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  • Author: Wei Wang, Gemma Estrada, Jurgen Conrad, Sang-Hyop Lee, Donghyun Park
  • Publication Date: 05-2016
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: As demand from global markets declines, slowing exports of manufactured goods from the People's Republic of China means the country must increasingly rely on domestic markets for growth. Unlike manufactured goods, services—those "intangible" products that include everything from transportation to scientific research to real estate services—are geared more toward domestic markets. Services, then, will be key to the rebalancing process. However, while the service sector has grown rapidly in the PRC, it continues to lag behind other countries at similar stages of development. In addition, the sector is dominated by traditional low-end types of services, rather than knowledge-intensive services. Heavy regulatory burdens, barriers to trade in services, and an unfavorable policy environment have been major obstacles to upgrading the sector and improving its competitiveness. Policy reform should focus on strengthening competition to raise productivity, with the goal of increasing not only the number of jobs and contribution to GDP, but also of positioning the service sector to compete internationally and spur export growth.
  • Topic: International Trade and Finance, Markets, Political Economy, Reform, GDP
  • Political Geography: China
  • Author: Vinod K. Aggarwal
  • Publication Date: 03-2016
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: The rise of a multiplicity of diverse bilateral free trade agreements (FTAs) has led countries to pursue mega-FTAs to manage the growing complexity of global trade arrangements. The US and China are promoting rival accords: the Trans-Pacific Partnership (TPP), which would encompass 800 million people and almost 40 percent of global GDP, is a centerpiece of the Obama Asia Pacific strategy. The Regional Comprehensive Economic Partnership (RCEP) would account for 30 percent of global GDP, with a population of over three billion people, creating the largest FTA in the world. TPP advocates assert that it will strengthen the US’ strategic role in the region, in part by countering China’s membership in the RCEP. These claims, made in response to growing skepticism in the United States about the value of liberalized trade, overemphasize the TPP’s strategic value. At the same time, projecting the economic impact of the TPP is thorny, given the deal’s scope and the diversity of countries involved.
  • Political Geography: China
  • Author: Wei Wang, Gemma Estrada, Jurgen Conrad, Sang-Hyo Lee, Donghyun Park
  • Publication Date: 05-2016
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: As demand from global markets declines, slowing exports of manufactured goods from the People's Republic of China means the country must increasingly rely on domestic markets for growth. Unlike manufactured goods, services—those "intangible" products that include everything from transportation to scientific research to real estate services—are geared more toward domestic markets. Services, then, will be key to the rebalancing process. However, while the service sector has grown rapidly in the PRC, it continues to lag behind other countries at similar stages of development. In addition, the sector is dominated by traditional low-end types of services, rather than knowledge-intensive services. Heavy regulatory burdens, barriers to trade in services, and an unfavorable policy environment have been major obstacles to upgrading the sector and improving its competitiveness. Policy reform should focus on strengthening competition to raise productivity, with the goal of increasing not only the number of jobs and contribution to GDP, but also of positioning the service sector to compete internationally and spur export growth.
  • Topic: Economics, Markets, Reform, GDP
  • Political Geography: China
  • Author: Boy Lüthje, Christopher A. McNally
  • Publication Date: 10-2015
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: The global financial crisis of 2008-09 led to a policy consensus in China that its socioeconomic development model needed rebalancing. China's rapid development has been based on extensive growth reliant on exports, low wages, environmental exploitation, and the manufacturing of cheap products. China's current plans identify paths to economic rebalancing through intensive growth driven by rising investment in new technologies and manufacturing processes, improved wages and skills, and improved worker and environmental protections. Two industries, automotive and information technology, demonstrate the experience of and opportunities for rebalancing. Both offer improved employment conditions with better wages, but continue to incorporate large swaths of low-wage employment with little protection for workers' health and the environment. Economic rebalancing in China, therefore, has so far only appeared in pockets. Institutional safeguards for wages and labor standards remain constrained by powerful alliances among multinational corporations, Chinese state-owned/private enterprises, and the Chinese state.
  • Topic: Economics, Political Economy, Labor Issues, Financial Crisis
  • Political Geography: China
  • 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: James Leibold
  • Publication Date: 09-2013
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: Balancing ethnocultural diversity and dignity with national integration and interethnic cohesion has been a constant challenge for Chinese policymakers. With a sizeable ethnic minority population, China has long been engaged in this delicate balancing act. Despite episodic conflict, it could be argued that the Communist Party of China (CPC) has, especially since the 1976 death of Mao Zedong, done a relatively competent job of containing ethnic tensions.
  • Topic: Ethnic Conflict, Human Rights, Human Welfare, Governance
  • Political Geography: China, Israel
  • Author: Jane Nakano
  • Publication Date: 05-2012
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: The United States, Japan, and the European Union—the three key consumers of Chinese rare earth materials—formally complained to the World Trade Organization (WTO) in March about Chinese restrictions on its rare earth exports. Several weeks later, China announced the establishment of a 150-plus member association with the official aim of promoting sustainable development within this sector. Some analysts wonder if this is part of a Chinese plan to circumvent international complaints by instituting an oligopolistic arrangement to control its rare earth exports. Others ask if this could be another step in an escalating dispute with China over the global supply of rare earth materials.
  • Topic: International Relations, Development, International Trade and Finance, Markets, Natural Resources
  • Political Geography: United States, Japan, China, Europe
  • Author: Yogesh Joshi
  • Publication Date: 04-2012
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: US President Barack Obama used his 2012 State of the Union speech to explain that evolving geopolitical realities continue to make the United States indispensable in global politics. In the Asia-Pacific this indispensability emanates, in part, from the waves caused by the rise of China. Consequently, demands for an increased US presence echo around the region. In response, the United States has renewed its commitments to Japan, South Korea and Australia, stepped up its relations with Southeast Asia, and reasserted itself as an important player in multilateral institutions including the East Asia Summit, APEC, and ASEAN. Clearly, in the 21st century, US strategic focus has shifted from the Atlantic Ocean to the Pacific and Indian Oceans.
  • Topic: Foreign Policy, Defense Policy, International Security, Power Politics
  • Political Geography: United States, Japan, China, India, South Korea, Australia, Southeast Asia
  • Author: John Lee
  • Publication Date: 04-2012
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: In a recent online article in Foreignpolicy.com, regular columnist and head of the Economic Strategy Institute, Clyde Prestowitz, argued that the next president of the World Bank should be Zhou Xiaochuan, Chairman of the People's Bank of China. For Prestowitz, it was not just Zhou's excellent credentials that made him ideal for the position, but also the fact that he is Chinese. China is accurately accused of “gaming” the global economic liberal order through its currency policies, restricted market access for outside firms and governments, and internal intervention in the economy to the detriment of foreign firms. But Prestowitz believes that such an appointment would significantly encourage China to behave as a “responsible stakeholder.” Behind this thinking is the argument that the more power, prestige, and authority China accumulates within the existing order, the more liberal Chinese economic policies will become.
  • Topic: Democratization, Economics, International Trade and Finance, Markets, Monetary Policy
  • Political Geography: China
  • Author: Masako Ikegami
  • Publication Date: 04-2012
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: As North Korea's latest rocket-missile launch approaches, there is speculation whether Beijing can halt Pyongyang's missile ambitions. In my view, Beijing will turn a blind eye towards North Korea's latest provocation, while simultaneously calling for restraint by all parties. Recently, the China-North Korea “blood alliance,” a concept of allies that originated during the Korean War, has been renewed, and it is in China's interests that North Korea consolidates its “absolute deterrence” capability to deter US forces in the region.
  • Topic: Foreign Policy, Defense Policy, Arms Control and Proliferation, Nuclear Weapons, Bilateral Relations
  • Political Geography: United States, China, North Korea