Category: Kevin Gallagher

Chinese whisper in American neighborhood

July 23rd, 2014 in 2014, College and Graduate School of Arts and Sciences, Kevin Gallagher, Newsmakers 0 comments

GallagherRT
Kevin Gallagher, College of Arts & Sciences

After the major headline hogging BRICS summit, the next news event that has been watched closely is the Chinese President Xi Jinping’s visit to Latin America…

Expert quote:

China has been much more strategic. The West has been mired in financial crisis and political gridlock on the home front, and the Middle East in foreign policy. China’s economy has been strong, and they have built a number of supporting institutions to help their firms move abroad. China has done in 15 years what it took decades for the West to do in the region.”

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Xi Flies to Argentina With $7.5 Billion in Tow

July 19th, 2014 in 2014, Bloomberg, College and Graduate School of Arts and Sciences, Kevin Gallagher, Newsmakers 0 comments

GallagherBloomberg
Kevin Gallagher, College of Arts & Sciences

Chinese President Xi Jinping arrived in Argentina today to sign trade and investment agreements for at least $7.5 billion to develop energy and transport infrastructure projects…

Expert quote:

“Argentina is in a beggar’s position. They need the foreign reserves and they need the FDI and China is the only country outside of the orbit of the U.S. court decision that is willing to put money on the table.”

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China, Russia leaders seek South American inroads

July 18th, 2014 in 2014, Associated Press, College and Graduate School of Arts and Sciences, Kevin Gallagher, Newsmakers 0 comments

GallagherAssociated Press
Kevin Gallagher, College of Arts & Sciences

It’s enough to make an aging U.S. Cold Warrior shudder. During overlapping visits to Latin America, the leaders of China and Russia have been welcomed with open arms by governments that are among the most hostile to Washington, including Cuba, Nicaragua and Venezuela…

Expert quote:

“These are all countries the U.S. has some real question marks about. It’s going to require some PR so as not to be interpreted in certain, phobic circles as an overt alignment with left-leaning governments at odds with the U.S.”

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Emerging Nations Bloc to Open Development Bank

July 16th, 2014 in 2014, College and Graduate School of Arts and Sciences, Kevin Gallagher, New York Times, Newsmakers 0 comments

GallagherNew York Times (subscription required)
Kevin Gallagher, College of Arts & Sciences

At a meeting in Brazil, the leaders of Brazil, Russia,IndiaChina and South Africa announced on Tuesday that they were establishing a development bank to challenge the influence of venerable institutions like the World Bank and the International Monetary Fund

Expert quote:

“They still have just shy of half the world’s population. They are a force regardless of their growth rate, which will remain faster when averaged than the West’s for years to come.”

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The biggest challenge for BRICS success? Big brother China

July 15th, 2014 in 2014, College and Graduate School of Arts and Sciences, Kevin Gallagher, Newsmakers, Reuters 0 comments

GallagherReuters
Kevin Gallagher, College of Arts & Sciences

In two years of tough negotiations to create the new BRICS development bank, the main stumbling block was not a lack of resources or commitment, but fellow partner China…

Expert quote:

“This is a big challenge for the BRICS. Sometimes when you get down to the actual negotiations and countries want more say, they forget about some of their lofty aspirations when they were criticizing the IMF and World Bank.”

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BRICS announce $200B challenge to world financial order

July 15th, 2014 in 2014, Al Jazeera America, College and Graduate School of Arts and Sciences, Kevin Gallagher, Newsmakers 0 comments

GallagherAl Jazeera America
Kevin Gallagher, College of Arts & Sciences

After years of railing against the Western-dominated global financial order, a powerful bloc of the world’s emerging economies has finally done something about it. On Tuesday, the BRICS nations — Brazil, Russia, India, China and South Africa — formally introduced their long-awaited $100 billion development bank to be headquartered in Shanghai and a currency reserve of the same size, institutions that aim to be both competitor and antithesis to the World Bank and International Monetary Fund…

Expert quote:

“This could really be the seeds of the next Bretton Woods that in the long run replaces the international financial institutions. And that would be the West’s fault, because they haven’t let those institutions adapt to the realities, needs and expertise of the 21st century.”

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China’s Xi begins 2nd trip to Latin America, in sign of expanding role

July 14th, 2014 in 2014, College and Graduate School of Arts and Sciences, Kevin Gallagher, McClatchy Newspapers, Newsmakers 0 comments

GallagherMcClatchy Newspapers
Kevin Gallagher, College of Arts & Sciences

Chinese President Xi Jinping on Tuesday starts his second lengthy trip to Latin America in barely more than a year, showering attention on a region partially neglected by Washington and relishing China’s role as the biggest financier to Latin America…

Expert quote:

“The China boom lifted the Latin American boat for a long time. They’re all happy that they’ve got China, but the honeymoon stage is over,” Gallagher added. “They’re all running current account deficits with China now.”

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Latin America has power to reshape relations with China – but will it use it?

July 14th, 2014 in 2014, Christian Science Monitor, College and Graduate School of Arts and Sciences, Kevin Gallagher, Newsmakers 0 comments

GallagherChristian Science Monitor
Kevin Gallagher, College of Arts & Sciences

South American nations have a lot of issues to raise with China: questionable labor and environmental practices of Chinese firms in the Andes; unfair trade rules toward major exporters like Brazil; the region’s desire to evolve from a mere commodities supplier to an advanced manufacturing base…

Expert quote:

“The region doesn’t take enough advantage of having so many assets that the Chinese can’t get anywhere else – soy, iron, copper. Latin America could punch above its weight a little more.”

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New powers ready for the ‘Rio consensus’ era

July 14th, 2014 in 2014, College and Graduate School of Arts and Sciences, Kevin Gallagher, Newsmakers, OP-EDs by BU Professors 0 comments

GallagherIndependent Online
By Kevin Gallagher, College of Arts & Sciences

Conveniently scheduled at the end of the World Cup, Brazil hosts the leaders of fellow Brics members Russia, India, China and South Africa in a meeting that presents them with a truly historic opportunity. While in Brazil, the five countries hope to establish a new development bank and reserve currency pool arrangement….

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BRICS fight waning clout with $1 Billion deal in Brazil summit

July 14th, 2014 in 2014, Bloomberg, College and Graduate School of Arts and Sciences, Kevin Gallagher, Newsmakers 0 comments

GallagherBloomberg
Kevin Gallagher, College of Arts & Sciences

The leaders of five of the world’s largest emerging markets will showcase a new currencyreserve fund anddevelopment bank this week. Critics say neither is enough to revive the group’s waning clout…

Expert quote:

“They can say, ‘look, we have an alternative. It gives you a lot of political leverage.”

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