Policy in China will return to putting growth first

Subject The economic outlook for China. Significance Downward pressure on economic growth is growing amid trade tension with the United States and the effects of a campaign to deleverage the domestic economy. The central government has made a clear shift towards looser monetary and fiscal policy to provide liquidity and stimulate business activity, implying that authorities' concerns about slowing growth are serious. Impacts Interest rate cuts and further credit injections are likely before year-end if trade tensions with the United States persist. Investments in infrastructure will facilitate technological development such as 5G adoption, with a wider impact on other industries. Infrastructure investment is back in favour in Beijing, so the Belt and Road Initiative could receive another boost abroad.

Significance On her return from the United States and Russia, President Dilma Rousseff's problems have not changed; indeed, most worsened during her absence. Brazil's economic outlook is bleaker, the governing political coalition weaker and the scope of the corruption scandal has widened. Impacts Congress will push back more strongly against spending cuts as the government's situation weakens. The PMDB as a whole is unlikely to follow Cunha's lead, at least in the short term. Lula's fate will have major longer-term implications for the future of the PT.


Significance Senior US officials see Communist-led China as the foremost threat to the United States. The Trump administration’s campaign against it spans the spectrum of government actions: criticism; tariffs; sanctions; regulatory crackdowns; military intimidation; support for Taiwan; and restrictions on imports, exports, investment and visas. Impacts Beijing will have little success in driving a wedge between Washington and its major Western allies. The West is unlikely to produce a convincing alternative to the Belt and Road Initiative (BRI). Negative public views of China incentivise China-bashing by politicians, which in turn feeds negative public opinion in a downward spiral. Beijing will persist in its efforts to encourage a more positive view of China among Western publics.


Significance The memorandum also references cooperation in digital connectivity and supply chain resilience in the Indo-Pacific, Middle East, Africa, the Western Hemisphere and Central and Eastern Europe. This is an implicit challenge to China’s Belt and Road Initiative (BRI). Impacts Washington will take a more confrontational approach to the BRI, and Tokyo a more conciliatory one. Australia will deepen its involvement in joint projects with Japan and the United States, particularly in the South Pacific. Japan has been skilful in forming bilateral infrastructure partnerships with Quad countries, but is wary of a formal Quad partnership. To lower the temperature, Japan also partners with China on some joint projects, such as a railway in Thailand. US-Japan cooperation on overseas energy projects aims to curb their rivalry in this sector and improve competitiveness against China.


Significance After years of being on the losing end of an electoral system crafted by ruling Fidesz to favour large, unitary blocs, the opposition is marching towards unity. Although Fidesz’s path to victory in 2022 is still wider than that of the opposition, whoever wins, the era of stability that began in 2010 will end next year. Impacts A sharp fall in political stability and predictability will put strong downward pressure on the forint and raise borrowing costs from 2022. Orban’s weakening would spell the end of Central Europe’s Eurosceptic pole, and reduce opposition to Franco-German EU integration efforts. The United States and Western Europe will ramp up criticism of Orban and indirect support for the opposition.


Author(s):  
Peter Drahos

The climate and energy crisis requires a strong state to change the direction, speed, scale, and financing of innovation in world capitalism in order to create a bio-digital energy paradigm. Four states are possible contenders for catalyzing this survival governance: China, the European Union, India, and the United States. China is an improbable leader, but less improbable than the other three. No US president can close down the fossil fuel industry in time. The US state, worried about the slippage of its technological superiority, is turning to regulatory mechanisms like intellectual property to slow China’s technological development. China will have to manage the risk of a United States bent on military primacy. China is urbanizing innovation on a historically unprecedented scale. Lying at the heart of the bio-digital energy paradigm is a global city-based network of innovation. China, more than the other three states, is scaling technology innovation through the building of experimental cities such as eco-cities, hydrogen cities, forest cities, and sponge cities. The Belt and Road Initiative will take this innovation well outside of China’s borders. China could help to place cities into a new relationship with their surrounding ecosystems. Drawing on more than 250 interviews, carried out in 17 countries, including the world’s four largest carbon emitters, the book shows how cities and their networks represent the best chance for growing climate survival governance for the 21st century.


Significance While intensified air attacks will help weaken and contain ISG, they will not destroy it unless accompanied by a substantial ground force to defeat ISG on the ground. However, the lack of workable military solutions to the Iraqi and Syrian conflicts, and the legacy of the Afghanistan and Iraq interventions mean that the United States and other allies are averse to carrying out a large-scale ground deployment. Impacts Without robust international intervention, Syria's civil war will drag on for years, enabling ISG to hold onto significant territory. A large-scale US ground force operation would risk enflaming anti-US sentiment and escalating the geopolitical rivalry with Iran and Russia. Proxy forces and militia groups will embed themselves in Syrian and Iraqi politics, weakening central government. Threat of attacks by ISG- and al-Qaida-linked jihadists in the West will increase. Russia and Iran's much greater military role in Syria compared to the West will give them a much greater say on the conflict's outcome.


Subject Prospects for Latin America in the second quarter. Significance Despite some improvement in the global economic outlook, primarily in the United States, most of Latin America's largest economies will perform relatively poorly in the second quarter, with Venezuela and Argentina in particular likely to remain in recession. The deteriorating situation in Brazil may generate wider ripple effects.


Subject The macroeconomic outlook for Japan. Significance For the first time in six and a half years, businesses are pessimistic about the economic outlook, according to the results of a Nikkei-Markit survey of manufacturing purchasing managers released today. This comes just days after Japan’s first-quarter 2019 real GDP data surprised forecasters with a solid 2.1% growth over the previous quarter (seasonally adjusted, annual rate). Nominal growth was an even more surprising 3.3%. Impacts Even a recession is unlikely to deter a tax rise; the government would increase the immediate stimulus accompanying the rise. New US tariffs on China will mean lower exports from China to the United States, in turn reducing Chinese demand for Japanese components. Growth of jobs and labour income could boost consumer sentiment eventually, reversing an 18-month slide in confidence and consumption.


Subject Ideological conflict between China and the United States. Significance A leaked report from China’s intelligence community warns leaders of growing international hostility over the COVID-19 pandemic that risks military conflict with the United States. It also accuses Washington of attempting to destabilise Communist Party rule by fomenting public opposition. Impacts The soft touch necessary for Beijing to win hearts and minds abroad will be undermined by the nationalist messages popular at home. US attempts to discredit the Party will not gain much traction with the Chinese public, who generally assume ulterior motives. Chinese propaganda about Western decline may resonate in developing countries, whose cooperation matters for the Belt and Road Initiative.


2020 ◽  
Vol 15 (2) ◽  
pp. 121-126
Author(s):  
Takisha Durm

PurposeThe Girl Who Buried Her Dreams in a Can, written by Dr Tererai, profiles a cultural, yet global experience of the power of believing in one's dream. Through this study of the similarities and differences of how children in the United States and abroad live and dream of a better life, this lesson seeks to enhance students' understandings of the power and authority they possess to effect change not only within their own lives but also in the lives of countless others in world. After reading the text, students will work to create vision boards illustrating their plans to effect change within their homes, schools, communities, states or countries. They will present their plans to their peers. To culminate the lesson, the students will bury their dreams in can and collectively decide on a future date to revisit the can to determine how far they have progressed in accomplishing their goals.Design/methodology/approachThis is an elementary grades 3–6 lesson plan. There was no research design/methodology/approach included.FindingsAs this is a lesson plan and no actual research was represented, there are no findings.Originality/valueThis is an original lesson plan completed by the first author Takisha Durm.


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