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32. Geo-Economic Impact of COVID-19 on the Maritime Sector in Malaysia
- Author:
- Sumathy Permal and Norsyihan Jamal
- Publication Date:
- 04-2020
- Content Type:
- Working Paper
- Institution:
- Maritime Institute of Malaysia
- Abstract:
- The cascading effect of the novel coronavirus (Covid-19) that originated in Wuhan, China, is producing widespread reverberations around the globe and impacting almost every facet of life as we know it today. This article discusses the impact of Covid-19 on the geo-economics and maritime sector of Malaysia. A study by McKinsey states that the pandemic is expected to peak in the US and Europe in May 2020 and, as such, its full-fledged impact has not yet been felt. The pandemic has a corresponding effect on the global economy, which is expected to suffer major declines in consumption and production throughout the year. The global supply chain has been hard-hit with dire consequences for international trade and the shipping industry.
- Topic:
- Economics, International Trade and Finance, Maritime, Pandemic, COVID-19, and Supply Chains
- Political Geography:
- Malaysia and Asia
33. Toward a Robust Architecture for the Regulation of Data and Digital Trade
- Author:
- Dan Ciuriak and Maria Piashkina
- Publication Date:
- 04-2020
- Content Type:
- Working Paper
- Institution:
- Centre for International Governance Innovation
- Abstract:
- The rapid digital transformation occurring worldwide poses significant challenges for policy makers working within a governance framework that evolved over centuries. Domestic policy space needs to be redefined for the digital age, and the interface with international trade governance recalibrated. In this paper, Dan Ciuriak and Maria Ptashkina organize the issues facing policy makers under the broad pillars of “economic value capture,” “sovereignty” in public choice and “national security,” and outline a conceptual framework with which policy makers can start to think about a coherent integration of the many reform efforts now under way, considering how policies adopted in these areas can be reconciled with commitments under a multilateral framework adapted for the digital age.
- Topic:
- International Trade and Finance, Reform, Digital Economy, Multilateralism, and Digitization
- Political Geography:
- United States, China, Europe, Asia, and North America
34. The cross-border impacts of China’s official rate shocks on stock returns of Chinese concepts shares listed on U.S. market
- Author:
- Dong Weijia
- Publication Date:
- 02-2020
- Content Type:
- Working Paper
- Abstract:
- This paper examines a new cross-border effect of an emerging country’s interest rate changes on the stock returns of its domestic firms listed overseas. First, we discover that the increase in China’s official interest rate greatly affects the NYSE-listed Chinese stocks, thereby suggesting that similar to Chinese domestic investors, the institutional investors in a mature market sometimes exhibit irrational sentiment driven by an emerging economy’s unexpected monetary policy shocks. Second, we highlight some novel asymmetric impacts of China’s official rate changes on Chinese concepts stock prices and reveal that these effects differ from the conventional nonlinear effects of monetary policies. For instance, a bull and bear regime has no statistically significant asymmetric effect on NYSE, whereas interest rate rise has different cross-border impact on Nasdaq and NYSE markets. These interesting findings are mainly driven by the smart investors in the U.S. stock market who are knowledgeable about the differences between NYSE- and Nasdaq-listed stocks and carefully analyze the different impacts of China’s official interest rate changes on the fundamentals of different types of Chinese concepts stocks.
- Topic:
- International Trade and Finance, Bilateral Relations, and Investment
- Political Geography:
- China, Asia, North America, and United States of America
35. Cooperation in Trade in Services
- Author:
- Akshay Mathur and Purvaja Modak
- Publication Date:
- 06-2020
- Content Type:
- Working Paper
- Institution:
- Centre for International Governance Innovation
- Abstract:
- Over the past decade, there has been a shift in global trade from trade in goods to trade in services. Unlike goods, services are intangible and consumed by the user directly, without intermediate supervision. Thus, the only way to ensure the quality of a service is to enforce standards on the service provider. This is the responsibility of domestic sector-specific regulatory institutions established by the government. This paper examines the current state of services trade in India and Canada, considers India’s services trade with Canada and outlines a number of measures the countries could take to support services trade.
- Topic:
- International Cooperation, International Trade and Finance, Services, and Trade Policy
- Political Geography:
- Canada, India, Asia, and North America
36. Fostering Growth in Digital Trade through Bilateral Cooperation in the Development of Trade Rules
- Author:
- Don Stephenson
- Publication Date:
- 06-2020
- Content Type:
- Working Paper
- Institution:
- Centre for International Governance Innovation
- Abstract:
- Like foreign policy, trade policy is the outward expression of domestic policy — both economic and social — and trade negotiations are to advance the national interest. Both India and Canada have important commercial interests in digital trade and both have counterbalancing social policy concerns, but they have important differences as well. Their equitable participation in digital trade must overcome an imbalanced competitive landscape through measures to facilitate access to technology and infrastructure, financing, and training in digital technology literacy and data-based business models. As yet, there is no international consensus on how trade rules should be adapted to foster digital trade. Consistent with the Track 1.5 Dialogue objectives, this paper calls on Canada and India to partner and lead in advancing the digital trade agenda. It recommends creating a bilateral process to identify common causes and areas for collaboration; convening a business-to-business conversation supported with research and analysis; and focusing on the impact of digital technology, looking at not only electronic commerce but also trade in traditional service sectors.
- Topic:
- International Cooperation, International Trade and Finance, Digital Economy, and Trade Policy
- Political Geography:
- Canada, India, Asia, and North America
37. India-Canada Energy Cooperation
- Author:
- Amit Bhandari
- Publication Date:
- 07-2020
- Content Type:
- Working Paper
- Institution:
- Centre for International Governance Innovation
- Abstract:
- The energy sectors of India and Canada complement each other: India is a large and growing oil importer, while Canada is a large and growing exporter of oil and gas. However, as they invested in oil fields across the world, Indian oil companies have missed out on the Canada story. Investing in Canada’s oil sector can help India guard against the risk of spikes in oil prices and provide Canada with long-term demand security. In this paper, first presented as a backgrounder at Track 1.5 meetings in Mumbai, India, in November 2019, Gateway House outlines its findings on the feasibility of Indian investment in Canada’s petroleum sector, suggesting a path forward and best prospects for investment.
- Topic:
- Energy Policy, International Trade and Finance, Oil, Gas, and Investment
- Political Geography:
- Canada, India, Asia, and North America
38. Implications of the Proposed China-Iran deal for India
- Author:
- Sruthi V.S.
- Publication Date:
- 08-2020
- Content Type:
- Working Paper
- Institution:
- Council on International Policy (CIP)
- Abstract:
- The ambitious $400 billion deal between China and Iran has garnered worldwide attention. The 18-page draft proposal says that China will facilitate the infusion of about $280 billion to Iran. This major economic and security partnership between China and Iran has raised India’s concerns against the backdrop of its ongoing border conflict with China. According to the New York Times report, the proposed China-Iran deal talks about expanding China’s presence in Iran’s “banking, telecommunications, ports, railways and dozens of other projects”, and in return China will receive a steady supply of oil from Iran for the next 25 years at a discounted price. There are more than 100 projects listed in the draft that will see Chinese investments; these include building Free Trade Zones and several very significant ports. The Chinese will also help Iran build infrastructure for 5G networks and come up with an internet filter like the Great Firewall in China. The stronghold of China in Iran could also result in undermining US policy in the Middle East.
- Topic:
- International Relations, Diplomacy, International Trade and Finance, and Conflict
- Political Geography:
- China, Iran, Middle East, India, and Asia
39. 11th U.S.-China High-Level Political Party Leaders Dialogue
- Author:
- Joshua Cavanaugh
- Publication Date:
- 06-2020
- Content Type:
- Working Paper
- Institution:
- EastWest Institute
- Abstract:
- A select delegation of leaders from the U.S. Democratic and Republican Parties and the global business community traveled to Beijing, China to meet with senior officials from the Communist Party of China (CPC) on November 18-21, 2019. The discussions were part of the 11th U.S.-China High-Level Political Party Leaders Dialogue organized by the EastWest Institute (EWI) in partnership with the International Department of the Central Committee of the Communist Party of China (IDCPC). Launched in 2010, the U.S.-China High-Level Political Party Leaders Dialogue seeks to build understanding and trust between political elites from the U.S. and China through candid exchanges of views on topics ranging from local governance to foreign policy concerns. The dialogue process consistently involves sitting officers from the CPC and the U.S. Democratic and Republican National Committees. In the 11th iteration of the dialogue, the CPC delegation was led by Song Tao, minister of IDCPC. Gary Locke, former secretary of the United States Department of Commerce, former governor for the state of Washington and former United States Ambassador of China; and Alphonso Jackson, former secretary of the United States Department of Housing and Urban Development; lead the U.S. Democratic and Republican delegations, respectively. Throughout the dialogue, members of both delegations spoke freely on relevant topics including foriegn policy trends, trade disputes and emerging areas of economic cooperation. EWI facilitated a series of meetings for the U.S. delegation, which included a productive meeting with Wang Qishan, vice president of the People’s Republic of China at the Great Hall of the People. The delegates also met with Yang Jiechi, director of the Office of the Central Commission for Foreign Affairs; Dai Bingguo, former state councilor of the People’s Republic of China; and Lu Kang, director of the Department of North American and Oceanian Affairs at the Ministry of Foreign Affairs. The U.S. delegates visited the Asian Infrastructure Investment Bank and met with their president, Jin Liqun, as well as the Schwarzman College at Tsinghua University to engage prominent scholars on the future of the U.S.-China relationship.
- Topic:
- Foreign Policy, Diplomacy, International Trade and Finance, and Economic Cooperation
- Political Geography:
- United States, China, Asia, and North America
40. Shifts in Global Sanctions Policy, and What They Mean for the Future
- Author:
- Richard Nephew
- Publication Date:
- 11-2020
- Content Type:
- Working Paper
- Institution:
- Center on Global Energy Policy (CGEP), Columbia University
- Abstract:
- The last four years have borne witness to a range of new sanctions, policies, and approaches around the world. Some of these were predicted in November 2016, as Donald Trump took to sanctions far more than his predecessors, using them to tackle virtually every foreign policy problem he encountered. In fact, Trump’s use of sanctions transcended their typical usage in both form and content, as he employed tariffs and other more traditional “trade” tools to try to manage a bevy of nontrade problems. The long-term effects of this decision have yet to be felt or properly understood. It may be that Trump was ahead of the curve in seeing the fracturing of the global liberal economic order and employed the US economy for strategic advantage while it was still ahead. It may also be that Trump undermined the US position in the global economy through his policies, if not actually hastened the demise of this system of managing global economics. Time and the evolution of policy in other global power centers will eventually tell. The shifting approach to sanctions policy by a variety of other states is a manifestation of the potential effects of Trump’s policy choices in using US economic power. From the EU to Russia to China, other countries have changed long-standing policy approaches as they relate to sanctions, either to respond to or perhaps to take advantage of the new paths forged by the United States. The actions that they have taken are not “unprecedented” per se, as each of these countries or organizations has—at times—embraced policies that are consistent with some of these current actions. But, in aggregate, they describe an overall shift in how the world treats sanctions and trade policy, particularly that as practiced by the United States.
- Topic:
- Diplomacy, International Cooperation, International Trade and Finance, and Sanctions
- Political Geography:
- China, Europe, Asia, North America, and United States of America