Recommended Weekend Reads
June 23 - 25, 2023
Here are our recommended reads from reports and articles we read in the last week. We hope you find these useful and have a great weekend. And let us know if you or someone you know wants to be added to our distribution list.
· “Renewable energy: the next semiconductor?” The Brookings Institution
One of the biggest questions on the horizon for both Washington and Beijing is whether to leave room for collaboration to facilitate the low-carbon transition or to decouple for the sake of strategic competition. In this new research piece, two scholars argue renewable energy must not become the next semiconductor in the U.S.-China competition. They argue that a low-carbon sustainable future is not a prize of geopolitical competition but rather a public good that all responsible countries should provide.
· “The Other Counteroffensive to Save Ukraine: A New European Recovery Program” Foreign Affairs
Former US Treasury Secretary Larry Summers, former World Bank President Robert Zoellick, and the former Executive Director of the 9/11 Commission argue it is time for allied nations to launch a massive new European recovery program – one that will focus on rebuilding and sustaining Ukraine. But the authors argue Western countries should use frozen Russian assets to do it – making Russian President Vladimir Putin’s government, not Western taxpayers, should bear most of the costs.
· “Sanctioning China in a Taiwan crisis: Scenarios and risks” The Atlantic Council & The Rhodium Group
In recent months, growing tensions in the Taiwan Strait as well as the rapid and coordinated Group of Seven (G7) economic response to Russia’s invasion of Ukraine, have raised questions—in G7 capitals and in Beijing alike—over whether similar measures could be imposed on China in a Taiwan crisis. But what would that cost the global economy? China is not Russia – it is a critical part of the global economy, the second largest in the world. This report explores just what might happen if tough sanctions were to be put on China.
· “Brics Face a Reckoning: Enlargement would be a sign not of the group’s strength, but of China’s growing influence” Foreign Policy
In 2001, Goldman Sachs banker Jim O’Neill created the acronym “BRIC” to refer to Brazil, Russia, India, and China—countries he predicted would soon have a significant impact on the global economy. The moniker captured the global excitement about emerging powers at the time and transformed into a political grouping in 2009 when leaders of the four countries held their first summit. But 22 years later, the original BRICs members – on the eve of their 15th summit in Johannesburg in August – are bickering over enlargement.
Who wants to join the BRICS? Thirty nations, including pariah states Iran, Venezuela, Syria, and Nicaragua. (Here is a full list of countries who have indicated they want to join: Afghanistan, Algeria, Argentina, Bahrain, Bangladesh, Belarus, Egypt, Indonesia, Iran, Kazakhstan, Mexico, Nicaragua, Nigeria, Pakistan, Saudi Arabia, Senegal, Sudan, Syria, the United Arab Emirates, Thailand, Tunisia, Turkey, Uruguay, Venezuela, and Zimbabwe).
Chart of the Week
Africa’s Booming Fintech Sector
According to Disrupt Africa, fintech continues to be the leading destination in Africa's startup landscape, accounting for a 32% share. Other sectors beyond fintech—such as entertainment, marketing, transport, recruitment, and Agri-Tech, as well as e-commerce and health—saw unprecedented growth in funding compared to previous years.
Map of the Week
America is Hitting the 40’s
We have written about this in previous Recommended Weekend Reads, but new data out this week from the US Census Bureau further details how America is collectively getting older – we are that close to being 40 years of age as the national median (does that mean we’re going to have a collective mid-life crisis? Maybe we are already having it… that would explain a lot…). By comparison, in 1980, the median age was 30.
Baby Boomers and Millennials are together making our country older – but the rapidly aging population also suggests a possible economic concern: As Axios points out, it is likely an indicator we may face worker shortages in the years to come, particularly in healthcare just when we are all getting older and more in need of health care workers.
