Content Type: Journal Article / Political Geography: Asia / Publication Year: within 25 Years / Topic: Economics

1. Impact of economic sanctions on net commodity-producing and net commodity-consuming countries

Author:: Sergio R. Vale and Eduardo Viola
Publication Date:: 01-2023
Content Type:: Journal Article
Journal:: Revista Brasileira de Política Internacional (RBPI)
Institution:: Instituto Brasileiro de Relações Internacionais (IBRI)
Abstract:: The war in Ukraine has had a marked economic impact. However, since Russia is a net producer of important commodities, the impact of sanctions on its economy was less than expected. But what would happen if there was a war involving a country that was a net importer of commodities? In the case of a possible China-US conflict over Taiwan, the impact on the world economy would be different, with a deeper recession around the world, but the impact on the Brazilian economy would still be positive on account of the possibility that would remain of agricultural exports to China.
Topic:: Agriculture, Economics, International Trade and Finance, Sanctions, Commodities, and Exports
Political Geography:: Russia, China, Europe, Ukraine, Taiwan, Asia, North America, and United States of America

2. US-China Effort to Set “Guardrails” Fizzles with Balloon Incident

Author:: Sourabh Gupta
Publication Date:: 05-2023
Content Type:: Journal Article
Journal:: Comparative Connections
Institution:: Pacific Forum
Abstract:: The proposed “guardrail” that Joe Biden and Xi Jinping sought to erect last fall in Bali failed to emerge in the bitter aftermath of a wayward Chinese surveillance balloon that overflew the United States and violated its sovereignty. Though Antony Blinken and Wang Yi met on the sidelines of the Munich Security Conference afterward, aspersions cast by each side against the other, including a series of disparaging Chinese government reports, fed the chill in ties. Taiwan President Tsai Ing-wen’s meeting with House Speaker Kevin McCarthy during the return leg of her US transit added to bilateral and cross-strait tensions and were met with Chinese sanctions. Issues pertaining to Taiwan, be it arms sales or a speculated Chinese invasion date of the island, remained contentious. The administration’s attempt to restart constructive economic reengagement with China, including via an important speech by US Treasury Secretary Janet Yellen, appears to have fallen on deaf ears in Beijing. Following the Biden-Xi meeting on Nov. 14 on the sidelines of the G20 Leaders Summit in Bali, Indonesia, US-People’s Republic of China relations were transitioning to an improving track—or so it seemed. US Defense Secretary Lloyd Austin met with his Chinese counterpart, Defense Minister Wei Fenghe, on the sidelines of the ASEAN Defense Ministers” Meeting-Plus meeting in Cambodia on Nov. 22. On Dec. 11-12, US Assistant Secretary of State for East Asian and Pacific Affairs Daniel Kritenbrink held “candid, in-depth and constructive” talks in Beijing. On Jan. 18, Secretary Yellen had a “candid, substantive, and constructive conversation” with departing Vice-Premier Liu He in Zurich ahead of the World Economic Forum in Davos. Hours before Secretary Blinken was due to board a flight to Beijing on Feb. 3, which would have been the highest-ranking contact between the two sides since the Bali meeting, the budding rapprochement came to a screeching halt.
Topic:: Security, Foreign Policy, Economics, and Bilateral Relations
Political Geography:: China, Asia, North America, and United States of America

3. Japan-China Relations: A Period of Cold Peace?

Author:: June Teufel Dreyer
Publication Date:: 01-2023
Content Type:: Journal Article
Journal:: Comparative Connections
Institution:: Pacific Forum
Abstract:: In the sole high-level meeting in the reporting period, on the sidelines of the APEC meeting in Bangkok in November, General Secretary/President Xi Jinping and Prime Minister Kishida Fumio essentially talked past each other. At an earlier ASEAN+3 meeting in Phnom Penh, Premier Li Keqiang and Kishida not only talked past each other but pointedly walked past each other. There was no resolution of major issues: the Chinese position is and remains that Taiwan is a core interest of the PRC in which Japan must not interfere. Japan counters that a Chinese invasion would be an emergency for Japan. On the islands known to the Chinese as the Diaoyu and to the Japanese as the Senkaku, Tokyo considers them an integral part of Japan on the basis of history and international law while China says the islands are part of China. On jurisdiction in the East China Sea, Japan says that demarcation should be based on the median line and that China’s efforts at unilateral development of oil and gas resources on its side of the median are illegal. Beijing does not recognize the validity of the median line. Economically, a number of Japanese industries have been decoupling from China out of concern for the integrity of their supply chains and for security reasons while others are planning to expand operations there. Both sides continued their respective defense buildups while accusing the other of military expansionism.
Topic:: Security, Defense Policy, Diplomacy, Economics, Politics, and Bilateral Relations
Political Geography:: Japan, China, and Asia

4. Exploring the Interplay between Trade and Industrial Policies and the Impact of Geopolitics on the Transformation of Taiwan’s Economy

Author:: Ying-Jun Lin
Publication Date:: 10-2023
Content Type:: Journal Article
Journal:: Revista UNISCI/UNISCI Journal
Institution:: Unidad de investigación sobre seguridad y cooperación (UNISCI)
Abstract:: Over the past five decades, Taiwan's economy has shifted from inward-oriented to outward-oriented, from an import-substitution policy to an export-expansion policy. This evolution in economic structure has also brought about changes in the industrial landscape. While there is an ongoing debate about the respective roles of the market and the government in promoting Taiwan's economic growth, this article argues that the history of Taiwan's economy demonstrates a mutually beneficial relationship between trade and industrial policies. The integration of market forces and government intervention has played a crucial role in Taiwan's economic success story. However, the dynamics between the United States and China, as well as the emergence of new Asian regionalism, pose challenges to Taiwanese industries and enterprises. In conclusion, this article emphasises the importance of refining trade and industrial policies in line with the geopolitical context in order to maintain the momentum of Taiwan's economy.
Topic:: Economics, Bilateral Relations, Trade, and Dependency
Political Geography:: China, Taiwan, Asia, and United States of America

5. Is there Eurasian Connectivity without Europe?

Author:: Niva Yau
Publication Date:: 12-2023
Content Type:: Journal Article
Journal:: Fletcher Security Review
Institution:: The Fletcher School, Tufts University
Abstract:: Tucked between Russia, Iran, and China, Central Asia is now desperately looking for solutions to cushion the impacts of global tension on its fragile economies, which are deeply tied to sanctions against Russia and a local production slowdown as China recovers from its zero COVID policy. While European diplomacy has come at a crucial time, its Central Asian policy is ambiguous, and commitments misplaced. Central Asia is continuously perceived by the EU as a region in need of developmental assistance, which leads to European regional policies that focus on digitalization and climate issues. What Central Asia needs is the establishment of concrete logistical connectivity that will enable efficient flow of products across Eurasia.
Topic:: Climate Change, Diplomacy, Economics, European Union, Connectivity, and Digitalization
Political Geography:: Russia, China, Europe, Iran, Central Asia, Eurasia, and Asia

6. Decoding China’s Dilemma: The Difficulties Of Economic Reform

Author:: Sunny Cheung
Publication Date:: 12-2023
Content Type:: Journal Article
Journal:: China Brief
Institution:: The Jamestown Foundation
Abstract:: On November 27, the State Council of the People’s Republic of China (PRC) unveiled a new policy, titled “Notice on Strengthening Financial Support Measures for the Private Economy (关于强化金融支持举措助力民营经济发展壮大的通知)” (People’s Bank of China, November 27). The notice introduces a set of 25 measures crafted to reinvigorate the private sector. These prioritize key areas such as technological innovation, green initiatives, and primary support for small to medium-sized enterprises. The package includes increasing financial assistance and gradually enhancing the proportion of loans to private businesses. It underscores the importance of facilitating credit, lowering interest rates, issuing bonds, and other kinds of financial instruments to meet the varied financing needs of private enterprises. This policy measure echoes mandates put forth during the 20th Party Congress in October 2022 and Central Financial Work Conference held at the end of October 2023 in response to China’s deepening economic woes (Xinhua, November 1). This backdrop has prompted policies aimed at addressing the challenges facing the Chinese economy. In October, the PRC National Bureau of Statistics announced that the Consumer Price Index (CPI) fell by 0.2 percent year-on-year—worse than expected and marking a contraction since July (RTHK, November 9). This ominous data, which includes price deflation for both July and October this year, is indicative of significant weakness in domestic demand, particularly due to the underperforming real estate market, which affects citizens’ expectations for asset prices. The ongoing economic downturn in China also refutes the notion that economic chaos would clear up after the abandonment of the Zero-Covid policy. This situation is also similar to the Japan-style recession in the 90s in which consumption and investment are further repressed in favor of paying down debt. China’s recent response has been to implement a series of economic stimulus measures in an attempt to revive its weakening national economy.
Topic:: Economics, Reform, Business, and Banking
Political Geography:: China and Asia

7. The Chinese Debate on Economic Reform

Author:: Arran Hope
Publication Date:: 09-2023
Content Type:: Journal Article
Journal:: China Brief
Institution:: The Jamestown Foundation
Abstract:: A steady drumbeat of ominous data and troubling commentary on the state of China’s economy has punctuated the summer months. Reports from the commentariat in the anglosphere have provided diagnostic analysis and detailed potential policy solutions that the Chinese government might pursue. However, China’s central decision makers in the Politburo or in the National Development and Reform Commission (NDRC), are more likely to take their cues from internal advisors and domestic experts within the PRC than from those outside. As such, one fruitful exercise is to take the temperature of voices within the system to determine the extent to which their perceptions align or diverge from those in the West, and to ascertain which views carry weight with the final arbiters of economic policy in Beijing. By doing so, analysts outside of China may better comprehend the future (mis)steps that China will take as it struggles to achieve its aim of “basically realizing socialist modernization.” In July, the Chinese government held several meetings and released documents pertaining the economy. On July 24 the Politburo met to discuss the economy as it usually does this time of year. But on the same day, a 17-point plan was issued by the NDRC, following on from a 31-point plan co-issued by the State Council and the Central Committee ten days prior. These send a clear message about the concern in government over China’s straitened circumstances. Indeed, just this week, the NDRC announced a new “private economy development bureau” to further support private industry (NDRC, September 4). The assessment of the situation is put bluntly in the Politburo readout: “the current economic system is facing new challenges… insufficient domestic demand, difficulties in some enterprise’s operations, multiple risks in key areas, and a complex and severe external environment.”
Topic:: Development, Economics, and Reform
Political Geography:: China and Asia

8. A Belt and Road to Nowhere? Italy on the Frontlines of Europe’s Changing Strategy Toward China

Author:: Andrew R. Novo
Publication Date:: 08-2023
Content Type:: Journal Article
Journal:: China Brief
Institution:: The Jamestown Foundation
Abstract:: During her tenure as Prime Minister, Giorgia Meloni has been far more active on the international scene than most observers predicted. Within the first ten months of her tenure, she has traveled to capitals across Europe, Asia, and North Africa and has hosted numerous foreign leaders on official visits. In July, Meloni visited Washington, D.C. where she and President Biden affirmed their commitment to deepening collaboration across various areas of shared interests. Meloni’s foreign policy agenda has touched on a range of issues including, but not limited to, European security, migration, energy policy, and international trade. It is on this last issue that Italy’s decision-making might be most impactful. As the Meloni administration reassesses its economic partnerships around the world, Italy’s relations—and by extension the European Union’s (EU) overarching position—towards the People’s Republic of China (PRC) could witness lasting changes. At the heart of the new government’s economic policy lies its choice of whether to withdraw from China’s Belt and Road Initiative (BRI). Meloni—along with many members of her cabinet—have voiced skepticism towards the agreement. As such, everything is on the table in the run-up to the decision at the end of the year.
Topic:: Foreign Policy, Economics, Infrastructure, and Belt and Road Initiative (BRI)
Political Geography:: China, Europe, Asia, and Italy

9. The Demise of Diplomatic Ambiguity: Parsing South Korea’s Estrangement From China

Author:: Matthew Fulco
Publication Date:: 08-2023
Content Type:: Journal Article
Journal:: China Brief
Institution:: The Jamestown Foundation
Abstract:: In July, the US Ohio-class ballistic-missile submarine (SSBN) visited South Korea for the first time since 1981. Not one, but two of the 560-foot-long warships—which carried a payload of 24 long-range Trident ballistic missiles—surfaced in South Korean waters (Korea JoongAn Daily, July 24, 2023). From Washington and Seoul’s perspective, the SSBN deployment was a pointed reminder to the mercurial North Korean regime to exercise restraint, but the symbolism of the SSBN visit was not lost on China—Pyongyang’s closest ally. For all its military modernization efforts, Beijing has no effective defense against the Ohio-class sub. That South Korea would support the deployment of the SSBNs to its territory illustrates both its concern about rising North Korean brinkmanship and newfound willingness to risk Beijing’s ire. Indeed, after three decades of stable ties anchored in economic interdependence, major changes are afoot in the South Korea-China relationship. Compared to Japan, which also counts China as its largest trading partner, South Korea has historically been less willing to stand its ground in the face of political pressure from Beijing. On the one hand, Seoul and Beijing have no major territorial disputes, but more importantly, South Korea had previously calculated that its political deference—especially on China’s “core interests” like Taiwan—would encourage Beijing to support denuclearization of the Korean Peninsula, the Republic of Korea’s (ROK) top foreign policy objective. For many years, South Korea handled Beijing with kid gloves, irrespective of who was in the Blue House. While the left-leaning Democratic Party of Korea (DPK) is traditionally more China-friendly, it was the conservative President Park Geun-hye who attended China’s jingoistic September 2015 military parade. After a summit between Xi Jinping and Park, both leaders made a commitment to oppose any unilateral actions that could lead to tension on the Korean Peninsula. The following day, President Park joined Xi and Russian President Vladimir Putin in China’s military parade. South Korea was the only US ally to attend the event (The Korea Herald, September 3, 2015). Since then, however, the two countries have drifted apart. The catalyst for this change was Seoul’s decision to deploy the THAAD missile defense system in 2017, which China views as a security threat and South Korea deems essential for self-defense. China has repeatedly demanded that South Korea dismantle its THAAD system (Xinhua, September 21, 2017). When those demands failed to bear fruit, it resorted to sanctions against South Korea (The Korea Herald, March 8, 2017). Furthermore, both China’s imposition of a draconian national security law in Hong Kong and its mismanagement of the coronavirus pandemic have hurt its reputation in South Korea (The South China Morning Post, October 20, 2020). It is against this backdrop that the ROK’s anti-China sentiment has surged to an all-time high—a development that will inevitably spill over into Seoul’s foreign policy. According to a 2021 survey conducted by SisaIN, for the first time since the ROK and the PRC normalized relations in 1992, South Koreans view China even more negatively than they do Japan (SisaIN, November 29, 2021). China’s ruling Communist Party seems oblivious to the existential threat that South Korea feels in the face of surging missile tests by North Korea. The JoongAng Daily noted in June that it takes just two minutes for a North Korean missile to hit Seoul. According to the editorial, “South Korea is technically still at war with North Korea. The government and people must not forget that” (Yonhap News Agency, June 1, 2023). Concluding that political appeasement and economic engagement with China have failed to pay off, South Korea is taking two significant steps: strengthening its ties with its top security partner, the US, and mending fences with its former rival, Japan. The implications of Seoul’s estrangement from Beijing could have far-reaching implications for geopolitics in the broader Indo Pacific region.
Topic:: International Relations, Diplomacy, Economics, and Regional Security
Political Geography:: China, Asia, and South Korea

10. China-Pakistan Economic Corridor: Socio-Cultural and Political Implications for Pakistan Amid Covid19 and the Way Forward

Author:: Mubeen Adnan and Reema Murad
Publication Date:: 07-2023
Content Type:: Journal Article
Journal:: Journal of Political Studies
Institution:: Department of Political Science, University of the Punjab
Abstract:: Through the ‘game changer’ project of China Pakistan Economic Corridor, China is aiming to stabilize its western part by promoting investment and economic development in its neighbour to the West, Pakistan, which will lead to a boost in the Pakistani economy through investments in infrastructure and construction of gas and oil pipeline. There is also the aim of reducing extremism in the Xinjiang region. However, there are several social, cultural and political changes that the project has the potential to bring about in Pakistan. This research work has made an attempt to understand the variousimplications of the China Pakistan Economic Corridor on Pakistan as well as how the COVID-19 pandemic impacted CPEC and the path ahead as the world slowly transitions out of COVID-19. This research paper has used secondary sources in order to answer these pertinent topics. Major opportunities which Pakistan and China have gained through this ChinaPakistan economic Corridor as well as some challenges are also discussed.
Topic:: Economics, Bilateral Relations, Investment, Economic Development, COVID-19, and Opportunity
Political Geography:: Pakistan, China, South Asia, and Asia

11. Istanbul Journal of Economics: Volume 72 Issue 1

Author:: Gökhan Karabulut
Publication Date:: 01-2022
Content Type:: Journal Article
Journal:: Istanbul Journal of Economics
Institution:: Istanbul University Faculty of Economics
Abstract:: Istanbul Journal of Economics-İstanbul İktisat Dergisi is an open access, peer-reviewed, scholarly journal published two times a year in June and December. It has been an official publication of Istanbul University Faculty of Economics since 1939. The manuscripts submitted for publication in the journal must be scientific and original work in Turkish or English. Being one of the earliest peer-reviewed academic journals in Turkey in the area of economics, Istanbul Journal of Economics-İstanbul İktisat Dergisi aims to provide a forum for exploring issues in basicly economics and publish both disciplinary and multidisciplinary articles. Economics is the main scope of the journal. However, multidisciplinary and comparative approaches are encouraged as well and articles from various social science areas such as sociology of economics, history, social policy, international relations, financial studies are welcomed in this regard. The target group of the journal consists of academicians, researchers, professionals, students, related professional and academic bodies and institutions.
Topic:: Debt, Development, Economics, Budget, Finance, Investment, Trade, Unemployment, and COVID-19
Political Geography:: Europe, Turkey, and Asia

12. Istanbul Journal of Economics: Volume 72 Issue 2

Author:: Gökhan Karabulut
Publication Date:: 06-2022
Content Type:: Journal Article
Journal:: Istanbul Journal of Economics
Institution:: Istanbul University Faculty of Economics
Abstract:: Istanbul Journal of Economics-İstanbul İktisat Dergisi is an open access, peer-reviewed, scholarly journal published two times a year in June and December. It has been an official publication of Istanbul University Faculty of Economics since 1939. The manuscripts submitted for publication in the journal must be scientific and original work in Turkish or English. Being one of the earliest peer-reviewed academic journals in Turkey in the area of economics, Istanbul Journal of Economics-İstanbul İktisat Dergisi aims to provide a forum for exploring issues in basicly economics and publish both disciplinary and multidisciplinary articles. Economics is the main scope of the journal. However, multidisciplinary and comparative approaches are encouraged as well and articles from various social science areas such as sociology of economics, history, social policy, international relations, financial studies are welcomed in this regard. The target group of the journal consists of academicians, researchers, professionals, students, related professional and academic bodies and institutions.
Topic:: Economics, Islam, Religion, Communications, Natural Resources, Finance, Internet, Economic Growth, Macroeconomics, Currency, Unemployment, Sustainability, COVID-19, BRICS, Labor Market, Economic Stability, Consumer Behavior, Rent-seeking, Energy, and Wages
Political Geography:: Europe, Turkey, and Asia

13. Estados Unidos y África. Historia de una no-política

Author:: Pablo Rey-García and Pedro Rivas Nieto
Publication Date:: 10-2022
Content Type:: Journal Article
Journal:: Revista UNISCI/UNISCI Journal
Institution:: Unidad de investigación sobre seguridad y cooperación (UNISCI)
Abstract:: En este artículo se estudian las relaciones entre Estados Unidos y África, desde los puntos de vista económico, político y de seguridad. Son, estos tres campos, interdependientes, pero a la vez enormemente dinámicos, tanto por la inercia política estadounidense, como por los condicionantes propios de África (déficit en desarrollo, pobreza, inseguridad o inestabilidad política) como por el contexto internacional. En este último aspecto, cobra especial relevancia la invasión rusa de Ucrania o la emergencia de la ambición militar China, pues ambos países compiten con Estados Unidos por tener una mejor posición en el continente africano.
Topic:: International Relations, Development, Economics, National Security, and Terrorism
Political Geography:: Africa, Russia, China, Asia, North America, Sahel, United States of America, and Horn of Africa

14. Mine Action and the Environment in Karabakh

Author:: Emil Hasanov
Publication Date:: 04-2022
Content Type:: Journal Article
Journal:: Baku Dialogues
Institution:: ADA University
Abstract:: The now‑liberated areas of Azerbaijan are contaminated by mines and explosive remnants of war (ERW), the clearance thereof being one of Baku’s highest post‑conflict priorities. Before proceeding any further, we must provide proper definitions of these terms, since they are technical in nature and thus may not be familiar to the general reader. According to the Convention on the Prohibition of the Use, Stockpiling, Production and Transfer of Anti‑Personnel Mines and on Their Destruction that was adopted in Oslo in 1997 and entered into force in 1999 (it is colloquially called the AntiPersonnel Mine Ban Convention, or APMBC), an anti‑personnel mine “means a mine designed to be exploded by the presence, proximity or contact of a person and that will incapacitate, injure or kill one or more persons.” An antivehicle or antitank mine is effectually the same thing, except that it is designed to explode when triggered by a vehicle. Together, they fall under the catchall term mine, which the same document defines as a “munition designed to be placed under, on, or near the ground or other surface area and to be exploded by the presence, proximity, or contact of a person or a vehicle.” Furthermore, explosive remnants of war (ERW) are defined as explosive munitions left behind after a conflict has ended. They include unexploded artillery shells, grenades, mortars, rockets, air‑dropped bombs, and cluster munitions. If such weapons fail to detonate as intended for whatever reason, they are called unexploded ordnance (UXO); if, on the other hand, they have not been used during an armed conflict and have been left behind by the party that brought them to the battlefield, they are called abandoned explosive ordnance (AXO). Lastly, cluster bombs or cluster munitions, which are defined as weapons containing from several to hundreds of explosive submunitions. They are dropped either from the air or fired from the ground and are designed to break open in mid‑air, releasing submunitions and saturating an area that can be as wide as several football pitches. Based on past practice, the failure rate of cluster munitions to explode as intended stands at between 10 and 30 percent.
Topic:: Climate Change, Economics, Environment, Mining, and Recovery
Political Geography:: Central Asia, Asia, and Azerbaijan

15. Social Credit System in the People’s Republic of China. Theoretical Assumption and Implementation

Author:: Maciej Walkowski
Publication Date:: 09-2022
Content Type:: Journal Article
Journal:: Polish Political Science Yearbook
Institution:: Polish Political Science Association (PPSA)
Abstract:: In the European Union, the United States and other countries of the so-called Western world, the perception of the functionalities of AI, and other instruments of Industrial Revolution 4.0 significantly differs from its perception by the PRC’s authorities, which – for a few years – have been implementing solutions aimed at comprehensive scrutiny and social supervision rather than facilitating life and work. This idea has been reflected in the so-called Social Credit System since at least 2014 and has given rise to plenty of controversies and disputes, unfortunately based on emotions and imprecise interpretation of the characteristics, aims, and implementation of the project rather than knowledge. While the new, digital model of social management in China is extensively discussed in the literature, it is rarely addressed in Polish studies, which results in the scarcity of publications on this subject. This paper attempts to fill this gap by presenting the essence of the system and the progress of its implementation.
Topic:: Economics, Hegemony, Artificial Intelligence, and Credit
Political Geography:: China and Asia

16. Pak-China Geostrategic Interdependence: Impact on Rising Economies of Asia

Author:: Ameena Nasim
Publication Date:: 01-2022
Content Type:: Journal Article
Journal:: South Asian Studies
Institution:: Department of Political Science, University of the Punjab
Abstract:: China and Pakistan have enjoyed a close and mutually beneficial relationship during the last seven decades. Both the nations‘ leadership pronounced the bilateral relationship between China and Pakistan as the ―All-Weather Strategic Cooperative Partnership‖ and ―Iron Brother.‖ The strategic partnership between China and Pakistan has a significant impact on the Asian strategic environment in particular and global politics. The Indian strategic enclave regards China-Pakistan‘s multifaceted relationship as a substantial obstacle for India‘s rise as a Great Power within the regional context. The study‘s primary objective is to critically examine impact on Asia‘s main actors such as India and Russia. So that one can profess about the dynamics of this relationship and implications of China and Pakistan‘s geo-strategic relations on the rising economies. A qualitative study with qualitative interviews and thematic analysis was applied to conduct this study. The analysis reveals that South Asian RSC has no change in the patterns of amity and enmity. The region continues to be conflictive, where their enduring rivalry and continued distrust shape enmity patterns between Pakistan and India. On the contrary, Pakistan and China‘s amity patterns can be seen growing in the longstanding strategic relationship and deep-rooted cooperation. The investigation discovers that on a bilateral level, several new factors in the post-9/11 era have molded Pakistan-China Strategic relations, which have intricate linkages with the regional and global security complexion.
Topic:: Economics, Bilateral Relations, Strategic Interests, Interdependence, and Regional Politics
Political Geography:: Pakistan, Russia, China, South Asia, and Asia

17. Assessing the Effects of Trade Liberalization With Third Countries: The Case of the Eurasian Economic Union

Author:: Simon Sngryan
Publication Date:: 06-2022
Content Type:: Journal Article
Journal:: Journal of Liberty and International Affairs
Institution:: Institute for Research and European Studies (IRES)
Abstract:: The processes of objectively conditioned integration in the economic, political, legal, and institutional spheres of the Eurasian Economic Union (EEU) Member States took place step by step, starting from preferential trade agreements, passing to the customs union, the common market and other stages of integration. This process is accompanied by the gradual deepening of trade liberalization with potential partners. The selection of potential partners should be carried out through a comprehensive and detailed analysis of the structure and volumes of foreign trade of the EEU Member States (Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia) with third parties, their markets structure, existing customs regulation, trade barriers, and possible export potential. The research evaluated the EEU's possible enlargement effects on the Member States' economic indicators. The research aimed to assess the possible consequences of EEU expansion and signing free trade agreements, considering Pakistan, Korea, and Malaysia as potential trade partners. Modeling the effect of an FTA assumes horizontal zeroing of tariffs between partners. Then, using the GTAP model, a new state of general equilibrium was calculated corresponding to the changed parameters of customs and tariff regulation. In this case, most variables, such as change in GDP, production output, and export-import volumes, were estimated, manifesting the economic effect of trade liberalization.
Topic:: Economics, International Trade and Finance, Regional Cooperation, and Trade Liberalization
Political Geography:: Europe, Eurasia, and Asia

18. COVID-19, Supply Chains, and Dependence on China: The Indian Perspective

Author:: Amitendu Palit
Publication Date:: 07-2021
Content Type:: Journal Article
Journal:: Joint U.S.-Korea Academic Studies
Institution:: Korea Economic Institute of America (KEI)
Abstract:: China is India’s largest source of imports, nearly 15 percent of which are sourced from China. Many of India’s major imports—electrical machinery, electronic and semiconductor devices, fertilizers, antibiotics, iron and steel products, and vehicular parts—are extensively sourced from China. The outbreak of the COVID-19 pandemic highlighted the critical dependence of India’s pharmaceutical industry on China for active pharmaceutical ingredients (APIs). The dependence on China for both intermediate and finished products, has encouraged India to incentivize greater production at home through production-linked-incentives (PLIs) and to work with Japan and Australia on reorganizing regional supply chains. The paper examines the repositioning of supply chains in the strategic industry of pharmaceuticals. Efforts to reduce dependence on China assume great importance in this regard as India strives to become the leading supplier of affordable vaccines for tackling COVID-19.) The decade of the 2020’s has begun with India embarking on the dedicated mission of reducing import dependence and increasing self-reliance. The COVID-19 pandemic has starkly exposed the frailties of supply chains relying heavily on China. For India, which relies extensively on China for several critical imports, no sector is more vulnerable to disruptions from over-dependence than its pharmaceuticals. India’s reputation as the “pharmacy of the world” drawn from its great proficiency in making affordable pharmaceutical formulations and vaccines, relies fundamentally on sourcing essential drug intermediates from China. As one of the leading actors in the world’s fight against COVID-19, India is wary of sourcing disruptions from China affecting its ability to contribute to expanding global health security. After focusing on the import dependence of India’s pharmaceutical industry on China, this paper analyzes the recent initiatives announced by India for increasing economic self-reliance and reducing such dependence. It concludes by reflecting on the prospects of India decoupling from China in sourcing pharmaceutical ingredients.
Topic:: Economics, COVID-19, Imports, and Supply Chains
Political Geography:: China, South Asia, India, and Asia

19. Taiwan’s Shifting Role in the Global Supply Chain in the U.S.- China Trade War

Author:: Jinji Chen, Hong-yu Lin, and Yi-ting Lien
Publication Date:: 07-2021
Content Type:: Journal Article
Journal:: Joint U.S.-Korea Academic Studies
Institution:: Korea Economic Institute of America (KEI)
Abstract:: The U.S.-China trade war and the pandemic have had a profound impact on cross-border supply chains. In the past few years of U.S.-China tensions, China has been accused of engaging in unfair competition by abusing its national power, from trade and technology to COVID-19 responses. Amid such accusations, some countries have been stepping back from cooperating with China due to national security concerns. As the lockdowns have further disrupted value chains and highlighted the vulnerability of global supply chains, enhancing supply chain resilience has now become a national imperative for the U.S., Japan, and other countries, with an emphasis on strengthening their production capabilities in the semiconductor and medical care industries.
Topic:: Economics, National Security, Trade Wars, and Supply Chains
Political Geography:: China, Taiwan, Asia, North America, and United States of America

20. The Pandemic’s Impact on Supply Chains from China and their Evolution: The View from South Korea

Author:: Jin Kyo Suh
Publication Date:: 07-2021
Content Type:: Journal Article
Journal:: Joint U.S.-Korea Academic Studies
Institution:: Korea Economic Institute of America (KEI)
Abstract:: Today’s global economy is highly interconnected and interdependent. Supply chains across the world are finely tuned to deliver parts just when they are needed, so that companies and industries do not need to waste money on maintaining big warehouses. The economic system runs with remarkable efficiency, and companies are able to keep inventory to a minimum. However, firms have started rethinking their supply chains in response to changing labor costs, advances in automation, rising protectionism, and external shocks, such as natural disasters. In particular, the COVID-19 pandemic has revealed the structural fragility of current global supply chains and has forced many global enterprises to fundamentally reconsider their approach to global manufacturing and sourcing. The crisis has also highlighted geopolitical tensions, trade restrictions, and nationalist politics aimed at promoting a country’s domestic industries, which are likely to continue reshaping the global business landscape. As a consequence, most global enterprises are going to be under greater political and competitive pressure to increase their domestic production, grow employment in their home countries, and rethink their use of lean manufacturing strategies that involve minimizing the amount of inventory held in their global supply chains. Previously, supply chains were designed to keep costs low and inventories lean. However, supply chains are now being reworked to reduce the risks of future disruption even if doing so means incurring additional costs. Because China is decidedly the world’s largest goods exporter and is also currently mired in a trade conflict with the United States, supply chains going through China may be among the most vulnerable to future disruptions. Hyundai, South Korea’s largest automaker, temporarily stopped production lines at its factories in South Korea because of shortages of Chinese parts. The Hyundai shutdown—encompassing the first factory lines to be idled outside China—could foreshadow considerably more serious disruptions in the complex networks that supply automakers with essential components and materials (Automakers are especially susceptible to interruptions in the flow of goods because the industry is global, and cars are complex products with a myriad of precision parts). Recognizing the risk that dependency on China poses to national industries, some governments have offered manufacturers incentives to exit China and ease the pain of diversification. For example, Japan put $2.2 billion of its COVID-19 economic stimulus package into supporting its manufacturers moving toward shifting production outside of China. There was also mounting public pressure in some countries, such as the United States, to move essential production of pharmaceuticals and medical equipment out of China and closer to home. It is, however, not that simple to reduce global supply chain reliance on China: the nation still retains not only considerable comparative advantages in many areas (e.g. electronics, machinery, and equipment manufacturing), but also enormous purchasing power as the world’s second largest market. Even those companies that have diversified production are finding it hard to break free of China’s pervasive influence. Anticipating a rise in tariffs due to the U.S.-China trade conflict, videogame producer Nintendo shifted the manufacturing of its blockbuster gaming console called Switch to Vietnam in 2019. There was, however, a shortage of Switch consoles in stores in early 2020 due to a lack of essential components flowing to the company’s Vietnamese factories, as COVID-19 paused production of component parts by Chinese suppliers. In addition, most businesses have developed complex interdependencies, resulting in a deep tiering of supply chains. Many manufacturers depend on first-tier suppliers which, in turn, rely on a second-tier, and so on. Therefore, relocating factories or replacing all Chinese suppliers would be infeasible in the short-term. This chapter reviews the impact of supply chain disruption caused by COVID-19 on the South Korean economy and examines the future of regional supply chains centered on China. The rest of the paper is structured as follows. How supply chain disruption caused by COVID-19 will affect the South Korean economy, including trade, is discussed in Section 2. According to the latest national GDP report by the Bank of Korea (BOK), South Korea is going to see a mere 1 percent GDP contraction for 2020, the second-best performance among major economies behind only China. Reasons for why the South Korean economy was not seriously affected by the pandemic are also discussed in Section 2. Section 3 highlights the difficulty of reducing global supply chain reliance on China. China is likely to remain a key player, and the world must look at the reality that global supply chains are highly interconnected with China and that disconnecting from China’s supply chain is not an easy economic task for many multinational companies. The final section offers a few concluding remarks on deepening regionalism specifically in Asia, including policy implications for South Korea.
Topic:: Economics, COVID-19, and Supply Chains
Political Geography:: China, Asia, and South Korea

21. The Future of U.S. Supply Chains: National Security and the Pandemic

Author:: Troy Stangarone
Publication Date:: 07-2021
Content Type:: Journal Article
Journal:: Joint U.S.-Korea Academic Studies
Institution:: Korea Economic Institute of America (KEI)
Abstract:: The COVID-19 pandemic has been the most significant economic disruption to the international economy since the Great Depression. The IMF estimates that the global economy contracted by 3.5 percent last year, while the WTO has projected a 5.3 percent decline in global trade. The economic impact on the United States has been significant as well. Early in the pandemic the United States experienced shortages of critical medical supplies and products, while the need to social distance has continued to place restrictions on the overall economy. For 2020, the pandemic saw GDP decline by 2.3 percent, while exports fell by 12.9 percent and imports by 6.4 percent. All of this has resulted an increased focus on supply chains and their vulnerabilities.
Topic:: Economics, National Security, COVID-19, and Supply Chains
Political Geography:: China, Asia, North America, and United States of America

22. The Big Squeeze: Japanese Supply Chains and Great Power Competition

Author:: Mireya Solis
Publication Date:: 07-2021
Content Type:: Journal Article
Journal:: Joint U.S.-Korea Academic Studies
Institution:: Korea Economic Institute of America (KEI)
Abstract:: Japan led, and was transformed, by the global supply chain revolution. Facing growing protectionism in industrialized markets and reeling from sharp yen appreciation in the aftermath of the 1985 Plaza Accord, Japanese firms responded with a drastic increase in their overseas investment activities. In so doing, many of these companies spearheaded the movement towards the fragmentation of production across national boundaries that sought efficiency gains by pooling the competitive advantages of different locations. Japan’s experience with the first supply chain revolution was transformative. It altered its export-led model with important implications for its foreign policy. Japanese investments in the United States helped abate trade frictions; integrated production was at the heart of the project to rebuild relations with China, and Japan’s lead as foreign investor in Southeast Asia has been a pillar of its blueprint for regional integration. The strains in the rules-based international trade order, however, have raised questions about the ability of global supply chains to continue to operate effectively. The U.S.-China geopolitical rivalry has manifested in a damaging trade war, and moves to restrict tech flows are creating decoupling pressures. The COVID-19 pandemic has exacerbated these trends with lockdowns that disrupt supply chains while export protectionism and calls to renationalize production are on the rise. The intensified risk environment could lead to a second supply chain revolution with a greater emphasis on redundancy and diversification and bifurcation of productive chains. How will Japan respond to the challenges to international production, a central engine of its economic prosperity, and with what consequences for its relations with major powers? To provide greater clarity on this overarching question, this paper is organized as follows. Section 1 describes the central role of Japanese firms in the emergence and deepening of regional production networks. Although Japan’s overall share of intra-regional trade has decreased in the 21st century—in tandem with China’s rise as regional hub- Japanese firms have retained their central role in GVCs (Global Value Chains) through their advanced manufacturing capabilities. Section 2 offers a glimpse of past and recent supply chain shocks—China’s embargo of rare earth metals, the Great East Japan Earthquake in Tohoku, and the Japan-Korea export control dispute—to illustrate both sources of vulnerability and resilience of Japanese GVCs. Section 3 assesses the systemic shift brought about by revived great power competition, and identifies some early adjustment responses from Japanese firms to a new normal of heightened geopolitical tension.
Topic:: Economics, Strategic Competition, and Supply Chains
Political Geography:: Japan, China, and Asia

23. Georgia After the Second Karabakh War

Author:: Mamuka Tsereteli
Publication Date:: 08-2021
Content Type:: Journal Article
Journal:: Baku Dialogues
Institution:: ADA University
Abstract:: The outcome of the Second Karabakh War between Azerbaijan and Armenia significantly transformed the geopolitical reality in the South Caucasus, with implications for the wider Black Sea‑Caspian region. The unsettled political geography of the South Caucasus and the ethno‑political separatism fueled by external actors since the early 1990s left bleeding wounds on the bodies of the newly re‑emerged sovereign states of Armenia, Azerbaijan, and Georgia. These conflicts have determined the trajectory of the geopolitical developments of the region for the last 30 years, including on the foreign policy orientations of these new states. The conflicts in the South Caucasus were the primary challenge for transforming the strategic assets of this region into greater political and economic success. Three major conflict areas in the South Caucasus were former autonomous regions, created in the early Soviet period: Nagorno‑Karabakh, Abkhazia, and the Tskhinvali region, what was called South Ossetia. (Briefly: the latter term was introduced by the Soviets in the 1920s as a name for the newly created autonomous area in Georgia, populated by Ossetians alongside ethnic Georgians. The historic homeland of Ossetians is located to the north of the Greater Caucasus mountains. Following the Soviet tradition of planting ethno‑political time bombs, Ossetia proper—located in the Russian Federation—was named North Ossetia, while the Tskhinvali region of Georgia—with the Ossetian population at the time concentrated in the border areas with Russia—was named South Ossetia.) As of today, all three of these areas are self‑proclaimed independent states, are formally ruled by de facto governments, and saw fierce military confrontation in the early 1990s. In 2008, the Tskhinvali region became the battleground between Russian and Georgian forces. In 2020, Azerbaijan regained through a combination of military action and diplomatic brinksmanship all seven regions outside of Nagorno‑ Karabakh that had been occupied by Armenia, as well as one‑third of the former Nagorno‑Karabakh region. In the case of Abkhazia and the Tskhinvali region/South Ossetia, as of mid‑2021, these territories remain, in reality, governed by Russian occupational forces. The Russian military influence was inserted into Karabakh after the war that ended on November 10th, 2020, with Russian peacekeepers playing an increasing role in the governance of the region. In terms of geopolitical orientation, Armenia willingly allowed Russian troops onto its territory, seeing them as a security guarantee and deterrent against Azerbaijan. Georgia aligned itself with the Western powers, determined to join NATO and the EU. The conflicts on Georgian territory are seen as punishment from Russia for Georgia’s pro‑Western focus. As a result, there has been a heavy Russian military presence in the separatist areas of Georgia since the Russian invasion to Georgia in 2008.
Topic:: Security, Economics, Military Strategy, Conflict, and Peace
Political Geography:: Europe, Asia, Armenia, Azerbaijan, and Georgia

24. The China-Pakistan Economic Corridor

Author:: Ali Haider Saleem and Arhama Siddiqa
Publication Date:: 08-2021
Content Type:: Journal Article
Journal:: Baku Dialogues
Institution:: ADA University
Abstract:: The term Silk Road is used by scholars to describe a network of trading posts and markets linking East Asia to the Mediterranean. In terms of geographical context, the editors of Baku Dialogues define the region as the “geographic space looking west past Anatolia to the warm seas beyond; north across the Caspian towards the Great Plain and the Great Steppe; east to the peaks of the Altai and the arid sands of the Taklamakan; and south towards the Hindu Kush and the Indus valley, looping down around in the direction of the Persian Gulf and across the Fertile Crescent.” States falling under this parasol include China, Pakistan, Iran, Turkey, the five Central Asian republics, Azerbaijan, and Russia. China’s Belt and Road Initiative (BRI), which traverses several continents, is a long‑term, strategic investment plan with the objective of facilitating economic integration of countries in line with the historic Silk Road. In April 2015, China’s President, Xi Jinping announced the China‑Pakistan Economic Corridor (CPEC), which amounts to BRI’s flagship project. This enterprise, which encompasses road, rail, and oil pipeline links, will help Beijing advance its influence across South and Central Asia.
Topic:: Economics, International Cooperation, International Trade and Finance, Bilateral Relations, Infrastructure, and Silk Road
Political Geography:: Pakistan, China, and Asia

25. Economic Sanctions as a Tool of China’s Hybrid Strategies

Author:: Rafal Wisniewski
Publication Date:: 01-2021
Content Type:: Journal Article
Journal:: Polish Political Science Yearbook
Institution:: Polish Political Science Association (PPSA)
Abstract:: The article aims to analyze the role of economic sanctions in the People’s Republic of China’s overall approach to achieving its security objectives in the international arena. During the last two decades, Beijing used this instrument on numerous occasions to exert pressure on a varied group of actors. China’s current strategy toward a range of disputes and conflicts it is engaged in (the South China Sea territorial disputes most prominently stand out) is often described using the popular vocabulary of “hybrid warfare” or “grey zone conflicts”. Putting the conceptual complications aside, the author agrees that the PRC’s approach can be viewed as part of a growing trend for great powers to employ what can be called “hybrid strategies” toward its opponents. As part of a broader category of economic statecraft, economic sanctions form an important element of this approach. Considering current scholarship on both “hybrid” (or “grey area”) warfare and economic sanctions, the article answers the question of why the PRC increasingly resorts to hybrid strategies (including economic coercion) and identifies the main characteristics of Chinese economic sanctions. It also provides preliminary conclusions on their effectiveness.
Topic:: Diplomacy, Economics, Territorial Disputes, and Sanctions
Political Geography:: China, Asia, and South China Sea

26. China's Belt and Road Initiative and Georgia: A Short Overview

Author:: Ekaterine Lomia
Publication Date:: 09-2021
Content Type:: Journal Article
Journal:: Journal of Liberty and International Affairs
Institution:: Institute for Research and European Studies (IRES)
Abstract:: Since the beginning of the 2000s, China has embarked on an unprecedented path of economic development, as evidence of which is the largest economic project of the XXI century initiated by the People's Republic of China. The global Belt and Road Initiative announced by the first person of the country, Xi Jinping, is a shortened name of the ‘Silk Road Economic Belt’ and ‘XXI Century Maritime Silk Road’. It covers the Asia-Pacific, Europe, Central Asia, Southeast Asia, West Asia, and Africa and involves more than a hundred countries, international organizations, and leading economic actors. The main participants in the project are China, Mongolia, Russia, Azerbaijan, Belarus, Poland, Germany, the Netherlands, Kazakhstan, Kyrgyzstan, Pakistan, Bangladesh, Iran, and India. The article reviews the role of the Chinese project in a global context. The paper focuses on the role and purpose of Georgia in the Belt and Road Initiative. This study will try to reveal the results for the benefit of Georgia, which is one of the participating countries, and the role of China through research to be made from documents and academic studies on the subject. Georgia tries to conduct its relations with China, as a partner in the project, with a policy of balance without disturbing its relations with the West.
Topic:: Economics, Bilateral Relations, Infrastructure, Hegemony, and Belt and Road Initiative (BRI)
Political Geography:: China, Europe, Asia, and Georgia

27. Chinese Investments in Brazil: Economic Diplomacy in Bilateral Relations

Author:: Virginia Soledad Busilli and Maria Belen Jaime
Publication Date:: 09-2021
Content Type:: Journal Article
Journal:: Contexto Internacional
Institution:: Institute of International Relations, Pontifical Catholic University of Rio de Janeiro
Abstract:: The People’s Republic of China has consolidated its status as a great power and strengthened its presence in different regions of the planet. In accordance with its economic development strategy, Beijing’s growing bond with Latin America is part of China’s need to guarantee access to raw materials and energy resources. In this framework and through economic diplomacy, China has strengthened its trade relations, as well as loans and investments in most of the region’s countries.Brazil is an example of this relationship pattern, as one of China’s most important partners and top investment destination in Latin America. It became Beijing’s top commercial partner in 2012. This paper will analyse the composition and evolution of Chinese foreign direct investment (FDI) in Brazil between the years of 2004 and 2020. In order to do so, we will study the main projects carried out by the country, as well as the characteristics of the Chinese companies (state or non-state) that participated in the process, in order to understand their most important features. Likewise, we will analyse the articulation of the Chinese FDI with its trade flows. We will start from the premise that Chinese investments in Brazil are directly linked to Beijing’s strategic interests, while at the same time guided by market logics that try to maximise profits. In this vein, within the framework of the ‘going out strategy’,state companies play a fundamental role.
Topic:: Diplomacy, Economics, Bilateral Relations, and Hegemony
Political Geography:: China, Asia, Brazil, and South America

28. Medical Security, Covid Challenge and the U.S. - Japan Alliance

Author:: Kent Calder
Publication Date:: 12-2021
Content Type:: Journal Article
Journal:: Fletcher Security Review
Institution:: The Fletcher School, Tufts University
Abstract:: National security has been classically conceived as a narrowly military and state-centric concept, especially in the Western industrial world. Security is, generations of strategists and statesmen have told us, a matter of defending core nation-state values and interests by force of arms. Two world wars across the first half of the twentieth century, and a long nuclear confrontation to follow, engrained this military and state-centric conception deeply into global consciousness and public discourse. The tragic COVID-19 crisis now confronting us suggests that this logic may be flawed, or at least oversimplified. Over 2.3 million people worldwide died in the first year of this global pandemic, with well over 100 million infected. These figures are likely understated.44 Untold millions of people continue to suffer from “long COVID” maladies around the world.
Topic:: Economics, Health, National Security, COVID-19, and Health Crisis
Political Geography:: Japan, Asia, North America, and United States of America

29. Foreign Direct Investment, Gross Domestic Product, and Export Nexus in Turkey: Autoregressive Distributed Lag Bounds Model and Granger Causality Approach

Author:: Bayram Gungor
Publication Date:: 01-2021
Content Type:: Journal Article
Journal:: The Rest: Journal of Politics and Development
Institution:: Centre for Strategic Research and Analysis (CESRAN)
Abstract:: The relationship among the FDI, GDP and Export has gained vast attention among the researchers and policy-makers. There are many studies on the interaction of these variables using various econometric approaches in the literature. However, it has seen that the findings have been different from country by country. Therefore, this study's main problematic is to estimate the coefficients that show the interaction among the FDI, GDP and Export covering 1980-2019 in Turkey. The ARDL Bounds Model and Granger Causality approach were selected to measure the coefficients statistically. Three models were executed to calculate the short-run and long-run coefficients. While the Model 1 and Model 3 were found statistically significant to explain the dependent variables, the Model 2 was found statistically insignificant. Because of this, the Model 2 was excluded from the study. The short- run coefficients were also found statistically significant to explain the dependent variables of the Model 1 and Model 3. While GDP affects the FDI positively in Model 1, GDP affects the Export negatively in Model 2. The ECT was found statistically significant at 0.01. The speeds of adjustment of the Model 1 and Model 3 were calculated as approximately 93% and 16% levels, respectively. Unlike the ARDL Bounds Model, the Granger Causality test was implemented to measure the variables' causal relationship. It was seen that there is only a unidirectional Granger causal relationship running from GDP to FDI in the Model 1 and from GDP to Export in the Model 2.
Topic:: Economics, Foreign Direct Investment, GDP, and Exports
Political Geography:: Europe, Turkey, and Asia

30. U.S. Trade Policy toward China: Learning the Right Lessons

Author:: Scott Lincicome
Publication Date:: 01-2021
Content Type:: Journal Article
Journal:: The Cato Journal
Institution:: The Cato Institute
Abstract:: Labor market and cultural disruptions in the United States are real and important, as is China’s current and unfortunate turn toward illiberalism and empire. But pretending today that there was a better trade policy choice in 2000—when Congress granted China “permanent normal trade relations” (PNTR) status and paved the way for broader engagement—is misguided. It assumes too much, ignores too much, and demands too much. Worse, it could lead to truly bad governance: increasing U.S. protectionism; forgiving the real and important failures of our policymakers, CEOs, and unions over the last two decades; and preventing a political consensus for real policy solutions. Indeed, that is happening now.
Topic:: International Relations, Economics, Markets, Bilateral Relations, Trade, and Protectionism
Political Geography:: China, Asia, North America, and United States of America

31. Financial Development in Hong Kong and China: A Hayekian Perspective

Author:: Kam Hon Chu
Publication Date:: 01-2021
Content Type:: Journal Article
Journal:: The Cato Journal
Institution:: The Cato Institute
Abstract:: In addition to foreign investment absorption, Hong Kong plays a pioneering role in the internationalization of the renminbi (RMB). Despite the lack of comprehensive statistics on the volume of offshore RMB transactions, Hong Kong is for sure one of the largest, if not the largest, global centers for offshore RMB businesses. According to the Triennial Central Bank Survey (BIS 2019), for instance, Hong Kong was the largest global offshore RMB foreign exchange market, with an average daily turnover of US$107.6 billion as of April 2019, considerably higher than the US$56.7 billion for London and the US$42.6 billion for Singapore.
Topic:: Economics, Markets, Investment, and Financial Development
Political Geography:: China, Asia, and Hong Kong

32. Promise and Peril of Digital Money in China

Author:: Martin Chorzempa
Publication Date:: 06-2021
Content Type:: Journal Article
Journal:: The Cato Journal
Institution:: The Cato Institute
Abstract:: Digital currency and fintech have been some of the most powerful forces for freedom and personal liberty in China for the past decade, but their future influence is uncertain. Starting as a disruptive force that gave Chinese unprecedented autonomy in their financial lives, connected either to global cryptocurrency networks or local tech ecosystems built by private firms, a new chapter is beginning. In this new era, one speech urging an emphasis on innovation instead of regulation can seemingly bring the full force of the Chinese state to bear onto a firm that once disrupted state banks with impunity. Technologies like blockchain first embraced by libertarians and cryptography enthusiasts as freeing money from dependence on the state look poised to become tools for governments to increase their ability to monitor and shape financial transactions. Meanwhile, disruptive fintech tools have become symbiotic with the major state banks, which will retain their role as the core of the financial system.
Topic:: Economics, Science and Technology, Finance, Digital Currency, and Transactions
Political Geography:: China and Asia

33. Volume 71 Issue 2

Author:: Gökhan Karabulut
Publication Date:: 01-2021
Content Type:: Journal Article
Journal:: Istanbul Journal of Economics
Institution:: Istanbul University Faculty of Economics
Abstract:: Istanbul Journal of Economics-İstanbul İktisat Dergisi is an open access, peer-reviewed, scholarly journal published two times a year in June and December. It has been an official publication of Istanbul University Faculty of Economics since 1939. The manuscripts submitted for publication in the journal must be scientific and original work in Turkish or English. Being one of the earliest peer-reviewed academic journals in Turkey in the area of economics, Istanbul Journal of Economics-İstanbul İktisat Dergisi aims to provide a forum for exploring issues in basicly economics and publish both disciplinary and multidisciplinary articles. Economics is the main scope of the journal. However, multidisciplinary and comparative approaches are encouraged as well and articles from various social science areas such as sociology of economics, history, social policy, international relations, financial studies are welcomed in this regard. The target group of the journal consists of academicians, researchers, professionals, students, related professional and academic bodies and institutions.
Topic:: Economics, Globalization, International Trade and Finance, Oil, Political Economy, Natural Resources, Exchange Rate Policy, and Industry
Political Geography:: Europe, Turkey, and Asia

34. An Overview of Agricultural Support Policies in Turkey: A Comparative Regional Analysis

Author:: Hakan Uslu
Publication Date:: 12-2021
Content Type:: Journal Article
Journal:: The Rest: Journal of Politics and Development
Institution:: Centre for Strategic Research and Analysis (CESRAN)
Abstract:: The agricultural sector is seriously affected by changes in many economic, social, or environmental factors. Hence, the necessity of supporting the sector by governments in various ways has become an indisputable reality. However, regional characteristics must be taken into account in order for these supports to reach their goals. Using a dataset spanning from 2002 to 2020, the current study comparatively analyses the changes in the agricultural support and agricultural production, income, and the value of products in two agricultural regions of Turkey, Central Anatolia and Southeast Anatolia regions. The results highlight that the increase in agricultural income is very low in both regions compared to the substantial changes in agricultural support policies. Additionally, the increase in the values of agricultural products in both regions is much higher than the increase in agricultural income, suggesting that the costs in agricultural activities are too high in the analysed regions.
Topic:: Agriculture, Economics, Environment, Governance, and Rural
Political Geography:: Europe, Turkey, and Asia

35. The Functions and Problems of China’s State-Owned Economy

Author:: Wei-xiao Jia
Publication Date:: 01-2020
Content Type:: Journal Article
Journal:: Polish Political Science Yearbook
Institution:: Polish Political Science Association (PPSA)
Abstract:: At the national symposium on the reform of state-owned enterprises, General Secretary Xi Jinping gave important instructions that state-owned enterprises are important forces in strengthening the country’s overall strength and safeguarding the common interests of the people. Therefore, the country must make state-owned enterprises „stronger, better, and bigger”. Huge objections arose in the academic field. This article thoroughly analyzes China’s state-owned economy from the perspective of Marx’s historical materialism, national productivity, and social development, and clarifies the historical status and role of China’s state-owned economy. At the same time, this article comprehensively analyzes the economic significance of making state-owned enterprises „stronger, better, and bigger” from the perspective of total factor productivity, and proposes that since the state-owned economy is backed up by the state, investing in technology research and development has its advantages. However, because the state-owned economy is biased toward administrative instructions, it often lacks efficiency, so if the state-owned economy wants to become „stronger, better, and bigger”, it must undergo reforms in terms of management efficiency.
Topic:: Economics, Governance, Reform, State Building, State-Owned Enterprises, and Productivity
Political Geography:: China and Asia

36. The Future of Chinese Foreign Economic Policy Will Challenge U.S. Interests, Part 1: The Belt-and-Road Initiative and the Middle Income Trap

Author:: Sagatom Saha
Publication Date:: 01-2020
Content Type:: Journal Article
Journal:: China Brief
Institution:: The Jamestown Foundation
Abstract:: Chinese Communist Party (CCP) General Secretary Xi Jinping and other senior CCP leaders have prudently planned for the slowing economic growth that China now faces. CCP officials plan to transition China from its current export-led growth model to one driven by indigenous innovation, and one in which China’s rising global prominence confers to it many of the same advantages traditionally enjoyed by the United States (such as low borrowing costs and influence within international institutions). Although U.S.-China relations have become further fraught amid the trade war, many prominent China hands nevertheless assert that Beijing’s long-term economic plans do not run counter to U.S. strategic interests. [1] However, many of China’s planned foreign economic initiatives—to include the Belt and Road Initiative (BRI), global value chain advancement, and renminbi (RMB) internationalization—will come at U.S. expense. Policymakers in both Washington and Beijing should accordingly expect U.S.-China tensions to persist beyond the Trump administration. China’s need for new growth vehicles is twofold: its economic size has not translated into global influence, and its current economic model is losing steam. First, China’s transformation into the world’s second-largest economy has yet to yield equivalent influence in the international system. Beijing’s sway in the World Bank and the International Monetary Fund (IMF), for example, lag behind China’s status as the largest trade partner and foreign investor for much of the world. The United States, by contrast, has leveraged its economic status to maintain effective control of the Bretton-Woods institutions, to obtain low borrowing costs, and to exercise punishing sanctions programs against unfriendly governments. Second, Chinese growth has seen a secular decline over the last decade (see figure 1). The official projected GDP growth rate for 2020 is 6.1 percent (Xinhua, November 30, 2019), but some Chinese officials have hinted that they expect lower sub-6 percent growth in 2020 (South China Morning Post, November 14, 2019). This is a noteworthy signal, for CCP discourse has previously identified the benchmark of 6 percent GDP growth as necessary to avoid social unrest (China Brief, March 22, 2019).
Topic:: Foreign Policy, Economics, International Cooperation, International Trade and Finance, Hegemony, Conflict, and Rivalry
Political Geography:: China, Middle East, Asia, North America, and United States of America

37. The Future of Chinese Foreign Economic Policy Will Challenge U.S. Interests, Part 2: Renminbi Internationalization and International Economic Institutions

Author:: Sagatom Saha
Publication Date:: 02-2020
Content Type:: Journal Article
Journal:: China Brief
Institution:: The Jamestown Foundation
Abstract:: Complications surrounding the Belt and Road Initiative (BRI), and the dangers of the “middle-income trap,” are not the only factors impacting the international economic policies of the People’s Republic of China (PRC). Furthermore, poor capital efficiency is not the only feature of the Chinese economy that frustrates the country’s policymakers. China’s gross domestic product (GDP) has roughly doubled in the last decade, but Beijing’s pull in the international monetary and financial system remains lackluster. This lack of progress stems in part from the dollar’s centrality around the world, as well as U.S. dominance in international economic institutions. Beijing’s economic planners have long advocated against the dollar while attempting to increase the global role of the PRC’s own renminbi (RMB) currency. While past efforts stumbled, RMB internationalization and increased Chinese influence will directly confront U.S. economic and geopolitical interests.
Topic:: Economics, International Cooperation, International Trade and Finance, Hegemony, Conflict, and Rivalry
Political Geography:: China, Asia, North America, and United States of America

38. China’s Other Viral Crisis: African Swine Fever and the State Effort to Stabilize Pork Prices

Author:: John Dotson
Publication Date:: 03-2020
Content Type:: Journal Article
Journal:: China Brief
Institution:: The Jamestown Foundation
Abstract:: Since January, much of the international news coverage surrounding the People’s Republic of China (PRC) has been dominated by the story of the COVID-19 outbreak—a previously unknown coronavirus that first manifested in the central Chinese city of Wuhan in early December, and which has since rapidly proliferated throughout China and many other countries throughout the world (China Brief, January 29; Johns-Hopkins University, ongoing). The COVID-19 pandemic has largely crowded out international attention to another viral outbreak that Chinese authorities and farmers have been battling for eighteen months: African Swine Fever (非洲猪瘟, Feizhou Zhuwen), which throughout 2018 and 2019 devastated pig populations in both the PRC and surrounding countries. The virus has caused major disruptions to both supplies and the cost of pork, the primary staple meat in Chinese society. As such, it has had a significant impact on the Chinese economy, and has also given senior officials of the ruling Chinese Communist Party (CCP) reason to fear the potential impacts on “social stability” (社会稳定, shehui wending)—the CCP’s perennial overriding domestic concern.
Topic:: Economics, Food Security, Pandemic, COVID-19, and Animals
Political Geography:: China and Asia

39. The China-Myanmar Economic Corridor: Delays Ahead

Author:: Sudha Ramachandran
Publication Date:: 04-2020
Content Type:: Journal Article
Journal:: China Brief
Institution:: The Jamestown Foundation
Abstract:: Although no new deals were struck during People’s Republic of China (PRC) President Xi Jinping’s trip to Myanmar on January 17 and 18, the visit was significant for several reasons. The visit was the first by a PRC president to Myanmar in 19 years, and the first by Xi to this country in his role as president. The visit was widely touted as marking the 70th anniversary of the establishment of relations between the PRC and Myanmar. However, Xi’s first trip abroad this year was aimed at expediting implementation of the China-Myanmar Economic Corridor (CMEC), a key component of China’s Belt and Road Initiative (BRI) (CGTN, January 17). During the visit, the two governments signed 33 agreements, memorandums of understanding, protocols and letters of exchange relating to railways, industrial and power projects, and trade. Several of these agreements firm up Myanmar’s commitment to the CMEC’s three central components: the Kyaukphyu Special Economic Zone (SEZ), which includes a deep-sea port, an industrial park and other projects; the China-Myanmar Border Economic Cooperation Zone; and an urban development plan for Yangon (The Irrawaddy, January 18). However, just weeks after Xi’s visit saw the two sides take steps to expedite CMEC projects, Beijing’s plans have run into new problems. CMEC projects are running late, and in an op-ed piece published on the eve of his Myanmar visit, Xi stressed the need for CMEC projects to be moved from “the conceptual stage to concrete planning and implementation” (New Light of Myanmar, January 16). The coronavirus pandemic has emerged as the latest challenge in the long list of obstacles that have slowed CMEC projects over the years. According to Khriezo Yhome, a New Delhi-based analyst of developments in Myanmar, it “may be too early to assess the impact of the coronavirus crisis on CMEC projects,” given that the pandemic is still only at an “initial phase” in Myanmar; however, there is “no doubt” that it “will slow down the implementation of CMEC projects in the short-term.” [1]
Topic:: Diplomacy, Economics, International Cooperation, International Trade and Finance, and Bilateral Relations
Political Geography:: China, Asia, Burma, and Myanmar

40. The U.S.-China Trade War: Is There an End in Sight?

Author:: Simon Lester and Huan Zhu
Publication Date:: 01-2020
Content Type:: Journal Article
Journal:: The Cato Journal
Institution:: The Cato Institute
Abstract:: Donald Trump was a trade “hawk” long before he became president. In the late 1980s, he went on the Oprah Winfrey show and complained about Japan “beating the hell out of this country” on trade (Real Clear Politics 2019). As president, he has continued with the same rhetoric, using it against a wide range of U.S. trading partners, and he has followed it up with action (often in the form of tariffs). While many countries have found themselves threatened by Trump’s aggressive trade policy, his main focus has been China. As a result, the United States and China have been engaged in an escalating tariff, trade, and national security conflict since July 2018, when the first set of U.S. tariffs on China went into effect and China retaliated with tariffs of its own. In this article, we explore the U.S.-China economic conflict, from its origins to the trade war as it stands today. We then offer our thoughts on where this conflict is heading and when it might end.
Topic:: Economics, International Trade and Finance, Tariffs, Trade Wars, and Donald Trump
Political Geography:: China, Asia, North America, and United States of America

41. Participation of Kazakhstan in the Chinese “One Belt, One Road” Initiative: Advantages, Problems and Prospects

Author:: Saltanat Kuzembayeva
Publication Date:: 12-2020
Content Type:: Journal Article
Journal:: Nowa Polityka Wschodnia
Institution:: Faculty of Political Science and International Studies, Nicolaus Copernicus University in Toruń
Abstract:: The article is devoted to the geoeconomic goals and prospects of implementing the Chinese initiative „One Belt, One Road”. The author explores the benefits, problems and future opportunities that open up to the Republic of Kazakhstan as a participant in this initiative. The analysis carried out in the article showed that there are still many problems in the implementation of the Silk Road Economic Belt (SREB) project taking into account the state program of Kazakhstan “Nurly Zhol”, and difficulties arise in the practical implementation of various cooperation areas. At the same time, Kazakhstan should be guided exclusively by its national interests in cooperation with China in the framework of the “One Belt, One Way” initiative.
Topic:: Economics, Geopolitics, Soft Power, and Belt and Road Initiative (BRI)
Political Geography:: China, Central Asia, Eurasia, Kazakhstan, and Asia

42. The Implications of the China–Pakistan Economic Corridor for Pakistan–European Union Relations

Author:: Agnieszka Nitza-Makowska
Publication Date:: 03-2020
Content Type:: Journal Article
Journal:: Nowa Polityka Wschodnia
Institution:: Faculty of Political Science and International Studies, Nicolaus Copernicus University in Toruń
Abstract:: The China–Pakistan Economic Corridor (CPEC) holds the potential to transform Pakistan along with its turbulent regional environment. In the short run, the multiple networks of infrastructure that the project provides will eventually improve Pakistan–European Union (EU) trade. Moreover, while the CPEC is unlikely to bring an immediate strategic shift in the bilateral dialogue, which is particularly lacking in political dynamics, its long-run promises can help to foster such dynamics. The project, if successful, can help Pakistan to establish a peaceful domestic environment and subsequently promote the country’s fresh image to reverse its soft power losses in Europe and beyond. This paper investigates contemporary Pakistan–EU relations, which have so far attracted little attention from international relations scholars. It presents the bilateral dynamics in the context of the CPEC, which is an unprecedented investment by China in Pakistan. The paper concludes by shedding light on the differences between China’s and the EU’s strategies vis-à-vis Pakistan. Despite the fact that the study focuses on one particular South Asian state, it can serve as a case study for the comparative analysis of China’s and the EU’s presence in third countries, especially those that, like Pakistan, have joined the Belt and Road Initiative.
Topic:: International Relations, Economics, European Union, and Belt and Road Initiative (BRI)
Political Geography:: Pakistan, China, Europe, South Asia, and Asia

43. Joint U.S.-Korea Academic Studies 2020

Author:: Gilbert Rozman, Mark Tokola, Gilbert Rozman, Dmitri V. Trenin, Yuki Tatsumi, Kathryn Botto, Rush Doshi, Scott W. Harold, See-Won Byun, Cheol Hee Park, Brad Glosserman, Charles W. Boustany Jr., Matthew Goodman, Wonho Yeon, and Kitti Prasirtsuk
Publication Date:: 06-2020
Content Type:: Journal Article
Journal:: Joint U.S.-Korea Academic Studies
Institution:: Korea Economic Institute of America (KEI)
Abstract:: The experts in this volume have thoughtfully addressed themes that are pervasive throughout Asia and are timely for the U.S.-Korea alliance. With the future of Northeast Asia in flux, political leaders are hoping to transform their respective visions into the path forward for the region. Authors in the first section analyze the frameworks of U.S. President Donald Trump, Chinese President Xi Jinping, Russian President Vladimir Putin, Japanese Prime Minister Abe Shinzo, and South Korean President Moon Jae-in to discern the currents underlying geopolitical developments in the region. The second section examines the role of national identity in key bilateral Indo-Pacific relationships where geopolitical fault lines have become clearer. Chapters in this section cover the India-China, U.S.-China, South Korea-China, and South Korea-Japan dyads. The final section provides insights into how several of China’s neighbors and the United States are responding to its economic rise, which, of course, are also guided by strategic concerns. Considering how COVID-19 has exacerbated the rivalry between Washington and Beijing as well as the influence this relationship carries in shaping the future of the region, the contributions here are particularly relevant and timely.
Topic:: International Relations, Security, Economics, and Domestic Policy
Political Geography:: Japan, China, Asia, South Korea, North America, and United States of America

44. ASEAN’s Looming Anxiety

Author:: Kitti Prasirtsuk
Publication Date:: 06-2020
Content Type:: Journal Article
Journal:: Joint U.S.-Korea Academic Studies
Institution:: Korea Economic Institute of America (KEI)
Abstract:: The rise of China generally presents both opportunities and challenges, particularly in economic terms. In the past several years, new kinds of challenges have been emerging and are looming larger in ASEAN countries. While ties with Beijing are, by and large, cordial, there are several signs that relations below the state level are increasingly worrisome. First, Chinese foreign direct investment (FDI) is largely not oriented towards manufacturing. A considerable amount tends to be in non-real sectors, such as real estate and casinos, which may not generate much employment and can be unhealthy to local economies. Second, the way Chinese businesses expand tends to be predatory, as demonstrated in tourism-related businesses and the acquisitions of fruit businesses in Thailand. As a consequence, new Chinatowns are emerging as more Chinese are moving into the region. Third, even business expansion through the Chinese government, e.g., the train projects, is far from smooth. ASEAN countries find themselves in uneasy deals – including onerous loan terms, undue requests for land usage along the train lines, stringent technology transfers, and imported Chinese labor. Moreover, the recent COVID-19 outbreak reveals not only the fragility of economic overdependence on China, but also public resentment towards the Chinese. Overall, the relations at the level of business and the people are far from promising, which can become a risk factor in state-to-state relations. The situation apparently demands good management from both Beijing and the counterpart governments.
Topic:: International Relations, Foreign Policy, Economics, ASEAN, COVID-19, and Real Estate
Political Geography:: China, Malaysia, Asia, Vietnam, and Southeast Asia

45. Is China’s Innovation a Threat to the South Korea-China Economic Relationship?

Author:: Wonho Yeon
Publication Date:: 06-2020
Content Type:: Journal Article
Journal:: Joint U.S.-Korea Academic Studies
Institution:: Korea Economic Institute of America (KEI)
Abstract:: This paper reviews China’s technological rise and assesses whether it poses a threat to the South Korean economy. In terms of comparative advantage between the two countries, many experts have long believed that China’s strength is low-cost labor and Korea’s is technology and capital. However, this has changed as China’s economy grows. Now China has enough capital to invest in its economy. Some scholars even argue that China has the potential to meet its “innovation imperative” and emerge as a driving force in innovation on a global level.1 This paper examines the Korea-China economic relationship from the innovation productivity perspective, organized into sections: briefly introducing the Korea- China economic relationship; describing the technological rise of China, based on recent data; developing the model to analyze the innovation productivity of China and report the estimation results; evaluating the concern of the South Korean semiconductor industry; and presenting conclusions.
Topic:: International Relations, Economics, Science and Technology, and Bilateral Relations
Political Geography:: China, Asia, and South Korea

46. China’s Economic Rise amid Renewed Great Power Competition, America’s Strategic Choices

Author:: Charles W. Boustany Jr.
Publication Date:: 06-2020
Content Type:: Journal Article
Journal:: Joint U.S.-Korea Academic Studies
Institution:: Korea Economic Institute of America (KEI)
Abstract:: American ideals coupled with the commercial self-interest of American business and industry drove the policy of engagement, and even after the 1989 massacre of student protesters at Tiananmen Square, sustained momentum for China’s accession into the WTO. Despite China’s known unfair trade practices, it was thought that problems would eventually disappear as China adopted rules and norms as conditions of its accession to the WTO while deepening its integration into the global trading system. Yet, despite this strategy of engagement, China has not implemented expected substantive structural reforms consistent with the spirit, if not the letter, of its WTO obligations.
Topic:: International Relations, Security, Foreign Policy, and Economics
Political Geography:: China, Asia, North America, and United States of America

47. Chinese Views of South Korea: Aligning Elite and Popular Debates

Author:: See-Won Byun
Publication Date:: 06-2020
Content Type:: Journal Article
Journal:: Joint U.S.-Korea Academic Studies
Institution:: Korea Economic Institute of America (KEI)
Abstract:: China and the Republic of Korea (ROK) have experienced periods of conflict and cooperation since officially forging “partnership” relations in 1998. From a historical perspective, Korea was among the most willing participants of the Sinocentric tribute system and its underlying cultural hierarchy. Yet the 2003-2004 dispute over the ancient Koguryo kingdom’s identity marked the first major downturn in the China-ROK relationship since normalization. The rapid expansion of trade, at an average annual rate of 18 percent since 1992, has not prevented the two sides from fighting over political grievances. Most notably under the current Xi Jinping leadership, Beijing’s assertions of unprecedented friendship quickly turned into accusations of betrayal requiring economic punishment. Why and how did China’s policy toward South Korea shift so drastically after two decades of diplomatic normalization? To answer, we must focus on the expectations raised by China’s national identity for ties with South Korea. This study examines the evolution of Chinese views of South Korea with a focus on elite and popular narratives since 2013. Despite increased interdependence, these narratives point to China’s increasingly fragile political ties with Asian partners. Most importantly, China’s growing weight facilitates its strategic combination of economic and discursive tools of diplomacy framed by national identity. Recent tensions over the U.S.-ROK military alliance displayed Beijing’s denial of direct economic retaliation under the cover of public hostility, conveniently blurring the lines between state-led and voluntary actions. By hardening the identity dimensions of conflict, such strategies may only have long-term counterproductive effects of constraining Beijing’s political influence at home and abroad. The four sections below proceed as follows. First, I review two decades of China-ROK relations since the establishment of partnership ties in 1998. I identify two related trends: the intensification of political disputes despite trade, and China’s growing economic leverage in managing those disputes, keeping an eye on the role of national identity. Second, I assess the pessimistic turn in China’s domestic discourse on South Korea in the Xi Jinping period, using official, academic, and media sources. Third, I trace the interaction of elite and popular narratives, focusing on the 2016-2017 dispute over a U.S. missile defense system, Terminal High Altitude Area Defense (THAAD). I briefly extend the discussion to public clashes over Hong Kong in 2019 to underscore the enduring impact of China’s major power and domestic political identities on China-ROK relations. To conclude, I consider the trajectory of bilateral relations under the leadership of Xi Jinping and Moon Jae-in, including the domestic and foreign policy implications of nationalist discourse.
Topic:: Diplomacy, Economics, Public Opinion, and Elites
Political Geography:: China, Asia, and South Korea

48. The Essence of the Strategic Competition with China

Author:: Michael J. Mazarr
Publication Date:: 10-2020
Content Type:: Journal Article
Journal:: PRISM
Institution:: Institute for National Strategic Studies (INSS), National Defense University
Abstract:: U.S. national security strategy and defense policy have come to focus on China as the primary emphasis in the “strategic competition” outlined by recent U.S. strategy documents. Outside government, an avalanche of recent reports and essays lays out the China challenge in sometimes fervent terms, depicting an ideologically threatening revisionist state with malign intentions. As the Financial Times columnist Martin Wolf put it recently, “Across-the-board rivalry with China is becoming an organizing principle of U.S. economic, foreign and security policies.
Topic:: Security, Economics, International Cooperation, Hegemony, and Strategic Competition
Political Geography:: China, Asia, North America, and United States of America

49. China-Pakistan Economic Corridor: Geo-political Implications, Regional Constraints and Benefits of CPEC

Author:: Umar Farooq and Asma Shakir Khawaja
Publication Date:: 07-2019
Content Type:: Journal Article
Journal:: South Asian Studies
Institution:: Department of Political Science, University of the Punjab
Abstract:: The article is intended to find out the geopolitical implications, regional constraints and benefits of China-Pakistan Economic Corridor. Researcher reviewed both published research articles and books to find out geopolitical implication, regional constraints and benefits of China-Pakistan Economic Corridor. For this purpose, researcher also reviewed newspapers articles and published reports by government and non-governmental stakeholders working on CPEC. Review of the articles and reports indicated that CPEC had enormous benefits not only for China and Pakistan but also for the whole region. But different internal and external stakeholders are not in favor of successful completion of this project. Extremism, sense of deprivation, lack of political consensus, political instability are some of the internal constraints. On the other hand, Afghanistan, India, Iran, UAE and USA are posing constraints to halt the successful completion of CPEC.
Topic:: Economics, International Trade and Finance, Regional Cooperation, Violent Extremism, and Geopolitics
Political Geography:: Pakistan, Afghanistan, China, Iran, South Asia, India, Asia, Punjab, United Arab Emirates, and United States of America

50. China’s Territorial Claim at South China Sea: A Strategic Competition with USA and its Implications

Author:: Kanwal Hayat and Rehana Saeed Hashmi
Publication Date:: 07-2019
Content Type:: Journal Article
Journal:: South Asian Studies
Institution:: Department of Political Science, University of the Punjab
Abstract:: China claims South China Sea as its sovereign domain where it possesses the right to intervene militarily and economically. However, USA considers South China Sea as a common global passage where rule of law and freedom of navigation should prevail.These diverging viewpoints coexist in a wobbly peace environment where both US and China want their own version of international law to be applied and have occasionally resorted to minor armed conflicts over this issue. Every state claiming authority over South China Sea is willing to use coercion in order to get what they want, however, the extent of how far they are willing to go is not clear. This is resulting in a show of gunboat diplomacy involving maritime force of influential states that strives to manipulate the policy makers of the relevant nations (Costlow, 2012). The paper will focus on the situation in the South China Sea. South China Sea is not only claimed by China but various other Asian nations. Does this territorial strife possess the power to turn the region into a war zone? Being one of the most active trade routes in the world having complicated geography and the diverging regional and international interests makes it very sensitive area. China being the emerging economic giant gives competition to the USA in many spheres. Although America has no territorial claim in the South China Sea, it has strategic and economic interests. Where China wants a complete hegemonic control of the area, USA wants to find a way where free unchecked trade could be the future for all.Accompanied with numerous other South Asian nations claiming various portions of the region, a constant tension exists in the region.
Topic:: Conflict Prevention, Economics, International Trade and Finance, Sovereignty, Territorial Disputes, Hegemony, and Conflict
Political Geography:: China, Asia, North America, United States of America, and Oceans

51. China-Pakistan Economic Corridor (CPEC): A MultiDimensional Plan 2017-2030 and Its Characteristics

Author:: A. Z. Hilali
Publication Date:: 07-2019
Content Type:: Journal Article
Journal:: South Asian Studies
Institution:: Department of Political Science, University of the Punjab
Abstract:: China-Pakistan Economic Corridor (CPEC) is a set of projects under China‟s Belt and Road initiative, marks a new era of economic ties in a bilateral relationship between the two traditional friends. The multi-dimensional project will not only reform Pakistan economy but it will serve for people‟s prosperity and will help to revive the country economy of both countries. The visions of project partners are clear and the goals of the short term, mid-term and long-term plans of CPEC have been identified. So, the CPEC is not just a transit route for China and Pakistan‟s exports but it will transform Pakistan‟s economy and overcome its problems such as unemployment, energy, underdevelopment, and overall external economic dependency by building capacity in all necessary sectors. Therefore, CPEC could promote economic development and growth which will open new avenues and investment to the country which is based on shared partnership of cooperation, mutual benefits and sustainability. Thus, the CPEC is a grand porgramme and will deliver the economic gains to both China-Pakistan and it can be executed more efficiently and in a balanced way to serve the interests of both the countries. The project of CPEC is also important to China‟s energy and strategic security with reference to South China Sea and other regional and global players. Thus, CPEC could bring economic avenues to Pakistan and can improve regional economic and trade activities for greater development and prosperity. It has perceived that the project will not only foster socio-economic development but it will also reduce the level of political humidity and will be source of peace and harmony between the traditional adversaries. It has also assumed that regional economic integration through CPEC could be a harbinger to resolve the political differences by economic cooperation and regional economic connection could make 21st century the Asian century setting aside the perennial political issues to start a new beginning. Thus, in a longer perspective the CPEC can foster an economic community in the entire region of Asia and beyond if its vision is materialized in its true sense. The time will prove that the CPEC reap its fruits and will be advantages for not only Pakistan and China but for the entire region.
Topic:: Economics, International Trade and Finance, Regional Cooperation, Power Politics, and Infrastructure
Political Geography:: Pakistan, China, South Asia, Asia, and Punjab

52. The U.S. Indo-Pacific Strategy and Its Implications for U.S.-ASEAN Economic Governance Architecture

Author:: Kaewkamol Karen Pitakdumrongkit
Publication Date:: 07-2019
Content Type:: Journal Article
Journal:: Joint U.S.-Korea Academic Studies
Institution:: Korea Economic Institute of America (KEI)
Abstract:: During his visit to Asia in November 2017, President Donald Trump announced his vision of a “Free and Open Indo-Pacific” as the U.S. approach to the region. The Department of State unveiled in detail the economic elements of the Indo-Pacific strategy in April 2018. These economic policies were reiterated by Vice President Mike Pence at the Asia-Pacific Economic Cooperation (APEC) CEO Summit in Papua New Guinea in November 2018. For instance, Pence maintained that Washington plans to “make bilateral trade agreements with any Indo-Pacific nation that wants to be our partner and that will abide by the principles of fair and reciprocal trade,” promote private sector investment, and assist regional states on sustainable infrastructure development. On December 31, Trump signed into law the Asia Reassurance Initiative Act (ARIA) passed by the U.S. Congress earlier that month. ARIA further advances the strategy by mandating the executive branch to “develop a long-term strategic vision and a comprehensive, multifaceted, and principled United States policy for the Indo-Pacific region.” Moreover, the text authorizes $1.5 billion to “the Department of State, United States Agency for International Development [USAID], and, as appropriate, the Department of Defense . . . for each of the fiscal years 2019 through 2023, which shall be used” to achieve several objectives including ensuring “the regulatory environments for trade, infrastructure, and investment in partner countries are transparent, open, and free of corruption.” Against this backdrop, this chapter examines the effects of the U.S. Indo-Pacific strategy on the future of U.S.-ASEAN economic governance architecture. “Strategy” refers to “the collection of plans and policies that comprise the state’s deliberate effort to harness political, military, diplomatic, and economic tools together to advance that state’s national interest.” Such a study is warranted for a few reasons. First, the jury is still out on the degree to which this strategy would align or clash with different approaches and policies supported by Southeast Asian governments. Clashes of ideas and policies can result in not only failed implementation of the U.S. strategy but also competing economic initiatives which could undermine the future of U.S.-ASEAN trade and investment ties. Therefore, this research is aimed at: 1) assessing how the U.S. Indo-Pacific strategy would interact with Southeast Asian nations’ policies to shape the future development of regional economic architectures, and 2) forging policy recommendations for the U.S. and ASEAN governments on how they could jointly pursue regional economic institution-building. The questions I explore include: 1) What are the economic components of the U.S. Indo-Pacific strategy? 2) How will this strategy and Southeast Asian countries’ economic agendas/policies interact to shape the future advancement of regional economic architecture? and 3) What should American and ASEAN governments do to foster cooperation and lessen conflict among their different policies regarding economic regionalism? The chapter is organized as follows. The next part discusses the economic components of the Indo-Pacific strategy under the Trump administration. The second section examines the interactions between this strategy and the economic agendas of the Association of Southeast Asian Nations (ASEAN) to highlight the areas of complementarities and clashes. The last section provides policy recommendations for American and Southeast Asian governments to augment synergies and ameliorate clashes among their policies.
Topic:: Foreign Policy, Economics, Governance, and ASEAN
Political Geography:: Asia, North America, United States of America, and Indo-Pacific

53. Redefining U.S.-Japan Trade Relations Under Trump

Author:: Shihoko Goto
Publication Date:: 07-2019
Content Type:: Journal Article
Journal:: Joint U.S.-Korea Academic Studies
Institution:: Korea Economic Institute of America (KEI)
Abstract:: The Trump administration has had no qualms about going against conventional U.S. policy norms and long-established rules of engagement. Thinking outside of the box has not been without its merits; it has certainly led to much-needed reassessment of practices that could benefit from change. The greatest risk of such change, however, is when policy shifts are sudden, unexpected, and unexplained, especially with long-established partner nations. In the two years since President Donald Trump took office, the single biggest challenge for key U.S. allies has been to scramble to adapt to those drastic changes. That, in turn, has led them to reexamine and even alter their own longer-term strategies. For Japan, the pressure to adapt to such changes has been particularly intense, given its continued dependence on the United States for security in an increasingly unstable region on the one hand, and its reliance on robust trade relations with the world’s largest economy on the other. At the midway point of the Trump administration, Japan has actually emerged stronger over the past two years, at least on the trade front. Against the odds and defying expectations, it has succeeded in strengthening its position as a stabilizing force amid ongoing uncertainties in global trade rules. Yet, its success so far does not mean that the latter half of Trump’s tenure will be smooth sailing for Tokyo. In fact, Prime Minister Abe Shinzo’s balancing act of managing robust relations with the United States while ensuring Japan’s own economic interests may prove to be more difficult. The challenge is to further the gains it has made as an economic stabilizer, even as that outcome will redefine its broader role as a champion of the liberal international order, which has been put on shakier ground.
Topic:: Economics, Bilateral Relations, Trade, and Donald Trump
Political Geography:: Japan, Asia, and United States of America

54. The Trump Economic Impact on East Asia after Two Years: The Case of South Korea

Author:: Yoon Yeo-joon
Publication Date:: 07-2019
Content Type:: Journal Article
Journal:: Joint U.S.-Korea Academic Studies
Institution:: Korea Economic Institute of America (KEI)
Abstract:: The U.S.-South Korea relationship has traditionally been characterized as a security alliance, meeting the interests of both countries for a stable Korean Peninsula. Economically, Korea was a major recipient of U.S. development assistance after the Korean War. The U.S. also provided non-reciprocal preferential trade treatment, which played an important role in Korea’s economic development. After Korea’s unprecedented economic development, the economic relationship between the two countries progressed from mere donor-recipient relations. The U.S.-Korea economic partnership culminated in the Korea-U.S. free trade agreement (KORUS FTA), which came into effect in 2012. During the past 70 years, the U.S. has become the second most important export destination and the third most important importer for Korea. Korea has also risen to be the sixth largest trading partner for the U.S. During these years, Korea has also benefited from common values shared with the U.S., such as democracy, rule of law, and an open and free market economy. Two years into the Trump administration, the U.S.-Korea economic relationship is facing another turning point. Trump is a game changer, trying to alter the global trading system and its relation to China. Korea has been only partially affected by his grand scheme so far. However, Trump specifically blamed the KORUS FTA as a major contributing factor to the U.S.’ huge trade deficit and domestic job losses in manufacturing. As a result, the KORUS FTA was amended. Various protectionist measures, such as Section 201 tariffs on washing machines and solar panels as well as Section 232 tariffs on steel and aluminum, could have a substantial impact on Korea. Rising protectionism in the U.S. is a grave concern for Korea considering the significance of the U.S. to the Korean economy. This chapter explores U.S.-Korea economic relations two years into the Trump administration—too short a time to make definitive statements such as whether the relationship has deteriorated or not. The chapter is organized as follows. Section 2 describes the economic relations between Korea and the U.S., focusing on trade and investment. Section 3 covers the KORUS FTA renegotiations, which were recently settled. It includes what was decided and the implications for the Korean economy. Section 4 summarizes the protectionist measures that the Trump administration has imposed and how these measures would impact Korea, adding a simple empirical analysis that investigates whether the U.S. trade balance with Korea improved over the two years. Section 5 concludes the chapter.
Topic:: Foreign Policy, Economics, Bilateral Relations, Trade, and Donald Trump
Political Geography:: Asia, South Korea, and United States of America

55. U.S.-China Economic Relations Under the Trump Administration at the 2-Year Mark

Author:: Peter Harrell
Publication Date:: 07-2019
Content Type:: Journal Article
Journal:: Joint U.S.-Korea Academic Studies
Institution:: Korea Economic Institute of America (KEI)
Abstract:: Since entering office in 2017, President Trump has upended longstanding tenets of U.S. trade policy and launched the most aggressive set of new U.S. tariffs and trade restrictions since at least the Reagan administration in the 1980s. Actions include renegotiating the U.S.-Korea FTA (KORUS) and NAFTA, using “Section 232” of the Trade Expansion Act of 1962 to impose tariffs on most steel and aluminum imports into the U.S. in a bid to support U.S. smelters, using “Section 301” of the Trade Act of 1974 to impose tariffs on approximately half of U.S. imports from China, and threatening to use Section 232 to impose tariffs reportedly up to 25% on U.S. imports of automobiles. The administration’s aggressive stance on trade has upended diplomatic relationships and prompted multinational companies to re-consider aspects of their global supply chains. It has also brought retaliation, including Chinese tariffs on most Chinese imports of U.S. goods. European countries and other U.S. allies affected by Trump’s steel and aluminum tariffs have also retaliated with tariffs of their own against imports of U.S. goods, with many of the retaliatory tariffs targeting perceived politically important constituencies in the U.S., such as U.S. whisky distillers, who are heavily concentrated in the home state of Republican Senate Majority Leader Mitch McConnell. But Trump’s aggressive trade policies also began to deliver some successes in 2018, including a successful renegotiation of NAFTA, now renamed the U.S.-Mexico-Canada Trade Agreement (USMCA), a renegotiated Korea-U.S. FTA, and at least some willingness by European and Japanese officials to discuss greater market access for U.S. products. While many major U.S. importers and trade associations have complained about the tariffs, the tariffs continue to draw support from several of the key constituency groups that they are intended to assist, such as the U.S. steel industry. While U.S. tariffs against imports from allies are seemingly driven largely by the Trump administration’s general protectionist bent, Trump’s trade actions against China reflect a broader set of concerns that is more widely supported by members of the United States congress and American experts outside of government. These include both longstanding U.S. concerns over Chinese trade practices and market access barriers, and growing U.S. geopolitical competition with China—what the Trump administration’s National Security Strategy, released in December 2017, refers to as the return of “great power competition.” These geopolitical concerns have been central to the administration’s recent aggressive efforts to block the deployment of Huawei telecommunications technologies in new “5G” mobile communications networks around the world, and in the administration’s increasingly vociferous opposition to China’s “Belt and Road Initiative" (BRI). And because of increased U.S.-China geopolitical competition, U.S. use of targeted trade controls, investment restrictions, potential targeted sanctions, and other measures against China, will likely continue even if, as is widely expected, Trump and President Xi reach a broad agreement on many trade issues in the coming months and reduce some of the tariffs that are currently in place.
Topic:: Economics, Bilateral Relations, Tariffs, and Trade
Political Geography:: China, Asia, North America, and United States of America

56. China’s 2020 Economic Agenda: Maintaining Stability Amid Flux

Author:: Yun Jiang and Adam Ni
Publication Date:: 12-2019
Content Type:: Journal Article
Journal:: China Brief
Institution:: The Jamestown Foundation
Abstract:: China’s top annual economic policy gathering, the Central Economic Work Conference (中央经济工作会议, Zhongyang jingji gongzuo huiyi), or CEWC, was held between December 10 and 12 in Beijing. This year’s CEWC focused on the theme of “achieving developmental progress on the basis of first ensuring stability” (稳字当头, 稳中求进 / wen zi dangtou, wen zhong qiu jin) (Xinhua, December 12)—thereby continuing a theme stressed during the meeting of the National People’s Congress in March of this year (China Brief, March 22). Given increasing economic risks and political challenges, both domestic and international, the party-state’s focus on the supremacy of stability is unsurprising. Importantly, the CEWC reiterates that the goal of achieving a “moderately prosperous society” (小康社会, xiaokang shehui) by the end of 2020 is “a priority among priorities” (重中之重, zhong zhong zhi zhong). This article examines the key outcomes of the 2019 CEWC, which set the overall direction of China’s economic policy agenda for 2020. In doing so, we highlight a central underlying tension: on the one hand, the Chinese Communist Party (CCP) wants to keep a steady ship at a time of economic and strategic flux; on the other, maintaining strong economic growth requires ambitious developmental goals and economic reform imperatives, which have added pressure for bold policy actions. How well Chinese policymakers can navigate this tension in 2020 has important ramifications for both China’s national development and the CCP’s political legitimacy.
Topic:: Security, Development, Economics, Legitimacy, and Strategic Interests
Political Geography:: China and Asia

57. China’s Future Development: Challenges and Opportunities

Author:: James A. Dorn
Publication Date:: 01-2019
Content Type:: Journal Article
Journal:: The Cato Journal
Institution:: The Cato Institute
Abstract:: 1978 has been erratic, with many interruptions along the way. The end result, however, has been eye opening: the Middle Kingdom has become the world’s largest trading nation, the second largest economy, and more than 500 million people have lifted themselves out of poverty as economic liberalization removed barriers to trade. One of the enduring lessons from China’s rise as an economic giant is that once people are given greater economic freedom, more autonomy, and stronger property rights, they will have a better chance of creating a harmonious and prosperous society (see Dorn 2019). Nevertheless, China faces major challenges to its future development. There is still no genuine rule of law that effectively limits the power of government, no independent judiciary to enforce the rights promised in the nation’s constitution, no free market for ideas that is essential for innovation and for avoiding major policy errors, no competitive political system that fosters a diversity of views, and a large state sector that stifles private initiative and breeds corruption. China’s slowing growth rate, its increasing debt burden, environmental problems, and the increasing tension in U.S.-China relations compound the challenges facing Beijing.
Topic:: Development, Economics, History, and Trade Liberalization
Political Geography:: China and Asia

58. Assessing China’s Financial Reform: Changing Roles of the Repressive Financial Policies

Author:: Yiping Huang and Tingting Ge
Publication Date:: 01-2019
Content Type:: Journal Article
Journal:: The Cato Journal
Institution:: The Cato Institute
Abstract:: When China began economic reform in 1978, it had only one financial institution, the People’s Bank of China (PBOC), which, at that time, served as both the central bank and a commercial bank and accounted for 93 percent of the country’s total financial assets. This was primarily because, in a centrally planned economy, transfer of funds was arranged by the state and there was little demand for financial intermediation. Once economic reform started, the authorities moved very quickly to establish a very large number of financial institutions and to create various financial markets. Forty years later, China is already an important player in the global financial system, including in the banking sector, direct investment, and bond and equity markets. However, government intervention in the financial system remains widespread and serious. The PBOC still guides commercial banks’ setting of deposit and lending rates through “window guidance,” although the final restriction on deposit rates was removed in 2015. Industry and other policies still play important roles influencing allocation of financial resources by banks and capital markets. The PBOC intervenes in the foreign exchange markets from time to time, through directly buying or selling foreign exchanges, setting the central parity, and determining the daily trading band. The regulators tightly manage cross-border capital flows, and the state still controls majority shares of most large financial institutions.
Topic:: Economics, Foreign Exchange, Reform, Financial Markets, and Banks
Political Geography:: China and Asia

59. Tensions in U.S.-Korea Economic Relations

Author:: Troy Stangarone
Publication Date:: 04-2018
Content Type:: Journal Article
Journal:: International Journal of Korean Studies
Institution:: International Council on Korean Studies
Abstract:: Following a relatively successful period for U.S.-South Korea economic relations under the Bush and Obama administrations, Washington and Seoul have entered a new period of economic tension in the Trump administration. Unlike prior U.S. presidents, who placed a priority on negotiating fair rules in the United States’ economic relationships, President Trump has prioritized outcomes. As a result, one of his administration’s earliest moves was to renegotiate the KORUS Free Trade Agreement. While the results of the renegotiation were modest, they may help to expand the sale of American automobiles in the Republic of Korea in the long-run. The largest outcome of the negotiations may be to protect the Ford Motor Company from South Korean competition in the U.S. market as the company transitions to sales focused on light trucks. While the renegotiation has eased tensions for the moment, the prospect of economic engagement with North Korea, the Trump administration’s continued use of national security to erect trade barriers, and the emergence of new technologies such as artificial intelligence and autonomous vehicles could result in growing tensions in the relationship.
Topic:: Economics, Treaties and Agreements, Bilateral Relations, Negotiation, Free Trade, and Donald Trump
Political Geography:: Asia, South Korea, North Korea, North America, and United States of America

60. The Game for Regional Hegemony: China's OBOR and India's Strategic Response

Author:: Anshuman Rahul
Publication Date:: 06-2018
Content Type:: Journal Article
Journal:: AUSTRAL: Brazilian Journal of Strategy International Relations
Institution:: Postgraduate Program in International Strategic Studies, Universidade Federal do Rio Grande do Sul
Abstract:: The OBOR initiative of China often termed as ‘Modern-day Silk Road’ is based on President Xi Jinping’s epic vision to make ‘China Great Again’ by reviving the Silk Route of ancient times. This initiative aims to engage Eurasia economically by creating a network of infrastructure. In this regard, the article attempts to understand the geo-politics behind India’s refusal to join OBOR and strategic response to counter the most appealing economic engagement of the present era but considered to be a debt-trap by India.
Topic:: Economics, International Trade and Finance, Military Strategy, and Silk Road
Political Geography:: China, India, and Asia

61. The Benefits of Regional Integration for Pakistan and Central Asian Republics

Author:: Sarwat Rauf
Publication Date:: 12-2018
Content Type:: Journal Article
Journal:: Journal of Political Studies
Institution:: Department of Political Science, University of the Punjab
Abstract:: Regional cooperation can give power to the small states and in order to get economic development, states usually prefer to enter in political and economic alliances. This paper examines the efforts of Pakistan and China to upgrade their regional cooperation through connectivity. China-Pakistan Economic Corridor (CPEC) is an important branch of Chinese mega project, Belt and Road Initiative (BRI), which intended to link South Asia, Central Asia, Middle East, Europe and Africa by using land and sea routes. The main argument is that CPEC will bring comprehensive changes in the economy of Pakistan and it would be beneficial for neighboring countries particularly CARs. CPEC has steered several other economic projects such as signing of Central Asia-South Asia (CASA-1000) envisages cooperation between two regions. Similarly, groundbreaking ceremony of Turkmenistan, Afghanistan, Pakistan and India Pipeline (TAPI) reflects revamping of relations between states. The paper is set out in the perspective of available harmonious grounds for Pakistan and CARs. It also examines the various facets of the utility of CPEC for China, Pakistan and CARs
Topic:: Economics, Belt and Road Initiative (BRI), and Regionalism
Political Geography:: Pakistan, China, South Asia, and Asia

62. The United Nations Development Programme and the Two Koreas

Author:: Gabriel Jonsson
Publication Date:: 10-2017
Content Type:: Journal Article
Journal:: International Journal of Korean Studies
Institution:: International Council on Korean Studies
Abstract:: This paper examines the United Nations Development Programme’s role in South and North Korea’s economic development. The UNDP is not only the UN’s lead agency for economic and social development, it is one of the few UN organizations to have worked with both countries in traditional bilateral arrangements, as well as a in multilateral initiative. Operating in South Korea from 1963 to 2009, the UNDP contributed to the nation’s economic development by complimenting the government’s policies. However, its role was minor compared to the government’s own actions. Nonetheless, South Korea has served on the UNDP board four times since its UN admission in 1991, raising the country’s diplomatic standing. After North Korea joined the UNDP in 1979, the organization’s work in the country focused on improving food production and supporting industrial development. These activities helped improve the economic crisis since the 1990s. In the 1990s, the UNDP provided humanitarian assistance and scholarships to develop human resources. Pyongyang officials restricted the UNDP’s work throughout the time it was active in North Korea. These violations led the UNDP to suspend operations in 2007. Since the early 1990s, the UNDP has supported the Tumen River Area Development Program, the only initiative that involved the two Koreas, as well as China, Russia and Mongolia. Although the UNDP facilitated initial contacts, it was unable to overcome longstanding animosities and disagreements. The successor Greater Tumen Initiative continues to languish.
Topic:: Economics, Government, United Nations, and United Nations Development Program (UNDP)
Political Geography:: Asia, South Korea, North Korea, and United Nations

63. Chinese and Indian Competition in Space Heats Up

Author:: Sudha Ramachandran
Publication Date:: 10-2017
Content Type:: Journal Article
Journal:: China Brief
Institution:: The Jamestown Foundation
Abstract:: At the height of the Cold War the United States and the Soviet Union used money and weapons to build satellite states; today China and India are using satellites in space to win influence and secure their geo-political and economic interests. They see each other as competition in the global satellite launch business. So how do the Indian and Chinese space programs compare? In which areas is competition likely to be most intense?
Topic:: Economics, Science and Technology, Geopolitics, Soft Power, and Space
Political Geography:: China, India, Asia, and Sri Lanka

64. China Pakistan Economic Corridor – A geo-economic masterstroke of China

Author:: Inayat Kalim
Publication Date:: 07-2017
Content Type:: Journal Article
Journal:: South Asian Studies
Institution:: Department of Political Science, University of the Punjab
Abstract:: Development of China Pakistan Economic Corridor (CPEC), with all its associated projects, favorably influences the geo-strategic and geo-economic prospects of China. Geo-strategic location of Gwadar further facilitates China to capture transit trade with Central Asia, Afghanistan and the Middle East and influence this regional accessibility with a viable and secured corridor for further expansion of regional economic cooperation. Since the emergence of China as an energy importer in late 90s, it has adopted a „go out‟ strategy to secure energy assets through procurement and long term energy investment in the energy rich countries, mostly in the Persian Gulf states and convert historical routes into a modern grid of energy pipelines, roads and railways for its energy supplies. The strategy aims at using financial means such as building new seaports, infrastructure development and military and hydrocarbon cooperation between regional countries to establish an artery for ensuring uninterrupted crude oil supply to its territory. This Chinese approach has been referred by many intellects around the globe as the revitalization of the Silk Road Strategy to link China with surrounding regions to generate immense economic dividends.
Topic:: Economics, International Trade and Finance, Treaties and Agreements, Geopolitics, and Soft Power
Political Geography:: Pakistan, China, South Asia, Asia, and Punjab

65. China's Future and the Determining Role of the Market for Ideas

Author:: Ning Wang
Publication Date:: 01-2017
Content Type:: Journal Article
Journal:: The Cato Journal
Institution:: The Cato Institute
Abstract:: The ultimate success of China’s search for economic prosperity, cultural renaissance, and a “peaceful rise” depends, in large part, on whether a free market for ideas can reemerge and flourish in China. The concept of the “market for ideas” (sixian shichang) was first introduced to a Chinese audience by Ronald Coase and myself in How China Became Capitalist (Coase and Wang 2012, see also Coase 1974). It quickly won acceptance among academics and the media. China is the only leading economy where the production and communication of ideas remains under strict state control. Universities, the primary venue where new ideas are produced, are run by the state. Newspapers, radio and TV stations, and publishers are all controlled by the state; ideas unwelcome by the state have a hard time to see the light of day. Because the freedom to supply ideas, choose ideas, and criticize ideas is severely limited, the creativity of the Chinese people is underutilized and their innovative potential undertapped.
Topic:: Economics, History, and Freedom of Press
Political Geography:: China and Asia

66. Reinforcing U.S.-ROK Economic Relations through a Better Understanding of the KORUS FTA

Author:: Suh Jin Kyo
Publication Date:: 08-2017
Content Type:: Journal Article
Journal:: Joint U.S.-Korea Academic Studies
Institution:: Korea Economic Institute of America (KEI)
Abstract:: President Donald Trump has made it clear that he intends to follow through on his protectionist campaign promises. On his first day in office, he formally removed the United States from the TPP. Trump has also informed congressional leaders of his intent to renegotiate NAFTA, the biggest trade deal ever signed by Washington. If a draft letter being circulated by the U.S. Trade Representative (USTR) is approved by Congress, formal negotiations with Canada and Mexico could start later this year. Additionally, the president signed an executive order for USTR and the Department of Commerce to lead a comprehensive study of unfair trade practices of major trading partners. The result could provide the economic and political justifications needed to take bold and legally defensible actions. The administration also launched an investigation into the national security risks that may arise from a global oversupply of aluminum and steel. There are clear indications it may look to restrict aluminum and steel imports before long. Trump is now targeting the KORUS FTA. He has threatened to terminate the five-year-old trade deal, which, he claims, has been devastating for the American economy, unless Korea gives the United States better terms, citing the arrangement’s simpler process of termination relative to NAFTA.
Topic:: International Relations, Economics, Treaties and Agreements, Bilateral Relations, and Free Trade
Political Geography:: Asia, South Korea, North America, and United States of America

67. Intro | U.S.-ROK Economic Relations Left Uncertain Amid Leadership Changes

Author:: Gilbert Rozman
Publication Date:: 08-2017
Content Type:: Journal Article
Journal:: Joint U.S.-Korea Academic Studies
Institution:: Korea Economic Institute of America (KEI)
Abstract:: While the other parts of this book bring China fully into the coverage—diplomacy, national identities, and sanctions—here we narrow the focus on U.S.-ROK relations with an eye to the current uncertainty about the future of the KORUS FTA, the five-year old bilateral trade agreement. Donald Trump has assumed the presidency critical of trade imbalances in goods, including assertions about the negative impact of the FTA with South Korea. It appears that the U.S. side will insist on renegotiating the agreement. In order to assess what this could mean, we take a close look at what the impact of KORUS has been and at how the debate in Washington has been unfolding under Trump’s watch. The three chapters were written in the early spring of 2017; so they could capture only the initial impact of Trump at a time when South Korean leadership was paralyzed between impeachment and the election of a new president without any serious bilateral engagement over economic issues. Yet, as tensions over economics are expected to rise, our objective is to inform the discussion with relevant economic background and with awareness of what Trump has been saying and how it may shape the political debate.
Topic:: International Relations, Economics, Bilateral Relations, Leadership, and Trade
Political Geography:: Asia, South Korea, North America, and United States of America

68. Commitment Concerns

Author:: Sheldon Simon
Publication Date:: 01-2016
Content Type:: Journal Article
Journal:: Comparative Connections
Institution:: Pacific Forum
Abstract:: US relations with Southeast Asia encompassed all three pillars of its rebalance to Asia: military presence, multilateral diplomacy, and economic engagement. Militarily, the freedom of navigation voyage of the USS Lassen past China’s artificial islands occurred while the Department of Defense announced a $425 million five-year military aid program for Southeast Asian states and the White House committed an additional $259 million in military support for Indonesia, Malaysia, and the Philippines. Diplomatic engagements included visits to the region by the president, the secretaries of state and defense, and a number of senior aides to attend multilateral meetings. Commitment to the economic pillar led to the conclusion of negotiations for the Trans-Pacific Partnership (TPP) trade agreement. If ratified by the signatories, the TPP would be the most comprehensive trade and investment arrangement in the world, though a number of obstacles in many of the countries do not portend a quick or easy confirmation.
Topic:: Security, Economics, International Cooperation, International Trade and Finance, and Military Strategy
Political Geography:: Asia, North America, Southeast Asia, and United States of America

69. A Full Year of “Acting East”

Author:: Satu Limaye
Publication Date:: 01-2016
Content Type:: Journal Article
Journal:: Comparative Connections
Institution:: Pacific Forum
Abstract:: India-East Asia relations during 2015 offered a perspective on the first full year of India “Acting East.” India took important steps to shore up ties with several Asia-Pacific countries while also creating new relationships. While India-East Asia relations saw no ground-breaking developments, Prime Minister Modi continues to emphasize the political and strategic dimensions of India’s East Asia outreach – particularly in the maritime domain. An official review of India’s foreign relations released in late December provided a perspective on the priority that the Modi administration has been giving to East Asia.
Topic:: Diplomacy, Economics, International Cooperation, and International Trade and Finance
Political Geography:: India, East Asia, and Asia

70. ASEAN Centrality?

Author:: Sheldon Simon
Publication Date:: 05-2016
Content Type:: Journal Article
Journal:: Comparative Connections
Institution:: Pacific Forum
Abstract:: The mid-February ASEAN-US Summit was the Obama administration’s effort to show ASEAN’s central role in the US rebalance to Asia. It was only partially successful. Several new business initiatives were inaugurated to link US and ASEAN entrepreneurs. However, security cooperation hardly advanced. While maritime security was included in the joint declaration, there was no mention of US freedom of navigation (FON) patrols or the South China Sea disputes. In January, the Philippine Supreme Court cleared the way for the Philippine-US Enhanced Defense Cooperation Agreement, allowing US forces rotational access to several Philippine military bases and enhancing interoperability. Washington plans to increase the frequency and “complexity” of FON patrols near the artificial islands built by China, and the US has begun joint patrols with Philippine ships. Washington also announced a Southeast Asian Maritime Security Initiative that includes a $425 million multi-year appropriation for regional capacity to improve maritime domain awareness and patrols.
Topic:: Security, Diplomacy, Economics, International Cooperation, Military Strategy, and Maritime
Political Geography:: Asia, North America, and United States of America

71. New Sanctions, Old Dilemmas

Author:: Scott Snyder and See-Won Byun
Publication Date:: 05-2016
Content Type:: Journal Article
Journal:: Comparative Connections
Institution:: Pacific Forum
Abstract:: North Korea’s fourth nuclear test in January and long-range rocket launch in February drew global opposition in the form of UN Security Council (UNSC) Resolution 2270 and condemnation by regional leaders. Pyongyang, however, promptly dismissed such calls with a series of short- and mid-range missile launches in March and April. Presidents Xi Jinping and Park Geun-hye expressed support for full implementation of UN sanctions in bilateral talks at the Nuclear Security Summit (NSS) in Washington. Foreign Ministers Wang Yi and Yun Byung-se pledged their commitment to denuclearization at the fifth Foreign Ministers Meeting of the Conference on Interaction and Confidence Building Measures in Asia (CICA) in Beijing on April 27-28, where Xi declared that China “will absolutely not permit war or chaos on the peninsula.” Despite Beijing’s hardened rhetoric, current tensions on the Korean Peninsula point to enduring differences between Beijing and Seoul’s strategic preferences.
Topic:: Arms Control and Proliferation, Diplomacy, Economics, Military Strategy, Sanctions, and Denuclearization
Political Geography:: China, Asia, and North Korea

72. Friction and Cooperation Advance Simultaneously

Author:: Bonnie S. Glaser and Alexandra Viers
Publication Date:: 09-2016
Content Type:: Journal Article
Journal:: Comparative Connections
Institution:: Pacific Forum
Abstract:: Senior US and Chinese officials publicly emphasized positive developments in the bilateral relationship at the eighth US-China Strategic and Economic Dialogue, while privately raising concerns. The second US-China Cybercrime and Related Issues High-Level Joint Dialogue convened a week later. The South China Sea persisted as a major area of tension as an UNCLOS Tribunal ruled in favor of the Philippines in its case against China. National Security Adviser Susan Rice traveled to Beijing in late July to prepare for the US participation in the G20 Summit in Hangzhou and what is likely to be the last meeting between Xi Jinping and President Obama. Bilateral military ties maintained an active pace with a visit by the US chief of naval operations to China in July, a port visit by a US guided-missile destroyer to Qingdao in August, and Chinese participation in the Rim of the Pacific (RIMPAC) military exercises in Hawaii.
Topic:: Development, Diplomacy, Economics, and Bilateral Relations
Political Geography:: China, Asia, North America, and United States of America

73. Progress on Defense while Economic Issues Lag

Author:: Satu Limaye
Publication Date:: 09-2016
Content Type:: Journal Article
Journal:: Comparative Connections
Institution:: Pacific Forum
Abstract:: Since relations were reset following President Obama’s visit to India in January 2015, there have been three visits to the US by Prime Minister Modi. The US and India have also conducted two iterations of the Strategic and Commercial Dialogue (S&CD), exchanged multiple Cabinet-level visits, and announced new initiatives to broaden and deepen dialogue and produce outcomes. Over the past year and a half, the absence of drama has allowed for notable progress in the area of defense relations, but just as notably little progress on key trade and investment issues even as bilateral trade and investment grows. After three decades and three US presidents with strong commitments to the bilateral relationship, it remains to be seen whether a new US president will reciprocate Modi’s expressed and demonstrated interest in strong US-India relations. Since then, there have been three further visits to the US by Prime Minister Modi – in September 2015 for meetings at the United Nations as well as outreach to the Indian-American community and US business community, in April 2016 to attend the Nuclear Security Summit, and in June 2016 for a final summit with President Obama and a speech to a joint session of Congress. The US and India have also conducted two iterations of the newly-launched Strategic and Commercial Dialogue (S&CD) modeled on the US-China Strategic and Economic Dialogue, exchanged multiple Cabinet-level and senior officials visits, and announced new initiatives (e.g., upgraded UN and Multilateral Dialogue, Maritime Security Dialogue, consultations on Africa) to broaden and deepen dialogue and produce outcomes. During the period under review (March 2015 to September 2016), there have been no dramatic events similar to PM Modi being “unbanned” from visiting the US. The absence of drama has allowed for notable progress in the area of defense relations, but just as notably little progress on key trade and investment issues even as bilateral trade and investment grows. After three decades and three US presidents with strong personal and policy commitments to the bilateral relationship, it remains to be seen whether a new US president will reciprocate Prime Minister Modi’s expressed and demonstrated interest in strong US-India relations. Unlike divergences between the current two US presidential candidates on a host of foreign policy issues and in particular relations with the Asia-Pacific, statements and indications by the Clinton and Trump campaigns suggest a strong commitment to continued improvements in US-India relations. Both party platforms specifically address the importance of India, though it is noteworthy that the Republican platform raises issues about India’s commercial openness and the country’s treatment of religious minorities.
Topic:: Defense Policy, Diplomacy, Economics, and International Cooperation
Political Geography:: India, Asia, North America, and United States of America

74. David Martin Jones, Nicholas Khoo and MLR Smith, Asian Security and the Rise of China: International Relations in an Age of Volatility

Author:: Dylan Kissane
Publication Date:: 02-2015
Content Type:: Journal Article
Journal:: Central European University Political Science Journal
Institution:: Central European University
Abstract:: If there is one issue in contemporary international relations that continues to provoke interest in academic and policy making circles alike it is how states, regions and the world should react to a rising China. While the influence of the People's Republic is being felt from Africa and the Global South through to the developed economies of North America and Europe, it is in East Asia where a re-emerging China has most focused the minds of diplomats and strategists, leaders and scholars and, indeed, the military men and women who must navigate this increasingly precarious great power polity. Within this East Asian context this new volume by David Martin Jones, Nicholas Khoo and MLR Smith delivers thoughtful and attentive analysis to the problem of responding to China's rise. The book is neither a historical account of the rise of China, though it does offer sufficient historical contextualisation for the reader, or another collection of prescriptive policy suggestions, though there are clear conclusions made about which regional and state strategies have best dealt with the rise of the Sinic superpower. Instead, this book is a theoretically informed, consistently argued and well written account of how states in a broadly defined East Asia have and continue to react to the changing security environment that confronts them in the first decades of the twenty-first century.
Topic:: International Relations, Security, Economics, and Environment
Political Geography:: Africa, China, America, and Asia

75. Everyone Pivots to the Asia-Pacific

Author:: Ralph A. Cossa and Brad Glosserman
Publication Date:: 02-2015
Content Type:: Journal Article
Journal:: Comparative Connections
Institution:: Center for Strategic and International Studies
Abstract:: A trifecta of international gatherings – the Asia Pacific Economic Cooperation (APEC) Leaders Meeting in Beijing, the East Asia Summit (EAS) in Nay Pyi Taw, and the G-20 gathering in Brisbane – had heads of state from around the globe, including US President Barack Obama, flocking to the Asia-Pacific as 2014 was winding to a close. North Korea was not included in these confabs but its leaders (although not the paramount one) were taking their charm offensive almost everywhere else in an (unsuccessful) attempt to block a UN General Assembly resolution condemning Pyongyang's human rights record. More successful was Pyongyang's (alleged) attempt to undermine and embarrass Sony Studios to block the release of a Hollywood film featuring the assassination of Kim Jong Un.
Topic:: Economics
Political Geography:: Asia and North Korea

76. ASEAN: Creating the Rules-Based Architecture in Asia

Author:: Nina Hachigan
Publication Date:: 09-2015
Content Type:: Journal Article
Journal:: The Ambassadors Review
Abstract:: In my second week on the job as the second United States Ambassador to the Association of Southeast Asian Nations (ASEAN), I headed to Naypyidaw, Burma to meet President Obama at the East Asia Summit. There I witnessed one of the many reasons the United States has increased its engagement with ASEAN: ASEAN convenes Asia. In 1967, leaders of five nations formed ASEAN, renouncing the violence that had characterized their relationships and dedicating themselves to furthering the prosperity of the region. Five more countries joined in the intervening decades and now ASEAN’s Member States, with a total population of some 625 million, are Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. ASEAN has delivered well on its primary mission: to keep the peace among a group of member states with huge diversity in levels of economic development, political systems, cultures, religions, and size. This foundation of geopolitical stability has allowed the economies in Southeast Asia to take off and lift tens of millions out of poverty. As a whole, ASEAN has enjoyed the third highest growth rate in the world over the past decade.
Topic:: Development, Economics, Human Welfare, Poverty, and Regional Cooperation
Political Geography:: Asia

77. Full Issue: Money & War

Author:: Sarah Detzner, James Copnall, Alex de Waal, Ian M. Ralby, Joshua Stanton, Ibrahim Warde, Leon Whyte, Richard Weitz, Jessica Knight, John H. Maurer, Alexander Tabarrok, Alex Nowrasteh, Tom Keatinge, Emily Knowles, Karolina MacLachlan, Andrew Lebovich, Caroline Troein, and Anne Moulakis
Publication Date:: 01-2015
Content Type:: Journal Article
Journal:: Fletcher Security Review
Institution:: The Fletcher School, Tufts University
Abstract:: The Fletcher Security Review: Managed and edited by students at the Fletcher School of Law and Diplomacy, we build on the Fletcher School’s strong traditions of combining scholarship with practice, fostering close interdisciplinary collaboration, and acting as a vehicle for groundbreaking discussion of international security. We believe that by leveraging these strengths – seeking input from established and up-and-coming scholars, practitioners, and analysts from around the world on topics deserving of greater attention – we can promote genuinely unique ways of looking at the future of security. Each issue of the Review is centered around a broad theme – in this issue, we tackle “Money & War.” Money influences every aspect of warfare, conventional or unconventional. No nationstate military, insurgent group, terrorist network, trans-national criminal organization, or hybrid actor can be understood, or countered, without knowing where the money is coming from – as well as where, and how, it gets spent. Evolutions and revolutions in financial tools and practices quickly translate to transformations in military affairs, and some cases, vice versa.
Topic:: Security, Foreign Policy, Economics, Human Rights, Governance, Sanctions, Military Affairs, Finance, Islamic State, Navy, Arab Spring, Maritime, Conflict, Multilateralism, Islamism, Drugs, and Currency
Political Geography:: Afghanistan, Africa, China, Iran, Sudan, Darfur, Middle East, Asia, North Korea, Mali, Asia-Pacific, Sahel, United States of America, and North America

78. Fletcher Opening Arctic Conference

Author:: Rabia Altaf, Molly Douglas, and Drew Yerkes
Publication Date:: 09-2015
Content Type:: Journal Article
Journal:: Fletcher Security Review
Institution:: The Fletcher School, Tufts University
Abstract:: Many Western leaders point to the Arctic as a zone of cooperation—and we have observed such cooperation with the formulation of the Arctic Council, joint scientific endeavors, Search and Rescue agreements, and the very recent Arctic Coast Guard Forum—but disputes between Russia and other Arctic nations in regions to the south have raised concerns in certain quarters. While an ongoing struggle for dominance over the Northern Sea Route and Northwest Passage and competing continental shelf claims may reflect these tensions, tit-for-tat military exercises and plans for expanded military infrastructure in the Arctic certainly do. The Russian government recently announced completion of a new military base in Franz Josef Land capable of supporting 150 soldiers, as well as its intention to rebuild six existing airfields. While such a nominal increase in military personnel posted to the Arctic may merely be seen as a posturing act, taken in context with Russia’s recent actions in Europe and the Middle East, it might also be seen as a bold move to project power from a previously overlooked region.
Topic:: Security, Economics, International Cooperation, and Geopolitics
Political Geography:: Russia, China, Asia, North America, Arctic, and United States of America

79. China Makes Strides with AIIB and a Great Wall of Sand

Author:: Bonnie S. Glaser and Jacqueline Vitello
Publication Date:: 05-2015
Content Type:: Journal Article
Journal:: Comparative Connections
Institution:: Pacific Forum
Abstract:: 2015 opened with high-level exchanges in preparation for the Strategic and Economic Dialogue, scheduled for early summer, and Xi Jinping’s state visit in September. Visits to China were made by Deputy Secretary of State Tony Blinken, Treasury Secretary Jacob Lew, Commerce Secretary Penny Pritzker, and Homeland Security Secretary Jeh Johnson. Chinese State Councilor Yang Jiechi met National Security Adviser Susan Rice in New York. Military exchanges included dialogues, ship visits, joint drills, and video calls. The South China Sea remained a source of friction as evidence mounted that China is building military outposts on reefs in the Spratly Islands. In response to the issuance of the revised US-Japan Defense Guidelines, China voiced concerns and called the alliance outdated. Despite US objections, a total of 57 countries signed up to be founding members of the Chinese-led Asian Infrastructure Investment Bank. China held its annual meetings of the National People’s Congress and the Chinese People’s Political Consultative Congress, announcing an economic growth target of around 7 percent and an increase in its defense budget of 10.1 percent in 2015.
Topic:: Economics, Military Strategy, Territorial Disputes, and Infrastructure
Political Geography:: China and Asia

80. Ambitious Economic Initiatives amid Boundary Disputes

Author:: Chin-Hao Huang and Robert G. Sutter
Publication Date:: 05-2015
Content Type:: Journal Article
Journal:: Comparative Connections
Institution:: Pacific Forum
Abstract:: Beijing’s recent economic initiatives with neighboring countries focus on the Asian Infrastructure Investment Bank (AIIB) and the Chinese Silk Road Fund. The Boao Forum featured a keynote speech by President Xi Jinping emphasizing the AIIB and Silk Road Fund support for infrastructure connectivity with neighbors to create a “common destiny.” Against that positive background, lower-level Chinese officials, using carefully measured language, rebuffed complaints by the Philippines, Vietnam and the US protesting China’s rapid creation and expansion of islands through massive dredging and follow-up construction of facilities. Senior leaders did respond sharply when Myanmar armed forces killed Chinese civilians in a cross-border air attack in March. In a departure from past practice, ASEAN leaders publicly registered serious concern about the land reclamation in the South China Sea. Against that positive background, Chinese leaders generally sidestepped the strong language seen at the annual Chinese People’s Congress meetings and other venues in the recent past regarding Chinese determination to protect disputed sovereignty and insure peace through strength in dealing with territorial disputes. Senior leaders did respond sharply when Myanmar armed forces killed Chinese civilians in a cross-border air attack in March as the Myanmar military suppressed resistance by an ethnic militia with close historic ties to China. Chinese leaders tended to leave publicizing South China Sea disputes to lower-level officials, using carefully measured language to rebuff complaints made by US, Philippine, and Vietnamese representatives protesting China’s rapid creation and expansion of islands through massive dredging and follow-up construction of facilities for surveillance and power projection. In a departure from past practice, ASEAN leaders on April 27 publicly registered serious concern about the land reclamation in the South China Sea.
Topic:: Economics, Military Strategy, Territorial Disputes, and Conflict
Political Geography:: China, Asia, and Myanmar

81. Looking to a Different Future

Author:: David G. Brown and Kevin Scott
Publication Date:: 05-2015
Content Type:: Journal Article
Journal:: Comparative Connections
Institution:: Pacific Forum
Abstract:: Taipei’s relations with Beijing have been adrift with the Ma administration in a reactive mode. The main interactions have been on unexpected issues – China’s M503 air route and Taiwan’s effort to join the Asian Infrastructure Investment Bank (AIIB) – and results were mixed. Meanwhile all players are preparing for a different future. The KMT is trying to reform itself; new chairman Eric Chu Li-lun visited China and met General Secretary Xi Jinping in early May. Beijing is focused on working with the new KMT and on deterring the DPP from returning to office in 2016. The DPP and Chairperson Tsai Ing-wen have begun defining its policy toward Beijing before Tsai visits Washington in June.
Topic:: Diplomacy, Economics, Territorial Disputes, and Conflict
Political Geography:: China, Taiwan, and Asia

82. The Rebalance Picks up Steam

Author:: Brad Glosserman and Ralph A. Cossa
Publication Date:: 09-2015
Content Type:: Journal Article
Journal:: Comparative Connections
Institution:: Pacific Forum
Abstract:: The big news over the summer is the granting of “fast track” Trade Promotion Authority to President Obama by the US Congress. This keeps hopes alive for the Trans-Pacific Partnership, the economic centerpiece of the Obama administration’s rebalance to Asia. The political and military legs of this multidimensional strategy got a boost as Secretary of State John Kerry attended the annual ASEAN Regional Forum ministerial meeting and Secretary of Defense Ashton Carter headlined the show at the Shangri-La Dialogue. China continues to make its presence felt in regional affairs as well; President Xi Jinping attended meetings in Ufa, Russia with other BRICS and Shanghai Cooperation Organization leaders and hosted a Conference on Interaction and Confidence Building Measures in Asia (CICA) Special Working Group and Senior Officials Committee Meeting and first CICA Youth Council Conference in Beijing, while continuing to pursue his Silk Road and Asian Infrastructure Investment Bank initiatives, even as China’s economy took a significant hit. Meanwhile, Pyongyang engaged in another round of Russian roulette but backed down when it became apparent Seoul was prepared to pull the trigger. Finally, the 70th anniversary of the end of World War II put history on the front pages. That opened the door to the next round of negotiations among TPP representatives in July in Maui, but they couldn’t close the deal. Post-mortems blamed disputes between Japan and North America over cars (Mexico was particularly incensed over “rules of origin” that would impact its access to the US market), New Zealand recalcitrance over trade in dairy items (pique inspired by Canada’s refusal to open its market, which prompted the US and Japan to low-ball their offers), a split between Australia and the US over sugar markets, and US resistance to any cuts in the duration of intellectual property rights monopoly periods for next-generation drugs. US Trade Representative Michael Froman said the talks made “significant progress” – Australian Trade Minister Andrew Robb agreed, adding that “98 percent is concluded” – but the tough issues remained, well, hard to resolve. In his analysis for The Oriental Economist, Rick Katz argued that deals negotiated with Congress to secure TPA reduced Froman’s negotiating room. There is fear now that the failure to reach agreement means that no deal will be concluded for at least another year and a half. Canada holds an election in October and the conservative government of Prime Minister Stephen Harper needs to hold the line on agriculture imports to avoid losing votes. That means that he cannot negotiate a deal until after that ballot – assuming he wins; an opposition victory will raise the bar to any deal – which then pushes any final agreement to 2016 and the midst of a US presidential campaign, which is no time for bold legislative action. If that assessment is correct, then there is the possibility that a final deal won’t be concluded until 2017 or 2018.
Topic:: Diplomacy, Economics, International Trade and Finance, and Regional Cooperation
Political Geography:: Asia, North America, and United States of America

83. China's Political-Economic Institutions and Development

Author:: Chenggang Xu
Publication Date:: 10-2015
Content Type:: Journal Article
Journal:: The Cato Journal
Institution:: The Cato Institute
Abstract:: After more than three decades of economic reform, China has transformed from being one of the poorest economies in the world to being the second-largest economy measured by nominal exchange rates, or the largest economy measured by purchasing power. As such, it is important to elucidate the determinants of China’s future development. This article will focus on China’s institutions. I argue that although the size of China’s economy is extremely important in terms of its impact on the global economy, it is misleading to ignore political and economic institutions. Indeed, forecasts based on extrapolating past trends could be erroneous (see Pritchett and Summers 2014). China was the largest economy in the world before the end of the 19th century but then lost ground to Western nations that established the rule of law and free trade. To understand China’s past and future development, one has to examine its institutions.
Topic:: Economics, Reform, and Global Political Economy
Political Geography:: China and Asia

84. Recalcitrance and initiative: US hegemony and regional powers in Asia and Europe after World War II

Author:: Arthur A. Stein
Publication Date:: 01-2014
Content Type:: Journal Article
Journal:: International Relations of the Asia-Pacific
Institution:: Japan Association of International Relations
Abstract:: This paper challenges the conventional wisdom that US power and preferences following World War II led to bilateralism in Asia and multilateralism in Western Europe. It argues that the challenges facing the United States in both regions were similar, as were US policies meant to address them. With some lag, the United States supported the economic recovery of the regional powers it had defeated (Germany and Japan), saw the restoration of regional trade as a prerequisite, sought military bases to assure postwar security, and envisioned rearming its former foes as part of its security strategy. The outcomes in the two regions reï¬‚ected the preferences and reservations of regional actors. The critical differences between the regions were structural. The existence of middle powers was critical in Europe, the return of colonial powers to Asia precluded regional arrangements in the short term, and geostrategic differences shaped the requisites for regional security.
Topic:: Economics and War
Political Geography:: United States, Europe, and Asia

85. America's Mega-Regional Trade Diplomacy: Comparing TTP and TTIP

Author:: Daniel S. Hamilton
Publication Date:: 03-2014
Content Type:: Journal Article
Journal:: The International Spectator
Institution:: Istituto Affari Internazionali
Abstract:: The United States is currently negotiating two massive regional economic agreements, one with 11 Asian and Pacific Rim countries and the other with the 28-member European Union. The Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP) herald a substantial shift in US foreign economic policy as Washington turns its focus from the stalemated Doha Round of multilateral trade negotiations and scattered bilateral trade agreements to 'mega-regional' trade diplomacy. As the only party to both negotiations, Washington seeks to leverage issues in one to advance its interests in the other, while reinvigorating US global leadership.
Topic:: Diplomacy and Economics
Political Geography:: United States, Europe, Washington, and Asia

86. Western Pessimism, Asian Optimism: Three Perspectives on Global Governance

Author:: Sir Richard Jolly
Publication Date:: 09-2014
Content Type:: Journal Article
Abstract:: As of 2007 the world economy has been caught in the worst crisis since the 1930s. Yet after two years of only partly successful efforts to mobilize and coordinate global action of financial control and stimulus, ending with the G-20 meeting of March 2009, responsibility for corrective economic initiatives has essentially been left to individual countries, supported by the International Monetary Fund (IMF) and the European Union (EU). Moreover, such support has been usually conditional on countries following financial policies of tough austerity. The United States took some actions to stimulate its economy, but by many accounts these were insufficient. Most of Europe has not even attempted stimulus measures and has been in a period of economic stagnation, with falling real incomes among the poorest parts of the population. Although some signs of “recovery” have been heralded in 2013 and 2014, growth has mostly been measured from a lower base. There is little evidence of broad-based economic recovery, let alone improvements in the situation of the poor or even of the middle-income groups.
Topic:: Economics and Governance
Political Geography:: United States, Europe, and Asia

87. Japan and Turkey: The Contours and Current Status of an Economic Partnership/Free Trade Agreement

Author:: Scott Morrison
Publication Date:: 04-2014
Content Type:: Journal Article
Journal:: Insight Turkey
Institution:: SETA Foundation for Political, Economic and Social Research
Abstract:: As the third largest economy in the world, Japan cannot be overlooked in any analysis of Asia's importance in international geopolitics and the global political economy. The ties between Japan and Turkey – whether diplomatic, political, economic or societal – span the breadth of Asia. Those ties have become more numerous and consequential in monetary terms over the last half-decade. Although the relationship has not been a top priority for either country, awareness of the potential for mutual gain as a result of more trade and investment has a history of at least three decades. This article surveys the current economic and trade relationship between Turkey and Japan, paying particular attention to recent notable Japanese investments in Turkey and the preliminary positioning of trade representatives in advance of a proposed Free Trade/Economic Partnership Agreement.
Topic:: Economics and Political Economy
Political Geography:: Japan, Turkey, and Asia

88. US-Southeast Asia Relations: Philippines - An Exemplar of the US Rebalance

Author:: Sheldon Simon
Publication Date:: 10-2013
Content Type:: Journal Article
Journal:: Comparative Connections
Institution:: Center for Strategic and International Studies
Abstract:: The Philippines under President Benigno Aquino III has linked its military modernization and overall external defense to the US rebalance. Washington has raised its annual military assistance by two-thirds to $50 million and is providing surplus military equipment. To further cement the relationship, Philippine and US defense officials announced that the two countries would negotiate a new “framework agreement” under the 1951 Mutual Defense Treaty providing for greater access by US forces to Philippine bases and the positioning of equipment at these facilities. Washington is also stepping up participation in ASEAN-based security organizations, sending forces in June to an 18-nation ASEAN Defense Ministers Plus exercise covering military medicine and humanitarian assistance in Brunei. A July visit to Washington by Vietnam's President Truong Tan Sang resulted in a US-Vietnam Comprehensive Partnership, actually seen as a step below the Strategic Partnerships Hanoi has negotiated with several other countries. Myanmar's president came to Washington in May, the first visit by the country's head of state since 1966. An economic agreement was the chief deliverable. While President Obama praised Myanmar's democratic progress, he also expressed concern about increased sectarian violence that the government seems unable (or unwilling) to bring under control.
Topic:: Economics
Political Geography:: Washington, Asia, and Singapore

89. Japan's strategic pivot south: diversifying the dual hedge

Author:: Corey J. Wallace
Publication Date:: 11-2013
Content Type:: Journal Article
Journal:: International Relations of the Asia-Pacific
Institution:: Japan Association of International Relations
Abstract:: Tensions between Japan and its neighbors pose a significant problem for the viability of Japan's strategic 'dual hedge' between China and the United States. Japan's response has been to embrace renewed US commitment to the region while initiating comprehensive strategic partnerships in military, economic, and political spheres with nations 'south' of its traditional domain of strategic interest. Strengthened relationships with Southeast Asian nations, India, and Australia may turn out to be crucial for Japan as it will enable Japan to manage its security affairs without having to depart from its long-cultivated maritime security policy, and will enable Japan to continue to pursue a neo-mercantilist economic policy while also supporting the socioeconomic development of other regional players essential for future multipolar balance. Japan's diplomatic activities provide a useful 'strategic contrast' with China that will likely ensure Japan is accepted in the region. Japan's strategic pivot is also domestically sustainable and, therefore, deserves scholarly attention.
Topic:: Economics
Political Geography:: United States, Japan, China, India, Asia, and Australia

90. Regionalism in Asia as Disguised Multilateralism: A Critical Analysis of the East Asia Summit and the Trans-Pacific Partnership

Author:: David Camroux
Publication Date:: 03-2012
Content Type:: Journal Article
Journal:: The International Spectator
Institution:: Istituto Affari Internazionali
Abstract:: Revolving around the concept of 'Community' or 'community', debate on an Asian region has ostensibly pitted those who proposed an entity limited to East Asia (China, Japan, South Korea and the ten countries of the Association of South East Asian Nations, ASEAN) against those who proposed a much wider region embracing India, North (and, perhaps, South) America, as well as Australasia. Previously these two conceptualisations possessed their eponymous translation in the East Asian Economic Caucus (reincarnated as ASEANþ3) and the Asia Pacific Economic Cooperation forum. However, with the creation in 2005 of the East Asian Summit to include India, Australia and New Zealand and, above all, its 2011 enlargement to include the United States and Russia, the contrast between the two conceptualisations of an Asian region has become confused. In order to explain this development, this article suggests that the language of 'region' or 'community' is a discursive smokescreen disguising changes in approaches to multilateralism. An examination of the East Asia Summit, contrasting it with another recent regional project, the Trans Pacific Partnership, suggests that the actors involved are seeking to ensure the primacy of individual nation states in intergovernmental multilateral relations.
Topic:: Development and Economics
Political Geography:: China, America, India, East Asia, Asia, and Australia

91. Assessing the Asia Pivot

Author:: Walter Lohman
Publication Date:: 06-2012
Content Type:: Journal Article
Journal:: The Journal of International Security Affairs
Institution:: Jewish Institute for National Security Affairs
Abstract:: In the course of two months in the fall of 2011, the President and his administration—particularly the Secretary of State—conducted a political and diplomatic offensive to prove American staying power in Asia. It marked a 180-degree turn from where the White House had begun three years earlier. The fall offensive began with the long-awaited passage of the Korea-U.S. FTA (KORUS), an agreement of major economic importance. After years of accumulated opportunity costs, in October, the administration finally pushed the agreement forward and arranged for South Korean President Lee Myun-bak to be in Washington for the occasion of its passage. Secretary of State Hillary Clinton framed the new approach in her November “America's Pacific Century” speech, wherein she declared the Administration's “Asia Pivot.”1 President Obama gave the approach authority and economic substance at APEC, where the U.S. secured a game-changing commitment from Japan to join the Transpacific Partnership trade pact (TPP). The President then embarked on his third visit to the Asia Pacific. In Australia, he announced new training rotations of up to 2,500 U.S. Marines through Australia's northern shore, a move with obvious implications for the security of our allies and sea lanes, and in Indonesia, he became the first American president to participate in the East Asian Summit (EAS). At the EAS meeting of 18 regional leaders, President Obama raised the importance of maritime security and freedom of navigation and “expressed strong opposition to the threat or use of force by any party to advance its territorial or maritime claims or interfere in legitimate economic activity”—thereby tying American interests to regional concerns about China. For her part, Secretary Clinton headed to Manila to commemorate the 60th anniversary of the U.S.-Philippines Mutual Defense Treaty (MDT)—and then on to America's other treaty ally in Southeast Asia, Thailand. In Manila Bay, she signed a reaffirmation of the U.S.-Philippines MDT on the deck of a U.S. Navy destroyer and essentially declared America ready to “fight” for the Philippines. She also announced the dispatch to Manila of the second (of what will likely be four) refurbished coast guard cutters. En route to Indonesia, President Obama phoned long-suffering Burmese human rights icon Aung San Suu Kyi to get her blessing for a Burma visit from Secretary Clinton. Clinton arrived in Burma by the end of November, meeting Suu Kyi and the Burmese president and beginning a careful, “action for action” process of normalization that could have major implications for the U.S. strategic position in the region. The Chinese have long taken advantage of Burma's isolation from the U.S. If Burmese political reform proves to be real, it will offer an opportunity for the U.S. to reassert itself there. It will also remove a roadblock in America's relationship with the Association of Southeast Asian Nations (ASEAN) with which it has long disagreed on Burma. A democratic Burma would tip the scales in ASEAN—a hodgepodge of governing systems—in favor of democracy, a state of play that improves the sustainability of American engagement.
Topic:: Security, Economics, and Human Rights
Political Geography:: Afghanistan, Japan, America, Washington, Asia, Australia, and Korea

92. Global Poverty Amid Global Plenty: Getting Globalization Right

Author:: Dani Rodrik
Publication Date:: 05-2012
Content Type:: Journal Article
Journal:: Americas Quarterly
Institution:: Council of the Americas
Abstract:: To lift their people out of poverty, nations need to enter the global economy.
Topic:: Economics, Education, and Government
Political Geography:: Japan, China, and Asia

93. Going Places?

Author:: Barbara Kotschwar
Publication Date:: 10-2012
Content Type:: Journal Article
Journal:: Americas Quarterly
Institution:: Council of the Americas
Abstract:: Asia leads Latin America in infrastructure.
Topic:: Development and Economics
Political Geography:: China, Asia, and Latin America

94. Is the Twin Deficits Hypothesis Valid in the case of Turkey?

Author:: Fuat Sekmen and Unsal Ozan Kahraman
Publication Date:: 12-2012
Content Type:: Journal Article
Journal:: Bilgi
Institution:: Sakarya University (SAU)
Abstract:: This study deals with the relationship between the current account deficit and the budget deficit in Turkey. Artificial Neural Networks are employed to investigate this relationship. According to the results of the application the twin deficits hypothesis which indicates a positive correlation between the two deficits isn’t valid in Turkey. As this paper tries to analyze the factors accounting for the absence of this kind of correlation, it develops a flexible understanding which doesn’t refuse a hypothesis or a theory (the twin deficits hypothesis) completely, on the contrary, emphasizes the importance of investigating the conditions in which a hypothesis, theory or a model is valid.
Topic:: Economics, Budget, Finance, and Deficit
Political Geography:: Europe, Turkey, and Asia

95. From “Cardinal Sin” to Policy Agenda? The Role of Capital Controls in Emerging Market Economies

Author:: June Park
Publication Date:: 04-2012
Content Type:: Journal Article
Journal:: Joint U.S.-Korea Academic Studies
Institution:: Korea Economic Institute of America (KEI)
Abstract:: Korea’s economic development since the 1980s has occurred in the context of capital controls and a strong governmental role in achieving sustained growth. The experiences of two financial crises—the Asian financial crisis (1997–98) and the global financial crisis (2008–09)—confirm the impression of a highly responsive state, although different pictures emerge as to how the Korean government sought to abolish or deploy capital controls in accordance with global consensus and intellectual trends in international political economy. Contrary to the policies of financial liberalization by the Korean government in the aftermath of the Asian financial crisis, the Korean government shifted to a policy direction favoring capital controls following the global financial crisis, as seen in recent Group of 20 proclamations. However, given the necessity of capital inflows for an outward-oriented economy such as Korea’s, which is heavily dependent on foreign capital inflows for investment, it is questionable to what extent Korea can effectively take advantage of capital controls, what the goals of such controls should be, whether there will be strong political backing for implementation of such policies, and what political risks the current government faces in implementing new capital controls. This paper seeks to provide answers to these questions by examining Korea’s initiatives for capital controls in light of its history and the surge of capital inflows to emerging market economies since the global financial crisis.
Topic:: Development, Economics, Markets, and Domestic Policy
Political Geography:: Asia and South Korea

96. The Dollar’s Influence in East Asia: Benevolent or Overbearing? A Comparative Answer in the U.S. Economic Aid and the Dollar Standard

Author:: Gloria Koo
Publication Date:: 04-2012
Content Type:: Journal Article
Journal:: Joint U.S.-Korea Academic Studies
Institution:: Korea Economic Institute of America (KEI)
Abstract:: There is no doubt that the United States has been a dominant economic power in the world. U.S. troops are deployed in the various corners of the world, and their military presence is often a strong force in propping up the status quo or a peaceful co-existence, possibly and hopefully more peaceful than otherwise. The U.S. has held an important role in the international system as a military power. But also in an economic sense, the U.S. has been a dominant leader. As a major consumer market and an investor, U.S. influence on the global economy is significant to say the least. This is especially true in East Asia. Through military alliance and economic aid, the U.S. crafted close relationships with East Asian countries and influenced their domestic policymaking. For example, as a provider of military and economic stability, the U.S. wielded much influence on domestic macroeconomic policies of Korea and Taiwan during the early industrialization years of 1950s-60s. The economic aid came with conditions, and Korea and Taiwan complied. Although explicit economic aid stopped in the late 1960s, other forms of assistance, for example loans, grants and technology transfers continued, and more importantly security alliances remained strong. The U.S. still holds much influence over Korea and Taiwan, as a military ally and a major trade partner. In the present day, Korea and Taiwan closely peg their currencies to the U.S. dollar and hold large currency reserves in dollars. As a result, macroeconomic stability of Korea and Taiwan depends largely on the stability of the dollar. In this way, the dollar’s influence on Korea and Taiwan is quite significant. Similar to but also different from the way that Korea and Taiwan depended on U.S. economic aid, they again depend on the dollar to anchor economic stability.
Topic:: International Relations, Economics, Investment, Currency, and Economic Stability
Political Geography:: Taiwan, Asia, South Korea, and United States of America

97. Nothing to be Afraid of? North Korean Political Economy and Economic Reform

Author:: Ian E. Rinehart
Publication Date:: 04-2012
Content Type:: Journal Article
Journal:: Joint U.S.-Korea Academic Studies
Institution:: Korea Economic Institute of America (KEI)
Abstract:: Democratic People’s Republic of Korea (DPRK) President Kim il-Sung explained to his counterpart Erich Honecker, President of the German Democratic Republic, in 1977 that building socialism in the DPRK is the foundation for establishing a new social order in the entire nation.1 Socialist principles have guided the North Korean political economy since the country was established after World War II. The 1972 constitution repeatedly stressed the achievement of “true socialism” as a goal and declared that the DPRK “exercises the dictatorship of the proletariat.”2 In the North Korean system, urban residents received monthly rations for household goods distributed at nominal prices, while workers on agricultural cooperatives and state farms received consumer goods in return for agricultural output sold to the state at an artificially low price. The government’s top-down central planning set production-based targets for factories and farms.
Topic:: Economics, Political Economy, Politics, and Reform
Political Geography:: Asia and North Korea

98. Australia-US Alliance Enhanced as Economies Decouple

Author:: Graeme Dobell
Publication Date:: 09-2011
Content Type:: Journal Article
Journal:: Comparative Connections
Institution:: Center for Strategic and International Studies
Abstract:: Australia has a close alliance with the US and deep emotional and cultural ties, but the new reality is that the two economies have decoupled. Twice in the past decade the US has gone into recession, but Australia has kept growing; that is a huge change from the 20th-century experience when Australia's fortunes were closely tied to the health of the US economy. Asia now sets Australia's economic temperature, even as the Australian military draws closer to the US through parallel reviews of the posture of their defense forces.
Topic:: Economics
Political Geography:: United States, Asia, and Australia

99. Cooperation, Competition, and the Search for Community: Asia's New Multilateralism

Author:: Sheldon W. Simon
Publication Date:: 09-2011
Content Type:: Journal Article
Journal:: International Relations of the Asia-Pacific
Institution:: Japan Association of International Relations
Abstract:: A successful edited volume not only requires that the editors recruit qualified specialists for each chapter but also that those editors integrate the separate analyses so that the book displays a coherence beyond the sum of its individual parts. Michael Green and Bates Gill have succeeded admirably on both dimensions: enlisting renowned Asian country specialists and experts on the various types of cooperation that characterize Asian multilateralism. Moreover, their Introduction illuminates how these types relate to one another. Over the past 45 years, Asia has experienced a plethora of multilateral political, economic, and security arrangements – some long-lived and well-institutionalized (ASEAN) and others formed to deal with a specific situation such as the Core Group that provided aid to those countries devastated by the December 2004 tsunami. There is considerable overlap in states ' memberships among these bodies, though they tend to group in a Southeast Asian-led formation centered in ASEAN and a Northeast Asian coterie dealing with North Korea in the Six-Party Talks. An additional transnational dimension may be found in nontraditional security such as infectious diseases, criminal and terrorist activities, piracy and human trafficking, all of which cross national boundaries and are generally seen by Asian states as susceptible to cooperative action. Traditional, hard security concerns – territorial disputes, historical animosities, and resource conflicts – on the other hand, though discussed in a number of multilateral settings, produce a great deal of rhetoric but very little resolution. Another concern, especially for great powers such as the United States and India, is whether East Asian multilateral groups will be inclusive or exclusive – trans-Pacific or Asia only.
Topic:: Economics, Globalization, and National Security
Political Geography:: United States, Japan, and Asia

100. Energy Interests of the 'Great Powers' in Central Asia: Cooperation or Conflict?

Author:: Shamil Midkhatovich Yenikeyeff
Publication Date:: 09-2011
Content Type:: Journal Article
Journal:: The International Spectator
Institution:: Istituto Affari Internazionali
Abstract:: The geographic proximity of Central Asia to Russia, China, the Caucasus and the Caspian region, as well as to the Middle East, makes this oil and gas-producing region a crucial and ever-developing player in regional and global energy markets. The method by which Central Asian producers choose to develop their hydrocarbon resources and export infrastructure will have significant implications for the plans for diversification of oil and gas supplies of Europe, China and India, as well as for Russia's energy exports to Europe. It is still too early to tell whether the economic and political incentives are strong enough to promote cooperation between the various actors or whether the energy interests of these key external powers are so diverse as to clash in Central Asia.
Topic:: Economics
Political Geography:: Russia, China, Europe, Central Asia, and Asia

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COLUMBIA UNIVERSITY PRESS