Big tech scrutiny is taking different forms globally

2020 ◽  
Keyword(s):  
United States ◽  
The United States ◽  
Transatlantic Relations ◽  
New Firms ◽  
Content Type ◽  
Access Data ◽  
Us Technology ◽  
The Eu

Significance These concerns extend far beyond the United States, with several countries conducting similar investigations, albeit using different approaches. Impacts Big tech will exploit US ‘digital nationalism’ by arguing that new regulations would weaken US technology vis-à-vis its Chinese rivals. The EU will remain the global regulatory leader for the tech sector, even though this will damage transatlantic relations. Regulations that enable smaller and new firms to access data held by ‘big tech’ will be bitterly contested.

More concentration, less dynamism may dampen US growth

2020 ◽  
Keyword(s):  
United States ◽  
Competition Policy ◽  
Job Creation ◽  
The United States ◽  
New Firms ◽  
Content Type ◽  
Profit Margins ◽  
Sectoral Mobility ◽  
Business Concentration ◽  
The Eu

Subject Impact of greater market concentration. Significance US business concentration has risen since the 1990s, accompanied by higher profit margins, weaker investment and labour accounting for a lower share of income. Research finds that having fewer new firms entering industry is reducing business dynamism and workers’ geographic and sectoral mobility, as well as making it easier for less productive firms to stay in business. In Europe, competition policy is more vigorous and business concentration is lower -- but neither business dynamism nor productivity is notably higher than in the United States. Impacts The benefits that the largest tech firms have produced, such as job creation and tech innovations, have muted criticism of their practices. The giant tech firms that have branched out into other sectors will be targets for breakup and other anti-monopoly actions. The EU is pressing for digital firms’ sales to be taxed in the country of sale; this could help EU firms compete with larger US ones.

Creeping authoritarianism is a real risk in Tunisia

2021 ◽  
Keyword(s):  
United States ◽  
United Arab Emirates ◽  
Prime Minister ◽  
The United States ◽  
Political Crisis ◽  
Content Type ◽  
Real Risk ◽  
Chief Prosecutor ◽  
Moderating Role ◽  
The Eu

Significance He did not name a new prime minister. Over July 25-26, Saied dismissed Prime Minister Hicham Mechichi, dissolved his government, suspended parliament for 30 days, lifted parliamentary immunity and declared himself chief prosecutor, triggering Tunisia’s worst political crisis in a decade. Impacts The Ennahda party could be persecuted once again, this time on corruption charges, as the reconciliation offered excludes its members. Tunisia may become a new ideological battleground, pitting Turkey and Qatar against the United Arab Emirates (UAE), Saudi Arabia and Egypt. The EU, the United States and Algeria have some influence on Tunisia and could perhaps play a moderating role.

EU may struggle to enforce social standards via trade

2021 ◽  
Keyword(s):  
United States ◽  
The United States ◽  
Environmental Standards ◽  
Content Type ◽  
Social Standards ◽  
Investment Agreement ◽  
Trade Deals ◽  
First Time ◽  
Trade Partners ◽  
The Eu

Significance In 2020 the European Commission appointed a Chief Trade Enforcement Officer for the first time, signalling that Brussels is intent on enhancing its capacity to enforce standards agreed in trade deals. However, the EU's experience with South Korea suggests that holding trade partners to account over breaching standards will be difficult. Impacts Relations with trade partners could deteriorate if the EU is seen to be aggressive in enforcing its standards. Concern over China’s willingness to improve labour and environmental standards could impede ratification the EU-China investment agreement. The EU may be reluctant to sanction some partners, such as the United States, that breach labour or environmental standards.

Microsoft hack will widen US-China rifts on cyber

2021 ◽  
Keyword(s):  
United States ◽  
The United States ◽  
Content Type ◽  
Software Market ◽  
Domestic Use ◽  
Software And Hardware ◽  
Chinese State ◽  
Us Technology

Significance Microsoft attributed the first hack exploiting these flaws to a Chinese state-sponsored group. These flaws were subsequently leaked online, and organisations that have failed to install software patches continue to be targeted. Over 30,000 systems have already been compromised in the United States alone, further straining US-China ties. Impacts The ubiquity of US technology will make vulnerabilities in US software a wider cybersecurity risk. Developing indigenous IT software and hardware will be unfeasible for most countries as rifts over 5G have exposed. Although tarnished, Microsoft will benefit from having few competitors in the business and domestic use software market.

China-US deal sets stage for new climate change regime

2015 ◽  
Keyword(s):  
Climate Change ◽  
United States ◽  
Developing Countries ◽  
Global Climate Change ◽  
Global Climate ◽  
The United States ◽  
Content Type ◽  
Bilateral Agreement ◽  
The Eu ◽  
Game Changer

Significance The United States has already committed, in an unprecedented deal with China in November 2014, to reducing its emissions to 26-28% below 2005 levels by 2025 (an improvement on its previous 17% goal). China in return pledged that its emissions would peak around 2030. This agreement is a game-changer for combating global climate change, since the two countries are the world's largest sources of carbon emissions, together accounting for 40% of the total, and were not covered under the now-expired Kyoto Protocol. Impacts Washington is poised to reclaim its place, lost after Kyoto, as a leader in global efforts against climate change. US-China climate cooperation initiatives could serve as templates for other developing countries. There are new opportunities for trilateral cooperation involving the EU. Fears that the bilateral agreement makes the UNFCCC obsolete are unwarranted, but it could preclude more ambitious efforts.

EU may not develop a joint stance on Chinese FDI soon

2016 ◽  
Keyword(s):  
United States ◽  
The United States ◽  
Domestic Economy ◽  
The West ◽  
Economic Strategy ◽  
Content Type ◽  
Foreign Companies ◽  
The Eu

Subject Chinese FDI into Europe. Significance China's hosting of the G20 summit on September 4-5 came as it is recalibrating its foreign economic strategy, becoming a major investor in the West and particularly the EU. With a few notable exceptions, EU governments have been keen to encourage those investments. Impacts While China will continue to relax restrictions on investments into its domestic economy, it is unlikely to reciprocate fully to the EU. Sectors China considers strategic, including defence equipment and infrastructure, will remain out of bounds to foreign companies. Concerns about the geostrategic risk of Chinese investments appear to resonate more strongly in Australia and the United States than the EU.

Turkey attracts East Europe more than Western ‘core’

2017 ◽  
Keyword(s):  
United States ◽  
The United States ◽  
Former Yugoslavia ◽  
Content Type ◽  
East Europe ◽  
Radical Islam ◽  
Turkish State ◽  
Economic Ties ◽  
The Eu

Subject Erdogan’s visit to Serbia. Significance The Turkish president’s visit to Serbia on October 9-11 was much publicised. Recep Tayyip Erdogan received a hero’s welcome at a rally in Novi Pazar, where he appeared alongside Serbian President Aleksandar Vucic. Both governments are keen to boost economic ties. Impacts Size and location make Serbia a key economic and diplomatic partner for Turkey in former Yugoslavia. The Turkish state will continue to claim leadership over Balkan Muslims and seek to contain the influence of radical Islam. All Balkan governments will seek good ties with Turkey and to minimise any fallout from Erdogan’s spat with the EU and the United States.

EU presidency will show up Romania’s peripheral status

2019 ◽  
Keyword(s):  
United States ◽  
Decision Making ◽  
The United States ◽  
Content Type ◽  
Political Warfare ◽  
The Eu ◽  
At Home

Significance The presidency will put Romania's isolation in the spotlight. It has no backers in the EU prepared to overlook its escalating retreat from democratic and reform commitments, and there is no sign that the United States is prepared to act as a counterweight. Impacts Romania is ill-prepared for the presidency while political warfare at home will absorb government energies. It is likely that real decision-making will reside in Brussels with Romania having no more than a ceremonial role. Dragnea’s hostility to Brussels makes a tough EU response likely in response to more creeping authoritarianism.

MiFID II will recast Europe’s financial landscape

2017 ◽  
Keyword(s):  
United States ◽  
United Kingdom ◽  
Financial Stability ◽  
The United States ◽  
Financial Instruments ◽  
Content Type ◽  
The United Kingdom ◽  
The World ◽  
October 17 ◽  
The Eu

Subject MiFID II implementation and compliance Significance The EU’s flagship investor protection reform -- the Markets in Financial Instruments Directive II (MiFID II) -- will come into force on January 3, 2018, Valdis Dombrovskis, the EU Commissioner responsible for financial stability, confirmed on October 17, saying that there would not be a further delay. Despite already having been given an extra year's extension, banks are struggling to comply in time because of the directive's complexity. Regulators, too, are behind in expanding their capacity to enforce it. Impacts Firms across the world that do any of their business within the EU will have to comply, not just those registered in the EU. All firms trading in financial instruments must comply but those where this is a small part of their business may be caught unawares. MiFID II will come into effect before the United Kingdom leaves the EU and is likely to be written into UK law post-Brexit. The United States is keen to deregulate, but US firms whose EU activity is not compliant will be punished, possibly harming US-EU relations.

EU global regulatory influence faces rising challenges

2020 ◽  
Keyword(s):  
United States ◽  
The United States ◽  
Economic Recovery ◽  
Political Values ◽  
Content Type ◽  
Recovery Plan ◽  
Democratic Candidate ◽  
Regulatory Influence ◽  
The Eu

Significance However, the economic and geopolitical environment which facilitated its global regulatory success is changing. Impacts The EU’s unprecedented economic recovery plan should strengthen unity and give it confidence to act stronger on the global stage. Political values will play an increasingly prominent role in shaping the bloc’s relationship with countries such as China. The election of Democratic candidate Joe Biden will not guarantee closer regulatory ties between the United States and the EU.

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