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6311. Composite Indexes of Leading, Coincident, and Lagging Indicators: February 2003

Publication Date:
02-2003
Content Type:
Policy Brief
Institution:
The Conference Board
Abstract:
The Conference Board announced today that the U.S. leading index decreased 0.4 percent, the coincident index held steady, and the lagging index decreased 0.1 percent in February.The leading index fell in February for the first time since September 2002. Uncertainty over war in Iraq, as well as severe winter weather in February, is reflected in the widespread weakness, particularly in stock prices, consumer expectations, and the labor market. Some of these weaknesses have persisted through March.More generally, the leading index has been fluctuating around a flat trend over the past 15 months with a balance between rising and falling components. The index fell in the third quarter of 2002, rose in the fourth quarter, and is now declining again in the first quarter.After flattening in the fourth quarter of last year, the coincident index, a measure of current economic activity, increased 0.2 in January and held that level in February (with a decline in employment offsetting the gains in income, production, and sales). At this point, the leading index is suggesting that economic growth may be on the sluggish side in the second quarter.
Topic:
Economics and Political Economy
Political Geography:
United States and Iraq

6312. Composite Indexes of Leading, Coincident, and Lagging Indicators: January 2003

Publication Date:
01-2003
Content Type:
Policy Brief
Institution:
The Conference Board
Abstract:
The Conference Board announced today that the U.S. leading index decreased 0.1 percent, the coincident index increased by 0.2 percent, and the lagging index decreased 0.1 percent in January.A sharp drop in claims for unemployment insurance offset the weak expectations of consumers in January. The leading index remains well above its peak prior to the 2001 recession and just below the previous high achieved in May 2002.The coincident index turned up again in January after pausing in the last quarter of 2002. This month's increase in the coincident index, the largest in six months, is consistent with the gains in the leading index late last year and reflects better current conditions in the beginning of this year.Barring any shock or prolonged uncertainty in the Middle East, the leading and coincident indexes point to a more robust pace of economic activity in the coming months.
Topic:
Economics and Political Economy
Political Geography:
United States

6313. Disenchanted Conscription: A Military Recruitment System in Need of Justification

Author:
Anna Leander
Publication Date:
06-2003
Content Type:
Working Paper
Institution:
Danish Institute for International Studies
Abstract:
The Economist's point of view is a widely shared one. It also seems warranted by current trends in policy-making in developed democracies. The US, the UK, the Netherlands, Belgium, Italy, Spain, and Portugal have abolished or are phasing out conscription. Even France, mother of citizens armies through the revolutionary levée en masse, just saw (literally as the event was broadcasted as a main feature of the evening television news) its last conscript leave the armed forces. The Nordic countries and Germany have not abolished conscription, but conscripts make up a shrinking share of the armed forces, which governments plan to shrink even further. For many observers this confirms that they simply lag behind. They will soon be brought to reason and abolish conscription. But this is a simplistic understanding of what determines the fate of conscription.
Topic:
Defense Policy, Government, and Peace Studies
Political Geography:
United States, United Kingdom, France, Belgium, Spain, Italy, Netherlands, and Portugal

6314. American Unilaterism, Foreign Economic Policy and the 'Securitisation' of Globalisation

Author:
Richard Higgott
Publication Date:
10-2003
Content Type:
Working Paper
Institution:
Centre for Non-Traditional Security Studies, S. Rajaratnam School of International Studies
Abstract:
This paper traces the 'securitisation' of US foreign economic policy since the advent of the Bush administration. It does so with reference to US economic policy in East Asia. It argues that in the context of US economic and military preponderance in the world order, the US has been able to resist the temptation to link foreign economic and security policy. While there was evidence of the securitisation of economic globalisation in US policy from day one of the Bush administration, it was 9/11 that firmed up this trend. For the key members of the Bush foreign policy team, globalisation is now seen not simply in neo-liberal economic terms, but also through the lenses of the national security agenda of the United States. Economic globalisation is now not only a benefit, but also a 'security problem'. 9/11 offered the opportunity for what we might call the 'unilateralist-idealists', in the Bush administration, to set in train their project for a post-sovereign approach to American foreign policy. The paper identifies some intellectual contradictions in current US strategy and raises a series of question about the implication for world order of the consolidation of the trends identified in the paper.
Topic:
Security, Economics, and Globalization
Political Geography:
United States, America, and East Asia

6315. In Search of 'Suitable Positions' in the Asia Pacific: Negotiating the U.S. China Relationship and Regional Security

Author:
Evelyn Goh
Publication Date:
09-2003
Content Type:
Working Paper
Institution:
Centre for Non-Traditional Security Studies, S. Rajaratnam School of International Studies
Abstract:
This paper argues that the crucial determinant of Asia-Pacific security is whether the US and China can negotiate their relationship and their relative positions and roles in such a way as to produce sustainable regional stability. It examines three alternative models to assess some of the possible processes and outcomes in negotiating Sino-American coexistence. (I) Power transition, in which there is a significant structural shift in the regional system as a rising China challenges US dominance, with a range of possible outcomes; (II) The maintenance of the status quo of US strategic dominance over the region, which China does not challenge concentrating instead on inernal consolidation and on developing its economic power; and (III) Negotiated change, by which the two powers coordinate to manage a more fundamental structural transformation, either through froming a concert (duet) of power, or by moving towards a regional security community. The paper suggests that Model II is likely for the short-to medium-term; Model III for the medium term; and Model I for the long term.
Topic:
Security
Political Geography:
United States, China, Israel, and Asia

6316. Examining the Role of Foreign Assistance in Security Sector Reforms: The Indonesian Case

Author:
Eduardo Lachica
Publication Date:
04-2003
Content Type:
Working Paper
Institution:
Centre for Non-Traditional Security Studies, S. Rajaratnam School of International Studies
Abstract:
Indonesia and the donor community are agreed that security sector reforms are needed to restore investor confidence and sustain the pace of economic recovery. However, donor-assisted programmes have had only a limited success so far and the army's post-Suharto reforms appeared to have ground to a halt. This paper offers some suggestions on how to restore the momentum for reform in the light of donor limitations, the military's historical circumstances and the current mood of intense nationalism. Donors should initiate a quiet Track II (non-official) dialogue with the military, the police, the civilian authorities and civil society to scope out a doable programme of cooperation. The issue of civilian supremacy should be dealt with pragmatically, allowing for a process of negotiation to find an effective working relationship between civilian and military authorities. The dialogue should frame the reform process as a burden for the entire society, reminding civilian leaders that they too have a responsibility to improve their performance and demonstrate their ability to oversee military affairs capably and fairly. Since U.S. assistance to the Indonesian military is likely to remain constrained, the paper proposes a "military donors club" that can expand the donor base and work informally with the World Bank-led Consultative Group on Indonesia. The dialogue should deal creatively and patiently with two of the most vexing issues relating to the army — restructuring its network of territorial commands and phasing out its controversial tradition of self-financing. This could be a difficult learning process for both sides of the civilian-military divide that could last a decade or more.
Topic:
Defense Policy, Economics, and International Trade and Finance
Political Geography:
United States, Indonesia, and Southeast Asia

6317. The Interpretation of American Images in Southeastern Europe: Transmission of Global Metaphors

Author:
Danica Skara
Publication Date:
02-2003
Content Type:
Working Paper
Institution:
Institute for European Studies at Cornell University
Abstract:
This paper explores the contemporary phenomenon of a global/American culture and its role in Europe, with special reference to the challenges faced by the developing countries of Southeastern Europe.
Political Geography:
United States and Europe

6318. Changing Korean Perceptions of the Post-Cold War Era and the U.S.-ROK Alliance

Author:
Choong Nam Kim
Publication Date:
04-2003
Content Type:
Policy Brief
Institution:
East-West Center
Abstract:
For half a century the United States and South Korea have been united in an alliance that has simultaneously contained North Korea and projected American power into Northeast Asia. Now that alliance is being questioned by many South Koreans, whose country has developed from a poor, authoritarian state into the world's 11th largest economy and a vital democracy. Along the way South Koreans' views of themselves and of other nations have changed. Improved relations with China and Russia, and a policy of engagement with North Korea, have reduced the country's dependence on the United States and South Koreans' tolerance for what they view as American arrogance and unilateralism. Indeed, Koreans today view their Cold War allies (the United States and Japan) more negatively than their Cold War enemies (North Korea and China), a situation that would have been unimaginable a decade ago. The poorly coordinated North Korea policy of Seoul and Washington appears to be a direct cause of anti-Americanism, which will grow unless the two countries develop a more equal, mutually acceptable relationship.
Topic:
Cold War
Political Geography:
Russia, United States, China, Israel, South Korea, and North Korea

6319. EU cooperative threat reduction activities in Russia

Author:
Burkard Schmitt
Publication Date:
06-2003
Content Type:
Working Paper
Institution:
European Union Institute for Security Studies
Abstract:
To strengthen the security structure of an erstwhile enemy, and a country that hard-nosed defence analysts and military planners - think of the last two US Nuclear Posture Reviews – still view as a potential threat, is quite an unorthodox and innovative way to address one's own security concerns. Yet cooperative threat reduction (CTR) has become part and parcel of Western security policy. A considerable number of NATO and European Union (EU) member states are involved in this sort of activity, as is the EU itself, including its most genuinely European actor, the European Commission (EC).
Topic:
International Cooperation and Weapons of Mass Destruction
Political Geography:
Russia, United States, Europe, and Soviet Union

6320. Europe between Brussels and Byzantium: Some Thoughts on European Integration

Author:
Niall Ferguson
Publication Date:
11-2003
Content Type:
Working Paper
Institution:
Institute of European Studies
Abstract:
There is, in theory, a plausible role for the European Union as the partner of a militarily assertive United States: the peacekeeper that follows in the wake of the peacemaker. The war in Iraq, however, has raised the possibility of a diametrically different role for Europe: as a potential imperial rival to the United States. There is no need to invoke the memory of either Rome or Byzantium to make the case that Europe is capable of spoiling America's unipolar party. The successful conclusion of accession agreements with ten new member countries – not to mention the sustained appreciation of the euro against the dollar since Kennedy's article appeared – have seemingly vindicated this analysis. So too, in the eyes of some commentators, has the vociferous and not wholly ineffectual opposition of at least some E.U. member states to American policy in Iraq. If the U.S. has an imperial rival today, then the E.U. appears to be it.
Topic:
International Relations and War
Political Geography:
United States, Iraq, Europe, Rome, and Brussels