Documents found
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21.More information
The need for financing is very often the cause of a sale with redemption rights. The buyer benefits from the situation by paying less than the normal price or by passing the protective rules prohibiting usury, foreclosure clause, and immediate execution clause. In order to achieve a balance between the two parties, the Kuwaiti legislature has qualified the sale with right of redemption a loan secured by a pledge/ mortgage. However, the Kuwaiti Supreme Court approved the trial judges for having pronounced the nullity of the entire operation, which was considered as a sale with right of redemption. After discussing its qualification and its validity, we addressed the effects attached to the loan contract and those of pledge/ mortgage, as long as the sale with right of redemption is qualified, by the Kuwaiti legislature, a loan secured by a pledge/ mortgage.
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As OPEC surpluses might have been volatile, their recycling was initiallly considered as difficult. But 40 % of these funds were invested in industrialised countries, predominantly in the United States (half of this subtotal). An equal amount was turned to short-term bank deposits which supported medium and long term loans. The remaining 20 % were lent to international organisations and LDC's. OPEC deficits appeared at the beginning of 1982. Up to now, their main counterpart has been a decline in bank deposits in non US banks. But other stocks might be diminished in the near future. The main risk attached to this development is an increase of exchange rate fluctuations rather than a disruption of international capital markets.
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On August 30, 2021, the last american soldier was leaving Kaboul as the victorious Talibans were back in power, after being driven out twenty years earlier by the armed intervention launched by the USA in response to the 09/11 attacks. Scheduled by the Doha Agreement of February 20, 2020, directly negotiated with theTalibans, the withdrawal of the USA and its allies from Afghanistan came as the price to pay for an accumulation of errors of judgment and faulty assessments from the successive american administrations, who, from the very start, had planned the involvment of the country with that withdrawal in mind instead of clearly singling out their objectives. However, the Taliban’s victory would not have been so devastating had not their victorious march on Kaboul brought about the collapse of the governmental apparatus installed with the UNO decisve help, and cast a remorseless light upon the larger failure of the afghan State reconstruction in spite of a massive jointed effort on an international scale. Dismantled in 2001, the Islamic Emirate of Afghanistan has now been restored under the institutional form of a de facto government which no State has to this day recognized, and finds totally incapable of coping with the attacks of terrorists groups now competing with Al Qaïda, and dealing with the disastrous economic crisis heating the country. The latter demands massive international relief and UNO lasting presence, with the appalling regression of human rights, more particularly as regards the situation of women, young girls and minorities, also put to the forefront. (* ) Professeur émérite de l’Université Paris Panthéon-Assas, co-directeur de l’ AFDI .
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Tunisian identity, the geographical characteristics of a country belonging simultaneously to the Maghreb, the Arabo-lslamic world and the Mediterranean. Societal proximity, international proximity, social proximity combined with a strong centralised state superstructure, give substance to a specifically Tunisian personality which is made up of a high capacity for négociation and dialogue. The societal proximity on such a small territory was woven along the Eastern sea-board which had been urbanised in an early period. This contact zone, although not buttressed by important inland centres of power, has managed to play, along the millenia, a highly complex role of absorption of outsides influences at the same time as it imposed, through a progressive tying of the knots, a differentiated control of the constitutive elements of the territory. The modernist complexus which bears witness to Tunisia's international proximity has also developed gradually. In the 19th century, the nahdha or Arab renewal — especially through its political and social reformism — has definitely contributed to anchoring Tunisia to an endogenic process of modernisation which blossomed in the modernist a priori of the elites of the Independence period (1956). The transition in gender matters is the most praiseworthy item of this evolution as it makes Tunisia today by far the most advanced country in the Arab world in this respect. The new problems to which the country has been confronted lately are real challenges. Thanks to unmistakable economic achievements and great efforts in its social policy, the backbone of the country — the urbanised axis of the eastern seaboard — has achieved spectacular advances which testify to a high social proximity and a great capacity of regulation and governance. The differentiated treatments of the various components of the Tunisian entity meets its limits when confronted to the socio-spatial inertia in some parts of the country and international changes abroad. The economic, cultural and geopolitical environment can only be met on equal terms through a strengthening of the components of a society that upholds the values of tolerance and open-mindedness and remains faithful to its Arabic, Muslim and Mediterranean heritage as well as to modernity. These are the internal and external references which shape, along a middle of the road compromise, the Tunisian açabiyya. The highly powerful identity machinery at work in the East of the Maghreb has to respond, in the even more acute context of globalisation and aggressive international competition, to the challenges of development and social cohesion. The internal cohesion of the whole and its external connexion to the world economy depends on the minimal thresholds of the societal, international and social proximities. A high level of awareness as to the three types of proximity mentioned can ensure, as it has in the past, the periennal existence of the Tunisian identity and of Tunisia as a nation.
Keywords: géopolitique, proximités sociétale, sociale et internationale, personnalité, Tunisie, Maghreb, monde arabo-islamique, Méditerranée, identité, mondialisation
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Innovations dans les institutions et l'analyse monétaires américaines : les greenbacks « revisités »
More informationInnovations within the American Monetary Institutions and Theorizing (1862-1913). The Greenbacks "Revisited". This paper surveys the Greenbacks era initiated in 1862 when the Treasury of New York issued non-convertible paper money intended to finance the Civil War. As regards institutions the evolution towards unified US monetary system is the consequence of a very complex social and economic, political and doctrinal process. This episode seems still to have an influence upon contemporaneous discussions of monetary policy. As regards theory, these years 1862-1913 played an important role in the emergence of an American school of economic thought. So W. Mitchell, starting from an institutional point of view, built the quantitative tools for analyzing business cycles. I. Fisher extended quantitative theory to credit money and its relations with the cycles. Could the Greenbacks be the remote origin in the shift from the English political economy to the American economic analysis ?
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Made a national priority in the government’s 2016-2020 development plan, the social and solidarity economy (SSE) is embarking on a period of great experimentation in Tunisia. The sector has real advantages : well established throughout the country, a large supply of voluntary work, an intimate knowledge of the terrain, and a potential for creating jobs, wealth and social utility. These advantages are however counter-balanced by significant weaknesses : overly specialised in certain sectors, marginal economic importance, small-scale organisations, unskilled workers, governance issues, and limited access to finance. This article tries to identify the conditions needed to make the SSE a full-fledged third sector, halfway between the state and the market.
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30.More information
François RaillonTo a large extent the relationship between France and Indonesia is determined by their respective expatriate communities, which in turn are affected by the state and evolution of the relationship. The French community in Indonesia (some 3000 people) is basically engaged in business activities. But the French expatriates find it difficult to expand due to a lack of continuity in France's strategy towards Indonesia despite a high priority given to the Archipelago. In France, the Indonesian community is even more limited (around 1000 people) ; its members are deeply involved in pursuing higher education and training in technological fields, within the framework of a number of doctoral programs between both countries. Data about both communities are presented and discussed, as well as developments in the French-Indonesian relationship with its major emphasis on business and training ; however a large mental cultural gap remains between both communities, as their respective cultures and motives differ widely.