Intellectual property: It sounds boring, but its protection has become one of the cornerstones of U.S. economic policy. And now, it may have an impact on how the Pentagon thinks about the future of technology. In recent years, the big push for international intellectual property protection came about through the concerted action of a group of powerful, well-connected American corporations. These corporations had determined that they could make a great deal of money—or at least stop the loss of a great deal of money—by putting crucial intellectual property protections into international law. Washington has embraced this idea, making intellectual property […]
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The recent publication of the so-called Panama Papers—a trove of 11 million leaked confidential documents from the Mossack Fonseca law firm in Panama City—and the earlier publication of what might be called the Offshore Papers—2.5 million documents linked to the Singapore-based Portcullis law firm and the British Virgin Islands-based Commonwealth Trust Ltd.—have revealed a large number of offshore shell companies owned or linked to individuals and companies in either China or Hong Kong. Although there are legitimate uses for such shell companies, their secretive nature, combined with reports of vast outflows of capital from China, create suspicions that these companies […]
The rise of a global middle class has been one of globalization’s great victories, but the surge in income and consumption in the developing world may be more of a temporary anomaly than a long-term trajectory. Some developing countries have ridden a commodities super-cycle to middle-class status, but most never made it or were far too late with the investments that might have converted the boon into more sustainable growth paths. Commodities are cyclical, and the global middle class may prove to be so as well. From 2001 to 2011, there was an unprecedented surge in the number of people […]
Last month, Chinese President Xi Jinping visited the Czech Republic, where he signed more than 30 deals worth nearly $4 billion. In an email interview, Richard Turcsanyi, the deputy director of the Institute for Asian Studies, Bratislava, discussed Chinese investment in Central and Eastern Europe. WPR: How extensive is Chinese investment in Central and Eastern Europe, and what factors are driving China’s investment strategy there? Richard Turcsanyi: To begin with, it is extremely difficult to establish unequivocally the amount of investments from one country in another’s economy. Various statistical sources notoriously show differences. Putting together the numbers from a range […]
AMSTERDAM—In the hours that followed the explosive revelations known as the Panama Papers, reverberations from the giant data drop were felt around the globe. After all, the 11.5 million documents from the Panamanian firm Mossack Fonseca, leaked anonymously to International Consortium of Investigative Journalists, implicate rich and powerful people from practically every country on Earth as holders of offshore shell companies that are often used for tax evasion purposes. But while the power from the leaks to discredit prominent individuals extended across practically every nation and every system of government, reaction to the revelations was far from uniform. The differences […]