Is the US no longer the economy of first resort? Changing economic relationships in the Asia-Pacific region

This paper tests the hypothesis that the economic relationships between China and her major trading partners have changed over the past 20 years with the industrialisation of China, and the emergence of Japan as a source of investment and network trade in sophisticated manufactures, and the US as a source of finance and investment assets, supplier of services and an apparently inexhaustible demand for consumer and intermediate goods. Has this changed the size and direction of spillovers in the region, and has it curtailed or eliminated American economic leadership? We use time-varying spectral methods to decompose the links between the two leading Asian economies and the US. We find: (a) the links with the US have been weakening, while those based on China have strengthened; (b) that this is not new � it has been happening since the 1980s, but has now been reversed by the surge in trade; (c) that the links with the US have been rather complex, with the US able to shape the cycles elsewhere through her control of monetary conditions, but the China zone able to control the size of their cycles; (d) that Japan remains linked to (and dependent on) the US; and (e) there is no evidence that pegged exchange rates encourage convergence

Sectoral Transformations in Neo-Patrimonial Rentier States: Tourism Development and State Policy in Egypt

This article challenges claims that liberalising state regulated markets in developing countries may induce lasting economic development. The analysis of the rise of tourism in Egypt during the last three decades suggests that the effects of liberalisation and structural adjustment are constrained by the neo-patrimonial character of the Egyptian political system. Since the decline of oil rent revenues during the 1980s tourism development was the optimal strategy to compensate for the resulting fiscal losses. Increasing tourism revenues have helped in coping with macroeconomic imbalances and in avoiding more costly adjustment of traditional economic sectors. Additionally, they provided the private elite with opportunities to generate large profits. Therefore, sectoral transformations due to economic liberalisation in neo-patrimonial Rentier states should be described as a process, which has led to the diversification of external rent revenues, rather than to a general downsizing of the Rentier character of the economy.Egypt, rentier state, economic liberalisation, economic development, tourism

From Phase Space Representation to Amplitude Equations in a Pattern Forming Experiment

We describe and demonstrate a method to reconstruct an amplitude equation from the nonlinear relaxation dynamics in the succession of the Rosensweig instability. A flat layer of a ferrofluid is cooled such that the liquid has a relatively high viscosity. Consequently, the dynamics of the formation of the Rosensweig pattern becomes very slow. By sudden switching of the magnetic induction, the system is pushed to an arbitrary point in the phase space spanned by the pattern amplitude and the magnetic induction. Afterwards, it is allowed to relax to its equilibrium point. From the dynamics of this relaxation, we reconstruct the underlying fully nonlinear equation of motion of the pattern amplitude. The measured nonlinear dynamics serves to select the best weakly nonlinear expansion which describes this hysteretic transition.Comment: 20 pages, 12 figure

GPU Accelerated Explicit Time Integration Methods for Electro-Quasistatic Fields

Electro-quasistatic field problems involving nonlinear materials are commonly discretized in space using finite elements. In this paper, it is proposed to solve the resulting system of ordinary differential equations by an explicit Runge-Kutta-Chebyshev time-integration scheme. This mitigates the need for Newton-Raphson iterations, as they are necessary within fully implicit time integration schemes. However, the electro-quasistatic system of ordinary differential equations has a Laplace-type mass matrix such that parts of the explicit time-integration scheme remain implicit. An iterative solver with constant preconditioner is shown to efficiently solve the resulting multiple right-hand side problem. This approach allows an efficient parallel implementation on a system featuring multiple graphic processing units.Comment: 4 pages, 5 figure