Category Archives: YaleGlobal

Globalization’s Angst and the Brexit Vote

Many voters in the United Kingdom are having second thoughts about leaving the European Union, and not simply because of the plummeting value of currency or stock markets. The referendum’s outcome instantly transformed the UK’s reputation, from being open to trade and diversity to being isolated and insecure. The message contained in the decision to leave the European Union resonates with a lot of people in other countries, explains Farok Contractor, a professor at Rutgers Business School and expert in foreign direct investment, adding that the vote highlighted growing worldwide anxiety over the impact of globalization.

Migration Trends: Young and Poor Move to Lands of Aging Rich

The world’s most troublesome borders for illegal migration have one thing in common, more older people on one side than the other. Large gaps in the median age on either side show a difference of 19 years for Northern Africa and Southern Europe, and 11 years for the United States and Central America. Age differences between sending and receiving nations are a powerful force exerting migratory pressures on borders, argues Joseph Chamie, a demographer and former director of the UN Population Division.

China’s New Economic Plan Tackles the Rebalancing Puzzle

Early reports on China’s Five-Year Plan outlining the government’s strategic priorities for 2016 to 2020 indicate preparations for slowed yet more sustainable economic growth. The plan involves ongoing transition toward an economy that promotes service industries, private consumption, innovation and entrepreneurship. The plan endorses a diversified economy, emphasizing quality rather than quantity for development and avoiding aimless pursuit of hyper-growth, explains Stephen S. Roach, a Yale faculty member. Roach maintains that a secure economy requires confident citizens. The government’s increased emphasis on a social safety net may convince Chinese households to feel more secure about their future and confident about spending, key for sustained growth. A final and detailed plan will be released in March. – YaleGlobal

Big Win by Turkey’s AKP Signals Vote for Stability

Turkey’s Justice and Development Party, also known as AKP, won 317 seats in the General National Assembly with Sunday’s elections more than expected and more than the 276 needed for a majority, but not enough to change the constitution directly. The results confounded pollsters since AKP failed to win a majority in June elections or form a coalition government. Confronting renewed conflict with Kurdish militant groups and the devastating consequences of four years of war in Syria, Turks voted to continue current policies to manage the country’s long-running conflicts, writes Chris Miller, associate director of Yale University’s Grand Strategy Program. Western partners are impatient with the Turkish presidents intolerance of opposition. The decisive win, combined with increased support for AKP from ethnic Kurds, could add pressure for a peace deal with Kurdish PKK militants, Miller explains. Turkey’s ruling party and the Kurds have reason to cooperate in battling Islamic State extremists that control large sections of neighboring Syria and threaten the entire region.YaleGlobal