论主权财富基金的兴起及其对国际金融体系的影响

2000年以来,主权财富基金在全球迅速兴起。本文就主权财富基金兴起的原因及其对国际金融体系的影响进行了深入分析和探讨,认为不合理的国际金融体系即美元的霸权地位是主权财富基金兴起的根本原因。主权财富基金的兴起对国际金融体系的影响主要表现为八个方面,即加剧国际金融市场的不稳定性,导致金融保护主义抬头,削弱美元的霸权地位,加剧新兴市场泡沫,改变全球外国直接投资的格局,引发全球资本市场的再国有化现象,对国际资产价格产生影响,改变全球经济秩序等。     

论主权财富基金的兴起及其对国际金融体系的影响

2000年以来,主权财富基金在全球迅速兴起.本文就主权财富基金兴起的原因及其对国际金融体系的影响进行了深入分析和探讨,认为不合理的国际金融体系即美元的霸权地位是主权财富基金兴起的根本原因.主权财富基金的兴起对国际金融体系的影响主要表现为八个方面,印加剧际金融市场的不稳定性,导致金融保护主义抬头,削弱美元的霸权地位,加剧新兴市场泡沫,改变全球外国直接投资的格局,引发全球资本市场的"再国有化"现象,对国际资产价格产生影响,改变全球经济秩序等.     

钓鱼岛与南中国海主权争端的现状及前景

钓鱼岛与南中国海主权争端的现状及前景丛俊一、引言东亚地区的领土、资源争端是冷战结束后亚太地区一个潜伏的不稳定因素。中国与日本在钓鱼岛的主权归属问题上存在分歧，中国与东南亚一些国家对南沙群岛的主权存在不同意见。由于这些争端情况之复杂，牵涉国家之多，实属...     

当前东南亚民族分裂背后的美国因素

本文主要分析和论述美国因素在东南亚国家民族分裂中的影响.本文在第一部分总结东南亚各国民族分裂的现状,分析民族分裂活动共同的特点,通过事实说明美国确实与东南亚各种民族分裂势力存在联系.第二部分从国际格局和具体国家具体分析两个层次入手,深入剖析美国因素如何发挥影响,并辅以佐证.本文通过这一部分的分析得出一个显而易见的结论,即美国的干涉是东南亚民族分裂活动愈演愈烈的重要原因之一.东南亚国家迄今没有如美国所期望的那样变得四分五裂的原因是它们对美国的干涉行为进行了坚决的卓有成效的抗争和抵制.本文在第三部分总结东南亚国家抵御美国强权干预、维护民族国家统一的有效措施.同时,这些颇有成效的措施可以给中国一些有益的启示,以应对台独、藏独、疆独等问题,维护国家统一.     

债券基金岂能少

股市的调整对于股票基金常常会造成一定程度的打击,而债券基金则往往能在大跌中独善其身。通过投资理财实现充分的财务自由,这是现在很多都市人对财富人生的重要规划。基金作为理财产品现在已被越来越多的人所熟知。不过,基金具有很强的专业性,不同基金产品具有不同的风险收益特征。     

"安全困境"与印度对华战略逻辑

虽然客观的物质要素是造成安全困境的根源,但主观的心理要素对安全困境具有弱化与强化的双重功能,是导致国际关系中安全困境能否超越"自然率"的一个重要因素。物质性要素,特别是军事实力和经济实力所构成的威胁,与非物质要素,特别是意图不确定和认知不对等所塑造的观念共同作用,导致了安全困境的产生,进而影响了不确定性下行为体应对国际环境变化与追求国家利益的对外战略选择。当前,中印共同崛起带来的双方对彼此战略意图的不确定性、认知不对等以及印度单方面敌意身份的建构所形成的安全困境,塑造着印度对华战略逻辑以及对华政策中的"有限合作"与"摇摆"特征。为此,中印关系包括孟中印缅经济走廊建设应适度考虑印度的安全诉求,努力推进贸易与投资合作为主体的双边与区域合作。当区域经济合作的需求达到一定程度,陆地的重要性就会凸显出来,从而使次区域合作中的安全困境得以弱化。     

中国企业投资越南的主要国家风险与防范

国家风险是中国企业海外投资过程中面临的主要非商业风险之一。本文对中国企业在越南投资的主要国家风险进行了分析,认为在越南投资可能面临的国家风险主要集中在政府违约、政府效率和官员腐败等问题上,越南的罢工问题、各种突发性公共安全事件和自然灾害等也会带来一定的投资风险,同时,中越两国在南海问题上的争议,也是影响中国企业在越南投资前景和安全的主要不确定性因素。     

德国：由主权统一到内部统一

1990年10月德国结束了占领国对其主权的限制,实现了主权统一;近14年来,德国政府致力于内部统一、实现政治、法律、经济、社会制度一体化.德国内部统一虽是一个内政问题,但这也受制于经济全球化这一外部因素.经济全球化对主权国家的冲击必然影响主权国家对本国公民利益的保护.德国的改革历程显示了在产品、资本、劳动力全球化的背景下民族国家经济主权的局限性.     

南海问题的合作安全与集体安全之辩

南海问题关系到中国的国家利益,中国对南海拥有无可争议的主权。但因为多方面的原因,南海问题在今天演变为一个涉及"六国七方"且有域外势力插手的主权争端问题。近期来,因区域外势力强势介入及南海周边某些国家的不负责行为,南海因主权争端而出现紧张局面。维护南海和平,符合所有相关国家的利益,也是大多数国家的愿望。在南海主权争端问题上,目前出现了集体安全与合作安全两种理念。比较两者,合作安全更有利于南海主权争端的解决与持久和平。     

新马岛屿争端之判决:依据与启示

2008年5月23日,国际法院对新马岛屿之争做出判决,将白礁岛判给了新加坡.国际法院的判词表明:有力的证据,即官方在争端事项上代表政府权力行使的言词及行为是新加坡赢得白礁岛主权的关键.因此,进行相关研究,为通过法律途径解决中国与他国之间的领土争端解决提供充分的理论和事实依据,具有重要的意义.国际法院对一些证据效力的判定也启示我们:在涉及领土争端的问题时,国家间关系的利益权衡固然重要,但在权衡时,也要尽可能地考虑这种权衡将来在法庭上可能产生的证据因素和影响.     

The emerging role of sovereign wealth fund as an economic growth avenue for Nigeria: lessons from the Singapore experience

In 2011, Nigeria legally established a sovereign wealth fund (SWF) with a view to find a lasting solution to the frequent short-fall of funds needed for key budgetary and infrastructural developments in the country. This is as a result of the volatility in the price of crude oil which is Nigeria’s major source of foreign exchange revenue. This article examines the role that Nigeria’s SWF could play in the economic growth of the country. Importantly, as Nigeria continues to struggle with its first economic recession in decades, the article suggests it needs to adopt lessons from Singapore’s SWF experience.     

Oil Funds: Perils and Opportunities

Soaring oil prices since the early 2000s has led to a historic transformation of wealth from consuming regions to major oil exporters. In recent years many of these exporters have set up oil funds to utilize their massive and growing oil revenues. These funds are divided into two categories – stabilization and saving funds. Their large investments in Western markets have raised concern that they might be driven by political and strategic interests rather than commercial concerns. This study examines oil funds in the Persian Gulf. It discusses US and European proposals to regulate oil fund investments and argue against excessive regulation.     

Sovereign risk: Gulf sovereign wealth funds as engines of growth and political resource

ABSTRACT

The economic reform agenda moving across the Gulf Cooperation Council states precipitated by the end of a decade-long run of high oil prices, high population growth rates, and costly demands on the provision of generous state services and subsidies has had some unexpected consequences. The reformulation of state-society relations, especially with regard to ideas of how to create economic growth and how to model a future social contract, challenges the accepted literature and construct of rentierism. This essay focuses on one distinctive site of these shifting relations between rentier states and their citizens: the sovereign wealth fund (SWF). SWFs are based upon the shared rents from oil production, but as they have evolved they are also becoming transformative in new national development strategies. Some SWFs now veer from traditional practices of safeguarding wealth to more experimental and high-risk strategies that claim to be able to diversify national economies from oil dependency, while also promising high returns. The current moment of late rentierism heightens questions of ownership and of the state’s role as guardian or steward of society’s wealth. Using SWFs to examine state-society relations and rentierism across the Gulf, this article focuses on the Saudi case.     

The Inextricable Link Between Sovereign Debt and Pensions in Argentina, 1993–2010

Established with the reform of 1993, Argentina's private pension funds became crucial sources of credit for the national government. They purchased large amounts of sovereign bonds defaulted on in 2001 and hence were key to the success of the debt restructuring of 2005. The private pillar was always vulnerable to political maneuvering; the nationalization of private pension funds in 2008 was only the last stage in an iterated process of state intervention, a function of public debt dynamics. This article argues that the financial pressures associated with Argentina's sovereign debt burden systematically shortened the temporality of pension policy decisions, taking those away from long‐term concerns about the stability of the social security system and toward the immediacy of debt‐financing imperatives. Therefore, the politics of pension reform reversal in Argentina were determined by the increasingly strong and inextricable link between debt and pensions.     

俄罗斯的“主权民主”思想

以普京2005年国情咨文为标志,俄罗斯提出了主权民主思想。当前,主权民主思想对于俄罗斯发展的重要意义已经超出了意识形态的范畴,它反映了俄罗斯联邦当前和今后一段时期的状态。本文论述了俄罗斯主权民主思想提出的历史背景、形成基础、发展过程、政治内涵、政治影响及其政治前景。     

Civil and civic death in the new authoritarianisms: punishment of dissidents through juridical destruction,ethical ruin,and necropolitics in Turkey

ABSTRACT

Since the Turkish government’s recent turn to authoritarianism, tens of thousands of public dissidents and government critics have been subjected to dismissals and revocation of civic rights via emergency decrees. The victims call this process ‘civil death’. We aim to understand the logic behind this form of punishment in Turkey by examining the differential genealogy of civil death in the work of Hannah Arendt, Bertrand Ogilvie, Giorgio Agamben, and Achille Mbembe. We demonstrate that a later form of civil death was used by totalitarian regimes in a process leading to the reduction of targeted individuals as ‘superfluous’ and as ‘living corpses’ in concentration camps. In these contexts, death became an instrument of biopolitical and necropolitical powers. We propose that although contemporary punishment of public dissidents in Turkey shares some similarities with these forms of civil death, it may more fittingly be identified as civic death. We argue that while civil death is based on the classical political right of the sovereign to ‘make die’ after first reducing targeted individuals to little more than living corpses, civic death is linked to the power of the sovereign to ‘let die’ through the exclusion of public dissidents from economic, social, and political life.     

Clientelism and Social Funds: Evidence from Chávez's Misiones

The latest president in Latin America to adopt social funds on a large scale as an integral part of his government program has been Hugo Chávez Frías of Venezuela. Based on the literature on clientelism and social funds in Latin America, this article finds that Venezuela's latest experiments with social funds were influenced by political variables. It uses empirical data from the distribution of resources for some of the subnational misiones programs to show how, given increased levels of electoral competition and weak institutional constraints, the government used these funds clientelistically, even while distributing oil income to the very poor. Chávez's misiones served two very different purposes: to manipulate the political context and to distribute funds directly to the low-income population.     

Proxy agents,auxiliary forces,and sovereign defection: assessing the outcomes of using non-state actors in civil conflicts

Abstract

This article interrogates the role of non-state armed actors in the Ukrainian civil conflict. The aim of this article is twofold. First, it seeks to identify the differences between the patterns of military intervention in Crimea (direct, covert intervention), and those in the South-East (mixed direct and indirect – proxy – intervention). It does so by assessing the extent of Russian troop involvement and that of external sponsorship to non-state actors. Second, it puts forward a tentative theoretical framework that allows distinguishing between the different outcomes the two patterns of intervention generate. Here, the focus is on the role of non-state actors in the two interventionist scenarios. The core argument is that the use of non-state actors is aimed at sovereign defection. The article introduces the concept of sovereign defection and defines it as a break-away from an existing state. To capture the differences between the outcomes of the interventions in Crimea and South-East, sovereign defection is classified into two categories: inward and outward. Outward sovereign defection is equated to the territorial seizure of the Crimean Peninsula by Russian Special Forces, aided by existing criminal gangs acting in an auxiliary capacity. Inward sovereign defection refers to the external sponsorship of the secessionist rebels in South-East Ukraine and their use as proxy forces with the purpose of creating a political buffer-zone in the shape of a frozen conflict. To demonstrate these claims, the article analyses the configuration of the dynamics of violence in both regions. It effectively argues that, in pursuing sovereign defection, the auxiliary and proxy forces operate under two competing dynamics of violence, delegative and non-delegative, with distinct implications to the course and future of the conflict.     

State Sovereignty and Private Military and Security Companies in Australia

Private Military and Security Companies (PMSCs) as active participants within global security environments has increased in the last two decades exponentially. States have progressively incorporated PMSCs in their security functions, both domestically and internationally. Since the conflict in Iraq in the early 2000s, there have been numerous plausible reports of PMSCs violating international humanitarian law. Despite this, only a few have ever been prosecuted, suggesting a fundamental challenge to understandings regarding state control and monopoly over violence. Utilising a historical case study of an Australian PMSC in Operation Iraqi Freedom, this article argues that PMSCs undermine Australian sovereign legitimacy. It demonstrates how Australian oversight and accountability regarding its use of PMSCs is significantly fractured and current regulatory mechanisms concerning PMSCs are deficient. Thus, the Australian government's ability to provide control over the actions of PMSCs is diminished, affecting its sovereign legitimacy and ability to monopolise violence. The article overall conveys the dubious position states come into when the use-of-force is wielded by actors for distinct material incentives.     

Assessing economic growth in the Asian NICs

Little else is required to carry a state to the highest degree of opulence from the lowest barbarism, but peace, easy taxes, and a tolerable administration of justice…. The natural effort of every individual to better his own condition, when suffered to exert itself with freedom and security, is so powerful a principle that it is alone, and without any assistance, not only capable of carrying on the society to wealth and prosperity, but of surmounting a hundred impertinent obstacles with which the folly of human laws too often encumbers its operation.

The third and last duty of the sovereign or commonwealth is that of erecting and maintaining those public institutions and those public works, which, though they may be in the highest degree advantageous to a great society, are, however, of such a nature, that the profit could never repay the expense to any individual or small number of individuals, and which it therefore cannot be expected that any individual or small number of individuals should erect or maintain. The performance of this duty requires too very different degrees of expense in the different periods of society. (Adam Smith, The Wealth of Nations, Cannan edition, Chicago, 1976, Vol. I, pp. 49–50 and Vol. II, p. 244).