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2772. The Syndrome of the Ever-Higher Yen, 1971-95: American Mercantile Pressure on Japanese Monetary Policy
- Author:
- Ronald McKinnon, Kazuko Shirono, and Kenichi Ohno
- Publication Date:
- 12-1996
- Content Type:
- Working Paper
- Institution:
- Walter H. Shorenstein Asia-Pacific Research Center
- Abstract:
- From 1971 through mid-1995, the yen continually appreciated against the U.S. dollar because the Japanese and American governments were caught in a mutual policy trap. Repeated threats of a trade war by the United States caused the yen to ratchet up in 1971-73, 1977-78, 1985-87, and 1993 to mid-1995. While temporarily ameliorating commercial tensions, these great appreciations imposed relative deflation on Japan without correcting the trade imbalance between the two countries. Although resisting sharp yen appreciations in the short run, the Bank of Japan validated this syndrome of the ever-higher yen by following a monetary policy that was deflationary relative to that established by the U.S. Federal Reserve System. The appreciating yen was a forcing variable in determining the Japanese price level. After 1985, this resulted in great macroeconomic instability in Japan--including two endaka fukyos (high-yen-induced recessions).
- Topic:
- Economics, International Political Economy, and International Trade and Finance
- Political Geography:
- United States, Japan, America, Israel, and East Asia
2773. A United States Policy for the Changing Realities of East Asia
- Author:
- Donald Emmerson, Henry Rowen, Michel Oksenberg, Daniel Okimoto, James Raphael, Thomas Rohlen, and Michael H. Armacost
- Publication Date:
- 01-1996
- Content Type:
- Working Paper
- Institution:
- Walter H. Shorenstein Asia-Pacific Research Center
- Abstract:
- Since the end of the Cold War, the power and prestige of the United States in East Asia have suffered a worrisome degree of erosion. The erosion is, in part, the by-product of long-run secular trends, such as structural shifts in the balance of power caused by the pacesetting growth of East Asian economies. But the decline has been aggravated by shortcomings in U.S. policy toward East Asia, particularly the lack of a coherent strategy and a clear-cut set of policy priorities for the post-Cold War environment. If these shortcomings are not corrected, the United States runs the risk of being marginalized in East Asia--precisely at a time when our stakes in the region are as essential as those in any area of the world. What is needed, above all, is a sound, consistent, and publicly articulated strategy, one which holds forth the prospect of serving as the basis for a sustainable, nonpartisan domestic consensus. The elements of an emerging national consensus can be identified as follows:
- Topic:
- International Relations, Security, Foreign Policy, and Economics
- Political Geography:
- United States, China, Israel, East Asia, and Asia
2774. Military Doctrine and Political Participation: Toward a Sociology of Strategy
- Author:
- Yagil Levy
- Publication Date:
- 01-1996
- Content Type:
- Working Paper
- Institution:
- Center for Studies of Social Change
- Abstract:
- Wars produce contrasting effects on the state's status in the domestic arena: they bolster its internal control but, at the same time, create opportunities for collective action of which domestic groups can take advantage and weaken state autonomy. As the case of Israel suggests, within the confines of geo-political constraints, states modify their military doctrine to balance the two contradictory impacts. The main purpose of the paper is to lay the foundation for a Sociology of Strategy by drawing on the case of Israel.
- Topic:
- Defense Policy, Government, and Politics
- Political Geography:
- Middle East and Israel
2775. Peace Among States Is Also Peace Among Domestic Interests: Israel's Turn To De-escalation
- Author:
- Yagil Levy
- Publication Date:
- 06-1995
- Content Type:
- Working Paper
- Institution:
- Center for Studies of Social Change
- Abstract:
- Demilitarization and de-escalation of violent conflicts have seemed to prevail during the last decade. The most significant event -- the collapse of the Soviet Union with the end of the Cold War--has stimulated scholars of international relations (IR) to retest the power of major theories to both explain and forecast the shift in the Soviet Union' 5 foreign policy from competition to cooperation with the U.S. (similar to shifts undergone by other states). Scholars generally agree that the economic crisis in the Soviet Union in a world system dominated by the U.S. played a key role in the former superpower's failure to extract the domestic resources needed to maintain its position of rivalry vis-à-vis the U.S., thus propelling it to embark on a new road. Still, scholars have debated with respect to the shift's timing and the origins of the trajectory opted for by the Soviet Union toward cooperation relative to other options, such as further competition as a means of ongoing internal-state extraction and control. This debate also highlights the analytical weaknesses of the realism/neorealism school of thought when taken against the background of the collapse of the bipolar, competitive world system on which this school has staked so much.
- Topic:
- Conflict Resolution, Defense Policy, Diplomacy, and Ethnic Conflict
- Political Geography:
- United States, Middle East, Israel, and Soviet Union
2776. How Militarization Drives Political Control of the Military: The Case of Israel
- Author:
- Yagil Levy
- Publication Date:
- 12-1995
- Content Type:
- Working Paper
- Institution:
- Center for Studies of Social Change
- Abstract:
- Observation of state-military relations in Israel reveals an apparent paradox: Within a period of about seventy years, the more the militarization of Israeli society and politics gradually increased, the more politicians were successful in institutionalizing effective control over the Israel Defence Forces (IDF, and the pre-state organizations). Militarization passed through three main stages: (1) accepting the use of force as a legitimate political instrument during the pre-state period (1920-1948), subsequent to confrontation between pacifism and activism; (2) giving this instrument priority over political-diplomatic means in the state's first years up to the point in which (3) military discursive patterns gradually dominated political discourse after the 1967 War. At the same time, political control over the IDF was tightened, going from the inculcation of the principle of the armed forces' subordination to the political level during the pre-state period to the construction of arrangements working to restrain the military leverage for autonomous action.
- Topic:
- Security, Defense Policy, and Government
- Political Geography:
- Middle East and Israel
2777. Political Identities
- Author:
- Charles Tilly
- Publication Date:
- 05-1995
- Content Type:
- Working Paper
- Institution:
- Center for Studies of Social Change
- Abstract:
- Observation of state-military relations in Israel reveals an apparent paradox: Within a period of about seventy years, the more the militarization of Israeli society and politics gradually increased, the more politicians were successful in institutionalizing effective control over the Israel Defence Forces (IDF, and the pre-state organizations). Militarization passed through three main stages: (1) accepting the use of force as a legitimate political instrument during the pre-state period (1920-1948), subsequent to confrontation between pacifism and activism; (2) giving this instrument priority over political-diplomatic means in the state's first years up to the point in which (3) military discursive patterns gradually dominated political discourse after the 1967 War. At the same time, political control over the IDF was tightened, going from the inculcation of the principle of the armed forces' subordination to the political level during the pre-state period to the construction of arrangements working to restrain the military leverage for autonomous action.
- Topic:
- Education, Industrial Policy, and Politics
- Political Geography:
- United Kingdom, Europe, and Israel
2778. Maritime Jurisdiction in the Three China Seas
- Author:
- Ju Guoxing
- Publication Date:
- 10-1995
- Content Type:
- Working Paper
- Institution:
- University of California Institute on Global Conflict and Cooperation (IGCC)
- Abstract:
- The three China Seas (the Yellow Sea, the East China Sea, and the South China Sea) are all enclosed or semi-enclosed and studded with so many offshore and mid-ocean islands that nowhere does the distance from one headland or island to another approach 400 nautical miles. With the extension of national jurisdiction over maritime resources, no seabed in the area is left unclaimed.
- Topic:
- International Law and Sovereignty
- Political Geography:
- China, Israel, and Southeast Asia
2779. Realism and Regionalism: American Power and German and Japanese Institutional Strategies During and After the Cold War
- Author:
- Joseph M. Grieco
- Publication Date:
- 04-1990
- Content Type:
- Working Paper
- Institution:
- Institute of European Studies (IES), UC Berkeley
- Abstract:
- Germany's foreign economic policy places enormous weight on formal European institutions. In contrast, Japan has not had an institutionalist orientation in regard to its East Asian neighbors. This paper addresses the question of why Germany and Japan differ so greatly on this issue of regional economi. institutions. It suggests that the differences observed in German and Japanese interests in regard to such arrangements constitute a puzzle if they are examined from the perspective of liberal ideas about the functional bases of international collaboration, or from the viewpoint of realist propositions about hegemony and cooperation and about the impact of polarity on state preferences. The paper also puts forward a realist-inspired analysis (focusing on American power in the post-Cold War era as well as American national strategy in the early years of that conflict) that might help account for the strong German bias in favor of regional economic institutions and the equally pronounced Japanese aversion to date for such arrangements.
- Topic:
- Foreign Policy, Cold War, and International Organization
- Political Geography:
- United States, Japan, America, Europe, Israel, East Asia, Asia, and Germany