Esfandyar Batmanghelidj is the Founder of Bourse & Bazaar, a think tank focused on issues of economic diplomacy and development in the Middle East and Central Asia, and particularly Iran.

April 11, 2024

Analysis

The Electric Vehicle Developmental State

BYD exemplifies transformations in Chinese industrial policy

The rise of the Chinese EV industry has been enabled not only by generous government subsidies but also by profound changes in strategy and organization, and in particular by a distinctive revival of vertical integration—at both individual firm and national…

August 23, 2023

Analysis

Coercion and Inequality

The distributional effects of sanctions in Iran

“Plumbing” is an oft-used metaphor for understanding how sanctions work. Sanctions are intended to stop the flow of money to the targeted government; reserves are frozen, trade is blocked, export revenues dry up, and government budgets are drained. Even the…

February 18, 2023

Reviews

The Sanctions Age

On Agathe Demarais’s “Backfire: How Sanctions Reshape the World Against US Interests”

Charles De Gaulle declared in 1961, “A great state which does not possess [nuclear weapons]… does not command its own destiny.” France became the world’s fourth nuclear power in 1960 following the Gerboise Bleue nuclear test. Yet the command of…