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32. The West must allow a power shift in international organizations
- Author:
- Jakob Vestergaard and Robert Hunter Wade
- Publication Date:
- 12-2013
- Content Type:
- Policy Brief
- Institution:
- Danish Institute for International Studies (DIIS)
- Abstract:
- More than three years after the International Monetary Fund (IMF)'s governing body agreed to reform the organization's governance so as to better reflect the increasing economic weight of dynamic emerging market economies in the world economy, only microscopic changes have been made. Emerging market and developing countries (EMDCs) have become increasingly frustrated with Western states for clinging to their inherited power, in the IMF and other important international economic governance organizations. The emerging cooperation among the BRICS (Brazil, Russia, India, China, South Africa) – as seen in the advanced-stage negotiations to establish a Development Bank and a Contingent Reserve Arrangement – sends a “wake up and smell the coffee” call to the West, and the latter will carry a heavy responsibility for eroding global multilateral governance if it continues to drag its heels on the needed adjustments.
- Topic:
- Development, Economics, Emerging Markets, International Monetary Fund, Governance, and Reform
- Political Geography:
- Russia, China, India, South Africa, and Brazil
33. Go out and manufacture: Policy support for Chinese FDI in Africa
- Author:
- Nikia Clarke
- Publication Date:
- 11-2013
- Content Type:
- Policy Brief
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- Energy investments and infrastructure contracts remain prominent in China's Africa engagement. However, investment in manufacturing makes up a significant proportion of Chinese outward foreign direct investment (FDI). Its characteristics–large numbers of smaller transactions by privately owned small and medium-sized firms–make these flows difficult to assess or control. However, China and African governments have an interest in effectively channeling this type of FDI.
- Topic:
- Development, Economics, Industrial Policy, International Trade and Finance, Markets, and Foreign Direct Investment
- Political Geography:
- Africa and China
34. Three challenges for China's outward FDI policy
- Author:
- Karl P. Sauvant
- Publication Date:
- 10-2013
- Content Type:
- Policy Brief
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- Since China adopted its "going out" policy in 2001, her outward foreign direct investment (OFDI) flows have grown rapidly, reaching US$84 billion in 2012 (although the stock remains small). That year, China was the world's third largest outward investor (after the US and Japan). This performance raises all sorts of issues, especially because state-owned enterprises (SOEs) control some three-quarters of the country's OFDI stock. Three challenges are addressed in this Perspective.
- Topic:
- Development, Economics, Emerging Markets, and Foreign Direct Investment
- Political Geography:
- United States, Japan, and China
35. The Impact of China‐Africa Investment Relations: The Case of Madagascar
- Author:
- Jean Razafindravonona, Eric Rakotomanana, and Jimmy Rajaobelina
- Publication Date:
- 07-2013
- Content Type:
- Policy Brief
- Institution:
- African Economic Research Consortium (AERC)
- Abstract:
- The rapid and spectacular expansion of the Chinese economy in the recent past is, for African countries, an opportunity to take advantage of not only in terms of strengthening the South-South cooperation, but also of developing African economies. It is thus important to define the channels through which African countries would do so. It is with this goal in mind that the African Economic Research Consortium (AERC) initiated the research project on the impact of the economic relation between China and sub-Saharan African countries.
- Topic:
- Development, Economics, International Political Economy, International Trade and Finance, Foreign Direct Investment, Global Political Economy, and Macroeconomics
- Political Geography:
- Africa, China, Asia, and Madagascar
36. Starting anew in international investment law
- Author:
- M Sornarajah
- Publication Date:
- 07-2012
- Content Type:
- Policy Brief
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- The legitimacy of investment arbitration becomes increasingly questioned, with liberal states like Australia moving away from the regime. Defenders seek to ensure the survival of this regime of asymmetric investment protection, using a variety of techniques. The conservation of the gains of property protection has resulted in novel arguments relating to the existence of a global administrative law and standards of global governance. These arguments seek to preserve an approach associated with the failure of market fundamentalism and global economic crises. As long as the inequity contained in regulatory restraints of the system affected only the powerless states, it operated with vigor; but with powerful states feeling the effects of regulatory restraints of investment treaties, there has been movement away from the earlier premises of the established regime.
- Topic:
- Development, Economics, Emerging Markets, and International Trade and Finance
- Political Geography:
- China, India, and Australia
37. Canada-US Arctic Marine Corridors and Resource Development
- Author:
- James Manicom, John Higginbotham, and Andrea Charron
- Publication Date:
- 11-2012
- Content Type:
- Policy Brief
- Institution:
- Centre for International Governance Innovation
- Abstract:
- The shrinking Arctic ice cap is creating unprecedented geophysical change in the circumpolar region, a trend that is very likely to continue. Together, this “great melt” and the delineation of extended national economic zones afford increased access to economic resources in the Arctic Ocean. Intense activities in commercial, investment, diplomatic, legal, scientific and academic sectors abound in the new Arctic, but the region's long-term significance is only gradually penetrating North American public consciousness. Media reports such as the recent, virtually ice-free trans-polar transit of a Chinese icebreaker through the Russian Northern Sea Route, or the transit of the Northwest Passage by a large cruise ship, are only the tip of the proverbial economic iceberg. In preparing for the commercialization of the Arctic Ocean, Canada and the United States, as major nations bordering the Arctic, face enormous opportunities in protecting economic and environmental interests; however, a number of challenges impede the fulfillment of this vision.
- Topic:
- Climate Change, Development, Economics, Environment, Oil, Natural Resources, and Infrastructure
- Political Geography:
- Russia, United States, China, Canada, and North America
38. South China Sea: Core Interest Extraordinaire
- Author:
- Martin A Sebastian
- Publication Date:
- 07-2012
- Content Type:
- Policy Brief
- Institution:
- Maritime Institute of Malaysia
- Abstract:
- China's powerful Central Military Commission has approved the formal establishment of a military garrison for the disputed South China Sea, the state media has announced, a move which could further boost tensions in already fractious region. This news comes after China established the city of Sansha, on 21 June as a rhetoric to Vietnam's Maritime Law announcement on the same day. Vietnam's Maritime Law which reportedly takes effect early 2013, forms a legal framework to serve the utilisation, management and protection of Vietnam's sea and islands, including the Paracels and Spratlys, as well as the development of sea-borne economy, so as to facilitate it's international integration and boost cooperation with other countries.
- Topic:
- Development, International Law, International Trade and Finance, Maritime Commerce, and Territorial Disputes
- Political Geography:
- China
39. Cooperating with China in Africa
- Publication Date:
- 02-2012
- Content Type:
- Policy Brief
- Institution:
- Danish Institute for International Studies (DIIS)
- Abstract:
- OECD donors, international organisations and non-governmental organisations are increasingly cooperating with China in Africa. This policy brief offers recommendations for policy-makers on how to lay the groundwork for such cooperation. It also stresses that the involvement of African partners is critical in fully realizing the benefits such cooperation can provide for sustainable development.
- Topic:
- Foreign Policy, Development, Diplomacy, Economics, Foreign Aid, and Foreign Direct Investment
- Political Geography:
- Africa and China
40. The unbalanced dragon: China's uneven provincial and regional FDI performance
- Author:
- Karl P. Sauvant, Chen Zhao, and Xiaoying Huo
- Publication Date:
- 03-2012
- Content Type:
- Policy Brief
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- Among developing countries, China attracts most foreign direct investment (FDI). Where is this investment located within China, what explains its distribution and what are policy implications? We used UNCTAD's FDI Performance Index to answer the first question. Although developed for countries , it can be applied to sub-national units. It uses provincial GDP to ascertain whether a given territorial unit has received FDI inflows as expected from its economic size. Standardizing the data accordingly reveals three clusters of provinces for 2007-2010 (table 1, figure 1 below): The first cluster encompasses virtually all coastal provinces: they have an index value above 1, i.e. perform better than their economic size would lead one to expect. They account for 9 of the top 11 performers of Mainland China's 31 provinces, municipalities and autonomous regions (“provinces”). The provinces in the middle cluster underperform (index value of 1-0.5). They include 5 central provinces, but also 3 western and 2 coastal provinces. The provinces in the bottom cluster underperform significantly (index value below 0.5), comprising primarily the country's western provinces (8 out of the 10 provinces in this cluster).
- Topic:
- Development, Economics, International Trade and Finance, Markets, and Foreign Direct Investment
- Political Geography:
- China