By Abbie Schepps

North Korea now boasts making nuclear warheads small enough to fit onto ballistic missiles. While skeptics question the miniaturized nuclear warhead’s validity, the international community has decided it is not unreasonable. South Korea has introduced unilateral sanctions. It designated 30 companies with links to the North’s nuclear and missile programs, as well as 38 North Korean nationals and two foreigners. All will be banned from the South Korean financial systems. This is the first time South Korea has targeted people and companies by name, a practice used by the United Nations, the United States, and the European Union. Additionally, in an effort to tighten import and export control, South Korea will deny any ships entry that have been to North Korea in the past 180 days. South Korea’s sanctions overlap with measures imposed by the United States and the United Nations. The sanctions illustrate the international community’s intentions to change North Korea.

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March 18, 2016

By Abbie Schepps

The South African gold industry has crumbled. South Africa was the world’s biggest gold producer with more than 75% of all global reserves in 1970. With the creation of wealth, the industry attracted immigrants from around the world and paid for the construction of roads and railroads throughout South Africa. Now, the economic growth has stalled. China’s mineral demand has slowed, and the mines depleted faster than expected. The Washington Post reports that the remaining gold is so inaccessible that miners are met with dangerous quests and the possibility of at least one miner death per day. The country has not faced an economic crisis of this magnitude since the apartheid era racked the county with international sanctions. This crisis has led miners, despite the dangerous conditions, to return illegally to the mines, this time for subsistence, not wealth.

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March 17, 2016

By Abbie Schepps

While 50 plus years of economic sanctions hit Cuba hard in their factories, banking system, and hospitals, it seems to have missed the fans of American movies and television. The Washington Post reports that currently playing, for free, on Cuban television and in the movie theaters is American media content.

Cuban officials claim that since U.S. sanctions remain so restrictive, discussions regarding copyright protection would be a bit premature. While these protections are important, trade issues must be the primary focus for now.  The idea is that once the U.S. eases its aggressive and punitive measures, Cuba will be more willing to discuss protections of property across the board. Of course, the government’s handling of the media content is just a drop in the bucket and nothing in comparison to street-level Cuban bootleggers.

Cuba is not against the protection of intellectual property. As a signatory to major international treaties protecting such property, Cuba has done a good job of enforcing these protections for many U.S. products. Unfortunately, media content is not one of these products. With free media content pervading the country, media piracy will most likely pervade long after efforts to correct the system begin.

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October 30, 2015

By Abbie Schepps

China’s expanding presence and influence is most evident in Latin America. At an all time astonishing rate, Sino-Latin American trade is up 2000% over the past 15 years, making China the leading trade partner and top foreign direct investor of the region. Chinese investment has its hands all over the region, providing a $5 billion loan to Venezuela and investing $20 billion to Peru copper mines, among other investments.

There is nothing outright negative about China’s involvement on the continent, but it is in everyone’s interest to ensure that these deals with China are fair. In order to promote a long-term development agenda, Latin America countries need to band together to pursue a more strategic and institutional approach to engagement with China. Left unchecked however, lasting negative effects could occur. In 2014, Argentina’s exports to China were primarily products like soybeans and oils. Without the overall pursuance of a development strategy, the region may face gradual deindustrialization.

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October 28, 2015

By Abbie Schepps

In Brussels, earlier this month, thousands of European farmers protested to demand emergency aid to offset falling prices for milk, pork, and other products. Blame can be divided amongst many factors, but dairy farmers point fingers at a European Union decision earlier this year to end a quota system that has helped maintain prices. Now, agriculture ministers gathered to consider proposals by the European Commission with the hopes of promoting upward pressure on prices. A proposed plan will provide new funding to national governments and will hopefully halt price decreases by removing products from the market and placing them into storage. It remains to be seen how European farmers will fair, as market prices are not expected to increase until sometime next year. 

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October 01, 2015

By Abbie Schepps

China has devalued its currency, the Yuan, three times in the past month. It was devalued by nearly 2 percent, followed by a 1.6 percent cut and a 1.1 percent cut. This may result in benefits to China such as export growth. It also places pressure on countries surrounding China, who may attempt to follow these currency cuts. In addition, it has the potential to greatly affect the U.S., as a strong dollar has the potential to become even stronger if the Federal Reserve decides to lift interest rates. The U.S. may experience further loss of international business opportunities to Chinese firms, because these firms can offer the same products for less money. It appears that China is sending a message of strength, but this devaluation may actually be a sign of China’s worsening economic condition and a real need to increase their exports.

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September 30, 2015

By Abbie Schepps

The U.S., Russia, Canada, Denmark, Norway and Iceland are all laying claim to an area of the arctic. Rich in oil and holding 30% of the Earth’s natural gas, the countries are engaged in a massive territorial dispute. The real appeal is that the melting ice, vanishing at 13% a decade, is expected to make drilling, mining and shipping easier. In order to claim a portion of the arctic, the countries are going to have to show an extension of their continental shelf, a “hugely expensive and complicated” task. Though Norway is the only nation to have its claim for a portion approved, Canada is currently scrambling to defend its territory. Canada claims this is a sovereign Canadian waterway and not an international waterway. With the arctic ice melting rapidly, there is at least an understanding that these countries are better off cooperating.

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September 16, 2015