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  • Author: Selçuk Çolakoglu, Arzu Güler
  • Publication Date: 01-2011
  • Content Type: Policy Brief
  • Institution: International Strategic Research Organization (USAK)
  • Abstract: In the pre-1971 period, "One China" for Turkey was the Republic of China in Taiwan and the two countries were in cooperation against communist expansion. However, in 1971, though being reluctant for the expulsion of Taiwan from the United Nations, Turkey recognized People's Republic of China as the sole legal representative of China and pursued the "One China" policy in that respect. Thus, in the post-1971 period, Turkey's relations with Taiwan have continued only in terms of economy, trade and culture without recognizing it as an independent political unit. Beginning from early 1990s, Turkey began to take initiatives to increase its trade cooperation with Taiwan.
  • Topic: Foreign Policy, Economics, International Trade and Finance, Bilateral Relations, Culture
  • Political Geography: China, Turkey, Taiwan, Asia, United Nations
  • Author: Dieter Ernst
  • Publication Date: 08-2011
  • Content Type: Policy Brief
  • Institution: Institute on Global Conflict and Cooperation, University of California
  • Abstract: China\'s innovation policy and its perceived threat to American innovation and competitiveness is a hot topic in U.S.-China economic relations. The role of standardization, together with intellectual property rights and government procurement, are at the center of this conflict. Fundamental differences in their levels of development and economic institutions lead to quite different approaches to standards and innovation policy by the two countries. China\'s strategy of pursuing indigenous innovation based on local standards faces internal challenges in trying to bring together a diverse group of stakeholders with conflicting interests, as well as external pressures to adopt international standards. Enhanced cooperation on standards and innovation policies should be possible, once the United States and China accept that, while their economic and innovation systems are different, they are deeply interdependent. Both sides would benefit, creating new Chinese markets for American firms and easing technology licensing restrictions for Chinese firms.
  • Topic: Economics, International Trade and Finance, Science and Technology, Bilateral Relations
  • Political Geography: United States, China, America, Asia, North America
  • Author: Nicholas R. Lardy
  • Publication Date: 03-2010
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: China's policy response to the global financial and economic crisis was early, large, and well-designed. Although Chinese financial institutions had little exposure to the toxic financial assets that brought down many large Western investment banks and other financial firms, China's leadership recognized that its dependence on exports meant that it was acutely vulnerable to a global recession. Thus they did not subscribe to the view sometimes described as “decoupling,” the idea that Asian countries could passively weather the financial storm that originated in the United States and other advanced industrial economies. They understood that absent a vigorous policy response China inevitably would suffer from the backwash of a sharp economic slowdown in its largest export markets—the United States and Europe.
  • Topic: Economics, Financial Crisis
  • Political Geography: United States, China, Europe, Asia
  • Publication Date: 08-2010
  • Content Type: Policy Brief
  • Institution: International Crisis Group
  • Abstract: The two sentiments that define the political impasse in Papua are frustration on the part of many Papuans that “special autonomy” has meant so little, and exasperation on the part of many Indonesian government officials that Papuans are not satisfied with what they have been given. The gulf between the two might be reduced by dialogue, but any prospect of serious talks is hampered by an un-willingness of Jakarta to treat the problem as essentially a political, rather than an economic one. To move forward, President Susilo Bambang Yudhoyono needs personally to take the lead in recognising that autonomy means more than increased budgetary allocations or accelerated economic development. He needs to explore directly with credible Papuan leaders how political autonomy can be expanded; affirmative action policies strengthened in all sectors; and Papuan fears about in-migration addressed. Unless these three issues are tackled head on in face-to-face meetings, the impasse is unlikely to be broken and increased radicalisation is likely.
  • Topic: Diplomacy, Economics, Treaties and Agreements, Territorial Disputes
  • Political Geography: Indonesia, Asia
  • Author: Khalid Koser
  • Publication Date: 09-2010
  • Content Type: Policy Brief
  • Institution: The Geneva Centre for Security Policy
  • Abstract: Economic and financial crises have always impacted on international migration patterns, processes, and policies. The Great Depression (1929- 33) resulted in massive repatriations of Latin Americans from the United States and the introduction of highly restrictive immigration policies in a number of industrialized countries, including France and Canada. The Oil Crisis (1973) resulted in severe restrictions on labour migration, a concomitant growth in asylum applications and irregular migration in Europe, and the emergence of new flows of labour migration to emerging industrial centres in Asia and Latin America. As a result of the Asian financial crisis (1997-99) several South-East Asian countries introduced policies of national preference and sought to expel migrant workers. The Russian financial crisis (1998) accelerated rates of emigration from Russia, in particular of Russian Jews and the highly-skilled. The gravity of the Latin American financial crisis (1998- 2002) also resulted in a significant exodus, in particular from Argentina.
  • Topic: Economics, Migration, Global Recession, Financial Crisis
  • Political Geography: Russia, Asia, Latin America
  • Author: Tai Ming Cheung
  • Publication Date: 09-2010
  • Content Type: Policy Brief
  • Institution: Institute on Global Conflict and Cooperation, University of California
  • Abstract: Since the beginning of the twenty-first century, China's defense science, technology, and innovation (DSTI) system has been vigorously developing a comprehensive set of innovation capabilities that will eventually allow it to join the world's top tier of military technological powers. Ample access to financial, human, and research resources; strong political support; inflows of foreign technologies and know-how; and the introduction of advanced modes of governance, market competition, and management are producing significant progress, although from a low base. But long-term success is far from assured as daunting structural bottlenecks stand in the way, not the least of which is the struggle to overcome a long history of debilitating Socialist central planning.
  • Topic: Defense Policy, Economics, Markets, Science and Technology, Governance
  • Political Geography: China, Asia
  • Author: James Mulvenon, Matthew Luce
  • Publication Date: 09-2010
  • Content Type: Policy Brief
  • Institution: Institute on Global Conflict and Cooperation, University of California
  • Abstract: Contrary to popular perceptions of China as either "technology thief" or "technology superpower," the success of the Chinese defense electronics sector can be attributed to a combination of indigenous innovation, adaptation of foreign technology, and large-scale technology espionage. Advanced defense electronics components and systems play a key role in this revolution in military capability, making it imperative to understand the strengths and weaknesses of the Chinese defense electronics industry and their implications for U.S. interests in the region.
  • Topic: Economics, Science and Technology, Military Strategy
  • Political Geography: United States, China, Asia
  • Author: Jing-dong Yuan
  • Publication Date: 09-2010
  • Content Type: Policy Brief
  • Institution: Institute on Global Conflict and Cooperation, University of California
  • Abstract: China's nuclear industry has undergone rapid growth in recent years and is projected to further expand in the coming decades. Accounting for almost 40 percent of all nuclear reactors either under construction or that have been approved globally, the expansion of China's nuclear capacities has largely been driven by increasing demands for energy to support continued economic growth. Constraints include human resources, fuel supply, and the extent to which China can develop indigenous nuclear power capacities. The role of civil-military integration in this industry is yet to be determined partly as a result of the deliberate decision by Beijing to keep its nuclear weapons segment separate from its civilian operations.
  • Topic: Economics, Nuclear Weapons, Nuclear Power
  • Political Geography: China, Asia
  • Author: Chung-in Moon, Jae-Ok Paek
  • Publication Date: 09-2010
  • Content Type: Policy Brief
  • Institution: Institute on Global Conflict and Cooperation, University of California
  • Abstract: South Korea's defense industrial transformation has been impressive by any standard. It was able to satisfy most of its basic weapons needs within a decade after launching its defense industry. Since the late 1990s, South Korea has been elevated from a third-tier arms producer to the second tier by moving from the stage of imitation and assembly to that of creative imitation and indigenization. It now competes with major arms-supplying countries. In addition, the South Korean defense industry has made remarkable progress in RMA-related areas mostly involving command, control, communication, intelligence, reconnaissance, and surveillance. In this policy brief, we first assess South Korea's defense industrial performance by examining the patterns of defense acquisition, rate of localization of defense materiel, and defense exports. We then briefly analyze the evolutionary dynamics of defense industrial upgrades in selected sectors by tracing the stages of innovation. We also delineate a set of institutional and policy arrangements that have contributed to this impressive transformation.
  • Topic: Security, Defense Policy, Arms Control and Proliferation, Economics
  • Political Geography: Asia, South Korea
  • Author: May-Britt U. Stumbaum, Oliver Bräuner
  • Publication Date: 09-2010
  • Content Type: Policy Brief
  • Institution: Institute on Global Conflict and Cooperation, University of California
  • Abstract: In line with the European policy of supporting China\'s economic reform and development, research institutes and companies in the European Union (EU) have been the major sources for high-technology exports to the People\'s Republic of China in the past thirty years. Dual-use technologies ranging from aerospace to semiconductors play a central role for economic development as well as for modern military development, including network-centric warfare. Yet a comprehensive EU paradigm on China\'s military rise and the impact of these technology transfers has not evolved. The EU–China "strategic partnership" is still dominated by economic considerations. Lack of coordination between the national and the European level contribute to the risks accompanying EU–China collaboration in this field. The differences between EU and U.S. perceptions of China\'s military rise provide potential for further Transatlantic discord, as happened during the acrimonious debate on the intended lifting of the EU arms embargo on China in 2004–2005.
  • Topic: Economics, International Cooperation, Science and Technology, Military Strategy
  • Political Geography: China, Europe, Asia
  • Author: C. Randall Henning
  • Publication Date: 02-2009
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: In September 1997, at the outset of the last global financial crisis, the Japanese Ministry of Finance proposed the creation of an Asian Monetary Fund. Although this particular proposal was scuttled, the idea of a common regional fund on which East Asian governments might draw in times of financial turmoil survives. The region's disaffection from the International Monetary Fund (IMF), stemming from the 1997–98 crisis, sustains this idea and a desire on the part of individual countries to self-insure with large holdings of foreign exchange reserves. East Asian governments and central banks have created a set of bilateral swap arrangements (BSAs) dubbed the Chiang Mai Initiative (CMI) and are negotiating among themselves to build these BSAs into a more comprehensive facility. Some Asian officials hope that such a facility could underpin exchange rate cooperation and monetary integration in the region, although such proposals remain for the moment long-term visions.
  • Topic: Economics, International Cooperation, International Trade and Finance, Regional Cooperation, Financial Crisis
  • Political Geography: Japan, Israel, Asia
  • Author: Christine Lynch, Devon Tucker, Michael Harvey, Jacqueline McLaren Miller
  • Publication Date: 02-2009
  • Content Type: Policy Brief
  • Institution: EastWest Institute
  • Abstract: Drawing on a diverse array of opinions from Africa, Asia, Europe, and North America, the EastWest Institute's Fifth Worldwide Security Conference brought together specialists from the spheres of policy, academia, and civil society. Participants addressed a variety of issues on the contemporary global security landscape. These ranged from specific security threats (whether illicit trade, the targeting of critical infrastructure or cyber crime) to the role of interested actors (such as business, NGOs, and media), as well as a focus on potential strategies to counter terrorism and extremism (either in terms of constructing global cooperative architectures or, more controversially, the possibility of opening dialogue with the terrorists). A variety of policy recommendations emerged from each session—detailed in the main body of the report—but there were several recurring themes binding the debate together and animating the core arguments of proceedings as a whole. These policy recommendations were not necessarily consensus recommendations but reflected a wide range of debated policy prescriptions.
  • Topic: International Relations, Security, Economics, Education, Globalization, Human Rights, International Security, Political Theory
  • Political Geography: Africa, Europe, Asia, North America
  • Author: Kerry Brown
  • Publication Date: 03-2009
  • Content Type: Policy Brief
  • Institution: Chatham House
  • Abstract: Over the last two decades, as Mainland China has been developing and liberalizing its economy, Taiwan has been undergoing an equally remarkable but very different political transformation, from martial law in 1987 to its current status as one of the most vibrant, stable democracies in Asia. Despite its eventful experience of the democratization process, the parliamentary and presidential elections in 2008 proved that Taiwan is now a mature, and stable, democracy. It has passed the ultimate test, seeing the successful transition of rule from one party to another and back again, without social turmoil. Economic performance over the same period has been less striking. Once among the fastestgrowing economies, Taiwan is now afflicted by a relatively low growth rate, and problems over the outflow of capital and investment to the Mainland. The potential for conflict over cross-straits relations remains but it has been significantly reduced under President Ma and by the Mainland Chinese government's greater accommodation with a democratic Taiwan in the last decade. The risk of a military conflict between the two sides, which could drag in the US, and therefore the rest of the world, cannot be entirely discounted, however. Taiwan's greatest challenges in the next decade remain the same as in the last – to maintain its identity, to develop its democratic system, and to handle relations with the Mainland in a way that preserves its interests while avoiding conflict. Taiwan's system, which has so far proved itself robust and effective, faces a new challenge too: how to benefit from the increase in Mainland investment abroad.
  • Topic: Democratization, Economics, Markets
  • Political Geography: United States, China, Israel, Taiwan, Asia
  • Author: Robert Gutierrez, Patricia Chow, Jason Baumgartner, Yuriko Sato
  • Publication Date: 05-2009
  • Content Type: Policy Brief
  • Institution: Institute of International Education
  • Abstract: IIE Open Doors Data on U.S. International Educational Exchange. Project Atlas: Global Student Mobility. International Student Economic Impact in the U.S. Comparison of International Student Economic Impact in USA, Japan and Australia.
  • Topic: Foreign Policy, Economics, Markets, Migration
  • Political Geography: United States, Japan, China, Asia, California, Australia, Texas
  • Author: Mohsin S. Khan
  • Publication Date: 07-2009
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: Many previous attempts to improve economic ties between India and Pakistan unfortunately have been derailed by periodically heightened political tensions between the two countries—be it Kargil in May 1999, the terrorist attack on the Indian Parliament in December 2001, or most recently, the Mumbai attacks in November 2008. Although successive Indian and Pakistani governments have often repeated the desire for peaceful relations, reaching a comprehensive agree ment that settles outstanding disputes still seems far off. But this does not mean that steps toward better economic relations cannot be taken. Indeed, there was a major breakthrough in trade relations at the meeting between then President Pervez Musharraf of Pakistan and Prime Minister Manmohan Singh of India in New Delhi in April 2005 (Joint Communiqué 2005). A number of trade-related issues were discussed at this meeting, and several key decisions were taken to move the process along.
  • Topic: Economics, Peace Studies, Bilateral Relations
  • Political Geography: Pakistan, South Asia, Asia, New Delhi
  • Author: Daniel H. Rosen, Thilo Hanemann
  • Publication Date: 06-2009
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: In 1967 Jean-Jacques Servan-Schreiber published Le defi americain, a call to beware of American multinationals buying up the world. In the 1980s and 1990s it was Japan's turn, spawning books like Clyde Prestowitz's 1993 Trading Places: How We Are Giving Our Future to Japan. Today it is China's outbound foreign direct investment (OFDI) that elicits the most anxiety China's OFDI has reached commercially and geoeconomically significant levels and begun to challenge international investment norms and affect international relations.
  • Topic: International Relations, Economics, International Trade and Finance, Foreign Direct Investment
  • Political Geography: China, America, Asia
  • Author: Peter McCawley
  • Publication Date: 06-2009
  • Content Type: Policy Brief
  • Institution: Lowy Institute for International Policy
  • Abstract: What is the problem? In addition to the current Global Financial Crisis (GFC), there is a second global crisis: long-term mass poverty in the third world. While the rich world worries about a repeat of the Great Depression, today more than a billion people in Asia live in conditions of bitter poverty which are much worse than those of the 1930s. As a result of the GFC, poverty in developing Asia is now likely to increase.
  • Topic: Development, Economics, Poverty, Financial Crisis
  • Political Geography: Asia
  • Author: Michael Pettis
  • Publication Date: 11-2009
  • Content Type: Policy Brief
  • Institution: Carnegie Endowment for International Peace
  • Abstract: In September, the Obama administration imposed tariffs on Chinese tires. In October, the U.S. Department of Commerce announced it would launch an investigation into imports of seamless steel pipes from China. That same month, the U.S. Chamber of Commerce and the U.S.–China Business Council, two groups that in the past have defended Chinese policies, testified to the Office of the U.S. Trade Representative that Chinese contracting rules, technical standards, and licensing requirements were protectionist.
  • Topic: Economics, Globalization, Foreign Direct Investment, Financial Crisis
  • Political Geography: China, Middle East, Asia
  • Author: Gert Bruche
  • Publication Date: 04-2009
  • Content Type: Policy Brief
  • Institution: Columbia Center on Sustainable Investment
  • Abstract: With some delay, the internationalization of business R is following the globalization of production. Starting on a small scale during the 1970s and 1980s, the emergence of globally distributed R networks of multinational enterprises (MNEs) accelerated rapidly in the 1990s. The “globalization of innovation” was facilitated and driven by a complex set of factors, including changes in trade and investment governance, improved intellectual property rights through TRIPS, the growing ease and falling cost of communicating and traveling around the globe, and the concomitant vertical industry specialization and unbundling of value chains. The growing and sustained level of cross-border M was one major direct driver, often having the effect that merged firms inherited multiple R sites in a number of countries.
  • Topic: Development, Economics, Foreign Direct Investment
  • Political Geography: China, India, Asia
  • Author: Jefferson Fox
  • Publication Date: 12-2009
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: Over the last half-century, public policy has affected land-use practices across the borders linking China, Thailand, and Laos. Political and economic reforms have facilitated labor mobility and a shift in agricultural practices away from staple grains and toward a diverse array of cash crops, rubber being one of the foremost. China has promoted the conversion of forests to rubber agroforestry in southern Yunnan--profitable for farmers, but a concern in terms of biodiversity and long-term viability. In Thailand, the response is at the other end of the spectrum as the government's concerns about land-use practices and watershed management have led to policies that dramatically constrain land-use practices and limit tenure rights. In Laos the future is not yet clear. Government policies provide weak support for both private land ownership and protected areas. In a global environment where national policy has such a dramatic effect on land use and land cover, the factors behind land-use change merit close examination.
  • Topic: Agriculture, Economics, Migration, Labor Issues
  • Political Geography: China, Asia, Thailand, Southeast Asia
  • Author: John H. Makin
  • Publication Date: 01-2008
  • Content Type: Policy Brief
  • Institution: American Enterprise Institute for Public Policy Research
  • Abstract: Japan experienced a disastrous decade of economic stagnation and deflation from 1991 to 2001 after bubbles in its stock market and land market collapsed. While some economic pain was unavoidable—given a 60 percent plunge in equity prices between late 1989 and August 1992, accompanied by the onset of what ultimately became a 70 percent drop in land values by 2001—the "lost decade" was not an inevitable outcome. It required a series of persistently wrong economic policy decisions that ignored the lessons learned in America's Great Depression of the 1930s and the subsequent research on the causes of that painful period.
  • Topic: Economics, Human Rights, Human Welfare, Humanitarian Aid, Markets
  • Political Geography: United States, Japan, America, Asia
  • Author: Nicholas R. Lardy
  • Publication Date: 09-2008
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: China\'s banking sector has been largely transformed over the past decade. Several of the largest banks have been restructured, recapitalized, and listed. Governance has improved, notably through the appointment of independent members to boards of directors. A vigorous new regulatory and supervisory agency, the China Banking Regulatory Commission (CBRC), has introduced new accounting standards, a revised risk weighting system for measuring capital, more rigorous loan loss criteria, heightened provisioning requirements, and other significant changes. Foreign banks have entered the market, both through their own branches and subsidiaries and through strategic investments in domestic banks, bringing better banking practices and much needed additional competition.
  • Topic: Economics, Government
  • Political Geography: China, Asia
  • Author: Albert Keidel
  • Publication Date: 07-2008
  • Content Type: Policy Brief
  • Institution: Carnegie Endowment for International Peace
  • Abstract: China's economy will surpass that of the United States by 2035 and be twice its size by midcentury, a new report by Albert Keidel concludes. China's rapid growth is driven by domestic demand—not exports—and will sustain high single-digit growth rates well into this century. In China's Economic Rise—Fact and Fiction, Keidel examines China's likely economic trajectory and its implications for global commercial, institutional, and military leadership.
  • Topic: Economics, Globalization, International Trade and Finance
  • Political Geography: United States, China, Asia
  • Author: Mikko Patokallio
  • Publication Date: 09-2008
  • Content Type: Policy Brief
  • Institution: Finnish Institute of International Affairs
  • Abstract: In recent years, Russia's resurgence has been driven by favourable conditions rather than solid foundations. Despite the favourable conditions, Russia's resurgence has only achieved mixed results. Buoyed by economic growth, Russia has become wealthy, assertive and confident; but the country has also alienated and provoked its neighbours and the West. Sustaining these conditions is unlikely due to problems resulting from Russia's internal structural weaknesses and assertive foreign policy. Without change, these problems are likely to worsen. Energy exports – the cornerstone of Russia's resurgence – are set to decline. The end of this boom threatens Russia's domestic stability and ability to tackle other long-term threats as external resistance to Russia hardens.
  • Topic: Economics, Energy Policy
  • Political Geography: Russia, Europe, Asia
  • Author: Simon Henderson
  • Publication Date: 11-2008
  • Content Type: Policy Brief
  • Institution: The Washington Institute for Near East Policy
  • Abstract: Saudi king Abdullah is in the United States this week to discuss issues of considerable interest to both countries. Tomorrow and Thursday, he is in New York City for an interfaith meeting he is sponsoring and which President Bush will be attending. On Friday and Saturday, the Saudi monarch will be at the White House, where he will be the sole Islamic or Arab representative at a summit of major economic powers discussing the world financial crisis. In a separate meeting with President Bush, he is expected to report on Saudi mediation efforts with the Taliban in Afghanistan. Despite some common interest in all these areas, perspectives differ significantly on issues such as radical Islam and the price of oil. The United States, particularly during a time of presidential transition, should be careful not to concede ground on continuing points of disagreement.
  • Topic: Economics, Oil
  • Political Geography: Afghanistan, United States, Middle East, Asia, Saudi Arabia
  • Publication Date: 03-2008
  • Content Type: Policy Brief
  • Institution: Atlantic Council
  • Abstract: The 2007 U.S.-China Energy Security Cooperation Dialogue was held in a period when a broad range of activities and policy recommendations have been proposed to address global energy security and environmental issues. The Dialogue identifi ed a number of further steps that China and the United States could cooperatively undertake to accelerate developments.
  • Topic: Economics, Energy Policy, Environment, Bilateral Relations
  • Political Geography: United States, China, Asia, North America
  • Publication Date: 05-2008
  • Content Type: Policy Brief
  • Institution: Atlantic Council
  • Abstract: Because of their significant contribution to global demand for improved living standards, meaningful actions by the United States and China on transportation and energy will be important in any effort to reduce global consumption of traditional energy sources. Together the United States and China consume 40% of the world's energy and are responsible for 50% of the world's greenhouse gas emissions. Given their economic size and impact on global markets, it is imperative that the U.S. and China join in a mutually beneficial process.
  • Topic: Economics, Energy Policy, Environment, Bilateral Relations
  • Political Geography: United States, China, Asia, North America
  • Author: Hakim Darbouche
  • Publication Date: 03-2007
  • Content Type: Policy Brief
  • Institution: Centre for European Policy Studies
  • Abstract: President Abdelaziz Bouteflika's statement to Spain's El País1 that the idea of a 'gas-OPEC' should not a priori be excluded, adds to a series of twists, among which was Vladimir Putin's confirmation on 1 February that the idea of a gas cartel was an 'interesting one' worth considering further. Hitherto, this gas saga featured Russia, Algeria, the EU, NATO and Iran. The story revolves around Russian-Algerian mingling on gas matters, spurring European and Transatlantic concerns over the prospects of a 'gas OPEC'. At a time of increasing European dependence on foreign energy supplies, these developments have been interpreted as being part of a wider effort, led by Russia, to use energy as a lever to undermine European diplomacy. These allegations have been dismissed by Algeria and Russia, whose leaders insist that their cooperation is intended to optimise their benefits and those of their customers alike. This paper examines the underpinnings of these developments by assessing the likelihood of their culmination in a gas cartel and offers an insight into the potential policy choices behind them.
  • Topic: Economics, Energy Policy
  • Political Geography: Russia, Europe, Eastern Europe, Asia, Algeria
  • Author: Albert Keidel
  • Publication Date: 09-2007
  • Content Type: Policy Brief
  • Institution: Carnegie Endowment for International Peace
  • Abstract: Surging food prices in China indicate a serious risk of inflationary overheating. Past steps to control inflation caused social protest and deadly unrest. China faces the same risk now. China could avoid severe inflation by learning from its past failures and quickly raising interest rates—but politics make this unlikely. “Cooling off” policies in the future will thus be harsher than necessary. Beyond short-term fixes, China should increase imports of fine grains, with long-term U.S. supply assurances, both to stabilize prices and to promote lucrative farm diversification. U.S. intelligence analysis of this overheating risk should refute the conventional wisdom that China's growth is export-led—it is clearly domestically driven. Policy makers need to realize that China's rapid economic rise is homegrown and sustainable. The United States should quietly remind China that harsh handling of inflation-related unrest could seriously damage U.S.-China relations—especially in a U.S. election year.
  • Topic: Economics, Globalization
  • Political Geography: United States, China, Asia
  • Author: C. Fred Bergsten
  • Publication Date: 03-2007
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: East Asia is clearly, if gradually and unevenly, moving toward regional economic integration. Market forces are leading the process, as firms construct production chains across the area that exploit the comparative advantage of its individual countries. Governments are now moving to build on those forces, and consolidate them, through a series of formal agreements to intensify their economic relationships and start creating an East Asian Community.
  • Topic: Development, Economics
  • Political Geography: United States, China, Israel, East Asia, Asia
  • Author: John H. Makin
  • Publication Date: 01-2007
  • Content Type: Policy Brief
  • Institution: American Enterprise Institute for Public Policy Research
  • Abstract: Top economic policymakers from China and the United States met in Beijing in mid-December 2006 for the first round of what has been called the U.S.-China Strategic Economic Dialogue (SED). There is a lot more at stake than the level of China's currency when the world's premier economic sprinter—China—meets with the world's premier economic long-distance runner—America. The fundamental issue at hand is the creation and preservation of wealth of two nations, each of which has much to teach the other. The right outcome from the dialogue would provide a substantial boost to the global economy in coming years, while the wrong outcome would threaten the continuation of global prosperity.
  • Topic: International Relations, Economics
  • Political Geography: United States, China, Beijing, Asia
  • Author: Yegor Gaidar
  • Publication Date: 04-2007
  • Content Type: Policy Brief
  • Institution: American Enterprise Institute for Public Policy Research
  • Abstract: In the summer of 2002, after the Russian government introduced the flat income tax, completed fiscal reforms, created the Stabilization Fund, and introduced land reform in Russia, I had a premonition that the window of opportunity for further reforms would be closing for a number of years. I was correct in my prediction.
  • Topic: Economics, Energy Policy, International Trade and Finance
  • Political Geography: Russia, Europe, Asia, Soviet Union
  • Publication Date: 01-2007
  • Content Type: Policy Brief
  • Institution: EastWest Institute
  • Abstract: In 2005–2006 the EastWest Institute (EWI) and the Association of Municipalities of the Kaliningrad Oblast (AMOKO) realized a joint project, «Reforming Municipal Finance of the Kaliningrad Oblast through Performance Budgeting». Carried out with financial support from the Swedish International Development Cooperation Agency (SIDA), the project was a contribution to the Russian national program of modernization of budget management systems at the regional and municipal level in accordance with the best world and European practices.
  • Topic: Development, Economics
  • Political Geography: Russia, Europe, Eastern Europe, Asia
  • Author: Beth Ellen Cole
  • Publication Date: 11-2007
  • Content Type: Policy Brief
  • Institution: United States Institute of Peace
  • Abstract: Afghanistan has now laid the foundation for a market-based economy. A new economic system, based on the state as a regulator, not a producer, of goods, with a clear separation between the public and private sectors, stands in place of the centralized economy of the past. An independent central bank, a liberalized foreign exchange system, and laws permitting foreigners to wholly own property characterize the new economic landscape. A doubling of the gross national product and per capita income, a 13 percent growth rate in 2007, and modest inflation paint a vibrant picture.
  • Topic: Security, Development, Economics
  • Political Geography: Afghanistan, Asia
  • Publication Date: 11-2007
  • Content Type: Policy Brief
  • Institution: Liechtenstein Institute on Self Determination, Princeton University
  • Abstract: The Liechtenstein Institute on Self-Determination (LISD) at Princeton University's Woodrow Wilson School of Public and International Affairs convened the colloquium, “State, Security and Economy in Afghanistan: Current Challenges, Possible Solutions,” on 16-18 November 2007 in Brussels, Belgium. The conference was funded in part by the Carnegie Corporation of New York, the House of Liechtenstein, and the Government of Austria.
  • Topic: Conflict Resolution, Security, Economics, Government, War
  • Political Geography: Afghanistan, Central Asia, Asia, Belgium, Austria
  • Author: Erica Downs, Peter C. Evans
  • Publication Date: 05-2006
  • Content Type: Policy Brief
  • Institution: The Brookings Institution
  • Abstract: The efforts of China's national oil companies to secure upstream oil assets abroad have attracted attention from U.S. officials and policymakers. Congress has taken notice, as indicated by the request of the Chairman of the U.S. House of Representatives Resources Committee Richard W. Pombo—triggered by the bid made by China National Offshore Oil Corporation Ltd. for Unocal in 2005—for a study by the Department of Energy of the economic and national security implications of China's energy demand. The report, released in February 2006, concludes that the foreign investments of China's national oil companies do not pose an economic challenge to the U.S. However, one issue the report mentions only in passing that merits further attention is how the Chinese government's financial support for some of these investments can undermine an open and competitive world oil market.
  • Topic: Security, Economics, Energy Policy
  • Political Geography: United States, China, Asia
  • Author: Albert Kiedel
  • Publication Date: 09-2006
  • Content Type: Policy Brief
  • Institution: Carnegie Endowment for International Peace
  • Abstract: China is confronting widespread violent and even deadly social unrest, raising Communist Party alarms about national security. Some observers speculate that unrest could undermine China's national leadership, as it did in the Ukraine and the Philippines. Some U.S. policy makers might welcome unrest in China as a path to democracy and “freedom.” But rather than an opportunity to transform China's political order, China's social unrest should be understood as the unavoidable side effects—worsened by local corruption—of successful market reforms and expanded economic and social choice. Managing this unrest humanely requires accelerated reform of legal and social institutions with special attention to corruption. More violence would generate more suffering, potentially destabilizing East Asia and harming U.S. interests. The United States should encourage China to strengthen its social reconciliation capabilities, without making electoral political reform a prerequisite for intensifying engagement across the board.
  • Topic: Civil Society, Development, Economics
  • Political Geography: United States, China, Ukraine, East Asia, Asia
  • Author: Nicholas R. Lardy
  • Publication Date: 10-2006
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: In December 2004 China's top political leadership agreed to fundamentally alter the country's growth strategy. In place of investment and export-led development, they endorsed transitioning to a growth path that relied more on expanding domestic consumption. Since 2004, China's top leadership, most notably Premier Wen Jiaobao in his speech to the National People's Congress in the spring of 2006, has reiterated the goal of strengthening domestic consumption as a major source of economic growth. This policy brief examines the reasons underlying the leadership decision, the implications of this transition for the United States and the global economy, and the steps that have been taken to embark on the new growth path.
  • Topic: International Relations, Development, Economics
  • Political Geography: United States, China, Asia
  • Author: Jeffrey J. Schott, Scott C. Bradford, Thomas Moll
  • Publication Date: 06-2006
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: Five years ago the Institute published Free Trade between Korea and the United States? by Inbom Choi and Jeffrey J. Schott, which analyzed the potential benefits and costs of pursuing a bilateral free trade agreement (FTA). At the time, neither government had vetted the idea in bilateral consultations, though some business groups in each country—and some members of the US Congress—had voiced support for deepening US-Korea economic ties through an FTA.
  • Topic: Economics, International Organization, Political Economy
  • Political Geography: United States, Asia, Korea
  • Author: Gary Clyde Hufbauer, Jeffrey J. Schott
  • Publication Date: 02-2006
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: Trade ministers from member countries of the World Trade Organization (WTO) convened in Hong Kong in December 2005 to jump-start the flagging Doha Round of multilateral trade negotiations. The Hong Kong ministerial was not a complete bust. But ministers accomplished only the minimum necessary to keep the Doha Round moving forward—toward an undetermined and probably distant conclusion.
  • Topic: Development, Economics, International Trade and Finance
  • Political Geography: Asia
  • Author: Harry Harding
  • Publication Date: 01-2006
  • Content Type: Policy Brief
  • Institution: Atlantic Council
  • Abstract: China has done remarkably well in its development over the last twenty-five years. It has achieved and sustained high rates of economic growth, lifting millions out of poverty. It has achieved a significant place in the international economy. It is widely regarded as a major power, not only in Asia but also increasingly on a global stage. Looking ahead, however, things could go wrong – possibly quite seriously wrong – for China, and if China experiences serious problems, its size and its expanded role in the world mean that there could be serious consequences for the broader international community as well.
  • Topic: Development, Economics, International Trade and Finance
  • Political Geography: China, Asia
  • Author: Albert Kiedel
  • Publication Date: 01-2006
  • Content Type: Policy Brief
  • Institution: Atlantic Council
  • Abstract: What are the implications if China sustains nine-percent growth through 2010? This is the basic question posed by conference organizers. The relevant time frame is what matters most. If China merely maintains nine-percent growth until the year 2010, the implications are not great. Too much is left unknown about what comes after 2010. Even with nine-percent growth over the next five years, China in 2010 will still be at a relatively low level of performance, both overall and in per-capita terms. But if sustaining nine-percent growth to 2010 means that China has launched on-going reforms that will continue to engineer institutional changes needed for a market economy's successful commercial and political management, then the resulting successful development trajectory in the rest of the century will generate profound and, from today's perspective, unexpected consequences.
  • Topic: International Relations, Development, Economics
  • Political Geography: China, Asia
  • Author: Edward J. Lincoln
  • Publication Date: 01-2006
  • Content Type: Policy Brief
  • Institution: Atlantic Council
  • Abstract: China ought to be able to produce a relatively high economic growth rate over at least the next decade. There are a number of problems confronting the economy, but one of the great lessons of the past half-century of world economic growth is how much growth can result even when economies have considerable institutional flaws. Economists usually speak about the need to get the “fundamentals” right to produce economic growth, but we should also keep in mind that nations need not get have a perfect set of institutions and rules to generate growth.
  • Topic: Economics, International Trade and Finance, Regional Cooperation
  • Political Geography: China, Asia
  • Author: Banning Garrett, Franklin Kramer, Jonathan M. Adams
  • Publication Date: 03-2006
  • Content Type: Policy Brief
  • Institution: Atlantic Council
  • Abstract: At the beginning of 2006, Taiwan is confronted with difficult choices that it currently seems unprepared to face. Cross-Strait tensions have diminished in the last year and Taiwan's economy has grown at an annualized rate of about 3.6 percent, which is respectable if not robust by East Asian standards. Taiwan, however, also faces an East Asian future which likely includes an increasingly important role for its relations with the Mainland as China becomes an ever more important economic and political factor regionally and globally.
  • Topic: Foreign Policy, Economics, International Trade and Finance
  • Political Geography: China, Taiwan, East Asia, Asia
  • Author: Matthew Smith, Alan Roe, Tony Addison
  • Publication Date: 06-2006
  • Content Type: Policy Brief
  • Institution: United Nations University
  • Abstract: An effective state is able to mobilize revenue and spend it on infrastructure, services, and public goods that both enhance human capital and the well-being of communities (especially the poor), as well as stimulating investment and employment creation by the private sector. An effective state also manages public finance to ensure that macroeconomic balance is maintained—with policy neither too restrictive to discourage private investment and growth, nor too accommodative to create high inflation and crowd out private investment. Fiscal issues are therefore at the heart of the state's role in the development process and failure in this policy area—whether it is in taxation, public expenditures, or in managing the fiscal deficit and public debt—can quickly undermine growth and poverty reduction. Fiscal weakness can also be fatal to social peace when one or more ethnic, religious, or regional groups are taxed unfairly—or receives too little in the allocation of public spending.
  • Topic: Debt, Development, Economics, Poverty
  • Political Geography: Africa, Asia
  • Author: Richard C. K. Burdekin
  • Publication Date: 01-2006
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: Over the past five years, U.S. exports to China have been dwarfed by imports from that country, with the resulting trade deficit igniting a bout of China bashing reminiscent of the Japan bashing of the 1980s. A major culprit in the trade imbalance, according to many U.S. analysts and policymakers, is China's currency: the renminbi, they say, is too cheap relative to the dollar. Some are calling for high tariffs on Chinese goods or for further exchange-rate adjustment that would revalue the renminbi significantly upward, making Chinese goods less competitive. But with just 10.4 percent of total U.S. trade attributed to China in the first half of 2005, it is unrealistic that any renminbi exchange-rate adjustment could rein in the burgeoning U.S. trade deficit. And if the adjustment were drastic the United States could be the big loser: driving China out of the market for U.S. treasuries would most likely have calamitous consequences, not only for the dollar but for U.S. credit markets and for the U.S. economy in general.
  • Topic: Economics, International Trade and Finance
  • Political Geography: United States, Asia, North America
  • Author: Bonnie Glaser, James Nolt
  • Publication Date: 12-2006
  • Content Type: Policy Brief
  • Institution: Foreign Policy In Focus
  • Abstract: As part of our China Focus, we asked two leading scholars to reflect on the tensions and possibilities in U.S.-China relations. Bonnie Glaser is a senior associate at the Center for Strategic and International Studies. James Nolt is a senior fellow at the World Policy Institute. We asked them first about the potential for a strategic security partnership between the United States and China, then about their economic relationship.
  • Topic: Security, Economics, International Cooperation
  • Political Geography: United States, China, Asia
  • Publication Date: 11-2006
  • Content Type: Policy Brief
  • Institution: The Organisation for Economic Co-operation and Development
  • Abstract: The Russian economy has been enjoying a period of robust growth, thanks largely to steadily rising terms of trade. The challenge confronting policy-makers is to facilitate Russia's transition into a period of self-sustaining, investment- and innovation-led growth. This will require a sound macroeconomic policy framework to manage the economy's adjustment to sustained high oil prices and a range of structural reforms aimed at creating better framework conditions for business.
  • Topic: Development, Economics, Markets
  • Political Geography: Russia, Europe, Asia
  • Author: Ángel Ubide
  • Publication Date: 09-2005
  • Content Type: Policy Brief
  • Institution: Centre for European Policy Studies
  • Abstract: Since the Asian crisis, the IMF has undergone a deep process of soul searching, trying to extract lessons from the experience. External criticism has been abundant, and basically all three of the IMF's main areas of work – surveillance, crisis prevention and resolution, and poverty reduction – have been called into question. Several years later, there is a feeling that not much has been achieved, and key questions remain unanswered. As the world business cycle matures, and thus the likelihood of further crises slowly increases, it is critical for the stability of the world financial system to discuss what the IMF's business model should look like.
  • Topic: Development, Economics, Emerging Markets, International Trade and Finance
  • Political Geography: Asia
  • Author: Dmitri V. Trenin
  • Publication Date: 10-2005
  • Content Type: Policy Brief
  • Institution: Carnegie Endowment for International Peace
  • Abstract: After the fall of Communism, Russia reverted to czarism. But more importantly, Russia embraced capitalism. Although not democratic, Russia is largely free. Property rights are more deeply anchored than they were five years ago, and the once-collectivist society is going private. Indeed, private consumption is the main driver of economic growth. Russia's future now depends heavily on how fast a middle class—a self-identified group with personal stakes in having a law-based government accountable to tax payers—can be created. The West needs to take the long view, stay engaged, and maximize contacts, especially with younger Russians.
  • Topic: Economics, Government
  • Political Geography: Russia, Europe, Asia