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1. Asia’s Push For Monetary Alternatives

Author:
Marcus Noland
Publication Date:
12-2022
Content Type:
Special Report
Institution:
East-West Center
Abstract:
For the last quarter century, Asia has been seeking greater autonomy within the existing international monetary system. While the region has had the resources to go its own way, intraregional rivalries and a reluctance to damage ties to the US and the International Monetary Fund have put a damper on regional initiatives. Now the ascendency of China offers a path toward greater regional autonomy in monetary affairs. Asia, led by China, has been playing a two-track strategy pushing for greater influence within the existing global institutions, while developing its own parallel institutions such as the Chiang Mai Initiative Multilateralization, the Belt and Road Initiative, and the Asian Infrastructure Investment Bank. Use of the Chinese renminbi will likely grow as a trade invoicing currency but expanded use of the renminbi as a reserve currency is more uncertain. It is possible that the dollar-centered international financial system could evolve into a multipolar system with multiple currencies playing key roles.
Topic:
Monetary Policy, Finance, Economy, and Investment
Political Geography:
China, South Asia, East Asia, Asia, and Southeast Asia

2. Resilient Industry Ecochains for the US-Taiwan Partnership

Author:
Stephen Su
Publication Date:
07-2022
Content Type:
Special Report
Institution:
East-West Center
Abstract:
Stephen Su, Senior Vice President and General Director of the Industrial Technology Research Institute (ITRI) of Taiwan, explains that the "United States and Taiwan can work closely together to develop resilient industry ecochains for key industries such as semiconductors, telecommunications, automotive, biotech, machinery, etc."
Topic:
Partnerships, Economy, Industry, Resilience, COVID-19, and Supply Chains
Political Geography:
China, Taiwan, Asia, North America, and United States of America

3. Clean Energy Transitions in the Pacific Islands Present Opportunities for Strategic US Economic Partnerships

Author:
Kalim U. Shah
Publication Date:
06-2022
Content Type:
Special Report
Institution:
East-West Center
Abstract:
Dr. Kalim U. Shah, Professor of Energy and Environmental Policy and Director of the Island Policy Lab, Joseph R. Biden Jr. School of Public Policy and Administration, University of Delaware, explains that with some locales "targeting as much as 100% renewables for their energy mix… [t]he modernization of the Pacific Islands’ energy sector promises to strengthen local economies and enhance the quality of life for residents"
Topic:
Partnerships, Economy, Renewable Energy, and Energy
Political Geography:
Asia-Pacific and Oceania

4. A New Horizon for Korea-US Economic Relations under the Yoon Suk-yeol Administration

Author:
Jin Kyo Suh
Publication Date:
07-2022
Content Type:
Special Report
Institution:
East-West Center
Abstract:
Dr. Jin Kyo Suh, Senior Research Fellow at the Korea Institute for International Economic Policy, explains that "Korea-US relations are entering a new era with the inauguration of the Yoon Seok-yeol government.." as "President Yoon Seok-yeol himself is well aware of the importance of universal values, such as freedom, democracy and human rights."
Topic:
Foreign Policy, Bilateral Relations, and Economy
Political Geography:
Asia, South Korea, North America, and United States of America

5. Climate Change in the Commonwealth of the Northern Mariana Islands: Indicators and Considerations for Key Sectors

Author:
Zena Grecni, Eric M. Derrington, Robbie Greene, Wendy Miles, and Victoria Keener
Publication Date:
01-2021
Content Type:
Special Report
Institution:
East-West Center
Abstract:
Hotter weather, stronger typhoons, coral reef death, and physical and mental health risks are among the major challenges detailed in a new report on climate change in the Commonwealth of the Northern Mariana Islands (CNMI). Threatened resources include high-value coastal infrastructure and the millions of dollars that ocean ecosystems add to the CNMI economy annually, according to the report by the Pacific Islands Regional Climate Assessment (PIRCA), a consortium of several government, NGO, and research entities. Climate Change in the Commonwealth of the Northern Mariana Islands: Indicators and Considerations for Key Sectors is one in a series of new PIRCA reports aimed at assessing the state of knowledge about climate change indicators, impacts, and adaptive capacity of the US-Affiliated Pacific Islands and the Hawaiian archipelago. Authors from the CNMI Office of Planning and Development, the National Oceanic and Atmospheric Administration’s Office for Coastal Management, and the East-West Center—along with 50 technical contributors from local governments, NGOs, researchers, and community groups—collaboratively developed the CNMI PIRCA report. Climate change is expected to disrupt many aspects of life in the CNMI. Those who are already vulnerable—including children, the elderly, low-income families, and individuals with disabilities—are at greater risk from extreme weather and climate events. Climate Change in the Commonwealth of the Northern Mariana Islands: Indicators and Considerations for Key Sectors provides guidance for decision-makers seeking to better understand the implications of climate variability and change for CNMI and its communities. This assessment also identifies the additional information and research needed to support responses that enhance resilience and help CNMI to withstand the changes to come.
Topic:
Climate Change, Environment, Government, and Economy
Political Geography:
Asia-Pacific and Northern Mariana Islands

6. Climate Change in American Sāmoa: Indicators and Considerations for Key Sectors

Author:
Victoria Keener, Zena Grecni, Kelley Anderson Tagarino, Christopher Shuler, and Wendy Miles
Publication Date:
06-2021
Content Type:
Special Report
Institution:
East-West Center
Abstract:
Human health risks, stronger cyclones, coral reef death, and coastal flooding are among the major challenges detailed in a new report on climate change in American Sāmoa. Threatened resources include high-value coastal infrastructure and the millions of dollars that ocean ecosystems add to American Sāmoa's economy annually, according to the report by the Pacific Islands Regional Climate Assessment (PIRCA), a consortium of several government, NGO, and research entities. Climate Change in American Sāmoa: Indicators and Considerations for Key Sectors is one in a series of new PIRCA reports aimed at assessing the state of knowledge about climate change indicators, impacts, and adaptive capacity of the US-Affiliated Pacific Islands and the Hawaiian archipelago. Authors from the University of Hawai‘i and the East-West Center—along with 25 technical contributors from local governments, NGOs, researchers, and community groups—collaboratively developed the American Sāmoa report. Climate change is expected to disrupt many aspects of life in American Sāmoa. Those who are already vulnerable—including children, the elderly, low-income families, and individuals with disabilities—are at greater risk from extreme weather and climate events. Climate Change in American Sāmoa: Indicators and Considerations for Key Sectors provides guidance for decision-makers seeking to better understand the implications of climate variability and change for American Sāmoa and its communities. This assessment also identifies the additional information and research needed to support responses that enhance resilience and help American Sāmoa to withstand the changes to come.
Topic:
Climate Change, Natural Resources, Infrastructure, and Economy
Political Geography:
Asia-Pacific and American Samoa

7. Forging a Bay of Bengal Community is the Need of the Hour

Author:
Sabyasashi Dutta
Publication Date:
05-2021
Content Type:
Special Report
Institution:
East-West Center
Abstract:
The Bay of Bengal, the world’s largest Bay, is strategically located in the Indian Ocean. On its western rim, lies the coastline of the Indian Peninsula and to its south, the island nation of Sri Lanka. To the east the bay connects key parts of Southeast Asia including Myanmar, Indonesia, Thailand as well as the Andaman Sea and the Malacca straits. At its very northern cusp lies Bangladesh, which is also the delta of the great rivers of Ganges, Brahmaputra, and Meghna. These rivers connect the Bay in a unique “mountain to sea” ecosystem with natural connectivity to the Bay for the landlocked states of North Eastern India and the Himalayan nations of Nepal and Bhutan. In turn, the monsoon currents which regulate the climate of the Bay of Bengal gather moisture from the bay and dictate precipitation patterns in the mountains and plains in the hinterland. The hills of Meghalaya in North Eastern India record the highest rainfall in the world as they are first hit by the monsoon clouds that gather moisture from the Bay. An interlace of snow and rain fed rivers, their basins, and their estuaries at the Bay nurture a large diversity of aquatic and terrestrial wildlife flora and fauna (e.g., the Sunderban mangroves spanning parts of Myanmar, India and Bangladesh) and offer a great diversity of agricultural produce. The Bay and the countries along and connected by its littoral are a compact maritime sub region connected at the level of economy and ecology, having an enormous impact on the hundreds of its inhabitant who live on its coasts and in its hinterlands.
Topic:
Economy, Maritime, and COVID-19
Political Geography:
Indonesia, Sri Lanka, Thailand, Myanmar, Indian Ocean, Indo-Pacific, and Bay of Bengal

8. The Importance of the Bay of Bengal as a Causeway between the Indian and Pacific Oceans

Author:
Tariq Karim
Publication Date:
05-2021
Content Type:
Special Report
Institution:
East-West Center
Abstract:
The core Bay of Bengal countries today account for a population of almost 1.78 billion, while adjacent states with interest account for an additional 490 million. The “core states” (X, Y, Z) have a combined GDP of approximately $7.5 trillion, while adjacent states with interest add another $811 billion. While SAARC countries’ total intra-regional trade accounts for only 5% of their total global trade, ASEAN has a more respectable 25% intra trade while EU and North America boast 40-50%. One may reasonably imagine an economically and ecologically integrated Bay of Bengal community to increase SAARC’s current comparatively low figure, given their advantage in population, demography, and entrepreneurial vigor. The Bay of Bengal countries do not have a cohesive community identity, yet. If the Bay of Bengal littorals could evolve toward comprising a Bay of Bengal Community, replicating EEC and ASEAN, possibilities for prosperity for all the littorals would be almost limitless, while hitherto so-called land-locked entities (northeast Indian states, Bhutan, and Nepal) would get a much-needed outlet to the seas. However, the peoples of this region need to “rediscover each other”, revive memories of old civilizational, cultural, and commercial ties that had linked them historically in the past until the post-War new order rent them all asunder. They need to reinvent their regional identity, in a manner of speaking.
Topic:
Regional Cooperation, Economy, Trade, and Ecology
Political Geography:
Indian Ocean, Pacific Ocean, and Bay of Bengal

9. Improving Land Connectivity Around the Bay of Bengal is Essential for Integration

Author:
Pritam Banerjee
Publication Date:
05-2021
Content Type:
Special Report
Institution:
East-West Center
Abstract:
Facilitating cross-border movement by road is the most critical element of any strategy for greater economic integration among BIMSTEC countries. Cross-border road freight can facilitate even a small consignment to be delivered directly across the border with cost-effectiveness; unlike a full railway rake or even a coastal short-sea feeder vessel which require some level of aggregation of consignments into a larger parcel of goods. Direct road services also reduce multiple handling and trans-shipment requirements. Multi-modal solutions that support optimal use of international connectivity from different air and marine hubs in the region can only be facilitated by an existing efficient road freight feeder network. For example, a Bangladeshi exporter can exploit the cheaper and faster shipping connectivity to Europe via India’s Jawaharlal Nehru Port with the help of an efficient cross-border road feeder service that directly connects the exporter’s factory in Bangladesh to this port in western India. As feeder services for ocean and especially air transport? reduce frequency or become more expensive in the post-Covid ‘normal’, access to cheaper and faster connectivity to global markets from large regional hubs will be critical for the region’s entrepreneurs.
Topic:
Infrastructure, Economy, Regional Integration, and Trade
Political Geography:
South Asia and Bay of Bengal

10. India’s Networking Response to the Chinese Threat

Author:
Rajesh Basrur
Publication Date:
06-2021
Content Type:
Special Report
Institution:
East-West Center
Abstract:
India has experienced rising tensions with China in recent years, as demonstrated by two border crises in 2017 and 2020-21. The second event saw the death of some 20 Indian troops, and at least 4 Chinese soldiers, in hand-to-hand combat – the first fatalities in nearly half a century of periodic border face-offs. New Delhi’s policy response has spanned both internal and external balancing. The former has involved augmenting India’s capacity to engage in limited combat of the type that nuclear-armed states have occasionally fought, as did the Soviet Union and China in 1969 and India and Pakistan in 1999. The Indian military has bolstered its border by deploying combat troops, cruise missiles, and advanced combat aircraft. However, China has done much the same, putting pressure on India to upscale its military capabilities. Simultaneously, India has tried to reduce its dependence on the Chinese economy, a more complicated task. Despite a 10 percent decline in bilateral trade owing to the Covid-19 pandemic and border tensions, China was India’s largest trading partner ($77.7 billion) in 2020. The Narendra Modi government sharply cut Chinese investment when the 2020 border confrontation in Ladakh broke out, expelling major Chinese companies like TikTok, WeChat, and UC Browser. Despite these measures, India’s ability to shut China out of its economy is limited. The Indian market depends heavily on Chinese electronic components (70 percent in value terms), pharmaceutical ingredients (70 percent), and consumer durables (45 percent).
Topic:
Conflict Prevention, Bilateral Relations, Economy, and Trade
Political Geography:
China, South Asia, India, and Asia