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661. Reimagining International Society Through the Emergence of Japanese Imperialism

Author:
Shogo Suzuki
Publication Date:
11-2003
Content Type:
Working Paper
Institution:
Australian National University Department of International Relations
Abstract:
In the not too distant past Timothy Dunne asserted that '[International] society is what states have made of it'. Since then much has been written about how the English School offers a valuable interpretivist approach, how it has spread across the world, how it can be improved, and what it has to say about non-European societies and 'world society'. This paper aims to contribute to all three facets of the debate through a case study of how the Japanese elite understood international society during the bakumatsu (late-Tokugawa)/early-Meiji periods (1853-95). In doing so, it examines the emergence of Japanese imperialism from the perspective of international society as perceived by English School scholars.
Topic:
International Relations and Development
Political Geography:
United States, Japan, Europe, and Asia

662. Japanese Economic Stagnation: Still in Neutral

Author:
Edward Lincoln
Publication Date:
04-2003
Content Type:
Working Paper
Institution:
The Brookings Institution
Abstract:
One of the discouraging problems in Northeast Asia over the past decade has been the lengthy malaise in the Japanese economy and the inability of government, business, and the public to forge effective solutions. In the decade since 1992, the average annual real (inflation-adjusted) economic growth rate has been only one percent—positive but very low and punctuated by four recessions in which gross domestic product (GDP) fell for at least two consecutive quarters. The financial sector is weighed down under an enormous amount of non-performing loans that has only grown larger over time. Meanwhile, Japan has become the first industrial country since the 1930s to experience deflation—a decline in the overall price level.
Topic:
Economics, International Political Economy, and International Trade and Finance
Political Geography:
Japan, Asia, and Northeast Asia

663. Taiwan's Approach to Cross-Strait Relations

Author:
Ying-jeou Ma
Publication Date:
01-2003
Content Type:
Working Paper
Institution:
Aspen Institute
Abstract:
Civil war broke out between the Nationalist Kuomintang (KMT) Government of China and the Chinese Communist forces shortly after Japan surrendered to the Allied forces in 1945. Having occupied most of the country by mid-1949, the Chinese Communists proclaimed in Beijing the establishment of the People's Republic of China (PRC) on October 1, 1949. The Nationalist Government retreated to Taiwan, an island of 13,969 square miles just 90 miles off the coast of the Chinese Mainland, in December that year and continued to call itself the Republic of China (ROC). Sporadic battles continued in coastal areas of the Chinese Mainland.
Topic:
Foreign Policy and Government
Political Geography:
United States, Japan, China, Israel, Taiwan, Beijing, East Asia, Asia, and Island

664. Loans to Japanese Borrowers

Author:
David C. Smith
Publication Date:
07-2003
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
This paper examines the characteristics of loans to Japanese borrowers using a relatively unexplored, contract-specific data set. I find that Japanese banks charge less on loans to Japanese borrowers than do foreign banks, holding constant many of the risk characteristics of the borrower. Moreover, Japanese banks vary pricing less across these risks than do foreign banks, suggesting that Japanese banks tend not to distinguish good risks from bad. Taken together, the results suggest that problems at Japanese banks stem from the behavior of the banks themselves, not simply from poor economic conditions. I also document a significant shortening in the maturity structure of Japanese loans in the late 1990s.
Topic:
Economics, Emerging Markets, and International Trade and Finance
Political Geography:
Japan and Israel

665. Report on Allied Contributions to the Common Defense 2003

Publication Date:
09-2003
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
The Responsibility Sharing Report presents the Department of Defense's annual assessment of the relative contributions toward the common defense and mutual security by our NATO allies, our Pacific allies (Australia, Japan and the Republic of Korea), and the Gulf Cooperation Council (GCC) nations. The cornerstone of effective alliance relationships is the fair and equitable sharing of the full range of mutual security responsibilities, and the appropriate balancing of costs and benefits.
Topic:
Security, Defense Policy, and NATO
Political Geography:
Japan, Australia/Pacific, and Korea

666. Transmission of Information Across International Equity Markets

Author:
Jon Wongswan
Publication Date:
02-2003
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
This paper provides evidence of transmission of information from the U.S. and Japan to Korean and Thai equity markets during the period from 1995 through 2000. Information is defined as important macroeconomic announcements in the U.S., Japan, Korea, and Thailand. Using high-frequency intraday data, I focus the study on return volatility and trading volume because the implications of new information are much clearer than for returns. I find a large and significant association between emerging-economy equity volatility and trading volume and developed-economy macroeconomic announcements at short-time horizons. This is the first strong evidence of this sort of international information transmission. Previous studies' findings of at most weak evidence may be due to their use of lower frequency data and their focus on developed-economy financial market innovations as the measure of information.
Topic:
Economics and International Trade and Finance
Political Geography:
United States, Japan, Asia, Korea, and Thailand

667. When Will Russia Really Enter Northeast Asia?

Author:
Gilbert Rozman
Publication Date:
08-2003
Content Type:
Working Paper
Institution:
Liechtenstein Institute on Self-Determination, Princeton University
Abstract:
Russia needs to open the Russian Far East for regional integration and make use of its dynamism and vast natural resources. Initiatives of the past decade have demonstrated great sensitivity to the dangers of foreign presence, but little forward thinking on their positive contributions. Putin has advanced beyond Yeltsin, but there is still no vision of regionalism. A reorientation of Sino-Russian relations from strategic goals associated with multipolarity to economic cooperation in a multilateral context offers hope that a new approach is coming. Under the umbrella of globalization including closer relations with the U.S., Putin can more easily pursue regional integration as well. In 2002-03, the nuclear standoff between North Korea and the U.S. put regionalism on hold, while energy security achieved a new profile that gave Putin the opportunity to weigh offers from China, Japan, and the U.S., while asserting control over oligarch Mikhail Khodorovsky and his oil behemoth Yukos. Clearly, Putin planned to take firm charge of managing all dimensions of regionalism, but it was less clear if he would encourage market forces.
Topic:
Civil Society and Politics
Political Geography:
Russia, United States, Japan, China, Asia, and North Korea

668. Economic Survey of Japan, 2003

Publication Date:
12-2003
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
The current economic upturn does not diminish the urgency of continuing with fundamental reforms to lay the foundation for a robust and sustainable expansion strong enough to reverse the downward trend in Japanese living standards relative to other OECD countries and to restore price stability after nearly eight years of deflation. Given the negative implications of falling prices, the Bank of Japan should strengthen its quantitative easing policy by further expanding the range of assets it purchases. In addition, the effectiveness of monetary policy depends critically on resolving the problems in the banking and corporate sectors. The authorities should follow through on the objective of substantially reducing non-performing loans and revitalising the corporate sector, while ensuring that banks are adequately capitalised, using public money if necessary. Moreover, it is important to scale back the role of government financial institutions. Given the likely negative impact of accelerated bank and corporate-sector restructuring on activity and the need to ensure that the recovery is not ended prematurely, excessive fiscal policy tightening should be avoided, while any increase in revenue due to buoyant activity should be used to reduce the deficit. Achieving the moderate fiscal consolidation projected for 2004 is a key to building confidence in the longer-term sustainability of public finances, which also requires a credible consolidation plan for 2005 and the years beyond, including measures to limit spending and boost tax revenues. Moreover, it is essential to prevent increases in spending as a share of GDP, an objective that requires reform of pension and health care pro- grammes in the face of rapid population ageing. Given the constraints on macroeconomic policy, a successful programme to revitalise the economy will require a broad programme of structural reform, focused on strengthening competition to boost consumer welfare and improve the allocation of resources. To achieve such an outcome, competition policy should be improved by making the Fair Trade Commission stronger and more effective and by creating a framework conducive to competition in network industries that have been liberalised, such as telecommunications and energy. Expanded international trade, greater inflows of direct investment and removal of outdated regulations - accelerated through the recently created special zones - also have important roles to play in boosting competition. In sum, a broad-ranging programme of carefully designed macroeconomic policies and far-reaching structural reforms to enhance Japan's growth potential is needed.
Topic:
Agriculture, Economics, Environment, Human Rights, International Organization, and Political Economy
Political Geography:
Japan

669. Clean Air for Asia - China - India - Japan - United States Cooperation to Reduce Air Pollution in China and India

Author:
Richard L. Lawson, John R. Lyman, Donald L. Guertin, Tarun Das, Shinji Fukukawa, and Yang Jike
Publication Date:
07-2003
Content Type:
Policy Brief
Institution:
Atlantic Council
Abstract:
For China and India, rapid economic growth is imperative to alleviate poverty, raise income levels and improve their citizens' quality of life. In 2000, China and India's combined populations of 2.3 billion represented over 38 percent of the world's population. With both countries determined to grow their economies rapidly, there will be an associated rapid rise in energy demand. One of the most significant problems facing the two countries is the existing and increasing level of air pollution that will accompany growing energy consumption. This report focuses on the challenge of developing economic, energy, and environmental policies that will complement existing policies designed to reconcile the drive for economic growth with the need for greater environmental protection of air quality.
Topic:
Economics and Environment
Political Geography:
United States, Japan, China, India, and Asia

670. Missile Defense in Asia

Author:
Walter B. Slocombe, C. Richard Nelson, Michael P.C. Carns, and Jacques S. Gansler
Publication Date:
06-2003
Content Type:
Policy Brief
Institution:
Atlantic Council
Abstract:
The prospect of North Korea developing both nuclear weapons and long–range missiles has been at the core of the U.S. rationale for early deployment of a missile defense and of Japan's interest in defense for itself. In the face of North Korea's missile programs and its acknowledgement of an active program to develop nuclear weapons, the problem of defense against those weapons assumes new urgency — as does the question of how defenses affect the broader dynamic of security in Northeast Asia.
Topic:
Security and International Law
Political Geography:
United States, Japan, Asia, and North Korea