How To Land Your Dream Internship: LIDS Projects!

Jan. 21, 2014 – John Rennie

With the start of the spring semester one of the biggest questions on students’ minds is how they will spend the upcoming summer. For many law students this has already been settled and they know what law firm they will be working at during the summer. But others, especially graduate students like myself, face an open opportunity. This can be a challenge – finding the right internship can require both work and luck – but also an opportunity, as it provides a reason to reach out to organizations that you have always been interested in and see where you might fit.

I mention the process of finding internship and jobs because I think it highlights one of the biggest assets of LIDS projects – the opportunity to engage with organizations doing exciting and cutting-edge development work. As I learned last year, this can be a natural step to a great summer internship.

I began working on LIDS projects last year when I joined a project with the Vale Columbia Center for Sustainable International Investment. Our project researched best practices in the use of technology transfers in FDI. As I got to know the organization and their work better, I came to realize that their work was closely aligned with my professional interests. Vale is a young research and consulting group affiliated with Columbia University. They work with companies and government to maximize the social, economic, and environmental returns on investments while minimizing the risk. After meeting with our project’s supervisor and discussing her work, I quickly agreed to spend my summer doing further research for Vale.

I spent my summer with Vale in New York researching and writing a paper on how a recent ICSID ruling has created important new limitations on the use of performance requirements, which are a set of policies that stimulate that investors must meet certain standards if they invest in a country (such as local content requirements). This has important consequences for developing countries, many of which consider performance requirements to be a useful tool for shaping industrial and development policy. This internship gave me the opportunity to develop a deep understanding of an issue that is highly relevant to the field I hope to work in and it has been very helpful in deepening my understanding of development economics and trade law.

All of the graduate schools in the Boston area have fascinating activities going on each day. But it is useful to remember that when we graduate we’ll be hoping to find a job that provides us an opportunity to use our skills and make a difference. In my experience, LIDS projects have provided an important bridge between school and the outside world. I’m excited that this spring many more students will be joining LIDS projects and having similar experiences.

John Rennie

Battle for Foreign Direct Investment in Asia

Jan. 14, 2014 – Julian M. Hill

Asian countries positioning to attract more foreign capital, but at what cost?

Last month, E&Y (formally Ernst & Young) gave India an early Christmas present, apparently crowning India as the most attractive destination in the world for foreign direct investment (FDI). In the world, E&Y said! Besides its depreciating currency (at the time at least) and domestic companies divesting from homegrown entities, India’s liberalization of its FDI policy in August is likely a key reason for the country’s increasing appeal. The Indian government, for seven sectors, decided to increase the amount of FDI that could be contributed to companies and eliminate mandatory government approval, under certain circumstances, in five other sectors. Such broad liberalizations in FDI-governing laws are just one among other strategies being used by Asian countries to attract foreign money.

More targeted relaxations are being employed by Mongolia to encourage inbound FDI specifically from Chinese investors. Laos’s leadership also used a focused approach a few weeks ago to solicit more FDI from South Korea’s private sector during a trip to Seoul. Many Asian countries, like Laos, see FDI as an important contributor to economic growth and are not afraid to go out and get it.

Longer-term bilateral approaches in the form of bilateral treaties and co-operation agreements are continuously being drafted as well, as in the case of Malaysia and China. In October, the two countries reaffirmed agreements to bilaterally trade USD $160B over the next five years, agreements which also include terms centered on common defense and security cooperation.

With China’s economy growing and prices for labor and services increasing, countries like Cambodia and Vietnam are likely to attract investments that will exploit relatively lower related costs (Samsung made its move just this month). And so continues the race to the bottom, where multinational companies encourage countries to compete over them. The country that can deregulate the most, often at the expense of local industries, seems to win.

Infusing foreign capital into countries that need it is important—I’m no fool. The ugly side, though, cannot be ignored—displacement of politically weak communities, ignoring of labor rights, and the degradation of ecological systems among other problems. Luckily we can all just rely on it all trickling down right?  That’s if the goal is being poor and exploited with one job rather than being relatively less poor with no job.

Links for more information

http://www.globalpost.com/dispatch/news/xinhua-news-agency/131126/laos-seeks-foreign-direct-investment-s-korea

http://www.mad-mongolia.com/news/mongolia-news/mongolias-new-law-expected-to-attract-chinese-billions-2-16337/

http://blogs.wsj.com/searealtime/2013/10/05/china-malaysia-seek-to-strengthen-ties/

http://www.taipeitimes.com/News/biz/archives/2013/12/13/2003578891

http://www.dnaindia.com/money/interview-many-south-korean-companies-doing-surveys-to-invest-in-india-seok-gu-jang-1939923

[photo courtesy of ironline.american.edu]

LIDS Event – Human Rights and Chinese Investment in Africa

Event: Human Rights and Chinese Investment in Africa with Professor Muna Ndulo

Professor Muna Ndulo will discuss the human rights consequences of Chinese investment within Africa. Professor Ndulo is an internationally recognized scholar in the fields of constitution making, governance and institution building, human rights and Foreign Direct Investments. He is a Professor of Law Cornell Law School and Director of the Cornell University’s Institute for African Development. He has previously served in a number of UN positions in various developing countries, including South Africa, East Timor, Kosovo, and Afghanistan. He has also worked for the World Bank, African Development Bank and United Nations Development Program.

LIDS Event – Human Rights and Chinese Investment in Africa

Event: Human Rights and Chinese Investment in Africa with Professor Muna Ndulo

When: Thursday, October 3 at noon

Location: WCC B015

Professor Muna Ndulo will discuss the human rights consequences of Chinese investment within Africa. Professor Ndulo is an internationally recognized scholar in the fields of constitution making, governance and institution building, human rights and Foreign Direct Investments. He is a Professor of Law Cornell Law School and Director of the Cornell University’s Institute for African Development. He has previously served in a number of UN positions in various developing countries, including South Africa, East Timor, Kosovo, and Afghanistan. He has also worked for the World Bank, African Development Bank and United Nations Development Program.