August 31, 2015
The past few weeks have been turbulent for China’s economy, to say the least, with its currency, the renminbi (RMB) — also known as the yuan — declining sharply, nearly two percent against the dollar on August 11, the biggest one-day change in the currency in 20 years. In total, it experienced a 4.4 percent devaluation from August 11 to August 13, shocking the global financial markets. The world interpreted China's move as a currency war or currency manipulation, prompting the devaluation of currencies in many emerging markets.
July 21, 2015
Does FIFA — the world’s governing body for soccer — act as a corporation, with all the responsibilities that come with being a “business enterprise”? What are FIFA’s obligations in the area of workers’ rights, especially when the World Cup of Soccer is being hosted by a country where legal protections for workers are practically non-existent? This commentary looks at the problems and possible solutions, arguing that FIFA’s power as a producer of world soccer tournaments could be leveraged to ensure that its supply chains reach the highest level of responsible corporate conduct.
July 13, 2015
Are Canadian innovators working within a copyright system that favours outsiders? CIGI Senior Fellow Myra Tawfik looks at Canada’s long history of designing copyright legislation to appease foreign interests, and wonders whether the trade-off in copyright protection is still justifiable.
July 3, 2015
Brazil and Mexico are Latin America’s two largest economies and both share an uneasy relation with investment protection measures. While the two countries share a protectionist past, Mexico has, in recent years, embraced greater openness, while Brazil has resisted. The two countries have starkly different approaches to international investment agreements: Mexico has 28 bilateral investment treaties in force; Brazil has signed 14 such treaties but none are in force. Does the Cooperation and Facilitation of Investment Agreement, signed by Mexico and Brazil on May 26, 2015, indicate a change of outlook for Brazil?
June 11, 2015
Politicians on the stump like to promise voters that government will support business. A recent initiative, Business for the Rule of Law (B4ROL), proposes the opposite: businesses should strengthen government by respecting and promoting the rule of law. Led by the UN Global Compact and promoted by LexisNexis and the Atlantic Council, B4ROL encourages businesses to build practices into their “operations and relationships” that reduce official corruption, improve adjudication and protect contract and property.
May 4, 2015
This article is based on a speech delivered by the Right Honourable Paul Martin on May 4, 2015, at the Think 20 (T20) conference held in Ottawa from May 3 to 5, 2015. Jointly hosted by The Economic Policy Research Foundation of Turkey (TEPAV) and the Centre for International Governance Innovation (CIGI), the conference focuses on Turkey’s G20 agenda, with the aim to summarize the T20’s contributions in the area of monetary and financial cooperation ahead of the G20 summit in Antalya, Turkey in November 2015.
April 29, 2015
Substantial differences in math and reading skills by parental income are already evident by the time children enter school, and persist throughout childhood into adolescence (Carneiro and Heckman 2002; Cunha et al. 2006). Studies also show that income-based differences in adolescent achievement go a long way toward explaining later differences in educational attainment and lifetime earnings (Keane and Wolpin 1997; Carneiro and Heckman 2002). Together, these findings suggest that a generation’s fate may be largely sealed by the time it enters school. If this is true, an understanding of intergenerational mobility and its implications for economic and social policy requires an answer to the vexing question: why do poor children perform so poorly?
April 20, 2015
Two recent developments in global trade point to the long–standing conundrum of regional trade agreements operating within the multilateral trade order centred at the World Trade Organization (WTO).
April 2, 2015
Ten major trends that could affect global governance in the future — from power shifts to climate change — are core to a new strategic plan for the Centre for International Governance Innovation (CIGI), suggesting where potential crises or catalysts could require a significant change in policy thinking.
March 10, 2015
By UNGA resolution 68/304, the Ad Hoc Committee on Sovereign Debt Restructuring Processes was established, with the task of holding three meetings and reporting proposals back to the UNGA in its 69th session. This commentary reports on the committee's first working session, held in New York City from February 3 to 5, 2015.