Diplomacy and International Politics

Ownership of reforms by citizens is often presented as important for success. This paper explores media engagement and support for economic reforms in the Gulf Cooperation Council (GCC) countries using text analysis techniques on publicly available sources. Results show that while reform efforts have intensified in recent years in the GCC, these efforts tend to focus on stronger rather than weaker policy areas, potentially limiting the growth-enhancing effect of reforms. Social media analysis using Twitter shows that the population’s support for reforms has been declining. The analysis of traditional
news media points to more engagement by international than by local media. However, sentiment from international media is less positive about economic reforms in the GCC. Sentiment in international media and social media matters, as evidenced by its positive and strong correlation with FDI inflows into the GCC.

In recent years the crisis of the transatlantic relationship and the North Atlantic Treaty Organization (NATO) has become a common theme in media, and various scholars have frequently questioned the futures of both entities. Not only are the new sovereigntist and populist trends within the NATO members calling the relevance of the transatlantic relationship into question, but some have found a reason to identify a crisis in the transatlantic relationship from the rise of global actors and the emergence of China as a great power in particular. China’s economic recovery after its “century of humiliation” is reshaping the international geopolitics and shifting the economic epicenter of the world from the Atlantic to the Pacific. 

Ambassador Nicholas Burns speaks to CNN's Jim Sciutto about the Iran crisis.

Michael Greenwald writes that with the recent change of leadership at the European Central Bank, the euro likely has a bright future ahead.

Washington should adjust its coercive economic strategy to reflect a broader use of tools beyond sanctions. Given the degree of political interference in China’s banking system via formal state ownership and the indirect influence of opaque party committees, penalties imposed against the country’s banks are unlikely to produce a meaningful change in behavior.

Like with the Soviet Union, America once again finds itself in a global competition with Beijing today, albeit with many more consequences for Washington’s financial statecraft.

With rising population and incomes, the “rentier” mode of development in Saudi Arabia has long been unsustainable. While the issue of fiscal stabilization will occupy policy-making in Saudi Arabia in the short and medium terms, the long-term challenge of finding new sources of growth to complement oil has only been made starker by the recent drop in oil prices. Analysis of the prospects for such reforms in KSA has long been divided between two opposite camps: those who believe that the inadequacies of the rentier model will necessarily usher a doomsday scenario sooner or later, regardless of economic policies; and those who believe the impending crisis can be met by moving from the current mono-sector economy to a modern and diversified knowledge based economy OECD-style.