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2. 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
3. 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
4. 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
5. US-China Economic Relations Under Pressure From COVID-19
- Author:
- Christopher A. McNally
- Publication Date:
- 06-2020
- Content Type:
- Commentary and Analysis
- Institution:
- East-West Center
- Abstract:
- With both the US and China facing a long economic slowdown, the bilateral relationship between the globe's two largest economies faces massive challenges. Making matters worse, Washington and Beijing have attempted to divert domestic attention away from their own substantial shortcomings by blaming each other. Given the economic uncertainty, each side has limited leverage to force the other into making concessions. Harsh rhetoric only serves to inflame tensions at the worst possible time. For better or worse, the US and China are locked in a messy economic marriage. A divorce at this time would exact an enormous cost in an already weakened economy.
- Topic:
- Foreign Policy, Bilateral Relations, Economy, and COVID-19
- Political Geography:
- China, Asia, North America, and United States of America
6. An Aging Population in Asia Creates Economic Challenges
- Author:
- Andew Mason, Sang-Hyop Lee, and Donghyun Park
- Publication Date:
- 05-2020
- Content Type:
- Commentary and Analysis
- Institution:
- East-West Center
- Abstract:
- Elderly populations in Asia are expanding more quickly than other age groups. This shift in population age structure had two major impacts: demand for income support for the elderly will rise because their labor income tends to be extremely low; and gross domestic product (GDP) and other aggregate economic indicators will grow more slowly as growth in the effective labor force declines. In countries where government programs play an important role in old-age support, tax rates will have to rise or benefits will have to be curtailed or both—all options with significant political costs.
- Topic:
- Demographics, Labor Issues, Population, GDP, and Economy
- Political Geography:
- Asia and Asia-Pacific
7. Has U.S. Government Angst over the China Danger Diminished?
- Author:
- Robert Sutter
- Publication Date:
- 01-2020
- Content Type:
- Working Paper
- Institution:
- East-West Center
- Abstract:
- The so-called “truce” in the trade war with the signing of the phase one U.S.-China trade agreement on January 15 comes amid indicators that the intense U.S. government consensus pushback against a wide range of perceived challenges posed by China may be subsiding.
- Topic:
- Government, Bilateral Relations, Economy, and Trade Wars
- Political Geography:
- China, Asia, North America, and United States of America
8. Mongolia's Response to Increasing U.S.-China-Russia Rivalry in Asia
- Author:
- Alicia Campi
- Publication Date:
- 08-2020
- Content Type:
- Working Paper
- Institution:
- East-West Center
- Abstract:
- Dr Alicia Campi, President of the Mongolia Society, explains that “The [“Third Neighbor”] policy was reinterpreted in content and meaning to include cultural and economic partners as diverse as India, Brazil, Kuwait, Turkey, Vietnam, and Iran. With increased superpower rivalry in its region, Mongolia has expanded this basic policy.”
- Topic:
- Foreign Policy, Partnerships, and Economy
- Political Geography:
- Russia, China, Turkey, India, Mongolia, Asia, Kuwait, Brazil, North America, and United States of America
9. From 'Rebalance to Asia' to 'Free and Open Indo-Pacific': The Development of the U.S.-Vietnam Comprehensive Partnership
- Author:
- Bich T. Tran
- Publication Date:
- 11-2019
- Content Type:
- Working Paper
- Institution:
- East-West Center
- Abstract:
- Under the Obama administration’s Rebalance to Asia, Vietnam gradually gained importance in U.S. foreign policy as the two countries formed a “comprehensive partnership” in 2013. Despite the Trump administration’s America First policy, the United States prioritizes its partnerships with Vietnam and other Southeast Asian countries in its Free and Open Indo-Pacific Strategy. While a common concern about China’s behavior in the South China Sea has facilitated the growth of U.S.-Vietnam relations, the foundation of the relationship is cooperation on Vietnam War legacy issues. The two countries have made remarkable progress in advancing diplomatic, economic, and defense ties regardless of remaining challenges. The year 2020 would be ideal for the United States and Vietnam to upgrade the relationship to a “strategic partnership”: it marks the 25th anniversary of the normalization of bilateral relations, Hanoi’s ASEAN chairmanship, and the start of Vietnam’s term as a non-permanent member of the United Nations Security Council.
- Topic:
- Foreign Policy, Diplomacy, Bilateral Relations, Partnerships, Economy, Donald Trump, and Barack Obama
- Political Geography:
- Asia, Vietnam, and United States of America
10. Chinese, Japanese, and Korean Inroads into Central Asia: Comparative Analysis of the Economic Cooperation Roadmaps for Uzbekistan
- Author:
- Timur Dadabaev
- Publication Date:
- 12-2019
- Content Type:
- Working Paper
- Institution:
- East-West Center
- Abstract:
- China, Japan, and South Korea have regarded Central Asia as a new Asian frontier in their foreign policies since the collapse of the Soviet Union. With time, their policies evolved into regionbuilding initiatives exemplified by the Shanghai Cooperation Organization, Belt and Road Initiative, Central Asia plus Japan Dialogue Forum, and Korea-Central Asia Cooperation Forum. This paper raises the following research questions: What are the areas of interest for China, Japan, and Korea in their relations with Central Asian states and Uzbekistan in particular? What are the patterns of agenda setting in establishing intergovernmental cooperation? What are the particular projects that these states initiate? What are the objectives of projects initiated within these areas of interest? How competitive or complementary are these projects of China, Japan, and Korea? Throughout, Chinese, Japanese, and Korean “Silk Road” roadmaps with Uzbekistan are discussed to highlight their similarities and differences.
- Topic:
- Foreign Policy, Economy, and Economic Cooperation
- Political Geography:
- Japan, China, Central Asia, Asia, South Korea, and Uzbekistan