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Cities in a Global Order

By Simon Curtis

The remarkable transformation of the world’s major cities over recent decades has been widely noted as being driven by a restructuring of the global economy. What is less often remarked upon is that the relative empowerment of cities is rooted in a wider transformation of international political order. Below, Simon Curtis argues that as components of a nascent global order, cities have been endowed with new capacities, and are taking on new governance roles. These developments point to the crucial role that cities will play in the future of global politics.

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Is Effective Waste Collection the key to a Circular Economy?

By Jonas Törnblom

As urbanisation intensifies and sustainability climbs higher up the global agenda, new solutions to old challenges are more important than ever. Waste management is one such challenge, but by investing in cleaner, more efficient waste-removal systems governments can, Jonas Törnblom argues, take a crucial step on the road to building more sustainable cities and a more sustainable world.

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A Watershed in the Financing of Infrastructure for Water Security

By John Briscoe

Water is a basic necessity – crucial not only for sustaining life, but also for facilitating sustainable economic growth. Below, Professor John Briscoe calls out the hypocrisy of much of the last four decades of rich countries’ policies towards large-scale infrastructural projects in the developing world, and questions what recent game-changing announcements mean for the future of development. Is the hegemony of the Western-dominated World Bank coming to an end?

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Shadow Bankers Fight a Losing Battle in China

By Joe Zhang

“If President Xi Jinping wants Chinese people to realise their own ‘China dream’, he must tame the credit monster. Shadow banking is only the shadow, not the monster waiting in the shadows.” Below, Joe Zhang argues that shadow banking is merely the tip of the iceberg, disguising the real, underlying problem: excessive credit expansion.

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The Brasília Consensus: Looking for a Second Wind

By Lourdes Casanova and Julian Kassum

This article examines Brazil’s hybrid development model, which combines macroeconomic orthodoxy with certain features of state capitalism, as well as pro-active social inclusion policies. Lourdes Casanova and Julian Kassum identify and analyse the five pillars of the Brasilia Consensus: macroeconomic stability, social programs, domestic demand, state-led industry development and political consensus.

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Climate Change: Legal, Financial, Economic and Risk Management Issues

By Tapen Sinha

Human activities have accelerated the process of climate change. Since dealing with climate change requires collective action across countries and across regions, their often-divergent incentives make such action difficult to achieve. Our only remaining option is to take collective global action through adaptation and mitigation.

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The Hidden Advantage of Chinese Subsidies

By Usha C. V. Haley and George T. Haley

How did China move so swiftly in capital-intense industries without labour-cost or scale advantage from bit player to the largest manufacturer and exporter in the world? Below, Usha and George Haley argue that subsidies contributed significantly to China’s success.

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Toward a New Global Russia: Leaving the BRICS Behind

By Terence Tse, Mark Esposito, and Olaf Groth

While Russia’s growth in the early 2000s inspired confidence in its potential as a global economic powerhouse, falling international oil prices and foreign military exploits have slowed the pace of growth and left Russia’s future uncertain. Below, the authors outline two potential scenarios and argue that only with an innovative long-term strategy focused on developing a science and technology “String of Pearls” can Russia secure its future as a global power.

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Climate Change: What It Means for Us, Our Children, and Our Grandchildren

By J. F. C. DiMento, P. Doughman and S. Levesque

Most of us are familiar with the terms climate change and global warming, but not too many of us understand the science behind them. Below, Joseph F. C. DiMento, Pamela Doughman, and Suzanne Levesque discuss the scientific knowledge about global climate change, describe how it will affect all of us, and suggest how government, businesses, and citizens can take action against it.

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Shock from Graying: Are Grandparents Responsible for the Weakening of Monetary Policy Effectiveness?

By Patrick Imam

Patrick Imam explores how a population with an ageing demographic requires certain monetary policy in order to be effective in the post-crisis era. Factors that will need to be taken into consideration, he argues, include the structural transformation in the credit market, and changes in the way monetary policy affects the expectations of businesses and consumers.

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