Economic Exchange Research Articles

Building a Community of Shared Future through ESG Financial pathway: Fostering Green Development and Global Cooperation

The world is facing unprecedented challenges. Extreme weather events such as high temperatures,severe cold,and heavy rains are becoming more frequent and violent. The resulting natural disasters,such as droughts, floods, and wildfires, seriously threaten the ecosystem and human safety. Melting glaciers, rising sea levels, resurgence of ancient viruses, and disruption of the natural food chain will plunge the entire earth into an unprecedented crisis. The Chinese government proposed cooperation initiative to build the"the Silk Road Economic Belt and the 21st-Century Maritime Silk Road" respectively to jointly create a destiny for mankind that benefits political mutual trust, economic integration, cultural inclusion, community. In the context of "the Belt and Road initiative", building a community with a shared future for mankind through green development and cooperation with the help of ESG (environment, society and governance) is currently an important issue for the sustainable development of the entire region. The initiative aims to promote economic cooperation and exchanges among countries along the route and promote common prosperity and development. With the help of ESG concepts and practices, a framework for green development cooperation can be built for countries along the "the Belt and Road initiative" to achieve sustainable development goals. The research team recently conducted extensive research in Europe and gained two outstanding insights. First, although Europe does not have a complete industrial system,it has its own characteristics in the implementation and promotion of ESG models.The most important reason is that they attach great importance to the ESG concept , it has advantages in terms of corporate strategy, technology and financial management scale. Second, as a developing country, China has the most stable policy system and the most complete industrial system. These two points of view have important implications for thinking about building a community with a shared future for mankind through green development and cooperation through ESG paths in the context of "the Belt and Road initiative".

Camelus knoblochi genome reveals the complex evolutionary history of Old World camels

Extant Old World camels (genus Camelus) contributed to the economic and cultural exchanges between the East and West for thousands of years.1,2 Although many remains have been unearthed,3,4,5 we know neither whether the prevalent hybridization observed between extant Camelus species2,6,7 also occurred between extinct lineages and the ancestors of extant Camelus species nor why some populations became extinct while others survived. To investigate these questions, we generated paleogenomic and stable isotope data from an extinct two-humped camel species, Camelus knoblochi. We find that in the mitochondrial phylogeny, all C.knoblochi form a paraphyletic group that nests within the diversity of modern, wild two-humped camels (Camelus ferus). In contrast, they are clearly distinguished from both wild and domesticated (Camelus bactrianus) two-humped camels on the nuclear level. Moreover, the divergence pattern of the three camel species approximates a trifurcation, because the most common topology is only slightly more frequent than the two other possible topologies. This mito-nuclear phylogenetic discordance likely arose due to interspecific gene flow between all three species, suggesting that interspecific hybridization is not exclusive to modern camels but a recurrent phenomenon throughout the evolutionary history of the genus Camelus. These results suggest that the genomic complexity of Old World camels' evolutionary history is underestimated when considering data from only modern species. Finally, we find that C.knoblochi populations began declining prior to the last glacial maximum and, by integrating palaeoecological evidence and stable isotope data, suggest that this was likely due to failure to adapt to a changing environment.

A Study of the Heterogeneous Application of China-Based Teaching Methods in International Trade and Business Law Courses

For China's teaching methods in international trade and business law courses, the audience's professional knowledge system framework, China's teaching methods in international trade and business law courses in the heterogeneity of the application of the basis lies in the professional way of thinking differences. Since the reform and opening up, the domestic trade has been closely integrated with the development of China's economy and the need for foreign trade activities, China wants to develop trade and strengthen economic exchanges with countries around the world, should understand and comply with the international commercial law and international trade practices, prior to the negotiation of the contract should strive to be detailed and clear, specific and complete, and should be strictly abide by the terms and conditions of the process, and should not be all to our own, since a set of, and thus causing many problems and losses and affecting the credibility of the country. Many problems and losses and affect the credibility of the country. This is particularly important for students of international trade and business law, the importance of international trade and business law programme. As for the teaching methods in China, there are two kinds of teaching methods in international trade and business law: the heterogeneous application of direct teaching method is reflected in the differentiated explanation of the basic concepts and principles of international trade and business law, while the heterogeneous application of case teaching method is shown in the differentiation of the case selection and implementation process. For the above two methods, the author proposes other teaching methods for reference.

Examining the Influence of the Belt and Road Initiative on Jiangsu’s Outward Foreign Direct Investment: Trends, Drivers and Challenges

The proposal of “One Belt, One Road” has led to friendly political and economic cooperation between China and the countries along the route, and the “One Belt, One Road” strategy has had a great impact on the outward foreign direct investment of China and the countries along the route. In the process of promoting the strategy, China has realized friendly economic exchanges and exchanges of talents and technologies with various countries and regions. This paper analyzes the OFDI data of Jiangsu Province in the past ten years to study the impact of the “Belt and Road” initiative on OFDI in Jiangsu Province. At the same time, through the analysis of the causes of OFDI and the current situation of OFDI in Jiangsu Province, this paper finds that the “Belt and Road” Initiative has promoted OFDI in Jiangsu Province, and puts forward corresponding countermeasures and suggestions for the further development of OFDI in Jiangsu Province. It also proposes corresponding countermeasures for the further development of OFDI in Jiangsu Province. The province will make reasonable use of government policies, talent introduction and financial mechanisms to optimize its industrial layout and enhance its economic strength.

Research on coupling optimization of carbon emissions and carbon leakage in international construction projects

Due to the rapid economic development of globalization and the intensification of economic and trade exchanges, cross-international and regional carbon emissions have become increasingly severe. Governments worldwide establish laws and regulations to protect their countries' environmental impact. Therefore, selecting robustness evaluation models and metrics is an urgent research topic. This article proves the reliability and scientific of the assessment data through literature coupling evaluation, multidisciplinary coupling mathematical model and international engineering case analysis. The innovation of this project's research lies in the comprehensive analysis of the complex coupling effects of various discrete data and uncertainty indicators on the research model across international projects and how to model and evaluate interactive effects accurately. This article provides scientific measurement standards and data support for governments worldwide to formulate carbon tariffs and carbon emission policies. Case analysis data shows that the carbon emission ratio of exporting and importing countries is 0.577:100; the carbon trading quota ratio is 32.50:100.

Characterization of lamp oil residues from Tangchaodun Site, Xinjiang, northwest China during the 8th−13th centuries CE

Lamp illuminants reflect how ancient people exploited natural resources, such as animal fat, plant oil and mineral oil. Besides, the commercial trade of lamp oil, including olive oil, represented economic exchange. In addition, oil lamps were often used in religious practices to glorify deities and illuminate grand halls. Although many ancient lamps have been found in China, there are few scientific reports regarding ancient lamp illuminants. In this study, chemical analysis including FTIR (Fourier Transform Infrared Spectroscopy), Py-GC/MS (Pyrolysis Gas Chromatography-Mass Spectrometry), GC–MS (Gas Chromatography-Mass Spectrometry), and GC-C-IRMS (Gas Chromatography-Combustion-Isotope Ratio Mass Spectrometry) was applied to characterize black residues remaining on the surface of pottery lamps from the Tangchaodun site, northwest China, from the 8th to 13th centuries CE. The results show that the black residues are soot, and both ruminant adipose fat and plant oil were used as the primary fuel. These lamps share similar morphology and utilize similar combustibles, implying that the production of both lamps and oil may have undergone convergent evolution driven by aesthetic preferences. Furthermore, the ruminant animals mainly fed on C4 plants, indicating that these animals were raised in pens and millet agriculture was practiced in this region.

The stuff of currency: Changing styles and uses of ear ornaments at Tikal

Abstract This article revisits ear ornament data from Tikal—both material and visual—to better understand the varied roles of ear ornamentation in ancient Maya society over time. The author discusses relevant terms and terminology, then emphasizes the social aspects of ear piercing and stretching as well as the place of ear ornaments in economic exchange. Ear ornamentation was a critical aspect of socialization for ancestral Mayas, but the extent of this practice was classed. Whereas the styles of nonelite ear ornaments were more resistant to change over time, the jade earflares of elites became more standardized in form while growing in complexity. With this standardization, jade earflares achieved a status close to currency, not just to be coveted or collected but also to be displayed on the body to the fullest extent possible. However, like many currencies, jade earflares were more complex than simple tokens of exchange. The symbolic dimensions that gave these objects meaning and economic value were integral to their power.

The impact of fiscal shocks on economic growth and income inequality in Ghana: is there a trade-off?

PurposeThe study examines the impact of fiscal policy shocks on economic growth and income inequality in Ghana. This has become necessary because of the interdependence between growth and income inequality and the role fiscal policy plays in this relationship in the development process of a country. Thus, a study that investigates how government expenditure shock and tax revenue shock influence the relationship between economic growth and income inequality could assist policymakers to adopt the best policy mix to ensure income equity and sustained economic growth in Ghana.Design/methodology/approachIt employs sacrifice ratio from structural VAR model using quarterly time series data from 1996 to 2019 on Ghana.FindingsOur results show that government expenditure shock impacts economic growth, exchange rate and education positively and significantly in the long run. Also, tax revenue shock has a positive impact on income inequality, economic growth and education. The findings further show that there exists a trade-off between economic growth and income inequality in the long run.Originality/valueThe relationships between fiscal policy shocks, economic growth and income inequality have been extensively discussed among scholars. Understanding how these three macroeconomic variables are determined and their interrelationships are crucial for policymakers. This is because fiscal policy aids in both economic growth and income inequality. In the empirical literature, the emphasis has been on independently estimating the growth effects of fiscal policy or the distribution effects of fiscal policy, leaving out the existence of possible trade-off between economic growth and income inequality following a fiscal shock. To the best of our knowledge, no empirical study has been done on Ghana to empirically examine the trade-off between economic growth and income inequality as we do in this paper.

Orchestration of Markets and Bureaucratic Knowledge Production in the Moscow Transportation Reform

This article examines the role of bureaucracy in the process of reforming Moscow’s transportation system. With reliance on the intellectual history of neoliberalism, the concept of “orchestration,” an institutionalist economics, and an empirical case study, I argue that a market embodies itself in the form of bureaucracy. The agency in the provision of norms and regulations, calculations and forecasts, orders of economic exchange, and knowledge production concentrates in the hands of bureaucrats regardless of their formal attachment to state or private entities. Bureaucrats define fundamental issues of how markets should function; they design and control the system of money redistribution. The case of dismantling Moscow’s trolleybus system provides fruitful data on the agency of bureaucracy in transportation reform under the label of implementing “best practice” scenarios favourable to a neoliberal toolkit.

ANALISIS PENGARUH VARIABEL MAKROEKONOMI TERHADAP JAKARTA ISLAMIC INDEX (JII) (PERIODE 2011-2022)

This research aims to analyze the influence of macroeconomic variables on the movement of the Jakarta Islamic Index (JII) during the period 2011-2022. The considered macroeconomic variables encompass economic growth, inflation, interest rates, exchange rates, and the Composite Stock Price Index (IHSG). The analytical method employed is regression analysis, complemented by classical assumption tests. The research findings indicate that inflation, interest rates, and IHSG significantly influence the movement of JII, while economic growth and exchange rates do not exhibit significant effects. The implications of these findings underscore the importance of considering macroeconomic factors in making investment decisions within the Sharia-compliant capital market, particularly concerning JII. However, it is essential to acknowledge certain limitations in this study, such as data constraints and generalization limitations. Therefore, the results should be interpreted cautiously, taking into account other potential factors that may impact the movement of JII.

Research on the Reform and Development of International Commercial Arbitration in China

International commercial arbitration is the preferred way to resolve cross-border commercial disputes. Facing new situations and challenges, the government should strengthen the training of international commercial arbitration talents, actively participate in international arbitration rule-making, promote the integration of modern technology with commercial arbitration, improve the laws and regulations on international commercial arbitration, and enhance the publicity to raise the awareness of arbitration. Hence, this can establish a sound international commercial arbitration system in line with China’s national conditions and international standards to further optimize the business environment in China and better promote international economic and trade exchanges.

Transboundary water resource management and sustainable development in the lancang-mekong river basin: an analysis of international water law

ABSTRACT The Lancang-Mekong River Basin stands as one of the most critical and complex transboundary basins globally, where the utilization and protection of water resources are paramount. This basin, linking China, Myanmar, Laos, Cambodia, Thailand, and Vietnam, is characterized by a dense population and rapid industrial and agricultural development, fostering frequent economic and cultural exchanges. Cooperative efforts in water resource utilization and protection among these countries lead to issues such as resource disputes, environmental pollution, and collaboration barriers. Since the six basin countries have not jointly joined any international convention on water resources development or protection, disputes have been resolved and cooperation promoted through existing inter-state cooperation mechanisms for many years. However, these mechanisms often fall short due to the lack of common guiding principles. Achieving sustainable water resource development in the Lancang-Mekong River Basin aligns with the national interests of the six countries. The basin states can establish a transboundary Environmental Impact Assessment system and a dispute settlement mechanism. Constructing a comprehensive Integrated Water Resource Management Cooperation Mechanism, rooted in the fundamental principles of international water law, is crucial for enhancing the level of international cooperation within the basin.

Time, ties, transactions: temporality and relational work in economic exchange

This paper explores the intersection of time and relational economic sociology. Building on Viviana Zelizer’s relational framework, I argue that analyzing the temporal dimensions of exchange provides insight into how social ties gain meaning through economic practices. The paper shows time’s dual role as both an organizing structure bounding action, and a dynamic element that actors leverage to shape transactional contexts. As structure, time offers culturally-available templates like schedules and rhythms that facilitate coordination and signify predictable social meanings befitting particular relational categories. Yet time also constitutes relational work itself; strategic timing, duration, pacing, and sequencing of interactions signal context, manage expectations, and sustain bonds amidst entanglements. Synchronization through temporal agency prevents mismatches between transactions and social contexts that could strain ties. This agency in time ranges from passive adherence to dominant structures to active assertions of power resistance, enabling both domination and defiance across economic contexts. Analyzing shared temporal infrastructure within circuits of commerce further illuminates how actors distinguish those spheres of exchange at various scale from the impersonal market. Ultimately, incorporating temporality strengthens relational economic sociology by identifying a key mechanism through which practices of exchange become relationally meaningful.

New Thoughts and Prospects on the Role of City Diplomacy in China-Korea Relations under the Unprecedented Changes of the Past Century

Today's world is accelerating in the unprecedented changes of the century, China's emergence in the field of science and technology, the United States to Japan and South Korea to set up a chip alliance to limit China's scientific and technological development, which is a layer of complex geopolitical relations of the Northeast Asian region of the country's diplomatic outlook fog. China and South Korea, the two countries have a long history of interaction, especially since the establishment of diplomatic relations between the two countries rapid development of economic and trade exchanges, to the development of the two countries have brought significant benefits. With the evolution of the world pattern, especially the two major powers of China and the United States in the Asia-Pacific region of the strategic game, South Korea is faced with the dilemma of choosing sides, to the interaction between China and South Korea has brought great instability, to the humanities exchanges, economic and trade exchanges between the two countries also caused great inconvenience, affecting the two countries of the political, economic and diplomatic relations interaction. In the face of many dilemmas, the role of city diplomacy has become an effective way to maintain and promote normal exchanges between China and South Korea, and city diplomacy will make great contributions to the stability of China-South Korea relations.

RMB Internationalization: Exploring Trends and Implications

The aim of this paper is to provide a comprehensive analysis of the historical evolution of the internationalisation process of the RMB and to assess its current status in the global economy. At the same time, in light of the evolution of the current international monetary system, especially the key stages of the gold standard, the Bretton Woods system and the Jamaican system, it provides an in-depth exploration of the challenges of the times, such as exchange rate stabilisation and de-dollarisation, faced by the internationalisation of the RMB. The article focuses on the ten milestones of RMB internationalisation, detailing the collaborative efforts and achievements of East Asian economic powers such as ASEAN, China, Japan, and South Korea in promoting the internationalisation of the RMB. These achievements reflect the positive response to external economic developments and highlight the growing importance of the RMB in the international monetary system. The article analyses the positive role of the Belt and Road Initiative in promoting the internationalisation of the RMB. It has facilitated international economic exchanges and cooperation by simplifying the financing process. The article also provides an in-depth analysis of the many factors affecting RMB depreciation, such as trade wars. It reveals the wide-ranging impacts of these factors on various sectors, especially Chinese exporters. Based on this, the article emphasises the significance of preserving the stability of the RMB exchange rate as a crucial factor to be fully considered while advancing the internationalisation of the RMB. Lastly, the article proposes several constructive suggestions to further promote the internationalisation of the RMB, which offer valuable references for the future development of the international monetary system.

Modelling System Generation: Towards the New Model in Albania and SEE Countries

The electricity utility industry is undergoing rapid and irreversible changes resulting from volatile fuel costs, transmission access, less predictable load growth and a more complex regulatory environment. Due to the rising importance of renewable (and variable) energy sources, power systems are now more vulnerable to uncertainties and intermittent in supply. Hydropower plays an important role in the energy mix and power market, helping in providing base and peak load power as well as being the ‘fuel’ (water) not subject to fluctuations in the market; these paving the way toward a clean energy by 2030 and net-zero emissions by 2050 as part of de-carbonization agenda. All production and conversion processes in the energy sector require Water for nearly including fuel extraction and processing (fossil and nuclear fuels as well as biofuels) and electricity generation (thermoelectric, hydropower, and renewable technologies). This paper’s objective is to analyze cross-border trade in SEE through economic electricity exchange, while also exploring reasons for promoting Hydroelectricity. This is achieved through the following objectives: first, an overview is made of the available energy and economic data in the region; second, a model is developed for regional least cost expansion planning when allowing for cross-border trade. These aim to assess electricity supply and demand in the region with the purpose of making a comparative analysis regarding energy resource endowments.

Economic Fundamentals and Real Exchange Rate in African Oil Producing Countries: Evidence from Asymmetric Cointegration

The role of exchange rates is very important in the international market and the variability of exchange rates both in the case of appreciation or depreciation is directly connected with the economic performance of a country. Exchange rate variations in oil-producing countries in Africa have been too high resulting in volatilities due to domestic and foreign shocks. High volatility of exchange rate may translate into reduction of trade flows, foreign direct investment, and instability in both interest rates and inflation rates. Several studies on the relationship between economic fundamentals and exchange rates focused more on Africa or country-specific with limited focus on African oil-producing countries using asymmetric cointegration. Therefore, this study examines the relationship between some economic fundamentals and real exchange rates in oil-producing countries in Africa. The dynamics panel non-linear autoregressive distributed lag and linear autoregressive distributed lag were used to investigate the relationship between economic fundamentals and real exchange rate (RER). The NARDL result shows evidence that there exists both short and long-run asymmetric relationship between economic fundamentals and RER. The study recommended that policymakers in these countries pay more attention to their macroeconomic policies to reduce the production and transaction costs of foreign direct investment (FDI).

Influence and Norm Entrepreneurship: Azerbaijan’s Strategic Deployment of Soft Power

In this article, it is mentioned that Azerbaijan’s strategic deployment of soft power across a variety of realms, including economic and public diplomacy, educational initiatives, and humanitarian leadership, is examined. It is clearly understood from this text that Azerbaijan is actively shaping global conversations and ideals, earning it the reputation of being a norm entrepreneur. Situated at the crossroads of cultural, economic, and political trends, the significance of leveraging its considerable energy resources and economic alliances to bolster its international standing is recognized by Azerbaijan. This analysis explores Azerbaijan as a norm entrepreneur and reveals its ability to respond quickly in crisis situations and global cooperation. At the same time, the article analyzes the priority issues that Azerbaijan has set before itself since the 1990s - issues such as the liberation of its lands from occupation, bringing these situations to the attention of the international community, and preventing all kinds of provocations, and the indispensable role of cultural and public diplomacy in this sense are analyzed. While highlighting the country’s commitment to global solidarity, the challenges posed by the Nagorno-Karabakh conflict, and the delicate balance required when using energy resources for political leverage are critically examined in the article. A considerable effort towards resolving the intricate connection between economic power and infrastructural improvements is made. Through ambitious projects like the Baku International Sea Trade Port and the Baku-Tbilisi-Kars railway, not only is Azerbaijan’s economic prowess enhanced but also its significance in ensuring energy stability in Europe is solidified. More than that, this fact is about widening economic exchanges, the importance of a single market, and enhancing Azerbaijan’s soft power through more cooperation.

Analysis of the Effect of Inflation, Gross Domestic Product (GDP), Foreign Currency Exchange Rates and Interest Rates on the Profitability of Sharia Commercial Banks in Indonesia (Case Study of Bank Muamalat for the 2007-2023 Period)

This research aims to analyze the influence of Inflation, Gross Domestic Product, Exchange Rates and Interest Rates on the profitability of Islamic banking, especially Bank Muamalat. This research uses descriptive quantitative methods. The data in this research is secondary time series data published by the Central Statistics Agency (BPS), Bank Indonesia (BI), Financial Services Authority (OJK). The data analysis technique uses multiple linear regression analysis which has previously been tested with classical assumptions. The results of multiple linear regression include that inflation and exchange rates have a significant effect on RoA, GDP and interest rates do not have a significant effect on RoA and inflation, economic growth, exchange rates and interest rates have a significant effect on Return on Assets of Bank Muamalat for the 2007-2023 period.

People Reject Free Money and Cheap Deals Because They Infer Phantom Costs.

If money is good, then shouldn't more money always be better? Perhaps not. Traditional economic theories suggest that money is an ever-increasing incentivizer. If someone will accept a job for US$20/hr, they should be more likely to accept the same job for US$30/hr and especially for US$250/hr. However, 10 preregistered, high-powered studies (N = 4,205, in the United States and Iran) reveal how increasing incentives can backfire. Overly generous offers lead people to infer "phantom costs" that make them less likely to accept high job wages, cheap plane fares, and free money. We present a theory for understanding when and why people imagine these hidden drawbacks and show how phantom costs drive judgments, impact behavior, and intersect with individual differences. Phantom costs change how we should think about "economic rationality." Economic exchanges are not merely about money, but instead are social interactions between people trying to perceive (and deceive) each others' minds.