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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 Publication Year within 5 Years Remove constraint Publication Year: within 5 Years Topic Political Economy Remove constraint Topic: Political Economy
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  • Author: Dinshaw Mistry
  • Publication Date: 01-2016
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: In the early and mid-2000s, US policymakers anticipated India becoming one of America's top global partners. Have New Delhi's policies on key strategic issues actually aligned strongly with US objectives, as would be typical of close partners? An analysis of twelve prominent issues in US-India relations indicates that New Delhi's policies mostly converged moderately, rather than to a high extent, with US objectives. Specifically, the alignment between New Delhi's policies and US objectives was high or moderate-to-high on three issues—UN peacekeeping, nonproliferation export controls, and arms sales. It was moderate or low-to-moderate on six issues—China, Iran, Afghanistan, Indian Ocean security, Pakistan, and bilateral defense cooperation. And it was low or negligible on three issues—nuclear reactor contracts for US firms, nuclear arms control, and the war in Iraq. To be sure, despite the low or negligible convergence, New Delhi did not take an anti-US position on these issues. Four factors explain why New Delhi's policies aligned unevenly with US objectives across the issues: India's strategic interests (that diverged from US interests on some issues); domestic political and economic barriers (that prevented greater convergence between India's policies and US objectives); incentives and disincentives (that induced New Delhi to better align with US objectives); and certain case-specific factors. This analysis suggests that, rather than expecting India to become a close ally, US policymakers should consider it a friendly strategic partner whose policies would align, on the average, moderately with US strategic interests.
  • Topic: Conflict Resolution, Arms Control and Proliferation, Nuclear Weapons, Political Economy, Peacekeeping
  • Political Geography: India, Asia
  • 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: 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: 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