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2. EIU Global Outlook—a summary of our latest global views
- Publication Date:
- 06-2023
- Content Type:
- Country Data and Maps
- Institution:
- Economist Intelligence Unit
- Abstract:
- No abstract is available.
- Topic:
- Economy, 5-year summary, and Forecast
- Political Geography:
- Europe, Asia, and Americas
3. Asia: Forecast summary
- Publication Date:
- 06-2023
- Content Type:
- Country Data and Maps
- Institution:
- Economist Intelligence Unit
- Abstract:
- No abstract is available.
- Topic:
- Economy, Background, Charts and tables, and Annual indicators
- Political Geography:
- Asia
4. General Equilibrium Analysis of Cost-Effectiveness and Distributional Impacts of China’s Nationwide CO2 Emissions Trading System
- Author:
- Xianling Long, Da Zhang, Lawrence Goulder, and Chenfei Qu
- Publication Date:
- 03-2023
- Content Type:
- Special Report
- Institution:
- Asia Society
- Abstract:
- China introduced the world's largest emissions trading system in 2021 which is intended to help cost-effectively achieve its pledges of reaching a peak in CO2 emissions before 2030 and carbon neutrality before 2060. The system is a tradable performance standard (TPS) with a bottom-up intensity-based emissions cap, unlike a top-down absolute cap approach commonly used globally. General Equilibrium Analysis of Cost-Effectiveness and Distributional Impacts of China’s Nationwide CO2 Emissions Trading System developed and applied a multi-sector, multi-period general equilibrium model to assess the emissions, energy mix, and economic impacts of a series of options for the future development of this policy. These included cap-setting, benchmark design, auction design, and sectoral expansion, with valuable insights provided on the potential future evolution of this policy.
- Topic:
- Climate Change, Economy, Trade, and Carbon Emissions
- Political Geography:
- China and Asia
5. Countering Economic Coercion: Tools and Strategies for Collective Action
- Author:
- Wendy Cutler and Haeyoon Kim
- Publication Date:
- 03-2023
- Content Type:
- Special Report
- Institution:
- Asia Society
- Abstract:
- conomic coercion has become one of the most pressing and growing challenges on the international scene today, which has raised concerns about the potential damage to global economic growth, the rules-based trading system, and international security and stability. Compounding this issue is the difficulty faced by governments worldwide, particularly small and mid-sized nations, in effectively responding to such measures. In light of this challenge, Asia Society Policy Institute (ASPI) hosted an online discussion “Countering Economic Coercion: Tools and Strategies for Collective Action,” on February 28th moderated by Wendy Cutler, ASPI Vice President; and featuring Victor Cha, Senior Vice President for Asia and Korea Chair at the Center for Strategic and International Studies; Melanie Hart, Senior Advisor for China and the Indo-Pacific in the Office of the Under Secretary of State for Economic Growth, Energy, and the Environment; Ryuichi Funatsu, Director for Economic Security Policy Division at the Ministry of Foreign Affairs of Japan; and Mariko Togashi, Research Fellow for Japanese Security and Defense Policy at the International Institute for Strategic Studies.
- Topic:
- Economy, Economic Growth, Trade, and Coercion
- Political Geography:
- Asia
6. The Transition From an Intensity to an Absolute Emissions Cap in China’s National Emissions Trading System
- Author:
- Duan Maosheng
- Publication Date:
- 03-2023
- Content Type:
- Working Paper
- Institution:
- Asia Society
- Abstract:
- The unique characteristics of China's economic development and electricity marketization have resulted in the implementation of a bottom-up intensity-based emissions cap in China’s national emissions trading system (ETS) in its early stages. However, the efficacy of the bottom-up cap-setting approach remains controversial, particularly with regard to achieving emission reduction goals and cost-effectiveness. In response to China's "dual carbon" targets and updated Nationally Determined Contributions (NDC), China’s national ETS shall gradually shift towards a real cap-and-trade system, with a transition period when a hybrid system, which has an absolute control cap beside the intensity cap, is implemented. The Transition from an Intensity to an Absolute Emissions Cap in China’s National Emissions Trading System examines the cap-setting approaches used in ETSs in China, the underlying reasons for choosing intensity caps in China, and major issues related to the transition from an intensity cap to an absolute cap in China’s national ETS.
- Topic:
- Climate Change, Economy, Trade, and Carbon Emissions
- Political Geography:
- China and Asia
7. Economic and Environmental Impacts of China’s New Nationwide CO2 Emissions Trading System
- Author:
- Lawrence Goulder, Xianling Long, Chenfei Qu, and Da Zhang
- Publication Date:
- 05-2023
- Content Type:
- Working Paper
- Institution:
- Asia Society
- Abstract:
- China’s National Emissions Trading System (ETS) has already become the world’s largest ETS and is expected to contribute substantially toward meeting China’s pledge to peak its carbon emissions before 2030 and achieve carbon neutrality before 2060. The new system is based on a tradable performance standard (TPS), a rate-based system under which each covered facility receives from the government in each compliance period a certain number of emissions allowances based on its output and the government’s assigned “benchmark” ratio of emissions per unit of output. Economic and Environmental Impacts of China’s New Nationwide CO2 Emissions Trading System describes the results from a multi-sector multi-period general equilibrium model designed to assess the potential economic, energy mix, and emissions impacts of different future policy options under China’s National ETS over the period 2020–2035, by sector and province and in the aggregate
- Topic:
- Environment, Economy, Trade, and Carbon Emissions
- Political Geography:
- China and Asia
8. Chinese foreign policy in 2023: Stepping back from the brink
- Author:
- Thomas Eder
- Publication Date:
- 01-2023
- Content Type:
- Special Report
- Institution:
- Austrian Institute for International Affairs (OIIP)
- Abstract:
- When it comes to Chinese foreign policy in 2023, decision-makers in Austria and Europe have to most importantly consider three partly interrelated and highly topical questions that are and should be preoccupying China researchers. Will China escalate its support for Russia during the war in Ukraine? Will China invade Taiwan? How will China’s protest movement and exit from Zero-COVID impact foreign policy? Further trends in China research will address the need to employ digital methods due to a lack of access for fieldwork (COVID or political restrictions) (BCCN 2022), the importance of protests more broadly (labour issues or Hong Kong democracy) (Wei and Chan 2022; Cheng et al 2022), and the fragility of a centralized system around Xi Jinping with no succession plan as Xi enters his third term as president in March 2023 (Tsang and Cheung 2021). Following Russia’s full invasion of Ukraine, Beijing has supported Moscow in the informational and diplomatic domain, but has remained self-interested in the economic domain, and has not shifted from previous policies in the military domain (Chestnut Greitens 2022, 751). China needs Russia as a partner in mounting a (normative) challenge to US power and the liberal international order (Johnston 2022, 1307), gaining influence in multilateral institutions (Wang and Sampson 2022, 374), and preserving the Communist Party regime (Pavel, Kirchberger and Sinjen 2022, 295). The Chinese leadership would like to see a Russian victory, and dreads a defeatinduced regime collapse in Moscow (Lo 2022). Beijing has condemned the West for provoking the war and for imposing sanctions. In the UN, China abstained or voted for Russia. At the same time, since the beginning of the war, bilateral trade has grown significantly. Yet, Chinese companies and banks have partly withdrawn or broken off ties with Russian counterparts to steer clear of secondary sanctions. Moreover, while joint military exercises continue, there is no clear evidence for arms or equipment deliveries.
- Topic:
- Foreign Policy, Geopolitics, Economy, and COVID-19
- Political Geography:
- China and Asia
9. EIU Global Outlook—a summary of our latest global views
- Publication Date:
- 06-2023
- Content Type:
- Country Data and Maps
- Institution:
- Economist Intelligence Unit
- Abstract:
- No abstract is available.
- Topic:
- Economy, 5-year summary, and Forecast
- Political Geography:
- Europe, Asia, and Americas
10. Asia: Forecast summary
- Publication Date:
- 06-2023
- Content Type:
- Country Data and Maps
- Institution:
- Economist Intelligence Unit
- Abstract:
- No abstract is available.
- Topic:
- Economy, Background, Charts and tables, and Annual indicators
- Political Geography:
- Asia
11. EIU Global Outlook—a summary of our latest global views
- Publication Date:
- 06-2023
- Content Type:
- Country Data and Maps
- Institution:
- Economist Intelligence Unit
- Abstract:
- No abstract is available.
- Topic:
- Economy, 5-year summary, and Forecast
- Political Geography:
- Europe, Asia, and Americas
12. Asia: Forecast summary
- Publication Date:
- 06-2023
- Content Type:
- Country Data and Maps
- Institution:
- Economist Intelligence Unit
- Abstract:
- No abstract is available.
- Topic:
- Economy, Background, Charts and tables, and Annual indicators
- Political Geography:
- Asia
13. Asia: Country fact sheet
- Publication Date:
- 06-2023
- Content Type:
- Country Data and Maps
- Institution:
- Economist Intelligence Unit
- Abstract:
- No abstract is available.
- Topic:
- Summary, Economy, Background, and Fact sheet
- Political Geography:
- Asia
14. China in Sub-Saharan Africa: Reaching far beyond natural resources
- Author:
- Amin Mohseni-Cheraghlou and Naomi Aladekoba
- Publication Date:
- 03-2023
- Content Type:
- Policy Brief
- Institution:
- Atlantic Council
- Abstract:
- This work empirically examines China’s growing footprint in Sub-Saharan Africa’s investment, trade, cultural, and security landscape over the past two decades. It highlights China’s increasing appetite for Sub-Saharan Africa’s natural resources and growing young labor force—identifying the region’s consumer market as an important destination for Chinese goods and services over the next few decades. The analysis identifies more than 600 Chinese investments and construction contracts in Sub-Saharan Africa (SSA), valued at over $303 billion, signed between 2006 and 2020. Four sectors attract 87 percent of China’s investment and construction in the region: energy at 34 percent; transport, 29 precent; metals, 13 percent; and real estate, 11 percent. This is very similar to the Middle East and North Africa Region, where the energy sector attracts close to 50 percent of China’s investment, followed by transport, 19 percent; real estate, 15 percent; and metals, 6 percent. In terms of trade, this work shows that between 2001 and 2020, China’s merchandise trade with the region increased by a whopping 1,864 percent—surpassing SSA’s trade with both the United States and the European Union. In other words, from 2001 to 2020, China’s share in total merchandise trade in SSA rose from 4 percent to 25.6 percent, while during the same period, the shares of the United States and the EU in SSA’s total trade declined by 10 percentage points and 8 percentage points, respectively. The report also takes a look at China’s arms trade with the region. Twenty-two percent of SSA’s arms imports are sourced from China, making China the region’s second-largest supplier of arms and military equipment, with Russia in the lead (24 percent). Finally, the report highlights the fact that the size of Chinese migrants in Africa is estimated at one to two million, with around one million permanently residing in the region. The largest numbers are in Ghana, South Africa, Madagascar, Zambia, and the Democratic Republic of the Congo.This work is the first in a series of empirical analyses that will be conducted on China’s presence in developing economies and low-income countries.
- Topic:
- Natural Resources, Economy, Business, Economic Growth, Macroeconomics, Trade, and Inclusion
- Political Geography:
- Africa, China, Asia, and Sub-Saharan Africa
15. United States–China semiconductor standoff: A supply chain under stress
- Author:
- Jeremy Mark and Dexter Tiff Roberts
- Publication Date:
- 02-2023
- Content Type:
- Working Paper
- Institution:
- Atlantic Council
- Abstract:
- In August 2022, the US Congress passed the CHIPS and Science Act, a law that approves subsidies and tax breaks to help jump-start the renewed production on American soil of advanced semiconductors.1 Just two months later, the Joe Biden administration issued wide-ranging restrictions on the export to China of chips and chip-making technology to undercut that country’s ability to manufacture the same class of integrated circuits.2 Taken together with a steady stream of Biden administration prohibitions on technology sales to key Chinese companies, the US initiatives represent a profound turn toward competition with China in the high-tech realm.3 They also highlight an effort to restructure the complex, multinational supply chains centered on East Asia that manufacture hundreds of billions of dollars of semiconductors a year. As such, the Biden administration has set in motion a process that could alter the business strategies—and fortunes—of homegrown and foreign-invested semiconductor companies based in China, world-leading chipmakers in Taiwan and South Korea, and suppliers around the world that provide the industry with the machinery and myriad inputs that fuel chip production. The Biden administration insists that its restrictions on sales to China are intended only to limit China’s ability to produce the cutting-edge chips that can feed into the development of weapons and other strategically important technologies—and not to cripple its semiconductor industry. But the current state of play of sanctions and support for US-based semiconductor production, including by Taiwanese and Korean chipmakers, is not the endpoint in this process. Rather, the momentum to constrain Beijing’s semiconductor program is likely to continue in the coming months, at the very least with additional restrictions on Chinese companies and government-linked entities, and unprecedented bureaucratic scrutiny of American venture-capital and equity-financing flows to China. That amounts to more bad news for corporate leaders in Asia, North America, and Europe who have spent the past generation building a globe-spanning semiconductor industry that has faced few barriers to expansion. As US restrictions mount, and sales of certain technologies to China flag, the once-unimaginable process of reorienting semiconductor supply chains will become an ever-present reality. The CHIPS and Science Act already is becoming an important factor in corporate strategy, providing incentives for Taiwanese, Korean, and American companies to make big bets on new factories in places like New York, Ohio, Texas, and Arizona—witness Taiwan Semiconductor Manufacturing Company’s (TSMC’s) recent decision to build a second factory in Phoenix.4 This paper explores the potential implications of US semiconductor policy for the global semiconductor supply chains and the competition for primacy in an industry that is constantly changing the face of the global economy and one that has implications for global security in all its dimensions. It begins by examining the policies put in place by the Biden administration, and then discusses the changes taking place across the industry, with a focus on Asia.
- Topic:
- Economy, Business, Supply Chains, Semiconductors, and Economic Competition
- Political Geography:
- China, Asia, North America, and United States of America
16. China and the new globalization
- Author:
- Franklin D. Kramer
- Publication Date:
- 01-2023
- Content Type:
- Special Report
- Institution:
- Atlantic Council
- Abstract:
- The unitary globalized economy no longer exists. Driven in significant part by security considerations, a new and more diverse globalization is both required and being built. The transition is ongoing, and its final form is yet to be determined. Many of the causal factors for this very significant change revolve around China and the consequent responses to its actions by the United States, other democracies of the transatlantic alliance, and the advanced democratic economies of the Indo-Pacific. There are other important factors generating this new globalization including the impact of the Russia-Ukraine war both on energy markets and on trade and investment with Russia generally, as well as the global requirements for mitigating and adapting to climate change. However, China has been a critical element in what might be described as the “maximum trade-centered globalization,” which has dominated trade and investment policy in the three decades since the end of the Cold War. This issue brief describes the still-developing new globalization focusing on the issues surrounding China. A fundamental challenge that China presents arises because its actions have generated significant security and economic challenges, yet it nonetheless is a massive trade and investment partner for the “advanced democratic economies” (ADEs),1 which for purposes of this analysis include the Group of Seven (G7) countries,2 plus Australia, Norway, the Republic of Korea, and the European Union. Adapting to a new globalization requires establishing a strategic approach that resolves the inherent contradictions between those conflicting considerations.
- Topic:
- Security, Defense Policy, Diplomacy, Environment, Politics, Science and Technology, Economy, Business, and Energy
- Political Geography:
- China, Europe, Eurasia, Canada, Asia, United States of America, and Indo-Pacific
17. Building a Coalition - the U.S. Faces Down Competition with China in the Chip Sector
- Author:
- Damian Wnukowski
- Publication Date:
- 04-2023
- Content Type:
- Working Paper
- Institution:
- The Polish Institute of International Affairs
- Abstract:
- In recent months, the U.S. has intensified its international efforts to limit China’s ability to produce the most advanced chips. The result includes the introduction by Japan and the Netherlands of restrictions on the export of modern machines for chip production. In response, China is trying to attract foreign investment and develop its own potential in this sector. The U.S. actions may significantly slow the pace of China’s technological development and economic growth and limit its potential to further strengthen its military capabilities. This may make it difficult for China to support Russia with dual-use products and render possible offensive actions against Taiwan harder.
- Topic:
- Economy, Production, Semiconductors, and Competition
- Political Geography:
- China, Asia, North America, and United States of America
18. Global trends in countries‘ perceptions of the Belt and Road Initiative
- Author:
- Alicia Garcia-Herrero and Robin Schindowski
- Publication Date:
- 04-2023
- Content Type:
- Working Paper
- Institution:
- Bruegel
- Abstract:
- Drawing on global media reports, we conduct a sentiment analysis of the image of China’s Belt and Road Initiative (BRI) and the evolution of its image over time. Our main finding is that perceptions of the initiative deteriorated significantly in many geographies from 2017 to 2022. The notable exception is in sub-Saharan Africa where the BRI’s image remains positive, even if slightly less so than in the past. This is notwithstanding increases in debt levels with China, much of which now face potential restructuring. Furthermore, we find significant inter- and intra-regional differences in the average sentiment towards China’s landmark project, as well as a much worse image of the initiative in countries which, until today, are not part of the BRI. Finally, we focus on the European Union, Africa and China’s immediate neighbourhood to better understand the complexities behind the perceived benefits and challenges associated with China’s Belt and Road Initiative.
- Topic:
- Bilateral Relations, European Union, Geopolitics, Economy, and Trade
- Political Geography:
- China, Europe, and Asia
19. Course Correction: Charting a More Effective Approach to U.S.-China Trade
- Author:
- Clark Packard and Scott Lincicome
- Publication Date:
- 05-2023
- Content Type:
- Policy Brief
- Institution:
- The Cato Institute
- Abstract:
- Over the past several years the U.S.-China economic relationship has soured and become subordinated to broader concerns about national security and geopolitics. After a decades‐long reform agenda in China that lifted hundreds of millions out of grinding poverty, Chinese president Xi Jinping has increasingly turned inward—reembracing Maoist socialism and heavy‐handed central planning. Washington’s response to these worrisome developments has been reflexively hawkish economically, scattershot, and woefully inadequate for the economic challenge that China presents.
- Topic:
- National Security, Bilateral Relations, Economy, and Trade
- Political Geography:
- China, Asia, North America, and United States of America
20. Southeast Asia Aid Map - Key Findings Report
- Author:
- Alexandre Dayant, Grace Stanhope, and Roland Rajah
- Publication Date:
- 06-2023
- Content Type:
- Commentary and Analysis
- Institution:
- Lowy Institute for International Policy
- Abstract:
- Official development finance plays an important role in financing Southeast Asia’s development, equivalent to around 10% of total government development spending in the region. China is Southeast Asia’s single largest development partner and leads infrastructure financing. Yet, implementation problems have seen the scale of China’s financing decline in recent years. Traditional development partners collectively still dominate development financing in Southeast Asia at 80% of the total. The multilateral development banks lead the way, followed by Japan, Europe, and South Korea. The United States and Australia are mid-sized players. India and the Middle East have become notable sources of non-traditional development finance, with the Islamic Development Bank playing an important role. Climate development finance is increasing, but Southeast Asia will need more support if it is to transition towards resilient, low-carbon development. Intraregional development cooperation is growing, but only makes up a small part of development finance in Southeast Asia.
- Topic:
- Climate Change, Development, Humanitarian Aid, Finance, and Economy
- Political Geography:
- Asia and Southeast Asia