Search

Begin New Search Topic Economics Political Geography Asia

1. Korea’s Strategy for Critical Minerals: Navigating New Trade Rules and Global Challenges

Author:
Cheon-Kee Lee
Publication Date:
04-2025
Content Type:
Policy Brief
Institution:
Korea Institute for International Economic Policy (KIEP)
Abstract:
Since the establishment of the GATT in 1947 and the WTO multilateral trading system in 1995, trade liberalization has led to an increase in global trade and the internationalization of production through global supply chains. In recent years, however, as non-trade values including national security, labor rights, and environmental protection have become important considerations, supply chains have become an end in themselves rather than a means of pursuing efficiency. Additionally, major trading partners such as the U.S, the EU, and China have sought to regulate global supply chain by leveraging market access to their domestic markets or critical minerals. The proliferation of such unilateral measures has posed significant challenges, as traditional WTO/FTA trade rules have failed to effectively address these new regulatory dynamics. The increasing compliance costs for companies, stemming from emerging supply chain regulations, are exacerbated by the legal constraints and loopholes in existing international trade frameworks, despite previously promised market access in multilateral and bilateral agreements. Against this backdrop, this Brief reviews the current state of disciplines in bilateral and multilateral trade rules and disciplines, with a particular focus on unilateral supply chain regulations. It will explore the critical minerals sector in light of recent sector-specific agreements and arrangements, including the IPEF Supply Chain Agreement, the U.S.-Japan Critical Minerals Agreement or “CMA”, and the EU's Strategic Partnership. While many supply chain issues are emerging in relation to various non-trade values, the critical minerals sector has been the first to see the emergence of more flexible and pragmatic sector-specific agreements and MoUs that depart from the traditional FTA model. This is likely due to the fact that the security of mineral resources is crucial to the competitiveness of domestic industries in many countries. Moreover, the recent trend of resource-owning countries requiring foreign and foreign-owned mining companies to uphold environmental and labor rights during the mineral extraction process has led to the emergence of new ESG (Environmental, Social, and Governance) obligations. The ability to address these elements in a stand-alone agreements or MoUs specific to critical minerals—rather than within the framework of a traditional FTA—marks a key strength of this approach. The evolution of these agreements, especially in the critical minerals sector, is of particular relevance to Korea. As the country faces increasing reliance on the global supply of critical minerals and is deeply impacted by evolving international regulations, it is crucial for Korea to explore its own strategy for securing access to these resources. This Brief will focus on the development of Korea's critical mineral strategy, while drawing the lessons from international agreements.
Topic:
Economics, World Trade Organization, Multilateralism, Trade, and Critical Minerals
Political Geography:
Asia and South Korea

2. State Enterprises as Enablers of Economic Cooperation in India

Author:
Kyunghoon Kim
Publication Date:
01-2025
Content Type:
Policy Brief
Institution:
Korea Institute for International Economic Policy (KIEP)
Abstract:
This Brief discusses the role of state enterprises in India's economy, emphasizing their pivotal contribution to the government's development strategy. It also highlights cases where Indian state enterprises have formed cooperative relationships with global companies, as well as foreign and international development agencies. The Brief concludes with implications for the Korean government and businesses.
Topic:
Development, Economics, Economic Cooperation, and State-Owned Enterprises
Political Geography:
South Asia, India, Asia, and South Korea

3. Precarious Geographies: Migrant Labor in China’s Network Production

Author:
Na Fu
Publication Date:
03-2025
Content Type:
Video
Institution:
Weatherhead East Asian Institute, Columbia University
Abstract:
As industrial production decentralizes, rural China has become a new hub for networked manufacturing, blurring the boundaries between factory and home. Migrant workers are returning to their hometowns to set up workshop-style facilities, driven by labor shortages, infrastructure improvements, and digital connectivity. Na Fu's study examines how mobility, once seen as a path to opportunity, now reinforces labor precarity, reshaping spatial and economic relations under China’s evolving network production system. Na Fu holds a Ph.D. in Politics from the New School for Social Research and is currently a Postdoctoral Fellow at China Initiative at the Watson Institute for International and Public Affairs at Brown University. Her research explores the intersections of digital labor, political economy, and smart production, focusing on how technological advancements reinforce social inequities and drive resource extraction in industrial transformations. This event is hosted by the Weatherhead East Asian Institute.
Topic:
Economics, Manufacturing, Migrant Workers, and Production
Political Geography:
China and Asia

4. Mackinder’s Heartland Thesis and the Belt and Road Initiative: Russia’s Growing Dependence on China in the Aftermath of the Ukraine War

Author:
Hanna Samir Kassab
Publication Date:
03-2025
Content Type:
Journal Article
Journal:
AUSTRAL: Brazilian Journal of Strategy International Relations
Institution:
Postgraduate Program in International Strategic Studies, Universidade Federal do Rio Grande do Sul
Abstract:
This paper focuses on Russia’s current economic isolation due to the war in Ukraine. The more western states punish Russia, the more likely it will become economically dependent on China. H. J. Mackinder argues that whoever controls, or organises, the heartland of the Eurasian continent, controls the world’s political system. The more dependent Russia is on China, the more China will exercise control over Russia. If China were to gain this political leverage over Russia, it would be in a good position to organise the heartland, and possible become global hegemon.
Topic:
Economics, Belt and Road Initiative (BRI), Russia-Ukraine War, International Politics, and Dependence
Political Geography:
Russia, China, and Asia

5. A New Triangle: The Interplay Between China and EU-India Relations

Author:
Philippe Le Corre
Publication Date:
04-2025
Content Type:
Working Paper
Institution:
Asia Society
Abstract:
China has shaped the U.S.-India relationship for decades.1 Today, another significant triangle is emerging: the China-EU-India relationship. Indian and European leaders are strengthening ties. Both view China as a formidable economic and security rival while regarding the United States as a key security partner (and, for Europe, a long-standing ally). What is the current state of EU-China and EU-India relations? As India’s influence and economic appeal grow, could it become a viable alternative to China for European business leaders and policymakers? How is Brussels incorporating India into its strategies to address a potential crisis in Asia or the broader Indo-Pacific? Twenty-five years ago, the European Union viewed China as a top priority for business, cultural exchanges, and diplomacy. Following the introduction of Beijing’s open-door policy in 1978 and with strong encouragement from Chinese authorities, European companies flocked to China. Initially, many Europeans used Hong Kong as an intermediary for business, but by the mid-1990s, Guangdong Province and Shanghai became key gateways to the Chinese market, particularly for Germany and France.2 Trade and investment surged, especially after China’s accession to the World Trade Organization (WTO) in 2001, which was widely supported by European political and business elites. Today, China remains the EU’s largest trading partner, with substantial European investments across the mainland. In contrast, India was long viewed as a potential partner, but only a few EU member states took steps to forge a strategic partnership with New Delhi. European investments in India were — and still are — limited, with many corporations citing challenges such as inadequate infrastructure, market access barriers, and bureaucratic red tape, which make it difficult to operate in most Indian states. However, the mood has begun to shift. On the EU side, the European Commission’s 2019 China strategy characterized Beijing as “a partner, a competitor, and a systemic rival.” The COVID-19 pandemic, which disrupted direct links between Europe and China from 2020 to 2022, caused significant strain. This was followed by Russia’s invasion of Ukraine in February 2022, an event many on the continent perceive as having Beijing’s tacit support. Additional factors, including an increasingly authoritarian regime at home and a more assertive China abroad, have contributed to European perceptions,3 as explained at length by the Center for China Analysis’s latest Global Public Opinion on China project.4 This, in turn, has affected the EU-China relationship, which has been gradually downgraded from the “honeymoon” period of 1995–2015. On the other hand, the strengthening EU-India relationship is a relatively recent development, driven by several factors that have emerged in the wake of the pandemic. These include the rise of the ambitious Bharatiya Janata Party under Prime Minister Narendra Modi, who first took office in 2014 and is now serving his third term, as well as a broader diversity of partnerships between the EU and India. Other factors influencing EU-India relations include the growing assertiveness of the People’s Republic of China and the United States’ shift away from multilateralism during President Donald Trump’s first term (2017–2021). Since January 2025, the increasing probability of a break in the transatlantic alliance under the new Trump administration is leading the EU to look for new partners, including in the Indo-Pacific region. In addition, India’s robust GDP growth — 6.6% in 2025 and a projected 6.7% in 2026 — has attracted European businesses.5 In a global environment defined by multipolarity, could the previously low-profile EU-India relationship evolve into a closer partnership? With EU-China relations facing significant challenges, might India emerge as a viable alternative Asian partner for Europe? The current EU-India relationship is described as “strategic.” In reality, it is partial and uneven, and there are major differences in the nature of relations between India and individual EU member states. Meanwhile, how does Beijing view its competitor in the Global South as it seeks to win over Europe’s support? This paper explores the dynamics of the interaction among these three powers in the rapidly changing geopolitical context. It examines India’s political and economic challenges in the context of the EU-China relationship, how the EU-India relationship is evolving, and whether an EU-India partnership could take center stage if tensions with China escalate. European countries have kept strong ties with the Global South, and some see a strong India as a potential bridge for fostering cooperation in Southeast Asia, the Middle East, and Africa.
Topic:
Foreign Policy, Diplomacy, Economics, Bilateral Relations, and European Union
Political Geography:
China, Europe, India, and Asia

6. Brave New World – The Future of China-US relations

Author:
Thomas Eder
Publication Date:
05-2025
Content Type:
Policy Brief
Institution:
Austrian Institute for International Affairs (OIIP)
Abstract:
The US’s diminished leverage and Beijing’s reticence to engage an erratic US president mean that a new trade deal will likely take longer than in Donald Trump’s first administration, if it materializes at all. Prolonged trade tensions are unlikely to spiral into a security crisis in the Pacific. Both sides have economic priorities, US allies and partners lose trust in Washington, and Beijing will be loath to upset a trend towards a more accommodating region. The US-China trade and technology war will challenge the EU and its member states more than before but also provide Europe with leverage as the US and China gradually lose their economic partnership.
Topic:
Economics, Treaties and Agreements, Bilateral Relations, European Union, and Trade
Political Geography:
China, Asia, North America, and United States of America

7. Korea-India Economic Cooperation in the Indo-Pacific Era

Author:
Jeong Gon Kim, Kyunghoon Kim, Jonghun Pek, Yoo Jin Nam, and Wondeuk Cho
Publication Date:
02-2024
Content Type:
Policy Brief
Institution:
Korea Institute for International Economic Policy (KIEP)
Abstract:
With the geopolitical and geoeconomic importance of the Indo-Pacific region in the spotlight, India's strategic value has come to the fore. The Korean government has included cooperation with India as a key task under its Indo-Pacific Strategy. This article aims to contribute to the establishment of economic cooperation with India from a medium- to long-term strategic perspective. Accordingly, this article analyzes the strategic changes of major countries towards India and India's response strategies, and the emerging agendas of economic cooperation between India and major countries. Lastly, this article proposes policy directions and key agendas for Korea-India economic cooperation.
Topic:
Economics, Bilateral Relations, Geopolitics, and Economic Cooperation
Political Geography:
India, Asia, South Korea, and Indo-Pacific

8. Japan’s Supply Chain Policy and its Implications for South Korea

Author:
Gyu-Pan Kim
Publication Date:
02-2024
Content Type:
Policy Brief
Institution:
Korea Institute for International Economic Policy (KIEP)
Abstract:
This WEB paper analyzed Japan's supply chain policy in line with the implementation of Japan's Economic Security Promotion Act in May 2022, and presented policy implications such as supply chain cooperation between Korea and Japan. First, this paper analyzed the US-led reorganization of the global supply chain and the Japanese government's response to it. In particular, the Japanese government's economic security policy was evaluated from the perspective of how Japan approaches the US-led the global supply chain reorganization. Second, the Japanese government's supply chain policy was analyzed, focusing on the supply chain policy for some critical materials under the Economic Security Promotion Act. Finally, this paper proposed ways for Korea and Japan to cooperate in reshaping the global supply chain led by the United States.
Topic:
Security, Economics, and Supply Chains
Political Geography:
Japan, Asia, South Korea, and United States of America

9. Korea’s Global Value Chain Strategies amid Rising Trade Disputes

Author:
Won Seok Choi
Publication Date:
03-2024
Content Type:
Policy Brief
Institution:
Korea Institute for International Economic Policy (KIEP)
Abstract:
This article explores the challenges and transformations in global economic governance, particularly in the context of China's rise, widening trade disputes, and the retreat of globalization. It discusses the reorganization of global supply chains and their implications for Korea, focusing on the policies of key countries like the United States, the European Union (EU), and China towards stabilizing and reorganizing supply chains, with an emphasis on transitioning to a green industrial structure and improving domestic industrial competitiveness, particularly in the semiconductor and secondary battery industries. Accordingly, this article analyzes Korea's dependency on imports for semiconductors and secondary batteries, noting significant increases in imports and the diversification of import sources. The analysis reveals Korea's high import dependence on specific countries for critical goods and materials, emphasizing the importance of supply chain cooperation with countries that have global export competitiveness.
Topic:
Economics, Globalization, Governance, Trade, Industry, and Value Chains
Political Geography:
Asia and South Korea

10. North Korea’s 2023 Trade with China: Analysis and Forecasts

Author:
Jangho Choi and Yoojeong Choi
Publication Date:
03-2024
Content Type:
Policy Brief
Institution:
Korea Institute for International Economic Policy (KIEP)
Abstract:
This article analyzes North Korea-China trade trends and statistics in 2023 to evaluate the extent of North Korea's trade normalization and its performance. North Korea's trade with China increased by more than 120% compared to the previous year as the country declared a COVID-19 Endemic and gradually eased border controls, but did not recover to 2018-19 levels, the year before the outbreak of COVID-19. Imports to China recorded 2.00 billion, 124.1% higher than the 0.89 billion in 2022. North Korea's imports from China in 2023 are estimated to be the maximum achievable given the lack of a full resumption of over-land trade. However, as the negative impact of UN sanctions on the North Korean economy is ongoing, making it difficult to normalize industrial production. North Korea mainly imported raw materials for processing trade (textile and garment raw materials), staple foods (rice and sugar), agricultural materials (fertilizer), and construction materials from China in 2023. North Korea’s exports to China stood at 0.29 billion, up 118.4% from 0.13 billion in 2023. Exports remain at the 16.9% of the level before the tightening of UN sanctions on North Korea, as the country has failed to diversify its products and expand exports of major export items. Exports were highly dependent on specific products, wigs and false eyelashes, a labor-intensive industry, accounting for 57.1% of total exports. In spite of increasing wigs export, North Korea failed to further expand its amount and diversify the export items in the second half of the year. According to the analysis of trade statistics, the main goals of North Korea's 2023 US foreign economic policy are: (1) resuming smuggling trade in textiles and clothing, (2) building irrigation canals in preparation for summer floods, (3) implementing state-led grain distribution, (4) building living houses in a rural area, and (5) increasing metal production for Russian arms exports. Despite the increase in imports from China in the transition to the coronavirus pandemic, it is difficult to say that it has yet led to the recovery of industrial production and economic development. The future of North Korea's trade with the rest of the world in 2024 will be determined by whether North Korea fully opens its borders and improves its relations with China. In 2024, both North Korea's exports and imports are expected to be slightly higher than in 2023. North Korea's exports are unlikely to increase significantly, as North Korea-Russia military cooperation is expected to continue and China is likely to maintain its checks on the growing Sino-Russian alignment. Increased imports will lead to a larger trade deficit, but it will be within North Korea's ability to manage for one to two years.
Topic:
Economics, Border Control, Trade, and COVID-19
Political Geography:
China, Asia, and North Korea