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122. Quarterly Review of the Georgian Economy ( II Quarter, 2018)
- Author:
- Merab Kakulia, Nodar Kapanadze, and Lela Bakhtadze
- Publication Date:
- 10-2018
- Content Type:
- Special Report
- Institution:
- Georgian Foundation for Strategic International Studies -GFSIS
- Abstract:
- The Quarterly Review of the Georgian Economy is an electronic publication of the Georgian Foundation for Strategic and International Studies (Rondeli Foundation), which aims at informing readers about the ongoing processes within the country’s economy. The review is based on data of official statistics and on expert estimates.
- Topic:
- Debt, International Trade and Finance, Foreign Direct Investment, Budget, Employment, Economic Growth, Banks, and Inflation
- Political Geography:
- Eurasia, Caucasus, and Georgia
123. The three stages of China’s ODI development
- Author:
- Bijang Wang and Kailin Gao
- Publication Date:
- 11-2018
- Content Type:
- Policy Brief
- Abstract:
- In 2016, China became the world’s second-largest outward investor after the United States, with US$196.2 billion of outward direct investment (ODI) flows. China’s foray into ODI developed in three stages, moving from a ‘restricted’ to a ‘relaxed’ and most recently to a ‘regulated’ approach. Today’s strengthened ODI regulations correct imbalanced ODI practices of earlier eras, but some challenges remain. Before 2000, capital shortages prompted China to invite capital inflows and restrict capital outflows. Chinese enterprises had to apply for approval to invest overseas on a case-by-case basis, which minimised overseas investment. By the end of 1999, China ranked 23rd in the world for outward investment with an ODI stock of US$27 billion, representing 0.4 per cent of the global total.
- Topic:
- Foreign Direct Investment, Investment, and Economic Development
- Political Geography:
- China and Asia
124. The Development of U.S.-China Trade and the Result of Conflict
- Author:
- Ma Tao
- Publication Date:
- 06-2018
- Content Type:
- Working Paper
- Abstract:
- The very success of globalization has flourished since World War II. The benefits of economic globalization are not evenly distributed among countries, especially among different groups within a country. Before the financial crisis in 2008, as the major promotors of globalization, developed countries intensified their internal contradictions. So populism, protectionism and isolationism are rising in many developed countries, which are the main features of anti-globalization. Brexit happened against the polls in 2016, in large part, because of the migrant crisis tipping the British towards protection of its borders. In the beginning of his presidency, Donald Trump declared to withdraw from TPP, build Mexican border wall, renegotiate NAFTA and so on. Trump’s protectionism policies may be gradually implemented in 2017. Going on like these, the tide of anti-globalization may be further strengthened in the future.
- Topic:
- Globalization, Bilateral Relations, Foreign Direct Investment, Trade Wars, and Trade
- Political Geography:
- China, Asia, North America, and United States of America
125. Country-Risk Rating of Overseas Investment from China (2018)
- Author:
- CROIC-IWEP
- Publication Date:
- 01-2018
- Content Type:
- Working Paper
- Abstract:
- China's outbound direct investment hit a new high in 2016, reaching $196.15 billion, making the country the world's second-largest overseas investor. The volume of its outbound direct investment increased by 34.7% year-on-year in 2016 and accounted for 13.5% of the world's total — the first time it exceeded 10%. Since 2003, when the Ministry of Commerce joined hands with the National Bureau of Statistics and the State Administration of Foreign Exchange to start releasing authoritative investment data annually, China's outbound direct investment has kept increasing for 14 consecutive years. From 2002 to 2016, the annual average growth of its outbound direct investment reached 35.8%. In 2016, China's outbound direct investment once again exceeded the foreign direct investment it received, making it a net capital exporter for two consecutive years. Meanwhile, its outbound direct investment stock hit $1.35739 trillion at the end of 2016, the 6th largest in the world, two notches up compared with in 2015. In 2016, China had the most overseas M&A deals in history in terms of both number and value of M&A deals. In the future, China is expected to bring out more of its investment potentials and build a win-win cooperative relationship with other countries following its economic transition and upgrading, rising competitiveness of Chinese enterprises in overseas markets and steady advancement of the Belt and Road Initiative.
- Topic:
- Economics, Foreign Direct Investment, and Investment
- Political Geography:
- China and Asia
126. China’s Relationship with Chile: The Struggle for the Future Regime of the Pacific
- Author:
- Evan Ellis
- Publication Date:
- 11-2017
- Content Type:
- Journal Article
- Journal:
- China Brief
- Institution:
- The Jamestown Foundation
- Abstract:
- Though superpower diplomacy dominated coverage of the Asia Pacific Economic Cooperation forum (APEC) leaders summit in November, China’s upgrading of a free-trade agreement with Chile served to highlight the strength of an economic and political relationship that it has built with the country, and the influential position Chile currently occupies in shaping Chinese engagement with Latin America.
- Topic:
- International Trade and Finance, Treaties and Agreements, Bilateral Relations, Infrastructure, and Foreign Direct Investment
- Political Geography:
- China, Asia, South America, and Chile
127. Nation-Branding: the Case of Russia
- Author:
- Anna Velikaya
- Publication Date:
- 08-2017
- Content Type:
- Commentary and Analysis
- Institution:
- Rethinking Russia
- Abstract:
- Russia seems to have finally realized in recent years that nation branding, seen as a set of actions to improve country’s image abroad, is a form of investment, not a cost. In order to analyze the Russian approach to nation branding, it is necessary to highlight several dimensions: economic, scientific, cultural, sport, media, and development.
- Topic:
- Foreign Policy, Foreign Direct Investment, Public Opinion, Economy, Soft Power, and Cultural Diplomacy
- Political Geography:
- Russia and Eurasia
128. Intra-Regional Foreign Direct Investment In SADC: South Africa and Mauritius Outward Foreign Direct Investment
- Author:
- Onelie B. Nkuna
- Publication Date:
- 06-2017
- Content Type:
- Working Paper
- Institution:
- African Economic Research Consortium (AERC)
- Abstract:
- This paper looks at intra-SADC (Southern African Development Community) Foreign Direct Investment (FDI) and focuses on Mauritius and South Africa’s outward FDI. Data from 1999 to 2010 are collated and qualitative analyses conducted. The study reveals that Mauritius’ outward FDI was mainly in the service sector and largely went to Madagascar, Seychelles and Mozambique, which were also the country’s main trading partners, except for Botswana. Meanwhile, South African investments were mainly in Mauritius, Tanzania and Mozambique, while the country’s main trading partners were Botswana, Zambia, Zimbabwe, Swaziland and Angola. The study also found the following to be potential drivers of Mauritian and South African outward investments, and hence intra-SADC FDI flows: geographical proximity, market access, liberalized markets, stable macroeconomic and political environment, natural resource availability, and policy and institutional framework. Graphical analyses and simple correlations reveal that trade and FDI are positively correlated for Mauritius and South Africa’s outward investment, suggestive of a complementarity relationship.
- Topic:
- Economics, International Political Economy, International Trade and Finance, Regional Cooperation, Foreign Direct Investment, and Regional Integration
- Political Geography:
- Africa, South Africa, and Mauritius
129. Foreign Investment in Cuba: From Conflict to Resolution
- Author:
- Rafael-Andrés Velázquez-Pérez, Miguel-Ángel Michinel-Álvarez, Margaret Crahan, and Gabriel Vignoli
- Publication Date:
- 01-2017
- Content Type:
- Book
- Institution:
- Institute for Latin American and Iberian Studies at Columbia University
- Abstract:
- This manuscript originates from research initiated in 2010 at the University of Vigo in International Private Law with a specific focus on International Investment Law. The objective was to analyze the impact of the new paradigm of sustainability on this sphere of the law, with an emphasis on developing countries, and more specifically Cuba. This line of research has resulted in several publications intended for a Spanish-speaking scientific-juridical audience. Yet there is no scholarly work directly aimed at US investors as a prioritized target group. Being the first single Foreign Direct Investor in the world, and given its geopolitical and economic proximity, the US is bound to play a prime role in the field of investments in Cuba—despite political complications. As a consequence, we opted for a bilingual monograph on this topic with a dual purpose. The first part of the book, which is aimed at reaching a wide audience, examines the role played by foreign investment in Cuba and the country’s interest in attracting it by providing investors with a modern, stable, and coherent legal framework that is in line with current international standards. The second part of the book delves into specific technicalities of international investment law— with an emphasis on the conflict resolution system, which finds in arbitrage its main mechanism. This part, technical in nature, is not directly aimed at potential investors as much as their legal advisers, legal firms, arbitrators, and specialized scholarly communities—without whose input the success of foreign direct investment would be impossible. The text also engages critically with the specificities of US-Cuba relations in the context of Foreign Direct Investment. As shown in the first part of this monograph, it seems clear that the strategies pursued by different US administrations have thus far failed. It would be to the US’ benefit to forego the current policy of confrontation in favor of one of cooperation, as exemplified by the approaches taken by Latin America, xiv Europe, and Canada. The US should not lag, if it wants to attain a strategic position in the global repositioning toward the developing Cuban market. There is a need for targeted diplomatic and legislative efforts aimed at strengthening cooperation between the two countries in terms of investment. Among the challenges is the absence of a Bilateral Investment Treaty (BIT) between Havana and Washington. The obstacles faced by the Trump administration in the political, diplomatic, and financial sphere indicate that excessive isolationism and protectionism are not only counterproductive from a financial viewpoint, but they also imply for the US a loss of sovereignty and a diminished capacity to influence the international context. Should the US not change its current policy, it will be outperformed by other international actors such as the European Union and the BRICS (Brazil, Russia, India, and China) as investors in Latin America and in Cuba.
- Topic:
- Treaties and Agreements, Bilateral Relations, Foreign Direct Investment, Law, Economy, and Legislation
- Political Geography:
- Cuba, Latin America, Caribbean, and United States of America
130. Zambia’s Bilateral Investment Treaties Review and Evaluation
- Author:
- Joseph Simumba
- Publication Date:
- 11-2017
- Content Type:
- Working Paper
- Institution:
- Zambia Institute for Policy Analysis and Research (ZIPAR)
- Abstract:
- Zambia attracts foreign direct investments (FDI) from many countries that vary in terms of income levels and geographical location. In the last two decades, the country witnessed a rapid increase in bilateral investment treaty (BIT) activities triggered by massive economic liberalisation of the early 1990s. From a single ratified BIT with Germany prior to 1990, there are now 31 BITs locally called Investment Promotion and Protection Agreements (IPPAs) of which two (2) are ratified, eleven (11) are signed and eighteen (18) exist in draft form. However, BIT activities in Zambia have plummeted in line with a post 2010 global slowdown, a situation linked to rising uncertainty caused by a surge in the number of investment treaty-based cases at international tribunals. Foreign investors are suing host states over disputes ranging from direct expropriation to claims of adverse business regulation especially in the energy and extractives sectors. This study reviews Zambia’s BITs and evaluates their impact on the accumulation of FDI stocks using data collected from the Private Investment and Investor Perception Surveys conducted by Bank of Zambia, Central Statistical Office and Zambia Development Agency for the period 2007-2014 were data is publicly available. The findings show that BITs significantly matter for accumulation of FDI stocks in Zambia. The group of countries with a ratified BIT (Germany and Switzerland) maintain 1.6 times more FDI stocks than the corresponding group with only signed BITs controlling for income groups and geographical location and their interactions based on the World Bank classification. The groups of countries with a draft or without a BIT maintain FDI stocks that are less than four times lower than FDI stocks maintained by the group of ratified BITs countries. This evidence is robust to several potential confounders of the relationship between BITs and FDI stocks. Therefore, ratified BITs work for Zambia’s FDI stocks, a result that challenges some pessimism against IPPAs in Zambia.
- Topic:
- Treaties and Agreements, Foreign Direct Investment, Economy, and Investment
- Political Geography:
- Africa and Zambia
131. Türkiye'de Terör ve Doğrudan Yabancı Yatırım: Saklı Eşbütünleşme ve Asimetrik Nedensellik İlişkisi.
- Author:
- Mehmet Zeki Ak and Veysel Inal
- Publication Date:
- 12-2017
- Content Type:
- Journal Article
- Journal:
- Bilgi
- Institution:
- Sakarya University (SAU)
- Abstract:
- Bu çalışmada Türkiye’de terörizm ve doğrudan yabancı yatırım arasındaki ilişkiler eşbütünleşme ve nedensellik testleriyle, 1980-2015 dönemi için incelenmiştir. Seriler arasındaki ilişkiler, mevcut literatür-den farklı olarak önce Hatemi-J ve Irandoust (2012) tarafından geliştirilen, saklı eşbütünleşme yaklaşımıyla incelenmiştir. Bu analiz sonucunda terörizm ve doğrudan yatırımlar arasında eşbütünleşme ilişkisinin olmadığı belirlenmiştir. Daha sonra, seriler arasındaki asimetrik neden-sellik ilişkileri Hatemi-J (2012) yöntemiyle araştırılmıştır. Bu analiz sonucunda ise literatürdeki mevcut çalışmaların bulgularına ters düşecek biçimde terör eylemleri ile ekonomik büyüme arasında herhangi bir nedensellik ilişkisi olmadığı tespit edilmiştir. Bütün bu bulgular birlikte değerlendirildiğinde, Türkiye özelinde terörist saldırıların doğrudan yabancı yatırım davranışlarını etkilemediği sonucuna ulaşılmaktadır.
- Topic:
- Terrorism, Foreign Direct Investment, and Economic Growth
- Political Geography:
- Turkey and Middle East
132. Chinese Investment in Critical U.S. Technology: Risks to U.S. Security Interests
- Author:
- Council on Foreign Relations
- Publication Date:
- 10-2017
- Content Type:
- Working Paper
- Institution:
- Council on Foreign Relations
- Abstract:
- Chinese firms, both private and state-owned, have in recent years invested billions of dollars in the U.S. technology industry, raising concerns that a powerful rival has gained or could soon gain access to sensitive and, in some cases, critical technologies that underpin American military superiority and economic might. At the workshop entitled “Chinese Investment in Critical U.S. Technology: Risks to U.S. Security Interests,” held in San Francisco, on July 18, 2017, CFR convened nearly thirty current and former government officials, academics, bankers, investors, and corporate executives to explore whether the large and growing early-stage Chinese investment in critical U.S. technology poses a threat to U.S. national security, and, if so, to outline policies that mitigate the risks of unbridled Chinese investment and to bolster U.S. competitiveness.
- Topic:
- Security, Science and Technology, Foreign Direct Investment, and Cybersecurity
- Political Geography:
- United States, China, Asia, and North America
133. Writing New Rules for the U.S.-China Investment Relationship
- Author:
- Jennifer M. Harris
- Publication Date:
- 12-2017
- Content Type:
- Working Paper
- Institution:
- Council on Foreign Relations
- Abstract:
- Chinese outbound investment is on the rise, and much of it is finding its way into the United States. Be- tween 2010 and 2015, China’s foreign direct investment (FDI) inflows to the United States grew by an average of 32 percent annually.1 Within the past two years alone, Chinese foreign investment inflows to the United States increased four-fold, and available data suggests 2017 will see the second highest annual investment on record, after 2016.2 This is not a two-way street: the United States and other foreign investors do not enjoy similar open market access in China. China maintains a dizzying assortment of formal and informal barriers to for- eign investment—from outright restrictions and quotas to mandatory joint ventures, forced localization measures, and domestic licensing regimes. Despite years of negotiations, these barriers are, if anything, growing more cumbersome in many sectors. U.S. firms paint a darkening picture of the business climate they face in China. U.S. FDI in China has slowed considerably in recent years: after growing roughly 180 percent from 2002 to 2007 (albeit from a low baseline), U.S. FDI flows into China have declined since 2012.3 The one-way surge of Chinese investment into the United States comes against a backdrop of strategic mistrust between Washington and Beijing. Ongoing accusations of state-sponsored cyber predation of U.S. firms, Beijing’s increasing aggressiveness over territorial disputes, its systematic efforts to under- mine the U.S. alliance system in Asia, and mounting tensions over North Korea all contribute to a dark- ening mood in the U.S.-China relationship. And, like so much involving China, this investment is simply different. Rarely, if ever, has the United States seen an increase in investment of this magnitude—espe- cially from a non-ally and especially from one where the lines between state ownership and private own- ership are so inherently blurred. For all the concern surrounding Japanese investment in the United States in the 1980s—coming as it did amid fierce economic competition—those debates ultimately re- mained under the umbrella of the U.S.-Japan military alliance. All of this raises questions about whether the United States needs to tighten its stance on Chinese in- bound investment; proposals to that effect have bipartisan support in the Congress. The Donald J. Trump administration has signaled its desire for a tougher approach in its economic dealings with China, which U.S. businesses seem to welcome. One foundation for such an approach is the principle of reciprocity. Roughly two dozen sectors in China—construction, mining, banking, insurance, and so on—remain effectively off-limits to American investment, because the Chinese government protects its domestic companies through regulations and financial subsidies. Even in sectors that technically allow foreign investment, discriminatory industrial policies tilt the playing field in favor of Chinese firms. Until this changes, Washington would be justi- fied—even obligated—to limit Chinese investment in the U.S. market. However, U.S. policymakers do not have a consensus on what a policy of reciprocity would entail, and different policy interpretations could spell quite different economic and foreign policy consequences for the United States. The United States should aim for a version of reciprocity that allows it the flexibility to maximize pressure on the broad range of Chinese industrial policy concerns while leaving a clear route to negotiations. The United States should also encourage European and other Western countries, many of which are seeing similar increases in Chinese investment, to adopt this new approach.
- Topic:
- Diplomacy, International Cooperation, International Trade and Finance, and Foreign Direct Investment
- Political Geography:
- United States, China, Asia, and North America
134. A Deeper Look at China’s “Going Out” Policy
- Author:
- Hongying Wang
- Publication Date:
- 03-2016
- Content Type:
- Working Paper
- Institution:
- Centre for International Governance Innovation (CIGI)
- Abstract:
- In recent years, the world has seen rapid growth in China’s financial reach beyond its borders. Following the announcement of a “going out” strategy at the turn of the century, many Chinese enterprises have ventured to invest and operate abroad. After three decades as primarily a recipient of foreign direct investment (FDI), China has now emerged as a major FDI-originating country as well. Much of China’s foreign aid is closely entangled with its outgoing FDI, and it has also been rising. Since 2013, the Chinese government has been pushing for a new One Belt, One Road (OBOR) initiative, aiming to connect China with countries along the ancient Silk Road and a new Maritime Silk Road via infrastructure investment. In addition, since 2009, China has actively promoted the internationalization of its currency, the renminbi (RMB). There has been a great deal of anxiety about the motivations behind China’s going out policy and its possible international consequences. Many view it as an expression of China’s international ambition and a strategy that threatens the existing international order; however, that is not the whole story. An equally important but often less understood issue is the role of China’s domestic politics and political economy in shaping its new activism in foreign financial policy. Moreover, it is unclear how successful the going out policy is. The complexity of China’s going out policy was the topic for a recent round table discussion hosted by the Centre for International Governance Innovation and the Foreign Policy Institute at the School of Advanced International Studies of Johns Hopkins University in Washington, DC.[1] Participants discussed a number of issues around two broad themes: the impact of domestic political economy on China’s foreign economic policy and the challenges for China’s external financial strategy — in particular, its OBOR initiative.
- Topic:
- Markets, Political Economy, Monetary Policy, Infrastructure, Foreign Direct Investment, and Financial Markets
- Political Geography:
- China
135. Costa Rica and the United States: An Enduring Partnership
- Author:
- S. Fitzgerald Haney
- Publication Date:
- 04-2016
- Content Type:
- Working Paper
- Institution:
- The Ambassadors Review
- Abstract:
- The United States’ strong partnership with Costa Rica has deep roots: our countries established diplomatic relations in 1851, when Costa Rican Minister Felipe Molina presented his credentials in Washington, and a Treaty of Friendship, Commerce, and Navigation was finalized the following year. This early cooperation provided a strong foundation for a bilateral relationship that has only gained depth and breadth, and which continues to grow, evolve, and reveal new sources of strength. Today, the United States is Costa Rica’s largest trading partner and greatest source of foreign investment. Costa Rica’s stability, natural beauty, and proximity to the United States make it a favorite destination for US citizens—tourists, investors, and residents alike—further deepening the connections between our countries. Our shared values, long history of close cultural and commercial ties, and growing cooperation on regional initiatives make Costa Rica a valued strategic partner as the United States promotes prosperity, good governance, and security—the three pillars of the US Strategy for Engagement in Central America (the Strategy)—throughout the region.
- Topic:
- Diplomacy, Bilateral Relations, Foreign Direct Investment, and Governance
- Political Geography:
- Costa Rica and United States of America
136. Journal of Public and International Affairs 2016
- Author:
- Megan Campbell, Geoff Cooper, Kathryn Alexander, Aneliese Bernard, Nastasha Everheart, Andrej Litvinjenko, Kabira Namit, Saman Rejali, Alisa Tiwari, and Michael Wagner
- Publication Date:
- 05-2016
- Content Type:
- Journal Article
- Journal:
- Journal of Public and International Affairs (JPIA)
- Institution:
- School of Public and International Affairs (SPIA), Princeton University
- Abstract:
- It is rare to find a journal that examines women’s participation in South Sudan in one chapter and the exploitation of outer space resources in the next; that dissects the effects of Chinese investment in Sub-Saharan Africa and demystifies the Ferguson effect. But the Journal of Public and International Affairs is not your average journal. It represents the very best of what graduate-level public policy students have to contribute to the pressing policy debates of today. It is wide-ranging in subject matter and trenchant in its recommendations. Founded in 1990, but with an ancestor publication dating back to 1963, the JPIA is based on the notion that students of public policy have important things to say about public affairs and that careful analysis and targeted critique can pave the way for meaningful change and progress. The graduate students published in this year’s JPIA combine practical experience from around the world with intensive academic study. They have spent the last year diving deep into the issues they are passionate about and have all been challenged by the need to move past descriptive analysis and towards concrete solutions. These papers represent the best of their scholarship.
- Topic:
- Security, Gender Issues, Government, Regional Cooperation, International Affairs, Foreign Direct Investment, Counter-terrorism, Women, Inequality, Protests, Policy Implementation, Rural, and Sanitation
- Political Geography:
- China, Iran, Middle East, India, Central America, West Africa, North America, South Sudan, Sahel, and United States of America
137. Brazilian Foreign Policy and Investments in Angola
- Author:
- Pietro Carlos De Souza Rodrigues and Sonia Delindro Goncalces
- Publication Date:
- 06-2016
- Content Type:
- Journal Article
- Journal:
- AUSTRAL: Brazilian Journal of Strategy International Relations
- Institution:
- Postgraduate Program in International Strategic Studies, Universidade Federal do Rio Grande do Sul
- Abstract:
- The literature has given increasing attention to the role played by Brazilian transnational companies in its international insertion. In this context, special attention has been given to Brazilian private activities in Africa and, in particular, in Angola. Some countries in Sub-Saharan Africa are understood as potential markets for investments, especially given the similarities of the challenges for development and expertise of some of the Brazilian firms in sectors as agriculture, mining and civil construction. The objective of this paper is to try to capture possible relations between Brazil-Angola bilateral relations over the international operations of Brazilian firms. Our argument is that the business environment to investments has been favoured by a simultaneous international political alignment, as a consequence of the changes in the Brazilian foreign policy orientation.
- Topic:
- Foreign Policy, Agriculture, International Cooperation, Foreign Direct Investment, Mining, and transnationalism
- Political Geography:
- Africa, Brazil, South America, and Angola
138. Commitment to Development Index 2014
- Author:
- Owen Barder and Petra Krylová
- Publication Date:
- 01-2015
- Content Type:
- Policy Brief
- Institution:
- Center for Global Development (CGD)
- Abstract:
- The Commitment to Development Index ranks 27 of the world's richest countries on their policies that affect more than five billion people living in poorer nations. Moving beyond comparing how much foreign aid each country gives, the CDI quantifies a range of rich country policies that affect poor people.
- Topic:
- Development, Poverty, Foreign Aid, and Foreign Direct Investment
139. Investor-State Arbitration Between Developed Democratic Countries
- Author:
- Armand de Mestral
- Publication Date:
- 09-2015
- Content Type:
- Working Paper
- Institution:
- Centre for International Governance Innovation (CIGI)
- Abstract:
- Investor-state arbitration (ISA), also known as Investor-State Dispute Settlement (ISDS), by which a foreign investor is entitled to sue a state for damages resulting from the alleged violation of an applicable bilateral investment treaty or an investment chapter in a regional trade agreement, has come under scrutiny in many parts of the world. But in no countries has it been subject to greater scrutiny and challenge than in developed democracies. First in Canada and the United States as a result of the adoption of NAFTA Chapter 11, subsequently in the European Union as a result of the adoption of the International Energy Charter, and latterly in other countries such as Australia, critics have alleged that ISA grants an undue privilege to foreign investors whose complaints should be heard by domestic courts instead of panels of international arbitrators. Availability of ISA is in fact worldwide, due to a network of more than 3,200 investment treaties; criticisms have been voiced in different parts of the world and various proposals for change have been made. The criticisms in developed democracies have become sufficiently strong for it to be necessary to raise the question of whether recourse to ISA is appropriate in any form in developed democracies. Armand de Mestral’s paper is the first in the Investor-State Arbitration project. The series of papers will be prepared by leading experts from a number of developed democracies. Each will review the experience of ISA within specific jurisdictions, with a view to understanding the debates that have occurred in each one. The focus of the debate is on developed democracies, but the implications for the whole international community are very much in mind.
- Topic:
- Development, Energy Policy, Treaties and Agreements, Bilateral Relations, Foreign Direct Investment, and Democracy
- Political Geography:
- United States and Canada
140. Unconventional Monetary Policy, Spillovers, and Liftoff: Implications for Northeast Asia
- Author:
- Marcus Noland
- Publication Date:
- 11-2015
- Content Type:
- Policy Brief
- Institution:
- East-West Center
- Abstract:
- Unconventional monetary policy (UMP) has had predictable effects. How exit plays out is scenario-dependent. Quantitative easing has had the predictable effect of encouraging currency depreciation and some partner countries may have attempted to offset these exchange rate effects. Korea presents a particularly interesting case: it is relatively small and relatively open and integrated, in both trade and financial terms, with the United States and Japan, two practitioners of UMP. Authorities have acted to limit the won's appreciation primarily against the currency of China, not the US or Japan. Nevertheless, Korea's policy is a source of tension with the US. Under legislation currently being considered, the currency manipulation issue could potentially interfere with Korean efforts to attract direct investment from the US and create an obstacle to Korea joining the Trans-Pacific Partnership.
- Topic:
- Economics, International Trade and Finance, Political Economy, Monetary Policy, and Foreign Direct Investment
- Political Geography:
- Asia