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.

This study investigates whether, as part of a broader “Asian Energy Pivot,” Russia’s energy giant Gazprom refashioned its export strategy away from Europe, and what impact such a reorientation might have on the EU–Russia gas relationship. It uses four empirical cases to emphasize the domestic movers underlying Russia’s eastward shift in energy trade, developing a constructivist theory rooted in the dynamics of Russia’s dominant public narrative and the contours of domestic politics. It argues that Russia’s national interests changed as a result of how Russian policy-makers interpreted and reacted to the stand-off with Europe, in response to what they perceived as Europe’s attempt to isolate it economically and geopolitically. 

Indian Prime Minister Narendra Modi traveled to Washington last week, making his fourth trip to the United States since taking office just two years ago. India and South Asia Program Fellow, Ronak Desai examines the strategic approach to India's relations with the United States.

Many experts consider nuclear terrorism the single greatest threat to U.S. security. The fear that a state might transfer nuclear materials to terrorists was a core justification for the invasion of Iraq in 2003 and, more recently, for a strike against Iran’s nuclear program. The logical basis for this concern is sound: if a state could orchestrate an anonymous nuclear terror attack, it could destroy an enemy yet avoid retaliation. But how likely is it that the perpetrators of nuclear terrorism could remain anonymous? Data culled from a decade of terrorist incidents reveal that attribution is very likely after high-casualty terror attacks. Attribution rates are even higher for attacks on the U.S. homeland or the territory of a major U.S. ally—97 percent for incidents in which ten or more people were killed. Moreover, tracing a terrorist group that used a nuclear weapon to its state sponsor would not be difficult, because few countries sponsor terror; few terror groups have multiple sponsors; and only one country that sponsors terrorism, Pakistan, has nuclear weapons or enough material to manufacture them. If leaders understand these facts, they will be as reluctant to give weapons to terrorists as they are to use them directly; both actions would invite devastating retaliation.

Despite widespread adoption of genetically modified crops in many countries, heated controversies about their advantages and disadvantages continue. Especially for developing countries, there are concerns that genetically modified crops fail to benefit smallholder farmers and contribute to social and economic hardship. Many economic studies contradict this view, but most of them look at short-term impacts only, so that uncertainty about longer-term effects prevails. The authors address this shortcoming by analyzing economic impacts and impact dynamics of Bt cotton in India.

Realist scholars have long debated the question of how much power states need to feel secure. Offensive realists claim that states should constantly seek to increase their power. Defensive realists argue that accumulating too much power can be self-defeating. Proponents of hegemonic stability theory contend that the accumulation of capabilities in one state can exert a stabilizing effect on the system. The three schools describe different points along the power con­tinuum. When a state is weak, accumulating power increases its security. This is approximately the situation described by offensive realists. A state that con­tinues to accumulate capabilities will eventually triggers a balancing reaction that puts its security at risk. This scenario accords with defensive realist as­sumptions. Finally, when the state becomes too powerful to balance, its oppo­nents bandwagon with it, and the state’s security begins to increase again. This is the situation described by hegemonic stability theory. These three stages delineate a modified parabolic relationship between power and secu­rity. As a state moves along the power continuum, its security increases up to a point, then decreases, and finally increases again. This modified parabolic re­lationship allows scholars to synthesize previous realist theories into a single framework.

"...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 order to create a truly strategic relationship, the Obama administration will need to go beyond the civil nuclear cooperation, drawing on areas of common concern and interest.

"As the American political system hurtles toward its quadrennial encounter with the oracle of democracy, it is worth our while to take stock of the country's place in a world beset by bewilderingly rapid change. (Heaven knows none of the candidates will bother to do this.) I want to suggest that an old yet generally neglected subject remains particularly relevant: the relationship between the size of political units and the effective scale of systems of economic production and exchange. Another way to describe this relationship is by recourse to the hoary scholarly phrase "political economy", a term of art that has unfortunately gone out of style...."

"...it is a mistake to see high prices as a proxy for actual hunger. Most of the world's hungry citizens do not get their food from the world market, and most who rely on the world market are not poor or vulnerable to hunger."