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21. The Future of U.S. Supply Chains: National Security and the Pandemic

Author:
Troy Stangarone
Publication Date:
07-2021
Content Type:
Journal Article
Journal:
Joint U.S.-Korea Academic Studies
Institution:
Korea Economic Institute of America (KEI)
Abstract:
The COVID-19 pandemic has been the most significant economic disruption to the international economy since the Great Depression. The IMF estimates that the global economy contracted by 3.5 percent last year, while the WTO has projected a 5.3 percent decline in global trade. The economic impact on the United States has been significant as well. Early in the pandemic the United States experienced shortages of critical medical supplies and products, while the need to social distance has continued to place restrictions on the overall economy. For 2020, the pandemic saw GDP decline by 2.3 percent, while exports fell by 12.9 percent and imports by 6.4 percent. All of this has resulted an increased focus on supply chains and their vulnerabilities.
Topic:
Economics, National Security, COVID-19, and Supply Chains
Political Geography:
China, Asia, North America, and United States of America

22. The Big Squeeze: Japanese Supply Chains and Great Power Competition

Author:
Mireya Solis
Publication Date:
07-2021
Content Type:
Journal Article
Journal:
Joint U.S.-Korea Academic Studies
Institution:
Korea Economic Institute of America (KEI)
Abstract:
Japan led, and was transformed, by the global supply chain revolution. Facing growing protectionism in industrialized markets and reeling from sharp yen appreciation in the aftermath of the 1985 Plaza Accord, Japanese firms responded with a drastic increase in their overseas investment activities. In so doing, many of these companies spearheaded the movement towards the fragmentation of production across national boundaries that sought efficiency gains by pooling the competitive advantages of different locations. Japan’s experience with the first supply chain revolution was transformative. It altered its export-led model with important implications for its foreign policy. Japanese investments in the United States helped abate trade frictions; integrated production was at the heart of the project to rebuild relations with China, and Japan’s lead as foreign investor in Southeast Asia has been a pillar of its blueprint for regional integration. The strains in the rules-based international trade order, however, have raised questions about the ability of global supply chains to continue to operate effectively. The U.S.-China geopolitical rivalry has manifested in a damaging trade war, and moves to restrict tech flows are creating decoupling pressures. The COVID-19 pandemic has exacerbated these trends with lockdowns that disrupt supply chains while export protectionism and calls to renationalize production are on the rise. The intensified risk environment could lead to a second supply chain revolution with a greater emphasis on redundancy and diversification and bifurcation of productive chains. How will Japan respond to the challenges to international production, a central engine of its economic prosperity, and with what consequences for its relations with major powers? To provide greater clarity on this overarching question, this paper is organized as follows. Section 1 describes the central role of Japanese firms in the emergence and deepening of regional production networks. Although Japan’s overall share of intra-regional trade has decreased in the 21st century—in tandem with China’s rise as regional hub- Japanese firms have retained their central role in GVCs (Global Value Chains) through their advanced manufacturing capabilities. Section 2 offers a glimpse of past and recent supply chain shocks—China’s embargo of rare earth metals, the Great East Japan Earthquake in Tohoku, and the Japan-Korea export control dispute—to illustrate both sources of vulnerability and resilience of Japanese GVCs. Section 3 assesses the systemic shift brought about by revived great power competition, and identifies some early adjustment responses from Japanese firms to a new normal of heightened geopolitical tension.
Topic:
Economics, Strategic Competition, and Supply Chains
Political Geography:
Japan, China, and Asia

23. The China-Pakistan Economic Corridor

Author:
Ali Haider Saleem and Arhama Siddiqa
Publication Date:
08-2021
Content Type:
Journal Article
Journal:
Baku Dialogues
Institution:
ADA University
Abstract:
The term Silk Road is used by scholars to describe a network of trading posts and markets linking East Asia to the Mediterranean. In terms of geographical context, the editors of Baku Dialogues define the region as the “geographic space looking west past Anatolia to the warm seas beyond; north across the Caspian towards the Great Plain and the Great Steppe; east to the peaks of the Altai and the arid sands of the Taklamakan; and south towards the Hindu Kush and the Indus valley, looping down around in the direc­tion of the Persian Gulf and across the Fertile Crescent.” States falling under this parasol include China, Pakistan, Iran, Turkey, the five Central Asian republics, Azerbaijan, and Russia. China’s Belt and Road Initia­tive (BRI), which traverses several continents, is a long‑term, strategic investment plan with the objective of facilitating economic integration of countries in line with the historic Silk Road. In April 2015, China’s President, Xi Jinping announced the China‑Pakistan Economic Corridor (CPEC), which amounts to BRI’s flagship project. This en­terprise, which encompasses road, rail, and oil pipeline links, will help Beijing advance its influence across South and Central Asia.
Topic:
Economics, International Cooperation, International Trade and Finance, Bilateral Relations, Infrastructure, and Silk Road
Political Geography:
Pakistan, China, and Asia

24. Economic Sanctions as a Tool of China’s Hybrid Strategies

Author:
Rafal Wisniewski
Publication Date:
01-2021
Content Type:
Journal Article
Journal:
Polish Political Science Yearbook
Institution:
Polish Political Science Association (PPSA)
Abstract:
The article aims to analyze the role of economic sanctions in the People’s Republic of China’s overall approach to achieving its security objectives in the international arena. During the last two decades, Beijing used this instrument on numerous occasions to exert pressure on a varied group of actors. China’s current strategy toward a range of disputes and conflicts it is engaged in (the South China Sea territorial disputes most prominently stand out) is often described using the popular vocabulary of “hybrid warfare” or “grey zone conflicts”. Putting the conceptual complications aside, the author agrees that the PRC’s approach can be viewed as part of a growing trend for great powers to employ what can be called “hybrid strategies” toward its opponents. As part of a broader category of economic statecraft, economic sanctions form an important element of this approach. Considering current scholarship on both “hybrid” (or “grey area”) warfare and economic sanctions, the article answers the question of why the PRC increasingly resorts to hybrid strategies (including economic coercion) and identifies the main characteristics of Chinese economic sanctions. It also provides preliminary conclusions on their effectiveness.
Topic:
Diplomacy, Economics, Territorial Disputes, and Sanctions
Political Geography:
China, Asia, and South China Sea

25. China's Belt and Road Initiative and Georgia: A Short Overview

Author:
Ekaterine Lomia
Publication Date:
09-2021
Content Type:
Journal Article
Journal:
Journal of Liberty and International Affairs
Institution:
Institute for Research and European Studies (IRES)
Abstract:
Since the beginning of the 2000s, China has embarked on an unprecedented path of economic development, as evidence of which is the largest economic project of the XXI century initiated by the People's Republic of China. The global Belt and Road Initiative announced by the first person of the country, Xi Jinping, is a shortened name of the ‘Silk Road Economic Belt’ and ‘XXI Century Maritime Silk Road’. It covers the Asia-Pacific, Europe, Central Asia, Southeast Asia, West Asia, and Africa and involves more than a hundred countries, international organizations, and leading economic actors. The main participants in the project are China, Mongolia, Russia, Azerbaijan, Belarus, Poland, Germany, the Netherlands, Kazakhstan, Kyrgyzstan, Pakistan, Bangladesh, Iran, and India. The article reviews the role of the Chinese project in a global context. The paper focuses on the role and purpose of Georgia in the Belt and Road Initiative. This study will try to reveal the results for the benefit of Georgia, which is one of the participating countries, and the role of China through research to be made from documents and academic studies on the subject. Georgia tries to conduct its relations with China, as a partner in the project, with a policy of balance without disturbing its relations with the West.
Topic:
Economics, Bilateral Relations, Infrastructure, Hegemony, and Belt and Road Initiative (BRI)
Political Geography:
China, Europe, Asia, and Georgia

26. Chinese Investments in Brazil: Economic Diplomacy in Bilateral Relations

Author:
Virginia Soledad Busilli and Maria Belen Jaime
Publication Date:
09-2021
Content Type:
Journal Article
Journal:
Contexto Internacional
Institution:
Institute of International Relations, Pontifical Catholic University of Rio de Janeiro
Abstract:
The People’s Republic of China has consolidated its status as a great power and strengthened its presence in different regions of the planet. In accordance with its economic development strategy, Beijing’s growing bond with Latin America is part of China’s need to guarantee access to raw materials and energy resources. In this framework and through economic diplomacy, China has strengthened its trade relations, as well as loans and investments in most of the region’s countries.Brazil is an example of this relationship pattern, as one of China’s most important partners and top investment destination in Latin America. It became Beijing’s top commercial partner in 2012. This paper will analyse the composition and evolution of Chinese foreign direct investment (FDI) in Brazil between the years of 2004 and 2020. In order to do so, we will study the main projects carried out by the country, as well as the characteristics of the Chinese companies (state or non-state) that participated in the process, in order to understand their most important features. Likewise, we will analyse the articulation of the Chinese FDI with its trade flows. We will start from the premise that Chinese investments in Brazil are directly linked to Beijing’s strategic interests, while at the same time guided by market logics that try to maximise profits. In this vein, within the framework of the ‘going out strategy’,state companies play a fundamental role.
Topic:
Diplomacy, Economics, Bilateral Relations, and Hegemony
Political Geography:
China, Asia, Brazil, and South America

27. Currency Power & International Security

Author:
Benjamin Cohen
Publication Date:
12-2021
Content Type:
Journal Article
Journal:
Fletcher Security Review
Institution:
The Fletcher School, Tufts University
Abstract:
For anyone concerned about U.S. national security, international finance today poses an intriguing dilemma. On the one hand, in geopolitical terms, the United States seems to have entered a period of relative decline. Some commentators speak of a broad power transition from unipolar hyperpuissance to a new, more threatening multipolar world. Others focus more narrowly on the rise of China and the risk of a “Thucydides Trap.”72 Yet in global finance, the U.S. dollar remains undeniably dominant, still by far the most popular national monetary unit in use for international purposes.73 The greenback is as mighty as ever. Can this disparity continue, or should we expect that geopolitical decay will be followed by—perhaps even exacerbated by—an erosion of the dollar’s standing? Much rides on the answer. An international currency is a source of power for the economy that issues it.74 For some three-quarters of a century, the greenback’s central role in monetary affairs has enhanced the political capabilities of the United States. America’s security has been amplified by currency power. At a time, therefore, when the nation is feeling increasingly vulnerable to adversaries abroad, the outlook for the dollar’s future takes on added importance. Three questions are addressed in this essay. First, how does a currency’s international standing affect the political capabilities of the issuing country? Second, how has currency power been used by the United States? And third, what are the prospects for the greenback looking forward? Much analysis suggests that the outlook for the currency is not bright.75 Some experts worry that we are approaching a tipping point that could lead to an abrupt and panicky dumping of the dollar. I disagree. No sudden rush to the exits would appear to be likely. But over time it does seem plausible to anticipate a gradual, maybe even accelerating loss of monetary primacy. The threat to the greenback—and hence to U.S. security—is not the sudden appearance of a wolf at the door. The risk, rather, is a persistent spread of termites in the woodwork.
Topic:
Economics, International Security, Geopolitics, Finance, and Currency
Political Geography:
China and United States of America

28. U.S. Trade Policy toward China: Learning the Right Lessons

Author:
Scott Lincicome
Publication Date:
01-2021
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
Labor market and cultural disruptions in the United States are real and important, as is China’s current and unfortunate turn toward illiberalism and empire. But pretending today that there was a better trade policy choice in 2000—when Congress granted China “permanent normal trade relations” (PNTR) status and paved the way for broader engagement—is misguided. It assumes too much, ignores too much, and demands too much. Worse, it could lead to truly bad governance: increasing U.S. protectionism; forgiving the real and important failures of our policymakers, CEOs, and unions over the last two decades; and preventing a political consensus for real policy solutions. Indeed, that is happening now.
Topic:
International Relations, Economics, Markets, Bilateral Relations, Trade, and Protectionism
Political Geography:
China, Asia, North America, and United States of America

29. Financial Development in Hong Kong and China: A Hayekian Perspective

Author:
Kam Hon Chu
Publication Date:
01-2021
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
In addition to foreign investment absorption, Hong Kong plays a pioneering role in the internationalization of the renminbi (RMB). Despite the lack of comprehensive statistics on the volume of offshore RMB transactions, Hong Kong is for sure one of the largest, if not the largest, global centers for offshore RMB businesses. According to the Triennial Central Bank Survey (BIS 2019), for instance, Hong Kong was the largest global offshore RMB foreign exchange market, with an average daily turnover of US$107.6 billion as of April 2019, considerably higher than the US$56.7 billion for London and the US$42.6 billion for Singapore.
Topic:
Economics, Markets, Investment, and Financial Development
Political Geography:
China, Asia, and Hong Kong

30. Promise and Peril of Digital Money in China

Author:
Martin Chorzempa
Publication Date:
06-2021
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
Digital currency and fintech have been some of the most powerful forces for freedom and personal liberty in China for the past decade, but their future influence is uncertain. Starting as a disruptive force that gave Chinese unprecedented autonomy in their financial lives, connected either to global cryptocurrency networks or local tech ecosystems built by private firms, a new chapter is beginning. In this new era, one speech urging an emphasis on innovation instead of regulation can seemingly bring the full force of the Chinese state to bear onto a firm that once disrupted state banks with impunity. Technologies like blockchain first embraced by libertarians and cryptography enthusiasts as freeing money from dependence on the state look poised to become tools for governments to increase their ability to monitor and shape financial transactions. Meanwhile, disruptive fintech tools have become symbiotic with the major state banks, which will retain their role as the core of the financial system.
Topic:
Economics, Science and Technology, Finance, Digital Currency, and Transactions
Political Geography:
China and Asia

31. From Economic to Geopolitical Policy: The Middle East on the Silk Road

Author:
Yousif Khalaf
Publication Date:
03-2021
Content Type:
Journal Article
Journal:
Nowa Polityka Wschodnia
Institution:
Faculty of Political Science and International Studies, Nicolaus Copernicus University in Toruń
Abstract:
The article aims to present and evaluate the activities and politics of the People’s Republic of China in the Middle East, and to define its objectives through the Silk Project. It will provide an overview of the most important changes in the Chinese foreign and political policy, and the importance of the Middle East, particularly the Silk Road to China, and it will try to answer the following questions: How important is the Middle East for the Silk Road? Will the Chinese project bring stability to the region in light of the fierce competition between the great powers? The article adopted the hypothesis that China’s involvement in the Middle East will deepen the conflict between the countries of the region among themselves, and thus become a fertile ground for international conflicts to the international conflict.
Topic:
Foreign Policy, Economics, Geopolitics, and Silk Road
Political Geography:
China and Middle East

32. Central Europe in the new Millennium: The new Great Game?

Author:
Šárka Waisová
Publication Date:
10-2020
Content Type:
Journal Article
Journal:
Revista UNISCI/UNISCI Journal
Institution:
Unidad de investigación sobre seguridad y cooperación (UNISCI)
Abstract:
After the fall of communism, Central Europe (CE) was a region with relatively high US interest and support. Washington supported the NATO membership of CE countries, provided financial as well as technical assistance to the region and several American high-positioned political representatives visited the region. However, during the last few years, it is evident that CE is a space where the Russian and Chinese presence and influence have been risen. The present article analyses several questions aiming to scrutinize the Russian and Chinese presence and activities in CE, particularly, when and how Russia and China penetrated into CE, what are the consequences of the rising Russian and Chinese influence and who are the supporters and opponents of Moscow and Beijing in CE. The article concludes that, the main competing actors in CE are Washington and Russia, while China profits from the US-Russia clash. While the US and Russian interests are dominat in security and political issues, China aims to penetrate CE economics.
Topic:
Security, Foreign Policy, NATO, Economics, Politics, and Influence
Political Geography:
Russia, China, Central Europe, and United States of America

33. The Functions and Problems of China’s State-Owned Economy

Author:
Wei-xiao Jia
Publication Date:
01-2020
Content Type:
Journal Article
Journal:
Polish Political Science Yearbook
Institution:
Polish Political Science Association (PPSA)
Abstract:
At the national symposium on the reform of state-owned enterprises, General Secretary Xi Jinping gave important instructions that state-owned enterprises are important forces in strengthening the country’s overall strength and safeguarding the common interests of the people. Therefore, the country must make state-owned enterprises „stronger, better, and bigger”. Huge objections arose in the academic field. This article thoroughly analyzes China’s state-owned economy from the perspective of Marx’s historical materialism, national productivity, and social development, and clarifies the historical status and role of China’s state-owned economy. At the same time, this article comprehensively analyzes the economic significance of making state-owned enterprises „stronger, better, and bigger” from the perspective of total factor productivity, and proposes that since the state-owned economy is backed up by the state, investing in technology research and development has its advantages. However, because the state-owned economy is biased toward administrative instructions, it often lacks efficiency, so if the state-owned economy wants to become „stronger, better, and bigger”, it must undergo reforms in terms of management efficiency.
Topic:
Economics, Governance, Reform, State Building, State-Owned Enterprises, and Productivity
Political Geography:
China and Asia

34. The Future of Chinese Foreign Economic Policy Will Challenge U.S. Interests, Part 1: The Belt-and-Road Initiative and the Middle Income Trap

Author:
Sagatom Saha
Publication Date:
01-2020
Content Type:
Journal Article
Journal:
China Brief
Institution:
The Jamestown Foundation
Abstract:
Chinese Communist Party (CCP) General Secretary Xi Jinping and other senior CCP leaders have prudently planned for the slowing economic growth that China now faces. CCP officials plan to transition China from its current export-led growth model to one driven by indigenous innovation, and one in which China’s rising global prominence confers to it many of the same advantages traditionally enjoyed by the United States (such as low borrowing costs and influence within international institutions). Although U.S.-China relations have become further fraught amid the trade war, many prominent China hands nevertheless assert that Beijing’s long-term economic plans do not run counter to U.S. strategic interests. [1] However, many of China’s planned foreign economic initiatives—to include the Belt and Road Initiative (BRI), global value chain advancement, and renminbi (RMB) internationalization—will come at U.S. expense. Policymakers in both Washington and Beijing should accordingly expect U.S.-China tensions to persist beyond the Trump administration. China’s need for new growth vehicles is twofold: its economic size has not translated into global influence, and its current economic model is losing steam. First, China’s transformation into the world’s second-largest economy has yet to yield equivalent influence in the international system. Beijing’s sway in the World Bank and the International Monetary Fund (IMF), for example, lag behind China’s status as the largest trade partner and foreign investor for much of the world. The United States, by contrast, has leveraged its economic status to maintain effective control of the Bretton-Woods institutions, to obtain low borrowing costs, and to exercise punishing sanctions programs against unfriendly governments. Second, Chinese growth has seen a secular decline over the last decade (see figure 1). The official projected GDP growth rate for 2020 is 6.1 percent (Xinhua, November 30, 2019), but some Chinese officials have hinted that they expect lower sub-6 percent growth in 2020 (South China Morning Post, November 14, 2019). This is a noteworthy signal, for CCP discourse has previously identified the benchmark of 6 percent GDP growth as necessary to avoid social unrest (China Brief, March 22, 2019).
Topic:
Foreign Policy, Economics, International Cooperation, International Trade and Finance, Hegemony, Conflict, and Rivalry
Political Geography:
China, Middle East, Asia, North America, and United States of America

35. The Future of Chinese Foreign Economic Policy Will Challenge U.S. Interests, Part 2: Renminbi Internationalization and International Economic Institutions

Author:
Sagatom Saha
Publication Date:
02-2020
Content Type:
Journal Article
Journal:
China Brief
Institution:
The Jamestown Foundation
Abstract:
Complications surrounding the Belt and Road Initiative (BRI), and the dangers of the “middle-income trap,” are not the only factors impacting the international economic policies of the People’s Republic of China (PRC). Furthermore, poor capital efficiency is not the only feature of the Chinese economy that frustrates the country’s policymakers. China’s gross domestic product (GDP) has roughly doubled in the last decade, but Beijing’s pull in the international monetary and financial system remains lackluster. This lack of progress stems in part from the dollar’s centrality around the world, as well as U.S. dominance in international economic institutions. Beijing’s economic planners have long advocated against the dollar while attempting to increase the global role of the PRC’s own renminbi (RMB) currency. While past efforts stumbled, RMB internationalization and increased Chinese influence will directly confront U.S. economic and geopolitical interests.
Topic:
Economics, International Cooperation, International Trade and Finance, Hegemony, Conflict, and Rivalry
Political Geography:
China, Asia, North America, and United States of America

36. China’s Other Viral Crisis: African Swine Fever and the State Effort to Stabilize Pork Prices

Author:
John Dotson
Publication Date:
03-2020
Content Type:
Journal Article
Journal:
China Brief
Institution:
The Jamestown Foundation
Abstract:
Since January, much of the international news coverage surrounding the People’s Republic of China (PRC) has been dominated by the story of the COVID-19 outbreak—a previously unknown coronavirus that first manifested in the central Chinese city of Wuhan in early December, and which has since rapidly proliferated throughout China and many other countries throughout the world (China Brief, January 29; Johns-Hopkins University, ongoing). The COVID-19 pandemic has largely crowded out international attention to another viral outbreak that Chinese authorities and farmers have been battling for eighteen months: African Swine Fever (非洲猪瘟, Feizhou Zhuwen), which throughout 2018 and 2019 devastated pig populations in both the PRC and surrounding countries. The virus has caused major disruptions to both supplies and the cost of pork, the primary staple meat in Chinese society. As such, it has had a significant impact on the Chinese economy, and has also given senior officials of the ruling Chinese Communist Party (CCP) reason to fear the potential impacts on “social stability” (社会稳定, shehui wending)—the CCP’s perennial overriding domestic concern.
Topic:
Economics, Food Security, Pandemic, COVID-19, and Animals
Political Geography:
China and Asia

37. The China-Myanmar Economic Corridor: Delays Ahead

Author:
Sudha Ramachandran
Publication Date:
04-2020
Content Type:
Journal Article
Journal:
China Brief
Institution:
The Jamestown Foundation
Abstract:
Although no new deals were struck during People’s Republic of China (PRC) President Xi Jinping’s trip to Myanmar on January 17 and 18, the visit was significant for several reasons. The visit was the first by a PRC president to Myanmar in 19 years, and the first by Xi to this country in his role as president. The visit was widely touted as marking the 70th anniversary of the establishment of relations between the PRC and Myanmar. However, Xi’s first trip abroad this year was aimed at expediting implementation of the China-Myanmar Economic Corridor (CMEC), a key component of China’s Belt and Road Initiative (BRI) (CGTN, January 17). During the visit, the two governments signed 33 agreements, memorandums of understanding, protocols and letters of exchange relating to railways, industrial and power projects, and trade. Several of these agreements firm up Myanmar’s commitment to the CMEC’s three central components: the Kyaukphyu Special Economic Zone (SEZ), which includes a deep-sea port, an industrial park and other projects; the China-Myanmar Border Economic Cooperation Zone; and an urban development plan for Yangon (The Irrawaddy, January 18). However, just weeks after Xi’s visit saw the two sides take steps to expedite CMEC projects, Beijing’s plans have run into new problems. CMEC projects are running late, and in an op-ed piece published on the eve of his Myanmar visit, Xi stressed the need for CMEC projects to be moved from “the conceptual stage to concrete planning and implementation” (New Light of Myanmar, January 16). The coronavirus pandemic has emerged as the latest challenge in the long list of obstacles that have slowed CMEC projects over the years. According to Khriezo Yhome, a New Delhi-based analyst of developments in Myanmar, it “may be too early to assess the impact of the coronavirus crisis on CMEC projects,” given that the pandemic is still only at an “initial phase” in Myanmar; however, there is “no doubt” that it “will slow down the implementation of CMEC projects in the short-term.” [1]
Topic:
Diplomacy, Economics, International Cooperation, International Trade and Finance, and Bilateral Relations
Political Geography:
China, Asia, Burma, and Myanmar

38. The U.S.-China Trade War: Is There an End in Sight?

Author:
Simon Lester and Huan Zhu
Publication Date:
01-2020
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
Donald Trump was a trade “hawk” long before he became president. In the late 1980s, he went on the Oprah Winfrey show and complained about Japan “beating the hell out of this country” on trade (Real Clear Politics 2019). As president, he has continued with the same rhetoric, using it against a wide range of U.S. trading partners, and he has followed it up with action (often in the form of tariffs). While many countries have found themselves threatened by Trump’s aggressive trade policy, his main focus has been China. As a result, the United States and China have been engaged in an escalating tariff, trade, and national security conflict since July 2018, when the first set of U.S. tariffs on China went into effect and China retaliated with tariffs of its own. In this article, we explore the U.S.-China economic conflict, from its origins to the trade war as it stands today. We then offer our thoughts on where this conflict is heading and when it might end.
Topic:
Economics, International Trade and Finance, Tariffs, Trade Wars, and Donald Trump
Political Geography:
China, Asia, North America, and United States of America

39. THE BRICS COUNTRIES’ MONETARY AND FINANCIAL POWER: WHAT HAS CHANGED SINCE THE 2008 GLOBAL FINANCIAL CRISIS AND WHY IT MATTERS

Author:
Luiza Peruffo
Publication Date:
01-2020
Content Type:
Journal Article
Journal:
Conjuntura Austral: Journal of the Global South
Institution:
Conjuntura Austral: Journal of the Global South
Abstract:
The grouping of the BRICS countries is controversial in several ways. First, because its origins do not have a political foundation: Brazil, Russia, India and China were first put together as an acronym created in the financial market (O’NEILL, 2001) and this was eventually transposed onto the political world. The group’s advocates have argued that the geopolitical initiative that followed made sense because it brought together countries of continental proportions, large economies, with huge domestic markets –an argument that falls apart with the inclusion of South Africa in 2010. In addition, there is the issue of the disproportionate economic power between China and the other members of the bloc. Moreover, many argue that there are few common interests between the economies, which have such diverse productive structures, and therefore it would be unlikely that they could form a cohesive group (see STUENKEL, 2013, pp. 620-621 for a review of criticisms of the group).
Topic:
Economics, International Political Economy, Global Financial Crisis, and Economic Cooperation
Political Geography:
Russia, China, India, South Africa, and Brazil

40. Participation of Kazakhstan in the Chinese “One Belt, One Road” Initiative: Advantages, Problems and Prospects

Author:
Saltanat Kuzembayeva
Publication Date:
12-2020
Content Type:
Journal Article
Journal:
Nowa Polityka Wschodnia
Institution:
Faculty of Political Science and International Studies, Nicolaus Copernicus University in Toruń
Abstract:
The article is devoted to the geoeconomic goals and prospects of implementing the Chinese initiative „One Belt, One Road”. The author explores the benefits, problems and future opportunities that open up to the Republic of Kazakhstan as a participant in this initiative. The analysis carried out in the article showed that there are still many problems in the implementation of the Silk Road Economic Belt (SREB) project taking into account the state program of Kazakhstan “Nurly Zhol”, and difficulties arise in the practical implementation of various cooperation areas. At the same time, Kazakhstan should be guided exclusively by its national interests in cooperation with China in the framework of the “One Belt, One Way” initiative.
Topic:
Economics, Geopolitics, Soft Power, and Belt and Road Initiative (BRI)
Political Geography:
China, Central Asia, Eurasia, Kazakhstan, and Asia