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38941. Vietnam's Second Revolution

Author:
Elizabeth Pond
Publication Date:
03-2014
Content Type:
Journal Article
Journal:
World Policy Journal
Institution:
World Policy Institute
Abstract:
HANOI, Vietnam—The best way to feel the sheer energy of Vietnam's under-29 population is to ride pillion on Do Duyen's motorbike. Like most Hanoi drivers (except when they drink too much rice wine at Tet or at weddings), Duyen has a sixth sense of how others will react in the flood of motorbikes and intruding cars, trucks, buses, bicycles, and village peddlers balancing bamboo poles across their shoulders. Never mind that motorcyclists routinely make illegal turns at intersections by plunging left against traffic that is hurtling right. Everyone else simply swerves to accommodate this anomaly in his or her own way, and the collective streams of traffic glide on.
Political Geography:
Vietnam

38942. Currency Wars

Author:
David A. Andelman
Publication Date:
03-2014
Content Type:
Journal Article
Journal:
World Policy Journal
Institution:
World Policy Institute
Abstract:
At noon on August 10, 1978, I arrived at the frontier between Austria and Czechoslovakia in my rickety old Opel sedan that was The New York Times bureau car. I'd driven up from Belgrade, where I was then based, covering an Eastern Europe thoroughly in the grip of communism. Now, when I arrived at the frontier, I steeled myself. I was about to pass through what Winston Churchill had 32 years earlier dubbed the Iron Curtain, separating East from West. These were difficult times. Communism and capitalism were very much at each others' throats, and there was no more extreme a contrast than in some of these heavily-fortified border points where the favored few could cross in both directions, provided they had all the right papers. Indeed, I had my American passport, my Czechoslovak visa, a fistful of dollars, my notebooks, and some background material, from which I had carefully expunged any Czech contacts and sliced off the letterhead of Radio Free Europe Research, the virulently anti-communist, American-backed propaganda source, that would likely have landed me in hot water with the ever-vigilant border police.
Political Geography:
New York and Europe

38943. Change Management

Publication Date:
06-2014
Content Type:
Journal Article
Journal:
World Policy Journal
Institution:
World Policy Institute
Abstract:
Pocket change-mountains of it can shape or re-shape society, politics, and most certainly the economy. The rise and fall of governments, democracies, and tyrannies are all too often at the mercy of the ebb and flow of plain, hard cash. Currencies today are very much the defining feature of nations, individually and collectively. A flailing and fragmented Europe seeks to hang together-retain its global reach-on the strength of a single currency that has taken on a life or neardeath of its own, its very existence becoming an end in itself. Across Africa and Asia, the Americas north and south, continents and peoples are all too often held hostage by forces unleashed in the name of money. It is this kaleidoscope of silver, gold, and paper, often in the magnitude of tsunamis, that we set out to explore in the Summer issue of World Policy Journal.
Political Geography:
Africa, America, Europe, and Asia

38944. The Big Question: How much confidence do you have in your nation's banking system?

Author:
Ann Lee, Theodore Pelagidis, Leila Fourie, Fernando Marques, José Antonio Ocampo, Massimo Antonini, Prithvi Naik, and Neil Britto
Publication Date:
06-2014
Content Type:
Journal Article
Journal:
World Policy Journal
Institution:
World Policy Institute
Abstract:
The global banking system is the fundamental conduit of value within nations and across borders. Since the last global financial crisis, however, the role of banks as a repository of value has come increasingly into question. Today, with a fragile recovery in so much of the world, banks and those who manage and regulate them are under attack. We asked our panel of global experts how this crisis of confidence is playing out in their nation or region.

38945. Coins of the Realm

Author:
Shailendra Bhandare
Publication Date:
06-2014
Content Type:
Journal Article
Journal:
World Policy Journal
Institution:
World Policy Institute
Abstract:
OXFORD, England—We live in a globalized world where financial developments in one region can have an impact on a vastly different and geographically disparate location. The forces joining them are those of money, wealth, and finance, which are deeply interlinked, or so we tend to think. But the world around us has always been globalized, albeit to different degrees and involving different shades of financial undercurrents. An interesting prism to see this continual globalization is through the role itinerant and global currencies and monetary unions have played.
Political Geography:
England

38946. Sugar Daddies of Global Finance

Author:
Stanley Pignal
Publication Date:
06-2014
Content Type:
Journal Article
Journal:
World Policy Journal
Institution:
World Policy Institute
Abstract:
LONDON—One of the cornerstones of Marxist-Leninist thinking is that the state should control the "commanding heights" of an economy—industry, agriculture, infrastructure, and, perhaps above all, money and banking. That vision has largely perished, with one gaping exception. Government remains omnipotent in the financial system, not only on Wall Street or Threadneedle Street, but far beyond. Across the world, the state weighs in on all sides of the ledger, insuring both a bank's assets (mortgages and loans) and its liabilities (deposits). State intervention in banking ranges from muscular day-to-day regulation through to crisis-time bailouts, and is an entirely accepted feature of the financial system. Financiers complain about excessive red tape, because that is what all businessmen do. But absent the state's involvement in their sector, it is a safe guess far fewer would still be gainfully employed following the carnage of 2008. Those who survived would likely find their ensuing careers to be nasty, brutish, short, and entirely devoid of outsized bonuses.
Political Geography:
London

38947. Argentina: Driven Black

Author:
Meredith Hoffman
Publication Date:
06-2014
Content Type:
Journal Article
Journal:
World Policy Journal
Institution:
World Policy Institute
Abstract:
BUENOS AIRES—When the peso hit rock bottom in January, Ande Wanderer rang up her money dealer—a former official in Argentina's nation-al government. She'd sold off her stocks, cashed in her American savings, and wired him the money. Now she rushed to his office, a ninth floor room in downtown Buenos Aires. The official ex-change rate was 8 pesos to the dollar. But her dealer gave her 11—the black market rate at the time—and kept a small fee for himself. That meant she got some 40 percent more pesos for her U.S. money.
Political Geography:
United States, America, and Argentina

38948. God and State in Egypt

Author:
Michael Wahid Hanna
Publication Date:
06-2014
Content Type:
Journal Article
Journal:
World Policy Journal
Institution:
World Policy Institute
Abstract:
CAIRO—During a private conversation following Egypt's bitterly contested and closely fought presidential election of 2012, a Western diplomat marveled, naively, at the multitudes of veiled women who had come out to support the old regime's candidate, the avowedly anti-Islamist figure of Ahmed Shafik. It was during this campaign that strongly held anti-Islamist themes were aired widely and used to mount a campaign against the potent, often bigoted, Muslim Brotherhood. Many of these same views were advanced in support of the military's removal of the Brotherhood's Mohamed Morsi, victorious candidate for the presidency and, with his electoral victory, successor to President Hosni Mubarak.
Political Geography:
Egypt

38949. A Box of Ideas

Author:
Rosalie Hughes
Publication Date:
06-2014
Content Type:
Journal Article
Journal:
World Policy Journal
Institution:
World Policy Institute
Abstract:
CANKUZO PROVINCE, Burundi —Last November, Sedar Zamukulu Watula and 30 other Congolese refugees waited, perched on a circle of wobbly wooden benches in Kavumu Refugee Camp in western Burundi. Watula, 27, sweat in the heat, unusual for the rainy season. He was used to waiting —for food, for soap, for peace in his hometown of Goma in eastern Democratic Republic of Congo (DRC). But this time the wait was different. He'd come to hear a mzungu (white person) talk about a new project that was about to arrive in the camp- the Ideas Box.
Political Geography:
Paris

38950. Child Care in Crisis

Author:
Sabrina Natasha Premji
Publication Date:
06-2014
Content Type:
Journal Article
Journal:
World Policy Journal
Institution:
World Policy Institute
Abstract:
NAIROBI, Kenya —In the winding alleyways of Mlolongo, one of Kenya's densest slums, heavy rainfalls from the previous night carpet the road with mud and animal waste, making both nearly impossible to avoid. Visitors approach and remove their shoes at the door to Mama Agnes' home, a mud shack, then step into a room where the air is pungent with the smell of urine and feces. In the darkness, one misstep and a visitor stumbles upon an infant, who seems unshaken by the accidental nudge. A few steps further lie two dozen more infants, none older than 18 months —some sitting on a broken couch, many lying on the concrete ground. Though all awake, their perfect little bodies remain still, only their bellies ri sing with each breath. In an eight-foot square space, there are at least 25 babies, and the only sound —silence.
Political Geography:
Kenya and Nairobi