The ongoing impact of the financial crisis upon the global economy and the concomitant shift towards more regionally-oriented patterns of trade have greatly increased the cogency of the case for more effective policy cooperation at a European level. But that case had already been well-established by the rise of the new emerging powers over the...Read More
The collapse of the Shanghai stock market at the end of August (a downward correction of 37% since 12th June) has brought back to the fore the inherent weaknesses in China’s current economic development. The country’s decreasing growth to 7% over the first six months of the year (with an annual forecast of 6.7% for...Read More
Since Prime Minister Modi took office in May 2014, India has embarked on a number of measures to encourage the development of the country’s economy and the streamlining of its indigenous defence capabilities. Probably the most prominent reform has been the raising of a foreign direct investment cap from 26% to 49% since August 2014,...Read More
This paper utilises long term data series on short-term Japanese interest rates to identify historical changes in interest rate behaviour. Japanese trajectories are then compared to those of key foreign short-term rates and their relationship examined using cointegration analysis to assess the impact of international financial integration. The findings suggest that lasting changes began in...Read More
On 22 June 2013 the Bank of England concluded a Rmb200bn. (US$32.6bn.) currency swap agreement with the Peoples Bank of China in order ‘to promote bilateral trade between the two countries and to support domestic financial stability should market conditions warrant’ (Bank of England 2013; Noble 2013). This is the first such agreement with a...Read More
This is the first of a series of planned reports on microcredit in China. In this paper we offer our view of what is preventing microcredit from developing in China and offer a list of recommendations for Chinese policy makers that wish to promote this sector. Our preliminary analysis suggests that microcredit is not developing...Read More
In the latest GPI Policy Paper, Chris Dixon focuses on the issue of an Asian Monetary Fund (AMF). At the time of its launch in March 2010, the Chiang Mai Initiative Multilateralisation (CMIM) was widely reported, particularly in Asia, as heralding the establishment of an AMF that would provide both an independent alternative to the...Read More
In the wake of the global financial crisis a new international order is coming to the fore, writes Chris Luenen. What we are witnessing today are the birth pangs of a world of three regional monetary and trading blocs. The realisation is slowly setting in that once the global crisis has abated, globalisation, as we...Read More
On 17 April (2009), the second meeting of ASEAN (Association of Southeast Asian Nations) and AAF (Asia Forum) meeting took place in Singapore. This one-day conference was organised by the Singapore Institute of International Affairs (SIIA) and was attended by some 300 representatives of the region’s governments, private sector and think-tanks. Given the timing of...Read More
Recent economic indicators of the performance of the Japanese economy have been weak and prognosis negative. In December Japanese industrial output contracted by 10%. In January this trend intensified. Moreover Toyota has announced 7,000 job losses and Honda a four month closure of their UK plant. Other labour market indicators and consumption related data suggest...Read More
The Global Policy Institute is a research institute on international affairs. It is based in the City of London, and draws on both a rich pool of international thinkers, academics as well as policy and business professionals. The Institute gives non-partisan guidance to policymakers and decision takers in business, government, and NGOs.
