Asia & the Pacific

150 Items

Book - University of Michigan Press

Capital Choices: Sectoral Politics and the Variation of Sovereign Wealth

| Mar. 07, 2022

Capital Choices analyzes the creation of different SWFs from a comparative political economy perspective, arguing that different state-society structures at the sectoral level are the drivers for SWF variation. Juergen Braunstein focuses on the early formation period of SWFs, a critical but little understood area given the high levels of political sensitivity and lack of transparency that surround SWF creation. Braunstein’s novel analytical framework provides practical lessons for the business and finance organizations and policymakers of countries that have created, or are planning to create, SWFs.

Different Swedish bank notes and coins.

Sven-Erik Johansson/AP

Analysis & Opinions - Telos

Post COVID-19 Economy: State Capitalism with Expiration Date

| June 25, 2020

As economies begin to orient themselves towards recovery and growth in a post-COVID-19 era, they will first need to disentangle themselves from their prior bedfellows, the state, whose courtship was necessary for survival during the pandemic.  Such bedfellow relationships have become increasingly common as government intervention is urgently needed for economic stabilization. Governments have also embraced their new role with vigor. According to the IMF, as of April 2020, countries have committed around $8 trillion to combat the pandemic and to remedy its ill effects on economies and societies. Decisions about how this money will be spent will undoubtedly recalibrate the logic of capitalism for years to come. 

Blog Post - Views on the Economy and the World

How China Compares Internationally in New GDP Figures

| May 31, 2020

The World Bank on May 19, as it does every six years, released the results of the most recent International Comparison Program (ICP), which measures price levels and GDPs across 176 countries.  The new results are striking.  It is surprising that they have received almost no attention so far, perhaps overshadowed by all things coronavirus.

For the first time, the ICP shows China’s total real income as slightly larger than the US.  It reports that China’s GDP was $19,617 billion in 2017, in Purchasing Power Parity (PPP) terms, while the United States’ GDP stood at $19,519 billion.

Rupiah coins in Medan, North Sumatra, Indonesia.

Binsar Bakkara/AP

Analysis & Opinions - Global Policy

Closing the Equity Financing Gap during the COVID-19 Crisis: The Emergence of Sovereign Wealth Funds with Expiration Dates

| May 29, 2020

Juergen Braunstein and Sachin Silva argue that sovereign wealth funds may be central to governments' efforts to balance public responsibility with private interests in post-pandemic economies.

In this June 10, 2019, file photo of a money exchange shop decorated with different banknotes at Central, a business district of Hong Kong. 

AP Photo/Kin Cheung, File

Analysis & Opinions - Los Angeles Times

China Pioneers a National Digital Currency. Can the U.S. Catch Up?

| May 04, 2020

While much of the world is consumed by the COVID-19 crisis, the Chinese government is quietly unleashing a financial innovation that will reshape its economy and improve its strategic standing for decades to come. In April, China’s central bank introduced the “digital yuan” in a pilot program across four cities, becoming the world’s first major economy to issue a national digital currency.

Dr. Justin Jacob runs a sample COVID-19 test inside a mobile testing lab unit that will begin testing in response to the Coronavirus outbreak, Tuesday, April 28, 2020, in Washington.

Andrew Harnik/AP

Analysis & Opinions - Project Syndicate

What Caused the COVID-19 Testing Deficit?

| Apr. 30, 2020

As the divergent experiences of the US and South Korea show, testing can be the difference between disease containment and catastrophe. Rather than relying on national governments to ensure the rapid development, production, and deployment of diagnostics during outbreaks, the world needs a global coordinating platform.

Sun sets behind idle pump jack near Karnes City, Texas.

Eric Gay/AP

Analysis & Opinions - Bloomberg Opinion

Oil's Collapse Is a Geopolitical Reset In Disguise

| Apr. 29, 2020

The world is on the cusp of a geopolitical reset. The global pandemic could well undermine international institutions, reinforce nationalism and spur de-globalization. But far-sighted leadership could also rekindle cooperation, glimmers of which appeared in the G-20’s offer of debt relief for some of the world’s poorest countries, a joint plea from more than 200 former national leaders for a more coordinated pandemic response and an unprecedented multinational pact to arrest the crash in oil markets.