The past week's events in Pakistan, China, and Israel comprise the three dimensions of the Political Economy of Art: security, markets, and foreign relations. In security, Pakistan government officials seized a truck containing Buddhist artifacts leaving Karachi. In markets, the Ministry of Culture in China reported that the Chinese art market is the world's largest at $33.18 billion up 24% from 2010. In foreign relations, the Israeli Antiquities Authority discovered a Synagogue floor from the 4th-5th centuries CE in Galilee in collaboration with U.S. and Canadian universities. Complementary events echoed the political economy of art with the International Criminal Court threatening Mali Islamists with war crimes for destruction of religious structures, auction sales in London reflecting interest in rare works while less desirable works remain unsold, and law suits deterring authentication efforts in China.
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