The geopolitics of China in Chile鈥檚 lithium strategy and the trouble with critical minerals

the Chilean government confirmed a report published earlier that morning: Chinese companies BYD and Yongqing Technology (Tsingshan Group) had abandoned their planned lithium cathode production facilities in Chile. This announcement dealt a significant blow to the ambitions of a country with a longstanding mining tradition, now striving to build industrial capabilities and develop value-added products from its mineral resources amid the global energy transition. However, just one day later, the Chinese embassy in Chile both the initial report and the Chilean government’s confirmation. After consultations with both companies, the embassy clarified that neither had officially withdrawn their investment plans. Instead, they reaffirmed ongoing interest in maintaining dialogue with Chilean authorities. The embassy further emphasized Chile’s continuing attractiveness to Chinese businesses, highlighting the numerous firms eager to participate in the country鈥檚 National Lithium Strategy. the Chinese embassy鈥檚 statement鈥攊ssued amidst escalating trade tensions and shifts in the international order鈥攕uggests this chapter is far from concluded.

This episode highlights the complexity and uncertainty confronting peripheral economies attempting to industrialize by leveraging their comparative advantages amidst the so-called energy transition and broader geopolitical tensions marked by trade wars. While significant global attention remains focused on the socio-environmental impacts of critical mineral extraction, less consideration has been given to examining how peripheral economies鈥攃ountries heavily reliant on natural resource extraction鈥攁re strategically navigating or capitalizing on this 鈥渃ritical minerals moment鈥 in relation to their own ambitions to industrialize.

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More than 100 Years of Ambedkar鈥檚 The Problem of the Rupee: Insights, ideas and intellectual rigour still awaiting discovery

It has been more than a century since Ambedkar鈥檚 second disquisition in the discipline of economics was published; The problem of the rupee: its origin and its solution was published in the year 1923. Ambedkar was awarded a Doctor of Science (D. Sc) upon completion of the aforementioned dissertation from the London School of Economics. Later, during the same year, it was published as a book (Jadhav 2015, p. 39).

This essay is fundamentally a tribute to The problem of the rupee; it aims to serve as a primer by discussing the theoretical gravitas and intellectual depth that Ambedkar鈥檚 second disquisition entails. While it is well-recognized that Ambedkar was trained in economics鈥攈olding two doctoral degrees[1]鈥攁nd made significant contributions to law and politics, this essay sheds light upon a few interactions with different economists and economic conditions that Ambedkar鈥檚The problem of the rupee engages with and subsequently invites for more extensive and nuanced engagement with the monograph.

Earlier, there have been multiple scholarly contributions that engaged with The problem of the rupee. However, they present only the overarching arguments i.e., the arguments are void of the details that explain the intellectual brilliance that is present in Ambedkar (1923). For instance, Jadhav claims that, after evaluating the Indian monetary system and operations, Ambedkar was in favour of a gold-standard rather than a gold-exchange standard (1991, p. 980). In a rudimentary sense, what gold standard and a gold-exchange standard mean is that the former indicates a monetary practice where gold is the direct form of currency that would be available for circulation. On the other hand, the latter i.e., the gold exchange standard is a condition where gold would not be a medium of exchange, but another form of currency would be the medium of exchange as gold would be held for reserve exchanges.

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The economist who exposed the hypocrisy of the free market

The economist Alice Amsden鈥檚 work unmasked the dirty secret underlying capitalist development: it relied on states breaking all the rules of the free market. But her work also showed that industrialization required corporate discipline, not welfare.

For American defenders of economic liberalism and free markets, China鈥檚 rise has been deeply disorientating. Unmoved by concerns about the market distorting effects of picking winners, the Communist Party of China has engaged in a focused campaign of industrial policy, using the state to discipline firms that have gone on to become globally competitive.

For the economist Alice Amsden, who came to prominence in the late 1980s for her writing on global development and died in 2012, the success of China would not have come as a surprise. Amsden began her career as powerful development institutions such as the World Bank were touting deregulation and privatization as solutions to global poverty. But the experience of the postwar years, in which South Korea 鈥 a recurring object of study for Amsden 鈥 used industrial policy to drag itself into middle income status, was a refutation of the orthodoxies rehearsed at Davos and in the International Monetary Fund.

The embrace of state subsidies to firms, tariffs, and large-scale infrastructure spending under Joe Biden and Donald Trump鈥檚 presidencies is partly a concession to the kind of developmentalist thinking advocated by Amsden. However, Amsden, a fellow traveler, if not devotee, to Marxism offered a more ambivalent assessment of the records of late industrializing nations like South Korea and China than defenders of Biden/Trumponomics are perhaps willing to countenance. For her, the repression of labor was as important to the success of these nations as large-scale economic coordination.

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Rethinking Economic Development from the Household: Property, Resilience, and Institutional Adaptation in Rural China

What if the story of economic development doesn鈥檛 begin with the market, but with the household? And what if property, often assumed to be a static bundle of rights, is better understood as a dynamic institution鈥攁daptive, historically layered, and relational?

These questions sit at the heart of my recent research, which I had the opportunity to present at the Open University鈥檚 legal histories conference Land and Property Beyond the Centenary. While my work focuses on property governance and transformation in rural China, its implications stretch far beyond. It challenges dominant liberal narratives about property and development by presenting institutional change as a process of negotiated adaptation shaped by vulnerability and crisis, rather than a linear path towards free markets and individual ownership.

At its core, this work brings into dialogue three theoretical frameworks that are rarely combined: resilience theory, Martha Fineman鈥檚 vulnerability jurisprudence, and evolutionary institutional economics inspired by Thorstein Veblen. Together, they offer a rich toolkit for reimagining how development happens鈥攁nd for whom.

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C. T. Kurien and Rethinking Economics

Born in 1931, C. T. Kurien contributed to rethinking economics through his various writings, particularly books and his vision for a practical B.A degree in Economics at Madras Christian College (MCC), an autonomous college situated in Chennai, a port city in Southern India. Besides MCC, another institution he contributed to was Madras Institute of Development Studies (MIDS), a research-only institute, also in Chennai. Kurien passed away in July 2024 aged 93.

This blog post provides a brief introduction to Kurien鈥檚 life and economics.

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The Ideal Amount of Work and Leisure

Narayana Murthy, the founder of Infosys, has attracted significant attention for his in which he advises Indian youth to work 70 hours a week to contribute to the nation鈥檚 growth. Mr. Murthy,  who also happens to be the father-in-law of the UK鈥檚 Prime Minister Rishi Sunak, supports his advice by drawing parallels to the post-war recoveries of Germany and Japan. He suggests that Indian corporate leaders should similarly consider increasing employees鈥 working hours to enhance productivity

In my view, Mr. Murthy鈥檚 advice is ignorant and misinformed at best, or highly malicious at worst. In either case, it is profoundly misguided. In this blog, we will critically assess his statement, examining both its intent and factual accuracy. This discussion will also lead to broader reflections on the themes of work and leisure

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An acknowledgement of women鈥檚 work in economics – hits, misses, and a long road ahead

By and Surbhi Kesar

The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2023 was awarded to Claudia Goldin, professor of economics at Harvard University, for 鈥渉aving advanced our understanding of women鈥檚 labour market outcomes鈥. Goldin is now one of three women who have been awarded the prize, and, more importantly, this is the first time that the prize recognises research that makes a fundamental distinction between economic outcomes of men and women. Her work makes significant contributions to both the empirical and theoretical aspects of the theme, particularly in the context of the US.

Empirically, she applied innovative ways to unearth data for women鈥檚 labour market outcomes in the US at a time when the labour force surveys only collected this information for men. This allowed her to uncover the long-term trend of economic outcomes for women. Her work revealed that there was no linear relationship between economic growth and development and the women鈥檚 labour force participation. Instead, bringing together cross-country evidence and historical data, she empirically established a U-shaped relationship between women鈥檚 employment and economic growth. This implies that at low levels of economic growth, larger share of women tend to participate in the labour market, largely in agriculture. However, with economic growth and a sectoral shift away from agriculture, women鈥檚 participation faltered. Goldin argued that the 鈥渋ncome effect鈥 — the rise in household incomes alongside economic growth along with the increasing use of technology in agricultural activities — may explain women鈥檚 initial withdrawal from employment. However, beyond a certain level of economic growth, women鈥檚 participation rose as their education levels increased and as more white-collar emerged by replacing the factory jobs that are often stigmatised for women.

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The South Asia to Gulf Migration Governance Complex 鈥 Edited by Crystal A. Ennis and Nicolas Blarel: Review

Migration Governance: Moving Away from 鈥淯ncle Always Knows鈥

Almost everyone on social media has that one Instagram friend who posts bronzed pictures in Santorini, or screenshots of champagne flutes atop the Burj Khalifa, the Dubai skyline looming in the background.  To those internationals for whom travelling on holiday was an annual rite of passage, the pandemic鈥檚 travel restrictions resulted in adventures that were inopportunely thwarted. Conversely, to economic migrants everywhere, the implications of banned travel, whether by air, train, or foot, equated directly with the fundamental ability to survive. The scrambles of governments worldwide to gauge appropriate responses to COVID-19 was understandable, inasmuch the magnitude of the event was entirely unprecedented, and the need to contain its spread dire. Yet, one of the largest follies of the pandemic remains undebated: instinctive government responses moved to ban travel without duly considering the global interconnectedness of labour markets in the modern age. Belonging to one state but working in another meant that with travel bans, economic migrants were either shackled to their workplaces, away from their families; or held back from gainful employment whilst trapped at home. In most contexts, migrants are to countries like an unknown opening band at a music concert: the audience does not fundamentally care, and everybody is simply waiting for the headline act. In their origin states, migrant workers often escape the focus of governments who are more concerned with those who remain behind. In the meanwhile, the countries to which they migrate often look at them as charity, despite these workers鈥 crucial role in economic development. Since they belong to places differently, being of and from multiple geographies at once, migrant workers have shifted typical state-worker relationships to a new realm. What, therefore, does good governance look like for an individual- a migrant– who is from several places at once?

Multiple answers to this question can be gleaned from . As the title suggests, the volume focuses on the South Asia-Gulf migration nexus. There are various considerations that render this book highly topical. First, the movement of people around the world, particularly for employment, has outmoded traditional conceptions of citizenship and a worker鈥檚 relationship with a state. This necessitates the re-engineering of these traditional conceptions of citizenship in ways that account for a dynamic and modern global workforce which is constantly on the move. Second, a fitting place to start thinking about the redefinition of worker-state relations is from the lens of workers emigrating from South Asia into the Arab Gulf. These geographies are of particular significance given the staggering volume of South Asian emigrants in the Arab Gulf, with over 80 percent of the region鈥檚 labour force being comprised of migrants, as Blarel and Ennis describe in their introduction. Governing this sizeable migrant workforce is what is collectively termed Kafala, a complex set of legal and policy frameworks centred around an employer-oriented visa sponsorship system. For years now, the Kafala system has come under severe criticism from human rights groups for rendering low-wage migrant workers in various conditions of modern day slavery, most recently with the . Further compounding the importance of the South Asia-Gulf nexus is the phenomenon of South-South migration, where the Gulf鈥檚 ambitious development projects tend to drive largescale demands for a workforce that can be tailored to expand and contract as per their whimsy (Ennis and Blarel; Hamadah; Walton-Roberts et al). Above all, this volume is timely given the now universal tussle between the need for good governance and sustainable worker livelihoods on the one hand, versus competing pressures for labour market flexibility on the other (Devkota; Babar; Hamadah).

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