The United States dominates global investment banking: does it matter for Europe? Bruegel Policy Contribution 2016/06, March 2016

In the aftermath of the global financial crisis, the market share of US investment banks is increasing, while that of their European counterparts is declining. We present evidence that US investment banks are on the verge of taking over pole position in European investment banking. Meanwhile, since 2015, Chinese investment banks have overtaken American and European investment banks in the Asia-Pacific market. Credit rating agencies and investment banks are the gatekeepers of the capital markets. The European supervisory institutions can effectively supervise the European operations of these US-managed players. On the political side, we suggest that the European Commission should continue to view its, albeit declining, banking industry as a strategic sector. The Commission, the European Central Bank and the Bank of England should jointly develop a strategic agenda for the EU-US Regulatory Dialogue. Finally, corporates rely on investment banks to issue new securities. We recommend that the big European corporates should cherish the (few) remaining European investment banks, by giving them at least one place in otherwise US- dominated banking syndicates. That could help to avoid complete dependence on US investment banks.

EU democratization policies in the Neighbourhood countries and Russia’s reaction as a destabilizing factor. A comparative case study of Georgia and Moldova. Bruges Political Research Papers 45/2015.

The EU democratization policies have not achieved the expected results in Eastern Partnership (EaP) countries. On the contrary, they have led to the outbreak of the most important crisis in Europe after the end of the cold war. A new vision of cooperation in the field of democracy is necessary in the East, as long as even Georgia and Moldova, countries considered to be the most advanced among the EaP states, have not registered essential progress in the democratization of their societies. Assuming that democratization, as part of EU’s neighbourhood policies, can be considered a threat to Russia and hence a ‘destabilizing factor’ for the EU partners, this thesis tried to understand what changes can be made to EU policies and to what extent cooperation between EU and Russia is possible in the process developing democratization policies in Georgia and Moldova. While arguing for the revitalization of the instruments used for the implementation of the democratization policies, this thesis finds that cooperation between the EU and Russia in the field of democracy is excluded as long as the two geo-political actors have different values and different views on the notion of democracy. The most likely cooperation that might occur between EU and Russia is the establishment of a Common Economic Space ‘from Lisbon to Vladivostok’. Even though such a scenario would have the potential to reduce confrontation between the two actors in the common neighbourhood, this cooperation would, however, have a negative impact on the on-going democratic reforms in Georgia and Moldova.

Going Global, Going West! Chinese Direct Investment in Germany. Asia Policy Brief 2014/03, May 2014

Chinese investors are welcome! Germany’s Federal Minister of Economy, Sigmar Gabriel, made this clear at the opening ceremony of the Chinese Chamber of Commerce in Berlin in January 2014. His words were not only meant as an invitation to Chinese companies, but also as a piece of advice for Germany’s business community and broader public. Chinese investors are often perceived to be going on a “global shopping spree” with a “political checkbook”, not only in Germany but everywhere in Europe. Some observers even suggest stricter controls for investors from specific countries, such as China. The German government is right to pursue the principle of a free trade and investment regime, while insisting that China’s government should level the playing field for foreign companies, too.

The role of Central Europe in the German economy. The political consequences. OSW Report June 2016

Recent publications allow us to conclude that the economic relations between Germany and Central Europe have come to the ‘end of history’, and nothing new will happen. However, a deeper analysis of these relationships reveals interesting new trends. Since joining the European Union the states of Central Europe have not settled for maintaining the average level of economic development, but have continued to narrow the distance between them and Western Europe, something which the global financial crisis did not prevent. Their improved economic situation also affected their relations with Germany. The latest results from the Visegrád Group states show them to be Germany’s most important trading partner, and their balance of trade in goods is in a state of equilibrium, while many euro area countries have recorded high trade deficits with Germany. The aim of this report is to display the trends in trade and investment between Germany and Central Europe, based on the example of the Visegrád Group. The author will also attempt to answer the question of whether the advancing economic cooperation between Germany and the V4 countries will lead to the further modernisation of those countries’ economies, or whether it will run the risk of leaving them in the ‘middle income trap’.

Latin Americaʹs emergence in global services: a new driver of structural change in the region?

Studies of international production acknowledge that the ability of firms to learn, upgrade and innovate in global value chains (GVCs) is influenced by knowledge flows within these global networks and by the national institutional systems in which the firms are embedded. Little is known, however, about how differences in national innovation and business systems shape the way firms and national economies insert themselves in global value chains and how this influences their upgrading trajectories. Based on a review of the existing academic literature, the chapter examines the impact of national innovation and business systems from middle-income and developing countries on learning and innovation processes in services GVCs.

Análisis de la próxima modernización del pilar comercial del Acuerdo global entre la Unión Europea y México

El Acuerdo global firmado en 1997 entre la Comunidad Europea y sus Estados miembros y México, junto con el conjunto de decisiones adoptadas en este marco, ha sido eficaz y, por tanto, las modificaciones de este acuerdo se ven motivadas principalmente por el cambio del panorama mundial desde que este se promulgó por primera vez. Por ello, para las próximas negociaciones con México, es sumamente importante prestar atención a las consideraciones generales sobre cómo se configura la política comercial de la Unión Europea. En este contexto, se analizan las necesidades y expectativas, tanto de la UE como de México, con respecto a cualquier futuro acuerdo, haciendo especial hincapié en ámbitos que van más allá del comercio de bienes y servicios, tales como la contratación pública, la inversión y la cooperación regulatoria. Se defiende que, para cualquier modificación, deben tomarse como modelo los «antiguos» acuerdos de asociación, teniendo en cuenta que se centran en temas específicos de la UE y su capacidad para atender a las necesidades de México en cualquier acuerdo más avanzado que se vaya a celebrar.

Global geodynamics.

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UARS : upper atmosphere research satellite : a program to study global ozone change.

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Earth system science overview : a program for global change /

"May 1986."

A tale of two cities: Education responds to globalisation in Hong Kong and Singapore in the aftermath of the Asian economic crisi

It has been suggested that although the most theorisation about globalisation has emerged from “western” contexts, the material implications of globalisation have been felt most strongly in non-western regions. With this in mind, we are undertaking a situated analysis of how two states, Singapore and Hong Kong, are interacting with the broader processes of globalisation through their educational policies. We apply Foucault's conceptual tool of governmentality to understand (i) the conduct of governing in the contemporary nation-state, and (ii) how the “right” rationalities are being inculcated by government to create “desiring subjects” who will play their part in ensuring national prosperity. We use the Asian Economic Crisis as a point of departure to show how global-local tensions are being managed by Singapore and Hong Kong. We conclude that both these global cities have adroitly managed the Asian economic crisis to steer their citizens away from pursuits of greater political freedom and towards concerns of material well being. They have done so through a selective interpretation of globalisation, by simultaneously resisting and embracing the contradictory strands of globalisation. Education has emerged as a critical space for this selective absorption of globalising trends.

The natural jurisprudence of Jean Barbeyrac: translation as an art of political adjustment

The article makes the case for redescribing Jean Barbeyrac [1674-1744], the great French translator and influential glossator of seventeenth-century Latin natural-law texts, as something quite other than a neutral mediator of Samuel Pufendorf. To consider the specific religious and political charge of his strategies as translator is to recognize the independence of Barbeyrac's Huguenot stance on natura; jurisprudence. This stance is provoked by the profound challenge that Pufendorf's radical post-Wespthalian secularizing of civil authority posed for a Huguenot: how to grant that the state had legitimate authority to regulate all external conduct, but at the same time preserve an inviolable moral space for the exercise of individual conscience. The argument--pointing to Barbeyrac's construction of a 'Lockeanized' Pufendorf--rests both on his famous presentation of Leibniz's critique of Pufendorf's De officio hominis et civis and on more neglected elements of Barbeyrac's corpus.

Localizing a global discipline - Designing new planning programs in Sri Lanka

In order to be relevant and useful in a fragmented developing country context, community and regional planning needs to shift away from the use of rigid tools to more flexible, adaptive approaches. An international review of planning curricula indicated a widespread consensus with respect to key competencies required of planners. This understanding was used in the development of new teaching programs at three Sri Lankan universities. Complementing the technical core knowledge areas, strong emphases on problem structuring, critical and strategic thinking, and the understanding of the political and institutional contexts appear to be crucial to making the agenda of planning for sustainable development more than a fashionable cliche. In order for these core areas to have relevance in a developing country context, however, planning curricula need to achieve a balance between local priorities and a global perspective.