Gatekeepers of financial power: from London to Lagos

The main premise of this paper is that, until recently, African elites did not regulate or control financial flows moving across the continent. They were not financial gatekeepers. In Africa Since 1940, Cooper identified African elites as gatekeepers regulating access to resources and opportunities passing through strategic sites. This paper makes a case for revision of existing notions of the gatekeeper state in an ongoing effort to (re)negotiate the continent’s colonial past through two new arguments. The first is that financial power was never located at a ‘peripheral’ African gate, but resolutely held onto within leading financial centres, circumventing any opportunity for African elites to control financial flows. Failure to distinguish between types of flows distorts analysis of African political economic power under colonialism. It is only in the post-2000 period, that we see powerful African states driving the integration of African markets into the global financial system. The second argument is that these African goals to control financial flows correspond more to ‘gateway’ strategies than to gatekeeper. Drawing on the case of Lagos, I demonstrate how this ‘gateway’ concept better captures trans-scalar processes of new financial clustering in Africa’s emerging markets than a concept associated with ‘gates’ under Empire

Chapter 8. Canada and China after the Global Financial Crisis

This week marks the first anniversary of the collapse of Lehman Brothers, the unofficial starting date of a global financial crisis unlike any we have seen in a generation. As we welcome the prospect of the Canadian economy emerging from recession, perhaps sooner than expected, the biggest danger we face is to assume that the world will be more or less the same as it was before the economic downturn. The temptation to be complacent is exacerbated by self-congratulatory pronouncements about Ca..

ASEAN External Debt Perspectives

1-10

Measuring Economic Integration in the Asia-Pacific Region: A Principal Components Approach

This paper measures economic integration in the Asia-Pacific (AP) region using a composite index. The weights of the index are obtained from a two-stage principal component analysis. In the first stage, we obtain a convergence index to measure the extent of convergence among the main macroeconomic indicators of a sample of AP economies. In the second stage, we use indicators of trade, FDI, and tourism, as well as the convergence index, to compute the weights for the composite index. We found that economic convergence in the AP region increased until 1998 but has since fallen back. The integration of trade, investment, and people flows increased between 1990 and 2000, weakened slightly to 2003, and has since picked up again. Among the 17 sample economies, Singapore, Hong Kong, and Chinese Taipei are the most integrated with the AP region and Indonesia and China are the least integrated. (c) 2010 The Earth Institute at Columbia University and the Massachusetts Institute of Technology.

The China Challenge

With the exception of Canada’s relationship with the United States, Canada’s relationship with China will likely be its most significant foreign connection in the twenty-first century. As China’s role in world politics becomes more central, understanding China becomes essential for Canadian policymakers and policy analysts in a variety of areas. Responding to this need, The China Challenge brings together perspectives from both Chinese and Canadian experts on the evolving Sino-Canadian relationship. It traces the history and looks into the future of Canada-China bilateral relations. It also examines how China has affected a number of Canadian foreign and domestic policy issues, including education, economics, immigration, labour and language. Recently, Canada-China relations have suffered from inadequate policymaking and misunderstandings on the part of both governments. Establishing a good dialogue with China must be a Canadian priority in order to build and maintain mutually beneficial relations with this emerging power, which will last into the future