Archive for June, 2016

Policy Alert: After Brexit – Rising Powers React to Surprise British Vote to Leave EU

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On June 23, the United Kingdom voted in favor of a referendum for the country to leave the European Union (EU). The 52-48 split vote in support of “Leave” panicked global financial markets and prompted a wave of largely negative reactions from world leaders who had previously urged British voters to “Remain.” Once the British Parliament ratifies the referendum, the country would exit the EU in two years. With U.K. Prime Minister David Cameron resigning in October after leading the effort to stay in the EU, the world watches how these events unfold and whether others, including Scotland and Northern Ireland, now pursue their own independence from Britain.

In this Policy Alert, we examine commentary from India, China, Japan, South Korea, and Russia (who reveled in the vote’s outcome) examining what the vote means for the future of Britain and the EU.

INDIA

Given the historical linkages between India and the United Kingdom, the “Brexit” – or British Exit – referendum vote was closely followed by leaders in New Delhi and the Indian public. There are 800 Indian companies across multiple sectors like pharmaceuticals, financial services, and IT operating in the U.K. and employing over a million people. (more…)

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Policy Alert: Rousseff Under Siege – Rising Powers Debate Brazil’s Future

dilmaBrazil’s Senate voted earlier this month to suspend President Dilma Rousseff while she awaits a trial to determine if corruption charges will result in her impeachment. Rousseff called the move a “coup” and vowed to fight the charges. Interim President Michel Temer now has to weather this political turmoil amid the on-going Zika virus outbreak, an economic recession, and preparations for the Summer Olympics just months away. In this Policy Alert, we examine commentary from Brazil, India, China, Russia, and Japan on the South America powerhouse’s future.

BRAZIL

On May 12, the Brazilian Senate voted 55-22 in favor of trying President Dilma Rousseff for impeachment for using accounting tricks to improve the 2014 budget outlook (pedaladas, in Portuguese) in violation of budgetary laws. This followed a 367-137 vote in the Chamber of Deputies on April 17. As a result, Rousseff is suspended from office for 180 days while she is tried in the Senate. An interim government will take her place either until she returns to office in the unlikely event she is not convicted in the Senate, or until the end of her term in 2018.

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