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AbstractThis article examines the origin, process, and outcome of an understudied, but important multilateral climate change negotiation: the OECD negotiation to restrict export finance for coal‐fired power projects. It assesses how the United States – the OECD's most powerful member – led the negotiations, and how Japan, South Korea, and China – a non‐OECD state – affected the negotiation's outcome. It shows how internal and external dynamics of the negotiation under the shadow of China's rising market influence shaped the preferences of Japan and South Korea in such a way that constrained US attempts to build new rules in curbing coal export finance. This research illustrates the collective action problem in an increasingly fragmented global governance landscape driven by transitions in global power. Contrary to critics that have identified China's participation in multilateral organizations as weakening the global liberal order, this research shows that a 'club‐based' approach to this liberal order proved ineffective absent China's participation.

Cover -- Title Page -- Copyright -- Dedication -- Contents -- List of Contributors -- About the Series Editors -- Preface -- Part I Enabling and Improving Large-Scale Bio-production -- Chapter 1 Industrial-Scale Fermentation -- 1.1 Introduction -- 1.2 Industrial-Scale Fermentation Today -- 1.3 Engineering and Design Aspects -- 1.4 Industrial Design Examples -- 1.5 Cost Analysis for the Manufacture of Biotechnological Products -- 1.6 Influence of Process- and Facility-Related Aspects on Cost Structure -- Acknowledgments -- References -- Chapter 2 Scale-Down: Simulating Large-Scale Cultures in the Laboratory -- 2.1 Introduction -- 2.2 Heterogeneities at Large Scale and the Need for Scaling Down -- 2.3 Bioreactor Scale-Down -- 2.4 Tools to Study Cell Responses to Environmental Heterogeneities -- 2.5 Physiological Effects of Environmental Heterogeneities -- 2.6 Improvements Based on Scale-Down Studies: Bioreactor Design and Cell Engineering -- 2.7 Perspectives -- Acknowledgment -- References -- Chapter 3 Bioreactor Modeling -- 3.1 Large-Scale Industrial Fermentations: Challenges for Bioreactor Modeling -- 3.2 Bioreactors -- 3.3 Compartment and Hybrid Multizonal/Computational Fluid Dynamics Approaches for the Description of Large-Scale Bioreactor Phenomena -- 3.4 Computational Fluid Dynamics Modeling: Unstructured Continuum Approach (Euler-Euler) -- 3.5 Computational Fluid Dynamics Modeling: Structured Segregated Approach (Euler-Lagrange) -- 3.6 Conclusion -- 3.7 Outlook -- References -- Chapter 4 Cell Culture Technology -- 4.1 Introduction -- 4.2 Overview of Applications for Cell Culture Products and Tissue Engineering -- 4.3 Fundamentals -- 4.4 Bioreactors for Cell Culture -- 4.5 Downstream -- 4.6 Regulatory and Safety Issues -- 4.7 Conclusions and Outlook -- References -- Part II Getting Out More: Strategies for Enhanced Bioprocessing.

We examine the motives for and consequences of 5,317 failed and completed cross-border acquisitions constituting $619 billion of total activity that were led by government-controlled acquirers over the period from 1990 to 2008. We benchmark this activity at the aggregate country level and also at the deal level with cross-border acquisitions involving corporate acquirers over the same period. We find that government-led deal activity is relatively more intense for geographically-closer countries, but also relatively less sensitive to differences in the level of economic development of the acquirer's and target's home countries, in the quality of their legal institutions and accounting standards, and to how stringent are restrictions on FDI flows in their countries. Government-led acquirers are more likely to pursue larger targets with greater growth opportunities and more financial constraints. But, the share-price reactions to the announcements of such acquisitions are not different. Among those deals involving government-controlled acquirers, we do find important differences involving sovereign wealth funds (SWFs). SWF-led acquisitions are less likely to fail, they are more likely to pursue acquirers that are larger in total assets and with fewer financial constraints, and the market reactions to SWF-led acquisitions, while positive, are statistically and economically much smaller. We discuss policy implications in terms of recent regulatory changes in the U.S. and other countries that seek to restrict foreign acquisitions by government-controlled entities.