile gas prices from supporting LNG imports. The recent increase in gas prices could impact these decisions in different ways, especially if they remain high for the next few years. This commentary provides a brief overview of the current gas market and examines the potential near- and longer-term impacts for natural gas.
Topic:
Economics, Energy Policy, Natural Resources, Gas, and Energy Crisis
Political Geography:
Global Focus

19. Global Health Security COVID-19 and Its Impacts – Rebuilding Regional Economies: Role of Female Labour

Author:
Tamara Nair and Phidel Marion G. Vineles
Publication Date:
08-2021
Content Type:
Commentary and Analysis
Institution:
Centre for Non-Traditional Security Studies, S. Rajaratnam School of International Studies
Abstract:
Increasing women’s participation in regional economies will result in ASEAN’s sustainable economic growth, as part of post COVID-19 rebuilding. Hence, greater efforts must be made to advance women’s broader economic participation to achieve dynamic, resilient, and inclusive regional economies.
Topic:
Economics, Gender Issues, Regional Cooperation, Labor Issues, and Regionalism
Political Geography:
Asia and ASEAN

20. Snakes, rats and drug addicts used to dwell here – analysis of the narrative utilised to capture the state

Author:
Luka Steric
Publication Date:
03-2021
Content Type:
Commentary and Analysis
Institution:
Belgrade Centre for Security Policy
Abstract:
Foreign direct investments are the cornerstone of the current government’s economic policy. In their statements, the officials call them drivers of development, saying that they have enabled the revival of the economy and turned Serbia into the “economic tiger of Southeast Europe.”1 The fact that the value of the investments Serbia has managed to attract is greater “than what was achieved by all the countries of the Western Balkans put together” 2 is often mentioned as the key measure of success. However, the story of brilliant success quickly loses its lustre when one considers the long-term effects and all-encompassing consequences of this policy. Due to the way they are contracted and implemented, foreign direct investments represent one of the key mechanisms for capturing the state. Hiding behind the stories of a better future and new jobs, the government is breaking down the system of legal regulations and statutory procedures, promoting private interest to the detriment of the public one, and using foreign investments as propaganda ammunition to legitimise unlimited power. The results of such policy are a number of negative consequences for the state and the citizens, such as the increase of public debt, dramatic violation of workers’ rights and alarming problems with environmental pollution. In order to mask the negative consequences and legitimise the policy of attracting foreign investors based on the above described pattern, a complex narrative has been developed presenting foreign investments as a successful, and the only possible, model for state development. This meta-narrative about progress, which media are building up every day, is based on four basic component narratives: on the economic revival, on the efficiency of personal rule, on transparent contracts and on the opponents of Serbia’s development who ‘unfoundedly’ criticise the government’s economic success. In the analysis of the narrative we will focus on the statements of officials made since 2012, which is when the regime led by the Serbian Progressive Party came to power. Many of the described mechanisms, such as non-transparent, harmful contracts and unjustifiably high subsidies, also existed during the previous government.3 However, the capture of the state, carried out - among other things - with the help of foreign direct investments, has reached completely new dimensions under the current regime, while the narratives that accompany it have been significantly ‘improved’.
Topic:
Development, Economics, Foreign Direct Investment, and Drugs
Political Geography:
Europe and Serbia

21. Economic Assessment of the Euro Area: Winter 2020/2021

Author:
Klaus-Jurgen Gern
Publication Date:
02-2021
Content Type:
Commentary and Analysis
Institution:
Kiel Institute for the World Economy (IfW)
Abstract:
This EUROFRAME Report presents an assess- ment of the economic outlook for 2021 focuses on the euro area based on a synopsis of the fore- casts of EUROFRAME institutes. Perspectives for UK and CEEs countries are described in Boxes A and B, respectively. In the Focus section, we discuss a special topic, based on work done in the EUROFRAME insti- tutes. This time, we discuss the impact that the COVID-19 crisis had on labour markets in Eu- rope and policy responses to this challenge, based on the experience in the countries hosting EUROFRAME institutes.
Topic:
Economics, Regional Cooperation, European Union, Regionalism, Pandemic, and COVID-19
Political Geography:
Europe

22. World economy in spring 2021: Recovery stays on track

Author:
Klaus-Jurgen Gern, Philipp Hauber, Stefan Kooths, and Ulrich Stolzenburg
Publication Date:
03-2021
Content Type:
Commentary and Analysis
Institution:
Kiel Institute for the World Economy (IfW)
Abstract:
The global economy continued to recover in the winter semester, despite the number of new infections with the coronavirus rising sharply and containment measures tightened again in many countries. Industrial production and world trade have already fully catched up with activity levels before the pandemic and appear to be little affected by the second wave of Covid-19. While the European economy did slip into recession again, the decline in GDP is not expected to be dramatic and should be followed by a strong recovery from spring onward, provided that progress in vaccination allows a substantial and sustained relaxation of measures designed to suppress the virus. In the course of this year, the global upturn will thus increasingly extend to economic sectors that remain severely impeded for the time being, such as tourism and entertainment, and to economies that are particularly geared to these activities. On a purchasing power parity basis, global output is expected to increase by 6.7 percent in 2021 and by 4.7 percent in 2022, thus progressively closing the gap to the pre-crisis path of activity towards the end of the forecast period. We have raised our December forecast by 0.6 percent for both this year and next, with a particularly strong improvement in the outlook for the United States. World trade in goods is expected to grow by 7.5 percent this year. With growth of 4.7 percent this year and next, respectively, Towards the end of the forecast horizon world trade will thus be even higher than expected before the crisis.
Topic:
Economics, International Trade and Finance, Forecast, Economic Growth, Pandemic, and COVID-19
Political Geography:
North America and United States of America

23. German Economy Summer 2021

Author:
Kiel Institute
Publication Date:
06-2021
Content Type:
Commentary and Analysis
Institution:
Kiel Institute for the World Economy (IfW)
Abstract:
The German economy is picking up speed again. After the resurgence of the Covid-19 pandemic had interrupted the economic recovery in the winter half-year, GDP will expand at a fast pace in the further course of the year and exceed its pre-crisis level again. With the removal of the pandemic-related restrictions, activity will rebound, especially in those areas that were previously particularly burdened. Retail trade and contact-intensive services in particular are likely to benefit from the rebound in private household consumption. For the time being, however, the recovery will be delayed in the manufacturing industry. The strong global recovery has brought with it multi-layered supply bottlenecks that are noticeably hampering production in many firms. Despite the very good order situation, production in the manufacturing industry will therefore probably only gradually return to its recovery path in the second half of the year, provided that the supply bottlenecks then gradually ease. With the supply bottlenecks, price pressures have also increased, especially as economic momentum is high worldwide. Thus, prices for raw materials, intermediate goods and transport services have recently been on a broad upward trend. All in all, GDP is expected to grow by 3.9 percent this year and by 4.8 percent in 2022. Consumer prices will rise at a much faster rate of probably 2.6 percent this year and by around 2 percent in 2022.
Topic:
Economics, GDP, Economic Growth, Pandemic, Industry, and COVID-19
Political Geography:
Europe and Germany

24. Ahead of Biden-Moon Summit, South Koreans and Americans Align on China and North Korea

Author:
Karl Friedhoff and Suh Young Park
Publication Date:
05-2021
Content Type:
Commentary and Analysis
Institution:
Chicago Council on Global Affairs
Abstract:
Chicago Council survey data find majorities in South Korea view China as more of a security threat than a security partner and as more of an economic threat than an economic partner. On May 21, South Korea’s President Moon Jae-in will meet President Joe Biden at the White House. In his first 100 days in office, Biden’s foreign policy has focused on repairing alliances and setting the administration’s policy toward China—in March and April alone, the administration participated in US-China talks in Alaska, 2+2 meetings in South Korea and Japan, trilateral talks among national security advisers, and Japanese Prime Minister Yoshihide Suga's visit to Washington. Moon’s visit will add North Korea to the agenda. The two leaders meet at a time when there are significant gaps on their preferred paths forward to dealing with Beijing and Pyongyang. However, recent Chicago Council surveys find that attitudes among publics in South Korea and the United States are remarkably similar when it comes to China and North Korea.
Topic:
Security, Foreign Policy, Economics, and Public Opinion
Political Geography:
China, Asia, South Korea, North America, and Southeast Asia

25. The internet of things: China’s rise and Australia’s choices

Author:
John Lee
Publication Date:
12-2021
Content Type:
Commentary and Analysis
Institution:
Lowy Institute for International Policy
Abstract:
The Internet of Things (IoT) is connecting a growing range of economic and social activity across national borders, while simultaneously expanding the security challenges implied by these connections, including to Chinese state power. Despite US-led efforts to exclude Chinese actors from digital networks worldwide, the economies of East and Southeast Asia are becoming more densely integrated with China through evolving IoT ecosystems and supply chains. These trends threaten to disadvantage Australia and require policies to build up the country’s own technological capacities while devising innovative ways to manage, rather than avoid, the risks entailed in growing digital connections with China.
Topic:
Security, Economics, Science and Technology, Internet of Things, and Supply Chains
Political Geography:
China, Asia, Australia, and United States of America

26. Indispensable Masks: The Economics behind Mask Mania in the Middle East

Author:
FARAS
Publication Date:
06-2020
Content Type:
Commentary and Analysis
Institution:
Future for Advanced Research and Studies (FARAS)
Abstract:
Sales of medical masks, gloves, adhesive tapes and other protective equipment have soared in the Middle East after the spread of COVID-19 and especially after the WHO raised the virus global threat assessment to its “highest level” on February 29. This led to an increase in demand for masks to a degree of “obsession" at times, raising regional concerns after the increase in its price along with risking its supply and the formation of a parallel market. Although the subject of medical masks may fall under public health matters, measures taken to address its economic use actually have to do with the adopted governmental policies to deal with fighting the pandemic on state levels. These policies include, but are not limited to, enhancing healthcare infrastructure, monopoly prevention, consumer protection, relaunching inactive factories specifically after the disruption of imports from China as one of the largest global masks suppliers.
Topic:
Economics, Health, and COVID-19
Political Geography:
Middle East and North Africa

27. The Novel Coronavirus Outbreak and Its Political/Economic Impact on China

Author:
Li Hao
Publication Date:
03-2020
Content Type:
Commentary and Analysis
Institution:
Japan Institute Of International Affairs (JIIA)
Abstract:
As of March 9, 2020, instances of pneumonia attributable to the novel coronavirus (COVID-19) have appeared in more than 100 countries; more than 80,000 persons have been infected in China, of whom over 3,000 have died. These infections have spread to Japan, South Korea, Italy, Iran and elsewhere, devastating global exchange and economic activity. This paper offers a brief examination of the political and economic impact of this outbreak on China.
Topic:
Economics, Politics, and COVID-19
Political Geography:
China, Asia, and Global Focus

28. Demanding the Future: Navigating the Pacific's Youth Bulge

Author:
Catherine Wilson
Publication Date:
07-2020
Content Type:
Commentary and Analysis
Institution:
Lowy Institute for International Policy
Abstract:
High population growth is driving a rapid increase in the proportion of young people in Pacific Island countries, with half the region's population aged under 23. This 'youth bulge' is particularly acute in Melanesian states and will have a major impact on every area of development in the region in the coming decades. Economic prosperity, political success and social stability in the Pacific Islands region in the future will depend on harnessing this demographic dividend and preventing youth marginalisation and disillusionment. Urgent and coordinated national and regional responses should include addressing pressing health problems, expanding Australia's seasonal worker scheme, increasing migration pathways, and targeted skills and employment programs.
Topic:
Demographics, Economics, Migration, Politics, Employment, Youth, Population Growth, and Marginalization
Political Geography:
Melanesia and Pacific Ocean

29. The Economic Impact of McCarran (Las Vegas) Airport

Author:
Oxford Economics
Publication Date:
01-2020
Content Type:
Commentary and Analysis
Institution:
Oxford Economics
Abstract:
McCarran and its sister airports bring widespread benefit to the Las Vegas region. Oxford Economics found that 25% of all jobs in the region are supported by airport operations and that the benefit is widespread. For example, passengers arriving by air support over 115,000 jobs in the hospitality and leisure industry and 11,000 jobs in manufacturing and related activities are supported by cargo operations. Just as importantly, direct access from McCarran to global markets help Las Vegas diversify its economy and attract new companies to the region.
Topic:
Economics, Tourism, Job Creation, and Travel
Political Geography:
North America, United States of America, and Las Vegas

30. Levant Illicit Tobacco 2019

Author:
Oxford Economics
Publication Date:
03-2020
Content Type:
Commentary and Analysis
Institution:
Oxford Economics
Abstract:
This report provides an overview of the nature of illicit trade in cigarettes across three markets in the Levant region: Egypt, Jordan, and Lebanon. It establishes estimates of Illicit Consumption in each market and the impact it has on government tax revenue.
Topic:
Economics, Markets, Finance, and Illegal Trade
Political Geography:
Africa, Middle East, Lebanon, Egypt, and Jordan

31. The Economic Impact of COVID-19 on Asia-Pacific

Author:
Oxford Economics
Publication Date:
04-2020
Content Type:
Commentary and Analysis
Institution:
Oxford Economics
Abstract:
In this report, Oxford Economics looks at the impact the COVID-19 pandemic on the economies of Asia-Pacific. We look at the impact of lockdown measures to contain the pandemic in China and other economies in the region, and their toll on business and households. As the COVID-19 pandemic continues around the globe, governments, investors, business and households are beginning to understand the financial and economic costs more clearly. In this report we examine the channels through which COVID-19 has impacted on the economies of the Asia-Pacific region. We explore the economic cost of lockdown measures, particularly so in China, as well as knock-on effects through supply-chains, tourism, and financial markets. We set out our forecasts for an historically-sharp downturn in the first half of 2020, but potential for a rapid recovery starting later this year and into 2021. Finally, we examine a downside scenario, simulated using our Global Economic Model, in which lockdown measures spread globally and the economic cost is even greater than in our baseline forecast.
Topic:
Economics, Public Health, Pandemic, and COVID-19
Political Geography:
Asia and Asia-Pacific

32. Illicit Cigarette Consumption in Mexico

Author:
Oxford Economics
Publication Date:
09-2020
Content Type:
Commentary and Analysis
Institution:
Oxford Economics
Abstract:
This research seeks to quantify the size and scale of the illicit consumption of cigarettes in Mexico, as well as the impact on government revenues, for the most recent 12-month period pre-Coronavirus.
Topic:
Economics, Governance, Illegal Trade, and Consumerism
Political Geography:
North America and Mexico

33. EU Trade Policy Reform: Levelling the Playing Field in a New Geo-Economic Environment

Author:
Claudia Schmucker and Stormy-Annika Mildner
Publication Date:
10-2020
Content Type:
Commentary and Analysis
Institution:
German Council on Foreign Relations (DGAP)
Abstract:
Today, trade policy is used more and more often to achieve geopolitical goals. To defend European interests in this new geo-economic environment, the EU must recalibrate its unilateral, bilateral, and multilateral trade toolbox. While the EU needs to counter the increasingly unlevel international playing field, self-sufficiency is not a viable option. The strength of the EU depends on its openness and integration in world markets.
Topic:
Economics, Reform, European Union, and Trade
Political Geography:
Europe

34. How Developing Countries Can Manage the COVID-19 Economic Impact

Author:
Matthew Eldridge
Publication Date:
04-2020
Content Type:
Commentary and Analysis
Institution:
Urban Institute
Abstract:
Even as many developing countries are confronting the health impacts of the COVID-19 pandemic, they are already bracing for the widespread, global recession that will follow. These countries already struggle to provide many services and supports to their citizens, and although the emergency assistance packages of international financial institutions are a start, they alone won’t be enough to mitigate the economic impact of COVID-19 and enable a strong recovery. Although most developing countries escaped the 2007–08 financial crisis with limited damage, for many, this economic downturn is expected to be much worse because of the direct health effects, the sharp decline in global economic activity, the structural composition of their economies, and constrained policy options.
Topic:
Development, Economics, Pandemic, and COVID-19
Political Geography:
Global Focus

35. Rethinking Fiscal Policy: Progressive US Politics Meets Radical Economics

Author:
Stephen Grenville
Publication Date:
07-2019
Content Type:
Commentary and Analysis
Institution:
Lowy Institute for International Policy
Abstract:
Recognition of the need for greater government intervention in the economy is increasingly shaping the US political debate, with this shift paralleled among prominent economists. The surprising success of Bernie Sanders’ 2016 presidential campaign has emboldened Democratic presidential hopefuls to advocate bold platforms involving larger government. Coincidentally, some prominent economists are advocating greater government expenditure to address ‘secular stagnation’. This is unlikely to result in a radical shift away from the post-Reagan small-government policies, but the centre of gravity has shifted towards recognising a role for more government intervention.
Topic:
Economics, Politics, Elections, and Fiscal Policy
Political Geography:
North America and United States of America

36. East Asia's Decoupling

Author:
Roland Rajah
Publication Date:
01-2019
Content Type:
Commentary and Analysis
Institution:
Lowy Institute for International Policy
Abstract:
East Asia is no longer reliant on US or Western markets to fuel its growth, giving it more room to manage amid global trade tensions. Heightened global trade tensions and the US desire to ‘decouple’ from the Chinese economy for national security reasons pose significant risks to East Asia’s export-driven growth model. However, the latest data suggests East Asia is no longer so dependent on exporting to the West, with China in particular eclipsing the United States as the leading source of ‘final demand’ for the rest of the region’s exports. This gives East Asia much greater room to manoeuvre, as regional integration is now a more viable platform for growth while US decoupling efforts will likely struggle to find traction in the region.
Topic:
Economics, International Trade and Finance, Global Markets, and Exports
Political Geography:
China, East Asia, Asia, North America, and United States of America

37. Consequences of Alignment: Why do Qatar and Turkey oppose designating the Pasdaran as a terror group?

Author:
FARAS
Publication Date:
04-2019
Content Type:
Commentary and Analysis
Institution:
Future for Advanced Research and Studies (FARAS)
Abstract:
Qatar and Turkey were quick to express their opposition to the US designation, on April 8, 2019, of the Islamic Revolutionary Guard Corp (IRGC) as a foreign terrorist organization. This stance cannot be separated from Doha and Ankara's perception of the repercussions that such a move could have on their position on various regional crises or the bilateral relations with Iran, which appear to be heading toward difficult challenges. The most critical of these challenge are the continuous pressures it faces at home and abroad. This could spell serious problems for Qatar and Turkey if they insist on siding with Iran in the coming period.
Topic:
Economics, Terrorism, Sanctions, Alliance, and Islamic Revolutionary Guard Corp (IRGC)
Political Geography:
Iran, Turkey, Tehran, Qatar, Ankara, and Doha

38. The Economic Impact of Huawei in Japan

Author:
Oxford Economics
Publication Date:
11-2019
Content Type:
Commentary and Analysis
Institution:
Oxford Economics
Abstract:
Since opening its first office in Japan in 2005, Huawei has played a significant role in developing Japan's digital infrastructure. Working collaboratively with local manufacturers and innovators, the company has developed a suite of innovations that tailor technology solutions to the Japanese context. Huawei also delivers long-term benefits to Japan's productive potential, through its investment in Japanese research and development and the training it provides to its employees and the wider Japanese workforce. This report, commissioned by Huawei, seeks to quantify the company's "total economic impact" across Japan, through its direct operations and the "knock-on effects" it creates in Japanese supply chains and the wider economy. We find that in 2018, Huawei sustained a JPY 766 billion contribution to Japan's GDP, supported 46,400 Japanese jobs and generated JPY 208 billion in tax revenues.
Topic:
Economics, Tax Systems, Innovation, and Private Sector
Political Geography:
Japan and Asia