America's decoupling from China narrative: development, determinants, and policy implications

America's decoupling from China debate started after July 2018, reached its peak in August 2020, and is likely to continue even if it may not be a high priority for the Biden administration. Many studies have examined various aspects of this topic. Unlike previous research, using Google Trends data, this study creatively created a high-frequency weekly dataset to measure the narrative of decoupling from China in the US. Based on this dataset from January 2020 to June 2021, three issues are examined from a novel perspective. First, this study provides a quantitative description of its development. Second, for the first time in the academic literature, this study provides empirical evidence on the determinants of the decoupling narrative, including Chinese trade, Chinese investment, Chinese students, Chinese technology, Chinese companies, and Covid-19. Third, this study also discusses the policy implications of these findings. In particular, if the US government wants to adopt an aggressive strategy of decoupling from China in the future, COVID-19 is one tool that could be used. While this study makes original contributions to policy-makers, it also contributes to academia by presenting a (still) new quantitative approach to international relations. [ FROM AUTHOR] Copyright of Journal of Information Technology & Politics is the property of Taylor & Francis Ltd and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full . (Copyright applies to all s.)

A few implications of the COVID-19 pandemic for international business strategy research

The pandemic is not only changing the structure and functioning of the world economy, but it will also have lasting impacts on the international business strategies of large multinational enterprises (MNEs). We have identified new research questions in the realm of effective governance design, host country opportunities and risks, appropriate levels of subsidiary integration, and the desired involvement of foreign subsidiaries in expanding the firm's activity domain. For scholars studying the strategies of the world's largest firms, this is an opportunity to design better research studies, more closely aligned with managerial practice and therefore more likely to include sound managerial prescriptions. (PsycInfo Database Record (c) 2023 APA, all rights reserved)

Decoupling in international business: The 'new' vulnerability of globalization and MNEs' response strategies.

What can MNEs learn from the COVID-19 pandemic? IB scholars have provided ample insights into this question with many focusing on risk management. Complementing these insights, we argue that MNEs should also consider the long-lasting effect that COVID-19, inter alia, had on the institutional logic underlying globalization. The U.S. and its allies have redefined their logic from pursuing cost-reduction to building partnerships based on shared value, aiming to substitute China's role in the world economy. The geopolitical pressure for decoupling from China is the source of 'new' vulnerability of globalization. Such pressure is counteracted by economic rationality, creating unsettled priority between the globalization and deglobalization logics at the macro-level institutional space. Combining both risk-management and institutional logic perspectives, we develop a more comprehensive framework on how MNEs should respond to these challenges. This paper contributes to the debate regarding the impact of COVID-19 on globalization, suggesting that neither globalization nor deglobalization logics will prevail in the short run, and IB will likely be more fractured in the long run, based on not only geographic but also ideological and value propinquity. In strategic sectors, the balance will shift toward bifurcation while in others the balance will shift toward the globalization logic.

Que peuvent apprendre les entreprises multinationales (Multinational Enterprises ­ MNEs) de la pandémie de COVID-19 ? A cette question, les chercheurs en affaires internationales (International Business ­ IB) ont fourni de nombreux renseignements dont beaucoup se concentrent sur la gestion des risques. En complément de ces renseignements, nous argumentons que les MNEs devraient également tenir compte de l'effet durable que la COVID-19 a eu, entre autres, sur les logiques institutionnelles sous-tendant la globalisation. Les États-Unis et leurs alliés ont redéfini leur logique, passant de la recherche de la réduction des coûts à la construction de partenariats fondés sur la valeur partagée, et ce dans le but de substituer le rôle de la Chine dans l'économie mondiale. La pression géopolitique en faveur de la dissociation de la Chine constitue la source de la "nouvelle" vulnérabilité de la globalisation. Une telle pression est contrecarrée par la rationalité économique, impliquant une priorité instable entre les logiques de globalisation et de dé-globalisation dans l'espace institutionnel au niveau macro. En combinant les perspectives de la gestion des risques et de la logique institutionnelle, nous développons un cadre théorique plus complet sur la façon dont les MNEs devraient répondre à ces défis. Cet article contribue au débat sur l'impact de la COVID-19 sur la globalisation en suggérant que ni la logique de globalisation ni celle de dé-globalisation ne prévaudront à court terme, et que l'IB sera probablement plus fracturé à long terme en fonction de la proximité géographique, idéologique et de valeurs. Dans les secteurs stratégiques, l'équilibre penchera vers la bifurcation tandis que dans d'autres, il penchera vers la logique de globalisation.

¿Qué pueden aprender las empresas multinacionales de la pandemia? Los académicos de negocios internacionales han dado numerosos aportes sobre esta pregunta, muchas de ellas enfocadas en la gestión de riesgos. Complementando estos aportes, sostenemos que las empresas multinacionales deben también considerar el efecto duradero que COVID, entre otras cosas, tuvo en las lógicas institucionales que subyacen la globalización. Los Estados Unidos y sus aliados han redefinido su lógica de perseguir reducción de costos a la construcción de valor basado en valor compartido, con el objetivo de substituir el papel de China en la economía mundial. La presión geopolítica para desacoplarse de China es la fuente de la "nueva" vulnerabilidad de la globalización. Esta presión es contrarrestada con la racionalidad económica, creando prioridades inestables entre las lógicas de globalización y desglobalización a nivel macro del espacio institucional. Combinando las perspectivas tanto gestión de riesgos como la lógica institucional, desarrollamos un marco más completo sobre las multinacionales deben responder a estos retos. Este manuscrito contribuye al debate sobre el impacto del COVID-19 en la globalización, indicando que ni la lógica de globalización o de desglobalización van a prevalecer en el corto plazo, y los negocios internacionales estén más fracturados en el largo plazo, en función no solo en la proximidad geográfica, sino también ideológica y de valores. En sectores estratégicos la balanza se inclinará hacia la bifurcación mientras que en los otros la balanza se inclinará a la lógica de globalización.

O que MNEs podem aprender com a pandemia do COVID-19? Acadêmicos de IB forneceram amplos insights sobre essa questão, muitos deles focados no gerenciamento de riscos. Complementando esses insights, argumentamos que MNEs também devem considerar o efeito duradouro que o COVID-19 teve, entre outros, nas lógicas institucionais subjacentes à globalização. Os EUA e seus aliados redefiniram sua lógica de buscar a redução de custos para construir parcerias baseadas no valor compartilhado, visando substituir o papel da China na economia mundial. A pressão geopolítica para a separação da China é a fonte da "nova" vulnerabilidade da globalização. Tal pressão é contrabalançada pela racionalidade econômica, criando uma prioridade instável entre as lógicas da globalização e da desglobalização no espaço institucional de nível macro. Combinando as perspectivas de gerenciamento de risco e lógica institucional, desenvolvemos um modelo mais abrangente sobre como MNEs devem responder a esses desafios. Este artigo contribui para o debate sobre o impacto do COVID-19 na globalização, sugerindo que nem a lógica da globalização nem a da desglobalização prevalecerão no curto prazo, e IB provavelmente será mais fendido no longo prazo, com base não apenas na proximidade geográfica, mas também na ideológica e de valor. Em setores estratégicos o equilíbrio se deslocará para a bifurcação enquanto em outros o equilíbrio se deslocará para a lógica da globalização..

CSR, credibility, employees' rights and legitimacy during a crisis: a critical analysis of British Airways, WizAir and EasyJet cases

Purpose: Using legitimacy and impression management theories, this study examines whether there is evidence of Corporate Social Responsibility (CSR) decoupling by critically analysing the cases of three Financial Times Stock Exchange (FTSE) 350 airline companies (British Airways, WizAir, and Easyjet). The study focusses on three CSR aspects: community, customer, and employee support. Design/methodology/approach: Using the case study method, the authors critically analysed the content of the three companies' websites and verified Twitter accounts between March 2020 and August 2020. The authors also reviewed news media sources tied explicitly to COVID-19 and the airline industry. Findings: The study finds evidence of CSR decoupling due to inconsistencies between the three airline companies' communication about the companies' commitment to customers' health and safety and their actions. The study also uncovers that the three airline companies have violated employee rights by imposing unjustifiable and excessive redundancies and pay cuts, freezing planned pay rises, forcing unpaid leaves, and in some cases, suspending free meals during the crew shifts and exploiting the financial pressure and lack of jobs resulting from the pandemic by offering employees inferior contracts. Research limitations/implications: This paper responds to He and Harris's (2020) call for research to explore the impact of the global pandemic on CSR practices and Crane and Matten's (2020) call for research investigating how specific stakeholders get unvalued during the pandemic. The authors' study argues that the social responsibility of organisations, especially during crises, should not only focus on voluntary and charitable deeds but also on supporting employees, putting employees' well-being at the forefront of employees' operations, and maintaining credibility and sincerity in employees' communication and actions. Practical implications: The findings in this paper provide insights and policy implications for managers, stakeholders, and regulators. The paper sheds light on violations of employee rights, indicating that employees in the airline sector are amongst the under-appreciated stakeholders during the pandemic. Such knowledge is essential for practitioners and policymakers who are charting paths forward to address the needs of vulnerable categories of employees. The paper also elucidates the impact of CSR decoupling on an organisation's legitimacy and the significance of maintaining credibility in CSR communications and actions, especially during a crisis. Originality/value: Although exploring and analysing CSR practices in organisations has already attracted considerable interest in recent years, there is minimal knowledge about organisations' genuine commitment to CSR during the pandemic, and there is a dearth of relevant studies in the aviation industry during the COVID-19 pandemic. This study addresses this gap by exploring the CSR practices of three airline companies and the companies' genuine commitment to CSR during the pandemic. © 2022, Emerald Publishing Limited.

The Economic Consequences of Xi Jinping

In the aftermath of the 20th National Congress of the Chinese Communist Party, Xi Jinping’s principal focus will be on state and national security, while an entirely new economic- and financial-policy team, with little experience, will take charge of China’s troubled economy. Its members will have to manage several systemic problems – a debt mountain, a property bust, a rapidly ageing population, zero-COVID policies – and develop a viable new economic-development model. This would be a demanding agenda anywhere, but Xi’s China has to tackle it guided by an ever more devoutly Leninist approach to economic management, industrial policy and governance, at a time when China faces the most hostile external environment it has known since Mao Zedong, as exemplified by foreign decoupling. Although Xi’s China is capable of important accomplishments in science and technology, and of flexing its diplomatic and military muscles in defence of its interests, China’s politics may be much less capable of fixing the country’s systemic economic and financial weaknesses. The consequences of Xi Jinping’s economic programme, including an emphasis on self-reliance, promise to extend beyond China’s borders to foreign actors and countries that once benefited from its economic rise.

Future outlook and influencing factors analysis of natural gas consumption in Bangladesh: An economic and policy perspectives

The development of mechanization and technology has triggered the rising energy consumption in various sectors. The study objective is to investigate the relationship between gas consumption share, energy intensity, economic structure share, per capita gross domestic value, and population at the sectorial level from 1994 to 2020. This study analyzes the factors in three ways: first, the study applies decomposition analysis between key factors. Second, an appropriate decoupling method is applied to investigate the impacting factors to check the driving factors affecting the decoupling using the logarithmic mean Divisia index method. Third, based on aggregated and sectorial variations, the ratio decomposition of each sector is estimated. The results show that the economic activity effect is the main driving factor in raising gas consumption, which increased by 15.11 crore Tk./million during 1994–2020. The energy intensity trend declined by 14.87 Mtoe/crore Tk., which shows an imperative role in natural gas consumption efficiency for production and in economy. The economic structure share provided a record decline by 52.79 crores Tk. during the COVID-19 situation while a significant increase in gas consumption was found until 2013, which could be significant under decomposition changes. Three decoupling states such as expansive negative decoupling, expansive coupling and weak decoupling were found in which the decoupling relationship was gradually a dominated by a weak decoupling. The sectorial index provides a maximum of weak decoupling in which energy-saving technology gap change was found in power, captive power, industry, tea estate, compressed natural gas, and fertilizer sectors. Finally, the scenarios analyzed that natural gas consumption estimates maximum gross domestic product and conserves more energy in the future. Briefly, the decoupling process and its leading factors were obvious among nine major sectors.

CSR decoupling and neglecting employee rights: Examining the aviation industry during COVID-19

Purpose: This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach: This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings: During moments of crisis, it is essential that companies not only look to promote sustainable proceedings to their stakeholders but also enact it, especially ensuring employee rights are maintained and providing support to reduce the chances of CSR decoupling. Originality/value: The briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format. © 2022, Emerald Publishing Limited.

The changing contours of global value chains post-COVID: Evidence from the Commonwealth.

The COVID-19 pandemic emphasised the global value chains (GVCs) debate by focussing on whether gains from GVC participation outweigh firms associated risks of demand and supply shocks amid rising protectionism. This paper bridges the gap between the international trade and management literature by examining the impact of COVID-19 on Commonwealth countries, an area that has received scant attention in academic literature. Using the Eora database, we simulate scenarios to examine Commonwealth countries' participation in GVCs post-COVID. We draw on the transaction cost economics (TCE) theory to develop a framework that investigates whether growing protectionism, associated with reshoring, decoupling and nearshoring, could potentially affect the constellation and participation of Commonwealth countries in GVCs post-COVID. Results show that trade protectionism is likely to impact the supply chains and lead to GVC reconfiguration, which could offer opportunities for the Commonwealth countries and firms to potentially gain following the geographical redistribution of suppliers.

From base data to knowledge discovery – A life cycle approach – Using multilayer networks

Analysis of complex data sets to infer/discover meaningful information/knowledge involves (after data collection and cleaning): (i) Modeling the data – an approach for deriving a suitable representation of data for analysis, (ii) translating analysis objectives into computations on the generated model instance;these computations can be as simple as a query or a complex computation (e.g., community detection over multiple layers), (iii) computation of expressions generated – considering efficiency and scalability, and (iv) drill-down of results to understand them clearly. Beyond this, it is also useful to visualize results for easier understanding. Covid-19 visualization dashboard presented in this paper is an example of this. This paper covers the above steps of data analysis life cycle using a representation (or model) that is gaining importance. With complex data sets containing multiple entity types and relationships, an appropriate model to represent the data is important. For these data sets, we first establish the advantages of Multilayer Networks (or MLNs) as a data model. Then we use an entity-relationship based approach to convert the data set into MLNs for a precise representation of the data set. After that, we outline how expected analysis objectives can be translated using keyword-mapping to aggregate analysis expressions. Finally, we demonstrate, through a set of example data sets and objectives, how the expressions corresponding to objectives are evaluated using an efficient decoupling-based approach. Results are further drilled down to obtain actionable knowledge from the data set. Using the widely popular Enhanced Entity Relationship (EER) approach for requirements representation, we demonstrate how to generate EER diagrams for data sets and further generate, algorithmically, MLNs as well as Relational schema for analysis and drill down, respectively. Using communities and centrality for aggregate analysis, we demonstrate the flexibility of the chosen model to support diverse set of objectives. We also show that compared to current analysis approaches, a “decoupling-based” approach using MLNs is more appropriate as it preserves structure as well as semantics of the results and is very efficient. For this computation, we need to derive expressions for each analysis objective using the MLN model. We provide guidelines to translate English queries into analysis expressions based on keywords. Finally, we use several data sets to establish the effectiveness of modeling using MLNs and their analysis using the decoupling approach that has been proposed recently. For coverage, we use different types of MLNs for modeling, and community and centrality computations for analysis. The data sets used are from US commercial airlines, IMDb (a large international movie data set), the familiar DBLP (or bibliography database), and the Covid-19 data set. Our experimental analyses using the identified steps validate modeling, breadth of objectives that can be computed, and overall versatility of the life cycle approach. Correctness of results is verified, where possible, using independently available ground truth. Furthermore, we demonstrate drill-down that is afforded by this approach (due to structure and semantics preservation) for a better understanding and visualization of results.

CSR, credibility, employees' rights and legitimacy during a crisis: a critical analysis of British Airways, WizAir and EasyJet cases

Purpose Using legitimacy and impression management theories, this study examines whether there is evidence of Corporate Social Responsibility (CSR) decoupling by critically analysing the cases of three Financial Times Stock Exchange (FTSE) 350 airline companies (British Airways, WizAir, and Easyjet). The study focusses on three CSR aspects: community, customer, and employee support. Design/methodology/approach Using the case study method, the authors critically analysed the content of the three companies' websites and verified Twitter accounts between March 2020 and August 2020. The authors also reviewed news media sources tied explicitly to COVID-19 and the airline industry. Findings The study finds evidence of CSR decoupling due to inconsistencies between the three airline companies' communication about the companies' commitment to customers' health and safety and their actions. The study also uncovers that the three airline companies have violated employee rights by imposing unjustifiable and excessive redundancies and pay cuts, freezing planned pay rises, forcing unpaid leaves, and in some cases, suspending free meals during the crew shifts and exploiting the financial pressure and lack of jobs resulting from the pandemic by offering employees inferior contracts. Research limitations/implications This paper responds to He and Harris's (2020) call for research to explore the impact of the global pandemic on CSR practices and Crane and Matten's (2020) call for research investigating how specific stakeholders get unvalued during the pandemic. The authors' study argues that the social responsibility of organisations, especially during crises, should not only focus on voluntary and charitable deeds but also on supporting employees, putting employees' well-being at the forefront of employees' operations, and maintaining credibility and sincerity in employees' communication and actions. Practical implications The findings in this paper provide insights and policy implications for managers, stakeholders, and regulators. The paper sheds light on violations of employee rights, indicating that employees in the airline sector are amongst the under-appreciated stakeholders during the pandemic. Such knowledge is essential for practitioners and policymakers who are charting paths forward to address the needs of vulnerable categories of employees. The paper also elucidates the impact of CSR decoupling on an organisation's legitimacy and the significance of maintaining credibility in CSR communications and actions, especially during a crisis. Originality/value Although exploring and analysing CSR practices in organisations has already attracted considerable interest in recent years, there is minimal knowledge about organisations' genuine commitment to CSR during the pandemic, and there is a dearth of relevant studies in the aviation industry during the COVID-19 pandemic. This study addresses this gap by exploring the CSR practices of three airline companies and the companies' genuine commitment to CSR during the pandemic.

The implicit cost of carbon abatement during the COVID-19 pandemic.

This paper provides novel estimates of the implicit cost of carbon abatement associated with the COVID-19 crisis. We compare that to the costs from renewable investments that would lead to similar abatement. Focusing on the Spanish economy and its power sector, we combine machine learning and simulation tools to construct a precise counterfactual of market performance in absence of the crisis. Results suggest that power sector CO2 emissions fell by 4.13 Million Tons (about 11.5%) during 2020 due to the pandemic, less than half of the actual year-on-year emissions reductions. Investing in renewables to achieve similar carbon abatement would yield an implicit cost of 60-65 Euro/Ton of CO2. Conversely, the pandemic caused a substantial GDP loss in Spain, relative to the extent of overall carbon abatement. The resulting cost of carbon abatement associated with the pandemic thus exceeded 7 thousand Euro/Ton.

The Global Quest for Green Growth: An Economic Policy Perspective

Economic growth has historically been the main driver of rising greenhouse gas (GHG) emissions. To achieve steep emission reductions, the world would have to either decouple global GHG emissions from gross domestic product (GDP) at an unprecedented pace or face deep cuts to GDP. The so-called ‘green growth’ literature is optimistic that suitable policies and technology can enable such fast decoupling, while ‘degrowth’ proponents dismiss this and argue that the global economy must be scaled down, and that systemic change and redistribution is necessary to accomplish this. We use the so-called Kaya identity to offer a simple quantitative assessment of the gap between the historic performance in reducing the emission intensity of GDP and what is required for green growth, i.e., the basis of ongoing disagreement. We then review the literature on both degrowth and green growth and discuss their most important arguments and proposals. Degrowth authors are right to point out the considerable gap between current climate mitigation efforts and what is needed, as well as the various technological uncertainties and risks such as rebound effects. However, the often radical degrowth proposals also suffer from many uncertainties and risks. Most importantly, it is very unlikely that alternative welfare conceptions can convince a critical mass of countries to go along with a degrowth agenda. Governments should therefore instead focus on mobilizing the necessary investments, pricing carbon emissions, and encouraging innovation and behavioral change.

The United States-China conflict and the perspectives of the "strategic decoupling"

The article reviews China's rapid rise in the world economy over the last two decades and its implications for global economic governance and, in particular, for China's growing tensions with the United States. Relevant milestones such as China's entry into the World Trade Organization (wto), the subprime crisis, and the covid-19 pandemic are examined. The transition from the trade war between the two powers to a conflict for dominance of the main technologies of the 21st century is documented. The article ends with a reflection on the possible impacts of this conflict on the global economic scene. © 2022 Fondo de Cultura Economica. All rights reserved.

Triplet Decoupling Network for Masked Face Verification

Face verification has been widely applied to identity authentication in many areas. However, due to the mask information embedded into the facial feature representation, existing face verification systems generally fail to identify the faces covered by masks during the COVID-19 coronavirus epidemic period. To address this issue, we propose a new triplet decoupling network (TDN) for the challenging masked face verification. Different from existing works, our proposed TDN seeks to remove the mask information included in extracted facial features by feature decoupling, such that more discriminative facial feature representations can be obtained for masked face verification. In addition, a new triplet similarity margin loss (TSM) is designed to enlarge the margin between the intra-class similarity and the inter-class similarity of faces. Experimental results show that the proposed method significantly outperforms the other state-of-the-art methods on masked face datasets, which demonstrates the effectiveness of our proposed method. © 2021 IEEE.

Spatial-temporal Evolution Characteristics and Decoupling Analysis of Influencing Factors of China's Aviation Carbon Emissions

The aviation industry has become one of the top ten greenhouse gas emission industries in the world. China's aviation carbon emissions continue to increase, but the analysis of its influencing factors at the provincial level is still incomplete. This paper firstly uses Stochastic Impacts by Regression on Population, Affluence and Technology model (STIRPAT) model to analyze the time series evolution of China's aviation carbon emissions from 2000 to 2019. Secondly, it uses the Logarithmic Mean Divisia Index (LDMI) model to analyze the influencing characteristics and degree of four factors on China's aviation carbon emissions, which are air transportation revenue, aviation route structure, air transportation intensity and aviation energy intensity. Thirdly, it determines the various factors' influencing direction and evolution trend of 31 provinces' aviation carbon emissions in China (not including Hong Kong, Macao, Taiwan of China due to incomplete data). Finally, it derives the decoupling effort model and analyzes the decoupling relationship and decoupling effort degree between air carbon emissions and air transportation revenue in different provinces. The study found that from 2000 to 2019, China's total aviation carbon emissions continued to grow, while the growth rate of aviation carbon emissions showed a fluctuating downward trend. Air transportation revenue and aviation route structure promote the growth of total aviation carbon emissions, and air transportation intensity and aviation energy intensity have a restraining effect on the growth of total aviation carbon emissions. The scope of negative driving effect of air transportation revenue and air transportation intensity on total aviation carbon emissions in various provinces has increased. While the scope of positive driving influence of aviation route structure on total aviation carbon emissions of various provinces has increased, aviation energy intensity mainly has negative driving influence on total aviation carbon emissions of each province. Overall, the emission reduction trend in the areas to the west and north of the Qinling-Huaihe River Line is obvious. The decoupling mode between air carbon emissions and air transportation revenue in 31 provinces is mainly expansion negative decoupling. The air transportation intensity effect shows strong decoupling efforts in most provinces, the decoupling effort of aviation route structure effect and aviation energy intensity effect is not prominent. [ FROM AUTHOR] Copyright of Chinese Geographical Science is the property of Springer Nature and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full . (Copyright applies to all s.)

The philanthropic response of substantive and symbolic corporate social responsibility strategies to COVID-19 crisis: Evidence from China.

The COVID-19 epidemic broke out in China in January 2020, which triggered the largest wave of corporate philanthropic donations since the 2008 Sichuan earthquake. Based on A-share listed firms in the Shanghai and Shenzhen stock exchanges in 2020, we study whether substantive and symbolic corporate social responsibility (CSR) strategies affect corporate philanthropic responses during the COVID-19 crisis. We use the lagged annual donation and technical dimension scores (T scores) of rankins ratings (RKS) as proxies of CSR performance and CSR disclosure and then define the CSR gap as the gap between the two. The results show that substantive and symbolic strategies cause firms to have material differential responses in the COVID-19 crisis. Specifically, the CSR gap is negatively related to the possibility and the level of crisis donation. In addition, (1) this difference is more pronounced in the earlier period of the COVID-19 crisis; (2) the negative correlation is more pronounced in private firms; and (3) the crisis donation of firms with either strategy obtains no different response from the capital market. Our evidence suggests that the established CSR strategy influences the substantive response of Chinese firms to public emergencies, but their substantive response does not result in different reactions in the capital market.

The world economy will need even more globalization in the post-pandemic 2021 decade.

Instead of the dire predictions of a post-pandemic world characterized by increased global risks, decoupling of economies, shake-up of global value chains, and the retreat of globalization, this article proposes that the changes induced by heightened nationalism and protectionism will be marginal rather than fundamental in nature. These marginally higher risks can easily be handled and ameliorated by multinational enterprises through alternate cross-border business strategies and emerging technologies. Moreover, the paper gives reasons why the future world economy will need even more globalization.

Au lieu des sombres prédictions d'un monde post-COVID 19 caractérisé par des risques mondiaux accrus, le découplage des économies, le bouleversement des chaînes de valeur mondiales et le recul de la mondialisation, cet article propose que les changements induits par le renforcement du nationalisme et du protectionnisme soient de nature marginale plutôt que fondamentale. Ces risques marginalement plus élevés peuvent facilement être gérés et atténués par les entreprises multinationales (EMN) grâce à des stratégies transfrontalières alternatives et aux technologies émergentes. En outre, l'article donne les raisons pour lesquelles la future économie mondiale aura besoin d'une mondialisation encore plus poussée.

En lugar de las predicciones nefastas de un mundo post-COVID-19 caracterizado por un aumento de los riesgos globales, la desarticulación de las economías, la sacudida de las cadenas de valor global, y la marcha atrás de la globalización, este artículo propone que los cambios inducidos por el nacionalismo y proteccionismo intensificado serán marginales y no fundamentales en su naturaleza. Estos riesgos marginalmente más altos pueden ser manejados fácilmente y mitigados por las empresas multinacionales (MNEs por sus iniciales en inglés) mediante estrategias de negocios transfronterizos y tecnologías emergentes. Más aún, este artículo da razones por las cuales la economía mundial futura necesitará aún más la globalización.

Em vez das terríveis previsões de um mundo pós-COVID19 caracterizado pelo aumento de riscos globais, desacoplamento das economias, desarranjo de cadeias de valor globais e o recuo da globalização, este artigo propõe que as mudanças induzidas pelo nacionalismo e protecionismo exaltados serão de natureza marginal, em vez de fundamental. Esses riscos marginalmente mais altos podem ser facilmente tratados e atenuados por empresas multinacionais (MNEs) por meio de estratégias de negócios internacionais alternativas e tecnologias emergentes. Além disso, o artigo apresenta razões pelas quais a futura economia mundial precisará ainda mais de globalização.