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UCI expert sources for the Russia/Ukraine Conflict

On Friday, Feb. 25, 2022, UCI’s School of Social Sciences hosted a webinar titled, “Understanding the Russia-Ukraine Crisis.” Several of the experts below offered perspective on key issues surrounding the escalating conflict between Russia and Ukraine. You can watch or listen to the webinar here: https://www.socsci.uci.edu/newsevents/news/2022/2022-02-25-understanding-the-russia-ukraine-crisis.php UCI faculty members available to comment, and their areas of expertise, are found below. Matthew Beckmann, Associate Professor, Political Science. Professor Beckman studies the organizational structures and operational strategies presidents can use to pick their team, invest their time, focus their attention, channel their effort, discipline their thinking, coordinate their subordinates, and, most importantly, make decisions. Contact: beckmann@uci.edu Jeffrey Kopstein, Professor, Political Science. In his research, Professor Kopstein focuses on interethnic violence, voting patterns of minority groups, and anti-liberal tendencies in civil society, paying special attention to cases within European and Russian Jewish history. As pertains to the Russia/Ukraine conflict, he can speak to politics in Russia and Ukraine, Authoritarianism, NATO and the transatlantic alliance, and European Union policy. Contact: kopstein@uci.edu Erin Lockwood, Assistant Professor, Political Science. Professor Lockwood’s research areas include international political economy and global financial politics. She can speak to questions related to economic sanctions, financial sanctions/financial infrastructure and payments systems more generally (for example, the prospect of cutting off Russian access to the SWIFT financial communications system.) Contact: eklockwo@uci.edu David Meyer, Professor, Sociology, Political Science and Planning, Policy & Design. Professor Meyer’s research examines the relationships between social movements and the political contexts in which they emerge. Topics surrounding the Russia/Ukraine conflict that align with his expertise include sanction strategy; the resistance strategy that might emerge in Ukraine in the face of occupation; the history of the Cold War and its influence today; and the possibility of a powerful peace/isolationist movement emerging in the U.S. Contact: dmeyer@uci.edu Gustavo Oliveira, Assistant Professor, Global & International Studies. Professor Oliveira is a specialist in global political economy and critical geopolitics, focusing on the BRICS countries (Brazil, Russia, India, China, and South Africa) and international commodity markets, especially agricultural trade and natural resource governance. He can speak to the basis of the Russia/Ukraine conflict on natural resources, and the repercussions of the conflict for international commodity markets, inflation, and disruptions to global food supply chains. He can also speak about the anti-war movements in Russia, Europe, the United States, and broader political repercussions of the conflict in Brazil, Latin America, and the U.S. Contact: gustavo.oliveira@uci.edu Stergios Skaperdas, Professor, Economics and Director of the Center for Global Peace and Conflict Studies. His general area of research is political economy, the interaction of economics and politics. Among other issues, he has studied conflict and wars, the role of the modern state in economic development, and the interaction of globalization and geopolitics. Contact: sskaperd@uci.edu Etel Solingen, Distinguished Professor, Political Science and Thomas T. and Elizabeth C. Tierney Chair in Peace and Conflict Studies. Solingen studies the reciprocal influence between international political economy and international security, globalization and its discontents. She can discuss the crisis in terms of historical precedents (of international crises), the utility of sanctions, bargaining in crisis, Russia’s economic decline and how it bears on the current crisis. Contact: etel.solingen@uci.edu Media Contacts: • Tom Vasich, Communications Officer, UCI | 949-285-6455 | tmvasich@uci.edu • Heather Ashbach, Executive Director of Marketing and Communications, School of Social Sciences | 719-651-3224 | hashbach@uci.edu

Podcast: Germany’s caution over Russian aggression ‘disappointing’ NATO

Russia’s threat to Ukraine has highlighted differences between east and west Germans over handling of Russia, and the country’s cautious foreign policy Aston University academic explains why German soldiers shooting at Russian counterparts would be seen as a “tremendous failure” New Chancellor Olaf Scholz faces massive challenges including how to handle Covid-19, “crumbling” infrastructure, and climate change targets. Germany without its stalwart former leader Angela Merkel faces a number of huge challenges – not least the threat of Russia invading Ukraine. While Germany wants to provide leadership within the European Union, its diplomatic stance over Russia is at odds with many other countries within NATO. Those are the views of Dr Ed Turner, a reader in politics at Aston University, who was interviewed in the latest episode of the 'Society matters' podcast series, presented by journalist Steve Dyson. The episode, subtitled 'What Germany's new government means for the UK, Europe and Russia', follows a political shift following the departure of Chancellor Angela Merkel last year after 16 years in charge, after the defeat of her Christian Democratic Party. Dr Turner said the immediate priority for new Social Democrat Chancellor Olaf Scholz was “undoubtedly the crisis in Ukraine and the positioning of large numbers of Russian troops on Ukraine’s border, and the real worry that Russia will invade”. He said Germany wants the issue addressed, “but is doing so in a way that is really very cautious and is disappointing to many of Germany’s allies”. Dr Turner, who is also co-director of the Aston Centre for Europe, said Germany’s “very different approach” was reflective of its history with Russia. He explained: “There is a strong sense that Germany owes a significant debt, has a particular responsibility towards Russia for the losses incurred in World War One and, particularly, in World War Two. “The perception is that German troops once again firing at Russian soldiers would be a tremendous failure. Germany also places a strong emphasis on diplomacy as a way of engaging in foreign relations rather than hard military interventions.” There were also “economic angles”, he added, with Germany needing Russian energy at a time when it was committed to phasing out coal and nuclear power. Dr Turner, whose fascination with Germany began when he cycled through the country as a teenager, said a “carrot and stick” balance was dividing the country, with 68 per cent of west Germans but only 34 per cent of east Germans last year supporting EU sanctions against Russia. This reflected “really big disparities” more than 30 years after German reunification, with 60 per cent of east Germans feeling they are treated as second class citizens. Dr Turner said post-Merkel Germany faced big challenges including handling Covid-19, large parts of German infrastructure “really crumbling” with a big backlog of investment needed, and a pledge to move faster towards net zero emissions. But he added that UK-German relations in the wake of Brexit were not on the list of big things. “Good relations between the UK and Germany will depend on the nature of the UK’s relations with the European Union,” he said. “If the UK is at loggerheads with the European Union, in particular if there was a worsening of the situation in relation to the Northern Ireland protocol, then relations with Germany would get worse.” But Dr Turner said there was “huge affection” for the UK in Germany. “Germans are willing to disentangle the UK from Brexit and to say ‘we want to move on and don’t think badly of you’. I really want to see bridge-building between the two countries over the coming years.” Dr Turner said Germany remained “nervous” of the advance of the far right, especially if numbers of refugees coming to Germany were to grow. He said Angela Merkel would be remembered for Germany’s “humane response” to the 2015 refugee crisis, but others were “much more critical” over her policy. This, he added, led to German society becoming divided and the far right gaining ground. But Dr Turner acknowledged Mrs Merkel as a “remarkable leader who really broke the mould” as the first woman Chancellor and first from the east. In contrast, her successor is seen as a “steady hand on the tiller” as he heads a “traffic light coalition” of Social Democrats, Greens and Liberals. Episode 6 in series 2 of the ‘Society matters’ podcast and all previous episodes can be found HERE.

New £2.8m MRI scanner delivered to Aston University

A landmark moment in the improvement to facilities at Aston Institute of Health and Neurodevelopment (IHN) has been reached with the arrival of its new £2.8m MRI scanner on site. A landmark moment in the improvement to facilities at Aston Institute of Health and Neurodevelopment (IHN) has been reached with the arrival of its new £2.8m MRI scanner on site. The new Siemens MAGNETOM Prisma 3T MRI scanner will enhance the world-class neuroimaging research facilities within the Institute. The old machine has already been removed from the building and internal spaces are currently being refurbished before the new scanner is lifted into the building. Researchers in the Institute use advanced neuroimaging techniques to discover biomarkers of brain health in children with neurological disease. By detecting those biomarkers, they are able to determine those who are at risk of longer term poor cognitive, behavioural and health outcomes with the goal/vision of providing early support to those children who need it most. The new scanner will also enable the Institute to provide the most recent innovations in MRI for patients visiting through the clinical service, Aston University Imaging. Patients visiting for MRI scans come through private referrals, as well as from local institutions such as the Birmingham Royal Ballet and Aston Villa football club. Professor Jackie Blissett, co-director of Aston Institute of Health and Neurodevelopment, said: “The arrival of our new MRI scanner is tremendously exciting. This state-of-the-art equipment is core to our child-focused research programme that delivers a new understanding of development and disease and the interventions that will make a difference.” Aston University Students' Union President, Balraj Purewal added: "It is great that we have a new state-of-the-art MRI scanner being installed on our campus. It will not only help our researchers in their work, but will also be of benefit to patients in the community, including young people, supporting both their diagnosis and treatment." For more information about the Aston Institute of Health and Neurodevelopment, please visit our website.

Aston University encourages SMEs to sign up to Innovation Workshops to support business growth

SMEs with a registered or trading address in Birmingham, Solihull, Redditch, Bromsgrove or the Wyre Forest are invited to attend The full series consists of three workshops hosted by academics from Aston Business School and Birmingham City Business School The workshops are part of the Innovation Vouchers scheme to help drive innovation and business growth SMEs with a registered or trading address in Birmingham, Solihull, Redditch, Bromsgrove, or the Wyre Forest have been invited to attend Aston Business School’s Innovation Workshops. The free1 workshops are part of the Innovation Vouchers project, which is part funded by the European Regional Development Fund. The full series consists of three workshops hosted by academics from Aston Business School and Birmingham City Business School on 2, 9 and 23 February 2022 running from 9.30 am to 5.00 pm at The Eastside Rooms in central Birmingham. The academics include Innovation Vouchers project director Professor Nick Theodorakopoulos and head of Aston Business School Professor Pawan Budhwar. The workshops are on three key areas: 2 February 2022: Envisioning Growth through Innovation 9 February 2022: Leadership & Strategy for Innovation 23 February 2022: Marketing for Innovation Attendees who attend all workshop sessions will receive a ‘Managing Innovation in Business’ certificate from Aston Business School. Nick Theodorakopoulos, professor of entrepreneurship development and Innovation Vouchers project director at Aston Business School, said: “The Innovation Workshops support small-and-medium sized businesses to build their capacity to innovate and grow. “Independent evaluations from the previous project phases have showed that workshops have a positive impact on attendees, resulting in substantial increases in gross value added and new job creation. “The staff who deliver the workshops are experts in their field with excellent industry experience. I would encourage businesses owners to attend the Innovation Workshops and grow their business.” Tickets for the Innovation Workshops are available HERE. Notes to Editors 1The workshops are free for eligible businesses. However, de minimis rules apply. The support we plan to provide through the workshops will comply with the State Aid rules using the de minimis exemption (in accordance with Commission Regulation (EU) No 1407/2013, OJ L 352/1). Under this exemption a single undertaking may receive up to the limit of €200,000 of De Minimis aid from the Member State within which it does business and which provides the aid over any period of three fiscal years. To attend the workshops, you will be asked to complete a Statement of Previous Aid received under the De Minimis exemption and arrange for a director of your business to sign it. Using this information we will assess your eligibility to receive assistance. About Innovation Vouchers European Regional Development Fund The project is receiving up to £803,273 of funding from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Ministry of Housing, Communities and Local Government (and in London the intermediate body Greater London Authority) is the Managing Authority for European Regional Development Fund. Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations. For more information visit https://www.gov.uk/european-growth-funding Workshop Times and Dates All Innovation Workshops start at 9.30am and end at 5pm.

Georgia leaders to speak as part of Georgia Southern’s 2022 MLK Jr. commemorative events

Rev. Francys Johnson, J.D., (‘01) and Amir-Jamal Touré, J.D., will serve as speakers during Georgia Southern’s 2022 Martin Luther King (MLK) Jr. Celebration Dinners on Jan. 25 in Statesboro and Jan. 26 on the Armstrong Campus in Savannah, respectively. Johnson is a civil rights attorney, public theologian, educator and advocate who succeeded Stacey Abrams and Raphael Warnock as chair of the New Georgia Project. Johnson will speak at the MLK Celebration Dinner on Jan. 25 at 6 p.m. in the Nessmith-Lane Center Ballroom on the Statesboro Campus. Touré is the resident scholar for Geechee Kunda Cultural Center and Museum in Riceboro, Georgia, and a Djeli (chronicler of Gullah Geechee history). He has performed internationally in sharing history and culture and is known for his work in socioeconomic, politics and social justice areas. Touré will speak on Jan. 26 at 6 p.m. in the Student Union Ballroom on the Armstrong Campus in Savannah. During the celebration dinners, the Office of Multicultural Affairs (OMA) will hand out inaugural Drum Major of Justice Awards, which will be given to student leaders and student organizations that OMA leadership determine best exemplify MLK’s commitment to social justice. In addition to the evening events, student, faculty and staff volunteers will join OMA and Office of Leadership and Community Engagement for a weekend of community service from Jan. 15 through Jan. 17 as part of the Eagles in Action: MLK’s Legacy of Service initiative.

Good COP or bad COP? | The Aston Angle

Four Aston University experts reflect on COP26 and what it means for transport, community and global action on decarbonisation, support for small businesses and China’s coal consumption. COP26 was the 26th United Nations Climate Change conference held in Glasgow from 31 October to 13 November 2021. The participating 197 countries agreed a new deal, known as the Glasgow Climate Pact, aimed at staving off dangerous climate change. But will it be enough? Dr Lucy Rackcliff explains why replacing petrol and diesel vehicles with electric ones alone is not radical enough. The overwhelming message coming from COP26 transport day seemed to be that moving to zero emission-vehicles would solve the well-documented issues created by petrol and diesel fuelled vehicles. As noted at the conference itself, transport is responsible for 10% of global emissions, and emissions from transport continue to increase. The WHO estimates that transport-related air pollution affects the health of tens of thousands of people every year in the WHO European Region alone. However, on-street pollution is not the only effect we should seek to address. Transport is responsible (directly or indirectly) for a wider range of environmental issues, and a wider range of health impacts. Moving to electric vehicles will not address impacts such as loss of land for other activities, use of finite resources in the manufacturing process, the need to dispose of obsolete materials such as used tyres, and the health effects of sedentary lifestyles, facilitated by car-use. In urban areas in particular, re-thinking policy to focus on walking, cycling and public transport-use could free up land for other activities. Car parks could become actual parks, in turn encouraging more active lifestyles, creating space for people and plants, and leading to a range of wider societal benefits. Assuming that replacing petrol and diesel vehicles with electric ones will solve all our problems is a strategy which lacks ambition, and thus denies us the benefits that more radical thinking could deliver. Dr Lucy Rackcliff, Senior Teaching Fellow, Engineering Systems & Supply Chain Management, Aston Logistics and Systems Institute, College of Engineering and Physical Sciences. "Assuming that replacing petrol and diesel vehicles with electric ones will solve all our problems is a strategy which lacks ambition." Professor Patricia Thornley reflects on the role that Aston University and EBRI can play in empowering community action and informing global action with research. COP26 energy day was a fabulous experience. I have never before seen so many people in one place with one ambition: to support and accelerate decarbonisation of the UK’s energy systems. We ran a “fishbowl”, which allows people with different perspectives on a topic (experts and non-experts) to participate in dialogue around a common interest. Our researchers, local government representatives, industrialists and students shared their thoughts on what our future energy mix should look like, how it should be delivered and who needs to act. Without doubt the consensus was that many different technologies have a role to play and there is an urgent need to accelerate implementation. There were reflections on the importance of governance at different levels and an interesting discussion around the relative merits of centralized solutions and devolved actions. The reality is that of course we need both and that made me think about what Aston University and EBRI can do. Of course we should implement centrally with initiatives like the impressively low carbon Students’ Union building, but we also need to raise awareness among our students. Our film showing with the Students’ Union a week later helped with that I hope, and many more of our courses are incorporating sustainability elements which is fantastic. But what we haven’t quite achieved yet is an empowered, proactive voice that would lead to wider community action. There are pockets of excellence but a lot still to be done. My second week at COP26 was very different with police presence outside a building where I had three meetings with industrialists on the controversial topics of forestry and land-use. It was sad to be working with key players to improve sustainability and increase carbon reductions through UK bioenergy while listening to drumbeats outside from objecting protestors. There is a real lack of understanding around forest management and global land use and we need to work harder to improve that. It is a huge challenge, but one that EBRI will work hard to address. Professor Patricia Thornley, Director of EBRI, Energy and Bioproducts Research Institute (EBRI), College of Engineering and Physical Sciences. "There is a real lack of understanding around forest management and global land use and we need to work harder to improve that." Professor Presanta Dey explores whether Government pledges on climate change will translate to practical support for small businesses Following the COP26 climate change summit, the UK Government led the way in making a series of pledges and policy commitments to combat climate change. The question is: how will this translate to practical support for SMEs? Large corporations often take centre stage at COP, which is welcomed, but if we are to see real change, everyone needs to be involved. COP26 provided a refreshing voice for UK small businesses which featured panel discussions on the ‘SME Climate Hub’, highlighting net zero opportunities and challenges for SMEs. The momentum of COP26 has already inspired over 2,000 UK small businesses to sign up to the UN's Race to Zero campaign, which is designed to accelerate the adoption of credible net-zero targets. A long journey ahead still awaits us, however campaigns like these will hopefully start a ripple effect inspiring the remaining six million UK SMEs to take climate action. Small businesses have been crying out for more assistance from the government in the form of ‘green’ grants and financial support to enable them to make the necessary long-term changes. The timely announcement of HSBC’s £500m Green SME Fund at COP26 marks a promising first step towards making it easier for SMEs to fund their green ambitions. In summary, COP26 provided some comfort to UK SMEs seeking a higher level of commitment from government, financial services and businesses. This moment must act as a catalyst for policy makers to continue removing the barriers that are holding small businesses back. Professor Presanta Dey, Professor of Operations & Information Management, College of Business and Social Sciences. Professor Jun Du explains what China’s deal means for the rest of the world following its own energy crisis earlier this year… Despite the many disappointments expressed around the COP26 outcomes, important progess has been made for the world economy moving towards carbon neutrality. Among the noticeable achievements China and the US, which together emit 43% of the total CO2 in the air, have agreed to boost climate co-operation despite many disagreements. This includes China’s pledge to more actively control and cut methane emissions during the next decade - even when the country did not sign up to the global methane pledge made in Glasgow. Reaching net zero will be an unprecedented challenge for all countries. China will need to do the heaviest lifting among all. The country’s energy crisis earlier this year has shown just how hard it will be to reach net zero. The exceptionally early and cold winter this year will demand even more coal, so China’s willingness and resolve for climate commitments are good news to all. While lots of attention was turned to the absence of China’s president, Xi Jinping, from the COP26 climate summit, what is less appreciated is the fact that China is serious about decarbonisation. Few countries invest as much as China in that area, nor grow as fast in finding alternative energy to coal and in green industries like electric cars. China has set specific plans in its 14th national five-year plan for economic and social development to reach peak carbon emissions by 2030 and carbon neutrality by 2060. COP26 could be an additional driver for “an era of accountability” for China. Professor Jun Du, Professor of Economics, Finance and Entrepreneurship, Centre Director, Centre for Business Prosperity, Aston Business School levy.

Brexit caused a large negative effect on UK trade pre-pandemic - new Aston University research

Professor Jun Du and Dr Oleksandr Shepotylo analysed the causal effect of Brexit on the UK’s services trade between 2016 and 2019 They found the UK experienced an average shortfall of £18.5 billion worth of services exports for each of those years Transport, Travel, Insurance and Telecom sectors experienced significant decline post-2016 No significant decline was found in other services including intellectual property, construction and financial. New research from economics experts at Aston University has found Brexit has caused a largely negative effect on UK services trade since the EU referendum. Professor Jun Du and Dr Oleksandr Shepotylo, from Aston Business School, analysed the causal effect of the Brexit referendum on UK’s services trade over the period between 2016 and 2019, in comparison to other major services exporters. They found the uncertainty associated with the UK-EU trade negotiations following the referendum caused harms to the UK services economy as a whole, reducing firms’ exports of services. This damages the competitiveness of services sectors which make up a lion’s share of the UK economy in terms of gross output, value-added and jobs. Professor Du and Dr Shepotylo used a Synthetic Difference in Differences (SDID) estimator to construct a counterfactual of the UK, had it not voted leave in 2016, to compare its services exports performance. This was done by comparing the actual performance of the UK with the modelled performance of a country that looks much like the UK, but did not vote to leave the European Union. They found Brexit resulted in the UK experiencing an average shortfall of £18.5 billion worth of services exports every year between 2016 and 2019 relative to what it would have been, had the UK remained in the EU. The impact varied considerably between different types of services. The UK’s exports in the category of transport, travel, insurance and telecom services saw a statistically significant decline following the referendum. No significant decline was found in business, intellectual property, construction, financial or personal, cultural and recreational services. In addition, Professor Du and Dr Shepotylo did not find evidence to suggest that UK businesses have redirected exports in services from the EU markets to those outside the EU, which is in contrast to exports in goods. The research suggested that Ireland has benefited significantly during this period, with growth in post-Brexit services exports up by £24 billion annually over 2016 to 2019 in the country compared to the counterfactual scenario if Brexit did not occur. This translates to 14.75% of Ireland’s 2019 total services exports, with growth clustered largely in the telecoms, business, intellectual property, and insurance sectors. Jun Du, professor of economics at Aston Business School, said: “Brexit marked a rupture in the highly integrated UK-EU services markets that had been developed during the UK’s membership of the single market. However, the UK’s strength in services was not reflected in the government’s ambitions for the sector in the EU-UK trade negotiations that followed the referendum. “There are other winners besides Ireland in some post-Brexit services areas. The Netherlands have increased considerably in ‘Business’ and ‘Intellectual Property’ exports. “Spain has seen growth in ‘Travel and transport’ services exports. Germany has gained in ‘Transport’, ‘Insurance’, ‘Telecom’ and ‘Intellectual Property’ services exports. While Ireland seems to have done exceptionally well in relation to the export of ‘Telecom’ services, a sharp contrast emerges to the lost exports not just from the UK, but also from the Netherlands, Switzerland and France.” Dr Oleksandr Shepotylo, a senior lecturer in economics, finance and entrepreneurship at Aston University, co-wrote the working paper and said: “UK services exports are 5.7% lower than they would be without Brexit. It reflects an overall decline of the UK as a place for doing business. “What economists tend to agree on is that the UK’s exit from the EU’s custom union and single market may have more significant impacts on services than goods, and more severe impact on post-Brexit regulated services than unregulated services. “It will take some time for the full impact of Brexit on UK services to emerge. Freedom of movement and data flow in some areas between the UK and EU could remain restricted. Stability, transparency and regulatory consistency in financial markets could be challenged. But new opportunities might surface. “Continued trade negotiations and dialogues regarding trade liberalisation are essential with the EU and large, fast-growing markets beyond Europe. Crucial to understanding these impacts will be reliable data and rigorous analysis. Our modelling of marked losers and winners in post-Brexit services trade provides new evidence for an open discussion of the post-Brexit trade in services.” You can read the full working paper HERE

Canadian finances 101: What you should know as a newcomer

Canada’s financial ecosystem is made up of banks, credit unions, trusts, and other financial and insurance companies and it is considered to be one of the most sound and safest in the world. According to the Global Competitiveness Report 2019, published by the World Economic Forum, Canada ranked 9th globally for its financial system, showcasing stability and reliability. As you plan your move, familiarizing yourself with the Canadian banking and financial landscape can help provide context to key tasks like opening bank accounts, building credit history, borrowing money, and filing taxes. In this article: Types of financial institutions in Canada Getting started with taxes: The Canada Revenue Agency (CRA) Canada: A credit-based economy Banking, investments, and money transfers What are the types of financial institutions in Canada? Financial institutions in Canada can be classified into three main categories: 1. Banking institutions These are places where you can deposit, withdraw and borrow money. Examples of such institutions include banks, online-only banks, credit unions, trust companies, mortgage companies, etc. Banks A bank is licensed to receive deposits and make loans. Most banks are managed by the national government. The five largest banks in Canada are often referred to as the “big five” in banking. They are: Royal Bank of Canada (RBC), Toronto-Dominion Bank (TD), Bank of Nova Scotia (Scotiabank), Bank of Montreal (BMO), and Canadian Imperial Bank of Commerce (CIBC). Sometimes, you may hear the term “big six,” including the National Bank of Canada – although, note that its operations are primarily focused in the provinces of Quebec and New Brunswick. Digital-only banks In addition to these banks, there are a few digital-only banks, such as Tangerine (a subsidiary of Scotiabank), Simplii Financial (a subsidiary of CIBC), and EQ Bank. They provide all services online only and do not have any physical branches. Credit unions A credit union is a smaller financial institution that is owned by its members, who are also typically account holders. They operate under provincial legislation and regulations and provide similar services as banks. The main difference between a credit union and a bank is their structure; credit unions are owned by anyone with money in the credit union. The operations are supervised by a democratically elected board of directors made up of local community members. Due to their scale of operations, note that credit unions may have fewer branches and ATMs than a big bank would. Tip: As a newcomer to Canada, you can choose any financial institution of your choice. However, it is helpful to know that the big five banks (like RBC) have newcomer banking packages that specifically cater to permanent residents and international students and are thus better positioned to assist you in your unique situation. Trust companies Trust companies are legal entities similar to banks that act as an agent (on behalf of a person or business) for the purpose of administration, management and the eventual transfer of assets to a party. Mortgage companies Money lending entities such as mortgage finance companies (MFCs) and mortgage investment corporations (MICs) provide real estate financing. MFCs are non-depository financial institutions that underwrite and administer mortgages sourced through brokers. Their lending is funded mainly through securitization or direct sales to third parties, primarily the big six banks. MICs and other private investors typically deal in uninsured, customized mortgage products that are not available through traditional channels. These products include non-prime loans, second mortgages and very short-term mortgages. Key financial authority: The Bank of Canada The Bank of Canada is the nation’s central bank. Its principal role is to promote the economic and financial welfare of Canada. The Bank influences the supply of money circulating in the economy, using its monetary policy framework to keep inflation low and stable. It promotes safe, sound and efficient financial systems, within Canada and internationally, and conducts transactions in financial markets in support of these objectives. Additionally, the Bank of Canada also designs, issues and distributes Canada’s bank notes and acts as the “fiscal agent” for the government of Canada, managing its public debt programs and foreign exchange reserves. It also sets the interest rates in Canada. 2. Insurance companies These are entities that sell insurance to cover the risk of loss in various situations, caused due to a variety of factors. They include homeowner or renter’s insurance, health insurance, car insurance, life insurance, and more. They compensate you for any loss that’s covered by your insurance policy. Once you purchase a specific type of insurance, you are required to make periodic payments, called premiums, to the insurance company to avail of the agreed-upon coverage. 3. Investment companies These are organizations that focus on investing, administering or managing funds or money on behalf of other persons. Examples of such companies are investment banks, hedge funds, underwriters, and brokerage firms. Note: There might be an overlap in the services provided by financial institutions. For instance, a leading bank like RBC offers banking services, mortgages, a wide variety of insurance options, investment solutions, and more. Tip: Beware of predatory lenders offering payday, instalment, and other types of loans with very high interest rates. These lenders often prey upon people who need cash quickly and who have run out of all other options. They usually have exorbitant interest rates, confusing and misleading representations, and a lack of transparency and documentation. Therefore, always double-check money lending claims that seem too good to be true. Note that payday loans are provincially regulated while instalment loans are unregulated. What this means is – while interest rates cannot exceed 60 per cent, lenders are effectively free to change terms and add fees and other charges almost at will. Getting started with taxes: The Canada Revenue Agency (CRA) The CRA administers tax laws for the Government of Canada and for most provinces and territories. It administers various social and economic benefit and incentive programs delivered through the tax system. The CRA website is the go-to place for everything related to your taxes: filing annual tax returns, checking receipt of Government benefits and subsidies, viewing tax documents, etc. Important: To register for CRA’s “My Account,” you must have filed a tax return for the current or a previous year. Download Arrive’s free tax guide for newcomers for insights on how to file your taxes and to make sure you’re prepared to manage the expectations that come with paying taxes in Canada. Note: Beware of a long-running CRA scam with callers posing as representatives of the CRA. The CRA will never use threatening language nor ask for information about your passport, health card, driver’s license, or demand immediate payment by Interac e-transfer, bitcoin, prepaid credit cards or gift cards from retailers such as iTunes, Amazon. Canada: A credit-based economy North American countries such as the U.S. and Canada are known to be credit-based economies. This essentially means that most people use their credit cards (instead of debit cards or using cash) to make purchases and then repay the entire amount owed either at the end of their credit card billing cycle or in installments. You will need to build your own credit history, since this is essential to many aspects of life in Canada. Once you receive your first credit card, start by making payments for small expenses such as phone bills or groceries, and be sure you pay the balance in full by the end of the billing cycle. Tip: Keep in mind that credit cards have limits and do not offer free money. They can carry very high-interest rates, so your balance should be managed and paid down promptly – this will help you maintain a good credit rating. A credit score is a way for financial institutions to measure your ability to repay loans. Some scenarios where you may be asked for a credit report are while renting accommodation, applying to certain jobs, and obtaining mortgages or other loans from the bank. Additional resources Download Arrive’s free Credit guide to learn more about credit cards, credit scores, and credit ratings in Canada. For tips on staying debt-free and building your credit history in Canada, read How to build a good credit score from scratch as a newcomer. Banking, investments, and money transfers in Canada Banking Like many other countries, in Canada, you can conduct all your banking and money transfer transactions by walking into a branch or online, through internet banking. See How to open a bank account in Canada as a newcomer to know the process of opening a newcomer account. The article will also provide tips and resources to help you learn more about credit and direct deposits. Investments There are many financial products available to save and invest your money in Canada. They can be broadly classified into savings accounts, registered savings plans and investment products. Depending on your goals and your appetite for risk, you can choose one or a combination of several of these. Read Savings and investments for newcomers in Canada for deeper insights into all available investment products. Money transfers For domestic peer-to-peer payments (think: sending money to a friend, relative, co-worker, or acquaintance in Canada), there are a couple of ways to send and receive money online: Interac and Paypal. Interac is a bank-based tool, while Paypal is a non-bank, third party service. Among these, Interac e-transfers are the most popular and widely used form of peer-to-peer payments in Canada. You can send money overseas through online or mobile banking, by telephone, by email, or in-person. Banks like RBC have a simplified, affordable, and convenient process for international money transfer through online banking. If you have the recipient’s banking information handy, all it takes is a few clicks! Some popular options for international remittances are: Banks Credit unions Money transfer operators like Western Union, MoneyGram, WorldRemit, etc. Peer-to-peer transfer providers such as Transferwise (now, Wise), CurrencyFair, Paypal, etc. Currency exchange businesses When sending money overseas, the Canadian federal government tracks large sums (over $10,000 CAD) through Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) to prevent money-laundering, terrorism funding, and related crimes. Understanding financial products and regulatory agencies in Canada can make you feel overwhelmed. Start with the basics so you can build awareness and a strong foundation to manage your finances in Canada. Original article located here, published by Arrive.

England’s identity: fans sing football’s coming home, but what is home?

Sport matters to national identity. The pageantry of flags, emblems and anthems (both official and unofficial) load sport with symbolism and imagery of the nation. One of the key reasons governments spend billions of dollars to host sporting mega events is to build or reinforce a sense of national identity. However, national identity is fluid, not fixed. Sport offers an arena in which national identity can adapt and change. In England, where many civic institutions represent Britain as a whole, the men’s national football team is particularly important to English identity. In 1996, the country hosted the European Championships tournament. This coincided with the so-called awakening of English national identity, symbolised by the supplanting of the union flag with the waving of the Saint George’s cross at Wembley football stadium and the singing of a new fans’ anthem, Three Lions (Football’s Coming Home). In recent years, celebrating Englishness has often been linked to a narrow and exclusive imagery, which is said to marginalise ethnic minorities and those with a more socially liberal perspective, and has been tied to a football culture often associated with hooliganism. Yet now, as England have reached the finals of the Euros for the first time, the team and its manager, Gareth Southgate, have put football at the centre of a debate about English identity for the opposite reason. Is a more proud, inclusive version of Englishness emerging? Multicultural teams in a globalised world A recent graphic promoted by the UK’s Museum of Migration shows a stark picture of what England’s starting 11 would look like without immigration over the past two generations. With only three players without a parent or grandparent born overseas, the national team is held up as a microcosm of a diverse, multicultural population (although the absence of England’s significant Asian communities is glaring). To paraphrase historian Eric Hobsbawm, the imagined community of multicultural England seems more real as a team of eleven named people. As Southgate said before the 2018 World Cup: “In England we have spent a bit of time being a bit lost as to what our modern identity is. I think as a team we represent that modern identity and hopefully people can connect with us.” In many ways, this is old news. Sport in England and the UK (akin to national identity) has always been a multinational affair, owing to its colonial ties with the countries of the former British Empire. Whether it was Jamaican-born John Barnes scoring against Brazil in 1984, Kevin Pietersen (South African born) winning the Ashes in 2005, or Greg Rusedski (Canadian born), Johanna Konta (Australian born) or, more recently, Emma Raducanu (Canadian born) performing at Wimbledon, British sport has long reflected its colonial history and the tensions and contingencies that brings. Nor is this issue unique to England or the UK. In 1998, the French World Cup-winning team was both celebrated and attacked by pro- and anti-migrant voices for the multiracial makeup of their “rainbow team”, as a large proportion of its players – including its star Zinedine Zidane – had ethnic backgrounds in former French colonies in Africa and the Caribbean. The imperial legacies of Belgium, Netherlands and Portugal are also evident in the diversity of their respective squads. Beyond former colonial powers, most national teams are now more ethnically diverse than they were 30 years ago, due to globalisation and the naturalisation of foreign athletes. England’s quarter-final opponents Ukraine have fielded Brazilian born players Júnior Moraes and Marlos this year, and their captain Andriy Yarmolenko was born in Russia. In addition to historical, cultural and linguistic connections, there is a clear performance imperative: teams that embrace ethnic diversity often outperform teams that don’t. ‘Englishness’ and immigration What is significant about this moment is the wider political context in the UK – particularly the uncertainty over what is “English” national identity and, critically, what should it be. All this comes amid the fray of polarised debate over the issues of immigration and race in England, and the UK more generally. The prospect of a tighter, points-based system of immigration, which has now been introduced, was one of the key themes of the Leave campaign in the 2016 EU referendum. Had such a system been installed several decades ago, the graphic about the English team’s immigration history may well have been approaching reality. And without the talents of Raheem Sterling, Kalvin Phillips, Kieran Trippier and others, England fans may well have been lamenting another disappointing tournament campaign. Amid the euphoria of reaching a final, there remains much soul-searching, as well as division, among the English on the key questions of “who are we” and “what exactly do we want to celebrate”? Fans, quite rightly, are celebrating the achievements of the whole English team, as well as the activism of individual heroes like Sterling and Marcus Rashford. Yet while many fans embrace the diversity of the team, the booing of their own players taking the knee against racism – a gesture that originated in the US – shows that identity politics can still divide, on and off the pitch. In spite of the positive image of diverse modern England projected by this group of players and manager, it is unrealistic to expect football to navigate the current “culture war” and be able to consolidate a more progressive, inclusive vision of Englishness – at least on its own. Other civic, and possibly political, institutions are needed if England is going to mean more than “the 11 men in white shirts at Wembley”. Notwithstanding how people identify themselves in terms of their nationality, research shows that both hosting a football tournament and making successful progression through it can have a positive impact on national feelings of happiness and well-being. If England beat Italy at Wembley on Sunday and win Euro 2020, a feel-good factor will inevitably abound, which may be a springboard to unite a country that is still deeply divided.

Juneteenth is this Saturday? Our experts can help with your coverage and questions

June 19 — Juneteenth — marks the day in 1865 that the Union Army announced in Texas that the African American slaves were free. Black Americans since then have honored the day, even as it has gone unnoticed by many others. In 2020, Jessica Millward, an associate professor of history at UCI, appeared on the UCI Podcast to discuss the history behind Juneteenth, the decades upon decades of continued struggle, and the hope she feels in this moment. And if you’re a reporter covering this important date in American history – then let our experts help with your stories. Dr. Jessica Millward is an Associate professor in the Department of History at the University of California, Irvine. Her research focuses on comparative slavery and emancipation, African American history, gender and the law. Dr. Millward is available to speak with media about Juneteenth – simply click on her icon now to arrange an interview today.