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1. At the Crossroads: The TPP, AIIB, and Japan's Foreign Economic Strategy

Author:
Saori N. Katada
Publication Date:
05-2016
Content Type:
Working Paper
Institution:
East-West Center
Abstract:
In 2015, two mega-initiatives took shape that will affect economic relations in the Asia-Pacific region: the US-promoted Trans-Pacific Partnership (TPP) trade agreement and the China-led Asian Infrastructure Investment Bank (AIIB). Although they address different needs, both are expected to have profound effects on Asia's economic governance in the near future, and will shape economic norms in the Asia Pacific and beyond. Japan has joined the TPP but stayed out of the AIIB, decisions that might seem counterintuitive considering its history of resisting trade liberalization and of promoting infrastructure investment. Is Japan simply favoring its US ally over rival China? Or is it that Japan's position on the TPP and AIIB aligns with its own economic priorities, and enhances its geo-economic advantage? With a US-China competition over economic ideas and regional strategies, Japan occupies a unique position that may allow it to influence the direction of Asia-Pacific economic governance, which is now being battled out by the two "titans."
Topic:
Economics, International Trade and Finance, Political Economy, and Treaties and Agreements
Political Geography:
China and Asia

2. Domestic sources of Japanese foreign policy activism: loss avoidance and demand coherence

Author:
Mireya Solís and Saori N. Katada
Publication Date:
01-2010
Content Type:
Journal Article
Journal:
International Relations of the Asia-Pacific
Institution:
Japan Association of International Relations
Abstract:
The conventional view in the field of international political economy – that greater economic interdependence creates an incentive for active foreign policy engagement – is hard to reconcile with Japan's foreign economic policy. To explain this counterintuitive outcome, we develop a new model of domestic demand for policy activism that integrates strands of prospect theory, collective action, and interest aggregation. We argue that both the rationale for mobilization and lobbying capacity are essential elements in understanding the domestic demand for significant foreign policy departures. We apply this conceptual framework to Japanese foreign economic policy in two issue areas: finance (Japan's response to the 1980s Latin American debt crisis and the late 1990s Asian Financial Crisis), and trade (Japan's Free Trade Agreement negotiations with Mexico and South Korea).
Political Geography:
Japan, Asia, South Korea, Latin America, and Mexico

3. Money Orders: Ambiguous Economics, and Ubiquitous Politics

Author:
Saori N. Katada
Publication Date:
05-2009
Content Type:
Journal Article
Journal:
International Relations of the Asia-Pacific
Institution:
Japan Association of International Relations
Abstract:
This collection of works on international monetary and financial affairs starts and ends with the assertion that 'where there is money, there is money politics' (p. 280). The volume is not, however, talking about corrupt politicians and their money politics. Instead, it covers a variety of issues such as Central Bank Independence (CBI), choice of exchange regime, and international use of currency, all of which are often considered relatively apolitical. The fundamental theme of the book runs consistently across chapters: sharp politics, as opposed to the ambiguous economics, drives macroeconomic policy (p. 19). In explaining how such politics work, Kirshner, in the introduction chapter, groups those political factors into three major categories: ideas, conflict, and power. Beliefs, ideologies, and norms lead to the world where ideas shape policies. Political conflict focuses on differences among political forces within society, and power puts emphasis on the relations between states.
Topic:
International Relations

4. Governing Finance: East Asia's Adoption of International Standards

Author:
Saori N. Katada
Publication Date:
01-2009
Content Type:
Journal Article
Journal:
International Relations of the Asia-Pacific
Institution:
Japan Association of International Relations
Abstract:
More than a decade has passed since the East Asian economies were marred by the massive financial crisis, which some assessed as the best thing that could have happened to the region (Kristopf and WuDunn, 2000). This 'blessing in disguise' allegedly comes from the fact that the governments of the crisis-hit countries 'responded by launching one of the most ambitious governance reform projects in living memory' (p. 1). Such reform is implemented by the East Asian governments' active compliance to international standards of transparency, finance, and corporate governance. The influence of this so-called 'regulatory neoliberalism' has been credited as the source of convergence of East Asian economies to international norms.
Topic:
Government and Governance
Political Geography:
East Asia

5. Understanding East Asian Cross-Regionalism: An Analytical Framework

Author:
Mireya Solís and Saori N. Katada
Publication Date:
06-2007
Content Type:
Journal Article
Institution:
University of British Columbia
Abstract:
A key feature of East Asian FTA diplomacy remains unacknowledged and, therefore, unaccounted for: the activism displayed in seeking preferential trading relations with countries outside the region. While European and North American countries have also pursued cross-regional trade agreements (CRTAs), East Asia is unique in pursuing extra-regional partnerships before consolidating the regional trade integration process. This framework article identifies the common patterns and fundamental factors behind the East Asian governments' moves towards establishing CRTAs. After laying out the conventional arguments—ranging from the extra-regional market dependence, the region's security arrangements, and economic and political motives behind East Asia's extra-regional interests—the article introduces the novel concept of "leverage." This notion highlights how cross-regional and intra-regional FTA initiatives are intimately linked: East Asian countries frequently choose an extraregional FTA partner in order to break regional inertias that hinder integration, to win domestic battles, and to appropriate extra-regional negotiation modalities that they can use in their subsequent intra-regional FTA negotiations. The article concludes with a summary of the findings from the country cases, and the policy implications of East Asia's porous regionalism, with its heavy doses of cross-regional trade initiatives.
Topic:
Diplomacy
Political Geography:
East Asia and North America

6. The Japan-Mexico FTA: A Cross-Regional Step in the Path towards Asian Regionalism

Author:
Mireya Solís and Saori N. Katada
Publication Date:
06-2007
Content Type:
Journal Article
Institution:
University of British Columbia
Abstract:
By most accounts, Japan and Mexico remain distant economic partners with only a modest volume of bilateral trade and foreign direct investment, and a large geographical and cultural gulf between them. By this depiction, the Japanese decision to negotiate with Mexico is puzzling if not downright nonsensical: Why would Japan invest so much political capital in the negotiation of a complex free trade agreement (FTA) with a nation accounting for such a minuscule share of its international economic exchange? Solís and Katada challenge this interpretation of Japan's second bilateral FTA ever, and demonstrate that far from being irrational or insignificant, the stakes involved in the Japan-Mexico FTA were very high, and that this crossregional initiative stands to exert powerful influence over the future evolution of Japan's shift towards economic regionalism. For a number of Japanese industries (automobiles, electronics and government procurement contractors) negotiating with Mexico was essential to level the playing field vis-à-vis their American and European rivals, which already enjoyed preferential access to the Mexican market based on their FTAs. For the Japanese trade bureaucrats, negotiations with Mexico offered an opportunity to tip the domestic balance in favour of an active FTA diplomacy, despite the opposition of the agricultural lobby. Negotiations with Mexico constituted a litmus test, both for the Japanese government and in the eyes of potential FTA partners in Asia, on whether Japan could offer a satisfactory liberalization package to prospective FTA partners to make these negotiations worthwhile.
Topic:
Diplomacy
Political Geography:
Japan, America, Asia, and Mexico

7. Collective Management of International Financial Crises

Author:
Saori N. Katada
Publication Date:
07-1998
Content Type:
Working Paper
Institution:
Center for International Studies, University of Southern California
Abstract:
The world has experienced many financial crises. Despite numerous research and policy efforts in prevention to present them at of large scale, the global economy has not seen economists' (and investors') Nirvana of financial globalization without the occasional crises. On the contrary, the increasing dynamism and changing nature of financial flows across national borders seem to have created a larger number of new problems for creditors, debtors and international financial institutions. That has typically been true for middle income countries in Latin America and Asia and, very recently, in Eastern Europe, which have been integrated into the international financial system. During the two decades between the late 1970s and the late 1990s, three major sets of financial crises originated from those middle income countries, intensifying concerns for international financial stability.
Topic:
Economics, Globalization, International Political Economy, and International Trade and Finance
Political Geography:
Europe, Israel, East Asia, Latin America, Central America, and North America