The political-economic life of the present globalized world economic order is dominated by the combined West - Europe and North America with the United States as the de facto leader of this monopolar ...system. However, widespread dissatisfaction with this arrangement of the global economy has been growing in recent years, especially in light of the immense civilizational challenges posed by climate change and its effects. Many nations, mostly in the Global South, are unhappy with the current monopolar world order as it is viewed as an unfair economic arrangement that benefits American and European transnational corporations (TNCs) while leaving little economic prosperity for the nations of the Global South that provide natural resources and labor to this global economic system. A new political-economy paradigm, spearheaded by China and Russia, is emerging in the heart of the Eurasian supercontinent. It is a bipolar, or multipolar, paradigm that seeks to create a new balanced global political-economic arrangement that can benefit all countries instead of a wealthy few. By integrating their factors of production through increased economic cooperation, China and Russia are setting the stage for a new global political economic order that could eventually attract more nations from the Eurasian supercontinent, and the rest of the planet, to join hands in creating a pan-Eurasian, and perhaps later a global, ecological civilization that can address the problems of both poverty and the ecological emergency faced by the world today. Kevin Clark. Can China and Russia Create a Pan-Eurasian Community? China Media Research, 19(1):25-344 Keywords: Belt and Road Initiative; Multipolar World; Pan-Eurasian Community; Ecological civilization
Modern supply chain is a complex system and plays an important role for different sectors under the globalization economic integration background. Supply chain management system is proposed to handle ...the increasing complexity and improve the efficiency of flows of goods. It is also useful to prevent potential frauds and guarantee trade compliance. Currently, most companies maintain their own IT systems for supply chain management. However, it is hard for these isolated systems to work together and provide a global view of the status of the highly distributed supply chain system. Using emerging decentralized ledger/blockchain technology, which is a special type of distributed system in essence, to build supply chain management system is a promising direction to go. Decentralized ledger usually suffers from low performance and lack of capability to protect information stored on the ledger. To overcome these challenges, we propose CoC (supply chain on blockchain), a novel supply chain management system based on a hybrid decentralized ledger with a novel two-step block construction mechanism. We also design an efficient storage scheme and information protection method that satisfy requirements of supply chain management. These techniques can also be applied to other decentralized ledger based applications with requirements similar to supply chain management.
Despite innumerable government policies to reduce youth unemployment in Sub-Saharan Africa, the problem persists. This study examines the extent to which the hysteresis effect exists in the youth ...unemployment rate in Sub-Saharan African countries during the period 1991 to 2021, disaggregated according to territorial delineation, income, and gender. First, we employ the univariate and panel unit root tests including the Augmented-Dickey-Fuller, Phillips-Perron, the Dickey-Fuller-Generalized Least Square by Elliott, Rothenberg, and Stock (1996), the ADFmax by Leybourne (1995), and the Kwiatkowski, et al. (1992) test, to enable comparison with previous studies. The Pesaran's (2007), test is then applied to account for cross-sectional dependence. Finally, the Zivot--Andrews single structural break by Zivot and Andrews (1992), Clemente--Montane--Reyes two structural breaks unit root tests by Clemente, Montanes, and Reyes (1998), as well as the Karavias-Tzavalis panel unit root test with structural breaks by Karavias and Tzavalis (2014) are employed. The univariate unit root tests generally support the hysteresis hypothesis (within a band of 60% to 97%) for almost all countries, and sub-regions in SSA. However, accounting for structural breaks, the hysteresis effect in total youth unemployment is only visible in 19 countries (40%), with evidence of gender disparities pointing to the hysteresis effect in females only in 16 countries (34%), and, in males only in 10 countries (21.3%). The lower-middle-income countries reject the natural rate hypothesis in total and both male and female youth unemployment rates. While only male youths suffer from the hysteresis in low-income countries, the total youth in upper-middle-income countries shares this effect. Accounting for cross-section dependence alters the finding of the hysteresis effect only in males in Southern Africa and upper-middle-income countries. A one-size-fits-all policy may not work. Instead, we recommend an integral approach aimed at the creation of employment opportunities for youth and females, including but not limited to diversification of economic activities in rural areas to reduce urbanization, skills training, political and economic stability, cultural transformation to remove unnecessary gender-related employment discrimination, as well as improved economic integration policies. For countries found to exhibit the natural rate hypothesis, it may not be necessary to engage in costly policies to return the youth unemployment rate to equilibrium since the shock is only temporary.
The Community Court of Justice of the Economic Community of West African States (ECOWAS Court) is an increasingly active and bold adjudicator of human rights. Since acquiring jurisdiction over human ...rights complaints in 2005, the ECOWAS Court has issued numerous decisions condemning human rights violations by the member states of the Economic Community of West African States (Community). Among this Court’s path-breaking cases are judgments against Niger for condoning modern forms of slavery and against Nigeria for impeding the right to free basic education for all children. The ECOWAS Court also has broad access and standing rules that permit individuals and nongovernmental organizations (NGOs) to bypass national courts and file suits directly with the Court. Although the Court is generally careful in the proof that it requires of complainants and in the remedies that it demands of governments, it has not shied away from politically courageous decisions, such as rulings against the Gambia for the torture of journalists and against Nigeria for failing to regulate multinational companies that have degraded the environment of the oil-rich Niger Delta.
Using survey data from two distinct samples, we found that reported integration behaviors (e.g., attending company parties, discussing nonwork matters with colleagues) were associated with closer ...relationships among coworkers but that this effect was qualified by an interaction effect. Racial dissimilarity moderated the relationship between integration and closeness such that integration was positively associated with relationship closeness for those who were demographically similar to their coworkers, but not for those who were demographically dissimilar from their coworkers. Additionally, this moderation effect was mediated by the extent to which respondents experienced comfort and enjoyment when integrating. These findings highlight the importance of creating the right kind of interactions for building closer relationships between employees, particularly relationships that span racial boundaries.
This open access book aims to emphasize the potential for Japan, Europe and Indo-Pacific countries including the US to respond to shared domestic and international challenges on finding joint ways to ...uphold and develop the liberal international order (LIO) in the Asian Pacific region and the world. It explores how these countries and the region (the EU) can work together to promote solidarity and cooperation to advance democratic standards and rules-based norms globally. The US understands the LIO in a political sense and centers its focus on democracy, aiming to build a coalition of democracies opposed to China and Russia which represent a kind of authoritarian axis. The US aims both to defend the LIO and respond to the China challenge and to build a coalition of countries that will do both. In contrast European countries aim at defending the “rules-based order”—a term preferred because they fear that the concept of the LIO might alienate or antagonize non-democratic countries. They face a dilemma between working with China to reform the LIO or, in seeking to defend it from China, excluding China. Germany and France differ regarding whether to play a passive or active role in the Indo-Pacific, the former choosing to preserve peace and stability for continued exports, and, until recently, doing little to contribute to security. Its views echo those of the ASEAN countries, which are unable or unwilling to take an active role in protecting the LIO. On the contrary France, along with the UK, actively carries out presence operations in the Indo-Pacific. Rather than upholding US dominance, France supports a multipolar order that will also reduce China’s influence in the region, with France acting as a balancing power and offering an alternative to the choice between China and the United States. Japan and India show interest in European views with the former leaning more toward its allies, the US and AUKUS, and the latter seeing Europe less as an alternative to the status quo and more as a complement of QUAD. This book concludes that the US needs to build coalitions rather than forcing allies and neighbors to choose sides, while Japan, Asian countries, and Europeans should more actively reform the LIO.
Global value chains are formed through value-added trade, and some regions promote economic integration by concluding regional trade agreements to promote these chains. However, it has not been ...established to quantitatively assess the scope and extent of economic integration involving various sectors in multiple countries. In this study, we used the World Input-Output Database to create a cross-border sector-wise network of trade in value-added (international value-added network) covering the period of 2000-2014 and evaluated them using network science methods. By applying Infomap to the international value-added network, we confirmed two regional communities: Europe and the Pacific Rim. We applied Helmholtz-Hodge decomposition to the value-added flows within the region into potential and circular flows, and clarified the annual evolution of the potential and circular relationships between countries and sectors. The circular flow component of the decomposition was used to define an economic integration index. Findings confirmed that the degree of economic integration in Europe declined sharply after the economic crisis in 2009 to a level lower than that in the Pacific Rim. The European economic integration index recovered in 2011 but again fell below that of the Pacific Rim in 2013. Moreover, sectoral economic integration indices suggest what Europe depends on Russia in natural resources makes the European economic integration index unstable. On the other hand, the indices of the Pacific Rim suggest the steady economic integration index of the Pacific Rim captures the stable global value chains from natural resources to construction and manufactures of motor vehicles and high-tech products.
Increasing economic integration and global synchronization can be key for countries aiming to catch up in GDP per capita terms. Little attention has hitherto been placed in synchronization as ...determinant of convergence. In this paper we estimate the effect of economic globalization and synchronization on income convergence for a sample of 89 developed and developing countries in the period 1970–2015. We use a dynamic factor model and panel data techniques to undertake the objectives of the paper. We show that synchronized countries (those correlated with the factor) exhibit a higher response on GDP per capita growth with variations on the global business cycle. This implies that synchronization improves growth for that group in global expansionary phases, but also implies risks during global recessions. On the contrary, the effect on growth of an economic globalization index is less relevant for synchronized countries than for asynchronized countries. The latter result implies that asynchronized countries can benefit more increasing their levels of economic globalization.
PDF
