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241. China in the Pacific: the new banker in town

Author:
Fergus Hanson and Mary Fifita
Publication Date:
04-2011
Content Type:
Policy Brief
Institution:
Lowy Institute for International Policy
Abstract:
What is the problem? China is now one of the Pacific\'s major donors. An analysis of its aid program in the region from 2005 to 2009 suggests it is reducing the grant component of its aid and increasing the soft loan proportion. China has pledged over $US 600 million to the Pacific since 2005 and debt burdening will become increasingly pressing as Chinese loans accumulate and the five-year grace periods expire. There appears to have been limited progress improving transparency.
Topic:
Economics and International Trade and Finance
Political Geography:
China, Asia, and Australia/Pacific

242. Asia's Energy Future: Regional Dynamics and Global Implications

Author:
Kang Wu and Fereidun Fesharaki
Publication Date:
06-2011
Content Type:
Working Paper
Institution:
East-West Center
Abstract:
Energy security ranks as one of the highest-priority issues in Asia and the Pacific. The East and South Asia region is the fastest-growing oil consumer in the world, and because this region has such a small percentage of the world's oil reserves, it is the most highly dependent on oil imports of any world region. In the future, Asia will become even more dependent on imports as its energy needs expand with changing life styles and overall economic growth. Asia's increasing energy needs have important implications for energy security throughout the world, and particularly in the United States. Like Asia, the United States is a large and growing importer of crude oil and petroleum products. It is also becoming a direct competitor with the East Asian economies for imported liquefied natural gas (LNG). This volume is intended to provide Asians and Americans with the factual information they need for clear understanding, informed policy dialogue, and effective cooperation on issues related to energy security. The United States and Asia have much in common in terms of their basic energy situation. Both regions have enormous hydrocarbon reserves in the form of coal, but both must import huge quantities of liquid hydrocarbons in the forms of oil and natural gas. The United States has an economy and a life style highly dependent upon imported energy, and increasingly, so does Asia. The environmental implications of energy use are of growing concern in both regions. Both share a common stake in an assured supply of oil and natural gas, in price stability in international energy markets, in efficient and sustainable use of oil and gas products, and in the development of technologies and fuel alternatives that can alleviate energy security and environmental concerns.
Topic:
Security, Development, Economics, Energy Policy, and Oil
Political Geography:
United States and Asia

243. Why and how least developed countries can receive more FDI to meet their development goals

Author:
Ken Davies
Publication Date:
06-2011
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
The 48 least-developed countries (LDCs), most of them in sub-Saharan Africa and a few in Asia, need foreign direct investment (FDI) to help meet their development targets. The FDI they now receive, although inadequate, is enough to demonstrate that investors see potential in them. It is therefore realistic for LDCs to seek more FDI, but they need to enhance their investment environments to attract it in the much greater quantities required. Donors can help by targeting official development assistance (ODA) on investment in human capital and supporting governance improvements. Meanwhile, LDCs should establish effective investment promotion agencies (IPAs).
Topic:
Development, Economics, Poverty, Foreign Aid, and Foreign Direct Investment
Political Geography:
Africa and Asia

244. Good News and Bad News from the Korean Peninsula

Author:
Donald P. Gregg
Publication Date:
04-2011
Content Type:
Journal Article
Institution:
Council of American Ambassadors
Abstract:
The good news out of the Koreas is that President Barack Obama, as no other president before him, has recognized that South Korea is America's most reliable and active ally in Asia. The President mentioned South Korea in his January 25 State of the Union speech far more than any other country, praising its teachers, its technical prowess, its growing economic status, and urging quick ratification of the Korea-US Free Trade Agreement. If any further proof of Seoul's current status was needed, David Sanger in The New York Times of February 20, 2011, said flatly, “South Korea…is now Washington's favorite ally in Asia.”
Topic:
Economics and Treaties and Agreements
Political Geography:
United States, New York, Washington, Asia, South Korea, and Sinai Peninsula

245. Sovereign Wealth Funds: Is Asia Different?

Author:
Edwin M. Truman
Publication Date:
06-2011
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
Sovereign wealth funds (SWFs) have become a prominent feature of the international financial landscape. They are sufficiently diverse in their origins, structures, and objectives that generalizations are perilous. However, legitimate concerns have been raised in home and host countries about the management, behavior, and interactions of these funds. Many of those concerns can be addressed via increased accountability and transparency. The Santiago Principles are a good start in doing so, but Edwin M. Truman's SWF scoreboard points to areas where these principles can be improved. Meanwhile, SWF compliance must be further increased. At the same time, the Organization for Economic Cooperation and Development (OECD) effort to address concerns from the host-country side has not resulted in the erection of new barriers to that form of cross-border investment, but the OECD failed to reverse the creeping financial protectionism of the past decade. Because of their size and the source of their funding, some Asian funds are different. As a result, they will be held to a higher standard of accountability and transparency even as their government owners press for more openness to cross-border investment.
Topic:
Economics, Emerging Markets, and International Trade and Finance
Political Geography:
Asia

246. Regional Development Banks (ABCs of the IFIs Brief)

Author:
Jenny Ottenhoff
Publication Date:
09-2011
Content Type:
Policy Brief
Institution:
Center for Global Development
Abstract:
The regional development banks (RDBs) are multilateral financial institutions that provide financial and technical assistance for development in low- and middle-income countries within their regions. Finance is allocated through low-interest loans and grants for a range of development sectors such as health and education, infrastructure, public administration, financial and private-sector development, agriculture, and environmental and natural resource management. The term RDB usually refers to four institutions:
Topic:
Development, Economics, Foreign Aid, and Foreign Direct Investment
Political Geography:
Africa, Europe, and Asia

247. Leadership Selection at the International Financial Institutions

Author:
Jenny Ottenhoff
Publication Date:
09-2011
Content Type:
Policy Brief
Institution:
Center for Global Development
Abstract:
The International Financial Institutions (IFIs) are multilateral agencies. The term typically refers to the International Monetary Fund (IMF), which provides financing and policy advice to member nations experiencing economic difficulties, and the multilateral development banks (MDBs), which provide financing and technical support for development projects and economic reform in low- and middle-income countries. The term MDB is usually understood to mean the World Bank and four smaller regional development banks: African Development Bank (AfDB). Asian Development Bank (ADB). European Bank for Reconstruction and Development (EBRD) Inter-American Development Bank (IDB).
Topic:
Development, Economics, International Monetary Fund, Foreign Aid, and World Bank
Political Geography:
Africa, America, Europe, and Asia

248. Australia-US Alliance Enhanced as Economies Decouple

Author:
Graeme Dobell
Publication Date:
09-2011
Content Type:
Journal Article
Journal:
Comparative Connections
Institution:
Center for Strategic and International Studies
Abstract:
Australia has a close alliance with the US and deep emotional and cultural ties, but the new reality is that the two economies have decoupled. Twice in the past decade the US has gone into recession, but Australia has kept growing; that is a huge change from the 20th-century experience when Australia's fortunes were closely tied to the health of the US economy. Asia now sets Australia's economic temperature, even as the Australian military draws closer to the US through parallel reviews of the posture of their defense forces.
Topic:
Economics
Political Geography:
United States, Asia, and Australia

249. Cooperation, Competition, and the Search for Community: Asia's New Multilateralism

Author:
Sheldon W. Simon
Publication Date:
09-2011
Content Type:
Journal Article
Journal:
International Relations of the Asia-Pacific
Institution:
Japan Association of International Relations
Abstract:
A successful edited volume not only requires that the editors recruit qualified specialists for each chapter but also that those editors integrate the separate analyses so that the book displays a coherence beyond the sum of its individual parts. Michael Green and Bates Gill have succeeded admirably on both dimensions: enlisting renowned Asian country specialists and experts on the various types of cooperation that characterize Asian multilateralism. Moreover, their Introduction illuminates how these types relate to one another. Over the past 45 years, Asia has experienced a plethora of multilateral political, economic, and security arrangements – some long-lived and well-institutionalized (ASEAN) and others formed to deal with a specific situation such as the Core Group that provided aid to those countries devastated by the December 2004 tsunami. There is considerable overlap in states ' memberships among these bodies, though they tend to group in a Southeast Asian-led formation centered in ASEAN and a Northeast Asian coterie dealing with North Korea in the Six-Party Talks. An additional transnational dimension may be found in nontraditional security such as infectious diseases, criminal and terrorist activities, piracy and human trafficking, all of which cross national boundaries and are generally seen by Asian states as susceptible to cooperative action. Traditional, hard security concerns – territorial disputes, historical animosities, and resource conflicts – on the other hand, though discussed in a number of multilateral settings, produce a great deal of rhetoric but very little resolution. Another concern, especially for great powers such as the United States and India, is whether East Asian multilateral groups will be inclusive or exclusive – trans-Pacific or Asia only.
Topic:
Economics, Globalization, and National Security
Political Geography:
United States, Japan, and Asia

250. Energy Interests of the 'Great Powers' in Central Asia: Cooperation or Conflict?

Author:
Shamil Midkhatovich Yenikeyeff
Publication Date:
09-2011
Content Type:
Journal Article
Journal:
The International Spectator
Institution:
Istituto Affari Internazionali
Abstract:
The geographic proximity of Central Asia to Russia, China, the Caucasus and the Caspian region, as well as to the Middle East, makes this oil and gas-producing region a crucial and ever-developing player in regional and global energy markets. The method by which Central Asian producers choose to develop their hydrocarbon resources and export infrastructure will have significant implications for the plans for diversification of oil and gas supplies of Europe, China and India, as well as for Russia's energy exports to Europe. It is still too early to tell whether the economic and political incentives are strong enough to promote cooperation between the various actors or whether the energy interests of these key external powers are so diverse as to clash in Central Asia.
Topic:
Economics
Political Geography:
Russia, China, Europe, Central Asia, and Asia