Articles

The small open economies of the Gulf and Southeast Asia are pioneers in the establishment of

Sovereign Wealth Funds (SWFs). The SWFs of countries like Qatar and Singapore are among the

world’s largest in terms of total asset size relative to Gross Domestic Product. This article looks

at the different compulsions behind the setting up of SWFs by small open economies.

For decades, fears of energy scarcity drove American energy diplomacy. The dependence of the global economy on oil, and America’s need to secure ever-growing quantities of this commodity, underpinned complex networks of alliances and intensive diplomatic endeavors. An atmosphere of ever-increasing global competition for resources made these labors all the more urgent and highstakes. Today, in an age of energy abundance, many anticipate that the new US energy prowess will render such efforts obsolete and pave the way for US disengagement in the world. Yet a sober look at reality suggests that this should be far from the case.

During the 1971 Bangladesh war for independence from Pakistan, the Pakistan army carried out a genocide that killed hundreds of thousands of Bengalis in what was then East Pakistan. The perpetrators never faced trial. Archival documents reveal how India and Bangladesh sacrificed the opportunity for war crimes trials to gain Pakistan’s agreement on key security goals—the Simla peace agreement and recognition of Bangladesh’s independence. The legacy of this decision continues to blight Bangladesh’s politics.

Many energy consumers, and even analysts and policymakers, confront and frame energy and climate risks in a moral vacuum, rarely incorporating broader social justice concerns. Here, to remedy this gap, we investigate how concepts from justice and ethics can inform energy decision-making by reframing five energy problems — nuclear waste, involuntary resettlement, energy pollution, energy poverty and climate change — as pressing justice concerns.

Many explanations of Pakistan’s tacit support for the Afghan Taliban emphasize Pakistan’s long-standing rivalry with India. Four other factors, however, have been equally decisive: militarized foreign policy making, links between Pakistani military and Islamist networks, grassroots violence, and Pakistan’s contentious history with Afghanistan.

"...Asia has its own internal balance of powers, and in that context, many states continue to welcome an American presence in the region. Chinese leaders have to contend with the reactions of other countries, as well as the constraints created by their own objectives of economic growth and the need for external markets and resources. Too aggressive a Chinese military posture could produce a countervailing coalition among its neighbors that would weaken both its hard and soft power. A poll of 16 countries around the world found a positive attitude toward China’s economic rise, but not its military rise."

In the 'epicenter of terrorism,' democracy will benefit from an ease in US military pressure.

Faced with high oil prices and increasing oil imports to meet the country’s rising demand for transportation fuels, there is now a perception that India’s energy security is threatened. While the production of biodiesel has now become a national mission, CTL fuels are also gaining currency as a commercially attractive proposition because of the potentially cleaner characteristics.

When President Bush visits India next month, he will see a country that is making remarkable economic progress despite enormous structural problems. That progress will, however, be far less visible than it is in China. In India he will not see the modern high-rises or the general level of prosperity that he has seen in urban China. But the progress in India is nevertheless real.