South Asia

What the Iron Man-like character is claiming for his futuristic automotive company is not unheard of. On a systemic basis, mammoth institutional investment—especially from sovereign wealth funds (SWFs)—is flowing into start-ups and technology-oriented publicly traded companies. In this case, Saudi billions would help Mr Musk escape the pressures of being publicly listed. SWFs have invested large sums into high-growth start-ups promising innovation and financial returns. In fact, just this month, Saudi’s Public Investment Fund (PIF) announced a US$1bn investment in Tesla’s rival, Lucid, and a US$2bn stake in Tesla. The rise in SWF balance sheets and activity is having ramifications on global efforts to be more Silicon Valley-like, and on Silicon Valley itself.

This paper is a background review representing part of the initial phase of the Financing the Urban Transition work program. The review builds on a growing body of research that highlights both the importance of national sustainable infrastructure and the need to develop more effective and efficient financing mechanisms for delivering compact, connected cities that meet the UN’s Sustainable Development Goals. While progress has been made in both these areas over the last five years, there remains a policy gap between the international/national level and the municipal level.

The tensions unsettling the Saudi royal family became clear in September, when Joseph Westphal, the U.S. ambassador to Riyadh, flew to Jiddah to meet Crown Prince Mohammed bin Nayef, nominally the heir to the throne. But when he arrived, he was told that the deputy crown prince, a brash 30-year-old named Mohammed bin Salman, wanted to see him urgently. Senior Fellow, David Ignatius, discusses Mohammed bin Salman opportunity to transform Saudi Arabia.

"For decades India bemoaned the migration of its skilled expertise to industrialised countries. Today it is benefiting from their knowledge and connections, largely because it has over the years built a strong intellectual and commercial infrastructure through which émigrés are operating."

This chapter focuses on the role of government policy in the evolution of GM technology and institutions.

"This introductory essay explains how this new technology is being driven by the actors (multinational corporations), markets (large global markets) and rules (intellectual property) of globalisation."

The objective of this collaborative research project is to identify the key institutional and socio-economic challenges for developing countries in taking up GM crops, based on a review of experiences in 8 countries. We aim to publish a volume putting together 6 country case studies in 2005.

This is the first book to bridge the gap between the "naysayers" and "cheerleaders", and to provide a penetrating examination of the realities, complexities, benefits and pitfalls of GM adoption in developing countries that are desperately fighting poverty while trying to stay afloat in the hyper-competitive global economy.

"...the emergence and spread of GM crops at the global level was driven by markets and shaped by institutions. This chapter analyses the same process at the national level and compares the experiences of Argentina, Brazil, China, India and South Africa...."