To ensure adequate oil supply and mitigate geopolitical uncertainties,China has diversified its sources of crude oil imports in recent years.Central Asia is a neighbor region of China,rich in oil and natural gas reser...To ensure adequate oil supply and mitigate geopolitical uncertainties,China has diversified its sources of crude oil imports in recent years.Central Asia is a neighbor region of China,rich in oil and natural gas reserves,which can play an important role in China's strategy to reduce its dependence on energy supplies from the Middle East.The geopolitical attributes of energy and the geopolitical situation in Central Asia determine that Central Asia's energy development and cooperation are disturbed by domestic and foreign factors,and also face the risks of complex energy structural evolution and geopolitical games,which create a unique energy geopolitical pattern in Central Asia.This study proposes an analysis framework for energy geopolitics in Central Asia,arguing that the complexity of energy geopolitics in Central Asia can be demonstrated from the perspectives of both the main countries of energy development(game actors)and the whole-industry-chain of energy development(game themes).The most obvious feature of Central Asian energy geopolitics is the fierce game that is played between key countries and regions,Russia,the United States,China,the European Union(EU),Japan,India,Iran,and Turkey.Strategic geopolitical considerations and resource requirements necessitate the active participation of these players in Central Asian energy development and mean that the foreign policy agendas of states in this region are likely to become ever more crowded.Therefore,the energy cooperation between China and Central Asia faces the geopolitical risks of the great power games.It is necessary to develop reasonable and effective policies to establish guarantee mechanisms to minimize the risks of energy cooperation.This study characterizes the energy geopolitical strategies of Russia,the United States,China,and other related powers in Central Asia.It also assesses the country risks faced by energy cooperation between China and Central Asian countries.To withstand possible geopolitical and country risks,this study develops a serie展开更多
In present days,our instable financial markets,characterized by heavier growing monetary responsibilities,are delivering and enlarging ever growing central banks’functions.The financial stability applied standards ha...In present days,our instable financial markets,characterized by heavier growing monetary responsibilities,are delivering and enlarging ever growing central banks’functions.The financial stability applied standards have been creating contradictory results in the recent Great Recessions since the year 1987 up to the central banks model,after the 2008 last financial crisis,with major central banks as the FED and the CEB(Diamond,2007,pp.189-200)conflicting main operative areas,monetary and financial goals with unexpected results.We have been living a very difficult and dramatic period,which suggests a lot of reconsiderations about what the monetary policy means and may pursue and in which area,with respect to the financial system restrictions,in particular,during the post-second World War,based initially on the pseudo gold dollar parity,things were relatively stable and major financial crises were happening in emerging peripheral markets only.Financial stability was ever relevant,but it was not something to which governments devoted institutional attention.Based on what happened during the recent crisis,it is now of capital responsibility connecting monetary and economic financial stability jointly.Central banks,on the contrary,seem not able to pursue both functions relying on classical market tools.Up to now,the only obligation,imposed to a central bank as a private agent,has been taking care of monetary stability,to contain inflation rates over upper limits,assumed in entering definitely in the legal tender monetary,regime almost everywhere over the planet.Originally,for specific monetary policy purposes alone,between central banks and possible financial entities,there were no guidelines or structural determined controls,only institutional and statutory single bank’s operational clauses.There were no legal constraints such as formal loan to-value,or loan to cash-flows,or formal capital level limits,based on actual constraints.Free repurchase agreements and sales or purchases of securities(the most relevant tool展开更多
基金National Natural Science Foundation of China,No.4187118,No.42022007The Strategic Priority Research Program of the CAS,No.XDA20040400。
文摘To ensure adequate oil supply and mitigate geopolitical uncertainties,China has diversified its sources of crude oil imports in recent years.Central Asia is a neighbor region of China,rich in oil and natural gas reserves,which can play an important role in China's strategy to reduce its dependence on energy supplies from the Middle East.The geopolitical attributes of energy and the geopolitical situation in Central Asia determine that Central Asia's energy development and cooperation are disturbed by domestic and foreign factors,and also face the risks of complex energy structural evolution and geopolitical games,which create a unique energy geopolitical pattern in Central Asia.This study proposes an analysis framework for energy geopolitics in Central Asia,arguing that the complexity of energy geopolitics in Central Asia can be demonstrated from the perspectives of both the main countries of energy development(game actors)and the whole-industry-chain of energy development(game themes).The most obvious feature of Central Asian energy geopolitics is the fierce game that is played between key countries and regions,Russia,the United States,China,the European Union(EU),Japan,India,Iran,and Turkey.Strategic geopolitical considerations and resource requirements necessitate the active participation of these players in Central Asian energy development and mean that the foreign policy agendas of states in this region are likely to become ever more crowded.Therefore,the energy cooperation between China and Central Asia faces the geopolitical risks of the great power games.It is necessary to develop reasonable and effective policies to establish guarantee mechanisms to minimize the risks of energy cooperation.This study characterizes the energy geopolitical strategies of Russia,the United States,China,and other related powers in Central Asia.It also assesses the country risks faced by energy cooperation between China and Central Asian countries.To withstand possible geopolitical and country risks,this study develops a serie
文摘In present days,our instable financial markets,characterized by heavier growing monetary responsibilities,are delivering and enlarging ever growing central banks’functions.The financial stability applied standards have been creating contradictory results in the recent Great Recessions since the year 1987 up to the central banks model,after the 2008 last financial crisis,with major central banks as the FED and the CEB(Diamond,2007,pp.189-200)conflicting main operative areas,monetary and financial goals with unexpected results.We have been living a very difficult and dramatic period,which suggests a lot of reconsiderations about what the monetary policy means and may pursue and in which area,with respect to the financial system restrictions,in particular,during the post-second World War,based initially on the pseudo gold dollar parity,things were relatively stable and major financial crises were happening in emerging peripheral markets only.Financial stability was ever relevant,but it was not something to which governments devoted institutional attention.Based on what happened during the recent crisis,it is now of capital responsibility connecting monetary and economic financial stability jointly.Central banks,on the contrary,seem not able to pursue both functions relying on classical market tools.Up to now,the only obligation,imposed to a central bank as a private agent,has been taking care of monetary stability,to contain inflation rates over upper limits,assumed in entering definitely in the legal tender monetary,regime almost everywhere over the planet.Originally,for specific monetary policy purposes alone,between central banks and possible financial entities,there were no guidelines or structural determined controls,only institutional and statutory single bank’s operational clauses.There were no legal constraints such as formal loan to-value,or loan to cash-flows,or formal capital level limits,based on actual constraints.Free repurchase agreements and sales or purchases of securities(the most relevant tool