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5781. How To Saving APEC

Author:
Dr. Malcolm Cook and Allen Gyngell
Publication Date:
10-2005
Content Type:
Policy Brief
Institution:
Lowy Institute for International Policy
Abstract:
What is the Problem? The Asia Pacific Economic Cooperation forum, APEC, has served Australian interests very well since its establishment in 1989, but it has lost its early momentum and is confused about its purposes. It faces competition from the new East Asian Summit. In 2007, Australia will chair APEC and host its 21 leaders in Sydney. How can we ensure that APEC is in good shape for that meeting and that it continues to serve the interests of the Asia Pacific region?
Topic:
Conflict Prevention, Development, and Diplomacy
Political Geography:
Australia/Pacific

5782. Angels and Dragons: Asia, the UN, reform and the next Secretary-General

Author:
Michael Fullilove
Publication Date:
07-2005
Content Type:
Policy Brief
Institution:
Lowy Institute for International Policy
Abstract:
The relationship between the UN and Asia can seem unfamiliar and distant. Most of New York's energy is consumed by the Middle East and Africa rather than Northeast, South and Southeast Asia; the international organisation can seem Atlanticist in orientation. On the other side of the Pacific Ocean the strict view of state sovereignty adopted by many Asian capitals leads them to keep the UN at arm's length. As always, however, the story is more complex: we need to differentiate between the UN's work in Asia on the one hand, and Asian behaviour at the UN on the other. Since 1945, the UN has contributed to the Asian security order but only at the margins, its security role circumscribed by power politics and Asian approaches to security. By contrast, Asian states have always been keen to exercise their prerogatives in New York, viewing their UN activities as a marker of sovereignty and a source of prestige. The Brief reviews this history and sets out the current stances of the three major regional powers — China, India, and Japan — towards the UN.
Topic:
International Relations, International Organization, and United Nations
Political Geography:
United States, Japan, China, India, and Asia

5783. Building a democratic Palestine: an Australian contribution to legal and institutional development in the Palestinian territories

Author:
Anthony Bubalo
Publication Date:
05-2005
Content Type:
Policy Brief
Institution:
Lowy Institute for International Policy
Abstract:
The current fragile ceasefire between Palestinian militants and Israel has raised hopes of an end to four years of violence. To sustain that ceasefire both Israel and the Palestinian Authority must meet their respective commitments under the "Road Map for Middle bast Peace". For the PA this means preventing terrorist attacks against Israel and undertaking political, legal and security reforms. These reforms are also critical to meeting the Palestinian public's own demands for an end to lawlessness and corruption. Given Australia's expertise in legal and institutional development, the Australian government's commitment to promoting democracy and peace in the Middle bast and its sound relationship with both the PA and the government of Israel, Australia should lend what support it can to the Palestinian effort to establish strong foundations for a stable, prosperous and democratic Palestinian state.
Topic:
Conflict Resolution, International Relations, and Development
Political Geography:
Middle East, Israel, Palestine, and Australia

5784. Sensible climate policy

Author:
Warwick McKibbin
Publication Date:
02-2005
Content Type:
Policy Brief
Institution:
Lowy Institute for International Policy
Abstract:
The Kyoto Protocol enters into force on February 16, 2005. Nearly thirteen years after negotiations began at the Rio Earth Summit and seven years after the Kyoto Protocol was negotiated, this should be a cause for global celebration. Yet the basic tenets on which the Kyoto Protocol are built are flawed and leave it worryingly vulnerable to failure. Already proponents of Kyoto are looking for alternatives “beyond Kyoto”. It is no accident that it has taken so long for the Protocol to enter into force with so few of the major future greenhouse emitters effective participants.
Topic:
International Relations, Energy Policy, and Environment
Political Geography:
Australia/Pacific

5785. Beyond Arafat

Author:
Anthony Bubalo
Publication Date:
11-2005
Content Type:
Policy Brief
Institution:
Lowy Institute for International Policy
Abstract:
Arafat may have suffered a lingering physical demise, but politically he has long been in decline. He lost much of his international credibility over his unwillingness to rein in Palestinian terrorism against Israel, and domestically his authority had gradually been eroded. While lacking an anointed heir, a succession plan is more or less in place. Political infighting is a possibility, though a desire for unity will probably prevail in the short term. But Arafat's successors will struggle to end the chaos and lawlessness into which the West Bank and the Gaza Strip have descended. Over the longer term Arafat's passing will remove the main obstacle to internal Palestinian reform. It has the potential to re-invigorate the peace process although it will not solve the fundamentals of the current impasse. It will also complicate Israeli Prime Minister Ariel Sharon's plans for a unilateral withdrawal from Gaza and parts of the West Bank, even if his instinct will be to press ahead.
Topic:
Conflict Resolution, Development, and Government
Political Geography:
Middle East

5786. Living with Global Imbalances: A Contrarian View

Author:
Richard N. Cooper
Publication Date:
11-2005
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
Three propositions have become conventional wisdom in Washington and elsewhere. Americans save too little. As a consequence, the US current account deficit is unsustainably large. A necessary step to bring the global economy into sustainable balance is a significant appreciation of the Chinese currency, which in practice has been fixed to the dollar for over a decade.
Topic:
International Relations, Development, Economics, and Globalization

5787. After Argentina

Author:
Anna Gelpern
Publication Date:
09-2005
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
Argentina has finally restructured its foreign debt. Its credit rating is up, and its debt is back in the index. The new bonds are trading roughly in line with Brazil and Uruguay's, just above 400 basis points over treasuries for instruments of comparable duration. Argentina is raising new money from foreign investors. Earlier in the summer of 2005, it reopened a domestic dollar issue to accommodate excess foreign demand. Argentina and the International Monetary Fund (IMF) are on again. They might even sign a new disbursing program after the fall 2005 congressional elections. Like a bad dream, the 2001 default is fading into the night after three years of brisk growth and impressive fiscal management—even as the usual nabobs natter on about structural reform and unhappy bondholders.
Topic:
International Relations, Debt, and Economics
Political Geography:
South America

5788. A Currency Basket for East Asia, Not Just China

Author:
John Williamson
Publication Date:
08-2005
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
China recently announced that it is adopting a basket of currencies as the peg for its exchange rate instead of the US dollar. This announcement raises questions of how such a system works, whether other East Asian countries would be advised to follow China in adopting a basket numeraire, and whether it would be advantageous to these countries if they were all to adopt the same basket. This brief answers these questions.
Topic:
Economics, International Cooperation, and International Trade and Finance
Political Geography:
United States, Israel, East Asia, and Asia

5789. The Fed: Pulling on a Rubber Band

Author:
John H. Makin
Publication Date:
12-2005
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
On December 13 the Federal Reserve's Open Market Committee (FOMC) raised the federal funds rate, the principal tool for setting monetary policy, by 25 basis points to 4.25 percent. At the same time, the Federal Reserve Board of Governors greatly simplified what had been a tortured statement explaining the basis for their actions and the factors that will govern future actions. The statement was remarkably brief: Despite elevated energy prices and hurricanerelated disruptions, the expansion in economic activity appears solid. Core inflation has stayed relatively low in recent months and longer-term inflation expectations remain contained. Nevertheless, possible increases in resource utilization as well as elevated energy prices have the potential to add to inflation pressures. The Committee judges that some further measured policy firming is likely to be needed to keep the risks to the attainment of both sustainable economic growth and price stability roughly in balance. In any event, the Committee will respond to changes in economic prospects as needed to foster these objectives. (emphasis added).
Topic:
Economics, Emerging Markets, Government, and International Trade and Finance

5790. Why the Dollar Is Rising . . . Again

Author:
John H. Makin
Publication Date:
11-2005
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
Let's begin with a riddle: Why is the dollar like a Republican president? Answer: Because the dollar faces incessant predictions of imminent collapse, but in the end it wins out over weaker alternatives.
Topic:
Development, Economics, Government, and International Trade and Finance