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You searched for: Content Type Policy Brief Remove constraint Content Type: Policy Brief Publishing Institution East-West Center Remove constraint Publishing Institution: East-West Center Political Geography Asia Remove constraint Political Geography: Asia Topic International Trade and Finance Remove constraint Topic: International Trade and Finance
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  • Author: Marcus Noland
  • Publication Date: 11-2015
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: Unconventional monetary policy (UMP) has had predictable effects. How exit plays out is scenario-dependent. Quantitative easing has had the predictable effect of encouraging currency depreciation and some partner countries may have attempted to offset these exchange rate effects. Korea presents a particularly interesting case: it is relatively small and relatively open and integrated, in both trade and financial terms, with the United States and Japan, two practitioners of UMP. Authorities have acted to limit the won's appreciation primarily against the currency of China, not the US or Japan. Nevertheless, Korea's policy is a source of tension with the US. Under legislation currently being considered, the currency manipulation issue could potentially interfere with Korean efforts to attract direct investment from the US and create an obstacle to Korea joining the Trans-Pacific Partnership.
  • Topic: Economics, International Trade and Finance, Political Economy, Monetary Policy, Foreign Direct Investment
  • Political Geography: Asia
  • Author: Jon Dorsch
  • Publication Date: 09-2015
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: At the end of 2015 the Association of Southeast Asian Nations (ASEAN) will announce the establishment of the ASEAN Economic Community (AEC). In theory, this agreement should produce an association-wide economic integration. However, following the announcement, and for the foreseeable future, ASEAN member states will continue in significantly less than full regional economic integration. Why? Some observers believe that the AEC plans involve an "overly ambitious timeline and too many ill-thought-out initiatives." Others point to ASEAN's traditional aversion to legally binding agreements. While progress has been made in reducing or eliminating intra-ASEAN trade tariffs, substantial non-tariff barriers to trade persist. However, for most member states, the ASEAN market is relatively small while external markets, especially China, are growing rapidly. Given this outward-orientation for ASEAN trade, is the lack of an unhindered regional market really a problem?
  • Topic: Economics, International Trade and Finance, Markets
  • Political Geography: China, Asia
  • Author: Peter A. Petri, Michael G. Plummer
  • Publication Date: 03-2014
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: ASEAN has become a focal point of the rapidly changing economic architecture of the Asia-Pacific region. ASEAN members are increasingly stable and politically confident, and constitute an emerging economic powerhouse. The region is dynamic, with 600 million citizens and a gross domestic product (GDP) that exceeds $2 trillion and is expected to grow 6 percent annually for the next two decades. (The Appendix at the end of this paper reports detailed output and trade projections to 2025.) Through deeper internal integration via the ASEAN Economic Community (AEC) and external initiatives such as the Regional Comprehensive Economic Partnership (RCEP), ASEAN is becoming a driving force in regional cooperation and a much-courted economic partner. The AEC and the RCEP projects are globally significant: the AEC could generate powerful demonstration effects for other developing regions, and the RCEP could become an important building bloc of the multilateral trading system.
  • Topic: Security, Economics, International Trade and Finance, Markets
  • Political Geography: United States, East Asia, Asia, Asia-Pacific
  • Author: Luke Simon Jordan, Katerina Koinis
  • Publication Date: 04-2014
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: Despite the region's economic growth over the last few decades, countries across Asia still face the complex challenge of structural transformation. Low-income economies must build formal industrial and service sectors from agricultural and informal bases; middle-income economies must move up the value chain; and high-income economies must continually generate new capabilities at the frontier of innovation.
  • Topic: Development, Economics, Industrial Policy, International Trade and Finance
  • Political Geography: Asia
  • Author: Charles E. Morrison
  • Publication Date: 10-2014
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: In the past quarter-century Asia has seen vast changes, including increased economic growth, integration, and liberalization. The Asia Pacific Economic Cooperation (APEC) process, now marking its 25th anniversary, facilitated these changes through its institution of the first regular meetings of ministers and then leaders. But what role should APEC play in the future? With a continuing diffusion of power, what was once hailed as an imminent "Asian century" is much more likely to be a global one. This international system, however, will have a trans-Pacific core with much of the economic power and potential to provide global leadership for the further development of international norms, rules, and cooperation. Thus, we may be able to refer to an "Asia-Pacific century." Two questions arise: Is North America, with a relatively small share of global population and a declining share of global world product, still relevant? Will the nations on the two sides of the Pacific really be able to use their power effectively to assume global leadership? The answer to the first of these is "yes," and to the second, "it depends."
  • Topic: Economics, International Cooperation, International Political Economy, International Trade and Finance
  • Political Geography: Asia
  • Author: Robert Sutter
  • Publication Date: 02-2012
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: As Sino-American competition for influence enters a new stage with the Obama administration's re-engagement with Asia, each power's legacies in the region add to economic, military and diplomatic factors determining which power will be more successful in the competition. How the United States and China deal with their respective histories in regional affairs and the role of their non-government relations with the Asia- Pacific represent important legacies that on balance favor the United States.
  • Topic: Foreign Policy, Arms Control and Proliferation, Diplomacy, Economics, International Trade and Finance, Bilateral Relations
  • Political Geography: United States, China, America, Asia
  • Author: Rajnish Tiwari, Cornelius Herstatt, Mahipat Ranawat
  • Publication Date: 01-2011
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: India's automobile industry has witnessed an impressive run of sus - tained growth in the past two decades. The total number of vehicles produced in fiscal year 1990–91 was only 2.3 million, but by fiscal year 2009–10 this number had swelled to 14.1 million. Similarly, the value of automotive products exported by India was only US$198 million in 1990, but by 2009 the value had increased nearly twenty-five-fold to US$5 billion, representing an average annual growth rate of 26 percent and catapulting India into the league of the top fifteen exporters of automotive products worldwide
  • Topic: Economics, Industrial Policy, International Trade and Finance, Markets
  • Political Geography: India, Asia
  • Author: Michael G. Plummer
  • Publication Date: 10-2009
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: The economic crisis of 2008–09 is the second major crisis in just over a decade that Asia has endured. Unlike the Asian crisis of 1997–98, however, the current crisis originated mainly in the West. Asia's excessive reliance on net exports as the principal driver of economic growth since the 1997–98 crisis rendered it especially vulnerable to external shocks, and most Asian countries have paid dearly. The more open the economy, the more vulnerable it is to such shocks. The newly industrialized Asian economies (Singapore, Hong Kong, South Korea, and Taiwan), which are among the most open and dynamic in the world, are expected to contract by about 6 percent in 2009.
  • Topic: Emerging Markets, International Trade and Finance, Regional Cooperation, Global Recession, Financial Crisis
  • Political Geography: Taiwan, Asia, South Korea, Singapore, Hong Kong
  • Author: Dieter Ernst
  • Publication Date: 08-2009
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: Political debates about globalization are focused on offshore outsourcing of manufacturing and services. But these debates neglect an important change in the geography of knowledge––the emergence of global innovation networks (GINs) that integrate dispersed engineering, product development, and research activities across geographic borders.
  • Topic: Emerging Markets, Globalization, Industrial Policy, International Trade and Finance, Science and Technology
  • Political Geography: Asia
  • Author: Peter A. Petri
  • Publication Date: 10-2008
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: East Asian trade agreements are often described as a complicated "noodle bowl," which shows links in the region as a snarled, overlapping and intertwined mass. But this is a misleading representation--Asia's regional agreements may in fact be creating an order of a different sort, building the foundations for a stronger regional trading system. Asian trade arrangements can be more constructively seen in terms of a trade agreements matrix, in which multiple negotiations produce an orderly progression of agreements to liberalize all potential bilateral relationships and move the region toward a coherent system of freer trade. The various approaches to deeper economic integration--regional arrangements, trans-Pacific agreements, and global engagement--are complementary paths that should eventually lead to an open global trading system. East Asia is of growing importance in the global marketplace, and adopting an aggressive multitrack strategy--as the region appears to be doing--may be the fastest route toward a new global framework.
  • Topic: International Trade and Finance, Treaties and Agreements
  • Political Geography: Israel, Asia