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.

The Conversation: Why leaving the euro is back on the agenda in the Greek election

Greece leaving the euro is old news. Since the former Greek prime minister, Alexis Tsipras, agreed to a third bailout in July, the perception of Grexit as an immediate threat has subsided – or at least disappeared from commentary. Nonetheless, while appetite for Grexit outside Greece has abated, the traumatic seven months of wrangling over its bailout with Europe produced a significant domestic demand for a return to the national currency.

The State of the Nation Debate as part of the democratic parliamentary ritual: Rajoy and Rubalcaba discourse analysis, 2014

In this article we analyze the Debate on the State of the Nation 2014. The methodology consists in coding the speeches of the prime minister, Mariano Rajoy (PP) and the then opposition leader Alfredo Perez Rubalcaba (PSOE) through extracting word clouds, branched maps and word trees that have shown the most common concepts and premises. This preliminary analysis of two dimensions, quantitative and qualitative, makes it much easier and viable subsequent discourse analysis where we focus on the different types of arguments in the communicative act: claim/solution, circumstantial premises, goal premises, value premises, meansgoal premises, alternative options/addressing alternative options.

"I Forbid You To Like It:" The Smiths, David Cameron, and the Politics of (Mis)appropriating Popular Culture

The Smiths were a critically acclaimed 1980s “indie” band that achieved cult-status within the five years they were musically active. Several studies on fandom have focused on The Smiths, particularly its frontman Morrissey, whose “apostles” are among the most committed on the popular music circuit. Yet British Prime Minister David Cameron’s repeated claims to Smiths fandom have been rebuked by fans, and the band themselves, as being incompatible with his right-wing political program; former Smiths guitarist and songwriter Johnny Marr tweeted: “David Cameron, stop saying you like The Smiths, no you don’t. I forbid you to like it.”

This article proceeds from the possibility that David Cameron was not being cynical in professing his admiration for The Smiths and considers music’s role in the embodiment of a social identity. Drawing on recent examples in the UK and the US, the article explores politicians’ problematic relationship with popular culture, alongside the notion that when an artist’s music is appropriated, they themselves are appropriated.

Equality versus Fraternity? Rethinking France and its Minorities

The relationship between France and its minorities is complex. Recent events including the 2015 terrorist attacks, the prohibition on wearing religious symbols in public, or the 2005 riots, have been perceived as symbols of great tension in French society when its comes to its minorities.2 Indeed the ten-year anniversary of the riots prompted reporting that nothing had changed in the intervening period in the structures of inequality that caused them,3 while in January 2015, the French Prime Minister Manuel Valls declared that the country was facing a “territorial, ethnic and social apartheid”.4 This statement from the Prime Minister seems to be at odds with the overall policy of rejecting any targeted policies or laws to protect minorities in France. As a tradition France is against minority rights. French authorities have consistently rejected the use of the term ‘minorities’, and have banned any form of special measures for national, racial, ethnic, religious or linguistic groups.5

L’échec du multiculturalisme en Grande-Bretagne? Une analyse conceptuelle, théorique et empirique des débats du multiculturalisme

Dans le présent mémoire, on se questionne sur la portée et la signification que l’on peut légitimement attribuer à la déclaration de 2011 du premier ministre britannique David Cameron concernant « l’échec du multiculturalisme d’État ». Plus précisément, est-ce que cet échec déclaré du multiculturalisme s’en prend à la construction théorique et normative du multiculturalisme ? Rejette-t-il plutôt l’aménagement politico-institutionnel du multiculturalisme en Grande-Bretagne ? À cet égard, est-ce qu’on observe un retrait effectif des politiques du multiculturalisme en Grande-Bretagne, entre 2000 et 2015 ? D’une approche analytique de la philosophie politique, cette recherche propose d’interpréter et de comprendre les débats qui ont cours en ce qui concerne le multiculturalisme de manière générale, puis en Grande-Bretagne plus particulièrement. Ce faisant, le présent mémoire est animé par deux objectifs : d’abord, il s’agit d’opérer une clarification conceptuelle du multiculturalisme, selon qu’on l’appréhende au titre d’appréciation factuelle socioculturelle (diversité), en tant qu’ensemble théorique et normatif (pluralisme), ou encore comme aménagement institutionnel et politique (politique publique). Ensuite, il s’agit d’observer, empiriquement et de manière systématique, l’état et l’évolution du multiculturalisme comme politique publique en Grande-Bretagne, entre 2000 et 2015. Pour ce faire, on reprend la structure méthodologique du Multicultural Policy Index, élaboré par Keith Banting et Will Kymlicka. Notre contribution originale à la littérature consiste ainsi à mettre à jour les données de cet Index pour le cas de la Grande-Bretagne, en date de 2015. En un mot, on observe une relative stabilité des politiques du multiculturalisme entre 2000 et 2015, alors que pour la même période les gouvernements britanniques critiquent de plus en plus négativement le multiculturalisme, allant jusqu’à en déclarer l’échec. Enfin, on cherche à interpréter ce phénomène, tout comme on force un dialogue entre les principales critiques émises à l’égard du multiculturalisme et les principaux théoriciens de celui-ci.

The 17th Annual Eric E. Williams Memorial Lecture

This flyer promotes an event for The 17th Annual Eric E.Williams Memorial Lecture, featuring the Honorable Dr. Ralph Everard Gonsalves, Prime Minister of Saint Vincent and the Grenadines. The event was held on October 23, 2015.

The 17th Annual Eric E. Williams Memorial Lecture- The US-Cuba Accord: How the Caribbean Paved the Way

This flyer promotes an event for The 17th Annual Eric E.Williams Memorial Lecture, featuring the Honorable Dr. Ralph Everard Gonsalves, Prime Minister of Saint Vincent and the Grenadines. The event was held on October 23, 2015 at the Wertheim Performing Arts Center, Florida International University.

The Hungarian Revolution of 1956 at Sixty Years, Liberal Reform, and the Search for a Useable Past

The story of the 1956 Hungarian Revolution at sixty years remains contested. The current center-right government led by Prime Minister Viktor Orbán at once embraces the Revolution and yet at the same time trumpets the failure of the liberal states of the West. Hungarians are encouraged to view the authoritarian politics of Vladmir Putin as a successful model worthy of emulation. In this light the liberal state envisioned by many of the revolutionaries, let alone the liberal state expected by the European Union stands in contrast with one of the principal tenets of the ruling FIDESz/Christian Democrat (KDNP) coalition. At the same time, the current yearning for an illiberal state accords with a strand of desire more akin to those who supported Cardinal Mindszenty during the Revolution and by extension his sympathy for the authoritarian regime of Miklós Horthy.

El rol de las redes de apoyo transnacional en la evolución del régimen de trata de personas en la región del mekong, 2004-2015

Con el fin de la unipolaridad no sólo se fortalecieron mecanismos de gobernanza global como los Regímenes Internacionales, sino también se fortalecieron actores no estatales. A pesar de la importancia que tomaron estos dos elementos aún no existe una teoría que explique exhaustivamente la relación que existe entre ellos. Es por lo anterior que, la investigación busca responder de qué manera el rol de las Redes de Apoyo Transnacional ha incidido en la evolución del régimen de tráfico de personas en la Región del Mekong. Asimismo tiene como objetivo comprender las relación entre el Régimen y las Redes de Apoyo Transnacional a través de la formulación de un caso de estudio basado en metodologías cualitativas, específicamente, en el análisis teórico-constructivista y el análisis de contenido de documentos producidos por actores estatales y no estatales.

Influencia del interés geopolítico de China en sus relaciones bilaterales con Camboya

La presente investigación tiene como objetivo analizar cómo las relaciones bilaterales entre China y Camboya son afectadas por el interés geopolítico chino, con el fin de demostrar que éste genera un fortalecimiento de sus relaciones puesto que además de suplir necesidades alimenticias, hídricas y en mano de obra barata, es el único país de la región del Sudeste Asiático que le permite a China tener acceso militar al Golfo de Tailandia y al Mar de China Meridional, donde se encuentra en desventaja con Estados Unidos. Así, se indica que la potencia asiática formula sus acuerdos bilaterales creando relaciones de dependencia por parte de países como Camboya para que este le entregue “obligatoriamente” lo que necesita. Esta investigación se llevará a cabo por medio de una monografía con un enfoque realista. Se utilizará el método de investigación cualitativo, que se servirá de fuentes primarias como los acuerdos bilaterales entre ambos Estados.

La Organización Internacional de la Francofonía como mecanismo de inserción internacional de la Provincia de Quebec durante el gobierno de Jean Charest (2003- 2012)

La dinámica actual de las relaciones internacionales hace cada vez más necesario el análisis de los gobiernos subnacionales, los cuales paulatinamente han influido en determinadas temáticas que afectan sus intereses. Ejemplo de esto es la provincia de Quebec, que tiene como uno de sus objetivos de política exterior el fortalecimiento de su capacidad de acción e influencia en los principales escenarios internacionales. El presente artículo analiza la manera en que la provincia, durante el gobierno del primer ministro, Jean Charest, desarrolló este objetivo principalmente a través de la Organización Internacional de la Francofonía. Para ello, la investigación se sirvió de los conceptos de paradiplomacia y de actores Mixtos propuestos por Ivo D. Duchacek y Mónica Salomón respectivamente. Este enfoque permitió concluir que, si bien la Francofonía le permitió fortalecer su capacidad de acción e influencia en determinadas regiones, Quebec tiene la posibilidad de configurarse como un actor influyente en nuevos escenarios de toma de decisiones como América Latina.

El rol de los actores subnacionales en la construcción de la política exterior de Japón. Estudio de caso: La disputa territorial por las islas Senkaku/Diaoyu entre Japón y China (2001-2014)

El presente estudio de caso tiene como objetivo analizar la influencia de la gobernación de Tokio en la formulación de la política exterior de Japón durante la disputa territorial por las islas Senkaku/Diaoyu. Para ello, se identifican los puntos más relevantes de la política exterior de seguridad de Japón después de la Segunda Guerra Mundial. Se hace un énfasis en la política bilateral de seguridad sino-japonesa, con el fin de ubicar el conflicto territorial por las islas Senkaku/Diaoyu como un punto importante en la agenda internacional de seguridad de ambos países. Se estudia y analiza el concepto de paradiplomacia; articulado, a su vez, por los conceptos de identidad y rol en política exterior de la perspectiva teórica del Constructivismo de las Relaciones Internacionales, para así analizar la influencia de Tokio en el manejo de la política exterior de Japón en el marco del conflicto territorial por las islas Senkaku/Diaoyu.

Soft Power del Vaticano en el reconocimiento de Palestina como Estado

Desde 1945, el inicio de la cuestión palestina, el país ha sufrido una serie de transformaciones e intervenciones en su soberanía y en legitimidad, las cuales siguen en discusión actualmente; y han dado como resultado el estudio del reconocimiento de Palestina como Estado. Es pertinente hacer un acercamiento a este tema desde la variable religiosa (Vaticano), teniendo en cuenta el gran número de lugares sagrados que hay en la región de Palestina y la variable religiosa del conflicto Palestino-israelí. Desde la mirada del Soft Power, concepto que ha venido tomando fuerza en la academia desde 1980, podemos acercarnos al objeto de estudio y dilucidar las injerencias de este actor. Mediante una aproximación cualitativa, que conlleva análisis del discurso, análisis histórico y análisis de política exterior, se logrará obtener el resultado esperado, que es entender de qué manera el Vaticano ejerce influencia (ideológica y cultural) en el Sistema Internacional, en el asunto del reconocimiento de Palestina como Estado.

Engineering a financial bloodbath: how sub-prime securitization destroyed the legitimacy of financial capitalism

"This book investigates the origins and implications of the securitization crisis, described by the chief executive of ANZ as a "financial services bloodbath". Based on extensive interviews it offers an integrated series of case studies drawn from the United States, the United Kingdom and Australia. A central purpose is to not only chart what went wrong with the investment houses and why the regulatory systems failed, but also provide policy guidance. The book therefore combines the empirical with the normative. In so doing, it provides a route map to navigate one of the most significant financial and regulatory failures in modern times."