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  • Author: Roderick Abbott
  • Publication Date: 07-2008
  • Content Type: Policy Brief
  • Institution: Chatham House
  • Abstract: In an important shift, inspired partly by drift in the Doha Round negotiations, the EU announced in 2006 that it would seek new free trade area arrangements with fast-growing economies, particularly in Asia. The plan, which ended a moratorium on the launch of bilateral trade talks, in place since 1996, was billed explicitly as a contribution to the EU's own growth and jobs strategy as well as a market-opening exercise. However, the policy has so far been no more effective than multilateral negotiations in producing concrete results. Negotiations with South Korea and ASEAN have made only slow progress, while the state of talks with India remains unclear. The EU spent most of 2007 renegotiating long-standing agreements with African, Caribbean and Pacific (ACP) countries in an effort to satisfy WTO rules. Meanwhile, the EU's partnership agreements with China and Russia have expired, and appropriate successor arrangements are still being sought. In both cases, a number of important bilateral problems and strains will need to be dealt with. With its various trade negotiations treading water, the EU may need to review its options. One could be a more aggressive pursuit of market access, modelled on the US approach. Alternatively, the EU's traditional preference for multilateral engagement may reassert itself.
  • Topic: International Trade and Finance
  • Political Geography: Africa, Russia, China, Europe, Asia, South Korea, Caribbean
  • Author: Karine Lisbonne-de Vergeron
  • Publication Date: 11-2007
  • Content Type: Working Paper
  • Institution: Chatham House
  • Abstract: Undoubtedly, the Chinese currently think of Europe, and of the European Union, primarily in economic terms. Since 2004, the EU has been China's first trading partner, accounting for 15% of its overall external trade in 2006, with a bilateral increase of 25% from 2005. Overall, bilateral trade between China and the EU has increased more than sixty-fold since 1978 to reach nearly €255 billion in 2006. In return, China is the EU's second largest trading partner, after the United States, and in 2006 became the largest source of EU imports, amounting to approximately €192 billion, or 14.4% of the total, a 21% increase from 2005. Over the same period, EU exports to China increased by 23% to approximately €63 billion.
  • Topic: Civil Society, International Political Economy, International Trade and Finance
  • Political Geography: United States, China, Europe, Asia
  • Author: Bernice Lee, Antony Froggatt
  • Publication Date: 11-2007
  • Content Type: Working Paper
  • Institution: Chatham House
  • Abstract: We are on the cusp of a new industrial revolution, one driven by energy and climate security concerns. Policy-makers and business leaders are beginning to calibrate decisions on trade, financing and production planning against this new reality. Central to making this vision work is enlightened thinking around the potential economic and political benefits–rather than the costs–of the transition to a low-carbon future.
  • Topic: Security, Climate Change, Environment
  • Political Geography: China, Europe, Asia
  • Author: Charu Lata Hogg
  • Publication Date: 11-2007
  • Content Type: Working Paper
  • Institution: Chatham House
  • Abstract: Until a decade ago, India was regarded largely as a poor developing country with low visibility on the global political and economic front. A multitude of factors, most prominently its emerging global economic strength, have led India not only to redefine its self-image but also to adopt a new political role both internationally and within its immediate neighbourhood.
  • Topic: Economics, International Political Economy, International Trade and Finance, Regional Cooperation
  • Political Geography: China, South Asia, India, Asia
  • Author: Simon Collinson, Bridgette Sullivan-Taylor
  • Publication Date: 12-2007
  • Content Type: Journal Article
  • Journal: The World Today
  • Institution: Chatham House
  • Abstract: IN THE 1970S AND 1980S THERE WAS a widespread fear in the west of Japanese economic superiority. Unprecedented growth in its gross domestic product (GDP), exports and outward foreign direct investment suggested an alternative model of market capitalism that was out-performing the United States and European economies. High-profile articles and books fed this fear and research efforts tried to identify what was different about Japan and how such differences might convey sustained competitive advantages.
  • Political Geography: United States, Japan, China
  • Author: Mike Smith, Nicholas Khoo
  • Publication Date: 06-2001
  • Content Type: Policy Brief
  • Institution: Chatham House
  • Abstract: Since the end of the Second World War, US foreign policy towards the Asia-Pacific has been characterized by the assertion of American dominance. To this end, policy-makers in Washington have adopted a varied policy towards China. From 1950 to 1972, the US pursued a containment policy designed to thwart the revolutionary goals of Maoist foreign policy. Beginning with Nixon's rapprochement with Beijing in 1972, US policy was dramatically altered to meet the overriding goal of deterring the Soviet threat. The US and China actively cooperated to contain Soviet and Vietnamese influence in Northeast and Southeast Asia. The end of the Cold War, preceded shortly before by the Tiananmen massacre, saw another shift in the US position, whereby China was no longer looked upon with favour in Washington. Acting on his presidential campaign promises not to repeat George Bush Senior's policy of 'coddling dictators'in Beijing, President Clinton initially enacted a policy that explicitly linked China's human rights record to the renewal of most favoured- nation trade status with the US. When this linkage failed, a striking policy reversal occurred as the Clinton administration adopted an unrestrained engagement policy in which it eventually underplayed Sino-US differences in the spheres of trade, human rights, and strategic-military ties.
  • Topic: Security, Foreign Policy
  • Political Geography: United States, China, America, Washington, Beijing, Asia
  • Author: Chen Yixin
  • Publication Date: 01-2000
  • Content Type: Policy Brief
  • Institution: Chatham House
  • Abstract: Recent years have seen increasing liberalization of trade in financial services associated with the GATT / WTO negotiations. The Agreement concluded on 13 December 1997 by 70 WTO members will result in a significant impact on the financial services sector for these members. Although China has not yet been admitted to membership of the WTO, it has come under pressure to open its financial services market. Market access in this sector has been not only one of the major issues in its WTO accession talks, but also intrinsically linked to China's ongoing domestic financial system reforms, consistent with the gradualist scheme for its overall economic reform. China has been liberalizing its financial services sector, but only gradually. This paper outlines the reforms in its financial sector since 1979, and then offers an explanation for the slow speed of reform .
  • Topic: Economics, International Trade and Finance
  • Political Geography: China, Shanghai
  • Author: Christiaan Vrolijk
  • Publication Date: 04-1999
  • Content Type: Policy Brief
  • Institution: Chatham House
  • Abstract: The Kyoto Protocol agreed in December 1997 was a landmark, but not an end point. Negotiations are on going to fill in the gaps left in the Protocol. From 2 to 14 November the Conference of Parties met again to follow up on Kyoto in its fourth session (COP-4) in Buenos Aires. After the media hype of the Japan meeting, the lack of news coverage was not entirely deserved. Although discussions had to focus on filling in the details in the framework of the Kyoto Protocol, these details will determine just how big a step Kyoto was The Framework Convention on Climate Change (FCCC) was negotiated at the \'Earth Summit\' in Rio de Janeiro in 1992 and has entered into force in 1994. Under the Convention the Parties have committed themselves to stabilize greenhouse gas concentrations \'at a level that would prevent dangerous anthropogenic interference with the climate system\'. The headline commitment for the countries listed in Annex I of the Convention, the industrialized countries, is to return greenhouse gas emissions to 1990 levels, and to show a reversal in the trend of growing emissions before the year 2000. The Conference of Parties meets annually as the supreme body of the Convention, dealing with various issues related to it. The Kyoto Protocol, negotiated at COP-3 in Japan, is a Protocol to the FCCC, and as such was also on the negotiating table of the COP in Argentina. It sets out renewed, and now legally binding, emission reduction commitments for the Annex B Parties (the industrialized and former COMECON countries). The overall commitments add up to a 5% reduction from 1990 in a basket of greenhouse gases, including carbon dioxide, methane, nitrous oxide, some industrial gases (HFCs, PFCs, SF6) and emissions and removals from land-use change and forestry (LUCF). After its entry into force, the Meeting of Parties (to the Kyoto Protocol) will take over the responsibility for the Protocol issues Many Annex B Parties that have taken up commitments under the Kyoto Protocol stressed the importance at working on the rules for the mechanisms of the Protocol. The EU also stressed the need for limits on the use of these mechanisms and a compliance regime. The G77/China stressed the importance of a debate on the adverse effects and impact of responses. One of the commentators said that Article 17 on international emissions trading \'contains the basic principles, but its main feature is the fact that it can be interpreted to anyone\'s liking\'. Many articles leave room for further work by the COP. Even if the text was not deliberately ambiguous, only general principles were described, so that the 170 Parties at the negotiations could reach agreement, with a later COP to decide on the details of the issue This paper will first briefly discuss the science of climate change and then consider the Buenos Aires Plan of Action and the most important individual issues of the conference.
  • Topic: Environment, International Cooperation, Science and Technology
  • Political Geography: China
  • Author: Keun-Wook Paik, Jae-Yong Choi
  • Publication Date: 01-1998
  • Content Type: Policy Brief
  • Institution: Chatham House
  • Abstract: The lack of indigenous oil and gas resources in Northeast Asia is a real obstacle to the region's economic development, and the region has paid the price. The importance of the introduction of pipeline gas into Northeast Asia lies not only in diversifying supply sources but also in providing price leverage for the region's consumers. Despite many implementation problems, the Sino-Russian agreement on East Siberian gas and pipeline development laid a firm basis for the introduction of pipeline gas into the region, and this could fundamentally affect the region's energy supply balance in the coming decades. The introduction of pipeline gas will open a new era of multilateral cooperation in the region. It is now no longer a matter of whether but when and how this gas will be introduced. Northeast Asia — comprising China, Russian Asia (Siberia and the Far East), Korea and Japan — forms the world's biggest market for liquefied natural gas (LNG). Out of world trade totalling just over 100 bcm in 1996, 63.8 bcm was imported by Japan and 13 bcm by Korea, together representing 75% of the world total. Given that China is set to import both LNG and pipeline gas in the next decade, there will be further rapid growth in the region's demand for gas. Many questions about the scale of expansion, the introduction of pipeline gas as a part of the expansion, the role of natural gas in power generation, and the establishment of multilateral cooperation for the pipeline development remain unresolved. Nevertheless, recent announcements by CNPC (China National Petroleum Corporation) of two contracts signed with the Kazakstan government for the development of oilfields for transport via pipeline to western China are a strong signal that the Northeast Asian region is set to witness the introduction of long-distance pipeline oil. In the longer term, these developments may be eclipsed by the development of pipeline gas. This paper briefly reviews the potential gas and oil supply sources to the Northeast Asian region and recent developments, together with the problems that need to be tackled for early implementation of pipeline gas. After presenting the results of a unique survey on the views of both Japanese and Korean companies on the Northeast Asian natural gas market and the development of long-distance pipelines, the paper discusses the implications of such developments.
  • Topic: Development, Energy Policy
  • Political Geography: Japan, China, East Asia, Northeast Asia