Financial media, globalisation, and China’s economic integration: comparing narrative construction of the Economist and Caijing

In June 2015, legal frameworks of the Asian Infrastructural Investment Bank were signed by its 57 founding members. Proposed and initiated by China, this multilateral development bank is considered to be an Asian counterpart to break the monopoly of the World Bank and the International Monetary Fund. In October 2015, China’s Central Bank announced a benchmark interest rate cut to combat the economic slowdown. The easing policy coincides with the European Central Bank’s announcement of doubts over US Fed’s commitment to raise interest rates. Global stock markets responded positively to China’s move, with the exception of the indexes from Wall Street (Bland, 2015; Elliott, 2015). In the meantime, China’s ‘One Belt, One Road’ (or New Silk Road Economic Belt) became atopic of discourse in relation to its growing global economy, as China pledged $40 billion to trade and infrastructure projects (Bermingham, 2015). The foreign policy aims to reinforce the economic belt from western China through Central Asia towards Europe, as well as to construct maritime trading routes from coastal China through the South China Sea (Summers, 2015). In 2012, The Economist launched a new China section, to reveal the complexity of the‘meteoric rise’ of China. John Micklethwait, who was then the chief editor of the magazine, said that China’s emergence as a global power justified giving it a section of its own(Roush, 2012). In July 2015, Hu Shuli, the former chief editor of Caijing, announced the launch of a think tank and financial data service division called Caixin Insight Group, which encompasses the new Caixin China Purchasing Managers Index (PMI). Incooperation with with Markit Group, a principal global provider of PMI, the index soon became a widely cited economic indicator. One anecdote from November’s Caixin shows how much has changed: in a high-profile dialogue between Hu Shuli and Kevin Rudd, Hu insisted on asking questions in English; interestingly, the former Prime Minister of Australia insisted on replying in Chinese. These recent developments point to one thing: the economic ascent of China and its increasing influence on the power play between economics and politics in world markets. China has begun to take a more active role in rule making and enforcement under neoliberal frameworks. However, due to the country’s size and the scale of its economy in comparison to other countries, China’s version of globalisation has unique characteristics. The ‘Capitalist-socialist’ paradox is vital to China’s market-oriented transformation. In order to comprehend how such unique features are articulated and understood, there are several questions worth investigating in the realms of media and communication studies,such as how China’s neoliberal restructuring is portrayed and perceived by different types of interested parties, and how these portrayals are de-contextualised and re-contextualised in global or Anglo-American narratives. Therefore, based on a combination of the themes of globalisation, financial media and China’s economic integration, this thesis attempts to explore how financial media construct the narratives of China’s economic globalisation through the deployment of comparative and multi-disciplinary approaches. Two outstanding elite financial magazines, Britain’s The Economist, which has a global readership and influence, and Caijing, China’s leading financial magazine, are chosen as case studies to exemplify differing media discourses, representing, respectively, Anglo-American and Chinese socio-economic and political backgrounds, as well as their own journalistic cultures. This thesis tries to answer the questions of how and why China’s neoliberal restructuring is constructed from a globally-oriented perspective. The construction primarily involves people who are influential in business and policymaking. Hence, the analysis falls into the paradigm of elite-elite communication, which is an important but relatively less developed perspective in studying China and its globalisation. The comparing of characteristics of narrative construction are the result of the textual analysis of articles published over a ten-year period (mid-1998 to mid-2008). The corpus of samples come from the two media outlets’ coverage of three selected events:China becoming a member of the World Trade Organization, its outward direct investment, and the listing of stocks of Chinese companies in overseas exchanges, which are mutually exclusive in sample collection and collectively exhaustive in the inclusion of articles regarding China’s economic globalisation. The findings help to understand that, despite language, socio-economic and political differences, elite financial media with globally-oriented readerships share similar methods of and approaches to agenda setting, the evaluation of news prominence, the selection of frame, and the advocacy of deeply rooted neoliberal ideas. The comparison of their distinctive features reflects the different phases of building up the sense of identity in their readers as global elites, as well as the different economic interests that are aligned with the corresponding readerships. However, textual analysis is only relevant in terms of exploring how the narratives are constructed and the elements they include; textual analysis alone prevents us from seeing the obstacles and the constrains of the journalistic practices of construction. Therefore, this thesis provides a brief discussion of interviews with practitioners from the two media, in order to understand how similar or different narratives are manifested and perceived, how the concept of neoliberalism deviates from and is justified in the Chinese context, and how and for what purpose deviations arise from Western to Chinese contexts. The thesis also contributes to defining financial media in the domain of elite communication. The relevant and closely interlocking concepts of globalisation, elitism and neoliberalism are discussed, and are used as a theoretical bedrock in the analysis of texts and contexts. It is important to address the agenda-setting and ideological role of elite financial media, because of its narrative formula of infusing business facts with opinions,which is important in constructing the global elite identity as well as influencing neoliberal policy-making. On the other hand, ‘journalistic professionalism’ has been redefined, in that the elite identity is shared by the content producer, reader and the actors in the news stories emerging from the much-compressed news cycle. The professionalism of elite financial media requires a dual definition, that of being professional in the understanding of business facts and statistics, and that of being professional in the making sense of stories by deploying economic logic.

Before identity, gender and human rights

This is the beginning of an exploration of before as the thesis ‘before’ (temporally) and ‘be-fore’ (spatially) difference. Before denotes the origin and the desired destination. Before (in the double sense of ‘before’ and ‚be-in-the-fore’) opens up a space of pre-difference, of origin and of forgotten memory, as well as a space of desire, objective, illusion of teleology, unity, completion. Applied to the two domains of Human Rights and Sex/Gender, the space of ‘before’ yields two slightly different vistas: in human rights, a premodern, functionally undifferentiated society which had to invent human rights as its safeguards of functional differentiation. In Sex/Gender, 'before' brings a self-referential construction: that of ipseity, as the form of identity beyond comparison that does not play with id but with ipsum. Ipseity is inoperable but not useless. It is inoperable because it cannot be observed from anywhere without suffering rupture. It is not useless because it offers a ground for the reconceptualisation of difference, both through awe and desire.

Book review: Jiří Přibáň, legal symbolism: on law, time and European identity

This is a book review of Jiří Přibáň, Legal Symbolism: On Law, Time and European Identity, Ashgate, Aldershot, 2007, 226 pp, ISBN: 978-0-7546-7073-5

(Un)settling the Irish emigrant identity: representation and construction of an Irish emigrant/exile identity in the travel narratives of Kathleen Nevin and William Bulfin

Through an examination of the travel works of William Bulfin, Tales of the Pampas (1900) and Kathleen Nevin's You'll Never Go Back this paper considers the representation of the Irish in Argentina and the contribution of these narratives in the construction of identity and the reconstruction of the emigrant identity into an exilic one. Escaping one colonial framework (Britain/Ireland), travelling to and writing from within another postcolonial construct (Argentina and the Spanish Empire), this paper analyses how Bulfin and Nevin use language as a tool to construct, and even invent, an Irish identity. This identity is inextricably linked to home and the desire to return there. Despite this desire, Argentina becomes internalised to some extent, which in Bulfin can be seen in the mix of the Spanish, English and Irish languages in his stories, highlighting that the Irish were doing with language what they had already done with their lives; trying to adapt it to their new situation. In Nevin, the contrast between us and them (Irish and 'Native') demonstrates her attempts to shape an exilic rather than emigrant mentality. Through these texts I analyse how Argentina never quite becomes a new home, but a place where Irish identity is played out and acquires form.

Democracy, cosmopolitanism and national identity in a ‘globalising’ world

Broadly globalising processes have been in train for centuries, but contemporary discourse about globalisation is here located within a specific historical context, particularly characterised by new forms of communications and the pressures on states produced by the decline of Keynesianism and the end of the Cold War. Coincident changes also led to a growing interest in national identities, marked not least by the founding of this journal in 1999. Globalisation, a series of processes rather than a single force, has a range of effects on states, nations and national identities, including accommodation and adaptation as well as resistance. Indeed, globalising forces, such as democratisation, are shown to require nation-building. Attempts to impose order on international society through cosmopolitan devices are arguably more inimical to national identities. As with nations, cosmopolitanism involves an imagined community. Because this necessarily exists outside time, the building of a sense of trust and commonality across people and territory is however more challenging. Without popular ownership, it is argued, cosmopolitanism is often more likely to appear a threat than a boon. Building a global civil society, or indeed local democracies, is also unlikely when so many societies still lack local versions anchored in some form of national identity.

Reflections on conducting research on the ‘war on terror’: religious identity, subjectivity and emotions

In recent years there has been an increase in literature which has explored the insider/outsider position through ethnic identities. However, there remains a neglect of religious identities, even though it could be argued that religious identities have become increasingly important through being prominent in international issues such as the ‘war on terror’ and the Middle East conflict. Through drawing on the concept of subjectivity, I reflect on research I conducted on the impact of the ‘war on terror’ on British Muslims. I explore the space between the insider/outsider position demonstrating how my various subjectivities – the ‘non-Islamic appearance I’, the ‘Muslim I’, the ‘personal I’, the ‘exploring I’, the ‘Kashmiri I’ or the ‘Pakistani I’, the ‘status I’ and the ‘outsider I’ – assisted in establishing trust, openness and commonality. I conclude by demonstrating how the ‘emotional I’ allowed me to manage my own emotions and participants emotions.

The artist biopic: a historical analysis of narrative cinema, 1934-2010

The thesis provides an historical overview of the artist biopic that has emerged as a distinct sub-genre of the biopic as a whole, totalling some ninety films from Europe and America alone since the first talking artist biopic in 1934. Their making usually reflects a determination on the part of the director or star to see the artist as an alter-ego. Many of them were adaptations of successful literary works, which tempted financial backers by having a ready-made audience based on a pre-established reputation. The sub-genre’s development is explored via the grouping of films with associated themes and the use of case studies. These examples can then be used as models for exploring similar sets of data from other countries and time periods. The specific topics chosen for discussion include the representation of a single painter, for example, Vincent Van Gogh, to see how the treatment of an artist varies across several countries and over seventy years. British artist biopics are analysed as a case study in relation to the idea of them posing as a national stereotype. Topics within sex and gender studies are highlighted in analysis of the representation of the female artist and the queer artist as well as artists who have lived together as couples. A number of well-known gallery artists have become directors of artist biopics and their films are considered to see what particular insights a professional working artist can bring to the portrayal of artistic genius and creation. In the concluding part of the thesis it is argued that the artist biopic overall has survived the bad press which some individual productions have received and can even be said to have matured under the influence of directors producing a quality product for the art house, festival and avant-garde distribution circuits. As a genre it has proved extremely adaptable and has reflected the changing attitudes towards art and artists within the wider community. It has both encouraged renewed interest in the work of established national artists and also raised the profile of those relatively obscure such as Séraphine de Senlis and Pirosmani.