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5001. China's Currency: Not the Problem

Author:
Albert Keidel
Publication Date:
06-2005
Content Type:
Policy Brief
Institution:
Carnegie Endowment for International Peace
Abstract:
In Washington, politicians and pundits have settled on a single magical solution for the country's economic ills: getting China to revalue its currency, the RMB. By any reasonable economic measure, however, the RMB is not undervalued. China does have a trade surplus with the United States, but it has a trade deficit with the rest of the world. And China's accumulation of dollar reserves is not the result of trade surpluses, but of large investment inflows caused in part by speculators' betting that China will yield to U.S. pressure. Focusing on China's currency is a distraction. If the United States wants to improve its economy for the long haul, it had best look elsewhere beginning with raising the productivity of American workers.
Topic:
Economics and Government
Political Geography:
United States, China, America, Washington, and Asia

5002. Judicial Reform in China: Lessons from Shanghai

Author:
Veron Mei-Ying Hung
Publication Date:
04-2005
Content Type:
Policy Brief
Institution:
Carnegie Endowment for International Peace
Abstract:
The George W. Bush administration in September 2002 laid out in the “National Security Strategy of the United States” its strategy toward China: “We welcome the emergence of a strong, peaceful, and prosperous China.” During a trip to Asia in March 2005, Secretary of State Condoleezza Rice adopted a similar phrase to welcome “the rise of a confident, peaceful, and prosperous China.”
Topic:
International Relations and Politics
Political Geography:
United States, China, Shanghai, and Asia

5003. Judicial Reform in China: Lessons from Shanghai

Author:
Veron Mei-Ying Hung
Publication Date:
04-2005
Content Type:
Working Paper
Institution:
Carnegie Endowment for International Peace
Abstract:
The George W. Bush administration in September 2002 laid out in the “National Security Strategy of the United States” its strategy toward China: “We welcome the emergence of a strong, peaceful, and prosperous China.” During a trip to Asia in March 2005, Secretary of State Condoleezza Rice adopted a similar phrase to welcome “the rise of a confident, peaceful, and prosperous China.”
Topic:
International Relations, Development, and Government
Political Geography:
United States, China, Shanghai, and Asia

5004. China and Taiwan: Uneasy Détente

Publication Date:
09-2005
Content Type:
Working Paper
Institution:
International Crisis Group
Abstract:
After drifting toward crisis for much of 2004, the outlook for stability across the Taiwan Strait has improved. Constraints on Taiwan pursuing pro-independence initiatives that risk conflict with China will likely remain strong through to the end of President Chen Shui-bian's term of office in 2008. These include a reinvigorated political opposition and Chinese initiatives that have won some poplar support in Taiwan and weakened the drive for independence. Most importantly, the U.S. appears determined to deter not only a Chinese attack but also provocative Taiwan independence moves.
Topic:
International Relations and Politics
Political Geography:
United States, China, Taiwan, and Asia

5005. 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

5006. Balancing act: Taiwan's cross-strait challenge

Author:
Malcolm Cook and Craig Meer
Publication Date:
04-2005
Content Type:
Working Paper
Institution:
Lowy Institute for International Policy
Abstract:
Taiwan is in the middle of a deep social transformation that is redefining the way its people identify themselves, how it sees its place in the world and, most urgently, its relationship with China. Taiwan's metamorphosis, and China's reaction to it, are making it more difficult to maintain peace across the Taiwan Strait. Washington and its regional allies, including Australia, need to understand these changes better and to incorporate responses to them into their policies.
Topic:
International Relations and Democratization
Political Geography:
China, Washington, Taiwan, Asia, and Australia

5007. Prospects for Regional Free Trade in Asia

Author:
Gary Clyde Hufbauer and Yee Wong
Publication Date:
10-2005
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics (PIIE)
Abstract:
Frustrated with lackluster momentum in the WTO Doha Round and the Asia Pacific Economic Cooperation (APEC) forum, and mindful of free trade agreement (FTA) networks centered on the United States and Europe, Asian countries have joined the FTA game. By 2005, Asian countries (excluding China) had ratified 14 bilateral and regional FTAs and had negotiated but not implemented another seven. Asian nations are also actively negotiating some 23 bilateral and regional FTAs, many with non-Asian partners, including Australia, Canada, Chile, the European Union, India, and Qatar. China has been particularly active since 2000. It has completed three bilateral FTAs—Thailand in 2003 and Hong Kong and Macao in 2004—and is initiating another 17 bilateral and regional FTAs. However, a regional Asian economic bloc led by China seems distant, even though China accounts for about 30 percent of regional GDP. As in Europe and the Western Hemisphere, many Asian countries are pursuing FTAs with countries outside the region. On present evidence, the FTA process embraced with some enthusiasm in Asia, Europe, and the Western Hemisphere more closely resembles fingers reaching idiosycratically around the globe rather than politico-economic blocs centered respectively on Beijing, Brussels, and Washington.
Topic:
Economics, International Trade and Finance, and Regional Cooperation
Political Geography:
United States, China, Europe, Washington, Canada, India, Beijing, Asia, Australia, Qatar, Chile, Hong Kong, Brussels, and Macao

5008. What Might the Next Emerging-Market Financial Crisis Look Like?

Author:
Morris Goldstein and Anna Wong
Publication Date:
07-2005
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics (PIIE)
Abstract:
This paper addresses the following question: If a financial crisis affecting a group of emerging economies were to take place sometime over the next three years, where would the crisis likely originate, how could it be transmitted to other economies, and which economies would be most affected by particular transmission or contagion mechanisms? A set of indicators is presented to gauge the vulnerability of individual emerging economies to various shocks, including a slowdown in import demand in both China and the United States, a fall in primary commodity prices, increased costs and lower availability of external financing, alternative patterns of exchange rate changes, and pressures operating on monetary and fiscal policies in emerging economies.
Topic:
Economics, Emerging Markets, Globalization, and International Trade and Finance
Political Geography:
United States and China

5009. The Chinese Economy: Prospects and Key Policy Issues

Author:
Morris Goldstein
Publication Date:
04-2005
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics (PIIE)
Abstract:
No abstract is available.
Topic:
Economics, Industrial Policy, and International Trade and Finance
Political Geography:
China and Asia

5010. Global Economic Prospects: Slower But Still Solid Growth in 2005; Worries About Growth and Inflation for 2006

Author:
Michael Mussa
Publication Date:
04-2005
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics (PIIE)
Abstract:
After surging to the highest growth rate in a generation, world real GDP is set to slow from a rate of just over 5 percent for 2004 to about 4 percent for 2005 and a tad slower for 2006. The economic slowdowns in several important economies in the second half of last year, including much of continental Europe and Japan, already make it clear that year-over-year growth will slow for 2005. But the continued strong growth of domestic demand in other countries, most notably the United States and China, virtually assures that global growth this year will not fall below potential.
Topic:
Economics and International Trade and Finance
Political Geography:
United States, Japan, China, Europe, Israel, and East Asia