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  • Author: Sean P. Connell
  • Publication Date: 01-2014
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: The Korean government's "creative economy" agenda reflects growing consensus that Korea's future growth and prosperity depends on its ability to become a global leader in developing and commercializing innovative new products, services, and business models. To succeed, the Korean government must address regulatory, structural, educational, and cultural obstacles that have constrained Korea's ability to fully utilize its innovative capacities. This new emphasis on innovation brings Korea into closer alignment with the United States, which has long focused on innovation in its growth strategies. Moreover, it comes during the early stages of implementation of the US-Korea Free Trade Agreement (KORUS), which intersects with important areas of Korea's innovation framework policies. Policymakers, businesses, and researchers in both countries should examine potential new opportunities to increase cooperation around initiatives aimed at fostering innovation and growth, both within the bilateral context and at a global level.
  • Topic: Economics, Industrial Policy, International Trade and Finance, Treaties and Agreements, Bilateral Relations
  • Political Geography: United States
  • 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: Jeong Yeon Lee
  • Publication Date: 03-2014
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: Multi-factor productivity (MFP) compares the growth of gross domestic product with the growth of combined capital and labor inputs. The growth rate of MFP assumes theoretical significance because it represents the slope of the steady-state growth path, and hence is a major determinant of the long-term growth trend. This paper offers the balanced panel of the estimated growth rates of MFP for 24 OECD countries over 1986-2011. Based on the estimates of MFP growth, a number of notable trends in productivity growth are identified for the entire OECD area as well as three major economies – the United States, the Eurozone and Japan – within the OECD.
  • Topic: Economics, Industrial Policy, International Trade and Finance, Labor Issues
  • Political Geography: United States, Japan, Europe
  • Author: Francis X. Hezel
  • Publication Date: 09-2013
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: Is out-migration an admission of a Pacific Island nation's failure to fulfill its economic promise and provide the jobs that its citizens seek in a modernized society? Or is it a legitimate alternative strategy for development, through the export of surplus labor, in lieu of the more conventional methods recommended by donor nations and international financial institutions? In this paper, Francis X. Hezel, SJ, reviews the 30-year history of migration from one Pacific Island nation, the Federated States of Micronesia (FSM), and examines the current status of its migrants with an eye to shedding light on this question.
  • Topic: Development, Economics, Migration, Immigration
  • Political Geography: United States, Israel, Australia/Pacific
  • Author: Philip Shetler-Jones
  • Publication Date: 05-2012
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: During his recent visit to Japan, British Prime Minister David Cameron signed a landmark defense cooperation agreement with Japanese Prime Minister Yoshihiko Noda making the United Kingdom Japan's only defense technology partner after the United States. The agreement comes just months after Japan relaxed its post-World War II restrictions on its participation in international research, development and trade in defense equipment. There are few publicly-available specifics on the deal, but official statements from Tokyo suggest the plan is to start small and slowly increase cooperation. Artillery and tank technology has been mentioned; along with helicopters, mine detection and chemical protection suits.
  • Topic: Defense Policy, Arms Control and Proliferation, Science and Technology, Treaties and Agreements, War, Biosecurity, Bilateral Relations
  • Political Geography: United States, Japan, Tokyo
  • 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: 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
  • Author: Nick Bisley
  • Publication Date: 04-2012
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: US Assistant Secretary of State Kurt Campbell has just completed a lightning visit to Australia for formal discussions with newly installed Foreign Minister Bob Carr. In spite of the political turmoil that brought Carr to office, the Australia-US alliance is in the best shape of its 60-year history. Having begun as a Cold War convenience, about which the United States was not enthusiastic, it has become a key part of Washington's regional role and a cornerstone not only of Australia's defense and security policy, but of its broader engagement with the world. The arrival in early April of the US Marine Corps to begin six-month training rotations in Darwin is emblematic of the alliance's standing and its evolution.
  • Topic: Security, Defense Policy, Arms Control and Proliferation, Cold War, Diplomacy, Bilateral Relations
  • Political Geography: United States, Washington, Asia, Australia/Pacific
  • Author: Michael McConnell
  • Publication Date: 03-2012
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: ASEAN countries have long been an important international market for US agricultural exports. The United States, in 2011, exported almost $9.6 billion of agricultural products to ASEAN, making it the sixth-largest export destination for US farmers, ranchers, and agribusinesses—behind Japan ($14 billion) and just behind the European Union ($9.6 billion), but well ahead of South Korea ($7 billion). Moreover, the value of agricultural trade between the United States and ASEAN almost doubled between 2007 and 2011, with the top four ASEAN markets in 2011 for the United States being Indonesia ($2.8 billion), the Philippines ($2.1 billion), Vietnam ($1.7 billion), and Thailand ($1.3 billion). With a population of 614 million and strong economic growth, it is expected that ASEAN will continue to be an important market for US agricultural products. However, the United States is likely to face increasing competition, particularly from China, Australia, and New Zealand, all of which have free trade agreements (FTAs) with ASEAN.
  • Topic: Agriculture, Demographics, Economics, International Trade and Finance, Markets, Food
  • Political Geography: United States, China, Europe, East Asia, South Korea, Australia, Southeast Asia, New Zealand