Financial Inclusion or Subordination? The Monetary Politics of Debt in Cambodia

Financial inclusion is a leading driver of household debt across the global South. Although critical geographers have analysed this debt through the lens of financialisation, few have examined it in terms of monetary politics. This is a salient issue, because poorer nations often have limited control over their monetary policy due to their dependence on foreign currencies, which can adversely affect the structure of their financial markets. Building on the concept of monetary dependency from scholarship on financial subordination, I analyse the monetary politics of debt in Cambodia. Drawing on elite interviews and ethnographic research, I argue that Cambodia's extreme monetary dependence on the US dollar has shaped monetary and fiscal policies that compel poorer households to take on private debt to pay for their basic needs. This paper advances critical geographies of debt and development by studying financial subordination and its impact on financial inclusion in the global South.     

Migration,knowledge production and the humanitarian agenda in times of crisis

By drawing on the Italian case, this article critically discusses the use of crisis as a tool of knowledge and expertise production. In recent years, the theme of crisis has played a key role in shifting migration management towards a humanitarian agenda based on the premise that contemporary migration to Europe is comprised of forced mass movement. The article considers the extent to which migrants’ subjectivities call into question the knowledge that has been produced during the current era. It also reflects on the ways in which gender and race provide fundamental insights for a better understanding of the evolution of migration management within the context of crisis.     

A Narrative Approach to Europe’s Identity Crisis

Alongside the institutionally constructed European identity, research shows that insights into citizens’ sense of belonging are valuable as well in assessing questions of identity. The tendency to conflate European identity with EU identity has spurred debates about the components that underlie European identification. The online subsidiarity adopted by the EU through e-platforms has allowed for a new form of citizenship where e-citizens (de)legitimate the issues under debate. This article examines the contents of European and national identities in the e-debaters’ comments posted on the Debating Europe platform. Drawing on narrative and discursive approaches, we propose a framework to operationalize the (de)legitimation and identification categories used by e-debaters within their discursive construction of European identity. The qualitative empirical research shows three main (de)legitimation clusters: the “EU as a loss,” “inclusive gain,” and “exclusive gain.” We discuss these findings within the broader context of Europeanization, identity multiplicity, and the conditions of the EU enlargement policy.     

San Juan,the Fragile City: Finance Capital,Class, and the Making of Puerto Rico's Economic Crisis

This paper narrates Puerto Rico's fiscal and financial crisis through a reading of San Juan's urban landscape. We underscore the role of capital in the city, primarily embodied by the local capitalist class (the Criollo bloc) and foreign capitalists. Historically excluded from the manufacturing sector (dominated by US capitalists), the Criollo bloc accumulates its wealth by concentrating financial assets in the city. In times of crisis, the Criollo bloc resorts to the acquisition of new assets and asset exchange with foreign capitalists to remain solvent and provide short‐term solutions to the state's fiscal and financial limits. The survival of the local capitalist class, we demonstrate, is dependent on asset stripping. Drawing on Clyde Woods, we document how asset stripping unevenly redistributes wealth and risks along class and racial lines within a colonial economy. The finance capital/asset stripping basis of San Juan's economy renders it an extremely fragile city, we contend.     

Hierarchies of trade in Yiwu and Dushanbe: The case of an Uzbek merchant family from Tajikistan

ABSTRACT

This article focuses on the trading trajectory of an Uzbek family of merchants from Tajikistan. This family runs businesses in both Tajikistan’s capital, Dushanbe, and China’s famous international trading city: Yiwu. The analysis is centred on the accounts placed by Tajikistan’s Uzbek merchants about their historically sustained experience, often across several generations, in trading activities. These merchants’ claims of belonging to a ‘historical’ trading community rather than being ‘newcomers’ to long-distance commerce are articulated in relation to notions of ‘hierarchies of trade’ as they evolve in a twofold relational model linking Yiwu’s Changchun neighbourhood and Dushanbe. I suggest that the forms of conviviality enacted in Yiwu’s Changchun neighbourhood need to be understood in terms of the historical, multinational and transregional contacts that have occurred within the spaces of the former Soviet Union, as well as along the China-Russia and China-Central Asian borders. Equally, the hierarchies of trade of Uzbek merchants from Tajikistan in Yiwu’s Changchun neighbourhood cut-across markers of identity that juxtapose the roles of Tajik and Uzbek communities in Tajikistan’s contemporary politics and economics.     

Revisiting Bula Matari and the Congo Crisis: Successes and Anxieties in Belgium’s Late Colonial State

It is the era of decolonisation in central Africa: angry mobs in the streets; authorities struggling to contain agitation by communists and other subversives; reports of Africans strangled to death or dragged behind cars by European settlers; whites arming themselves. One might presume these scenes of disorder and abuse took place during the Congo crisis from 1960 to 1965, when events appeared to spin out of control in central Africa. In fact, they occurred during the years after the Second World War, when Belgians seemed to have affairs well in hand in their central African colony. The Congo crisis is almost always viewed in sharp contrast to the peaceful era that preceded it—as if the lifting of Belgian rule unleashed chaos—and the relative stability post-1965 that came with the Mobutu dictatorship. There is broad agreement that Congo’s independence was a fiasco, with the former colonial ruler, Belgium, largely to blame. This essay argues that the Belgian authorities were not as in control as has been believed. Historians have known for years now that things were not as rosy as they might have seemed at the time, in the years leading up to independence in 1960, but recently available archival documents reveal the situation was even more fluid than previously thought. Bula Matari was not as far-reaching as believed, and many controls signalled a nervousness inherent in the late colonial state more than they did its strength. Reports by administrators reveal a lack of domination in the 1950s and underlying tensions in the colony, even conflicts. The public impression that Belgians had affairs well in hand is due in part to post-Second World War propaganda depicting an idyllic Congo. Belgians wanted to build support for colonialism, bolster their authority, forestall foreign interference and combat their own anxieties. Images produced persuaded many that the Congo was more peaceful than it was. The shock at independence ought to be attributed less to events unfolding as of June 1960 and more to the impressions of tranquillity projected by the authorities beforehand.     

The Economic Degeneration of Masculinity in Rafael Chirbes's En la orilla

Rafael Chirbes's En la orilla has been proclaimed as “la novela de la crisis,” and it has garnered an impressive amount of distinction in the short length of time since its publication in May 2013. It was voted the 2013 novel of the year by readers of El País, and in January 2014 it won the Premio Francisco Umbral, as well as reaching its fifth edition. Unsparingly critical, En la orilla forms an integral part of the cultural requestioning of social values in the wake of the Spanish crisis, “la literatura de la crisis,” which stresses the human and material consequences of the suspension of human values stemming from the social endorsement of market imperialism. En la orilla thematizes the corrosion of moral character during Spain's economic boom, in its multiple forms, such as selfishness, disregard for the elderly, and arrant mercenariness, while also fictionalizing neoliberal Spain's exclusion of immigrants and the poor. Integral to Chiribes's historically contextualized critique of the recession, and the object of my study, is a perceptive vision of the historical degeneration of masculinity from the Second Republic, 1931–1936, to the present day. This article will first provide a brief overview of “la literatura de la crisis,” while the second part illumines the economic and ideological distortion of the father–son relationship in this novel.     

Italy's unfinished transition: between domestic dynamics and international change

In the early 1990s, Italy was drawn into a spiral of unprecedented transformation precipitated by changes that were taking place both inside Italy and on the international scene. Financial, political and institutional crises were superimposed in ways that brought into question the survival of the whole Italian system. This occurred at a moment when world geo-political relations were shifting dramatically and radically changing established relations, attitudes and policies and marked the beginning of a long period that is often described as a ‘transition’. But since the outcomes still remain far from certain, it is necessary to consider how accurately this term describes what has been taking place in Italy over the last two decades. This paper shows how more careful identification of the different phases and components of the crisis enable us to understand why the upheavals of 1992–94 have led to a systemic crisis of the Italian economy and politics.     

Governmentalities of Urban Crises in Inner‐city Athens,Greece

Through the notion of “conjuncture” this paper explores the interplay of urban crises that have been unfolding in the city of Athens during the past 7 years (2008–2014). By focusing on specific “critical moments” that have significantly influenced the narratives, discourses and subsequent policies concerning “Athens in crisis”, it examines a number of intertwined approaches and tactics that shaped the governmentality of such crisis. These approaches and tactics, that work in tandem, include emergency‐driven policies and politics; politics of fear that occasionally transform into geographies of fear; processes of defining the “public” and “public enemies”; and redefinitions of (il)legalities. Yet, they have repercussions on people, places and politics. In this context, certain issues are deemed critical or urgent while others do not or are even obscured.