Political Geography: Asia / Topic: Economics

301. ASEAN Centrality?

Author:: Sheldon Simon
Publication Date:: 05-2016
Content Type:: Journal Article
Journal:: Comparative Connections
Institution:: Pacific Forum
Abstract:: The mid-February ASEAN-US Summit was the Obama administration’s effort to show ASEAN’s central role in the US rebalance to Asia. It was only partially successful. Several new business initiatives were inaugurated to link US and ASEAN entrepreneurs. However, security cooperation hardly advanced. While maritime security was included in the joint declaration, there was no mention of US freedom of navigation (FON) patrols or the South China Sea disputes. In January, the Philippine Supreme Court cleared the way for the Philippine-US Enhanced Defense Cooperation Agreement, allowing US forces rotational access to several Philippine military bases and enhancing interoperability. Washington plans to increase the frequency and “complexity” of FON patrols near the artificial islands built by China, and the US has begun joint patrols with Philippine ships. Washington also announced a Southeast Asian Maritime Security Initiative that includes a $425 million multi-year appropriation for regional capacity to improve maritime domain awareness and patrols.
Topic:: Security, Diplomacy, Economics, International Cooperation, Military Strategy, and Maritime
Political Geography:: Asia, North America, and United States of America

302. New Sanctions, Old Dilemmas

Author:: Scott Snyder and See-Won Byun
Publication Date:: 05-2016
Content Type:: Journal Article
Journal:: Comparative Connections
Institution:: Pacific Forum
Abstract:: North Korea’s fourth nuclear test in January and long-range rocket launch in February drew global opposition in the form of UN Security Council (UNSC) Resolution 2270 and condemnation by regional leaders. Pyongyang, however, promptly dismissed such calls with a series of short- and mid-range missile launches in March and April. Presidents Xi Jinping and Park Geun-hye expressed support for full implementation of UN sanctions in bilateral talks at the Nuclear Security Summit (NSS) in Washington. Foreign Ministers Wang Yi and Yun Byung-se pledged their commitment to denuclearization at the fifth Foreign Ministers Meeting of the Conference on Interaction and Confidence Building Measures in Asia (CICA) in Beijing on April 27-28, where Xi declared that China “will absolutely not permit war or chaos on the peninsula.” Despite Beijing’s hardened rhetoric, current tensions on the Korean Peninsula point to enduring differences between Beijing and Seoul’s strategic preferences.
Topic:: Arms Control and Proliferation, Diplomacy, Economics, Military Strategy, Sanctions, and Denuclearization
Political Geography:: China, Asia, and North Korea

303. Friction and Cooperation Advance Simultaneously

Author:: Bonnie S. Glaser and Alexandra Viers
Publication Date:: 09-2016
Content Type:: Journal Article
Journal:: Comparative Connections
Institution:: Pacific Forum
Abstract:: Senior US and Chinese officials publicly emphasized positive developments in the bilateral relationship at the eighth US-China Strategic and Economic Dialogue, while privately raising concerns. The second US-China Cybercrime and Related Issues High-Level Joint Dialogue convened a week later. The South China Sea persisted as a major area of tension as an UNCLOS Tribunal ruled in favor of the Philippines in its case against China. National Security Adviser Susan Rice traveled to Beijing in late July to prepare for the US participation in the G20 Summit in Hangzhou and what is likely to be the last meeting between Xi Jinping and President Obama. Bilateral military ties maintained an active pace with a visit by the US chief of naval operations to China in July, a port visit by a US guided-missile destroyer to Qingdao in August, and Chinese participation in the Rim of the Pacific (RIMPAC) military exercises in Hawaii.
Topic:: Development, Diplomacy, Economics, and Bilateral Relations
Political Geography:: China, Asia, North America, and United States of America

304. Progress on Defense while Economic Issues Lag

Author:: Satu Limaye
Publication Date:: 09-2016
Content Type:: Journal Article
Journal:: Comparative Connections
Institution:: Pacific Forum
Abstract:: Since relations were reset following President Obama’s visit to India in January 2015, there have been three visits to the US by Prime Minister Modi. The US and India have also conducted two iterations of the Strategic and Commercial Dialogue (S&CD), exchanged multiple Cabinet-level visits, and announced new initiatives to broaden and deepen dialogue and produce outcomes. Over the past year and a half, the absence of drama has allowed for notable progress in the area of defense relations, but just as notably little progress on key trade and investment issues even as bilateral trade and investment grows. After three decades and three US presidents with strong commitments to the bilateral relationship, it remains to be seen whether a new US president will reciprocate Modi’s expressed and demonstrated interest in strong US-India relations. Since then, there have been three further visits to the US by Prime Minister Modi – in September 2015 for meetings at the United Nations as well as outreach to the Indian-American community and US business community, in April 2016 to attend the Nuclear Security Summit, and in June 2016 for a final summit with President Obama and a speech to a joint session of Congress. The US and India have also conducted two iterations of the newly-launched Strategic and Commercial Dialogue (S&CD) modeled on the US-China Strategic and Economic Dialogue, exchanged multiple Cabinet-level and senior officials visits, and announced new initiatives (e.g., upgraded UN and Multilateral Dialogue, Maritime Security Dialogue, consultations on Africa) to broaden and deepen dialogue and produce outcomes. During the period under review (March 2015 to September 2016), there have been no dramatic events similar to PM Modi being “unbanned” from visiting the US. The absence of drama has allowed for notable progress in the area of defense relations, but just as notably little progress on key trade and investment issues even as bilateral trade and investment grows. After three decades and three US presidents with strong personal and policy commitments to the bilateral relationship, it remains to be seen whether a new US president will reciprocate Prime Minister Modi’s expressed and demonstrated interest in strong US-India relations. Unlike divergences between the current two US presidential candidates on a host of foreign policy issues and in particular relations with the Asia-Pacific, statements and indications by the Clinton and Trump campaigns suggest a strong commitment to continued improvements in US-India relations. Both party platforms specifically address the importance of India, though it is noteworthy that the Republican platform raises issues about India’s commercial openness and the country’s treatment of religious minorities.
Topic:: Defense Policy, Diplomacy, Economics, and International Cooperation
Political Geography:: India, Asia, North America, and United States of America

305. Reaching the Limits: China as a Responsible Stakeholder

Author:: John Lee
Publication Date:: 07-2016
Content Type:: Working Paper
Institution:: Project 2049 Institute
Abstract:: Given the U.S.-China economic relationship and China’s importance in Asia, America’s temptation is to seek a comprehensive cooperative framework to perpetuate its leadership and “tame” a rising China in order to promote stability in the region. Increasing economic interdependence does create common interests, and structured dialogues can reduce misunderstanding. But as Asia’s preeminent power and civilization for all but 200 of the past 3,000 years, China is too big, proud, and independently minded for America to “tame” or “manage.” Washington cannot hope to decisively determine the endgame for an authoritarian China-in which the CCP, leading a country of 1.4 billion people, will choose to become a “responsible stakeholder” within a U.S.-led order.
Topic:: Economics, Bilateral Relations, Geopolitics, International Order, and Stakeholders
Political Geography:: China, Asia, North America, and United States of America

306. One Million Opportunities: The Impact of Mobile Internet on the Economy of Southeast Asia

Author:: Oxford Economics
Publication Date:: 06-2016
Content Type:: Research Paper
Institution:: Oxford Economics
Abstract:: This study investigated the economic and social impact of mobile internet technology across the economies of South East Asia. In-house econometric research established the relationship between mobile internet penetration and key enablers of supply side growth including productivity and labour force participation. These results were applied to a group of economies in South East Asia to quantify the economic benefits of observed and forecast future increases in mobile internet penetration. Overall, increased mobile internet penetration is forecast to create an extra $58.1 billion in GDP and one million new job opportunities by 2020.
Topic:: Economics, Internet, Mobility, and Social Order
Political Geography:: Asia and Southeast Asia

307. Global Value Chains or Global Poverty Chains? A new research agenda

Author:: Benjamin Selwyn
Publication Date:: 06-2016
Content Type:: Working Paper
Institution:: Centre for Global Political Economy, University of Sussex
Abstract:: Global Value Chain (GVC) analysis is part and parcel of mainstream development discourse and policy. Supplier firms are encouraged, with state support, to ‘link-up’ with trans-national lead firms. Such arrangements, it is argued, will reduce poverty and contribute to meaningful socio-economic development. This portrayal of global political economic relations represents a ‘problem-solving’ interpretation of reality. This article proposes an alternative analytical approach rooted in ‘critical theory’ which reformulates the GVC approach to better investigate and explain the reproduction of global poverty, inequality and divergent forms of national development. It suggests re-labelling GVC as Global Poverty Chain (GPC) analysis. GPC’s are examined in the textiles, food, and high-tech sectors. The article details how workers in these chains are systematically paid less than their subsistence costs, how trans-national corporations use their global monopoly power to capture the lion’s share of value created within these chains, and how these relations generate processes of immiserating growth. The article concludes by considering how to extend GPC analysis.
Topic:: Development, Economics, International Political Economy, Labor Issues, Inequality, and Global Political Economy
Political Geography:: United States, Eastern Europe, and Asia

308. Keeping EU-Asia Reengagement on Track

Author:: Richard Youngs
Publication Date:: 01-2015
Content Type:: Working Paper
Institution:: Carnegie Endowment for International Peace
Abstract:: The relationship between the European Union (EU) and Asia is in flux. The EU intensified its economic ties to Asia and boosted its security cooperation in the region in 2011 and 2012. But new challenges, including the crises in Ukraine and the Middle East, have made it difficult to sustain this incipient momentum. There are a number of steps that EU and Asian governments can and should take to continue to strengthen their relations.
Topic:: Security, Diplomacy, and Economics
Political Geography:: Europe, Ukraine, Middle East, and Asia

309. Pivot 2.0

Author:: Victor D. Cha, Michael J. Green, and Nicholas Szechenyi
Publication Date:: 01-2015
Content Type:: Working Paper
Institution:: Center for Strategic and International Studies
Abstract:: Opinion surveys demonstrate that a majority of Americans consider Asia the most important region to U.S. interests and a majority of Asian experts support the Obama administration's goal of a “pivot” or “rebalance” to the Asia-Pacific region.1 Yet doubts have also grown about whether the pivot can be sustained by a president politically weakened by the 2014 midterm results, constrained by budget sequestration, and pulled into crises from Ukraine to Iraq and Iran. On issues from immigration to Cuba policy, the Obama administration and the incoming Republican Congress appear set for confrontation. Yet Asia policy remains largely bipartisan—perhaps the most bipartisan foreign policy issue in Washington. It is therefore critical—and practical— to ask that the White House and the Republican leadership in the Congress chart a common course on policy toward Asia for the next two years. This report outlines concrete areas for action on trade, China, defense, Korea, India, and Southeast Asia.
Topic:: Diplomacy, Economics, International Trade and Finance, and Politics
Political Geography:: Asia

310. David Martin Jones, Nicholas Khoo and MLR Smith, Asian Security and the Rise of China: International Relations in an Age of Volatility

Author:: Dylan Kissane
Publication Date:: 02-2015
Content Type:: Journal Article
Journal:: Central European University Political Science Journal
Institution:: Central European University
Abstract:: If there is one issue in contemporary international relations that continues to provoke interest in academic and policy making circles alike it is how states, regions and the world should react to a rising China. While the influence of the People's Republic is being felt from Africa and the Global South through to the developed economies of North America and Europe, it is in East Asia where a re-emerging China has most focused the minds of diplomats and strategists, leaders and scholars and, indeed, the military men and women who must navigate this increasingly precarious great power polity. Within this East Asian context this new volume by David Martin Jones, Nicholas Khoo and MLR Smith delivers thoughtful and attentive analysis to the problem of responding to China's rise. The book is neither a historical account of the rise of China, though it does offer sufficient historical contextualisation for the reader, or another collection of prescriptive policy suggestions, though there are clear conclusions made about which regional and state strategies have best dealt with the rise of the Sinic superpower. Instead, this book is a theoretically informed, consistently argued and well written account of how states in a broadly defined East Asia have and continue to react to the changing security environment that confronts them in the first decades of the twenty-first century.
Topic:: International Relations, Security, Economics, and Environment
Political Geography:: Africa, China, America, and Asia

311. Everyone Pivots to the Asia-Pacific

Author:: Ralph A. Cossa and Brad Glosserman
Publication Date:: 02-2015
Content Type:: Journal Article
Journal:: Comparative Connections
Institution:: Center for Strategic and International Studies
Abstract:: A trifecta of international gatherings – the Asia Pacific Economic Cooperation (APEC) Leaders Meeting in Beijing, the East Asia Summit (EAS) in Nay Pyi Taw, and the G-20 gathering in Brisbane – had heads of state from around the globe, including US President Barack Obama, flocking to the Asia-Pacific as 2014 was winding to a close. North Korea was not included in these confabs but its leaders (although not the paramount one) were taking their charm offensive almost everywhere else in an (unsuccessful) attempt to block a UN General Assembly resolution condemning Pyongyang's human rights record. More successful was Pyongyang's (alleged) attempt to undermine and embarrass Sony Studios to block the release of a Hollywood film featuring the assassination of Kim Jong Un.
Topic:: Economics
Political Geography:: Asia and North Korea

312. Capital Flows and Capital Account Management in Selected Asian Economies

Author:: Rajeswari Sengupta and Abhuit Sen Gupta
Publication Date:: 04-2015
Content Type:: Working Paper
Institution:: Centre for International Governance Innovation
Abstract:: Gross capital inflows and outflows to and from emerging market economies have witnessed a significant increase since the early 2000s. This rapid increase in the volume of flows, accompanied by sharp swings in volatility, has amplified the complexity of macroeconomic management in emerging economies. This paper focuses on capital flows in selected emerging Asian economies, analyzing surge and stop episodes as well as changes in the composition of flows across these episodes, then evaluating the policy measures undertaken by these economies in response to the surge and stop of capital flows. This kind of analysis is highly relevant, especially at a time when emerging economies around the world are facing the repercussions of a potential monetary policy normalization in the United States and continuing quantitative easing measures by the European Central Bank, either of which could once again heighten the volatility of cross-border capital flows, thereby posing renewed macroeconomic challenges for major EMEs.
Topic:: Economics, Emerging Markets, International Trade and Finance, and Monetary Policy
Political Geography:: Asia

313. An Assessment of the Korea-China Free Trade Agreement

Author:: Jeffrey Schott, Eujiin Jung, and Cathleen Cimino-Isaacs
Publication Date:: 12-2015
Content Type:: Policy Brief
Institution:: Peterson Institute for International Economics
Abstract:: Of all the free trade agreements (FTAs) concluded by Korea with its major trading partners since the turn of the century, the Korea-China FTA may be the largest in trade terms. It is, however, far from the best in terms of the depth of liberalization and the scope of obligations on trade and investment policies. Korea and China agreed to liberalize a large share of bilateral trade within 20 years, but both sides incorporated extensive exceptions to basic tariff reforms and deferred important market access negotiations on services and investment for several years. Political interests trumped economic objectives, and the negotiated outcome cut too many corners to achieve such a comprehensive result. The limited outcome in the Korea-China talks has two clear implications for economic integration among the northeast Asian countries. First, prospects for the ongoing China-Japan-Korea talks will be limited and unlikely to exceed the Korea-China outcome. Second, Korea and Japan need to strengthen their bilateral leg of the northeast Asian trilateral and the best way is by negotiating a deal in the context of the Trans-Pacific Partnership.
Topic:: Economics, International Trade and Finance, Politics, and Bilateral Relations
Political Geography:: United States, China, Asia, and Korea

314. Enhancing Financial Stability in Developing Asia

Author:: Adam S. Posen and Nicolas Veron
Publication Date:: 09-2015
Content Type:: Working Paper
Institution:: Peterson Institute for International Economics
Abstract:: Given no generally accepted framework for financial stability, policymakers in developing Asia need to manage, not avoid, financial deepening. This paper supports Asian policymakers' judgment through analysis of the recent events in the United States and Europe and of earlier crisis episodes, including Asia during the 1990s. There is no simple linear relationship between financial repression and stability—financial repression not only has costs but, so doing can itself undermine stability. Bank-centric financial systems are not inherently safer than systems that include meaningful roles for securities and capital markets. Domestic financial systems should be steadily diversified in terms of both number of domestic competitors and types of savings and lending instruments available (and thus probably types of institutions). Financial repression should be focused on regulating the activities of financial intermediaries, not on compressing interest rates for domestic savers. Cross-border lending should primarily involve creation of multinational banks' subsidiaries in the local economy—and local currency lending and bond issuance should be encouraged. Macroprudential tools can be useful, and, if anything, are more effective in less open or less financially deep economies than in more advanced financial centers.
Topic:: Economics, International Trade and Finance, Markets, and Politics
Political Geography:: Asia

315. Russia's Pivot to Asia: Myths and Realities

Author:: Daniele Fattibene
Publication Date:: 11-2015
Content Type:: Working Paper
Institution:: Istituto Affari Internazionali
Abstract:: Russia’s “pivot to Asia” has come to the fore in the wake of the crisis over Ukraine. Growing tensions with the West over the common neighbourhood, coupled with economic sanctions, have accelerated this trend, with China gaining in strength as both an economic and military partner to Moscow. The Kremlin’s propaganda has sought to convince the broader public that Russia’s strategies in Eastern Europe, Central Asia and the Arctic region are a complement to China’s new Silk Road Economic Belt. Nonetheless, behind the headlines huge potential problems jeopardise the emergence of a durable Sino-Russian consensus in Eurasia. Against this backdrop, the EU should opt for “strategic patience.” This would be a far more effective policy choice than finger pointing, which only deepens the mutual ideological clash between the EU and Russia.
Topic:: Diplomacy, Economics, International Trade and Finance, Bilateral Relations, and Sanctions
Political Geography:: Russia, China, and Asia
Publication Identifier:: 978-88-98650-69-9
Publication Identifier Type:: ISBN

316. The Future of Worldwide Income Distribution

Author:: Tomas Hellebrandt and Paolo Mauro
Publication Date:: 04-2015
Content Type:: Working Paper
Institution:: Peterson Institute for International Economics
Abstract:: Over the next two decades the structure of world population and income will undergo profound changes. Global income inequality is projected to decline further in 2035, largely owing to rapid economic growth in the emerging-market economies. The potential pool of consumers worldwide will expand significantly, with the largest net gains in the developing and emerging-market economies. The number of people earning between US$1,144 and US$3,252 per year in 2013 prices in purchasing power parity terms will increase by around 500 million, with the largest gains in Sub-Saharan Africa and India; those earning between US$3,252 and US$8,874 per year in 2013 prices will increase by almost 1 billion, with the largest gains in India and Sub-Saharan Africa; and those earning more than US$8,874 per year will increase by 1.2 billion, with the largest gains in China and the advanced economies.
Topic:: Economics, Emerging Markets, Globalization, and Labor Issues
Political Geography:: Africa and Asia

317. Financing Productivity- and Innovation-Led Growth in Developing Asia: International Lessons and Policy Issues

Author:: Ajai Chopra
Publication Date:: 03-2015
Content Type:: Working Paper
Institution:: Peterson Institute for International Economics
Abstract:: Growth in developing Asia will need to rely more on improvements in productivity growth and less on capital deepening. Although there is no single reform path to spur productivity growth, financial system deepening is central to a more efficient allocation of capital across sectors and can facilitate innovation and technology transfer. But malfunctioning financial systems can also result in the misallocation of resources, making it important that policymakers focus less on increasing the size of the financial sector and more on improving its intermediation function. Chopra discusses the steps to mobilize Asia's ample private savings for long-term financing, especially to tackle the region's infrastructure deficit and improve access to financing for small and medium enterprises, which can help raise productivity. As many countries in Asia shift from a development model based on technology absorption to one that promotes innovation, specialized finance and investors can play a critical role in allowing innovative firms to conduct research, adopt technologies necessary for inventions, and ultimately commercialize innovations.
Topic:: Economics, International Trade and Finance, Markets, and Science and Technology
Political Geography:: Asia

318. The Financial Sector and Growth in Emerging Asian Economies

Author:: William R. Cline
Publication Date:: 03-2015
Content Type:: Working Paper
Institution:: Peterson Institute for International Economics
Abstract:: The financial sectors in Asian emerging-market economies are now relatively unlikely to provoke new financial crises, either because of reforms after the East Asian financial crisis in the later 1990s or because of the dominance of state-owned banks not subject to bank runs. Financial intermediation is surprisingly high and is consistent with higher rates of saving and investment and hence growth in the main economies of the region (as compared to, say, counterparts in Latin America). Nonetheless, there are sharply diverging patterns (e.g., high foreign ownership of banks in Korea versus minimal presence in China) and differing national structures (bank dominated, portfolio oriented, and diversified) within Asia. Cline recommends establishing long-term plans to improve efficiency in state-owned banks or reduce their dominance and pursuing bank capitalization targets at least as ambitious as those of Basel III. Cline also calls for ensuring adequate regulation of growing nonbank intermediaries, reversing a recent trend toward national barriers to foreign banks in some economies, and improving the legal security of bank regulators.
Topic:: Economics, Emerging Markets, Financial Crisis, and Reform
Political Geography:: Asia

319. China's New Silk Road Initiative

Author:: Zhao Minghao
Publication Date:: 10-2015
Content Type:: Working Paper
Institution:: Istituto Affari Internazionali
Abstract:: The European Council has mandated the High Representative of the Union for Foreign Affairs and Security Policy, Federica Mogherini, to draft a Global Strategy by June 2016. Given Europe’s status as a global power, such a strategy must respond to Europe’s own challenges as well as to the new grand strategies of other major players in world politics, like China. To better understand the central tenets of the Chinese leadership’s strategic thinking, two keywords are most important – the “Four Comprehensives” and the “One Belt and One Road” (OBOR). As an initiative mainly focusing on promoting Eurasian integration and reshaping Chinese geo-economic advantages, the OBOR is highly consequential to China’s interactions with Europe and the rest of the world at large in the decades to come. How to take advantage of the OBOR, create new EU-China synergies, and tackle relevant challenges are questions the EU leaders should be attentive to.
Topic:: Economics, International Cooperation, International Trade and Finance, Markets, and Bilateral Relations
Political Geography:: Europe and Asia
Publication Identifier:: 978-88-98650-61-3
Publication Identifier Type:: ISBN

320. ASEAN: Creating the Rules-Based Architecture in Asia

Author:: Nina Hachigan
Publication Date:: 09-2015
Content Type:: Journal Article
Journal:: The Ambassadors Review
Abstract:: In my second week on the job as the second United States Ambassador to the Association of Southeast Asian Nations (ASEAN), I headed to Naypyidaw, Burma to meet President Obama at the East Asia Summit. There I witnessed one of the many reasons the United States has increased its engagement with ASEAN: ASEAN convenes Asia. In 1967, leaders of five nations formed ASEAN, renouncing the violence that had characterized their relationships and dedicating themselves to furthering the prosperity of the region. Five more countries joined in the intervening decades and now ASEAN’s Member States, with a total population of some 625 million, are Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. ASEAN has delivered well on its primary mission: to keep the peace among a group of member states with huge diversity in levels of economic development, political systems, cultures, religions, and size. This foundation of geopolitical stability has allowed the economies in Southeast Asia to take off and lift tens of millions out of poverty. As a whole, ASEAN has enjoyed the third highest growth rate in the world over the past decade.
Topic:: Development, Economics, Human Welfare, Poverty, and Regional Cooperation
Political Geography:: Asia

321. Unconventional Monetary Policy, Spillovers, and Liftoff: Implications for Northeast Asia

Author:: Marcus Noland
Publication Date:: 11-2015
Content Type:: Policy Brief
Institution:: East-West Center
Abstract:: Unconventional monetary policy (UMP) has had predictable effects. How exit plays out is scenario-dependent. Quantitative easing has had the predictable effect of encouraging currency depreciation and some partner countries may have attempted to offset these exchange rate effects. Korea presents a particularly interesting case: it is relatively small and relatively open and integrated, in both trade and financial terms, with the United States and Japan, two practitioners of UMP. Authorities have acted to limit the won's appreciation primarily against the currency of China, not the US or Japan. Nevertheless, Korea's policy is a source of tension with the US. Under legislation currently being considered, the currency manipulation issue could potentially interfere with Korean efforts to attract direct investment from the US and create an obstacle to Korea joining the Trans-Pacific Partnership.
Topic:: Economics, International Trade and Finance, Political Economy, Monetary Policy, and Foreign Direct Investment
Political Geography:: Asia

322. The ASEAN Economic Community: What Stands in the Way?

Author:: Jon Dorsch
Publication Date:: 09-2015
Content Type:: Policy Brief
Institution:: East-West Center
Abstract:: At the end of 2015 the Association of Southeast Asian Nations (ASEAN) will announce the establishment of the ASEAN Economic Community (AEC). In theory, this agreement should produce an association-wide economic integration. However, following the announcement, and for the foreseeable future, ASEAN member states will continue in significantly less than full regional economic integration. Why? Some observers believe that the AEC plans involve an "overly ambitious timeline and too many ill-thought-out initiatives." Others point to ASEAN's traditional aversion to legally binding agreements. While progress has been made in reducing or eliminating intra-ASEAN trade tariffs, substantial non-tariff barriers to trade persist. However, for most member states, the ASEAN market is relatively small while external markets, especially China, are growing rapidly. Given this outward-orientation for ASEAN trade, is the lack of an unhindered regional market really a problem?
Topic:: Economics, International Trade and Finance, and Markets
Political Geography:: China and Asia

323. China’s Rise and Reconfiguration of Central Asia’s Geopolitics: A Case for U.S. "Pivot" to Eurasia

Author:: Roman Muzalevsky
Publication Date:: 07-2015
Content Type:: Working Paper
Institution:: The Strategic Studies Institute of the U.S. Army War College
Abstract:: China’s emergence as a global actor has questioned the position of the United States as the strongest power and the future of the Washington-led global order. To achieve the status of a truly global player wielding influence in all dimensions of power would require China to leverage its regional influence in Central Asia. This region is increasingly representing China’s western leg of economic expansion and development, and is of a growing strategic importance for Beijing. It is also a region that should be of greater strategic importance to Washington, which seeks to preserve its leading position in the international system and ensure China’s peaceful integration in the global political, security, and economic architecture.
Topic:: Economics, International Cooperation, International Trade and Finance, Hegemony, Global Markets, and Global Security
Political Geography:: China, Eurasia, and Asia

324. Full Issue: Money & War

Author:: Sarah Detzner, James Copnall, Alex de Waal, Ian M. Ralby, Joshua Stanton, Ibrahim Warde, Leon Whyte, Richard Weitz, Jessica Knight, John H. Maurer, Alexander Tabarrok, Alex Nowrasteh, Tom Keatinge, Emily Knowles, Karolina MacLachlan, Andrew Lebovich, Caroline Troein, and Anne Moulakis
Publication Date:: 01-2015
Content Type:: Journal Article
Journal:: Fletcher Security Review
Institution:: The Fletcher School, Tufts University
Abstract:: The Fletcher Security Review: Managed and edited by students at the Fletcher School of Law and Diplomacy, we build on the Fletcher School’s strong traditions of combining scholarship with practice, fostering close interdisciplinary collaboration, and acting as a vehicle for groundbreaking discussion of international security. We believe that by leveraging these strengths – seeking input from established and up-and-coming scholars, practitioners, and analysts from around the world on topics deserving of greater attention – we can promote genuinely unique ways of looking at the future of security. Each issue of the Review is centered around a broad theme – in this issue, we tackle “Money & War.” Money influences every aspect of warfare, conventional or unconventional. No nationstate military, insurgent group, terrorist network, trans-national criminal organization, or hybrid actor can be understood, or countered, without knowing where the money is coming from – as well as where, and how, it gets spent. Evolutions and revolutions in financial tools and practices quickly translate to transformations in military affairs, and some cases, vice versa.
Topic:: Security, Foreign Policy, Economics, Human Rights, Governance, Sanctions, Military Affairs, Finance, Islamic State, Navy, Arab Spring, Maritime, Conflict, Multilateralism, Islamism, Drugs, and Currency
Political Geography:: Afghanistan, Africa, China, Iran, Sudan, Darfur, Middle East, Asia, North Korea, Mali, Asia-Pacific, Sahel, United States of America, and North America

325. Fletcher Opening Arctic Conference

Author:: Rabia Altaf, Molly Douglas, and Drew Yerkes
Publication Date:: 09-2015
Content Type:: Journal Article
Journal:: Fletcher Security Review
Institution:: The Fletcher School, Tufts University
Abstract:: Many Western leaders point to the Arctic as a zone of cooperation—and we have observed such cooperation with the formulation of the Arctic Council, joint scientific endeavors, Search and Rescue agreements, and the very recent Arctic Coast Guard Forum—but disputes between Russia and other Arctic nations in regions to the south have raised concerns in certain quarters. While an ongoing struggle for dominance over the Northern Sea Route and Northwest Passage and competing continental shelf claims may reflect these tensions, tit-for-tat military exercises and plans for expanded military infrastructure in the Arctic certainly do. The Russian government recently announced completion of a new military base in Franz Josef Land capable of supporting 150 soldiers, as well as its intention to rebuild six existing airfields. While such a nominal increase in military personnel posted to the Arctic may merely be seen as a posturing act, taken in context with Russia’s recent actions in Europe and the Middle East, it might also be seen as a bold move to project power from a previously overlooked region.
Topic:: Security, Economics, International Cooperation, and Geopolitics
Political Geography:: Russia, China, Asia, North America, Arctic, and United States of America

326. China Makes Strides with AIIB and a Great Wall of Sand

Author:: Bonnie S. Glaser and Jacqueline Vitello
Publication Date:: 05-2015
Content Type:: Journal Article
Journal:: Comparative Connections
Institution:: Pacific Forum
Abstract:: 2015 opened with high-level exchanges in preparation for the Strategic and Economic Dialogue, scheduled for early summer, and Xi Jinping’s state visit in September. Visits to China were made by Deputy Secretary of State Tony Blinken, Treasury Secretary Jacob Lew, Commerce Secretary Penny Pritzker, and Homeland Security Secretary Jeh Johnson. Chinese State Councilor Yang Jiechi met National Security Adviser Susan Rice in New York. Military exchanges included dialogues, ship visits, joint drills, and video calls. The South China Sea remained a source of friction as evidence mounted that China is building military outposts on reefs in the Spratly Islands. In response to the issuance of the revised US-Japan Defense Guidelines, China voiced concerns and called the alliance outdated. Despite US objections, a total of 57 countries signed up to be founding members of the Chinese-led Asian Infrastructure Investment Bank. China held its annual meetings of the National People’s Congress and the Chinese People’s Political Consultative Congress, announcing an economic growth target of around 7 percent and an increase in its defense budget of 10.1 percent in 2015.
Topic:: Economics, Military Strategy, Territorial Disputes, and Infrastructure
Political Geography:: China and Asia

327. Ambitious Economic Initiatives amid Boundary Disputes

Author:: Chin-Hao Huang and Robert G. Sutter
Publication Date:: 05-2015
Content Type:: Journal Article
Journal:: Comparative Connections
Institution:: Pacific Forum
Abstract:: Beijing’s recent economic initiatives with neighboring countries focus on the Asian Infrastructure Investment Bank (AIIB) and the Chinese Silk Road Fund. The Boao Forum featured a keynote speech by President Xi Jinping emphasizing the AIIB and Silk Road Fund support for infrastructure connectivity with neighbors to create a “common destiny.” Against that positive background, lower-level Chinese officials, using carefully measured language, rebuffed complaints by the Philippines, Vietnam and the US protesting China’s rapid creation and expansion of islands through massive dredging and follow-up construction of facilities. Senior leaders did respond sharply when Myanmar armed forces killed Chinese civilians in a cross-border air attack in March. In a departure from past practice, ASEAN leaders publicly registered serious concern about the land reclamation in the South China Sea. Against that positive background, Chinese leaders generally sidestepped the strong language seen at the annual Chinese People’s Congress meetings and other venues in the recent past regarding Chinese determination to protect disputed sovereignty and insure peace through strength in dealing with territorial disputes. Senior leaders did respond sharply when Myanmar armed forces killed Chinese civilians in a cross-border air attack in March as the Myanmar military suppressed resistance by an ethnic militia with close historic ties to China. Chinese leaders tended to leave publicizing South China Sea disputes to lower-level officials, using carefully measured language to rebuff complaints made by US, Philippine, and Vietnamese representatives protesting China’s rapid creation and expansion of islands through massive dredging and follow-up construction of facilities for surveillance and power projection. In a departure from past practice, ASEAN leaders on April 27 publicly registered serious concern about the land reclamation in the South China Sea.
Topic:: Economics, Military Strategy, Territorial Disputes, and Conflict
Political Geography:: China, Asia, and Myanmar

328. Looking to a Different Future

Author:: David G. Brown and Kevin Scott
Publication Date:: 05-2015
Content Type:: Journal Article
Journal:: Comparative Connections
Institution:: Pacific Forum
Abstract:: Taipei’s relations with Beijing have been adrift with the Ma administration in a reactive mode. The main interactions have been on unexpected issues – China’s M503 air route and Taiwan’s effort to join the Asian Infrastructure Investment Bank (AIIB) – and results were mixed. Meanwhile all players are preparing for a different future. The KMT is trying to reform itself; new chairman Eric Chu Li-lun visited China and met General Secretary Xi Jinping in early May. Beijing is focused on working with the new KMT and on deterring the DPP from returning to office in 2016. The DPP and Chairperson Tsai Ing-wen have begun defining its policy toward Beijing before Tsai visits Washington in June.
Topic:: Diplomacy, Economics, Territorial Disputes, and Conflict
Political Geography:: China, Taiwan, and Asia

329. The Rebalance Picks up Steam

Author:: Brad Glosserman and Ralph A. Cossa
Publication Date:: 09-2015
Content Type:: Journal Article
Journal:: Comparative Connections
Institution:: Pacific Forum
Abstract:: The big news over the summer is the granting of “fast track” Trade Promotion Authority to President Obama by the US Congress. This keeps hopes alive for the Trans-Pacific Partnership, the economic centerpiece of the Obama administration’s rebalance to Asia. The political and military legs of this multidimensional strategy got a boost as Secretary of State John Kerry attended the annual ASEAN Regional Forum ministerial meeting and Secretary of Defense Ashton Carter headlined the show at the Shangri-La Dialogue. China continues to make its presence felt in regional affairs as well; President Xi Jinping attended meetings in Ufa, Russia with other BRICS and Shanghai Cooperation Organization leaders and hosted a Conference on Interaction and Confidence Building Measures in Asia (CICA) Special Working Group and Senior Officials Committee Meeting and first CICA Youth Council Conference in Beijing, while continuing to pursue his Silk Road and Asian Infrastructure Investment Bank initiatives, even as China’s economy took a significant hit. Meanwhile, Pyongyang engaged in another round of Russian roulette but backed down when it became apparent Seoul was prepared to pull the trigger. Finally, the 70th anniversary of the end of World War II put history on the front pages. That opened the door to the next round of negotiations among TPP representatives in July in Maui, but they couldn’t close the deal. Post-mortems blamed disputes between Japan and North America over cars (Mexico was particularly incensed over “rules of origin” that would impact its access to the US market), New Zealand recalcitrance over trade in dairy items (pique inspired by Canada’s refusal to open its market, which prompted the US and Japan to low-ball their offers), a split between Australia and the US over sugar markets, and US resistance to any cuts in the duration of intellectual property rights monopoly periods for next-generation drugs. US Trade Representative Michael Froman said the talks made “significant progress” – Australian Trade Minister Andrew Robb agreed, adding that “98 percent is concluded” – but the tough issues remained, well, hard to resolve. In his analysis for The Oriental Economist, Rick Katz argued that deals negotiated with Congress to secure TPA reduced Froman’s negotiating room. There is fear now that the failure to reach agreement means that no deal will be concluded for at least another year and a half. Canada holds an election in October and the conservative government of Prime Minister Stephen Harper needs to hold the line on agriculture imports to avoid losing votes. That means that he cannot negotiate a deal until after that ballot – assuming he wins; an opposition victory will raise the bar to any deal – which then pushes any final agreement to 2016 and the midst of a US presidential campaign, which is no time for bold legislative action. If that assessment is correct, then there is the possibility that a final deal won’t be concluded until 2017 or 2018.
Topic:: Diplomacy, Economics, International Trade and Finance, and Regional Cooperation
Political Geography:: Asia, North America, and United States of America

330. China's Political-Economic Institutions and Development

Author:: Chenggang Xu
Publication Date:: 10-2015
Content Type:: Journal Article
Journal:: The Cato Journal
Institution:: The Cato Institute
Abstract:: After more than three decades of economic reform, China has transformed from being one of the poorest economies in the world to being the second-largest economy measured by nominal exchange rates, or the largest economy measured by purchasing power. As such, it is important to elucidate the determinants of China’s future development. This article will focus on China’s institutions. I argue that although the size of China’s economy is extremely important in terms of its impact on the global economy, it is misleading to ignore political and economic institutions. Indeed, forecasts based on extrapolating past trends could be erroneous (see Pritchett and Summers 2014). China was the largest economy in the world before the end of the 19th century but then lost ground to Western nations that established the rule of law and free trade. To understand China’s past and future development, one has to examine its institutions.
Topic:: Economics, Reform, and Global Political Economy
Political Geography:: China and Asia

331. Canada and Asia: Prosperity and Security

Author:: Marius Grinius
Publication Date:: 06-2015
Content Type:: Working Paper
Institution:: Canadian Global Affairs Institute (CGAI)
Abstract:: Arguably the mid-1990s were Canada’s “Golden Age of Asia”, highlighted by the Team Canada trade visits by Prime Minister Jean Chretien and the provincial Premiers to China, India, Pakistan and Japan, as well as to Indonesia, Malaysia, the Philippines, Vietnam and Thailand. At the same time Canada played a prominent role in Asian security matters. This included Canadian expert participation in multilateral discussions on the South China Sea and in the North Pacific Cooperative Security Dialogue, a Canadian initiative. That particular Golden Age culminated with the Government proclaiming 1997 as “Canada’s Year of Asia Pacific”. Trade statistics indicate that Canada has once again rediscovered Asia, at least in terms of commercial prospects. What is less clear, however, is Canada’s commitment to the security and stability challenges that Asia continues to face. Notwithstanding all of the positive indicators of economic success in the Asia-Pacific region and all of the incentives for even greater prosperity within a predictable and peaceful environment, there are still many instances of potential military conflict that could jeopardize Asia’s economic successes. While Canada has considerable economic interests in Asia Pacific, its security record there is modest. Now, when China is our number two trading partner and Japan is number three, when we have our first Asian Free Trade Agreement, when we are looking to closer economic ties with the Asia-Pacific region, it would make sense for Canada to contribute more substantially to Asia Pacific’s long-term stability and security architecture. It has in the past. Canada has expressed its desire to join the East Asia Summit and the ASEAN Defence Ministers Meeting Plus Forum. It appears, however, that ASEAN is still not quite convinced of Canada’s commitment to Southeast Asia, or to Asia, and continues politely to stall until such time as Canada can show a serious, long-term track record of participation in ASEAN strategic and security priorities. The Asian way requires frequent and consistent face-time. Relationships matter. The regular message from polite ASEAN interlocutors remains the same: where is Canada? From the late 1980s and to about 2006, Canadian academic experts were closely involved in all relevant Asian fora, including the Pacific Economic Cooperation Council, the Council for Security Cooperation in Asia Pacific and the North Pacific Cooperative Security Dialogue. The Canadian Consortium on Asia Pacific Security, a group of some one hundred researchers across Canada, was highly active in Track II diplomacy (informal, non-governmental and unofficial) on Asian security issues. This included Canadian Law of the Sea experts who addressed South China Sea issues, a ten-year effort co-hosted and funded by Indonesia and CIDA. Government of Canada funding for this type of work, however, has dried up. All current Canadian Track II efforts are funded by private institutions. Just when China is taking an aggressive stance in the South China Sea, Canada is absent. Canada must demonstrate a stronger and more consistent commitment to Asia that goes well beyond the economic-commercial dimension. It must include a robust defence and security dimension. Canada has, for now, chosen to emphasize a mercantile foreign policy. Such an approach, however, must not ignore the need for a strong defence policy anchored within a vigorous foreign policy that is able to meet the challenges of the twenty-first century. This applies to Canada’s approach to the Asia-Pacific region as much as to the rest of the world. Neither a “Global Markets Action Plan” nor a separate “Canada First Defence Strategy”, both formulated in a policy vacuum, is sufficient. There is a serious need for a Foreign Policy and complementary Defence Policy review, one where the Asia-Pacific region will be prominent.
Topic:: International Relations, Security, Economics, Military Affairs, and Trade
Political Geography:: Canada, Asia, and North America

332. Europe Meets Asia: The Transnational Construction of Access and Voice from Below

Author:: Sabrina Zajak
Publication Date:: 02-2014
Content Type:: Working Paper
Institution:: Max Planck Institute for the Study of Societies
Abstract:: This paper contributes to the debate on the role of democratic participation in complex systems of governance. It takes a process-oriented constructivist approach asking how transnational activism over time contributes to the construction of access and voice from below and uses the Asia-Europe Meetings (ASEM) to analyze how interactions between civil society and global governance institutions shape concrete forms of participation. The paper shows that transnational activism triggers both discursive and institutional changes within the official ASEM process leading to an informal, fragmented, and fragile institutionalization of civil society participation. However, the paper reveals a division between civil society organizations with some, such as business representatives, having preferential access and voice in comparison to more contentious organizations. The paper explains this fragmented form of democratization as the result of three interrelated processes: the particular history and economic origins of the ASEM; international developments particularly in the ongoing economic crisis; and domestic developments within individual countries (in particular China) which have begun to favor controlled access for civil society participation.
Topic:: Civil Society, Democratization, Economics, History, Governance, and Developments
Political Geography:: Europe and Asia

333. Malaysia’s Past Successes and Uncertain Future: Graduating from the Middle or Caught in the Middle?

Author:: Hooi Hooi Lean and Russell Smyth
Publication Date:: 01-2014
Content Type:: Working Paper
Institution:: Centre for Non-Traditional Security Studies, S. Rajaratnam School of International Studies
Abstract:: In the space of just over five decades, Malaysia has transformed from a largely agrarian economy to a manufacturing economy with a sustained high rate of economic growth. While Malaysia‟s achievement in terms of raising the per capita income of its citizens is pretty much universally acclaimed, recent concerns have been expressed that Malaysia is now in a middle-income trap. Moreover, there are a growing number of commentators who are arguing that Malaysia‟s New Economic Policy (NEP) needs an overhaul if Malaysia is to progress to become a high-income country. This paper provides an overview of the evolution of the Malaysian economy and critically evaluates recent strategic reform initiatives, encapsulated in the New Economic Model (NEM) and Economic Transformation Programme (ETP) that are designed to assist Malaysia in its aim to become an innovation-intensive, high-income country by 2020.
Topic:: Economics, Reform, and Industrialization
Political Geography:: Malaysia and Asia

334. The Urban Regeneration Experience of The United Kingdom: Lessons for Turkey

Author:: Fatih Eren
Publication Date:: 09-2014
Content Type:: Working Paper
Institution:: Centre for Strategic Research and Analysis (CESRAN)
Abstract:: The United Kingdom (UK) is the most experienced country regarding the theories, policies, strategies and practices of urban regenerations in the world. This study firstly outlines UK’s urban regeneration experience and then discusses how Turkey can benefit from this experience in the best way. The global financial crisis emerged in 2008 forced the UK to go a change in its national urban regeneration policy. Therefore, this paper has been divided into two parts as UK’s urban regeneration policy before and after 2010.
Topic:: Economics, International Cooperation, Financial Crisis, and Urban
Political Geography:: United Kingdom, Europe, Turkey, and Asia

335. Recalcitrance and initiative: US hegemony and regional powers in Asia and Europe after World War II

Author:: Arthur A. Stein
Publication Date:: 01-2014
Content Type:: Journal Article
Journal:: International Relations of the Asia-Pacific
Institution:: Japan Association of International Relations
Abstract:: This paper challenges the conventional wisdom that US power and preferences following World War II led to bilateralism in Asia and multilateralism in Western Europe. It argues that the challenges facing the United States in both regions were similar, as were US policies meant to address them. With some lag, the United States supported the economic recovery of the regional powers it had defeated (Germany and Japan), saw the restoration of regional trade as a prerequisite, sought military bases to assure postwar security, and envisioned rearming its former foes as part of its security strategy. The outcomes in the two regions reï¬‚ected the preferences and reservations of regional actors. The critical differences between the regions were structural. The existence of middle powers was critical in Europe, the return of colonial powers to Asia precluded regional arrangements in the short term, and geostrategic differences shaped the requisites for regional security.
Topic:: Economics and War
Political Geography:: United States, Europe, and Asia

336. Japan's New Security Policy: Breaking Away from the Post–War Regime?

Author:: Bart Gaens
Publication Date:: 02-2014
Content Type:: Policy Brief
Institution:: Finnish Institute of International Affairs
Abstract:: China is challenging the regional balance of power in East Asia through a military buildup and an increasingly assertive foreign policy. The US is forced to find the right balance between cooperating with China while benefiting from its economic rise, and countering China's regional reach by carrying out its self-declared "pivot" to Asia in spite of domestic and budgetary constraints. With just over one year in office, Japan's Prime Minister Shinzo Abe has received wide domestic support for his ambitious plans to revive Japan's economy through his threefold policy of Abenomics. At the same time, however, he has implemented a number of significant policies in the defence and security sphere. In response to China's military rise, the Abe administration increased and recalibrated the defence budget. Furthermore, in order to reinforce the alliance with the US, the government approved the creation of a US-style National Security Council, passed a Secrecy Bill, and aims to reverse Japan's self-imposed ban on exercising the right to collective self-defence. Under the banner of "proactive pacifism", the Abe cabinet is seizing the momentum caused by the changing regional power dynamics in order to edge closer towards "breaking away from the postwar regime". A proposed revision of Japan's constitution, unchanged since 1947, symbolizes the ruling Liberal Democratic Party's (LDP) objective to bring about a more autonomous role for Japan both in the security alliance with the US and as an international actor.
Topic:: Security, Foreign Policy, Defense Policy, Arms Control and Proliferation, Economics, and International Trade and Finance
Political Geography:: Japan, China, and Asia

337. EU-Russia: overcoming stagnation

Author:: Nicu Popescu
Publication Date:: 01-2014
Content Type:: Policy Brief
Institution:: European Union Institute for Security Studies
Abstract:: For the best part of the last two decades, EU-Russia summits have alternated between being upbeat events where new grand integration initiatives were launched – the creation of four common spaces in 2005, the partnership for modernisation in 2010 – and rather unfriendly encounters where success was seemingly measured on how impolite the partners could be to one another.
Topic:: Economics, Energy Policy, International Trade and Finance, and Bilateral Relations
Political Geography:: Russia, Europe, and Asia

338. ASEAN Centrality and the ASEAN-US Economic Relationship

Author:: Peter A. Petri and Michael G. Plummer
Publication Date:: 03-2014
Content Type:: Policy Brief
Institution:: East-West Center
Abstract:: ASEAN has become a focal point of the rapidly changing economic architecture of the Asia-Pacific region. ASEAN members are increasingly stable and politically confident, and constitute an emerging economic powerhouse. The region is dynamic, with 600 million citizens and a gross domestic product (GDP) that exceeds $2 trillion and is expected to grow 6 percent annually for the next two decades. (The Appendix at the end of this paper reports detailed output and trade projections to 2025.) Through deeper internal integration via the ASEAN Economic Community (AEC) and external initiatives such as the Regional Comprehensive Economic Partnership (RCEP), ASEAN is becoming a driving force in regional cooperation and a much-courted economic partner. The AEC and the RCEP projects are globally significant: the AEC could generate powerful demonstration effects for other developing regions, and the RCEP could become an important building bloc of the multilateral trading system.
Topic:: Security, Economics, International Trade and Finance, and Markets
Political Geography:: United States, East Asia, Asia, and Asia-Pacific

339. Flexible Implementation: A Key to Asia's Transformation

Author:: Luke Simon Jordan and Katerina Koinis
Publication Date:: 04-2014
Content Type:: Policy Brief
Institution:: East-West Center
Abstract:: Despite the region's economic growth over the last few decades, countries across Asia still face the complex challenge of structural transformation. Low-income economies must build formal industrial and service sectors from agricultural and informal bases; middle-income economies must move up the value chain; and high-income economies must continually generate new capabilities at the frontier of innovation.
Topic:: Development, Economics, Industrial Policy, and International Trade and Finance
Political Geography:: Asia

340. Turkey's Energy Strategy and its Role in the EU's Southern Gas Corridor

Author:: Erkan Erdogdu
Publication Date:: 02-2014
Content Type:: Working Paper
Institution:: Istituto Affari Internazionali
Abstract:: The Southern Gas Corridor (SGC) is a European Commission initiative aimed at facilitating the diversification of the routes and sources of gas imported into Europe. This paper is devoted to the analysis of Turkey's role in this initiative. Following a summary of the current economic and energy situation in Turkey, the paper presents recent developments in the SGC and an analysis of Turkey's role in the EU's SGC vision. It concludes that although the newly-built infrastructure within the SGC framework will probably serve Azerbaijani and Turkish interests first in their future relations with the EU, rather than the other way round, as had been initially hoped by the EU, it still addresses the EU's basic strategic interests, namely, the diversification of gas supply routes and suppliers.
Topic:: Economics, International Trade and Finance, and Natural Resources
Political Geography:: Russia, United Kingdom, Europe, Turkey, Asia, and Netherlands

341. The Indian Ocean Region: A Strategic Net Assessment

Author:: Anthony H. Cordesman and Abdullah Toukan
Publication Date:: 04-2014
Content Type:: Working Paper
Institution:: Center for Strategic and International Studies
Abstract:: This study examines the key strategic risks that shape the stability and security of the Indian Ocean Region or IOR. This means examining risks that cut across a vast span of territory that directly affects both the global economy and some 32 nations–some within the limits of the Indian Ocean, but others that play a critical role in shaping the security of the nations in the IOR region and the security of its sea lanes and petroleum exports.
Topic:: Development, Economics, and Governance
Political Geography:: India and Asia

342. Fueling a New Order? The New Geopolitical and Security Consequences of Energy

Author:: Bruce Jones, David Steven, and Emily O'Brien
Publication Date:: 04-2014
Content Type:: Working Paper
Institution:: Center on International Cooperation
Abstract:: On December 16, 2013, Prince Turki bin Faisal Al Saud, Saudi Arabia's powerful former intelligence chief, gave an interview to the Wall Street Journal. He was speaking out after a turbulent four months in Middle East and Persian Gulf diplomacy, diplomacy that culminated in an interim nuclear deal between Iran and the major powers. Prince Turki, long a close friend to the United States, used the interview to blast American policy. He was critical of U.S. strategy in the region as a whole, but particularly vehement about leaving Saudi Arabia out of the loop as the United States engaged in secret bilateral diplomacy with Iran. "How can you build trust when you keep secrets from what are supposed to be your closest allies?" he fumed.
Topic:: International Relations, Security, Economics, Energy Policy, International Trade and Finance, and Oil
Political Geography:: United States, Middle East, and Asia

343. Northeast Asia's Turbulent Triangle: Korea-China-Japan Relations

Author:: Malcolm Cook
Publication Date:: 01-2014
Content Type:: Working Paper
Institution:: Lowy Institute for International Policy
Abstract:: Northeast Asia is one of the most important crucibles of global economic and strategic change, and it is far from a stable one. The modern histories of China, Japan and South Korea were forged by Japan's colonisation of China and Korea and the Korean War that divided the peninsula and saw China on the side of North Korea and Japan on the side of South Korea. This recent history has left the bilateral relations on each side of this turbulent triangle strained by a lack of trust, popular antipathy and unresolved territorial disputes. As noted in the project's Beijing workshop, the stalled trilateral free trade agreement negotiations between the three Northeast Asian neighbours, launched with great hope in 1997, have been the victim of this turbulence and strain.
Topic:: International Relations, Economics, Human Rights, Bilateral Relations, and Territorial Disputes
Political Geography:: Japan, China, Asia, and North America

344. Islam and instability in China's Xinjiang

Author:: Nick Holdstock
Publication Date:: 04-2014
Content Type:: Working Paper
Institution:: Norwegian Centre for Conflict Resolution
Abstract:: On March 1st 2014 a knife-wielding group of ten people attacked passengers and passers-by in the railway station in Kunming, capital of China's south-western Yunnan province. Twenty-eight were killed and 113 injured. By the following day the government was describing the incident as a "separatist" attack perpetrated by "terrorists from Xinjiang". The attack in Kunming is the latest in a series of violent incidents in China that the government attributes to radical Islamist organisations that aim to promote what it calls the "Three Evils" of "terrorism, separatism and religious extremism". These acts have predominantly occurred in China's far western Xinjiang region, most recently in January and February 2014. Incidents in other parts of China have been attributed to the same forces.
Topic:: Political Violence, Communism, Economics, Human Rights, and Islam
Political Geography:: China and Asia

345. Seeking security in Africa: China's evolving approach to the African Peace and Security Architecture

Author:: Chris Alden
Publication Date:: 03-2014
Content Type:: Working Paper
Institution:: Norwegian Centre for Conflict Resolution
Abstract:: China is on course to becoming more deeply involved in Africa's security landscape. While the motivation behind Chinese involvement remains primarily economic, the growing exposure of its interests to the vagaries of African politics, as well as pressures to demonstrate greater global activism, are bringing about a reconsideration of Beijing's approach to the continent. China faces threats on three fronts to its standing in Africa: reputational risks derived from its assocation with certain governments; risks to its business interests posed by mecurial leaders and weak regulatory regimes; and risks faced by its citizens operating in unstable African environments. Addressing these concerns poses challenges for Beijing, whose desire to play a larger role in security often clashes with the complexities of doing so while preserving Chinese foreign policy principles and economic interests on the continent.
Topic:: Economics, Human Rights, International Trade and Finance, and Bilateral Relations
Political Geography:: Africa, China, and Asia

346. Rising powers in Africa: what does this mean for the African peace and security agenda?

Author:: Elling N. Tjønneland
Publication Date:: 03-2014
Content Type:: Working Paper
Institution:: Norwegian Centre for Conflict Resolution
Abstract:: Much has been written about the role of the rising or emerging powers and their accelerating economic engagement in Africa. Much less is known about how they contribute to or impact on the African peace and security agenda. This report takes a comparative look at the roles of China, India, Brazil and South African in relation to the African Union and its African Peace and Security Architecture. Each of these four countries has a distinct commercial and corporate approach to Africa, despite a shared political commitment to South-South cooperation. However, as they extend their economic engagement they are becoming more sensitive to insecurity and volatility. The Asian and Latin American countries, which traditionally have strongly emphasised non-intervention, are gradually becoming more involved in the African security agenda. They are increasingly concerned about their image and reputation and the security of their citizens and business interests, and are becoming more prepared to act multilaterally and to work with others in facilitating security and stability. As an African power, South Africa plays a more direct role and has emerged as a major architect of the continent's evolving peace and security architecture. This report summarises elements from a broader research project on rising powers and the African peace and security agenda undertaken by CMI in cooperation with NOREF.
Topic:: Economics, Human Rights, International Cooperation, Regional Cooperation, and International Security
Political Geography:: Africa, India, Asia, South Africa, Brazil, and Latin America

347. China's Long March Toward Economic Rebalancing

Author:: Hongying Wang
Publication Date:: 04-2014
Content Type:: Policy Brief
Institution:: Centre for International Governance Innovation
Abstract:: China's role in the global imbalance is closely linked to its domestic imbalance. Chinese policy makers have long been aware of the dual imbalance and the imperative to shift to economic growth driven by domestic consumption. They have taken limited steps in changing the development model, but political obstacles have slowed the pace of reform. The new leadership seems serious about deepening economic reform despite political resistance, but without political reform, the prospect of success remains dim.
Topic:: Economics, International Trade and Finance, Monetary Policy, and Governance
Political Geography:: China and Asia

348. The Eurasian Customs Union: the economics and the politics

Author:: Nicu Popescu and Iana Dreyer
Publication Date:: 03-2014
Content Type:: Policy Brief
Institution:: European Union Institute for Security Studies
Abstract:: Long ignored by the West, the Eurasian Customs Union (consisting of Russia, Belarus and Kazakhstan) has recently been brought into the international limelight. The project – an attempt by the Kremlin to create a rival to the European Union and its Eastern Partnership project – attracted attention when Moscow, with its characteristic bluntness, began to pressure Armenia, Georgia, Moldova and Ukraine to join the grouping and drop their plans to sign Association Agreements with the EU. Although Russia has not succeeded in convincing all these states to join, it managed to do so with Armenia in September 2013, and the political tussle over the issue with Ukraine played a central role in triggering the country's current crisis.
Topic:: Economics, International Political Economy, International Trade and Finance, and Power Politics
Political Geography:: Europe, Eurasia, and Asia

349. China's energy demands: are they reshaping the world?

Author:: Gerald Stang
Publication Date:: 03-2014
Content Type:: Policy Brief
Institution:: European Union Institute for Security Studies
Abstract:: In 2012, China was the world's seventh biggest producer of natural gas, the fourth largest oil producer, and the biggest producer of hydroelectricity. It also produced almost as much coal as the rest of the world combined. Still, this is not enough. China's domestic energy bounty has long allowed the country to keep its overall import dependency relatively low but, as the country's economy continues to boom, its import dependency is growing quickly, particularly with regard to oil.
Topic:: Economics, Energy Policy, International Cooperation, International Trade and Finance, Markets, and Natural Resources
Political Geography:: China and Asia

350. America's Mega-Regional Trade Diplomacy: Comparing TTP and TTIP

Author:: Daniel S. Hamilton
Publication Date:: 03-2014
Content Type:: Journal Article
Journal:: The International Spectator
Institution:: Istituto Affari Internazionali
Abstract:: The United States is currently negotiating two massive regional economic agreements, one with 11 Asian and Pacific Rim countries and the other with the 28-member European Union. The Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP) herald a substantial shift in US foreign economic policy as Washington turns its focus from the stalemated Doha Round of multilateral trade negotiations and scattered bilateral trade agreements to 'mega-regional' trade diplomacy. As the only party to both negotiations, Washington seeks to leverage issues in one to advance its interests in the other, while reinvigorating US global leadership.
Topic:: Diplomacy and Economics
Political Geography:: United States, Europe, Washington, and Asia

351. The Revival of the Silk Roads (Land Connectivity) in Asia

Author:: Wai-Mun Chia and Pradumna B. Rana
Publication Date:: 05-2014
Content Type:: Working Paper
Institution:: Centre for Non-Traditional Security Studies, S. Rajaratnam School of International Studies
Abstract:: This paper argues that contrary to popular belief, in the bygone era, there was not one but two Silk Roads in Asia - the Northern and the less well-known South-western Silk Road (SSR). The SSR connected South/Central Asia with southern China and present day Association of Southeast Asian Nations (ASEAN). After enjoying a rich history of around 1,600 years, the Silk Roads went into disrepair. Now, for various economic, security, and political reasons, land connectivity is once again making a comeback in Asia. These include the (i) "Go West" and the recent "New Silk Roads" policies of China; (ii) "Look East" policies of South Asia; (iii) opening of Myanmar, a node between South Asia and East Asia; and (iv) growing importance of supply-chain trade. The focus has, however, been mainly on reviving the Northern Silk Road with relatively few actions being initiated to revive the SSR. Mirroring the on-going efforts in the Greater Mekong Sub-region and the Central Asian region, this paper proposes four economic corridors for Pan-Asian connectivity that is to connect South/Central Asia with southern China and ASEAN. The paper argues that the revival of land connectivity in Asia is making Maritime Asia of the past, more continental-based. One implication is that regional institutions focusing solely on Maritime Asia, such as the Asia Pacific Economic Cooperation (APEC), may be losing some of their relevance vis-à-vis say the more continental-based China-led Shanghai Cooperation Organization. The other is that the influence of the West in Asia's security may be declining relative to that of China, India, and Russia.
Topic:: Economics, International Trade and Finance, and Regional Cooperation
Political Geography:: South Asia, Central Asia, and Asia

352. See No Evil: South Korean Labor Practices in North Korea

Author:: Marcus Noland
Publication Date:: 04-2014
Content Type:: Policy Brief
Institution:: East-West Center
Abstract:: Economic engagement between South and North Korea is often justified as a means of encouraging economic and social evolution in North Korea, with the ultimate goal of national unification. The South has invested heavily in the North, and firms have employed more than 50,000 workers. Yet expectations of a transformational impact rest on unexamined assumptions. The North recognizes the Trojan horse nature of the engagement policy: results of an original survey of South Korean employers show that the North Korean government has largely circumscribed the exposure of its citizens to both South Koreans and market-oriented economic practices, in the process violating labor rights defined by covenants to which both countries belong. The problem seems intractable, given that South Korea's diplomatic commitment to engagement with North Korea trumps labor rights concerns and South Korean firms perceive that the North Korean status quo confers benefits. As the experience of labor rights movements elsewhere shows, conditions will likely improve only if an aroused citizenry—here, the South Koreans—demands change.
Topic:: Diplomacy, Economics, Human Rights, Bilateral Relations, and Reform
Political Geography:: Asia, South Korea, and North Korea

353. China needs to complement its "going-out" policy with a "going-in" strategy

Author:: Karl P. Sauvant and Victor Z. Chen
Publication Date:: 05-2014
Content Type:: Policy Brief
Institution:: Columbia Center on Sustainable Investment
Abstract:: China's rising outward foreign direct investment (OFDI) faces rising skepticism abroad. This is partly the result of the leading role of state-owned enterprises in her OFDI (and the fear that it serves non-commercial purposes), the speed with which this investment has grown, the negative image of the home country in some quarters, and the challenges it poses to established competitors. Moreover, Chinese multinational enterprises (MNEs) may not always keep in mind that host countries see FDI as a tool to advance their own development and hence seek maximum benefits from it.
Topic:: Economics, International Trade and Finance, and Foreign Direct Investment
Political Geography:: China and Asia

354. Development: Advancement through International Organizations

Author:: Rohinton Medhora and David Malone
Publication Date:: 05-2014
Content Type:: Working Paper
Institution:: Centre for International Governance Innovation
Abstract:: The familiar world of international organizations principally devoted to development has been upended by two phenomena. First is the emergence of sustained economic success in the developing world (mostly in Asia, but increasingly also in Africa and, in a less spectacular way, Latin America) amid compelling, continuing need among the world's poor. Second, the slow-moving, serious financial and economic crisis of the industrialized world since 2008 has reordered priorities in many of their capitals toward domestic spending and away from costly international projects.
Topic:: Development, Economics, International Cooperation, International Organization, and Financial Crisis
Political Geography:: Africa, Asia, United Nations, and Latin America

355. High Tech: The Next Wave of Chinese Investment in America

Author:: Daniel H. Rosen and Thilo Hanemann
Publication Date:: 04-2014
Content Type:: Working Paper
Institution:: Asia Society
Abstract:: WHILE CHINA STARTED INVESTING AROUND THE WORLD in the early 2000s, the first waves of Chinese overseas investment targeted mostly extractive mining activities in developing countries and resource-rich advanced economies such as Australia and Canada. Over the past five years, however, Chinese capital has begun to flow into non-extractive sectors in advanced economies, increasingly targeting technology- and innovation-intensive industries. Initially, the surge of Chinese outward foreign direct investment (OFDI) in the United States largely responded to opportunities in energy and real estate, but access to technology and innovation is now becoming an important driver. In the first quarter of 2014 alone, Chinese investors announced high-tech deals worth more than $6 billion, including the takeovers of Motorola Mobility, IBM's x86 server unit, and electric carmaker Fisker.
Topic:: Economics, International Trade and Finance, and Foreign Direct Investment
Political Geography:: China, America, Canada, Asia, and Australia

356. Western Pessimism, Asian Optimism: Three Perspectives on Global Governance

Author:: Sir Richard Jolly
Publication Date:: 09-2014
Content Type:: Journal Article
Abstract:: As of 2007 the world economy has been caught in the worst crisis since the 1930s. Yet after two years of only partly successful efforts to mobilize and coordinate global action of financial control and stimulus, ending with the G-20 meeting of March 2009, responsibility for corrective economic initiatives has essentially been left to individual countries, supported by the International Monetary Fund (IMF) and the European Union (EU). Moreover, such support has been usually conditional on countries following financial policies of tough austerity. The United States took some actions to stimulate its economy, but by many accounts these were insufficient. Most of Europe has not even attempted stimulus measures and has been in a period of economic stagnation, with falling real incomes among the poorest parts of the population. Although some signs of “recovery” have been heralded in 2013 and 2014, growth has mostly been measured from a lower base. There is little evidence of broad-based economic recovery, let alone improvements in the situation of the poor or even of the middle-income groups.
Topic:: Economics and Governance
Political Geography:: United States, Europe, and Asia

357. South Korea and China: A Strategic Partnership in the Making

Author:: Alain Guidetti
Publication Date:: 04-2014
Content Type:: Policy Brief
Institution:: The Geneva Centre for Security Policy
Abstract:: The visit of Chinese President Xi Jinping to Seoul in July 2014 shows how the relations between China and South Korea have taken center stage in North- East Asia. Both countries are building up a growing strategic partnership, as a result of emerging cross-interests in the region and robust trade relations. This dynamic underlines the dilemma Seoul faces in maintaining a strong military alliance with the United States, while turning increasingly toward China as its core partner for both its economic development and its North Korea policy.
Topic:: International Relations and Economics
Political Geography:: United States, China, Asia, South Korea, North Korea, and Northeast Asia

358. Regional Trade Agreements in East Asia

Author:: Innwon Park
Publication Date:: 03-2014
Content Type:: Working Paper
Institution:: Norwegian Institute of International Affairs
Abstract:: Both intra - and inter-regional trade agreements are proliferating in East Asia. Deepening regional interdependence through trade and investment, and the necessity for stability and revitalization of the regional economy since the East Asian financial crisis in the late 1990s led the East Asian countries to adopt discriminatory RTAs. Accordingly, East Asian commercial policy stance has shifted from unilateral to bilateral to mega-lateral liberalization. This report attempts to assess the East Asian countries' efforts to liberalize the regional market by cooperating with each other. We investigate (i) why RTAs have been proliferating in East Asia, (ii) what the main characteristics of East Asian RTAs are, (iii) whether the East Asian countries are natural trading partners for each other to enhance welfare gains from RTAs, and (iv) whither East Asian RTAs. From our analysis, we recommend following policy options. First, East Asian RTAs should follow an expansionary RTA path (for example, AFTA and five ASEAN+1 FTAs → RCEP and/or TPP → FTAAP). Second, as we consider the high dependence on external economies through global trade and investment, East Asia needs to cooperate with major external trading partners by forming cross-regional RTAs with the EU and US. Third, in order to enable East Asian economies to take the more desirable expansionary RTA path, harmonizing or simplifying ROO, the cumulation of value contents among the RTA members in East Asia, and enhancing trade facilitation should be a prerequisite considering the complicated web of RTAs, regional production networks, and the consolidation of the FTAAP.
Topic:: Economics, International Trade and Finance, and Regional Cooperation
Political Geography:: East Asia and Asia

359. Women's Economic Leadership in Asia: A review of WEL programming

Author:: Bowman Kimberly
Publication Date:: 09-2014
Content Type:: Working Paper
Institution:: Oxfam Publishing
Abstract:: This report summarizes an internal review of Women‟s Economic Leadership (WEL) programming in Asia. Conducted by an internal MEL advisor in 2013–2014, the review draws upon project documentation, evaluation reports, site visits and staff and partner interviews to try and reflect how WEL programming is being implemented by Oxfam and partners in Asia. Part of a formative evaluation activity, the report aims to help gather and consolidate good practice, based on what Oxfam project teams and partners have learned through recent experience and evaluation. There are at least four distinct topics covered in this report that may be of specific interest to readers.
Topic:: Economics, Gender Issues, and Sociology
Political Geography:: Asia

360. Democratization and Instability in Ukraine, Georgia, and Belarus

Author:: Robert Nalbandov
Publication Date:: 06-2014
Content Type:: Working Paper
Institution:: The Strategic Studies Institute of the U.S. Army War College
Abstract:: This monograph analyzes the interconnections between the democratic institutionalization of the newly independent states of Ukraine, Georgia, and Belarus, their political (in)stability, and economic development and prosperity. By introducing the concept of regime mimicry into the field of public administration, this monograph extends the epistemological frameworks of the democratization school to the phenomenon of political culture. Successes and failures of the democratic institutionalization processes in these countries largely depend on the ways their institutional actors reacted to internal and external disturbances of their domestic political, econmic, and cultural environments. While Georgia's political culture revealed the highest degree of flexibility in accepting the externally-proposed institutional frameworks and practices, the bifurcate political culture in Ukraine impeded its democratic institutionalization, while the rigid political culture in Belarus completely stalled the process of institutional transformations.
Topic:: Democratization, Development, and Economics
Political Geography:: Ukraine, Asia, Georgia, and Belarus

361. Should Korea Join the Trans-Pacific Partnership?

Author:: Jeffrey J. Schott and Cathleen Cimino
Publication Date:: 09-2014
Content Type:: Policy Brief
Institution:: Peterson Institute for International Economics
Abstract:: The negotiation of the Trans-Pacific Partnership (TPP), a megaregional agreement to lower barriers to trade and investment and promote economic integration in the Asia-Pacific region, has been a dynamic process with a number of countries joining the talks in midstream. Since negotiations began in March 2010, participation in the TPP talks has expanded several times to include Malaysia (October 2010), Vietnam (December 2010), Canada and Mexico (October 2012), and Japan (July 2013). In November 2013, Korea announced its interest in participating in the TPP and began consulting with the countries involved. The TPP now has 12 participants. Korea is still considering whether to become lucky 13.
Topic:: Economics, International Trade and Finance, and Bilateral Relations
Political Geography:: Malaysia, Canada, Asia, Vietnam, Korea, and Mexico

362. The Asia-Pacific Cooperation Agenda: Moving from Regional Cooperation Toward Global Leadership,

Author:: Charles E. Morrison
Publication Date:: 10-2014
Content Type:: Policy Brief
Institution:: East-West Center
Abstract:: In the past quarter-century Asia has seen vast changes, including increased economic growth, integration, and liberalization. The Asia Pacific Economic Cooperation (APEC) process, now marking its 25th anniversary, facilitated these changes through its institution of the first regular meetings of ministers and then leaders. But what role should APEC play in the future? With a continuing diffusion of power, what was once hailed as an imminent "Asian century" is much more likely to be a global one. This international system, however, will have a trans-Pacific core with much of the economic power and potential to provide global leadership for the further development of international norms, rules, and cooperation. Thus, we may be able to refer to an "Asia-Pacific century." Two questions arise: Is North America, with a relatively small share of global population and a declining share of global world product, still relevant? Will the nations on the two sides of the Pacific really be able to use their power effectively to assume global leadership? The answer to the first of these is "yes," and to the second, "it depends."
Topic:: Economics, International Cooperation, International Political Economy, and International Trade and Finance
Political Geography:: Asia

363. From Catching Up to Forging Ahead? China's Prospects in Semiconductors

Author:: Dieter Ernst
Publication Date:: 10-2014
Content Type:: Working Paper
Institution:: East-West Center
Abstract:: China's new strategy to upgrade its semiconductor industry (outlined in the "Guidelines to Promote National Integrated Circuit Industry Development," June 24, 2014), seeks to move from catching-up to forging ahead in semiconductors, by strengthening simultaneously China's integrated circuit (IC) design industry and domestic IC foundry services.
Topic:: Economics, Globalization, Industrial Policy, Markets, and Science and Technology
Political Geography:: China and Asia

364. Understanding Differences in Growth Performance in Latin America and Developing Countries between the Asian and Global Financial Crises

Author:: Roberto Alvarez and José De Gregorio
Publication Date:: 11-2014
Content Type:: Working Paper
Institution:: Peterson Institute for International Economics
Abstract:: Latin American performance during the global fi nancial crisis was unprecedented. Many developing and emerging countries successfully weathered the worst crisis since the Great Depression. Was it good luck? Was it good policies? In this paper we compare growth during the Asian and global fi nancial crises and fi nd that a looser monetary policy played an important role in mitigating crisis. We also fi nd that higher private credit, more fi nancial openness, less trade openness, and greater exchange rate intervention worsened economic performance. Our analysis of Latin American countries confi rms that eff ective macroeconomic management was key to good economic performance. Finally, we present evidence from a sample of 31 emerging markets that high terms of trade had a positive impact on resilience.
Topic:: Economics, Global Recession, Monetary Policy, and Financial Crisis
Political Geography:: Asia and Latin America

365. Let Bygones Be Bygones: The Case for India's Inclusion in APEC

Author:: Kevin Carmichael
Publication Date:: 11-2014
Content Type:: Policy Brief
Institution:: Centre for International Governance Innovation
Abstract:: Canadian Prime Minister Stephen Harper will miss the 2014 Beijing APEC summit. His former spokesman says it does not matter. "[I]t's safe to say that Canada won't lose out by skipping this particular summit, at this particular time, for this particular reason," Andrew McDougall (2014) wrote in an opinion article posted on the Canadian Broadcasting Corporation's (CBC's) website on November. In early October, a US State Department official told an audience in Washington, DC that Beijing was shaping up to be a "good" summit, in part because US President Barack Obama was planning to attend after missing the previous two APEC leaders' meetings (Wang 2014).
Topic:: Economics and Regional Cooperation
Political Geography:: United States, India, and Asia

366. The Civil Transition in Afghanistan: The Metrics of Crisis?

Author:: Anthony H. Cordesman
Publication Date:: 12-2014
Content Type:: Working Paper
Institution:: Center for Strategic and International Studies
Abstract:: Creating an effective transition for the ANSF is only one of the major challenges that Afghanistan, the US, and Afghanistan's other allies face during 2014-2015 and beyond. The five other key challenges include: Going from an uncertain election to effective leadership and political cohesion and unity. Creating an effective and popular structure governance, with suitable reforms, from the local to central government, reducing corruption to acceptable levels, and making suitable progress in planning, budgeting, and budget execution. Coping with the coming major cuts in outside aid and military spending in Afghanistan, adapting to a largely self-financed economy, developing renewal world economic development plans, carrying out the reforms pledged at the Tokyo Conference, and reducing the many barriers to doing business. Establishing relations with Pakistan and other neighbors that will limit outside pressures and threats, and insurgent sanctuaries on Afghanistan's border. Persuading the US, other donors, NGCO, and nations will to provide advisors to furnish the needed aid effort through at least 2018, and probably well beyond.
Topic:: Corruption, Economics, Governance, and Reform
Political Geography:: Afghanistan and Asia

367. Is the European Model Relevant for ASEAN?

Author:: Eleonora Poli
Publication Date:: 11-2014
Content Type:: Working Paper
Institution:: Istituto Affari Internazionali
Abstract:: Before the 1997 economic crisis in Asia, the institutional evolution of the Association of Southeast Asian Nations (ASEAN) was very different from the European model. The economic downturn in the late 1990s and the global shift toward a neo-liberal economic era urged ASEAN countries to rethink their regional integration strategy and to mimic some of the institutional models in Europe. In light of this, this paper analyses the rationale behind the evolution of ASEAN since the late 1990, evaluating how and why the organization on a surface replicated aspects of the EU model without engaging in meaningful supranational institutionalization.
Topic:: Economics, Regional Cooperation, and Governance
Political Geography:: Europe and Asia

368. Value Subtraction in Public Sector Production: Accounting Versus Economic Cost of Primary Schooling in India

Author:: Lant Pritchett and Yamini Aiyar
Publication Date:: 12-2014
Content Type:: Working Paper
Institution:: Center for Global Development
Abstract:: We combine newly created data on per student government expenditure on children in government elementary schools across India, data on per student expenditure by households on students attending private elementary schools, and the ASER measure of learning achievement of students in rural areas. The combination of these three sources allows us to compare both the “accounting cost” difference of public and private schools and also the “economic cost”—what it would take public schools, at their existing efficacy in producing learning, to achieve the learning results of the private sector. We estimate that the “accounting cost” per student in a government school in the median state in 2011/12 was Rs. 14,615 while the median child in private school cost Rs. 5,961. Hence in the typical Indian state, educating a student in government school costs more than twice as much than in private school, a gap of Rs. 7,906. Just these accounting cost gaps aggregated state by state suggests an annual excess of public over private cost of children enrolled in government schools of Rs. 50,000 crores (one crore=10 million) or .6 percent of GDP. But even that staggering estimate does not account for the observed learning differentials between public and private. We produce a measure of inefficiency that combines both the excess accounting cost and a money metric estimate of the cost of the inefficacy of lower learning achievement. This measure is the cost at which government schools would be predicted to reach the learning levels of the private sector. Combining the calculations of accounting cost differentials plus the cost of reaching the higher levels of learning observed in the private sector state by state (as both accounting cost differences and learning differences vary widely across states) implies that the excess cost of achieving the existing private learning levels at public sector costs is Rs. 232,000 crores (2.78% of GDP, or nearly US$50 billion). It might seem counterintuitive that the total loss to inefficiency is larger than the actual budget, but that is because the actual budget produces such low levels of learning at such high cost that when the loss from both higher expenditures and lower outputs are measured it exceeds expenditures.
Topic:: Economics, Education, Privatization, and Reform
Political Geography:: India and Asia

369. Sovereign Debt Restructuring: Old Debates, New Challenges

Author:: James A. Haley
Publication Date:: 05-2014
Content Type:: Working Paper
Institution:: Centre for International Governance Innovation
Abstract:: Ten years ago, in the wake of the Asian financial crisis and subsequent Argentine default, the international community debated how to best promote the timely, effective restructuring of sovereign debt. The debate then focused largely on the relative merits of a so-called statutory approach for sovereign restructurings, with features of domestic bankruptcy regimes, versus the voluntary use of contractual terms designed to facilitate restructurings. At the time, the statutory approach did not have the support necessary to move from proposal to policy and efforts to improve the framework of sovereign debt restructuring rested on the contractual approach.
Topic:: Economics, International Trade and Finance, and Financial Crisis
Political Geography:: Asia

370. "Don't poke the Russian bear": Turkish policy in the Ukrainian crisis

Author:: Balkan Devlen
Publication Date:: 06-2014
Content Type:: Policy Brief
Institution:: Norwegian Centre for Conflict Resolution
Abstract:: From the start of the Ukrainian crisis Turkey kept a low profile and adopted a strategy best described as "don't poke the Russian bear". Russia is a major Turkish trading partner and Turkey relies heavily on Russian natural gas for its energy needs, while Turkish prime minister Erdogan has also been dealing with serious domestic challenges in the last year. Therefore, due to both external and internal factors, Turkey will avoid confronting Russia directly and will pass the buck to the U.S. and EU. In the short to medium term there are three plausible scenarios under which Turkey will change its current policy. They include the oppression of Crimean Tatars by the Russian authorities; military confrontation in the Black Sea between Russia and NATO; or a more unified, tougher stance against Russia by the West. In the long term Turkey most likely will revert to its traditional role of balancing Russia by strengthening its ties with the West, while reducing its energy dependence on Russia.
Topic:: Foreign Policy, Economics, and Governance
Political Geography:: Russia, United States, Europe, Turkey, Ukraine, and Asia

371. Going Beyond Economic Engagement: Why South Korea Should Press the North on Labor Standards and Practices

Author:: Marcus Noland
Publication Date:: 04-2014
Content Type:: Policy Brief
Institution:: Peterson Institute for International Economics
Abstract:: In recent years, despite a history of enmity and armed conflict that never really ended after the Korean War more than 60 years ago, South Korea has been a major investor in North Korea, and South Korean firms have employed more than 50,000 North Korean workers. South Korea's stated goal has been to encourage sufficient economic progress by North Korea, emboldening it toward establishing a meaningful basis for reconciliation and, ultimately, national unification. The expectation, or at least the hope, has been to use economic engagement to lessen the North's direct state control over the economy and to encourage the development of a middle class that might demand greater internal opening. The goal, as enunciated by former South Korean President Kim Dae-jung, has also been to foster a rise of interest groups with an enhanced stake in peaceable external relations.
Topic:: Economics, Human Rights, International Trade and Finance, and Bilateral Relations
Political Geography:: Asia, South Korea, and North Korea

372. Alternatives to Currency Manipulation: What Switzerland, Singapore, and Hong Kong Can Do

Author:: Joseph E. Gagnon
Publication Date:: 06-2014
Content Type:: Policy Brief
Institution:: Peterson Institute for International Economics
Abstract:: For the major advanced economies and the world as a whole, insufficient aggregate demand—that is, too little spending—impeded recovery from the Great Recession of 2008-09. By manipulating their currencies to boost their net exports, many countries made a bad situation worse for their trading partners, which saw demand shifted away. The world needs policies that increase total demand rather than policies that fight over the allocation of the existing amount of demand.
Topic:: Economics, International Trade and Finance, and International Monetary Fund
Political Geography:: Europe, Asia, Switzerland, and Singapore

373. Managing Myanmar's Resource Boom to Lock in Reforms

Author:: Marcus Noland and Cullen S. Hendrix
Publication Date:: 04-2014
Content Type:: Policy Brief
Institution:: Peterson Institute for International Economics
Abstract:: Myanmar is in the midst of a long and difficult multifaceted transition, involving political liberalization, economic reform, and the resolution of multiple long-standing civil conflicts. The country has a history of ethno-religious conflict and separatism. Civil-military relations are muddy, and business-military-state relations are similarly opaque. An ongoing natural resource boom, and the blessings and curses that come with it, further complicates these developments. Given the country's evident institutional weaknesses, external policy anchors could play a critical role in this transition. Hendrix and Noland address the possible role for such international precommitment mechanisms—in particular, the Extractive Industries Transparency Initiative (EITI)—in Myanmar's growing extractive sector.
Topic:: Economics, Ethnic Conflict, Governance, and Reform
Political Geography:: Asia and Myanmar

374. Balancing Without Containment: An American Strategy for Managing China

Author:: Ashley J. Tellis
Publication Date:: 01-2014
Content Type:: Working Paper
Institution:: Carnegie Endowment for International Peace
Abstract:: China is poised to become a major strategic rival to the United States. Whether or not Beijing intends to challenge Washington's primacy, its economic boom and growing national ambitions make competition inevitable. And as China rises, American power will diminish in relative terms, threatening the foundations of the U.S.-backed global order that has engendered unprecedented prosperity worldwide. To avoid this costly outcome, Washington needs a novel strategy to balance China without containing it.
Topic:: Foreign Policy, Economics, and Military Strategy
Political Geography:: United States, China, America, Washington, and Asia

375. Keeping the Peace in the Pacific: The Next Steps in American Policy

Author:: John Lee and Charles Horner
Publication Date:: 04-2014
Content Type:: Policy Brief
Institution:: Hudson Institute
Abstract:: U.S. administrations and officials are consistently caught flat-footed by the increasing assertiveness of the People's Republic of China (PRC) over disputed territories in the East China and South China Seas. This assertiveness is strident, yet controlled. Beijing's objectives in the region, with respect to maritime issues in particular, have been apparent for several decades. While the United States is well aware of the PRC's "talk and take" approach—speaking the language of negotiation while extending de facto control over disputed areas—U.S. policy has been tactical and responsive rather than strategic and preemptive, thus allowing China to control the pace and nature of escalation in executing talk and take.
Topic:: International Relations, Diplomacy, Economics, International Trade and Finance, and Bilateral Relations
Political Geography:: United States, China, and Asia

376. Japan and Turkey: The Contours and Current Status of an Economic Partnership/Free Trade Agreement

Author:: Scott Morrison
Publication Date:: 04-2014
Content Type:: Journal Article
Journal:: Insight Turkey
Institution:: SETA Foundation for Political, Economic and Social Research
Abstract:: As the third largest economy in the world, Japan cannot be overlooked in any analysis of Asia's importance in international geopolitics and the global political economy. The ties between Japan and Turkey – whether diplomatic, political, economic or societal – span the breadth of Asia. Those ties have become more numerous and consequential in monetary terms over the last half-decade. Although the relationship has not been a top priority for either country, awareness of the potential for mutual gain as a result of more trade and investment has a history of at least three decades. This article surveys the current economic and trade relationship between Turkey and Japan, paying particular attention to recent notable Japanese investments in Turkey and the preliminary positioning of trade representatives in advance of a proposed Free Trade/Economic Partnership Agreement.
Topic:: Economics and Political Economy
Political Geography:: Japan, Turkey, and Asia

377. Turkish-Iranian Rapprochement and the Future of European and Asian Energy

Author:: Pinar Dost-Niyego and Orhan Taner
Publication Date:: 04-2014
Content Type:: Policy Brief
Institution:: Atlantic Council
Abstract:: The recent events in Ukraine have revived the question of European dependence on Russian natural gas. The security of Europe's natural gas supply has been a consistently important issue in Russian-European Union (EU) relations. Russia provided 34 percent of EU gas in 2012, and Russian policies can have a direct impact on EU supplies. After the West-Russian confrontation over Ukraine, a lot has been said about the 'US shale gas revolution' and the possibilities of the United States becoming an energy exporter for future European energy needs. Although US energy independence seems to promise new perspectives for future European energy security, as well as for the balance of power in the Middle East, this is not for this decade. We cannot expect that the European Union would be able to cut off all of its energy relations with Russia, but we can foresee–or at least agree–that the European Union should diversify its natural gas supplies.
Topic:: Security, Foreign Policy, Economics, and Energy Policy
Political Geography:: Russia, United States, Europe, Ukraine, Middle East, and Asia

378. India and Pakistan: The Opportunity Cost of Conflict

Author:: Shuja Nawaz and Mohan Guruswamy
Publication Date:: 04-2014
Content Type:: Working Paper
Institution:: Atlantic Council
Abstract:: India and Pakistan, born out of a single British-ruled entity in 1947, have continued an implacable rivalry marked by periodic wars and hostilities as well as through proxies. This unending conflict has led them to invest heavily in their militaries and even to choose nuclear weaponry as a deterrence on the part of Pakistan toward India and on India's part toward both Pakistan and China. Although there have been occasional moves toward confidence building measures and most recently toward more open borders for trade, deep mistrust and suspicion mark this sibling rivalry. Their mutual fears have fuelled an arms race, even though increasingly civil society actors now appear to favor rapprochement and some sort of an entente. The question is whether these new trends will help diminish the military spending on both sides.
Topic:: Security, Foreign Policy, Economics, International Trade and Finance, and Reform
Political Geography:: Pakistan, China, India, Asia, and Southeast Asia

379. Trade policy issues in the Wider Europe – that led to war and not yet to peace

Author:: Michael Emerson
Publication Date:: 07-2014
Content Type:: Working Paper
Institution:: Centre for European Policy Studies (CEPS)
Abstract:: This paper looks at the trade policy landscape of the EU and the wider Europe, with a focus on issues arising from the signature on 27 June 2014 of Deep and Comprehensive Free Trade Agreements (DCFTAs) between the EU and three East European countries (Georgia, Moldova and Ukraine), and actual or prospective issues relating to the customs union of Belarus, Russia and Kazakhstan (BRK), and the Eurasian Economic Union whose founding treaty was signed on 29 May 2014.The huge expansion of intercontinental free trade area negotiations currently underway, in which the EU is an active participant alongside much of the Americas and Asia, stands in contrast with Russia's choice to restrict itself to the Eurasian Economic Union, which is only a marginal extension of its own economy. Alone among the major economies in the world, Russia does not seek to integrate economically with any major economic bloc, which should be a matter of serious concern for Moscow. Within the wider Europe, the EU's DCFTAs with Ukraine, Moldova and Georgia are a major new development, but Russia now threatens trade sanctions against Ukraine in particular, the economic case for which seems unfounded and whose unilateral application would also impair the customs union.The Belarus-Russia-Kazakhstan customs union itself poses several issues of compatibility with the rules of the WTO, which in turn are viewed by the EU as an impediment to discussing possible free trade scenarios with the customs union, although currently there are far more fundamental political impediments to any consideration of such ideas. Nonetheless, this paper looks at various long-term scenarios, if only as a reminder that there could be much better alternatives to the present context of conflict around Ukraine.
Topic:: Economics, International Trade and Finance, and Treaties and Agreements
Political Geography:: Russia, Europe, Ukraine, Kazakhstan, and Asia

380. The BRICS Development Bank: Why the world's newest global bank must adopt a pro-poor agenda

Author:: Lysa John
Publication Date:: 06-2014
Content Type:: Policy Brief
Institution:: Oxfam Publishing
Abstract:: In July 2014, a new multilateral and Southern-led development bank is expected to be launched by the leaders of Brazil, Russia, India, China and South Africa – better known as the BRICS. The BRICS Development Bank will provide a fresh source of finance for developing and emerging economies to meet their development needs. Little has been made public regarding the proposed Bank's core mandate or activities but while governments negotiate the technicalities of the Bank, it is critical that they also provide a solid vision of the principles, priorities and objectives on which the Bank's activities and operations will be premised. This policy brief recommends that these include commitments to: ending extreme poverty and inequality, with a special focus on gender equity and women's rights; aligning with environmental and social safeguards and establishing mechanisms for information sharing, accountability and redress; leadership on the sustainable development agenda; the creation of mechanisms for public consultation and debate; and the adoption a truly democratic governance structure.
Topic:: Development, Economics, Gender Issues, International Cooperation, and Poverty
Political Geography:: Africa, Russia, China, Europe, India, Asia, South Africa, Brazil, and South America

381. New Directions in Asia-Pacific Economic Integration

Author:: Peter A. Petri and Ambassador Tang Guoqiang
Publication Date:: 01-2014
Content Type:: Book
Institution:: East-West Center
Abstract:: The year 2014 marks the twenty-fifth anniversary of the first APEC Ministerial Meeting and the twentieth anniversary of APEC’s Bogor Goals. It’s time to shape the future by building on past achievements. If we look at the past 25 years of economic cooperation and integration in the Asia-Pacific region, I think it can be roughly divided into three stages.
Topic:: Economics, International Cooperation, International Trade and Finance, and Treaties and Agreements
Political Geography:: Asia

382. Danish Foreign Policy Yearbook 2014

Author:: Nanna Hvidt and Hans Mouritzen (eds.)
Publication Date:: 08-2014
Content Type:: Book
Institution:: Danish Institute for International Studies (DIIS)
Abstract:: Danish Foreign Policy and the activities of the Ministry of Foreign Affairs in 2013 were marked by the continuing economic and political diffusion of power on the global stage – a development that generates dynamism and new opportunities in the globalised world, but also challenges the position of Europe. The Permanent Secretary of State for Foreign Affairs describes the political and economic developments in the world – which have led to a far-reaching reorganisation of Danish diplomatic representations abroad – and analyses the most important Danish foreign policy priorities of 2013. The article emphasizes trends in the EU, in international security, and regarding the Arctic and the transatlantic dimensions, as well as developments in the Middle East, Asia and Africa, and finally global development trends.
Topic:: Foreign Policy, Defense Policy, Economics, and Foreign Aid
Political Geography:: Africa, Europe, Middle East, and Asia

383. Trade policy issues in the Wider Europe – that led to war and not yet to peace

Author:: Michael Emerson
Publication Date:: 07-2014
Content Type:: Working Paper
Institution:: Centre for European Policy Studies (CEPS)
Abstract:: This paper looks at the trade policy landscape of the EU and the wider Europe, with a focus on issues arising from the signature on 27 June 2014 of Deep and Comprehensive Free Trade Agreements (DCFTAs) between the EU and three East European countries (Georgia, Moldova and Ukraine), and actual or prospective issues relating to the customs union of Belarus, Russia and Kazakhstan (BRK), and the Eurasian Economic Union whose founding treaty was signed on 29 May 2014. While the contrived collision between these projects has tragically induced Russia to break all the established international security norms by waging war against Ukraine, the present paper deals essentially with trade policy issues. The huge expansion of intercontinental free trade area negotiations currently underway, in which the EU is an active participant alongside much of the Americas and Asia, stands in contrast with Russia's choice to restrict itself to the Eurasian Economic Union, which is only a marginal extension of its own economy. Alone among the major economies in the world, Russia does not seek to integrate economically with any major economic bloc, which should be a matter of serious concern for Moscow. Within the wider Europe, the EU's DCFTAs with Ukraine, Moldova and Georgia are a major new development, but Russia now threatens trade sanctions against Ukraine in particular, the economic case for which seems unfounded and whose unilateral application would also impair the customs union. The Belarus-Russia-Kazakhstan customs union itself poses several issues of compatibility with the rules of the WTO, which in turn are viewed by the EU as an impediment to discussing possible free trade scenarios with the customs union, although currently there are far more fundamental political impediments to any consideration of such ideas. Nonetheless this paper looks at various long-term scenarios, if only as a reminder that there could be much better alternatives to the present context of conflict around Ukraine.
Topic:: Economics and International Trade and Finance
Political Geography:: Russia, America, Europe, Ukraine, Kazakhstan, Asia, and Georgia

384. Power Shift and Renminbi Internationalization: Recommendations for the G20

Author:: Raluca Diana Ardelean and Mengun Zhang
Publication Date:: 07-2014
Content Type:: Policy Brief
Institution:: Centre for International Governance Innovation
Abstract:: China has gained substantial economic power in recent years, becoming the second-largest trading nation after the United States and the largest goods-trading nation since 2012 (Eichengreen 2014). It is also currently the largest source of savings and the largest potential source of capital for international investment (ibid.). Measured by GDP, China is now the second-largest economy in the world (see Figure 1), and the World Bank surmises it is likely to surpass the United States in 2014 (World Bank 2014). Because of China's growing economic importance, a shift in power is reasonably assumed. As its economic power grows, internationalization of the RMB has become a key policy goal for China, especially after the 2008 financial crisis (Zhang 2009; Park 2010; China Securities Regulatory Commission [CSRC] 2014). This goal demonstrates China's desire for better integration and representation in the international economic community and signals its willingness to perform internal financial reforms and take more responsibility in global economic affairs.
Topic:: Economics, International Trade and Finance, and Monetary Policy
Political Geography:: United States, China, and Asia

385. The China-EU BIT: The emerging "Global BIT 2.0"?

Author:: Wenhua Shan and Lu Wang
Publication Date:: 08-2014
Content Type:: Working Paper
Institution:: Columbia Center on Sustainable Investment
Abstract:: Since China and the European Union (EU) announced their decision to negotiate a bilateral investment treaty (BIT) at the 14th China-EU Summit in February 2012, the two sides have engaged in two rounds of negotiations. If successful, it will be the first standalone EU BIT, a BIT between the world's largest developed economy and the world's largest developing economy, and will occupy a unique place in the history of BIT negotiations.
Topic:: Economics, International Trade and Finance, Bilateral Relations, and Foreign Direct Investment
Political Geography:: China, Europe, and Asia

386. Southeast Asia's Regression From Democracy and Its Implications

Author:: Joshua Kurlantzick
Publication Date:: 05-2014
Content Type:: Working Paper
Institution:: Council on Foreign Relations
Abstract:: Between the late 1980s and the late 2000s, many countries in Southeast Asia were viewed, by global democracy analysts and Southeast Asians themselves, as leading examples of democratization in the developing world. By the late 2000s, Thailand, Malaysia, Indonesia, the Philippines, and Singapore all were ranked as "free" or "partly free" by the monitoring organization Freedom House, while Cambodia and, perhaps most surprisingly, Myanmar had both taken sizable steps toward democracy as well. Yet since the late 2000s, Southeast Asia's democratization has stalled and, in some of the region's most economically and strategically important nations, gone into reverse. Over the past ten years, Thailand has undergone a rapid and severe regression from democracy and is now ruled by a junta. Malaysia's democratic institutions and culture have regressed as well, with the long-ruling Barisan Nasional (BN) coalition cracking down on dissent and trying to destroy what had been an emerging, and increasingly stable, two-party system. Singapore's transition toward contested politics has stalled. In Cambodia and Myanmar, hopes for dramatic democratic change have fizzled. Only the Philippines and Indonesia have stayed on track, but even in these two countries democratic consolidation is threatened by the persistence of graft, public distrust of democratic institutions, and continued meddling in politics by militaries.
Topic:: Democratization, Economics, and Human Rights
Political Geography:: Asia and Southeast Asia

387. The Impact of Asian Investment on Africa's Textile Industries

Author:: Tang Xiaoyang
Publication Date:: 08-2014
Content Type:: Working Paper
Institution:: Carnegie Endowment for International Peace
Abstract:: Asian investors' impact on Africa's cotton, textile, and apparel sectors may have profound consequences for the continent's industrialization and development. As southeast African countries seek to industrialize and build indigenous cotton-textile-apparel value chains, the interactions between Asian—particularly Chinese—investors and African companies become more and more complex. Indeed, Asian investors present both a challenge to and an opportunity for local industries, and southeast African countries need a clear vision and tailored policies to make the most of the opportunities. Asian investors' impact on Africa's cotton, textile, and apparel sectors may have profound consequences for the continent's industrialization and development. As southeast African countries seek to industrialize and build indigenous cotton-textile-apparel value chains, the interactions between Asian-particularly Chinese-investors and African companies become more and more complex. Indeed, Asian investors present both a challenge to and an opportunity for local industries, and southeast African countries need a clear vision and tailored policies to make the most of the opportunities.
Topic:: Economics and International Trade and Finance
Political Geography:: Africa and Asia

388. Debt Sanctions Can Help Ukraine and Fill a Gap in the International Financial System

Author:: Anna Gelpern
Publication Date:: 08-2014
Content Type:: Policy Brief
Institution:: Peterson Institute for International Economics
Abstract:: The escalating crisis in Ukraine has prompted the United States and Europe to impose the toughest economic sanctions against Russia since the end of the Cold War. Continued instability and military conflict in eastern Ukraine are straining Ukrainian finances. Despite a generous international support package, the government faces shrinking revenues, rising costs, and a spike in foreign debt payments over the next two years.
Topic:: Cold War, Debt, and Economics
Political Geography:: Russia, Ukraine, and Asia

389. Evaluating Asset-Market Effects of Unconventional Monetary Policy: A Cross-Country Comparison

Author:: John Rogers, Chiara Scotti, and Jonathan H. Wright
Publication Date:: 03-2014
Content Type:: Commentary and Analysis
Institution:: Board of Governors of the Federal Reserve System
Abstract:: This paper examines the effects of unconventional monetary policy by the Federal Reserve, Bank of England, European Central Bank and Bank of Japan on bond yields, stock prices and exchange rates. We use common methodologies for the four central banks, with daily and intradaily asset price data. We emphasize the use of intradaily data to identify the causal effect of monetary policy surprises. We find that these policies are effective in easing financial conditions when policy rates are stuck at the zero lower bound, apparently largely by reducing term premia.
Topic:: Economics, Monetary Policy, Exchange Rate Policy, and Banking
Political Geography:: Japan, Europe, Asia, and England

390. Mutations sociales et identitaires en Azerbaïdjan : les évolutions du rituel de deuil

Author:: Raphaelle Mathey
Publication Date:: 06-2013
Content Type:: Special Report
Institution:: Centre d'Etudes et de Recherches Internationales
Abstract:: Anthropological studies demonstrate that personal values, social relationships and indicators of cultural identity are expressed in a symbolic manner in funeral rites. In Azerbaijan such rites can include as many as ten commemorative events (yas) in the year following the death. These are critically important events in which allegiances are made and broken. During the period of political chaos and economic recession which followed independence, from 1991 to 1996, the yas served as an incubator for a local identity movement. Political stability, beginning in 1996, and the advent of the petroleum era, in the 2000s, transformed the country’s face, reordered the relationships between individuals, and today raise the issue of creating a State and developing a national political project. The study of funeral rites enables one to measure the magnitude of these changes. The evolution of yas reveals new needs of a society in turmoil and reflects the fundamental examination Azerbaijanis are undertaking of themselves, their religion, their European and Oriental identity and their relationship to modernity.
Topic:: Economics, Religion, History, Culture, Identities, and Anthropology
Political Geography:: Central Asia, Asia, and Azerbaijan

391. Impact of China‐Africa Investment Relations: The Case of Ethiopia

Author:: Alemayehu Geda and Atenafu G. Meskel
Publication Date:: 07-2013
Content Type:: Policy Brief
Institution:: African Economic Research Consortium (AERC)
Abstract:: This study investigated the growing relation between Ethiopia and China in the last decade. It is possible for Chinese-Africa relations to be either complementary or competitive (or indeed both) and it has multifaceted features. Notwithstanding this multifaceted linkage, the study focused on one of the channels – the investment (FDI) channel. Other channels are explored depending on the degree at which they shed light on understanding the Chinese-Ethiopian investment relations, which is the subject of this study.
Topic:: Economics, International Political Economy, International Trade and Finance, Foreign Direct Investment, and Macroeconomics
Political Geography:: Africa, China, Asia, and Ethiopia

392. The Impact of China‐Africa Investment Relations: The Case of Madagascar

Author:: Jean Razafindravonona, Eric Rakotomanana, and Jimmy Rajaobelina
Publication Date:: 07-2013
Content Type:: Policy Brief
Institution:: African Economic Research Consortium (AERC)
Abstract:: The rapid and spectacular expansion of the Chinese economy in the recent past is, for African countries, an opportunity to take advantage of not only in terms of strengthening the South-South cooperation, but also of developing African economies. It is thus important to define the channels through which African countries would do so. It is with this goal in mind that the African Economic Research Consortium (AERC) initiated the research project on the impact of the economic relation between China and sub-Saharan African countries.
Topic:: Development, Economics, International Political Economy, International Trade and Finance, Foreign Direct Investment, Global Political Economy, and Macroeconomics
Political Geography:: Africa, China, Asia, and Madagascar

393. The Impact of China‐Africa Trade Relations: The Case of the Republic of Congo

Author:: Jean‐Christophe Boungou Bazika
Publication Date:: 07-2013
Content Type:: Policy Brief
Institution:: African Economic Research Consortium (AERC)
Abstract:: The relations between China and Congo are already old since they began in 1963. However since the beginning of the 2000s, the economic relations between the two countries are characterized by an unprecedented dynamism. Congo’s exports and imports with China recorded a leap of 179.38% and 309.21% respectively for the period 2001-2005. Such a trend pushed analysts to predict that the relations between Africa and China should have a significant impact and lead to upheavals in the structure of African economies. Two tendencies emerged in the literature: the first predicts that these relations would have a negative impact, in the sense that they would provoke a competition that African producers would not be able to bear. The second predicts that these relations would enable African countries to consolidate their growth, thanks to the diversification of trade and the installation of infrastructures which were lacking - such as roads, bridges, hydro-electric dams, drinking water purification plants, etc.
Topic:: Economics, International Political Economy, International Trade and Finance, Foreign Direct Investment, Global Political Economy, and Macroeconomics
Political Geography:: Africa, China, Asia, and Republic of Congo

394. Enhancing Value Chains: An Agenda for APEC

Author:: Matthew P. Goodman and Scott Miller
Publication Date:: 11-2013
Content Type:: Working Paper
Institution:: Center for Strategic and International Studies
Abstract:: Economic integration has been a focus of Asia-Pacific affairs for the last quarter century. To support and strengthen economic ties, governments in the region have pursued an array of integration initiatives, from the Asia-Pacific Economic Cooperation (APEC) forum launched in 1989 to bilateral and regional trade negotiations currently underway. APEC has been the most successful tool of regional trade and investment integration thus far and has the potential to continue bridging differences between various integration efforts in the region. This report, with input from a wide variety of regional and topical experts, posits that developing a common, high-standard policy approach to value chains could pull together the various integration efforts to the substantial economic benefit of the entire region. The report offers eight recommendations for a broad-based APEC initiative building on existing work in the region on supply chains and connectivity.
Topic:: Economics, International Trade and Finance, Regional Cooperation, and Treaties and Agreements
Political Geography:: East Asia and Asia

395. Politics and Economics in Putin's Russia

Author:: Stephen J. Blank
Publication Date:: 12-2013
Content Type:: Working Paper
Institution:: The Strategic Studies Institute of the U.S. Army War College
Abstract:: The United States Army War College educates and develops leaders for service at the strategic level while advancing knowledge in the global application of Landpower.
Topic:: Security, Political Violence, and Economics
Political Geography:: Russia, United States, Europe, and Asia

396. ASEAN-Canada Forum and Public Symposium 2013: Reflections on an Inclusive and Equitable ASEAN Community in 2015

Publication Date:: 08-2013
Content Type:: Working Paper
Institution:: Centre for Non-Traditional Security Studies, S. Rajaratnam School of International Studies
Abstract:: The ASEAN-Canada Enhanced Partnership Plan of Action (2010- 2015) represents the latest effort in a relationship that dates back to 1977, the year that Canada became one of the first countries to be designated a Dialogue Partner of ASEAN. According to the Plan of Action, ASEAN and Canada will 'work and consult closely in responding to regional and international challenges, and in building an ASEAN-centred regional architecture which is open and inclusive'. They will also 'promote the development of enhanced ASEAN connectivity which will help foster the building of an ASEAN Community by 2015'.
Topic:: Development, Economics, and Treaties and Agreements
Political Geography:: Canada and Asia

397. The Hyperglobalization of Trade and Its Future

Author:: Arvind Subramanian and Martin Kessler
Publication Date:: 07-2013
Content Type:: Working Paper
Institution:: Peterson Institute for International Economics
Abstract:: This paper describes seven salient features of trade integration in the 21st century: Trade integration has been more rapid than ever (hyperglobalization); it is dematerialized, with the growing importance of services trade; it is democratic, because openness has been embraced widely; it is criss-crossing because similar goods and investment flows now go from South to North as well as the reverse; it has witnessed the emergence of a mega-trader (China), the first since Imperial Britain; it has involved the proliferation of regional and preferential trade agreements and is on the cusp of mega-regionalism as the world's largest traders pursue such agreements with each other; and it is impeded by the continued existence of high barriers to trade in services. Going forward, the trading system will have to tackle three fundamental challenges: In developed countries, the domestic support for globalization needs to be sustained in the face of economic weakness and the reduced ability to maintain social insurance mechanisms. Second, China has become the world's largest trader and a major beneficiary of the current rules of the game. It will be called upon to shoulder more of the responsibilities of maintaining an open system. The third challenge will be to prevent the rise of mega-regionalism from leading to discrimination and becoming a source of trade conflicts. We suggest a way forward—including new areas of cooperation such as taxes—to maintain the open multilateral trading system and ensure that it benefits all countries.
Topic:: Economics, Emerging Markets, Globalization, and International Trade and Finance
Political Geography:: Europe, Asia, and North America

398. Asian and European Financial Crises Compared

Author:: Edwin M. Truman
Publication Date:: 10-2013
Content Type:: Working Paper
Institution:: Peterson Institute for International Economics
Abstract:: The European and Asian financial crises are the two most recent major regional crises. This paper compares their origins and evolution. The origins of the two sets of crises were different in some respects, but broadly similar. The two sets of crises also shared similarities in their evolution, but here the differences were more significant. The European crisis countries received more external financial support, despite the fact that they involved more solvency issues while the Asian crises involved more liquidity issues. On balance, the reform programs in the European crises were less demanding and rigorous than in the Asian crises. Partly as a consequence, the negative impacts on the global economy have been larger. I draw three lessons from this analysis: First, history will repeat itself; there will be other external financial crises. Second, other countries have a stake in appropriate crisis management. Third, the IMF and other countries were mistaken in treating the European crises as individual country crises rather than as a crisis for the euro area as a whole that demanded policy conditionality on all members of the euro area.
Topic:: Economics, International Trade and Finance, International Monetary Fund, and Financial Crisis
Political Geography:: Europe and Asia

399. Africa's Booming Oil and Natural Gas Exploration and Production: National Security Implications for the United States and China

Author:: David E. Brown
Publication Date:: 12-2013
Content Type:: Working Paper
Institution:: The Strategic Studies Institute of the U.S. Army War College
Abstract:: The frenetic search for hydrocarbons in Africa has become so intense and wide ranging that there is planned or ongoing oil and gas exploration in at least 51 of the continent's 54 countries. Knowledge about Africa's geology is improving rapidly, generating great optimism about the continent's energy future. Onshore and offshore rifts and basins created when the African continent separated from the Americas and Eurasia 150 million years ago are now recognized as some of the most promising hydrocarbon provinces in the world. Offshore Angola and Brazil, Namibia and Brazil, Ghana and French Guyana, Morocco and Mexico, Somalia and Yemen, and Mozambique and Madagascar are just a few of the geological analogues where large oil fields have been discovered or are be-lieved to lie. One optimistic but quite credible scenario is that future discoveries in Africa will be around five timestheir current level based on what remains un-explored on the continent versus currently known sub-soil assets. If proven true, this could have a pro-foundly positive impact on Africa's future growth and strategic position in the global economy.
Topic:: Economics, Human Rights, and Natural Resources
Political Geography:: Africa, United States, China, America, Eurasia, Asia, Brazil, Yemen, Mozambique, Mexico, Morocco, Somalia, Angola, Ghana, Namibia, Guyana, and Moldavia

400. Redefining Leadership in the Global Nuclear Energy Market

Author:: Andrew Paterson and Walter Howes
Publication Date:: 12-2013
Content Type:: Working Paper
Institution:: Atlantic Council
Abstract:: Global energy demand will increase substantially in the coming decades under pressure from global trends, including an increasing population that will reach 9 billion by 2040, and, for the first time in history, will be overwhelmingly urban. Meeting basic global energy needs will require the use of all available sources of energy while addressing and minimizing environmental and climate impacts. Nuclear energy is an established part of the world's electricity mix, and provides large-scale, reliable, base-load electricity demand. As such, it seems to be well matched to fit into an increasingly urban world that aims to mediate environmental challenges.
Topic:: Economics, Energy Policy, Environment, International Cooperation, International Trade and Finance, and Nuclear Power
Political Geography:: United States and Asia

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COLUMBIA UNIVERSITY PRESS