The SDLP and the Europeanization of the Northern Ireland Problem

This article explores the various ways in which the Social Democratic and Labour Party (SDLP) has used Europe – as a source of financial aid, political support, ideas and inspiration – in its attempts to resolve the Northern Ireland conflict. In this, the piece considers the SDLP, not as a subject, but rather as an advocate of the Europeanization of the Northern Ireland problem. In particular, it looks at the role of John Hume, a founding member and later leader of the SDLP, who inculcated a strongly pro-European outlook within the party. In doing so, the article considers the success of Hume and the SDLP in their efforts to bring a European influence to bear on Northern Ireland, especially in relation to the peace process and the 1998 Agreement. However, it also looks at both the limitations of this influence, and the problems involved with the SDLP's pro-European approach, particularly since Hume's departure as party leader in 2001. In conclusion, the article suggests that the party may have been ‘over-Europeanized’, with its long-term focus on European issues and ideas now becoming electorally disadvantageous. In this way, the Europeanization of the Northern Ireland problem, and by extension the SDLP, has proven costly to the party.

China's Sovereign Wealth Funds: Problem or Panacea?

China’s impressive economic growth has led to the accumulation of massive financial assets. The emergence of sovereign wealth funds (SWFs), as a governmental investment device for its excessive foreign reserves, symbolizes a major rebalancing of economic power. With its investment portfolios drastically diversified for well-established financial institutions as well as some strategic sectors, a seminal debate seems centered on whether China’s SWFs are in furtherance of purely commercial or geopolitically strategic purposes. Under the sophisticated hard laws associated with international initiatives, it is unlikely that the SWFs-related investment would distort the global financial system, and genuinely threaten national security, which assumption may only exist at a hypothetical level. The potential protectionism would inevitably retard the world economy’s recovery, were it not to be proportionately addressed. A most significant necessity appears to be to strike a proportionate balance between sustaining the credibility of open investment environment and efficiently minimizing implications of SWFs political arenas.