Archive for the ‘Political Economy’ Category

26
Nov

 

china us

The U.S. is transfixed by its multibillion-dollar electoral circus. The European Union is paralyzed by austerity, fear of refugees, and now all-out jihad in the streets of Paris. So the West might be excused if it’s barely caught the echoes of a Chinese version of Roy Orbison’s “All I Have to Do Is Dream.” And that new Chinese dream even comes with a road map.

The crooner is President Xi Jinping and that road map is the ambitious, recently unveiled13th Five-Year-Plan, or in the pop-video version, the Shisanwu. After years of explosive economic expansion, it sanctifies the country’s lower “new normal” gross domestic product growth rate of 6.5% a year through at least2020.

It also sanctifies an updated economic formula for the country: out with a model based on low-wage manufacturing of export goods and in with the shock of the new, namely, a Chinese version of the third industrial revolution. And while China’s leadership is focused on creating a middle-class future powered by a consumer economy, its president is telling whoever is willing to listen that, despite the fears of the Obama administration and of some of the country’s neighbors, there’s no reason for war ever to be on the agenda for the U.S. and China.

Given the alarm in Washington about what is touted as a Beijing quietly pursuing expansionism in the South China Sea, Xi has been remarkably blunt on the subject of late. Neither Beijing nor Washington, he insists, should be caught in the Thucydides trap, the belief that a rising power and the ruling imperial power of the planet are condemned to go to war with each other sooner or later.

It was only two months ago in Seattle that Xi told a group of digital economy heavyweights, “There is no such thing as the so-called Thucydides trap in the world. But should major countries time and again make the mistakes of strategic miscalculation, they might create such traps for themselves.”

A case can be made — and Xi’s ready to make it — that Washington, which, from Afghanistan to Iraq, Libya to Syria, has gained something of a reputation for “strategic miscalculation” in the twenty-first century, might be doing it again. After all, U.S. military strategy documents and top Pentagon figures have quite publicly started to label China (like Russia) as an official “threat.”

To grasp why Washington is starting to think of China that way, however, you need to take your eyes off the South China Sea for a moment, turn off Donald Trump, Ben Carson, and the rest of the posse, and consider the real game-changer — or “threat” — that’s rattling Beltway nerves in Washington when it comes to the new Great Game in Eurasia. Read more…

 

By Pepe Escobar; Nov. 23

Published in http://www.tomdispatch.com/blog/176072/

11
Nov

 

According to conventional wisdom, states in the twenty-first century inhabit a fundamentally liberal world order. And while the current international order certainly has its discontents, most in the West like to believe that most of the world accepts liberal principles as desirable ways of organizing international affairs. Current events, however, highlight the extent to which this conventional wisdom is wishful thinking: international order is not an agreed-upon set of international compacts, but rather the site of vigorous political contestation, and the survival of its liberal character can hardly be taken for granted.

Europe and the United States are the architects and stewards of the rules, norms and institutions that together comprise what is commonly referred to as the liberal international order. The liberal order-building project can be said to have started during the age of Pax Britannica, when the world’s leading great powers—the European empires plus the United States, Japan and, to a lesser extent, the Ottomans—gradually came to routinize certain aspects of their relations with one another. Growing free trade, an expanded corpus of public international law, the use of binding arbitration as a mechanism for settling interstate disputes, formalized institutions and agreements to regulate commerce, communications and the process of colonization—all of these international developments can be considered germs of the present liberal order.

Read more…

Published by Peter Harris in the National Interest http://nationalinterest.org/ on November 10, 2015.

6
Nov

Composite image of China's President Xi Jinping and Taiwanese President Ma Ying-jeou

This weekend’s historic summit in Singapore between the presidents of China and Taiwan may have surprised many, but the sides first broached the subject about two years ago and the leaders had their legacies very much in mind.

For Chinese President Xi Jinping, the summit may not change the outcome of Taiwan’s presidential election in January which the island’s main opposition Democratic Progressive Party (DPP) is widely expected to win, two sources with ties to the Chinese leadership said. Anti-China sentiment is rising in Taiwan.

But longer term, Xi hopes to cement his place in China’s pantheon of great leaders if he is able eventually to lure the self-ruled democratic island, which Beijing claims as its own, back to the fold, the sources said.

“Xi is not thinking about just the present. It’s long term,” one source told Reuters, requesting anonymity due to the sensitivity of the issue.

“If Xi could eventually create a framework for reunification, he would be as great as, if not greater than Deng Xiaoping,” added the source, referring to China’s late paramount leader who negotiated Hong Kong’s 1997 return to Chinese rule.


Read more at Reutershttp://www.reuters.com/article/2015/11/05/us-taiwan-china-legacy-insight-idUSKCN0SU1VQ20151105#DWgaDEVMMFXFkCif.99
13
Aug

Colonialism, Invasion, and Atomic Bombs: Asia’s Divergent Histories

On September 3 of each year, Chinese people celebrate their victory over Japan in the Pacific War, which ended in the summer of 1945. This year, which marks the 70th anniversary of that victory, the Chinese government has designated September 3—and the days before and after—a national holiday so that “all Chinese can join the celebration.” The government has also extended an invitation to the leaders of other countries, including North and South Korea, to attend their memorial military parade. However, although they too fought against the Japanese colonial power in the same war, Koreans celebrate the nation’s “day of liberation” from Japanese rule on August 15, not September 3.

For Japan, the day to commemorate (and not to celebrate) is August 6, the day that the U.S. atomic bomb was dropped on the city of Hiroshima. A memorial service honoring the victims of atomic bombs, along with a lantern floating ceremony, is held in the Hiroshima Peace Memorial Park to bear wishes for lasting peace and harmony in the world. Meanwhile, the United States officially “remembers” only the day of the attack on Pearl Harbor, holding an annual memorial parade and commemoration on December 7.

The above examples illustrate how differently the countries involved remember and revisit the memories of an unfortunate past marked by war and colonialism in the Asia-Pacific region. For Chinese and Koreans, Japanese acts of aggression, such as the Nanjing massacre, forced labor, and sexual slavery, are the most crucial in their memories of the war. Accordingly, it is only natural for Chinese to celebrate their victory over Japan and for Koreans to celebrate the day on which they regained national sovereignty from the “vicious” Japanese colonial power. Read more…

28
Jul

El proyecto de reforma financiera emprendido por la Unión Europea tras el estallido de la crisis en 2008, ha venido experimentando diferentes avances. El más significativo hasta la fecha se produjo en 2012, cuando los gobiernos nacionales de los 28 estados miembros decidieron reunirse para formular un marco común de regulación y supervisión bancaria: la Unión Bancaria. Sin embargo, la comisión Juncker ha decidido ir más allá y embarcarse en un nuevo proyecto, que puede calificarse cuanto menos de ambicioso: formar una Unión de Mercados de Capitales en la Unión Europea. La intención de este proyecto es crear un mercado de capitales europeo fuerte y estable, que proporcione financiación al sistema complementariamente al sector bancario.

En Febrero de este año la Comisión decidió publicar un libro verde explicando la idea, con la intención de que los diferentes interesados pudieran transmitir sus objeciones y sugerencias. Hace poco más de un mes que expiró el plazo para expresar opiniones y actualmente dicho organismo está trabajando en la elaboración de un plan de acción que será presentado en septiembre. Jonathan Hill, el comisario europeo de Estabilidad Financiera, Servicios Financieros y Mercados de Capitales de la Unión, ha recalcado en numerosas ocasiones la importancia y los beneficios de este proyecto, que deberá estar completado para 2019.

Bolsa

Los beneficios de la creación de una unión de mercados de capitales para los 28 estados miembros están claros. Las empresas tendrán mayor acceso a numerosas vías de financiación y no serán tan dependientes del crédito bancario, que tanto se ha restringido tras la crisis, para financiarse. Además, el desarrollo de un mercado de capitales común y sólido aumentará la atracción de inversores extranjeros y promoverá una mayor estabilidad financiera. Por lo tanto, la puesta en práctica de este proyecto contribuirá al crecimiento de la Unión Europea y a su estabilidad. Read more…

Publicado el 28 de julio de 2015 en http://blogs.elpais.com.

Carmen Múgica, Master en Relaciones Internacionales en la IE Escuela de Relaciones Internacionales y colaboradora de la Fundación Alternativas.

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