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332. Crisis and Consensus; America and ASEAN in a New Global Context
- Author:
- Donald K. Emmerson
- Publication Date:
- 02-2009
- Content Type:
- Working Paper
- Institution:
- Walter H. Shorenstein Asia-Pacific Research Center
- Abstract:
- No crisis is uniformly global. The suffering and the opportunity that a “global” crisis entails are always unevenly distributed across countries, and unevenly across the population inside any one country. That said, one can nevertheless argue that we—not the old royal “we” but, more presumptuously, the new global “we”—are in January 2009 experiencing the latest of four dramatic changes that major parts of the world have undergone over the last twenty years. In 1989, of course, the Berlin Wall was breached, ending the Cold War, followed by the implosion of Lenin's Soviet dystopia two years later. Nor did the 1989 massacre of proreform demonstrators in Tiananmen Square revive a command economy in China. Instead it kept the polity shut so that Deng's economy could continue to open.
- Topic:
- International Relations, Globalization, and International Political Economy
- Political Geography:
- United States, China, America, Israel, Asia, and Berlin
333. Global Imbalances and the Financial Crisis
- Author:
- Steven Dunaway
- Publication Date:
- 03-2009
- Content Type:
- Working Paper
- Institution:
- Council on Foreign Relations
- Abstract:
- The current economic and financial crisis has brought about a significant change in global economic governance as the international forum for discussions on the crisis has shifted from the small group of advanced countries in the Group of Seven (G7) to the Group of Twenty (G20), a broader group including important emerging market countries. The G20 summit held in Washington, DC, on November 15, 2008, dealt with the immediate concerns fostered by the crisis and focused on both macroeconomic policy actions needed to support global growth and ideas for implementing financial market reforms. Follow-up G20 summits are expected, starting with a gathering in the United Kingdom in April 2009. However, for these discussions to have a substantial impact, the agenda will have to be broadened beyond economic stimulus and financial market regulation. If not, global policymakers will miss a critical chance to make the world economy and financial markets more stable, as then U.S. treasury secretary Henry M. Paulson Jr. pointed out: If we only address particular regulatory issues—as critical as they are—without addressing the global imbalances that fueled recent excesses, we will have missed an opportunity to dramatically improve the foundation for global markets and economic vitality going forward. The pressure from global imbalances will simply build up again until it finds another outlet.
- Topic:
- International Relations, Economics, International Political Economy, and International Trade and Finance
- Political Geography:
- United States and China
334. China's $1.7 Trillion Bet: China's External Portfolio and Dollar Reserves
- Author:
- Brad W. Setser and Arpana Pandey
- Publication Date:
- 01-2009
- Content Type:
- Working Paper
- Institution:
- Council on Foreign Relations
- Abstract:
- China reported $1.95 trillion in foreign exchange reserves at the end of 2008. This is by far the largest stockpile of foreign exchange in the world: China holds roughly two times more reserves than Japan, and four times more than either Russia or Saudi Arabia. Moreover, China's true foreign port- folio exceeds its disclosed foreign exchange reserves. At the end of December, the State Administration of Foreign Exchange (SAFE)—part of the People's Bank of China (PBoC) managed close to $2.1 trillion: $1.95 trillion in formal reserves and between $108 and $158 billion in “other foreign assets.” China's state banks and the China Investment Corporation (CIC), China's sovereign wealth fund, together manage another $250 billion or so. This puts China's total holdings of foreign assets at over $2.3 trillion. That is over 50 percent of China's gross domestic product (GDP), or roughly $2,000 per Chinese inhabitant.
- Topic:
- International Relations, Debt, Economics, Emerging Markets, and International Trade and Finance
- Political Geography:
- Russia, United States, China, Israel, Asia, and Saudi Arabia
335. China's Growing Role in UN Peacekeeping
- Publication Date:
- 04-2009
- Content Type:
- Working Paper
- Institution:
- International Crisis Group
- Abstract:
- Over the past twenty years China has become an active participant in UN peacekeeping, a development that will benefit the international community. Beijing has the capacity to expand its contributions further and should be encouraged to do so. China's approach to peacekeeping has evolved considerably since it assumed its UN Security Council (UNSC) seat in 1971, when it rejected the entire concept of peacekeeping. Now, with over 2,000 peacekeepers serving in ten UN peacekeeping operations worldwide, China's motivations for supporting and participating in peacekeeping have led it to adopt a case-by-case approach that balances those motivations against its traditional adherence to nonintervention. This pragmatic policy shift paves the way for China to provide much-needed personnel as well as political support and momentum for peacekeeping at a time when both conflicts and peacekeeping operations are becoming more complex. China's involvement also further binds it to the international system.
- Topic:
- Conflict Resolution, International Relations, Foreign Policy, Peace Studies, and United Nations
- Political Geography:
- China and Beijing
336. How the West Was Won: China\'s Expansion into Central Asia
- Author:
- Henryk Szadziewski
- Publication Date:
- 04-2009
- Content Type:
- Journal Article
- Journal:
- The Caucasian Review of International Affairs
- Institution:
- The Caucasian Review of International Affairs
- Abstract:
- In the People\'s Republic of China, the Great Western Development Drive has been promoted as a solution to the economic inequalities that exist between the eastern and western regions of the country. Although the initiative has overt economic objectives, these are accompanied by political objectives of internal security in the Xinjiang Uyghur Autonomous Region, an area also known as East Turkestan. The Great Western Development Drive also works in conjunction with China\'s economic and political objectives for the Shanghai Cooperation Organization. As a bridge to the markets of Central Asia, the Great Western Development Drive in East Turkestan has built an infrastructure with which China can export goods and import natural resources. Greater economic cooperation between Central Asia and China has also permitted the silencing of Uyghur dissent in Shanghai Cooperation Organization member states. The net result of China\'s expansion into Central Asia for Uyghurs in the region and in East Turkestan has been economic and political marginalization, most notably in the visible exclusion from the policies and projects of the Great Western Development Drive.
- Topic:
- International Relations
- Political Geography:
- China, Turkey, and Asia
337. The Internationalization of Chinese and Indian Firms: Trends, Motivations and Policy Implications
- Author:
- Sandeep Kapur and Suma Athreye
- Publication Date:
- 01-2009
- Content Type:
- Policy Brief
- Institution:
- United Nations University
- Abstract:
- The last two decades have seen a significant rise in the internationalization of firms from developing economies. In addition to their growing participation in international trade, a number of leading emerging economies are contributing to growing outflows of foreign direct investment (FDI) and cross-border mergers and acquisitions. According to the 2008 World Investment Report, outward flows of FDI from developing countries rose from about US$6 billion between 1989 and 1991 to US$225 billion in 2007. As a percentage of total global outflows, the share of developing countries grew from 2.7% to nearly 13.0% during this period.
- Topic:
- International Relations, Economics, Globalization, International Political Economy, Markets, Foreign Direct Investment, and Financial Crisis
- Political Geography:
- United States, China, and India
338. China-Korea Relations
- Author:
- See-Won Byun
- Publication Date:
- 01-2009
- Content Type:
- Journal Article
- Journal:
- Comparative Connections
- Institution:
- Center for Strategic and International Studies
- Abstract:
- High-level interaction between Presidents Hu Jintao and Lee Myung-bak continues to intensify following the upgrading of the Sino-South Korean relationship to a “strategic cooperative partnership” in August of 2008. The increase in the number of meetings between top leaders is in part a by-product of the proliferation of regional forums in which China and South Korea both have membership and in part an affirmation of the rising importance of the relationship to both sides. This quarter Hu and Lee participated in the Asia-Europe Meeting (ASEM) in Beijing in October as well as the G20 meeting in Washington and the Asia Pacific Economic Cooperation (APEC) forum in Peru in November. Lee and Premier Wen Jiabao also met as part of the first trilateral meeting among Chinese, South Korean, and Japanese leaders held in Fukuoka in mid-December. In contrast, Chinese and North Korean leaders rarely meet these days, and Chinese officials confess ignorance regarding the health of Kim Jong-il despite being North Korea's closest of neighbors.
- Topic:
- International Relations and Foreign Policy
- Political Geography:
- China, Europe, Beijing, Asia, South Korea, and Korea
339. Japan-China Relations
- Author:
- James J. Przystup
- Publication Date:
- 01-2009
- Content Type:
- Journal Article
- Journal:
- Comparative Connections
- Institution:
- Center for Strategic and International Studies
- Abstract:
- In early December, the Japanese Foreign Ministry released its annual survey of public opinion on Japan's international relations, which revealed that over 70 percent of the public considered relations with China to be in poor shape. The survey likewise revealed a record high, 66.6 percent of the Japanese public, as feeling no affinity toward China. Meanwhile, the Ministry of Defense reported increasing PLA naval activities in the waters around Japan, including the incursion of research ships into Japanese territorial waters in the Senkaku Islands chain. There were also reports that China would begin the construction of two aircraft carriers in 2009. Japanese and Chinese leaders met in Beijing in October and in Japan in December, but beyond commitments to best efforts, failed to make any demonstrable progress on food safety and sovereignty issues.
- Topic:
- International Relations and Government
- Political Geography:
- Japan, China, and Beijing
340. Japan-Korea Relations
- Author:
- David C. Kang
- Publication Date:
- 01-2009
- Content Type:
- Journal Article
- Journal:
- Comparative Connections
- Institution:
- Center for Strategic and International Studies
- Abstract:
- The year ended fairly quietly in Japan-Korea relations with no major events marking the last few months of 2008. Japan-North Korea relations remained stagnant and Japan-South Korea relations essentially ignored the Dokdo/Takeshima dispute, instead focusing on dealing with the widening global economic crisis. The biggest diplomatic event was the successful trilateral summit in December among China, Korea, and Japan, which may set the stage for further diplomatic movement. Whether 2009 will bring dramatic progress on these issues remains to be seen, but with new leaders in Japan and South Korea entering their first full years of rule, the continued concerns about the health of North Korea's leader, and a new U.S. president, the new year holds the possibility for progress on at least some of these issues.
- Topic:
- International Relations and Economics
- Political Geography:
- United States, Japan, China, North Korea, and Korea