Search

Begin New Search Topic Development Political Geography China

341. A (Lack of) Progress Report on China's Exchange Rate Policies

Author:
Morris Goldstein
Publication Date:
06-2007
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics (PIIE)
Abstract:
This working paper assesses the progress made in improving China's exchange rate policies over the past five years (that is, since 2002). I first discuss four indicators of progress on China's external imbalance and its exchange rate policies—namely, the change in (and level of) China's global current account position, movements in the real effective exchange rate of the renminbi (RMB), the role of market forces in the determination of the RMB, and China's compliance with its obligations on exchange rate policy as a member of the International Monetary Fund (IMF). I then discuss why the lack of progress in improving China's exchange rate policies matters for the economies of the China and the United States and for the international monetary and trading system. I also argue that several popular arguments and excuses for why more cannot be accomplished on removing the large undervaluation of the RMB are unpersuasive. Finally, I consider what can and should be done by China, the United States, and the IMF to accelerate progress over the next year or two.
Topic:
Development, Economics, and Foreign Exchange
Political Geography:
United States, China, and Asia

342. Investing in China's Rural Infrastructure and Environment

Author:
Scott Rozelle
Publication Date:
04-2007
Content Type:
Working Paper
Institution:
Walter H. Shorenstein Asia-Pacific Research Center
Abstract:
The purpose of this executive summary is to provide a concise statement about what we have learned about investment into China's rural environment. The overall purpose is to help the Bank understand what is happening in rural China, what farmer's are thinking about the current trends and what they are hoping will happen in the future (if they had a say). One of the most important questions is answer what should the role of the state be.
Topic:
Development, Environment, and Political Economy
Political Geography:
China and Asia

343. China's March on the 21st Century

Author:
Kurt M. Campbell and Willow Darsie
Publication Date:
05-2007
Content Type:
Working Paper
Institution:
Aspen Institute
Abstract:
After a protracted period of uncertainty concerning the nature of the foreign policy challenges that are likely to confront the nation over the course of first half of the 21st century, twin challenges are now coming into sharper relief. For the next generation or more, Americans will be confronted by two overriding (and possibly overwhelming) challenges in the conduct of American foreign policy: how to more effectively wage a long, twilight struggle against violent Islamic fundamentalists, and at the same time cope with the almost certain rise to great power status of China.
Topic:
International Relations, Foreign Policy, Development, Economics, and International Political Economy
Political Geography:
United States, China, America, and Asia

344. Reform of the International Monetary Fund

Author:
Peter B. Kenen
Publication Date:
05-2007
Content Type:
Working Paper
Institution:
Council on Foreign Relations
Abstract:
The International Monetary Fund (IMF) is undertaking a wide-ranging reform of its governance and operations within a framework proposed by Rodrigo de Rato, its managing director. The proposed reform is inspired in large part by the emergence of large middle-income developing countries such as China and India, which now play a major role in the world economy but are underrepresented in the Fund as the low-income developing countries. The proposed reform is also inspired by the need to simplify the Fund's internal practices and focus more intensively on its basic mandate: to “oversee the development of the international monetary system in order to ensure its effective operation.”
Topic:
Development, Economics, and International Trade and Finance
Political Geography:
China and India

345. Asia Society Center on US-China Relations Launch with Henry Kissinger and Orville Schell

Publication Date:
02-2007
Content Type:
Working Paper
Institution:
Asia Society
Abstract:
RICHARD HOLBROOKE: My name is Richard Holbrooke. I'm the Chairman of Asia Society and we welcome you to a very special, indeed we hope historic, evening in the fifty year history of the Asia Society. But before I make any other remarks I want to welcome just a handful of the many very distinguished guests in the room. We have Assistant Secretary of State for East Asian and Pacific Affairs, Chris Hill here, who many of you may have seen on television today and is on his way back to Beijing to continue the six party talks with the North Koreans. And we welcome him. We have the Consul General from New York of the People's Republic of China here in New York, Ambassador Liu. The acting ambassador in Washington from China, Ambassador Jian and Mrs. Jian and the Counselor of the Chinese Mission to the United Nations and many, many other distinguished people.
Topic:
International Relations and Development
Political Geography:
United States, China, New York, Washington, Beijing, East Asia, Asia, and North Korea

346. Regional Monetary Arrangements in ASEAN+3 as Insurance through Reserve Accumulation and Swaps

Author:
O.G. Dayaratna-Banda and John Whalley
Publication Date:
04-2007
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation (CIGI)
Abstract:
East Asia is witnessing the emergence of an informal monetary system which focuses on self-insurance through own reserve accumulation and co-insurance through swaps. The former is concentrated in a small number of large countries (China, Japan, and Korea), while the latter involves informal monetary cooperation among monetary authorities in a large number of countries. The origins of this system lie in the Asian financial crises, and reflect concerns both to avoid repetition of similar events and any spread of further crises through contagion effects. This paper first characterizes and documents this emerging system describing how it works and what its objectives are, and then discusses its performance, its incompleteness, and assesses the system's ability to move towards deeper integration without adopting a single monetary authority as well as the impediments it faces. What is clear is that this type of system among individual countries is incomplete and falls well short of complete monetary integration, but at present it performs well even if it experiences a number of deficiencies. Most countries seem better off with partial reserve pooling, while incremental gains from higher degrees of pooling in the region tend to be small.
Topic:
Development, Economics, and Regional Cooperation
Political Geography:
Japan, China, Asia, and Korea

347. EU Commercial Policy in a Multipolar Trading System

Author:
Simon Evenett
Publication Date:
04-2007
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation (CIGI)
Abstract:
In recent years, the bipolar multilateral trading system of the post-war years has given way to a multipolar alternative. Although many specifics have yet to be determined, some contours of this new trade policy landscape are coming into focus and in this short paper I examine their implications for the European Union's external commercial policy. Particular attention is given to both the state of business-government relations and the propensity to liberalise under the auspices of reciprocal trade agreements by Brazil, India, and China; the potential new poles of the world trading system. I consider the likely consequences of these developments, plus factors internal to both the European Union and the United States, for the possible con-tent of future multilateral trade initiatives.
Topic:
Development, Government, and International Trade and Finance
Political Geography:
United States, China, Europe, India, and Brazil

348. Technology Upgrading and China's Growth Strategy to 2020

Author:
John Whalley and Weimin Zhou
Publication Date:
03-2007
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation (CIGI)
Abstract:
It is widely believed in China that in order to meet the target of tripling gross domestic product (GDP) per capita between 2005 and 2020, as set out in China's 11th five-year plan in 2005, a change in China's growth strategy from FDI promotion and export-led growth towards technology upgrading and higher productivity growth in manufacturing needs to occur. This paper seeks to evaluate the potential effectiveness of recent government initiatives to be taken to achieve these ends. In particular, plans these include increased educational spending, tax incentives, large research and development (R) projects, and changes to the regulatory environment. In measuring China's economic growth potential towards 2020, this paper employs an economic analysis of Total Factor Productivity and identifies the importance of continued domestic technical innovation.
Topic:
International Relations, Development, and Science and Technology
Political Geography:
China and Asia

349. Consequences of an Emerging China: Is Development Space Disappearing for Latin America and the Caribbean?

Author:
Nicola Phillips
Publication Date:
01-2007
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation (CIGI)
Abstract:
The economic rise of China has caused a redrawing of global production and value chains, a restructuring of the global division of labour, and a restructuring of patterns of global demand and of the terms of trade. This paper examines the nature of the emerging economic relationship between Latin America and the Caribbean and China, and seeks to offer some reflections on the significance of this relationship for Latin American and Caribbean development. It begins with an overview of trade and investment relationships between Latin American countries and China, and examines the significance of the emergence of China for the region's development strategies and developmental prospects in greater detail. This paper reflects on the early impact of these emerging arrangements on the existing economic relationship between Latin America and the United States, and seeks in some ways to challenge understandings of this sort based on national economies and instead argues for a focus on global production and value chains, as well the new transnational division of labour.
Topic:
Development
Political Geography:
United States, China, America, Asia, Latin America, Central America, and Caribbean

350. Energy Sovereignty and Security

Author:
Greg Austin and Danila Bochkarev
Publication Date:
01-2007
Content Type:
Policy Brief
Institution:
EastWest Institute
Abstract:
Energy security has re-surfaced as a headline issue in the policy councils of Europe and the Americas in a way not seen since the 1970s. On the one hand, some leaders believe that there is a new energy rivalry with ominous geopolitical overtones, and they look at Russia and China with suspicion in this regard. On the other hand, at a more commercial level, there has been rising uncertainty about oil supply and demand, because of political instability in the Persian Gulf and rampant consumption in the major industrial countries and emerging economies. Price volatility, long a feature of the oil market, reached levels not seen for some years, leading to fresh concerns about 'peak oil'.
Topic:
Development, Energy Policy, Globalization, and Nationalism
Political Geography:
Russia, China, America, and Europe