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Post-crisis Asia – economic recovery, September 11, 2001 and the challenges ahead

a heavy toll in terms of lost output and socioeconomic dislocations, it did not destroy the industrial and manufacturing infrastructure and the productive capacities of these economies. The significant investments these countries made in physical plant and equipment served them well as the global economy picked up. Third, domestic fiscal stimulus and a rebuilding of inventories combined with favorable external developments provided Asia’s sagging export sector with a much-needed boost. Specifically, the global output growth of 3 per cent greatly stimulated the

in The Asian financial crisis

being able to rise above considerations of survival and power, and can paradoxically pursue ‘higher’ values such as the common good, welfare, liberty, equality and democracy. However, unlike most traditional analyses of foreign policy and security studies, IPE has always had the potential to cut across this levels-of-analysis distinction. As the world has become a smaller place (the idea of the ‘global village’), analysts increasingly focus on issues involving the interaction, linkages and common features of both international INTERNATIONAL POLITICAL ECONOMY 85 and

in Democratization through the looking-glass
Chinua Achebe’s critique of cosmopolitics

chapter10 21/12/04 11:25 am Page 157 10 ‘The Killer That Doesn’t Pay Back’: Chinua Achebe’s critique of cosmopolitics ‘Cosmopolitics’ is a neologism of recent invention. A response to the proliferation of ethnic-based nationalisms, and to the post-Fordist restructuring of global capitalism, ‘cosmopolitics’ is what a number of liberal thinkers now advocate: a freely created, cosmopolitan cultural identity based on notions of ‘global’ citizenship.1 This worldly sensibility may express itself through voluntary exile from one’s homeland; it may construe the act

in Postcolonial contraventions

of the transformative technology. Pulido (1996) claims that injustices cannot be resolved solely through (socio-) economic restructuring or redistribution, but also require changes to existing social relations, cultural practices and systems of meanings. This still holds if energy transitions are to be truly transformative. In Kenya, the SONG team witnessed first-hand the continuing control and maintenance of one mini-grid system by its project implementers, who are based in the global North. This approach to governing is the antithesis of a just transition. The

in Science and the politics of openness
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introducing a new piece of technology may also result in the need for restructuring or further resourcing. For example, in the case of the GPS units used in the AFL, further resourcing was found to be necessary in the form of data analysts and alternatives for stadiums with roofs that blocked GPS signals. Describing sport as socio-technical answers ANT critics such as Elder-Vass ( 2008 ), who argue that because people have emergent properties, they cannot be treated as equal to non-humans. But he perhaps misses a

in Sport and technology
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The evolving international financial architecture

systems and issuing red alerts when countries fail to provide adequate information; (2) a Contingent Global Financial Facility to provide contingent credit lines to countries that, although solvent, face temporary liquidity problems (to be eligible, these countries would have to meet some minimum standards of disclosure and transparency); and (3) a Global Restructuring Agency to provide conditional lending and policy advice to crisis countries. Edwards’ proposal has the potential to create an even larger bureaucracy, with coordination and duplication problems. Imagine a

in The Asian financial crisis
Implications for jobs and inequality

this process – is seriously inadequate given that national data collection continues to be based on traditional definitions of firms and industries. Nonetheless, extensive field-based and ­industry-specific research has documented the powerful restructuring of supply chains  – ­particularly in manufacturing – since the 1980s. Our most advanced understanding is found in the literature on global production networks (Dicken, 1992) or global commodity chains (Bair, 2009; Gereffi and Koreniewicz, 1994); but here, the poor outcomes for workers are often attributed to the

in Making work more equal
Mainstreaming gender, democratizing the state?

, for example, economic interests divide women, just as their subordinate position vis-à-vis men places them on the same side. Economic interests, especially in the context of global restructuring, have become important markers of difference among women, even as globalization is bringing women closer together across national boundaries through technological and global governance networks (Hoskyns and Rai, 1998; Parpart, Rai and Staudt, 2002). Whose interests, in this context, is not always an easy question to answer. There has also been some debate among feminist

in Mainstreaming gender, democratizing the state?
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Crisis, reform and recovery

following the collapse of the Thai baht in mid-1997 were the proximate causes. Specifically, starting in the early 1990s, the Korean government embarked on an ambitious drive towards globalization, or segyehwa. To this effect, the government began to relax its control over the financial sector, especially its restrictions on foreign borrowing. As a result, the number of financial institutions engaged in foreign-currency-denominated activities increased sharply. This process was greatly accelerated (partly in order to meet OECD requirements) under the first civilian government

in The Asian financial crisis
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Crisis, reform and recovery

priority was to raise the quality of the country’s banking supervision to be move closely in line with international standards. Specifically, three new regulations in the area of loan classification, provisioning and debt-restructuring operations came into effect in late December 1998. In the area of liquidity management, effective early 1999, banks are required to submit a liquidity report twice monthly for their global consolidated operations. Among other things, the report must contain both a foreign-currency liquidity profile and a rupiah and foreign-currency profile. In

in The Asian financial crisis