The Pathology of Dependency

2018 ◽  
pp. 742-760
Author(s):  
Ian Taylor
Keyword(s):  
Economic Growth ◽  
Global Economy ◽  
Oil And Gas ◽  
Raw Materials ◽  
Political Life ◽  
Structural Nature ◽  
Dependent Position ◽  
Global Player ◽  
Rise Of China ◽  
The Rise Of China

China’s relations with Nigeria have accelerated since the 2000s, which is linked to the rise of China as a global player, its exponential economic growth and its consumption of raw materials. The material foundations upon which links have been built with China have served to reify Nigeria’s dependent position in the global economy and bear the hallmarks of an unbalanced and exploitative relationship. This fact is now recognized by many Nigerian commentators within civil society and the policymaking elites. The structural nature of Nigeria’s dependent relations with China is becoming more apparent: its trade profile with China is characterized by a lopsided dependence on the export of raw materials, and the import of manufactured goods. Since independence, the ruling cliques within Nigeria have overseen a progressive deepening of dependency on mineral products, resulting in oil and gas becoming the be-all and end-all of Nigerian economic (and thus political) life.

scholarly journals The U.S.-China technological war through the prism of techno-nationalism

2021 ◽  
pp. 29-43
Author(s):  
I. Danilin
Keyword(s):  
United States ◽  
Global Economy ◽  
Technological Development ◽  
Digital Technologies ◽  
The United States ◽  
Market Situation ◽  
Key Factor ◽  
Rise Of China ◽  
The Rise Of China ◽  
The U.S

The “technological war” between the United States and China that started in 2017–2018 raises a number of questions about the future role of technological development as a factor in relations between superpowers. Analysis shows that for the United States this conflict is caused by changing balance of risks and benefits of the liberal model of globalization due to the rise of China`s power and growing geopolitical tensions between the two nations. In this context, emerging, especially digital, technologies appear to be a new battlefield between superpowers. Within the realist framework, actors consider emerging technologies as a key factor for strengthening their global postures. This, among other things, contributes to securitized technological agenda and strengthens its geopolitical dimension. Neo-technonationalism has become the platform that integrates different processes and goals into new U.S. policy. Although historically neo-technonationalism took its roots in Asia, the evolving market situation prompted the United States to rethink existing approaches and to upgrade the techno-nationalist dimension of its policy. Considering similar policies of China and the EU (i. e. the European digital sovereignty policy), this trend shapes new realities of technological “blocs”, the struggle for expansion of technological platforms, and technological conflicts. Taking into account prospective development needs of the global economy and future specification of mutual interest areas, as new digital technologies mature, the ground for normalizing the dialogue between the superpowers will emerge. However, at least in the U.S.–China case, this issue will be complicated by geopolitical contradictions that leave little room for any serious compromise.

The political economy of currency internationalisation: the case of the RMB

2017 ◽  
Vol 43 (4) ◽  
pp. 765-787 ◽  
Author(s):  
Randall Germain ◽  
Herman Mark Schwartz
Keyword(s):  
Political Economy ◽  
Global Economy ◽  
Adjustment Costs ◽  
Critical Element ◽  
International Currency ◽  
Political Consequences ◽  
Trade Offs ◽  
Rise Of China ◽  
External Conditions ◽  
The Rise Of China

AbstractThe rise of China has sparked a debate about the economic and political consequences for the global economy of the internationalisation of the renminbi. We argue that the dominant focus of this literature – primarily the external conditions and requirements for a national currency to become an international currency – misspecifies the connections between the international and domestic requirements for currency internationalisation, as well as the potential to become the dominant international reserve currency. We correct this oversight by developing an integrated theoretical framework that highlights the domestic adjustment costs which a state must accommodate before its currency can carry the weight of internationalisation. These costs constitute a critical element of an international currency’s ‘political economy’, and they force states to negotiate contentious social trade-offs among competing domestic claims on finite public resources in a sustainable manner. Our analysis suggests that the likelihood of China being able to successfully negotiate the social costs associated with running a fully internationalised currency is currently very low, precisely because this will place unacceptable pressure on groups benefiting from the economic and political status quo. This further suggests that the American dollar will remain unchallenged as the global economy’s pre-eminent international currency for the foreseeable future.

scholarly journals Environment Potential and Adjusting of Gross Domestic Product to the Safe Industrial Development

2018 ◽  
Vol 41 ◽  
pp. 04001
Author(s):  
Michal Cehlár ◽  
Zou Liang ◽  
Lian Wan ◽  
Khanindra Madauri ◽  
Sergey Krysin
Keyword(s):  
Economic Growth ◽  
Global Economy ◽  
Industrial Development ◽  
Raw Materials ◽  
High Tech ◽  
Negative Consequences ◽  
Resource Base ◽  
Environmental Goods ◽  
Goods And Services ◽  
Social And Economic Development

The importance of the natural resource and environmental factors in the development of the modern economy is becoming more important in the context of energy security and the quality of economic growth. This is also due to the fact that the state’s policy in increasing GDP has been adjusted to a qualitative social-and-economic development. In this regard, the quantitative measurement of the quantity and quality ratio of economic growth is relevant. The rise of the global economy as a whole and its individual territories is due to both a high-tech breakthrough and the development of raw materials industries – oil, gas, coal and metallurgy. Currently, to meet the needs of society in natural resources, environmental goods and services, ever-increasing costs are required for expanded reproduction of the mineral resource base and compensation for negative consequences resulting from the degradation of ecological systems and pollution of the natural environment.

scholarly journals China’s quest for oil: Brazil-China relations in the oil sector (2000-2018)

2021 ◽  
Vol 18 (1) ◽  
pp. 16-27
Author(s):  
Rafael Almeida Ferreira Abrão
Keyword(s):  
Energy Consumption ◽  
Oil And Gas ◽  
Energy Sector ◽  
Economic Approach ◽  
Major Power ◽  
Rise Of China ◽  
Oil Sector ◽  
The Rise Of China ◽  
Oil And Gas Sector

The aim of this article is to examine the increasing relations between Brazil and China in the oil and gas sector. In a political and economic approach, the objective is to understand the development of relations between the two countries amid the rise of China as a major power and as the world's main energy consumption center, by identifying the growth of Chinese influence in the energy sector through trade, investment and finance.

EU will be reluctant to change competition policy

2019 ◽  
Keyword(s):  
Competition Policy ◽  
Global Economy ◽  
Rolling Stock ◽  
Content Type ◽  
Industrial Companies ◽  
Rise Of China ◽  
Competition Rules ◽  
Eu Competition Policy ◽  
Railway Engineering ◽  
The Rise Of China

Subject EU competition policy. Significance The European Commission will decide next month whether to allow a merger between the railway engineering businesses of Siemens (Germany) and Alstom (France), two of the largest European industrial companies. The proposed merger and the Commission’s oversight of it have reopened a debate about the relationship between competition policy and the strategic competitiveness of European firms in the global economy, with the rise of China a particular concern. Impacts The United Kingdoms' exit from the EU will be a blow to the Nordic countries and Ireland, all sceptical of EU competition rules. The transport market for new rolling stock and infrastructure may be hit by a global slowdown. Siemens could seek a merger with Canadian transport company Bombardier if the proposed Siemens-Alstom merger is prohibited.

Theoretical, methodological and practical development in strategic management of agro-economic growth in regions of the Russian Federation within the context of global and national trends in the formation of integrated economic relations

2021 ◽  
Vol 7 (Extra-A) ◽  
pp. 155-160
Author(s):  
Zhansurat Sultanovna Zhangorazova ◽  
Eldar Safarovich Bakkuev ◽  
Elvira Ruslanovna Kokova ◽  
Rukiyat Omarovna Ugurchieva ◽  
Tatyana Evgenievna Khorolskaya
Keyword(s):  
Economic Growth ◽  
Russian Federation ◽  
Global Economy ◽  
Large Scale ◽  
Raw Materials ◽  
Import Substitution ◽  
High Tech ◽  
Industrial Complex ◽  
Resource Saving ◽  
The Russian Federation

Modern conditions for the global economy development clearly indicate that the formation of competitive agrarian economy advantages in the Russian Federation is possible only with the use of an innovative development scenario and the large-scale use of the scientific and technological potential of high-tech industries. Of course, the complex of the most important criteria for the economic growth of the national economy determines the volume of the high-tech sector and the scientific and technical potential of the country at the present stage. The situation in the Russian market clearly implies the need for a quick solution to the main problems of developing high-tech sectors in the agro-industrial complex, accelerating import substitution and ensuring sustainable food security based on resource-saving technologies of agro-industrial production and deep processing of agricultural raw materials.

Recovery experiences of the Russian economy: The patterns of the post-shock growth after 1998 and 2008 and future prospects

2021 ◽  
pp. 5-31
Author(s):  
I. B. Voskoboynikov ◽  
E. F. Baranov ◽  
K. V. Bobyleva ◽  
R. I. Kapeliushnikov ◽  
D. I. Piontkovski ◽  
...  
Keyword(s):  
Global Economy ◽  
Production Efficiency ◽  
Oil And Gas ◽  
Raw Materials ◽  
Growth Stimulation ◽  
Sustainable Growth ◽  
Russian Economy ◽  
Catching Up ◽  
Long Run ◽  
Post Shock

The global economy is in recession due to the pandemic of the coronavirus infection COVID-19. Russia’s GDP in 2020 fell by 3.1% in relation to the level of 2019, so that the decline was more moderate than in 1998 (–5.3%) and 2009 (–7.8%). In the coming years, the Russian economy will have to recover and enter a new long-term growth path. At what expense and in which industries will this happen? Based on the experience of previous crises and using industry accounts of economic growth and Russia KLEMS data, we have examined possible sources of recovery of the Russian economy after the crisis of 2020. By analogy with the recovery after 2008—2009, it is likely to be associated with increased demand for raw materials on world markets and the reaction of the Russian oil and gas complex. Stagnation after 2008—2009 is due to a decrease in production efficiency, especially in the expanded mining complex (EMC), as well as the cessation of technological catching-up. Growth stimulation measures should include increasing the efficiency of the EMC, providing the adaptation of advanced technologies, and preserving existing adaptation channels in times of crisis — for example, successful export-oriented industries integrated into global value chains. In the long run sustainable growth assumes diversification of the economy.

Fostering Stability or Creating a Monster? The Rise of China and U.S. Policy toward East Asia

2006 ◽  
Vol 31 (1) ◽  
pp. 81-126 ◽  
Author(s):  
Thomas J. Christensen
Keyword(s):  
Economic Growth ◽  
East Asia ◽  
The United States ◽  
The Other ◽  
Security Strategy ◽  
Rise Of China ◽  
Regional Influence ◽  
Zero Sum ◽  
The Rise Of China

This article explores two starkly contrasting analytic approaches to assessing the performance of U.S. security strategy in East Asia since 1991: a positivesum approach, emphasizing the danger of security dilemmas and spirals of tension, and a zero-sum approach, emphasizing power competition and the long-term dangers posed by China's rise. In the policy world, the differences between these apparently irreconcilable perspectives are not so clear. Certain policies—for example, maintaining a strong U.S.-Japan alliance—flow from either logic. Moreover, each approach sometimes counsels counterintuitive policy prescriptions that are generally associated with the other. Relatively assertive U.S. security postures apparently have furthered positive-sum regional goals by catalyzing China to adopt reassuring policies toward its neighbors as a hedge against potential U.S. encirclement. From a zero-sum perspective, the United States often competes more effectively for regional influence by cooperating with China than it would by seeking to contain China's economic growth and diplomatic influence.

South Africa’s International Trade

2021 ◽  
pp. 440-466
Author(s):  
Lawrence Edwards
Keyword(s):  
Open Economy ◽  
Global Economy ◽  
Import Substitution ◽  
Historical Context ◽  
Firm Level ◽  
Tariff Reform ◽  
Rise Of China ◽  
Tariff Liberalization ◽  
The Rise Of China ◽  
The Impact

This chapter uses South Africa’s integration in the global economy as a lens to understand the dynamics behind South Africa’s current economic performance. It first presents the historical context, commencing from the country’s position as a gold exporter pursuing an import substitution industrialization strategy, to its transition to a more open economy with the ending of sanctions and tariff liberalization from the early 1990s. The focus then shifts to a critical assessment of South Africa’s trade performance and trade policy in the post-apartheid period. This covers the impact of government policies, such as the multilateral tariff liberalization from 1994 to 2000, preferential tariff reform from 2000 and sector-driven industrial policy from 2007, as well as the dramatic changes in the global trading order—the rise of China from 2001, and the emergence of global value chains. To illustrate these relationships, the chapter draws on new insights using disaggregated product- and firm-level trade data.

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