ABSTRACT
During the current global COVID-19 crisis Taiwan has portrayed itself as both an example for other countries to follow and as a country willing to assist others in their own efforts with the virus. Taiwan has also renewed efforts to participate in the World Health Organization (WHO), an organisation from which it is currently excluded. Although some countries have supported Taiwan's efforts to participate in the WHO or have praised its COVID-19 response, others have been silent or even critical, sometimes citing commitments to a "one China policy." In this paper, we use newly collected data to explore cross-national variation in support for Taiwan during the current pandemic. We find that a country's level of economic development and security ties with the US are strongly correlated with support for Taiwan while a country's economic ties to China is a less consistent predictor.
ABSTRACT
The current relations between the United States and China, which are largely defined by the phrase trade war, are analyzed. The authors place an emphasis on the economic, political, and legal aspects of these relations and the direct and indirect consequences of the trade war for both its participants and the world community. Attention is focused on the first months of 2020, when, in particular, a trade and economic agreement was signed between the parties. Individual sections of the agreement are considered, including those related to intellectual property; the promotion of American medicines to the Chinese market; and China's obligations to purchase American manufactured goods, agricultural products, and fuels. A brief excursion into the history of the trade war is undertaken, the position of the parties is shown, and key problems of the dialogue are identified. New factors affecting this dialogue are considered: the recession that has begun in the global economy and the emergence and spread of the coronavirus epidemic. The actions of the parties to respond to the new challenges are evaluated.
ABSTRACT
The main financial markets in the Iranian Economy include the stock exchange, foreign exchange, oil, and gold markets. The sharp fluctuations in these markets, especially those caused by the severe sanctions imposed on Iran in May 2018, and the pandemic outbreak of Covid-19 have led to more confusion and uncertainty among investors. One of the effective approaches to examine such unstable conditions is to study the co-movement(s) between markets to identify the leading variable(s). Thus, in the present study, Wavelet Coherence Analysis was applied to examine the co-movements between markets in a time period from September 2014 to June 2020, as an intense period of uncertainty in Iran. In other words, in this study, the markets were investigated in different sub-periods. Also, the Segmented Regression was performed to estimate the impact of sanctions and the Covid-19 pandemic on the co-movements of financial markets in Iran. The results showed that the oil price had a low co-movement with the other three markets, i.e. stock exchange, exchange rate, and gold markets. Thus, the oil market can be a suitable alternative for risk aversion investors. Meanwhile, the oil market could also act as a source of finance for the government during the sanctions period. That possibly explains the recent decision by the Iranian government to use the oil market to finance its budget deficit. Between the exchange rate and gold price, the gold price was identified as the leading variable. While the exchange rate and gold price did not show a significant co-movement in stable conditions, they did show a significant co-movement in unstable conditions, as in times of sanctions or during a global pandemic and thus influenced the investors' portfolio risk. This result is important from a policy-making perspective. Based on this result, the policymakers can, especially during crises and unstable conditions, control the gold market and make it more stable by managing the foreign exchange market.