The Saudi government has begun an ambitious process of economic reforms, but internal resistance and external disturbances – worsened by the Gulf crisis – are increasing costs and may lead to its failure.
Although we are only into the first months of the Trump administration, many Koreans
recognize that the U.S.-led, market-oriented, liberal international order has been severely
shaken. In the background, the rapid rise of China and rather successful economic reforms
under Xi Jinping have dramatically reduced its vulnerability and sensitivity to the United
States. As one power’s grip is shaken and another’s is energized, two different orders are
emerging in East Asia. We accordingly witness a “Clash of Titans,” the fallout from which
could be fatal to the security and economy of the Republic of Korea.
Topic:
International Political Economy and International Affairs
Although often overshadowed by significantly larger energy systems in India and China, Indonesia is assuming an increasingly important role in international energy markets and global efforts to address climate change. In Transforming the Power Sector in Developing Countries: Indonesia’s Diversification Challenge,” Global Energy Center nonresident Senior Fellow Dr. Robert F. Ichord, Jr. identifies the challenges Indonesia faces in the energy sector and provides recommendations for policy makers and other stakeholders on strategic priorities. As Ichord points out, Indonesia is a critical country for international power sector transformation—the question is how to meet Indonesia’s growing electricity needs in a clean, efficient, and affordable manner.
China's global influence is on the rise. In Latin America, Chinese firms are not only increasing their investment, but rapidly expanding to new areas of the economy. To explore the implications for all stakeholders in the region, the Atlantic Council, in partnership with the OECD, launched on June 26 a revealing study analyzing data not previously available to the public. New numbers show dramatic rises in FDI from China in Latin America—beyond oil and mining, China is today focusing on ICT, electricity, finance, and alternative energy.
In The Euro’s Difficult Future – Competitiveness Imbalances and the Eurozone’s North-South Divide author Luigi Bonatti, a professor of economics at the University of Trento in Italy, stresses that the existing North-South competitiveness divide creates growing tensions between member countries and fuels hostility towards European Union institutions. The paper illustrates why this competitiveness divide is structural, cannot be tackled by macroeconomic policies, and could threaten the euro’s survival.
There is an inverse relationship between the number of kilometres François-Philippe Champagne travels and the amount of attention he receives. Canada’s trade minister was in Morocco over the Canadian Thanksgiving weekend for a World Trade Organization (WTO) meeting, and in Mexico less than a week later for Prime Minister Justin Trudeau’s first official visit to the country.
Topic:
International Political Economy and International Trade and Finance
Trade agreements contain an increasing number of environmental provisions. Some of these provisions now relate to precise environmental issues, such as biodiversity or hazardous waste management. Certain trade agreements even devote entire chapters to environmental protection. However, the rate of innovative environmental clauses per agreement has declined over the years. This paper draws attention to some of the lesser-known provisions encountered in five agreements or fewer. These “legal one-hit wonders” do not often reach the billboard, despite their uniqueness and creativity.
Blue Economy Vision 2025: Harnessing Business Potential for India Inc and International Partners is a pioneering effort by FICCI to sensitise India Inc about the growing global and regional emphasis on sustainability of harnessing the ocean resources. It makes a convincing argument that the oceans, with a current estimated asset value of US$ 24 trillion and an annual value addition of US$ 2.5 trillion, would continue to offer significant economic benefits both in the traditional areas of fisheries, transport, tourism and hydrocarbons as well as in the new fields of deep-sea mining, renewable energy, ocean biotechnology and many more, only if we integrate sustainable practices with our business models.
SETA Foundation for Political, Economic and Social Research
Abstract:
When Islamic finance is mentioned around the world, the first thing that comes to mind is Islamic banks. The sphere of Islamic finance has expanded in the last decade with developments particularly in capital markets and the insurance sector. Nonetheless, the market share of Islamic finance in the world’s financial market accounts for approximately 1 percent. Still, many segments are interested in Islamic finance because of its high growth figures, resilience against crises, and the fact that it offers a system that prioritizes ethical values in contrast to conventional finance. Islamic banks in Turkey date back to the establishment of the Adapazarı Islamic Trade Bank (Adapazarı İslam Ticaret Bankası) in Sakarya (Adapazarı) in 1913. However, examples of globally accepted Islamic banking models in Turkey appeared with the emergence of Special Finance Houses (SFHs) following the passage of relevant legal regulations in 1984
Topic:
International Political Economy and International Affairs