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102. A Regional Approach to WMD Nonproliferation in the Asia-Pacific
- Author:
- Togzhan Kassenova
- Publication Date:
- 08-2012
- Content Type:
- Policy Brief
- Institution:
- Carnegie Endowment for International Peace
- Abstract:
- The Asia-Pacific region epitomizes the type of proliferation challenges the international community faces. Globalization turned the region into one of the most important international trade hubs, the home to leading dual-use companies, and the anticipated site of the world's most significant growth in nuclear energy. While those trends are beneficial, they also create new sources of weapons of mass destruction (WMD) proliferation.
- Topic:
- Arms Control and Proliferation, Development, Economics, International Trade and Finance, Markets, Weapons of Mass Destruction, and Nuclear Power
- Political Geography:
- Asia and Australia
103. China’s Energy Security Dilemma
- Author:
- Jenny Lin
- Publication Date:
- 02-2012
- Content Type:
- Policy Brief
- Institution:
- Project 2049 Institute
- Abstract:
- China’s “economic miracle” and its energy dilemma stem from the Chinese Communist Party’s (CCP) 30 year old policy to achieve “wealth for country first.” Beijing has bundled economic development, energy, science & technology-related policies as matters of national security. As a result, China’s current sense of energy and economic insecurity may be analyzed as a product of its decades-long off-balanced policies towards development.
- Topic:
- Economics, Energy Policy, National Security, Science and Technology, Economic Development, and Chinese Communist Party (CCP)
- Political Geography:
- China and Asia
104. Regional Development Banks (ABCs of the IFIs Brief)
- Author:
- Jenny Ottenhoff
- Publication Date:
- 09-2011
- Content Type:
- Policy Brief
- Institution:
- Center for Global Development
- Abstract:
- The regional development banks (RDBs) are multilateral financial institutions that provide financial and technical assistance for development in low- and middle-income countries within their regions. Finance is allocated through low-interest loans and grants for a range of development sectors such as health and education, infrastructure, public administration, financial and private-sector development, agriculture, and environmental and natural resource management. The term RDB usually refers to four institutions:
- Topic:
- Development, Economics, Foreign Aid, and Foreign Direct Investment
- Political Geography:
- Africa, Europe, and Asia
105. Leadership Selection at the International Financial Institutions
- Author:
- Jenny Ottenhoff
- Publication Date:
- 09-2011
- Content Type:
- Policy Brief
- Institution:
- Center for Global Development
- Abstract:
- The International Financial Institutions (IFIs) are multilateral agencies. The term typically refers to the International Monetary Fund (IMF), which provides financing and policy advice to member nations experiencing economic difficulties, and the multilateral development banks (MDBs), which provide financing and technical support for development projects and economic reform in low- and middle-income countries. The term MDB is usually understood to mean the World Bank and four smaller regional development banks: African Development Bank (AfDB). Asian Development Bank (ADB). European Bank for Reconstruction and Development (EBRD) Inter-American Development Bank (IDB).
- Topic:
- Development, Economics, International Monetary Fund, Foreign Aid, and World Bank
- Political Geography:
- Africa, America, Europe, and Asia
106. Turkey and Taiwan: The Relationship Seeking Its Ground
- Author:
- Selçuk Çolakoglu and Arzu Güler
- Publication Date:
- 01-2011
- Content Type:
- Policy Brief
- Institution:
- International Strategic Research Organization (USAK)
- Abstract:
- In the pre-1971 period, "One China" for Turkey was the Republic of China in Taiwan and the two countries were in cooperation against communist expansion. However, in 1971, though being reluctant for the expulsion of Taiwan from the United Nations, Turkey recognized People's Republic of China as the sole legal representative of China and pursued the "One China" policy in that respect. Thus, in the post-1971 period, Turkey's relations with Taiwan have continued only in terms of economy, trade and culture without recognizing it as an independent political unit. Beginning from early 1990s, Turkey began to take initiatives to increase its trade cooperation with Taiwan.
- Topic:
- Foreign Policy, Economics, International Trade and Finance, Bilateral Relations, and Culture
- Political Geography:
- China, Turkey, Taiwan, Asia, and United Nations
107. Toward Greater Pragmatism? China\'s Approach to Innovation and Standardization
- Author:
- Dieter Ernst
- Publication Date:
- 08-2011
- Content Type:
- Policy Brief
- Institution:
- University of California Institute on Global Conflict and Cooperation (IGCC)
- Abstract:
- China\'s innovation policy and its perceived threat to American innovation and competitiveness is a hot topic in U.S.-China economic relations. The role of standardization, together with intellectual property rights and government procurement, are at the center of this conflict. Fundamental differences in their levels of development and economic institutions lead to quite different approaches to standards and innovation policy by the two countries. China\'s strategy of pursuing indigenous innovation based on local standards faces internal challenges in trying to bring together a diverse group of stakeholders with conflicting interests, as well as external pressures to adopt international standards. Enhanced cooperation on standards and innovation policies should be possible, once the United States and China accept that, while their economic and innovation systems are different, they are deeply interdependent. Both sides would benefit, creating new Chinese markets for American firms and easing technology licensing restrictions for Chinese firms.
- Topic:
- Economics, International Trade and Finance, Science and Technology, and Bilateral Relations
- Political Geography:
- United States, China, America, Asia, and North America
108. China in the Pacific: the new banker in town
- Author:
- Fergus Hanson and Mary Fifita
- Publication Date:
- 04-2011
- Content Type:
- Policy Brief
- Institution:
- Lowy Institute for International Policy
- Abstract:
- What is the problem? China is now one of the Pacific\'s major donors. An analysis of its aid program in the region from 2005 to 2009 suggests it is reducing the grant component of its aid and increasing the soft loan proportion. China has pledged over $US 600 million to the Pacific since 2005 and debt burdening will become increasingly pressing as Chinese loans accumulate and the five-year grace periods expire. There appears to have been limited progress improving transparency.
- Topic:
- Economics and International Trade and Finance
- Political Geography:
- China, Asia, and Australia/Pacific
109. Why and how least developed countries can receive more FDI to meet their development goals
- Author:
- Ken Davies
- Publication Date:
- 06-2011
- Content Type:
- Policy Brief
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- The 48 least-developed countries (LDCs), most of them in sub-Saharan Africa and a few in Asia, need foreign direct investment (FDI) to help meet their development targets. The FDI they now receive, although inadequate, is enough to demonstrate that investors see potential in them. It is therefore realistic for LDCs to seek more FDI, but they need to enhance their investment environments to attract it in the much greater quantities required. Donors can help by targeting official development assistance (ODA) on investment in human capital and supporting governance improvements. Meanwhile, LDCs should establish effective investment promotion agencies (IPAs).
- Topic:
- Development, Economics, Poverty, Foreign Aid, and Foreign Direct Investment
- Political Geography:
- Africa and Asia
110. Not (yet) an Energy Revolution. India between Climate Change Mitigation and Development Imperatives
- Author:
- Lidia Puka
- Publication Date:
- 10-2011
- Content Type:
- Policy Brief
- Institution:
- The Polish Institute of International Affairs
- Abstract:
- Indian decisions regarding the country's energy mix have global consequences. For this reason it is of paramount importance whether Indian declarations to take on climate change mitigation efforts could, indeed, mean a shift away from a fossil fuels-dominated energy mix and towards the deployment of renewable energy sources.
- Topic:
- Climate Change, Demographics, Development, Economics, and Energy Policy
- Political Geography:
- Asia
111. Between Revolution and Stagnation: Perspectives for Belarus
- Author:
- Anna Maria Dyner
- Publication Date:
- 08-2011
- Content Type:
- Policy Brief
- Institution:
- The Polish Institute of International Affairs
- Abstract:
- Belarus faces a serious economic and financial crisis, which may have a significant impact on the political transformation of that country. Because of increases in living costs, which are part of the aftermath of the devaluation of the Belarusian ruble and rapidly rising inflation, an explosion of mass public protests is forecast for the autumn. However, it is not expected that the protests will bring about a rapid (pro-European) turn in the political situation in Belarus. Moreover, the weakness of the opposition, which after the presidential election of 2010 became even more divided than before and still has no charismatic leader, is not propitious to radical, pro-European changes.
- Topic:
- Economics, Social Stratification, and Financial Crisis
- Political Geography:
- Europe and Asia
112. Turkey and Democratization in the Arab World: Between an Inspiration and a Model
- Author:
- Karol Kujawa
- Publication Date:
- 08-2011
- Content Type:
- Policy Brief
- Institution:
- The Polish Institute of International Affairs
- Abstract:
- For several months, we have witnessed rapid change in the countries of North Africa. Researchers and politicians have raised questions about the future of Arab countries once the revolution has run its course. Will the new authorities attempt to build a theocratic state or will they follow the example of Turkey and implement democratic reforms? The latter choice is becoming increasingly popular in the Arab world. This article will address the key questions that come up in connection with Turkey and Arab countries, including: the source of Turkey's popularity in the Arab world, what do they have in common, what divides them and, finally, whether Turkey could become a model for Arab countries.
- Topic:
- Democratization, Development, Economics, and Islam
- Political Geography:
- Africa, Turkey, Asia, and Arabia
113. Benevolent Benefactor or Insensitive Regulator? Tracing the Role of Government Policies in the Development of India's Automobile Industry
- Author:
- Rajnish Tiwari, Cornelius Herstatt, and 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, and Markets
- Political Geography:
- India and Asia
114. The Economic Consequences of Shifting Away From Nuclear Energy
- Author:
- Ken Itakura
- Publication Date:
- 12-2011
- Content Type:
- Policy Brief
- Institution:
- Economic Research Institute for ASEAN and East Asia (ERIA)
- Abstract:
- In the aftermath of the devastating nuclear fallout in Japan, there has been a harsh debate surrounding the role of nuclear energy in electricity generation. A changing role will have economic consequences on production, consumption, and international trade. To quantity these effects, we implemented simulations with a global CGE model and database. The simulation results show that reductions in the use of nuclear for electric power generation may have profound negative impacts on the Japanese economy. A nuclear accident at the Fukushima power plant changed the future direction of Japanese energy policy as well as Asian energy policy. These policies are integrated via technological, financial, and nuclear energy knowledge sharing activities within the region. The main objective of this policy brief is to shed some light on the following question: what would be the economic consequences of altering the source of power generation from nuclear to fossil fuels? This Japanese case study offers policy implications for both Japan and the region as a whole.
- Topic:
- Economics, Energy Policy, International Trade and Finance, Economy, and Nuclear Energy
- Political Geography:
- Japan and Asia
115. The Sustainability of China's Recovery from the Global Recession
- Author:
- Nicholas R. Lardy
- Publication Date:
- 03-2010
- Content Type:
- Policy Brief
- Institution:
- Peterson Institute for International Economics
- Abstract:
- China's policy response to the global financial and economic crisis was early, large, and well-designed. Although Chinese financial institutions had little exposure to the toxic financial assets that brought down many large Western investment banks and other financial firms, China's leadership recognized that its dependence on exports meant that it was acutely vulnerable to a global recession. Thus they did not subscribe to the view sometimes described as “decoupling,” the idea that Asian countries could passively weather the financial storm that originated in the United States and other advanced industrial economies. They understood that absent a vigorous policy response China inevitably would suffer from the backwash of a sharp economic slowdown in its largest export markets—the United States and Europe.
- Topic:
- Economics and Financial Crisis
- Political Geography:
- United States, China, Europe, and Asia
116. The Chinese Defense Economy's Long March from Imitation to Innovation
- Author:
- Tai Ming Cheung
- Publication Date:
- 09-2010
- Content Type:
- Policy Brief
- Institution:
- University of California Institute on Global Conflict and Cooperation (IGCC)
- Abstract:
- Since the beginning of the twenty-first century, China's defense science, technology, and innovation (DSTI) system has been vigorously developing a comprehensive set of innovation capabilities that will eventually allow it to join the world's top tier of military technological powers. Ample access to financial, human, and research resources; strong political support; inflows of foreign technologies and know-how; and the introduction of advanced modes of governance, market competition, and management are producing significant progress, although from a low base. But long-term success is far from assured as daunting structural bottlenecks stand in the way, not the least of which is the struggle to overcome a long history of debilitating Socialist central planning.
- Topic:
- Defense Policy, Economics, Markets, Science and Technology, and Governance
- Political Geography:
- China and Asia
117. China's Defense Electronics Industry: Innovation, Adaptation, and Espionage
- Author:
- James Mulvenon and Matthew Luce
- Publication Date:
- 09-2010
- Content Type:
- Policy Brief
- Institution:
- University of California Institute on Global Conflict and Cooperation (IGCC)
- Abstract:
- Contrary to popular perceptions of China as either "technology thief" or "technology superpower," the success of the Chinese defense electronics sector can be attributed to a combination of indigenous innovation, adaptation of foreign technology, and large-scale technology espionage. Advanced defense electronics components and systems play a key role in this revolution in military capability, making it imperative to understand the strengths and weaknesses of the Chinese defense electronics industry and their implications for U.S. interests in the region.
- Topic:
- Economics, Science and Technology, and Military Strategy
- Political Geography:
- United States, China, and Asia
118. Spin-On for the Renaissance? The Current State of China's Nuclear Industry
- Author:
- Jing-dong Yuan
- Publication Date:
- 09-2010
- Content Type:
- Policy Brief
- Institution:
- University of California Institute on Global Conflict and Cooperation (IGCC)
- Abstract:
- China's nuclear industry has undergone rapid growth in recent years and is projected to further expand in the coming decades. Accounting for almost 40 percent of all nuclear reactors either under construction or that have been approved globally, the expansion of China's nuclear capacities has largely been driven by increasing demands for energy to support continued economic growth. Constraints include human resources, fuel supply, and the extent to which China can develop indigenous nuclear power capacities. The role of civil-military integration in this industry is yet to be determined partly as a result of the deliberate decision by Beijing to keep its nuclear weapons segment separate from its civilian operations.
- Topic:
- Economics, Nuclear Weapons, and Nuclear Power
- Political Geography:
- China and Asia
119. Defense Innovation and Industrialization in South Korea
- Author:
- Chung-in Moon and Jae-Ok Paek
- Publication Date:
- 09-2010
- Content Type:
- Policy Brief
- Institution:
- University of California Institute on Global Conflict and Cooperation (IGCC)
- Abstract:
- South Korea's defense industrial transformation has been impressive by any standard. It was able to satisfy most of its basic weapons needs within a decade after launching its defense industry. Since the late 1990s, South Korea has been elevated from a third-tier arms producer to the second tier by moving from the stage of imitation and assembly to that of creative imitation and indigenization. It now competes with major arms-supplying countries. In addition, the South Korean defense industry has made remarkable progress in RMA-related areas mostly involving command, control, communication, intelligence, reconnaissance, and surveillance. In this policy brief, we first assess South Korea's defense industrial performance by examining the patterns of defense acquisition, rate of localization of defense materiel, and defense exports. We then briefly analyze the evolutionary dynamics of defense industrial upgrades in selected sectors by tracing the stages of innovation. We also delineate a set of institutional and policy arrangements that have contributed to this impressive transformation.
- Topic:
- Security, Defense Policy, Arms Control and Proliferation, and Economics
- Political Geography:
- Asia and South Korea
120. The Current State of European Union-China High-Tech Cooperation
- Author:
- May-Britt U. Stumbaum and Oliver Bräuner
- Publication Date:
- 09-2010
- Content Type:
- Policy Brief
- Institution:
- University of California Institute on Global Conflict and Cooperation (IGCC)
- Abstract:
- In line with the European policy of supporting China\'s economic reform and development, research institutes and companies in the European Union (EU) have been the major sources for high-technology exports to the People\'s Republic of China in the past thirty years. Dual-use technologies ranging from aerospace to semiconductors play a central role for economic development as well as for modern military development, including network-centric warfare. Yet a comprehensive EU paradigm on China\'s military rise and the impact of these technology transfers has not evolved. The EU–China "strategic partnership" is still dominated by economic considerations. Lack of coordination between the national and the European level contribute to the risks accompanying EU–China collaboration in this field. The differences between EU and U.S. perceptions of China\'s military rise provide potential for further Transatlantic discord, as happened during the acrimonious debate on the intended lifting of the EU arms embargo on China in 2004–2005.
- Topic:
- Economics, International Cooperation, Science and Technology, and Military Strategy
- Political Geography:
- China, Europe, and Asia
121. Indonesia: The Deepening Impasse in Papua
- Publication Date:
- 08-2010
- Content Type:
- Policy Brief
- Institution:
- International Crisis Group
- Abstract:
- The two sentiments that define the political impasse in Papua are frustration on the part of many Papuans that “special autonomy” has meant so little, and exasperation on the part of many Indonesian government officials that Papuans are not satisfied with what they have been given. The gulf between the two might be reduced by dialogue, but any prospect of serious talks is hampered by an un-willingness of Jakarta to treat the problem as essentially a political, rather than an economic one. To move forward, President Susilo Bambang Yudhoyono needs personally to take the lead in recognising that autonomy means more than increased budgetary allocations or accelerated economic development. He needs to explore directly with credible Papuan leaders how political autonomy can be expanded; affirmative action policies strengthened in all sectors; and Papuan fears about in-migration addressed. Unless these three issues are tackled head on in face-to-face meetings, the impasse is unlikely to be broken and increased radicalisation is likely.
- Topic:
- Diplomacy, Economics, Treaties and Agreements, and Territorial Disputes
- Political Geography:
- Indonesia and Asia
122. Why Didn't the Global Economic and Financial Crisis Have More of an Impact on International Migration?
- Author:
- Khalid Koser
- Publication Date:
- 09-2010
- Content Type:
- Policy Brief
- Institution:
- The Geneva Centre for Security Policy
- Abstract:
- Economic and financial crises have always impacted on international migration patterns, processes, and policies. The Great Depression (1929- 33) resulted in massive repatriations of Latin Americans from the United States and the introduction of highly restrictive immigration policies in a number of industrialized countries, including France and Canada. The Oil Crisis (1973) resulted in severe restrictions on labour migration, a concomitant growth in asylum applications and irregular migration in Europe, and the emergence of new flows of labour migration to emerging industrial centres in Asia and Latin America. As a result of the Asian financial crisis (1997-99) several South-East Asian countries introduced policies of national preference and sought to expel migrant workers. The Russian financial crisis (1998) accelerated rates of emigration from Russia, in particular of Russian Jews and the highly-skilled. The gravity of the Latin American financial crisis (1998- 2002) also resulted in a significant exodus, in particular from Argentina.
- Topic:
- Economics, Migration, Global Recession, and Financial Crisis
- Political Geography:
- Russia, Asia, and Latin America
123. A new geography of innovation – China and India rising
- Author:
- Gert Bruche
- Publication Date:
- 04-2009
- Content Type:
- Policy Brief
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- With some delay, the internationalization of business R is following the globalization of production. Starting on a small scale during the 1970s and 1980s, the emergence of globally distributed R networks of multinational enterprises (MNEs) accelerated rapidly in the 1990s. The “globalization of innovation” was facilitated and driven by a complex set of factors, including changes in trade and investment governance, improved intellectual property rights through TRIPS, the growing ease and falling cost of communicating and traveling around the globe, and the concomitant vertical industry specialization and unbundling of value chains. The growing and sustained level of cross-border M was one major direct driver, often having the effect that merged firms inherited multiple R sites in a number of countries.
- Topic:
- Development, Economics, and Foreign Direct Investment
- Political Geography:
- China, India, and Asia
124. Crossing Borders, Changing Landscapes: Land-Use Dynamics in the Golden Triangle
- Author:
- Jefferson Fox
- Publication Date:
- 12-2009
- Content Type:
- Policy Brief
- Institution:
- East-West Center
- Abstract:
- Over the last half-century, public policy has affected land-use practices across the borders linking China, Thailand, and Laos. Political and economic reforms have facilitated labor mobility and a shift in agricultural practices away from staple grains and toward a diverse array of cash crops, rubber being one of the foremost. China has promoted the conversion of forests to rubber agroforestry in southern Yunnan--profitable for farmers, but a concern in terms of biodiversity and long-term viability. In Thailand, the response is at the other end of the spectrum as the government's concerns about land-use practices and watershed management have led to policies that dramatically constrain land-use practices and limit tenure rights. In Laos the future is not yet clear. Government policies provide weak support for both private land ownership and protected areas. In a global environment where national policy has such a dramatic effect on land use and land cover, the factors behind land-use change merit close examination.
- Topic:
- Agriculture, Economics, Migration, and Labor Issues
- Political Geography:
- China, Asia, Thailand, and Southeast Asia
125. The Economic Impact of International Students from a Cross-National Perspective
- Author:
- Robert Gutierrez, Patricia Chow, Jason Baumgartner, and Yuriko Sato
- Publication Date:
- 05-2009
- Content Type:
- Policy Brief
- Institution:
- Institute of International Education (IIE)
- Abstract:
- IIE Open Doors Data on U.S. International Educational Exchange. Project Atlas: Global Student Mobility. International Student Economic Impact in the U.S. Comparison of International Student Economic Impact in USA, Japan and Australia.
- Topic:
- Foreign Policy, Economics, Markets, and Migration
- Political Geography:
- United States, Japan, China, Asia, California, Australia, and Texas
126. India-Pakistan Trade: A Roadmap for Enhancing Economic Relations
- Author:
- Mohsin S. Khan
- Publication Date:
- 07-2009
- Content Type:
- Policy Brief
- Institution:
- Peterson Institute for International Economics
- Abstract:
- Many previous attempts to improve economic ties between India and Pakistan unfortunately have been derailed by periodically heightened political tensions between the two countries—be it Kargil in May 1999, the terrorist attack on the Indian Parliament in December 2001, or most recently, the Mumbai attacks in November 2008. Although successive Indian and Pakistani governments have often repeated the desire for peaceful relations, reaching a comprehensive agree ment that settles outstanding disputes still seems far off. But this does not mean that steps toward better economic relations cannot be taken. Indeed, there was a major breakthrough in trade relations at the meeting between then President Pervez Musharraf of Pakistan and Prime Minister Manmohan Singh of India in New Delhi in April 2005 (Joint Communiqué 2005). A number of trade-related issues were discussed at this meeting, and several key decisions were taken to move the process along.
- Topic:
- Economics, Peace Studies, and Bilateral Relations
- Political Geography:
- Pakistan, South Asia, Asia, and New Delhi
127. China's Changing Outbound Foreign Direct Investment Profile: Drivers and Policy Implications
- Author:
- Daniel H. Rosen and Thilo Hanemann
- Publication Date:
- 06-2009
- Content Type:
- Policy Brief
- Institution:
- Peterson Institute for International Economics
- Abstract:
- In 1967 Jean-Jacques Servan-Schreiber published Le defi americain, a call to beware of American multinationals buying up the world. In the 1980s and 1990s it was Japan's turn, spawning books like Clyde Prestowitz's 1993 Trading Places: How We Are Giving Our Future to Japan. Today it is China's outbound foreign direct investment (OFDI) that elicits the most anxiety China's OFDI has reached commercially and geoeconomically significant levels and begun to challenge international investment norms and affect international relations.
- Topic:
- International Relations, Economics, International Trade and Finance, and Foreign Direct Investment
- Political Geography:
- China, America, and Asia
128. Mass poverty in Asia and the GFC
- Author:
- Peter McCawley
- Publication Date:
- 06-2009
- Content Type:
- Policy Brief
- Institution:
- Lowy Institute for International Policy
- Abstract:
- What is the problem? In addition to the current Global Financial Crisis (GFC), there is a second global crisis: long-term mass poverty in the third world. While the rich world worries about a repeat of the Great Depression, today more than a billion people in Asia live in conditions of bitter poverty which are much worse than those of the 1930s. As a result of the GFC, poverty in developing Asia is now likely to increase.
- Topic:
- Development, Economics, Poverty, and Financial Crisis
- Political Geography:
- Asia
129. Sharing the Pain: The Global Struggle Over Savings
- Author:
- Michael Pettis
- Publication Date:
- 11-2009
- Content Type:
- Policy Brief
- Institution:
- Carnegie Endowment for International Peace
- Abstract:
- In September, the Obama administration imposed tariffs on Chinese tires. In October, the U.S. Department of Commerce announced it would launch an investigation into imports of seamless steel pipes from China. That same month, the U.S. Chamber of Commerce and the U.S.–China Business Council, two groups that in the past have defended Chinese policies, testified to the Office of the U.S. Trade Representative that Chinese contracting rules, technical standards, and licensing requirements were protectionist.
- Topic:
- Economics, Globalization, Foreign Direct Investment, and Financial Crisis
- Political Geography:
- China, Middle East, and Asia
130. The Future of the Chiang Mai Initiative: An Asian Monetary Fund?
- Author:
- C. Randall Henning
- Publication Date:
- 02-2009
- Content Type:
- Policy Brief
- Institution:
- Peterson Institute for International Economics
- Abstract:
- In September 1997, at the outset of the last global financial crisis, the Japanese Ministry of Finance proposed the creation of an Asian Monetary Fund. Although this particular proposal was scuttled, the idea of a common regional fund on which East Asian governments might draw in times of financial turmoil survives. The region's disaffection from the International Monetary Fund (IMF), stemming from the 1997–98 crisis, sustains this idea and a desire on the part of individual countries to self-insure with large holdings of foreign exchange reserves. East Asian governments and central banks have created a set of bilateral swap arrangements (BSAs) dubbed the Chiang Mai Initiative (CMI) and are negotiating among themselves to build these BSAs into a more comprehensive facility. Some Asian officials hope that such a facility could underpin exchange rate cooperation and monetary integration in the region, although such proposals remain for the moment long-term visions.
- Topic:
- Economics, International Cooperation, International Trade and Finance, Regional Cooperation, and Financial Crisis
- Political Geography:
- Japan, Israel, and Asia
131. WSC 5: Protecting People, Economies, and Infrastructure
- Author:
- Christine Lynch, Devon Tucker, Michael Harvey, and Jacqueline McLaren Miller
- Publication Date:
- 02-2009
- Content Type:
- Policy Brief
- Institution:
- EastWest Institute
- Abstract:
- Drawing on a diverse array of opinions from Africa, Asia, Europe, and North America, the EastWest Institute's Fifth Worldwide Security Conference brought together specialists from the spheres of policy, academia, and civil society. Participants addressed a variety of issues on the contemporary global security landscape. These ranged from specific security threats (whether illicit trade, the targeting of critical infrastructure or cyber crime) to the role of interested actors (such as business, NGOs, and media), as well as a focus on potential strategies to counter terrorism and extremism (either in terms of constructing global cooperative architectures or, more controversially, the possibility of opening dialogue with the terrorists). A variety of policy recommendations emerged from each session—detailed in the main body of the report—but there were several recurring themes binding the debate together and animating the core arguments of proceedings as a whole. These policy recommendations were not necessarily consensus recommendations but reflected a wide range of debated policy prescriptions.
- Topic:
- International Relations, Security, Economics, Education, Globalization, Human Rights, International Security, and Political Theory
- Political Geography:
- Africa, Europe, Asia, and North America
132. Options for a Democratic Taiwan
- Author:
- Kerry Brown
- Publication Date:
- 03-2009
- Content Type:
- Policy Brief
- Institution:
- Chatham House
- Abstract:
- Over the last two decades, as Mainland China has been developing and liberalizing its economy, Taiwan has been undergoing an equally remarkable but very different political transformation, from martial law in 1987 to its current status as one of the most vibrant, stable democracies in Asia. Despite its eventful experience of the democratization process, the parliamentary and presidential elections in 2008 proved that Taiwan is now a mature, and stable, democracy. It has passed the ultimate test, seeing the successful transition of rule from one party to another and back again, without social turmoil. Economic performance over the same period has been less striking. Once among the fastestgrowing economies, Taiwan is now afflicted by a relatively low growth rate, and problems over the outflow of capital and investment to the Mainland. The potential for conflict over cross-straits relations remains but it has been significantly reduced under President Ma and by the Mainland Chinese government's greater accommodation with a democratic Taiwan in the last decade. The risk of a military conflict between the two sides, which could drag in the US, and therefore the rest of the world, cannot be entirely discounted, however. Taiwan's greatest challenges in the next decade remain the same as in the last – to maintain its identity, to develop its democratic system, and to handle relations with the Mainland in a way that preserves its interests while avoiding conflict. Taiwan's system, which has so far proved itself robust and effective, faces a new challenge too: how to benefit from the increase in Mainland investment abroad.
- Topic:
- Democratization, Economics, and Markets
- Political Geography:
- United States, China, Israel, Taiwan, and Asia
133. Global Financial Crisis and Policy Responses in Southeast Asia : Towards Prudent Macroeconomic Policies
- Author:
- Friska Parulian
- Publication Date:
- 07-2009
- Content Type:
- Policy Brief
- Institution:
- Economic Research Institute for ASEAN and East Asia (ERIA)
- Abstract:
- The global financial crisis hit the Southeast Asian economies through financial and real sectors by the combination of lower global demand and tighter credit demand effect. The challenge for policymakers in this region is not just to prevent the escalation of the crisis and to mitigate the downturn, but also to ensure a good starting position once the rebound sets in. Policymakers should avoid taking on an excessive level of debt or creating the conditions for an inflationary bubble by the current reaction to the global slowdown. A prudent counter-cyclical policy is necessary, and we should not ignore the medium and long-term sustainability.
- Topic:
- Economics, Global Financial Crisis, Macroeconomics, and Sustainability
- Political Geography:
- Asia and Southeast Asia
134. Trade Facilitation in the ASEAN Economic Community
- Author:
- Christopher Findlay
- Publication Date:
- 11-2009
- Content Type:
- Policy Brief
- Institution:
- Economic Research Institute for ASEAN and East Asia (ERIA)
- Abstract:
- Trade facilitation refers to the reduction of costs in the trading system. Significant cost reductions are possible, but policy reform and international cooperation are required to capture those gains. ASEAN has a key role to play in that work. Suggestions for the ASEAN scorecard are to reinforce or add commitments to, and then monitor the implementation of (a) National Single Windows as a prerequisite to the ASEAN Single Window, (b) a web-based databank of trade regulations that is regularly updated, (c) streamlined and harmonized procedures, starting with the Customs declaration (or 'SAD') form, and (d) mutually recognized technical standards. In terms of performance measures it is recommended to (1) have ASEAN customs authorities report regularly and in a comparable manner on clearance time through customs, (2) maintain and report updates of a logistics restrictiveness index for all countries in each year which has been developed in this project, and (3) recalculate adjusted cif/fob ratios as measures of trade costs, using the methodology developed in this project.
- Topic:
- Economics, International Cooperation, International Trade and Finance, World Trade Organization, World Bank, and Tariffs
- Political Geography:
- Asia and Southeast Asia
135. The sustainability of Russia's resurgence
- Author:
- Mikko Patokallio
- Publication Date:
- 09-2008
- Content Type:
- Policy Brief
- Institution:
- Finnish Institute of International Affairs
- Abstract:
- In recent years, Russia's resurgence has been driven by favourable conditions rather than solid foundations. Despite the favourable conditions, Russia's resurgence has only achieved mixed results. Buoyed by economic growth, Russia has become wealthy, assertive and confident; but the country has also alienated and provoked its neighbours and the West. Sustaining these conditions is unlikely due to problems resulting from Russia's internal structural weaknesses and assertive foreign policy. Without change, these problems are likely to worsen. Energy exports – the cornerstone of Russia's resurgence – are set to decline. The end of this boom threatens Russia's domestic stability and ability to tackle other long-term threats as external resistance to Russia hardens.
- Topic:
- Economics and Energy Policy
- Political Geography:
- Russia, Europe, and Asia
136. PolicyWatch #1425: Interfaith, Oil, and Afghanistan: Where Saudi and U.S. Interests Diverge
- Author:
- Simon Henderson
- Publication Date:
- 11-2008
- Content Type:
- Policy Brief
- Institution:
- The Washington Institute for Near East Policy
- Abstract:
- Saudi king Abdullah is in the United States this week to discuss issues of considerable interest to both countries. Tomorrow and Thursday, he is in New York City for an interfaith meeting he is sponsoring and which President Bush will be attending. On Friday and Saturday, the Saudi monarch will be at the White House, where he will be the sole Islamic or Arab representative at a summit of major economic powers discussing the world financial crisis. In a separate meeting with President Bush, he is expected to report on Saudi mediation efforts with the Taliban in Afghanistan. Despite some common interest in all these areas, perspectives differ significantly on issues such as radical Islam and the price of oil. The United States, particularly during a time of presidential transition, should be careful not to concede ground on continuing points of disagreement.
- Topic:
- Economics and Oil
- Political Geography:
- Afghanistan, United States, Middle East, Asia, and Saudi Arabia
137. Financial Repression in China
- Author:
- Nicholas R. Lardy
- Publication Date:
- 09-2008
- Content Type:
- Policy Brief
- Institution:
- Peterson Institute for International Economics
- Abstract:
- China\'s banking sector has been largely transformed over the past decade. Several of the largest banks have been restructured, recapitalized, and listed. Governance has improved, notably through the appointment of independent members to boards of directors. A vigorous new regulatory and supervisory agency, the China Banking Regulatory Commission (CBRC), has introduced new accounting standards, a revised risk weighting system for measuring capital, more rigorous loan loss criteria, heightened provisioning requirements, and other significant changes. Foreign banks have entered the market, both through their own branches and subsidiaries and through strategic investments in domestic banks, bringing better banking practices and much needed additional competition.
- Topic:
- Economics and Government
- Political Geography:
- China and Asia
138. China's Economic Rise -- Fact and Fiction
- Author:
- Albert Keidel
- Publication Date:
- 07-2008
- Content Type:
- Policy Brief
- Institution:
- Carnegie Endowment for International Peace
- Abstract:
- China's economy will surpass that of the United States by 2035 and be twice its size by midcentury, a new report by Albert Keidel concludes. China's rapid growth is driven by domestic demand—not exports—and will sustain high single-digit growth rates well into this century. In China's Economic Rise—Fact and Fiction, Keidel examines China's likely economic trajectory and its implications for global commercial, institutional, and military leadership.
- Topic:
- Economics, Globalization, and International Trade and Finance
- Political Geography:
- United States, China, and Asia
139. Afghanistan's Economy: On the Right Road, But Still a Long Way to Go
- Author:
- Beth Ellen Cole
- Publication Date:
- 11-2007
- Content Type:
- Policy Brief
- Institution:
- United States Institute of Peace
- Abstract:
- Afghanistan has now laid the foundation for a market-based economy. A new economic system, based on the state as a regulator, not a producer, of goods, with a clear separation between the public and private sectors, stands in place of the centralized economy of the past. An independent central bank, a liberalized foreign exchange system, and laws permitting foreigners to wholly own property characterize the new economic landscape. A doubling of the gross national product and per capita income, a 13 percent growth rate in 2007, and modest inflation paint a vibrant picture.
- Topic:
- Security, Development, and Economics
- Political Geography:
- Afghanistan and Asia
140. State, Security and Economy in Afghanistan: Current Challenges, Possible Solutions
- Publication Date:
- 11-2007
- Content Type:
- Policy Brief
- Institution:
- Liechtenstein Institute on Self-Determination, Princeton University
- Abstract:
- The Liechtenstein Institute on Self-Determination (LISD) at Princeton University's Woodrow Wilson School of Public and International Affairs convened the colloquium, “State, Security and Economy in Afghanistan: Current Challenges, Possible Solutions,” on 16-18 November 2007 in Brussels, Belgium. The conference was funded in part by the Carnegie Corporation of New York, the House of Liechtenstein, and the Government of Austria.
- Topic:
- Conflict Resolution, Security, Economics, Government, and War
- Political Geography:
- Afghanistan, Central Asia, Asia, Belgium, and Austria
141. China's Looming Crisis—Inflation Returns
- Author:
- Albert Keidel
- Publication Date:
- 09-2007
- Content Type:
- Policy Brief
- Institution:
- Carnegie Endowment for International Peace
- Abstract:
- Surging food prices in China indicate a serious risk of inflationary overheating. Past steps to control inflation caused social protest and deadly unrest. China faces the same risk now. China could avoid severe inflation by learning from its past failures and quickly raising interest rates—but politics make this unlikely. “Cooling off” policies in the future will thus be harsher than necessary. Beyond short-term fixes, China should increase imports of fine grains, with long-term U.S. supply assurances, both to stabilize prices and to promote lucrative farm diversification. U.S. intelligence analysis of this overheating risk should refute the conventional wisdom that China's growth is export-led—it is clearly domestically driven. Policy makers need to realize that China's rapid economic rise is homegrown and sustainable. The United States should quietly remind China that harsh handling of inflation-related unrest could seriously damage U.S.-China relations—especially in a U.S. election year.
- Topic:
- Economics and Globalization
- Political Geography:
- United States, China, and Asia
142. Russian-Algerian cooperation and the 'gas OPEC': What's in the pipeline?
- Author:
- Hakim Darbouche
- Publication Date:
- 03-2007
- Content Type:
- Policy Brief
- Institution:
- Centre for European Policy Studies (CEPS)
- Abstract:
- President Abdelaziz Bouteflika's statement to Spain's El País1 that the idea of a 'gas-OPEC' should not a priori be excluded, adds to a series of twists, among which was Vladimir Putin's confirmation on 1 February that the idea of a gas cartel was an 'interesting one' worth considering further. Hitherto, this gas saga featured Russia, Algeria, the EU, NATO and Iran. The story revolves around Russian-Algerian mingling on gas matters, spurring European and Transatlantic concerns over the prospects of a 'gas OPEC'. At a time of increasing European dependence on foreign energy supplies, these developments have been interpreted as being part of a wider effort, led by Russia, to use energy as a lever to undermine European diplomacy. These allegations have been dismissed by Algeria and Russia, whose leaders insist that their cooperation is intended to optimise their benefits and those of their customers alike. This paper examines the underpinnings of these developments by assessing the likelihood of their culmination in a gas cartel and offers an insight into the potential policy choices behind them.
- Topic:
- Economics and Energy Policy
- Political Geography:
- Russia, Europe, Eastern Europe, Asia, and Algeria
143. China and Economic Integration in East Asia: Implications for the United States
- Author:
- C. Fred Bergsten
- Publication Date:
- 03-2007
- Content Type:
- Policy Brief
- Institution:
- Peterson Institute for International Economics
- Abstract:
- East Asia is clearly, if gradually and unevenly, moving toward regional economic integration. Market forces are leading the process, as firms construct production chains across the area that exploit the comparative advantage of its individual countries. Governments are now moving to build on those forces, and consolidate them, through a series of formal agreements to intensify their economic relationships and start creating an East Asian Community.
- Topic:
- Development and Economics
- Political Geography:
- United States, China, Israel, East Asia, and Asia
144. Fiscal Policy for Poverty Reduction, Reconstruction, and Growth
- Author:
- Matthew Smith, Alan Roe, and Tony Addison
- Publication Date:
- 06-2006
- Content Type:
- Policy Brief
- Institution:
- United Nations University
- Abstract:
- An effective state is able to mobilize revenue and spend it on infrastructure, services, and public goods that both enhance human capital and the well-being of communities (especially the poor), as well as stimulating investment and employment creation by the private sector. An effective state also manages public finance to ensure that macroeconomic balance is maintained—with policy neither too restrictive to discourage private investment and growth, nor too accommodative to create high inflation and crowd out private investment. Fiscal issues are therefore at the heart of the state's role in the development process and failure in this policy area—whether it is in taxation, public expenditures, or in managing the fiscal deficit and public debt—can quickly undermine growth and poverty reduction. Fiscal weakness can also be fatal to social peace when one or more ethnic, religious, or regional groups are taxed unfairly—or receives too little in the allocation of public spending.
- Topic:
- Debt, Development, Economics, and Poverty
- Political Geography:
- Africa and Asia
145. China and the Depreciating U.S. Dollar
- Author:
- Richard C. K. Burdekin
- Publication Date:
- 01-2006
- Content Type:
- Policy Brief
- Institution:
- East-West Center
- Abstract:
- Over the past five years, U.S. exports to China have been dwarfed by imports from that country, with the resulting trade deficit igniting a bout of China bashing reminiscent of the Japan bashing of the 1980s. A major culprit in the trade imbalance, according to many U.S. analysts and policymakers, is China's currency: the renminbi, they say, is too cheap relative to the dollar. Some are calling for high tariffs on Chinese goods or for further exchange-rate adjustment that would revalue the renminbi significantly upward, making Chinese goods less competitive. But with just 10.4 percent of total U.S. trade attributed to China in the first half of 2005, it is unrealistic that any renminbi exchange-rate adjustment could rein in the burgeoning U.S. trade deficit. And if the adjustment were drastic the United States could be the big loser: driving China out of the market for U.S. treasuries would most likely have calamitous consequences, not only for the dollar but for U.S. credit markets and for the U.S. economy in general.
- Topic:
- Economics and International Trade and Finance
- Political Geography:
- United States, Asia, and North America
146. Strategic Partnership or Strategic Competition
- Author:
- Bonnie Glaser and James Nolt
- Publication Date:
- 12-2006
- Content Type:
- Policy Brief
- Institution:
- Foreign Policy In Focus
- Abstract:
- As part of our China Focus, we asked two leading scholars to reflect on the tensions and possibilities in U.S.-China relations. Bonnie Glaser is a senior associate at the Center for Strategic and International Studies. James Nolt is a senior fellow at the World Policy Institute. We asked them first about the potential for a strategic security partnership between the United States and China, then about their economic relationship.
- Topic:
- Security, Economics, and International Cooperation
- Political Geography:
- United States, China, and Asia
147. Economic Survey of the Russian Federation, 2006
- Publication Date:
- 11-2006
- Content Type:
- Policy Brief
- Institution:
- The Organisation for Economic Co-operation and Development
- Abstract:
- The Russian economy has been enjoying a period of robust growth, thanks largely to steadily rising terms of trade. The challenge confronting policy-makers is to facilitate Russia's transition into a period of self-sustaining, investment- and innovation-led growth. This will require a sound macroeconomic policy framework to manage the economy's adjustment to sustained high oil prices and a range of structural reforms aimed at creating better framework conditions for business.
- Topic:
- Development, Economics, and Markets
- Political Geography:
- Russia, Europe, and Asia
148. Untangling China's Quest for Oil through State-backed Financial Deals
- Author:
- Erica Downs and Peter C. Evans
- Publication Date:
- 05-2006
- Content Type:
- Policy Brief
- Institution:
- The Brookings Institution
- Abstract:
- The efforts of China's national oil companies to secure upstream oil assets abroad have attracted attention from U.S. officials and policymakers. Congress has taken notice, as indicated by the request of the Chairman of the U.S. House of Representatives Resources Committee Richard W. Pombo—triggered by the bid made by China National Offshore Oil Corporation Ltd. for Unocal in 2005—for a study by the Department of Energy of the economic and national security implications of China's energy demand. The report, released in February 2006, concludes that the foreign investments of China's national oil companies do not pose an economic challenge to the U.S. However, one issue the report mentions only in passing that merits further attention is how the Chinese government's financial support for some of these investments can undermine an open and competitive world oil market.
- Topic:
- Security, Economics, and Energy Policy
- Political Geography:
- United States, China, and Asia
149. China's Social Unrest: The Story Behind the Stories
- Author:
- Albert Kiedel
- Publication Date:
- 09-2006
- Content Type:
- Policy Brief
- Institution:
- Carnegie Endowment for International Peace
- Abstract:
- China is confronting widespread violent and even deadly social unrest, raising Communist Party alarms about national security. Some observers speculate that unrest could undermine China's national leadership, as it did in the Ukraine and the Philippines. Some U.S. policy makers might welcome unrest in China as a path to democracy and “freedom.” But rather than an opportunity to transform China's political order, China's social unrest should be understood as the unavoidable side effects—worsened by local corruption—of successful market reforms and expanded economic and social choice. Managing this unrest humanely requires accelerated reform of legal and social institutions with special attention to corruption. More violence would generate more suffering, potentially destabilizing East Asia and harming U.S. interests. The United States should encourage China to strengthen its social reconciliation capabilities, without making electoral political reform a prerequisite for intensifying engagement across the board.
- Topic:
- Civil Society, Development, and Economics
- Political Geography:
- United States, China, Ukraine, East Asia, and Asia
150. China: Toward a Consumption-Driven Growth Path
- Author:
- Nicholas R. Lardy
- Publication Date:
- 10-2006
- Content Type:
- Policy Brief
- Institution:
- Peterson Institute for International Economics
- Abstract:
- In December 2004 China's top political leadership agreed to fundamentally alter the country's growth strategy. In place of investment and export-led development, they endorsed transitioning to a growth path that relied more on expanding domestic consumption. Since 2004, China's top leadership, most notably Premier Wen Jiaobao in his speech to the National People's Congress in the spring of 2006, has reiterated the goal of strengthening domestic consumption as a major source of economic growth. This policy brief examines the reasons underlying the leadership decision, the implications of this transition for the United States and the global economy, and the steps that have been taken to embark on the new growth path.
- Topic:
- International Relations, Development, and Economics
- Political Geography:
- United States, China, and Asia
151. Negotiating the Korea-United States Free Trade Agreement
- Author:
- Jeffrey J. Schott, Scott C. Bradford, and Thomas Moll
- Publication Date:
- 06-2006
- Content Type:
- Policy Brief
- Institution:
- Peterson Institute for International Economics
- Abstract:
- Five years ago the Institute published Free Trade between Korea and the United States? by Inbom Choi and Jeffrey J. Schott, which analyzed the potential benefits and costs of pursuing a bilateral free trade agreement (FTA). At the time, neither government had vetted the idea in bilateral consultations, though some business groups in each country—and some members of the US Congress—had voiced support for deepening US-Korea economic ties through an FTA.
- Topic:
- Economics, International Organization, and Political Economy
- Political Geography:
- United States, Asia, and Korea
152. The Doha Round after Hong Kong
- Author:
- Gary Clyde Hufbauer and Jeffrey J. Schott
- Publication Date:
- 02-2006
- Content Type:
- Policy Brief
- Institution:
- Peterson Institute for International Economics
- Abstract:
- Trade ministers from member countries of the World Trade Organization (WTO) convened in Hong Kong in December 2005 to jump-start the flagging Doha Round of multilateral trade negotiations. The Hong Kong ministerial was not a complete bust. But ministers accomplished only the minimum necessary to keep the Doha Round moving forward—toward an undetermined and probably distant conclusion.
- Topic:
- Development, Economics, and International Trade and Finance
- Political Geography:
- Asia
153. What Could Go Wrong?
- Author:
- Harry Harding
- Publication Date:
- 01-2006
- Content Type:
- Policy Brief
- Institution:
- Atlantic Council
- Abstract:
- China has done remarkably well in its development over the last twenty-five years. It has achieved and sustained high rates of economic growth, lifting millions out of poverty. It has achieved a significant place in the international economy. It is widely regarded as a major power, not only in Asia but also increasingly on a global stage. Looking ahead, however, things could go wrong – possibly quite seriously wrong – for China, and if China experiences serious problems, its size and its expanded role in the world mean that there could be serious consequences for the broader international community as well.
- Topic:
- Development, Economics, and International Trade and Finance
- Political Geography:
- China and Asia
154. China Succeeding Beyond Expectations
- Author:
- Albert Kiedel
- Publication Date:
- 01-2006
- Content Type:
- Policy Brief
- Institution:
- Atlantic Council
- Abstract:
- What are the implications if China sustains nine-percent growth through 2010? This is the basic question posed by conference organizers. The relevant time frame is what matters most. If China merely maintains nine-percent growth until the year 2010, the implications are not great. Too much is left unknown about what comes after 2010. Even with nine-percent growth over the next five years, China in 2010 will still be at a relatively low level of performance, both overall and in per-capita terms. But if sustaining nine-percent growth to 2010 means that China has launched on-going reforms that will continue to engineer institutional changes needed for a market economy's successful commercial and political management, then the resulting successful development trajectory in the rest of the century will generate profound and, from today's perspective, unexpected consequences.
- Topic:
- International Relations, Development, and Economics
- Political Geography:
- China and Asia
155. Comments on China as a Regional Player
- Author:
- Edward J. Lincoln
- Publication Date:
- 01-2006
- Content Type:
- Policy Brief
- Institution:
- Atlantic Council
- Abstract:
- China ought to be able to produce a relatively high economic growth rate over at least the next decade. There are a number of problems confronting the economy, but one of the great lessons of the past half-century of world economic growth is how much growth can result even when economies have considerable institutional flaws. Economists usually speak about the need to get the “fundamentals” right to produce economic growth, but we should also keep in mind that nations need not get have a perfect set of institutions and rules to generate growth.
- Topic:
- Economics, International Trade and Finance, and Regional Cooperation
- Political Geography:
- China and Asia
156. Taiwan In Search of a Strategic Consensus
- Author:
- Banning Garrett, Franklin Kramer, and Jonathan M. Adams
- Publication Date:
- 03-2006
- Content Type:
- Policy Brief
- Institution:
- Atlantic Council
- Abstract:
- At the beginning of 2006, Taiwan is confronted with difficult choices that it currently seems unprepared to face. Cross-Strait tensions have diminished in the last year and Taiwan's economy has grown at an annualized rate of about 3.6 percent, which is respectable if not robust by East Asian standards. Taiwan, however, also faces an East Asian future which likely includes an increasingly important role for its relations with the Mainland as China becomes an ever more important economic and political factor regionally and globally.
- Topic:
- Foreign Policy, Economics, and International Trade and Finance
- Political Geography:
- China, Taiwan, East Asia, and Asia
157. Banking Crises in East Asia: The Price Tag of Liberalization?
- Author:
- Ilan Noy
- Publication Date:
- 11-2005
- Content Type:
- Policy Brief
- Institution:
- East-West Center
- Abstract:
- The banking crises that swept through East Asia in 1997– 1998 set off dramatic recessions in the affected countries and imposed heavy costs on the domestic taxpayers. Fear of further crises prompted searches causes and early warning signs. It soon became apparent that liberalization the domestic financial sectors of the countries in crises contributed to genesis of these crises, but policymakers, regulators, and economists disagree about the reason for this. Initial scrutiny fell on unregulated international capital flows, but a comprehensive study suggests that liberalization can to financial instability either because of insufficient regulation of the financial sector or because of erosion of previously granted monopolies of existing banks. These possibilities suggest varying policy implications for the current state domestic financial systems in East Asia, including the challenges inherent opening up ChinaÂ's banking system to foreign competition as mandated in China–World Trade Organization accession agreement.
- Topic:
- Economics and International Trade and Finance
- Political Geography:
- Israel and Asia
158. The United States as an Asian Power: Realism or Conceit?
- Author:
- M. Taylor Fravel and Richard J. Samuels
- Publication Date:
- 04-2005
- Content Type:
- Policy Brief
- Institution:
- MIT Center for International Studies
- Abstract:
- The long history of U.S. foreign policy is punctuated by axiomatic truths that have bordered on conceit—e.g., the virtues of isolation, America's manifest destiny, and our benign, democratizing presence in world affairs. Strategists have lurched from truth to truth across the centuries, often without sufficient reflection and learning. Today the United States is operating with an axiomatic idea about its place in and of Asia. U.S. foreign policymakers—and U.S. foreign policy wonks—intone the mantra: “The United States is an Asian power.”
- Topic:
- Foreign Policy, Economics, and Politics
- Political Geography:
- United States, America, and Asia
159. Agricultural Policy Reform in China
- Publication Date:
- 11-2005
- Content Type:
- Policy Brief
- Institution:
- The Organisation for Economic Co-operation and Development
- Abstract:
- China is the world's sixth largest economy and its most populous country, home to 1.3 billion people or 21% of the Earth's total population. But it faces a major challenge in providing its people with food – China has only 10% of the world's arable land and only one quarter of the average world water resources per person.
- Topic:
- Agriculture, Civil Society, and Economics
- Political Geography:
- China and Asia
160. China's Governance in Transition
- Publication Date:
- 09-2005
- Content Type:
- Policy Brief
- Institution:
- The Organisation for Economic Co-operation and Development
- Abstract:
- China's economic reforms over the past two decades have brought remarkable growth, the development of a vibrant private sector and significant reform of the state-owned sector. Private businesses now represent some 57% of GDP, and productivity in the state-owned sector has improved significantly. However, a number of problems threaten to undermine prospects for sustainable growth. These notably include social tensions, partly due to increasing inequality within society and massive migration to the cities, but also linked to corruption, insufficient public services and rising unemployment as millions of workers have been laid off in the reform of the state-owned sector, while agriculture still displays huge structural under-employment.
- Topic:
- Development, Economics, and Government
- Political Geography:
- China and Asia
161. Economic Survey of China, 2005
- Publication Date:
- 09-2005
- Content Type:
- Policy Brief
- Institution:
- The Organisation for Economic Co-operation and Development
- Abstract:
- China's economic growth has averaged 9½% per cent over the past two decades. The rapid pace of economic change is likely to be sustained for some time. These gains have contributed not only to higher personal incomes, but also to a significant reduction in poverty. At the same time, the economy has become substantially integrated with the world economy. A large part of these gains have come through profound shifts in government policies. Reforms have allowed market prices and private investors to play a significant role in production and trade.
- Topic:
- Development, Economics, and Emerging Markets
- Political Geography:
- China and Asia
162. Reading Russia Right
- Author:
- Dmitri V. Trenin
- Publication Date:
- 10-2005
- Content Type:
- Policy Brief
- Institution:
- Carnegie Endowment for International Peace
- Abstract:
- After the fall of Communism, Russia reverted to czarism. But more importantly, Russia embraced capitalism. Although not democratic, Russia is largely free. Property rights are more deeply anchored than they were five years ago, and the once-collectivist society is going private. Indeed, private consumption is the main driver of economic growth. Russia's future now depends heavily on how fast a middle class—a self-identified group with personal stakes in having a law-based government accountable to tax payers—can be created. The West needs to take the long view, stay engaged, and maximize contacts, especially with younger Russians.
- Topic:
- Economics and Government
- Political Geography:
- Russia, Europe, and Asia
163. China's Currency: Not the Problem
- Author:
- Albert Keidel
- Publication Date:
- 06-2005
- Content Type:
- Policy Brief
- Institution:
- Carnegie Endowment for International Peace
- Abstract:
- In Washington, politicians and pundits have settled on a single magical solution for the country's economic ills: getting China to revalue its currency, the RMB. By any reasonable economic measure, however, the RMB is not undervalued. China does have a trade surplus with the United States, but it has a trade deficit with the rest of the world. And China's accumulation of dollar reserves is not the result of trade surpluses, but of large investment inflows caused in part by speculators' betting that China will yield to U.S. pressure. Focusing on China's currency is a distraction. If the United States wants to improve its economy for the long haul, it had best look elsewhere beginning with raising the productivity of American workers.
- Topic:
- Economics and Government
- Political Geography:
- United States, China, America, Washington, and Asia
164. A Better Way to Support Middle East Reform
- Author:
- Thomas Carothers
- Publication Date:
- 02-2005
- Content Type:
- Policy Brief
- Institution:
- Carnegie Endowment for International Peace
- Abstract:
- The Middle East Partnership Initiative (MEPI), an important component of the Bush administration's policy of promoting Middle East reform, is falling short. MEPI should be relaunched as a private foundation funded by the government, akin to the Asia Foundation or the Eurasia Foundation. Such a relaunch would permit MEPI to develop greater expertise in the region, use more flexible, effective aid methods, and gain some independence from other U.S. programs and policies that serve conflicting ends. The restructuring of MEPI should be part of a broader set of measures to establish a more visible, coherent institutional policy structure to pursue the critical goal of fundamental political and economic change in the Middle East.
- Topic:
- Development, Economics, and Politics
- Political Geography:
- Eurasia, Middle East, and Asia
165. Is the IMF business model still valid?
- Author:
- Ángel Ubide
- Publication Date:
- 09-2005
- Content Type:
- Policy Brief
- Institution:
- Centre for European Policy Studies (CEPS)
- Abstract:
- Since the Asian crisis, the IMF has undergone a deep process of soul searching, trying to extract lessons from the experience. External criticism has been abundant, and basically all three of the IMF's main areas of work – surveillance, crisis prevention and resolution, and poverty reduction – have been called into question. Several years later, there is a feeling that not much has been achieved, and key questions remain unanswered. As the world business cycle matures, and thus the likelihood of further crises slowly increases, it is critical for the stability of the world financial system to discuss what the IMF's business model should look like.
- Topic:
- Development, Economics, Emerging Markets, and International Trade and Finance
- Political Geography:
- Asia
166. A Currency Basket for East Asia, Not Just China
- Author:
- John Williamson
- Publication Date:
- 08-2005
- Content Type:
- Policy Brief
- Institution:
- Peterson Institute for International Economics
- Abstract:
- China recently announced that it is adopting a basket of currencies as the peg for its exchange rate instead of the US dollar. This announcement raises questions of how such a system works, whether other East Asian countries would be advised to follow China in adopting a basket numeraire, and whether it would be advantageous to these countries if they were all to adopt the same basket. This brief answers these questions.
- Topic:
- Economics, International Cooperation, and International Trade and Finance
- Political Geography:
- United States, Israel, East Asia, and Asia
167. China and the World Economy Workshop. Conference Summary
- Author:
- Robert Kapp
- Publication Date:
- 12-2005
- Content Type:
- Policy Brief
- Institution:
- Atlantic Council
- Abstract:
- Peter Bottelier, the principal presenter of this topic, opened by noting that much discussion now surrounds the evolving “new line” embodied in China's economic plans for the next five years. The three agricultural questions, self-innovation, regional adjustment, opening up of a win-win “harmonious society,” and economizing on energy use: what do these and other much-discussed new terms really mean?
- Topic:
- Economics, Globalization, and International Trade and Finance
- Political Geography:
- China and Asia
168. China as Producer: Chinese Industry After 25 Years of Reform
- Author:
- Thomas Rawski
- Publication Date:
- 12-2005
- Content Type:
- Policy Brief
- Institution:
- Atlantic Council
- Abstract:
- Beginning with the start of reform in the late 1970s, China's industry has recorded impressive growth of output, labor productivity, and exports as well as dramatic upgrading of the quality and variety of output. These gains have occurred in spite of difficulties arising from lethargic state enterprises, inadequate corporate governance, excessive official intervention, corruption, and weak financial institutions.
- Topic:
- Economics, Industrial Policy, and International Trade and Finance
- Political Geography:
- China and Asia
169. China as Consumer
- Author:
- Kenneth Lieberthal
- Publication Date:
- 12-2005
- Content Type:
- Policy Brief
- Institution:
- Atlantic Council
- Abstract:
- This article seeks to examine two key issues that will be major drivers of consumption in China over the coming five years: urbanization and environmental amelioration. Whether the issues identified will be the largest factors over this time frame remains unclear, but each of these two areas warrants considerable attention as a very significant contributor to the future of consumer demand in China.
- Topic:
- Economics, Environment, and International Trade and Finance
- Political Geography:
- China and Asia
170. China as Employer and Consumer: Economic Outlook for the 11th Five-Year Plan (2006-2010)
- Author:
- Arthur R. Kroeber
- Publication Date:
- 12-2005
- Content Type:
- Policy Brief
- Institution:
- Atlantic Council
- Abstract:
- China's impressive economic growth of the past quarter century (9.4 percent average annual real GDP growth between 1980 and 2004, by official figures) is not miraculous; on the contrary, it can largely be explained by conventional models of economic development.
- Topic:
- Economics, Human Welfare, and International Trade and Finance
- Political Geography:
- China and Asia
171. Hu Jintao's Outbox
- Author:
- Joseph Fewsmith
- Publication Date:
- 12-2005
- Content Type:
- Policy Brief
- Institution:
- Atlantic Council
- Abstract:
- China has now sustained two and a half decades of high-speed growth. This growth has been even faster with regard to exports and China's role in international trade. Domestically, a capitalist tendency seems to be everywhere, while internationally the rise of China, whether peaceful or not, seems – at least to some – to threaten Western jobs, prosperity, and the international order. The focus of this paper, however, is not this question of whether or how China poses a threat to the West but rather an old (but new) question of how this “capitalist” conversion is compatible with the continued rule of a communist party. This is a question of considerable practical import, as people contemplate what the continued growth of the Chinese economy might mean for the political stability of that country, but it is also a question of considerable theoretical import: Leninist parties that sought to “include” external interests, it was argued, are on the way to collapse. It is only a matter of time. The time frame for China has lasted longer than theoreticians had supposed, though they might yet prove to be right – perhaps the Chinese Communist Party (CCP) has lasted longer than people imagined but it might still be on the road to collapse. This point of view would find supporters, both in the West and in China, but even if they prove right, it is important to inquire more deeply about what is going on in China, whether institutions are being created, and if so whether they might provide a foundation for a post-communist China or whether they suggest a more chaotic future.
- Topic:
- Economics and International Trade and Finance
- Political Geography:
- China and Asia
172. Economic survey of Korea, 2004
- Publication Date:
- 06-2004
- Content Type:
- Policy Brief
- Institution:
- The Organisation for Economic Co-operation and Development
- Abstract:
- Korea has been one of the fastest growing economies in the OECD area over the past five years, with an annual growth rate of about 6 per cent. Such rapid growth, which has lifted per capita income to two-thirds of the OECD average, reflects Korea's underlying dynamism and its progress in implementing a wide-ranging reform programme in the wake of the 1997 crisis. However, the recession in 2003 – which was due in part to structural problems in the labour market and in the corporate and financial sectors – indicates that the reform agenda is unfinished. Sustaining rapid growth over the medium term as the contribution from inputs of labour and capital slows requires further progress in structural reform, particularly in the labour market and in the corporate and financial sectors, accompanied by appropriate macroeconomic policies.
- Topic:
- Development, Economics, and Government
- Political Geography:
- Asia and Korea
173. India's energy needs
- Author:
- Nick Hordern
- Publication Date:
- 12-2004
- Content Type:
- Policy Brief
- Institution:
- Lowy Institute for International Policy
- Abstract:
- India's exploding demand for energy is confronting New Delhi with two important dilemmas, one internal and one external. India's internal dilemma is that to satisfy its energy needs, India must not only expand but also renovate its energy sector, a huge task. Moreover, New Delhi must balance accelerating the necessary reform of this sector with the need to avoid alienating important domestic constituencies. The external dilemma derives from the fact that India will only be able to meet part of its increased energy demand from its own domestic resources, and therefore will be increasingly forced to rely on energy imports. India is trying to secure its energy supplies in a hostile geo-political climate, since New Delhi's parlous relations with its neighbours make energy cooperation difficult. The resultant fears regarding the vulnerability of India's external sources of energy chime with a core principle of New Delhi's political culture, swadeshi (self-sufficiency), whose influence, while waning, retains its potency. Concerns regarding energy security are particularly prevalent in the case of oil, where India's dependence on imports is becoming acute. The proximity of the Persian Gulf to India's industrialised northwest makes it the main source of growing oil imports. But this in turn increases India's reliance on the unstable Gulf. In order to reduce this risk New Delhi will seek out oil from new energy provinces in the Atlantic Basin, Sudan, Russia and South East Asia. It will also turn to a new energy source - gas - and more imports of liquefied natural gas (LNG) will be one result. India's energy needs have implications for Australia. India's growing demand for energy will see coal continue to dominate the energy mix, and as a result India's demand for imported coking coal, including from Australia, is also set to grow. At the same time, India's quest for diversity of supply means that at least some of India's increased LNG imports are likely to be Australian.
- Topic:
- Economics, Energy Policy, and International Cooperation
- Political Geography:
- Russia, Sudan, India, Asia, New Delhi, Australia, and Southeast Asia
174. The international economy in 2003: managing economic imbalances in an integrated world
- Author:
- Mark P Thirlwell
- Publication Date:
- 02-2004
- Content Type:
- Policy Brief
- Institution:
- Lowy Institute for International Policy
- Abstract:
- This Issues Brief suggests that a key theme over the past year has been the management of external imbalances in a world economy that is not only increasingly integrated but which is simultaneously undergoing a sustained geographic shift in the distribution of economic weight towards Asia. Using this theme as an organising principle, it reviews several major economic developments including US current account adjustment, international exchange rate adjustment in response to that process, growing Sino-US trade tensions, the increasing focus on international outsourcing and the stresses facing the current multilateral trading round. The Brief concludes by arguing that many of these same themes will influence international economic prospects over the coming year.
- Topic:
- Economics, Globalization, and International Trade and Finance
- Political Geography:
- Asia
175. What Kind of Landing for the Chinese Economy?
- Author:
- Nicholas R. Lardy and Morris Goldstein
- Publication Date:
- 11-2004
- Content Type:
- Policy Brief
- Institution:
- Peterson Institute for International Economics
- Abstract:
- Rarely has the outlook for the Chinese economy been so contested. The financial press widely quotes three alternative perspectives on the short-and medium-term outlook. One school argues that the Chinese government's recent efforts to rein in overly rapid growth are working and that the economy is now on a glide path to what is referred to as a soft landing. While “soft landing” is usually not fully defined, its chief feature in this case is that Chinese economic growth slows modestly from its current pace of 9 to 10 percent to around 8 percent and that the rate of job creation does not slow enough to constitute a major political challenge for the regime. At the other end of the spectrum is the hard landing school, which argues that the authorities to date have not tightened sufficiently, that loan and investment growth remain excessive, and that the authorities soon will be forced to take more drastic action that will trigger a sharp correction. Finally, the no landing school argues that China's efforts to slow growth modestly are misguided since the economy was not overheating in 2003 and early 2004. In this view, China is in the early stages of a secular boom that has several additional years to run.
- Topic:
- Economics and Political Economy
- Political Geography:
- China and Asia
176. Asian Oil Market Outlook: Role of the Key Players
- Author:
- Jeffrey Brown and Kang Wu
- Publication Date:
- 10-2003
- Content Type:
- Policy Brief
- Institution:
- East-West Center
- Abstract:
- The Asia Pacific region's dynamic oil market is marked by strong growth in consumption, declining regional oil production, and over capacity in its highly competitive oil-refining sector. Its "key players" are China, India, Indonesia, Japan, and South Korea—a group that includes the region's five top consumers and three of its major producers—and developments in these countries will have commercial and strategic implications for the whole region. On the consumption side, Japan's slow growth in demand has failed to dampen regional growth, which is now driven by China and India's fast growing thirst for oil. On the supply side, Indonesia's inevitable transition to a net oil importer highlights the trend toward growing dependence on Middle East oil, which already comprises 42–90 percent of imports among the key players. In response to this trend, China, Japan, and South Korea are pushing to acquire overseas oil reserves, with Japan and China already locked in a fierce competition for projected Russian supplies—a type of struggle that will likely become more commonplace.
- Topic:
- Economics and International Trade and Finance
- Political Geography:
- Japan, China, Indonesia, Middle East, India, Asia, and South Korea
177. The Move to Preferential Trade in the Western Pacific Rim
- Author:
- John Ravenhill
- Publication Date:
- 06-2003
- Content Type:
- Policy Brief
- Institution:
- East-West Center
- Abstract:
- Western Pacific Rim states have been slow to participate in preferential trade agreements (PTAs). In the past four years, however, more than 40 PTAs involving these economies have been proposed or are being implemented. For the first time, Japan and China have either signed or are negotiating bilateral or plurilateral agreements. The new interest in PTAs reflects the perception that they have been successful in other parts of the world, and is reinforced by dissatisfaction with the region's existing trade groupings. Although arguments can be made in favor of PTAs, they amplify political considerations in trade agreements, may adversely affect the political balance in participating countries, impose costs on nonparticipants, and deplete scarce negotiating resources. Nevertheless, the number of western Pacific Rim states participating in PTAs continues to climb. Northeast Asian countries have been following Europe in exploiting loopholes in WTO rules on PTAs to protect their noncompetitive sectors, thereby strengthening their political positions, which will likely make global liberalization more difficult.
- Topic:
- Economics and International Trade and Finance
- Political Geography:
- Japan, China, Asia, and Australia/Pacific
178. Good Intentions Will Not Pave The Road to Peace
- Publication Date:
- 09-2003
- Content Type:
- Policy Brief
- Institution:
- Center on International Cooperation
- Abstract:
- The Afghan people have been promised a lot in the last two years. New rules for a new world would be written in their country. Regime change would deliver Afghans, finally, from oppression and violence, while a Marshall Plan would give them a chance to rebuild their lives.
- Topic:
- Development, Economics, and International Cooperation
- Political Geography:
- Afghanistan and Asia
179. Revaluing the renminbi: a case of 'déjà vu all over again'?
- Author:
- Mark P Thirlwell
- Publication Date:
- 11-2003
- Content Type:
- Policy Brief
- Institution:
- Lowy Institute for International Policy
- Abstract:
- There are strong parallels between today's US-China tensions over trade and US-Japan economic relations in the 1980s.
- Topic:
- Economics
- Political Geography:
- United States, Japan, China, Israel, East Asia, and Asia
180. Clean Air for Asia - China - India - Japan - United States Cooperation to Reduce Air Pollution in China and India
- Author:
- Richard L. Lawson, John R. Lyman, Donald L. Guertin, Tarun Das, Shinji Fukukawa, and Yang Jike
- Publication Date:
- 07-2003
- Content Type:
- Policy Brief
- Institution:
- Atlantic Council
- Abstract:
- For China and India, rapid economic growth is imperative to alleviate poverty, raise income levels and improve their citizens' quality of life. In 2000, China and India's combined populations of 2.3 billion represented over 38 percent of the world's population. With both countries determined to grow their economies rapidly, there will be an associated rapid rise in energy demand. One of the most significant problems facing the two countries is the existing and increasing level of air pollution that will accompany growing energy consumption. This report focuses on the challenge of developing economic, energy, and environmental policies that will complement existing policies designed to reconcile the drive for economic growth with the need for greater environmental protection of air quality.
- Topic:
- Economics and Environment
- Political Geography:
- United States, Japan, China, India, and Asia
181. Russia's Maternal and Infant Health Crisis: Socio-Economic Implications and the Path Forward
- Author:
- Stephen M. Massey
- Publication Date:
- 12-2002
- Content Type:
- Policy Brief
- Institution:
- EastWest Institute
- Abstract:
- Today, fewer than one in three Russian newborns is healthy, disease rates among Russian children are surging, and shrinking access to quality family planning and prenatal care has worsened the state of women's reproductive health across Russia. The health of Russia's infants and children is especially significant given the country's shrinking population and the mounting problems of infectious disease, rural poverty, illegal narcotics, and alcohol abuse – all contributing factors to poor birth outcomes. The long-term economic impact of unhealthy children born in the past decade is already a serious limiting factor to Russia's emergence as a strong economic partner and international actor. Many infant deaths and childhood illnesses could be prevented with expanded investments in infrastructure and education, improved access to quality care, and reform of Russia's healthcare sector – each of which is too costly for Russia to finance on its own. Untapped opportunities also exist for collaboration between Russian, European, and American civic groups, healthcare experts, scientists, and policy leaders that would have a positive impact on maternal and child health in Russia and beyond.
- Topic:
- Economics, Human Welfare, and International Cooperation
- Political Geography:
- Russia, Europe, and Asia
182. Russia's Southern Regions: Threats and Opportunities
- Author:
- Robert Orttung
- Publication Date:
- 06-2002
- Content Type:
- Policy Brief
- Institution:
- EastWest Institute
- Abstract:
- Instability in Russia's southern regions poses a threat to the continuation of the country's overall political and economic reform, and to regional stability in Central Eurasia. These regions, which already possess Russia's most fragile local economics, face a variety of problems emanating from the weak and failing states to their immediate south. Most visibly, there is the threat of terrorism, an increasing flow of illegal narcotics from producers in Afghanistan, an influx of contraband goods that wipe out Russian jobs, and illegal immigration. With few resources and extensive corruption among key officials, Russia's southern regions are poorly equipped to deal with these problems. Developing mutually beneficial trade links between Russia's southern regions and its neighbors in Central Asia, China, and Mongolia can mitigate instability and economic stagnation in this region, help to rebuild regional economies, generate income, and better enable governments to provide security and basic human services to their people. The West can support these developments as well as help combat organized crime, target corruption, and improve border security.
- Topic:
- Security, Economics, International Cooperation, and Terrorism
- Political Geography:
- Afghanistan, Russia, China, Europe, Mongolia, and Asia
183. East Asia: Currency Cooperation
- Publication Date:
- 05-2002
- Content Type:
- Policy Brief
- Institution:
- Oxford Analytica
- Abstract:
- Former IMF First Deputy Managing Director Stanley Fischer expressed support for regional currency arrangements in a speech at the Hong Kong Monetary Authority on May 21. East Asian nations continue to discuss swap arrangements and other forms of cooperation in the hope of defending local currencies. Fischer endorsed the swap plans while throwing critical light on currency 'management' schemes. Such schemes could result in perverse consequences for regional economies.
- Topic:
- Economics, International Organization, and International Trade and Finance
- Political Geography:
- Asia and Hong Kong
184. Strengthening Financial Sector Governance in Emerging Markets
- Author:
- Robert Litan, Michael Pomerleano, and V. Sundararajan
- Publication Date:
- 07-2002
- Content Type:
- Policy Brief
- Institution:
- The Brookings Institution
- Abstract:
- Policymakers and analysts are still sifting through the wreckage of the Asian financial crisis of 1997 and the subsequent crises in Russia, Turkey, and Argentina to discern key lessons so that similar crises will not recur. Some lessons are by now well understood. Pegged exchange rates can encourage excessive borrowing and expose countries to financial collapse when foreign exchange reserves run dry. Inadequate disclosures by both private companies and public bodies can lead to similar dangers. Although many factors undoubtedly contributed to these crises, it is now widely recognized that each suffered from a failure in “governance,” and in particular a failure in governance in their financial sectors. Accordingly, the World Bank Group, the International Monetary Fund (IMF), and the Brookings Institution devoted their fourth annual Financial Markets and Development Conference, held in New York from April 17-19, 2002, to the subject of financial sector governance in emerging markets. This conference report summarizes some of the highlights of the conference, whose full proceedings will be published as a Brookings book in the fall of 2002.
- Topic:
- Economics, Emerging Markets, Government, and International Trade and Finance
- Political Geography:
- Russia, New York, Turkey, Asia, and Argentina
185. Global Economic Prospects
- Author:
- Michael Mussa
- Publication Date:
- 09-2002
- Content Type:
- Policy Brief
- Institution:
- Peterson Institute for International Economics
- Abstract:
- The global economic recovery is continuing but at a somewhat slower pace than was anticipated six months ago. Specifically, using the country weights from the IMF's World Economic Outlook, the forecast for real GDP growth in the world economy during 2002 (i.e., on a fourth-quarter-to-fourth-quarter basis) is cut by about half a percentage point to 3 percent—a pace that is slightly below my estimate of the potential growth rate for world GDP. This downward revision reflects primarily slower growth than earlier expected during the first half of 2002 in most industrial countries and the expectation that growth will remain somewhat more sluggish than earlier expected at least through year-end. For 2003, the forecast for global economic growth is also cut by about half a percentage point—to 4 percent—reflecting both general factors suggesting slightly weaker performance in many industrial and developing countries and the particular economic risks arising from possible military action against Iraq and from potential credit events affecting key developing countries. Despite these downward revisions, however, there is little doubt that the world economy will see significant improvement this year from the 1 percent growth recorded in 2001, and it is still reasonable to expect further improvement to a growth rate modestly above global potential during 2003.
- Topic:
- Economics
- Political Geography:
- United States, Iraq, Europe, Israel, Asia, South America, Latin America, and North America
186. APEC — Shanghai Accord
- Publication Date:
- 10-2001
- Content Type:
- Policy Brief
- Institution:
- Oxford Analytica
- Abstract:
- Pacific Rim leaders on October 21 signed an accord to re-invigorate progress towards free trade and investment in the region. The Shanghai Accord marks the Asia-Pacific Economic Cooperation (APEC) forum's effort to stimulate a flagging liberalisation agenda and to show leadership in promoting regional recovery. However, the accord may exacerbate the risk of further fracturing the diverse grouping. It will be difficult for APEC to move forward on trade liberalisation given that the organisation's own formulation of consensual, unbound liberalisation has proved unsuccessful in periods of economic crisis. The pathfinder initiative may re-energise the process but at the risk of APEC's fragmentation and without addressing the problems of some members' hesitation and lack of political will for domestic structural reform.
- Topic:
- Economics, International Trade and Finance, and Politics
- Political Geography:
- Shanghai and Asia
187. India/Pakistan — Peace Pipe
- Publication Date:
- 07-2001
- Content Type:
- Policy Brief
- Institution:
- Oxford Analytica
- Abstract:
- India and Iran have proposed the construction of a natural gas pipeline connection. While the project would be a major engineering achievement, the principal challenge will be gaining Islamabad's consent for it to traverse Pakistani territory. Pakistan's parlous relations with Tehran and Delhi, the latter little improved by last weekend's summit, will make this difficult.
- Topic:
- Economics, Energy Policy, and Politics
- Political Geography:
- Pakistan, South Asia, India, and Asia
188. Corruption and Globalization
- Author:
- Shang-Jin Wei
- Publication Date:
- 04-2001
- Content Type:
- Policy Brief
- Institution:
- The Brookings Institution
- Abstract:
- At least since the Asian financial crisis, the International Monetary Fund (IMF) has, from time to time, included transparency and anti-corruption measures as part of the conditions for countries to borrow its funds. Because of this, it has been criticized as having overstepped its mandate, or even having made crises worse in countries the IMF is supposed to help.
- Topic:
- Development, Economics, Globalization, and Third World
- Political Geography:
- Asia
189. United States -- Economic Slowdown?
- Author:
- Oxford Analytica
- Publication Date:
- 07-1999
- Content Type:
- Policy Brief
- Institution:
- Oxford Analytica
- Abstract:
- In recent weeks, economic data has produced conflicting signals about the strength of domestic demand within the US economy. A majority within the Federal Open Market Committee (FOMC) believes that growth will decelerate and that only a small tightening of monetary policy will be necessary in the short term. However, the Federal Reserve has consistently underestimated domestic demand, and there are signs that the economy is still buoyant. Moreover, with improving economic prospects in Europe and Asia, the external forces encouraging lower US interest rates are likely to be reversed. The combination of these factors could put pressure on the Fed to tighten further.
- Topic:
- Economics
- Political Geography:
- United States, Europe, and Asia