Economic Liberalization and the Race for Non-oil Minerals

The significance of minerals to states dates far back into history. They were primarily strategically important to equip the military. This is still the case, but over the last century, minerals have taken up a new and larger role for ensuring national security. World War II was attributed with Europe＇s mercantilist rule which was strongly based on the realist ideology. After World War II, classical liberal theory presented the means to reduce armed conflicts by increasing economic inter-dependencies among nations and became the foundation of a new economic order with economic liberalization at its heart. Simultaneously, economic security gained growing importance relative to military security, and the definition and scope of critical minerals also reached new dimensions. Over the last few decades, economic liberalization has given way to new players gaining position in global markets. Their increased demand together with the already vast demands of industrialized nations has increased competition in securing critical minerals necessary for economic growth. Not only has economic liberalization led to a free trade, but also to the deregulation of the financial market. This in turn has given way to more flexible financing methods in the minerals industry and inaugurated the consolidation of large firms. This paper explains the significance of non-oil minerals and discusses how economic liberalization has affected the demand and supply of minerals. It would go on to highlight emerging economies, especially China, and examine if liberalization holds in the race for mineral resources or if it will gradually crumple under the strain of securing them.     

International development institutions and national ­economic contexts: neo-liberalism encounters India’s indigenous political traditions

Drawing on the case of India, which since 1991 has been undergoing a far-reaching programme of market-oriented reform, this paper argues that the World Bank and other transnational development actors have been unable to adjust themselves ­sufficiently to indigenous ideological traditions that affect the sustainability of economic liberalization. While markets are becoming increasingly embedded at the level of institutions, they are not achieving what might be termed ‘ideological embeddedness’. The paper maps the ideological context facing market reformers in India by looking at the relationship between, on the one hand, the idea of swadeshi (an indigenous form of economic nationalism), and on the other, three competing forces in Indian politics. The paper concludes by arguing that it is the mutual antipathy among these political forces, rather than any fundamental incompatibility between swadeshi’s precepts and the embedded-market framework, that prevents organizations like the World Bank from adapting swadeshi as an indigenous basis for framing its approach to market embeddedness.     

Economic interdependence and the making of trade policy: Industrial demand for an open market in Japan

Abstract

The central question of this article is how the internationalization of corporate activity has changed the trade policy preferences of Japanese corporations. Using case studies of the automobile and textile industries, the paper tests the hypothesis that as firms strengthen multinational operations, they become more committed to trade liberalization of their home market. Growing multinational operations are one of the major reasons why internationally‐oriented automakers have committed themselves to promoting the opening of keiretsu groups as well as the market access for foreign products. In the textile industry, apparel makers opposed import restrictions because of their overseas productions and intra‐firm trade. Towel manufacturers also opposed restrictions on imports of cotton yarn because they were users of imported yarn. However, large textile producers supported import restrictions in spite of their international links. Their preferences stemmed largely from their desire to maintain their domestic linkages with downstream producers.     

China's defence industries

Abstract

The implementation of foreign direct investment (FDI) policies in China shows that domestic considerations were not the only factors shaping the course of China's opening up to the world economy. Foreign response was often taken into account as the Chinese government felt its way through the process of reform. Focusing on Japanese FDI in China, this article explores the liberalization of China's FDI regime and traces the impact of China's negotiations with and accommodation to pressure from foreign business and governments.     

国际投资自由化背景下我国外资立法的应对思考

在国际投资自由化的趋势下,各国在外资立法方面必然采取相应措施。我国是利用外资的主要国家之一,国际投资的发展定会影响我国在外资立法方面的举措。我国应顺应这一形势的发展,研究国际投资的发展规律,适时修改、订立我国的外资立法。     

WTO的金融服务贸易协定及中国的对策

加入 WTO,我国金融银行业面临的挑战与冲击主要来自于 WTO的金融服务贸易协定及其金融服务贸易自由化宗旨。该协定一方面将促进我国银行业的深化改革 ,另一方面又会产生风险效应。这些风险的形成主要源于我国金融体系的脆弱性。因此 ,面对挑战 ,只有正视自身存在的问题 ,找到差距所在 ,才能抓住时机 ,制定对策 ,有效化解“入世”后的冲击与风险。     

An Anatomy of Mass Protests: The Orange Revolution and Euromaydan Compared

This article surveys and discusses the latest wave of mass protests in Ukraine, the Euromaydan. This study situates the Euromaydan within the history of the other protests in post-communist Ukraine and makes a comparison to the Orange Revolution (the Orange Revolution). The authors recognize the importance of international factors, but argue that Ukrainian domestic political factors contributed significantly not only to the emergence, but also to escalation of the latest conflict in Ukraine. This study tests a theory about the role of institutional factors versus the role of cultural-historic legacies in the process of mass protest formation and conflict development. We argue that institutional factors, such as: governmental policies; the composition of governmental, opposition, and civil society groups; corruption; and timing of legislative activity on most divisive issues in Ukraine have contributed to the conflict escalation in Ukraine.     

Capital Account Liberalization,Financial Structure,and Access to Credit in Latin America

This article revisits the question of whether capital account liberalization improves access to credit by advancing and testing a theory of how the structure of the financial sector shapes the willingness and ability of banks and governments to repress the domestic financial sector. In a highly concentrated financial sector, banks and governments are more willing to reap the benefits of financial openness by suppressing liberalizing reforms to domestic financial policies, and they can also better coordinate with one another to stifle these reforms compared to when the financial sector is diffuse. Using a panel dataset of Latin American and Caribbean countries, I find that capital account liberalization leads to a decrease in loans to private firms and households and an increase in loans to governments and state-owned enterprises when the financial sector is highly concentrated. Only when the financial sector is diffuse does capital account liberalization lead to reforms in entry barriers, directed credit programs, and banking sector supervision, which extends to improved access to credit for private firms and households.