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1691. The Eight Manifestations of GNH: Multiple Meanings of a Development Alternative

Author:
Ritu Verma
Publication Date:
05-2020
Content Type:
Journal Article
Journal:
Journal of Bhutan Studies
Institution:
Centre for Bhutan & GNH Studies (CBS)
Abstract:
Despite growing recognition that GDP measures everything except deeper and meaningful aspects of life, conventional development approaches continue to centrally measure poverty, implement policy and operationalize practice in narrow economic and technical terms, without adequate attention paid to the holistic and interconnected nature of development as lived and experienced by those intended as its beneficiaries. The Royal Kingdom of Bhutan represents a rare context for the study and operationalization of a living development alternative that challenges GDP-metrics. The nation is best known for the articulation and practice of an innovative alternative and sustainable development path, exemplified in Gross National Happiness (GNH). In the contemporary context, it continues to be at the forefront of developing and advancing GNH as a unique and holistic development approach that values happiness and wellbeing of people and sentient beings. However, GNH is prone to popular misunderstandings of its concept, principles and manifestations within Bhutan, and subject to superficial and problematic scholarly analysis, hurried comprehension and limited due diligence in the international context. This paper makes a modest but concerted effort to respond to the dilemmas and challenges of understanding facing GNH by exploring its epistemological and historical foundations, and disentangling multiple meanings manifested in eight different forms. In doing so, it aims to contribute greater clarity to a growing body of multifarious writings on the subject, and more specifically, to an emerging body of scholarly literature on GNH by shedding explanatory light to the way it is conceptualized, operationalized, practiced, understood, internalized, and continuously undergoing change as it is refined and deepened over time.
Topic:
Development, Economy, Sustainability, and Gross National Happiness (GNH)
Political Geography:
South Asia and Bhutan

1692. Prospects of a Hydrogen Economy with Chinese Characteristics

Author:
Kevin Tu
Publication Date:
10-2020
Content Type:
Special Report
Institution:
Institut français des relations internationales (IFRI)
Abstract:
This study assesses the prospects of a hydrogen economy with Chinese characteristics. Against the backdrop of an escalating US-China trade war and the ongoing novel coronavirus (COVID-19) pandemic, key Chinese stakeholders become increasingly interested in moving the hydrogen economy agenda forward. During the first six months of 2020 alone, 37 policies in support of the hydrogen economy have been published by various level governments, including 7 by central government authorities, and 30 by local governments. Shandong alone issued 6 hydrogen supporting policies, followed with 5 by Guangdong. In sum, hydrogen economy development not only gains traction in China, but also is in great danger of overheating. The ambition in China is to expand hydrogen production and create new end-uses: in the transport segment (e.g. 1 million fuel cell electric vehicles – FCEVs – and 1,000 hydrogen refueling stations by 2030), but possibly also, in other hard-to-abate sectors such as steel and cement manufacturing or in the electricity storage segment (Power to X). Hydrogen production from low carbon electricity could bring many benefits, notably to address curtailments of renewable electricity from wind, solar and hydro. It could also be blended into the nation-wide gas grid especially for low-concentration hydrogen (e.g. 5-10%). Until recently, China’s interest in developing the hydrogen economy has not been primarily triggered by the decarbonization objective. Nevertheless, on September 22, 2020, Chinese president Xi Jinping announced that China aims to peak national carbon emissions before 2030 and achieve carbon neutrality before 2060. Given the significant amount of carbon emissions reduction implied by the above announcement, hydrogen is now expected to play a much more important role to drastically decrease the country’s greenhouse gas emissions (GHG) over time. China’s very large hydrogen production from fossil fuels, mainly coal, would make it quite challenging to consider decarbonizing the current uses of hydrogen. What decisively drives the current interest into hydrogen is innovation and technological leadership on the one hand, which China can achieve through industrial clusters and economies of scale, and energy security on the other: reducing dependence on imported oil and gas, with rising importance of air pollution control- and decarbonization-related considerations. It remains to be seen whether China can avoid the shortcomings of its electric vehicles (EV) supporting policies as it aims to boost a hydrogen economy with Chinese characteristics. A simplified SWOT analysis presented in the report identifies the most important strength, weakness, opportunity and threat for hydrogen economy development in China: Strength - ability to significantly bring down unit manufacturing cost through industrial network clustering and economy of scale. Weakness – lag far behind advanced economies in key hydrogen-related technologies. Opportunity – enthusiasm on hydrogen economy by local governments against the backdrop of the COVID-19 pandemic. Threat - looming danger of global supply chain decoupling caused by an escalating US-China trade war. In order to move the hydrogen economy agenda forward, a preliminary “to do list” for Chinese decision-makers in this field would include: A coordinated national mechanism should be established at the central government level to lay out principles for moving the hydrogen economy agenda forward in China. Comprehensive and transparent statistical reporting and accounting throughout the Chinese hydrogen value chain should be established. In the hydrogen production segment, renewable hydrogen should be prioritized for intensive Research and Development (R&D) and deployment in the near future, and greening China's existing hydrogen flow should be on the Chinese government's policy radar especially in the longer term. In the hydrogen storage and transport segment, national and local government should continuously direct subsidies towards hydrogen refueling stations, and also consider to encourage low concentration blending of hydrogen into China’s natural gas network. In the hydrogen consumption segment, China should selectively focus on R&D and deployment of advanced hydrogen end-use technologies notably for cement and steel, ideally coupled with expansion of the horizon of national energy planning framework. Opening up the Chinese market to better integrate technology innovations in advanced economies and manufacturing-related competitive advantages of the Chinese economy, aiming to create a win-win situation between China and the international community.
Topic:
Climate Change, Economy, Decarbonization, and Hydrogen
Political Geography:
China and Asia

1693. Strangers to strategic partners: Thirty years of Sino-Saudi relations

Author:
Jonathan Fulton
Publication Date:
08-2020
Content Type:
Special Report
Institution:
Atlantic Council
Abstract:
This year marks the thirtieth anniversary of diplomatic relations between China and Saudi Arabia. Over the past three decades, the bilateral relationship has transitioned from one of marginal importance for both countries to a comprehensive strategic partnership, largely on the back of a trade relationship founded on energy. This report begins with a brief historical overview of Sino-Saudi relations, describing how the two countries transitioned from mutual hostility to diplomatic relations, and then how political and economic cooperation strengthened the relationship to the point that they signed a comprehensive strategic partnership in 2016. It then discusses how the partnership has developed through the 1+2+3 cooperation pattern, especially through projects linking China’s Digital Silk Road with Saudi vision 2030, as well as nascent levels of security cooperation. It ends with an analysis of the bi- lateral relationship within the context of the US-Sino-Saudi triangle: How does it affect each state’s larger strategic interests, and can issues where their interests diverge put a ceiling on future Sino-Saudi ties?
Topic:
Diplomacy, Environment, Politics, Bilateral Relations, Economy, Business, and Energy
Political Geography:
China, Middle East, Asia, Saudi Arabia, and Gulf Nations

1694. Transforming Indian agriculture: A policy framework to guide US-India partnership

Author:
D. Narain
Publication Date:
09-2020
Content Type:
Policy Brief
Institution:
Atlantic Council
Abstract:
Agriculture has formed the backbone of India’s economy for many decades and remains crucial to providing food security for the country’s growing population. It constitutes a major pillar of India’s economic growth and a significant contributor to its growing exports sector. Indian agriculture is the country’s largest employer with one hundred and forty million smallholder farmers and an additional sixty million people employed directly or indirectly in farming operations. Together, these two hundred million people represent more than 40 percent of India’s working population. Though India is one of the top five agricultural economies in the world, Indian agriculture is at a serious inflection point. This sector faces multiple challenges, including lagging yields in key crops as compared to global averages1, restricted market access, lack of competitive prices for produce, and limited water availability. The latter leaves farmers to rely on rain-fed agriculture severely impacted by climate change. All these factors have eroded farm incomes, created increased pressure on government subsidies, and affected rural livelihoods. The growth and success of agriculture is important for India’s long-term economic growth, enhancing its global and export competitiveness, improving rural livelihoods, and creating a sustainable agricultural eco-system. This brief outlines the policy framework required to make these goals a reality. In order to build effectively on these amendments, India needs a broader set of policy reforms targeting everything from farm input to output in order to facilitate a complete transformation of Indian agriculture. In addition to policy reforms, the transformation requires strong collaboration among all players in the agri-value chain to achieve three key goals: To help Indian farmers increase crop productivity with better yields per hectare of cultivable land. This has to be done while driving sustainable agricultural practices including water conservation and improved soil health. To enhance farm profitability and generate sustainable farm incomes. To deliver rural prosperity by helping job creation and creating better lives for farming communities.
Topic:
Agriculture, Bilateral Relations, Partnerships, Economy, and Trade
Political Geography:
South Asia and India

1695. COVID-19’s Impact on Bangladesh Economy

Author:
Muhammad Shahadat, Hossain Siddiquee, and Avinno Faruk
Publication Date:
11-2020
Content Type:
Working Paper
Institution:
BRAC Institute of Governance and Development (BIGD), Brac University
Abstract:
This BIGD study examines the impact of COVID-19’s impact on the major economic and financial indicators of the economy of Bangladesh, including production, wages, price levels, advances, bills, investments, remittances and foreign trade, using the secondary data published by the Bangladesh Bureau of Statistics (BBS), Bangladesh Bank (BB), and the Ministry of Finance (MoF). In addition to the recent impact of the global economic meltdown, Bangladesh also experienced severe demand contraction in the local economy; this exacerbated the overall economic crisis of the country. Considering the duration and severity of COVID-19, we examine its impact on major economic and financial indicators of the Bangladesh economy and recommended policy responses for recovery, based on the analysis. Both domestic and international demands declined due to the outbreak and subsequent lockdown, and, thus, producers responded by lowering output to minimize the loss, especially in the manufacturing sectors. Findings reveal that nominal Wage Rate Index (WRI) in the industry and service sectors fell in recent times, which now appear to be recovering. The national inflation rate has not been affected much based on point-to-point changes. Food inflation fell in May 2020 and stood at 5.09 percent, but it appears to have risen recently. Non-food inflation rates have been falling over the last six months from April-September 2020. Prudent measures should include constant monitoring and adapting to the latest developments in major trading partners and host countries to mitigate the economic losses caused. Bank credit would play a key role in the ongoing and upcoming recovery process, as the government has opted for a credit-led stimulus package. However, as the virus is yet to be contained and an effective vaccine for it is yet to be made available in Bangladesh everywhere and to everyone, its economic repercussions are likely to continue in the foreseeable future.
Topic:
Development, Economy, and COVID-19
Political Geography:
Bangladesh and South Asia

1696. The Impact of COVID-19 Pandemic on Small and Medium Enterprises in Bangladesh

Author:
Asadul Islam, Atiya Rahman, and Rafia Nisat
Publication Date:
12-2020
Content Type:
Working Paper
Institution:
BRAC Institute of Governance and Development (BIGD), Brac University
Abstract:
Like other economic players, the novel pandemic severely hit small businesses—the larger source of growth and employment but also the most vulnerable sector—by disrupting national and international business networks, supply chain, and demand. To understand the evolving state of small enterprises during pre, par, and post-lockdown periods, BIGD in collaboration with Monash University, Australia conducted a survey on small enterprises, mostly light-engineering firms, and young workers across 18 districts in Bangladesh. The study finds that lockdown measures caused the majority of small enterprises to shut down, and during the early period of relaxing the lockdown, one-third of the enterprises were operating at limited capacity. Demand drop and the burden of fixed costs to run the businesses were the prominent reasons behind the drastic fall in profit. As a result, workers were losing jobs and the gender gap was widening, because female labour-intensive work (i.e. beauty parlour, tailoring) was affected harder. Other findings of concern include the emerging vulnerabilities for the enterprises with lower endowment and poor access to government stimulus packages and other financial support. The study emphasises on the importance of concrete targeting criteria and support delivery platforms to assist more vulnerable enterprises. Finally, it highlights that the enterprises that received BRAC’s intensive training on occupational health and safety (OHS), along with business training and financial linkages, made double profit compared to their counterparts. However, the absolute amount of profit was substantially lower for both groups, compared to their pre-COVID profit, indicating the importance of scaling up such intensive training to create more resilient enterprises in such crises.
Topic:
Development, Employment, Economy, Business, Pandemic, and COVID-19
Political Geography:
Bangladesh and South Asia

1697. Socio-Economic Impact Assessment of COVID-19 and Policy Implications for Bangladesh

Author:
Sultan Hafeez Rahman, Abdur Razzaque, Jillur Rahman, and Wasel Bin Shadat
Publication Date:
10-2020
Content Type:
Working Paper
Institution:
BRAC Institute of Governance and Development (BIGD), Brac University
Abstract:
The COVID-19 pandemic is causing unprecedented health and economic crisis for global economies, including Bangladesh. The economic and social disruption caused by the pandemic as reflected in a massive loss of human life worldwide, drastic decline in economic activities and employment, huge pressure on public health and other support services, social and physical distancing, etc. has been devastating. Since the first confirmed case of infection in March 2020, Bangladesh, like many other countries, had to consider some extraordinary measures including, amongst others, closure of all educational institutions, enforcement of economic shutdown measures and gradual reopening of economic activities, rolling out a stimulus package for business enterprises, etc. This study is motivated by the fact that understanding the economywide impact of Covid-19 has been challenging in Bangladesh. Global Trade Analysis Project (GTAP) model – a multi-region/multi-country computable general equilibrium comparative static framework – is utilized in this study to explore the potential impacts of COVID-19 induced disruptions for Bangladesh under three different alternative – low-shock, medium shock and high-shock scenarios. It outlines the transmission mechanisms through which the Bangladesh economy is being affected to assess the impact on major macroeconomic variables and sectoral outputs. These results are then incorporated into the social accounting matrix for Bangladesh to simulate the likely income and poverty effects for various types of households. This study also explores the likely impact of government support measures through the stimulus package in mitigating the adverse consequences.
Topic:
Economy, Public Policy, COVID-19, Health Crisis, and Socioeconomics
Political Geography:
Bangladesh and South Asia

1698. Latin America and the New Global Order

Author:
Antonella Mori
Publication Date:
03-2020
Content Type:
Special Report
Institution:
Italian Institute for International Political Studies (ISPI)
Abstract:
Amid the coronavirus pandemic, global geopolitical relations are being shaken to their roots, and Latin America is no different. The region is experiencing new transformations in political, economic, and societal terms. In turn, all these rapid changes are having an impact on how Latin American countries shape their own foreign policies, and on how they adapt to the challenges of an increasingly multipolar world. How are the US, China, and the EU competing in terms of political alliances and economic projection on the Latin American region? And how are some of the main Latin American countries (namely Brazil, Mexico, and Venezuela) contributing to shape these new regional dynamics?
Topic:
Politics, European Union, Economy, Strategic Competition, COVID-19, and Multipolarity
Political Geography:
China, Brazil, Latin America, Venezuela, Mexico, and United States of America

1699. Maritime Challenges: Decarbonization and Geopolitical Tensions

Author:
Clarissa Lins and Guilherme Ferreira
Publication Date:
11-2020
Content Type:
Special Report
Institution:
Brazilian Center for International Relations (CEBRI)
Abstract:
The maritime sector is key to the international economy and trade, accounting for almost ¾ of total freight activity. Shipping is also the most energy-efficient way to transport cargo. “In the coming years, structural changes are expected in the global economy and maritime scenario”, pointed out the speakers during the event “Maritime challenges: decarbonization and geopolitical tensions” held in partnership between CEBRI and the Norwegian Consulate General in Rio de Janeiro.
Topic:
Geopolitics, Economy, Maritime, Trade, Shipping, and Decarbonization
Political Geography:
Brazil and Global Focus

1700. China and COVID-19: a shock to its economy, a metaphor for its development

Author:
George Magnus
Publication Date:
02-2020
Content Type:
Working Paper
Institution:
LSE IDEAS
Abstract:
The Chinese government’s draconian actions to control the coronavirus seem to be producing a remarkable economic contraction. As so many are unable to attend or resume work at the moment, the government’s palliative economic measures may gain little traction. Although the demand shock will eventually fade, other longer-term issues will surely endure. The supply shock will be less obvious but more corrosive. The government’s questionable conduct in managing the public health crisis has unveiled significant features about governance in Xi’s China that can be mapped on to China’s development. While this crisis is the biggest challenge Xi has faced, there is little doubt that he will survive it, champion the party’s role in the nation’s rescue, and feel emboldened to continue with his authoritarian governance. Yet it is this that, in the long run, will prove incompatible with China’s economic development ambitions.
Topic:
Development, Economy, COVID-19, and Health Crisis
Political Geography:
China and Asia