Global dollar standard: challenges for Asian financial integration
In: Economic change & restructuring, Band 41, Heft 4, S. 369-382
ISSN: 1574-0277
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In: Economic change & restructuring, Band 41, Heft 4, S. 369-382
ISSN: 1574-0277
The Chinese Communist Party is consolidating one party rule under the leadership of Xi Jinping. Beijing seeks to rule by central mandate while limiting local autonomy. The central government response to the COVID-19 public health emergency reinforces this view. In January 2020 Beijing established the Central Epidemic Response Leading Group to mobilise a comprehensive nationwide policy effort to contain the virus. The exceptional nature of the COVID-19 national emergency allows the central government to project power over local authorities and leverage over citizens, but we argue that this is a short-term phenomenon because local disease control initiatives remain important, with local authorities adapting national policies to meet constituent needs. There are degrees of policy discretion and divergence at the subnational level that enable context-specific responses to the virus within China's strict bureaucratic hierarchy. Primary data derives from interviews and observations in Nancun village, Hebei Province, conducted from January to April 2020. Evidence from Nancun explains how local authorities interpret the edicts and mandates of the central government.
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In: Journal of international economic law, Band 11, Heft 4, S. 899-925
ISSN: 1464-3758
In: Journal of business communication: JBC, Band 45, Heft 1, S. 3-30
ISSN: 1552-4582
In: Materials and design, Band 91, S. 331-339
ISSN: 1873-4197
This paper has two objectives: (1) to introduce a new approach to gaining widespread support for comprehensive road pricing; and (2) to develop a detailed social welfare analysis for road pricing schemes. We first describe a new approach to garnering support for system-wide road pricing, which we refer to as an investment public-private partnership, or IP3. This approach returns a significant portion of the economic value created by road pricing back to its citizen-owners. Next, we present a social welfare framework that estimates the benefits and costs of using the IP3 approach on an urban transportation network. Policy makers typically evaluate public-private partnership (P3) projects using Value for Money (VfM) analysis. However, a P3 project's impact on overall social welfare provides a more comprehensive evaluation criterion. Apart from several theoretical studies, a detailed social welfare analysis that includes all major P3 project stakeholders is lacking. Using Fresno City's transportation system as our case study, we show that system-optimal tolling scenarios favor average users, but that government¿and consequently taxpayers¿would pay for costly tolling systems. In contrast, unlimited profit-maximizing tolls raise substantial profits for government, for the infrastructure's citizen-owners, and for the private sector, but the average user is worse off. From a social welfare perspective, one should search for a Pareto-improvement under which all major stakeholders are better off. Our estimates indicate that a mixed private and public tolling scheme offers such an improvement. A mixed scheme results in the highest social welfare among all scenarios unless the weight placed on motorists' (i.e., transportation users') welfare is very low or the weight placed on residents' welfare is very high relative to the weight of other stakeholders.
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Resumen del trabajo presentado al Symposium on Surface Science (3S), celebrado en Baqueira Beret, Lleida, Spain del 6 al 12 de marzo de 2011. ; Support by the Spanish Ministerio de Ciencia e Innovación (ref. FIS2010-19609-C02-01) and Basque Government – UP/EHU (No. IT-366-07) is gratefully acknowledged. ; Peer reviewed
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© 2018 Elsevier Ltd Ecosystem services (the benefits to humans from ecosystems) are estimated globally at $125 trillion/year [1, 2]. Similar assessments at national and regional scales show how these services support our lives [3]. All valuations recognize the role of biodiversity, which continues to decrease around the world in maintaining these services [4, 5]. The giant panda epitomizes the flagship species [6]. Its unrivalled public appeal translates into support for conservation funding and policy, including a tax on foreign visitors to support its conservation [7]. The Chinese government has established a panda reserve system, which today numbers 67 reserves [8, 9]. The biodiversity of these reserves is among the highest in the temperate world [10], covering many of China's endemic species [11]. The panda is thus also an umbrella species [12]—protecting panda habitat also protects other species. Despite the benefits derived from pandas, some journalists have suggested that it would be best to let the panda go extinct. With the recent downlisting of the panda from Endangered to Vulnerable, it is clear that society's investment has started to pay off in terms of panda population recovery [13, 14]. Here, we estimate the value of ecosystem services of the panda and its reserves at between US$2.6 and US$6.9 billion/year in 2010. Protecting the panda as an umbrella species and the habitat that supports it yields roughly 10–27 times the cost of maintaining the current reserves, potentially further motivating expansion of the reserves and other investments in natural capital in China. Wei et al. estimate that the value of ecosystem services of the giant panda and its nature reserves was US$2.6–US$6.9 billion/year in 2010. Protecting the panda and its habitat yields roughly 10–27 times the cost of maintaining the current reserves, potentially motivating expansion of the reserves and other investments in natural capital in China.
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The ejecta composition is an open question in gamma-ray burst (GRB) physics . Some GRBs possess a quasi-thermal spectral component in the time-resolved spectral analysis , suggesting a hot fireball origin. Others show a featureless non-thermal spectrum known as the Band function , consistent with a synchrotron radiation origin and suggesting that the jet is Poynting-flux dominated at the central engine and probably in the emission region as well . There are also bursts showing a sub-dominant thermal component and a dominant synchrotron component , suggesting a probable hybrid jet composition . Here, we report an extraordinarily bright GRB 160625B, simultaneously observed in gamma-ray and optical wavelengths, whose prompt emission consists of three isolated episodes separated by long quiescent intervals, with the durations of each sub-burst being approximately 0.8 s, 35 s and 212 s, respectively. Its high brightness (with isotropic peak luminosity L ≈ 4 × 10 erg s) allows us to conduct detailed time-resolved spectral analysis in each episode, from precursor to main burst and to extended emission. The spectral properties of the first two sub-bursts are distinctly different, allowing us to observe the transition from thermal to non-thermal radiation between well-separated emission episodes within a single GRB. Such a transition is a clear indication of the change of jet composition from a fireball to a Poynting-flux-dominated jet. ; B.-B.Z. thanks Y.-Z. Fan, Y.-Z. Wang, H. Wang, K. D. Alexander and D. Lazzati for helpful discussions. We are grateful to K. Hurley, I. Mitrofanov, A. Sanin, M. Litvak and W. Boynton for the use of Mars Odyssey data in the triangulation. We acknowledge the use of the public data from the Swift and Fermi data archives. B.-B. Z. and A.J. C.-T. acknowledge support from the Spanish Ministry Projects AYA2012-39727-C03-01 and AYA2015-71718-R. Part of this work made use of B.-B.Z.'s personal Interactive Data Language (IDL) code library ZBBIDL and personal Python library ZBBPY. The computation resources used in this work are owned by Scientist Support LLC. B.Z. acknowledges NASA NNX14AF85G and NNX15AK85G for support. Z. G. D. acknowledges the National Natural Science Foundation of China(NSFC) (grant 11573014). Y.-D. H. acknowledges support by China Scholarships Council (grant 201406660015). Mini-MegaTORTORA belongs to Kazan Federal University, and the work is performed according to the Russian Government Program of Competitive Growth of Kazan Federal University. A. P., E.M., P. M. and A.V. are grateful to the Russian Foundation for Basic Research (grant 17-02-01388) for partial support. A. P. and S.B.P. acknowledge joint BRICS (Brazil, Russia, India, China and South Africa) grant RFBR 17-52-80139 and 388-ProFChEAP for partial support. R. I. is grateful to grant RUSTAVELI FR/379/6300/ 14 for partial support. Observations on Mini-MegaTORTORA are supported by the Russian Science Foundation (grant 14-50-00043). A.V.F. and A. M. thank the Russian Science Foundation (grant 14-50-00043). L.M. and A.F.Z. acknowledge support from INTA-CEDEA ESAt personnel hosting the Pi of the Sky facility at the BOOTES-1 station. H. G. and X.-Y.W. acknowledge NSFC (grants 11603003 and 11625312, respectively). Z. G. D., X.-F. W., B.Z., X.-Y. W.,L.S. and F.-W.Z. are also supported by the 973 program (grant 2014CB845800). F.-W.Z. is also supported in part by the NSFC (grants U1331101 and 11163003), the Guangxi Natural Science Foundation (grant 2013GXNSFAA019002) and the project of outstanding young teachers' training in higher education institutions of Guangxi. L.S. acknowledges support by the NSFC (grant 11103083) and the Joint NSFC-ISF Research Program (grant 11361140349). S.O. acknowledges the support of the Leverhulme Trust. S.J. acknowledges support from Korea Basic Science Research Program through NRF-2014R1A6A3A03057484 and NRF-2015R1D1A4A01020961, and I. H. P. through NRF-2015R1A2A1A01006870 and NRF-2015R1A2A1A15055344. R. A., D. F. and D. S. acknowledge support from RSF (grant 17-12-01378). A. K. acknowledges the Science and Education Ministry of Kazakhstan (grant 0075/GF4).
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Background: The COVID-19 pandemic has disrupted routine hospital services globally. This study estimated the total number of adult elective operations that would be cancelled worldwide during the 12 weeks of peak disruption due to COVID-19. Methods: A global expert response study was conducted to elicit projections for the proportion of elective surgery that would be cancelled or postponed during the 12 weeks of peak disruption. A Bayesian β-regression model was used to estimate 12-week cancellation rates for 190 countries. Elective surgical case-mix data, stratified by specialty and indication (surgery for cancer versus benign disease), were determined. This case mix was applied to country-level surgical volumes. The 12-week cancellation rates were then applied to these figures to calculate the total number of cancelled operations. Results: The best estimate was that 28 404 603 operations would be cancelled or postponed during the peak 12 weeks of disruption due to COVID-19 (2 367 050 operations per week). Most would be operations for benign disease (90·2 per cent, 25 638 922 of 28 404 603). The overall 12-week cancellation rate would be 72·3 per cent. Globally, 81·7 per cent of operations for benign conditions (25 638 922 of 31 378 062), 37·7 per cent of cancer operations (2 324 070 of 6 162 311) and 25·4 per cent of elective caesarean sections (441 611 of 1 735 483) would be cancelled or postponed. If countries increased their normal surgical volume by 20 per cent after the pandemic, it would take a median of 45 weeks to clear the backlog of operations resulting from COVID-19 disruption. Conclusion: A very large number of operations will be cancelled or postponed owing to disruption caused by COVID-19. Governments should mitigate against this major burden on patients by developing recovery plans and implementing strategies to restore surgical activity safely.
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