Since 2022, global geopolitical conflicts have intensified, and there has been a notable increase in the international community's demand for currency diversification. This has created a new opportunity for the internationalization of the Renminbi (RMB). This paper examines the factors influencing the internationalization of the RMB, with a particular focus on its role as a unit of account, medium of exchange and store of value. These functions are considered in conjunction with the digital technological innovation represented by e-CNY. The methodology employed is based on the vector autoregression (VAR) model, Granger causality test and variance decomposition analysis. The Granger causality test indicates that digital technology innovation is not the primary driver of RMB internationalization at this juncture. The impulse response analysis and variance decomposition analysis revealed that the impact and direction of influence exerted by the various factors on RMB internationalization exhibit considerable discrepancies.
As International Atomic Energy Agency has stated in its Handbook on Nuclear Law, “Even in situations for which the highest standard of safety has been achieved, the occurrence of nuclear accidents cannot be completely excluded.” Therefore, the international legal framework for nuclear damage compensation liability has been evolving since the establishment of Nuclear Energy Agency of Organization for Economic Co-operation and Development (OECD NEA) and International Atomic Energy Agency (IAEA). Over the years, various international treaties have been enacted to address the compensation of nuclear damage and to establish liability regimes for nuclear incidents. To date, these treaties have established a series of legal principles of nuclear damage liability, such as the sole liability principle, the strict liability principle, the financial guarantee principle etc., which have been developing since establishment. This paper offers an overview of the historical development of the principles of these international treaties for nuclear damage liability and thus draws upon both primary and secondary sources, including treaties, official documents, academic literature, and reports by international organizations. Including the legislation study methodology, comparative methodology is also adopted in this paper to analyze the changes and trend of these principles. The paper reveals that the Paris Convention, which was established in 1960, was the first attempt to establish a comprehensive legal regime for nuclear damage liability. Most of the principles of this Convention have been inherited by subsequent international treaties and domestic legislations. With the awareness of protecting public’s rights having been significantly strengthened, the range of compensation has been broader, the matters of immunity from liability for operators of nuclear power plants have been reduced, the limitation of the compensation amount has been higher etc. In conclusion, the international legal regime for nuclear damage liability has been showing a shift from protecting the development of the nuclear industry to a joint protection of both public health and rights and the nuclear industry, which should be paid attention to and deeply learnt by domestic legislators of all states for the establishment and perfection of their domestic legislation in this field.
This study examines the relationship between Russian FDI carried out by large MNCs and investment development path (IDP). Although statistical analysis does not establish a significant relationship between outward FDI and GDP, the behavior of Russian outward FDI contradicts traditional models. Two primary factors contribute to this paradox. First, the complex business environment in Russia, characterized by a combination of both improvements and contradictions, has a significant impact on outward FDI behavior. Secondly, the duality of the Russian economy and society plays a decisive role. This segment resembles a high-income country with ample resources, while most face lower income levels, raising concerns about wealth distribution. Historical factors, including Russia’s transition from a state-controlled to a market-oriented economy, contribute to the internationalization of Russian MNCs. Both state-owned enterprises and privatized firms are influenced by the state, although to varying degrees. Government involvement in international business strategies increases the knowledge and experience of Russian MNCs, but also raises concerns about political influence.
This research aims to do the assessing the feasibility of the Public-Private Partnership project in investing in the construction of the Palu-Parigi By-pass road through a PPP financing scheme, thereby providing opportunities for the private sector to participate in the provision of special road infrastructure. In this context, experimental criteria for determining Value for Money (VFM) are applied using the PPP model, to evaluate projects. The main objective also emphasizes the provision of greater VFM Goods through private financing, through conventional methods that are economical, efficient and effective. Furthermore, financial performance measurement reports apply several methods, including Payback Period (PP), Net Present Value (NPV), and Internal Rate of Return (IRR) which determine the feasibility and time required for returns on invested capital. The previous Economic Feasibility Study of the Palu-Parigi By-pass Road Construction project also showed an EIRR value of 20.1% in 2014, illustrating the economic development of this work. In connection with the limitations currently faced by the Regional Budget Agency of Central Sulawesi Province, the next PPP scheme is recommended for road construction by prioritizing infrastructure completion after the 28 September 2018 earthquake and the COVID-19 pandemic. The DBFMT (Design–Build–Finance–Maintenance–Transfer) model was also applied to the project, with GCA responsible for design, construction, financing, periodic maintenance and transfer at the end of the collaboration agreement.
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