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152. China's $1.7 Trillion Bet: China's External Portfolio and Dollar Reserves
- Author:
- Brad W. Setser and Arpana Pandey
- Publication Date:
- 01-2009
- Content Type:
- Working Paper
- Institution:
- Council on Foreign Relations
- Abstract:
- China reported $1.95 trillion in foreign exchange reserves at the end of 2008. This is by far the largest stockpile of foreign exchange in the world: China holds roughly two times more reserves than Japan, and four times more than either Russia or Saudi Arabia. Moreover, China's true foreign port- folio exceeds its disclosed foreign exchange reserves. At the end of December, the State Administration of Foreign Exchange (SAFE)—part of the People's Bank of China (PBoC) managed close to $2.1 trillion: $1.95 trillion in formal reserves and between $108 and $158 billion in “other foreign assets.” China's state banks and the China Investment Corporation (CIC), China's sovereign wealth fund, together manage another $250 billion or so. This puts China's total holdings of foreign assets at over $2.3 trillion. That is over 50 percent of China's gross domestic product (GDP), or roughly $2,000 per Chinese inhabitant.
- Topic:
- International Relations, Debt, Economics, Emerging Markets, and International Trade and Finance
- Political Geography:
- Russia, United States, China, Israel, Asia, and Saudi Arabia
153. WSC 5: Protecting People, Economies, and Infrastructure
- Author:
- Christine Lynch, Devon Tucker, Michael Harvey, and Jacqueline McLaren Miller
- Publication Date:
- 02-2009
- Content Type:
- Policy Brief
- Institution:
- EastWest Institute
- Abstract:
- Drawing on a diverse array of opinions from Africa, Asia, Europe, and North America, the EastWest Institute's Fifth Worldwide Security Conference brought together specialists from the spheres of policy, academia, and civil society. Participants addressed a variety of issues on the contemporary global security landscape. These ranged from specific security threats (whether illicit trade, the targeting of critical infrastructure or cyber crime) to the role of interested actors (such as business, NGOs, and media), as well as a focus on potential strategies to counter terrorism and extremism (either in terms of constructing global cooperative architectures or, more controversially, the possibility of opening dialogue with the terrorists). A variety of policy recommendations emerged from each session—detailed in the main body of the report—but there were several recurring themes binding the debate together and animating the core arguments of proceedings as a whole. These policy recommendations were not necessarily consensus recommendations but reflected a wide range of debated policy prescriptions.
- Topic:
- International Relations, Security, Economics, Education, Globalization, Human Rights, International Security, and Political Theory
- Political Geography:
- Africa, Europe, Asia, and North America
154. Turkey and Armenia: Opening Minds, Opening Borders
- Publication Date:
- 04-2009
- Content Type:
- Working Paper
- Institution:
- International Crisis Group
- Abstract:
- Turkey and Armenia are close to settling a dispute that has long roiled Caucasus politics, isolated Armenia and cast a shadow over Turkey's European Union (EU) ambition. For a decade and a half, relations have been poisoned by disagreement about issues including how to address a common past and compensate for crimes, territorial disputes, distrust bred in Soviet times and Armenian occupation of Azerbaijani land. But recently, progressively intense official engagement, civil society interaction and public opinion change have transformed the relationship, bringing both sides to the brink of an historic agreement to open borders, establish diplomatic ties and begin joint work on reconciliation. They should seize this opportunity to normalise. The politicised debate whether to recognise as genocide the destruction of much of the Ottoman Armenian population and the stalemated Armenia-Azerbaijan conflict over Nagorno-Karabakh should not halt momentum. The U.S., EU, Russia and others should maintain support for reconciliation and avoid harming it with statements about history at a critical and promising time.
- Topic:
- International Relations, Diplomacy, Genocide, Regional Cooperation, and Treaties and Agreements
- Political Geography:
- Russia, United States, Europe, Turkey, Caucasus, Asia, Soviet Union, Armenia, and Azerbaijan
155. China-Korea Relations
- Author:
- See-Won Byun
- Publication Date:
- 01-2009
- Content Type:
- Journal Article
- Journal:
- Comparative Connections
- Institution:
- Center for Strategic and International Studies
- Abstract:
- High-level interaction between Presidents Hu Jintao and Lee Myung-bak continues to intensify following the upgrading of the Sino-South Korean relationship to a “strategic cooperative partnership” in August of 2008. The increase in the number of meetings between top leaders is in part a by-product of the proliferation of regional forums in which China and South Korea both have membership and in part an affirmation of the rising importance of the relationship to both sides. This quarter Hu and Lee participated in the Asia-Europe Meeting (ASEM) in Beijing in October as well as the G20 meeting in Washington and the Asia Pacific Economic Cooperation (APEC) forum in Peru in November. Lee and Premier Wen Jiabao also met as part of the first trilateral meeting among Chinese, South Korean, and Japanese leaders held in Fukuoka in mid-December. In contrast, Chinese and North Korean leaders rarely meet these days, and Chinese officials confess ignorance regarding the health of Kim Jong-il despite being North Korea's closest of neighbors.
- Topic:
- International Relations and Foreign Policy
- Political Geography:
- China, Europe, Beijing, Asia, South Korea, and Korea
156. Japan-China Relations Chronology
- Publication Date:
- 01-2009
- Content Type:
- Journal Article
- Journal:
- Comparative Connections
- Institution:
- Center for Strategic and International Studies
- Abstract:
- No abstract is available.
- Topic:
- International Relations and Government
- Political Geography:
- United States, Japan, China, Europe, and Asia
157. Japan between Alliance and Community
- Author:
- Yul Sohn
- Publication Date:
- 08-2009
- Content Type:
- Working Paper
- Institution:
- East Asia Institute (EAI)
- Abstract:
- In a series of town hall meetings during the winter of 2005–2006, Aso Taro, then Minister of Foreign Affairs under the Koizumi cabinet, introduced an interesting concept of Japan’s role in Asia. Japan can and should play the role of a “thought leader,” who through fate has been forced to face certain very difficult issues earlier than others. Because Japan has put great effort, both monetarily and socio-politically, into resolving issues that include ultra-nationalism, an aging society, and environmental protection, it has become the forerunner for other Asians to emulate (Aso 2005). This role as a soft power leader contrasts with the existing hard power–oriented (i.e., economic) discourse of international contribution as well as the conventional soft power discourse that is rooted in the Japanese culture and sensibilities, such as animation, fashion, and cultural products. Japan’s strength lies in the firstmover knowledge it provides for Asia, creating a network of knowledge available to others (Aso 2006). Three years later, Aso, this time as the Japanese Prime Minister, proudly announced a "Growth Initiative" that planned to double the current scale of Asia's economy by 2020 (Aso 2009a). This initiative, Aso’s first and thus far most important vision for Asia as Prime Minister, is aimed at moving Asia's economy from one driven by exports to one led by domestic demand, through encouraging region-wide development and expanded consumption. To make this effort, Japan has committed (a) US$20 billion in overseas development assistance (ODA); (b) US$20 billion for infrastructure development in Asia; (c) US$5 billion over two years for an initiative investing in Asian environmental projects; and (d) US$22 billion over two years to provide additional support for trade financing in order to underpin trade credit, and so on. Japan will mobilize all possible policy measures to support the efforts being made by Asian countries. In addition, Aso seeks to increase the attractiveness of Japan by utilizing cultural sources (such as manga, animation, fashion, authentic food) to create jobs in Japan and the region (Aso 2009b). Aso’s recent initiative appears to have tilted in a direction different from his earlier vision of Japan as a thought leader, a well thought out and creative idea. Today, given Japan’s rapid economic contraction caused by its “once in a century” crisis, Japan finds it difficult to attain the regional leadership it desires merely by spending more money. Utilizing cultural resources will yield only a limited outcome. Finally, the initiative is targeted at Southeast Asia and the Pacific, with few attempts to assist or engage the members of Northeast Asia such as China and South Korea. Japan has so far failed to play its desired role as a thought leader for Asia. The inconsistency between words and actions underlines the strategic dilemmas that Japan has faced as China has risen to be a formidable rival in the region.
- Topic:
- International Relations, Diplomacy, Culture, Alliance, and Community
- Political Geography:
- Japan and Asia
158. A Mechanism to Stabilize U.S.-China-Japan Trilateral Relations in Asia
- Author:
- Shulong Chu
- Publication Date:
- 01-2008
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- China, Japan, and the United States are the most important powers in Asia now and for the future. The relationships among them are the foundation of international relations, peace, and stability in East Asia, but may also become the major source of strategic conflict in the region. What Asia is now and will become in future decades depends very much on the three countries and their relationships.
- Topic:
- International Relations and Diplomacy
- Political Geography:
- United States, Japan, China, Israel, East Asia, and Asia
159. So what? Matching policy to Australian interests in West Asia
- Author:
- Anthony Bubalo
- Publication Date:
- 07-2008
- Content Type:
- Policy Brief
- Institution:
- Lowy Institute for International Policy
- Abstract:
- Before 2001, Australian policy in the region defined here as West Asia – that stretching from India's western borders across to the eastern shores of the Mediterranean, encompassing Southwest Asia, the Persian Gulf and the Levant – focused on two broad objectives: supporting American-led efforts to promote regional stability, and securing opportunities for Australian exports.
- Topic:
- International Relations, International Political Economy, and International Trade and Finance
- Political Geography:
- Asia and Australia
160. Rebranding Russia: Norms, Politics and Power
- Author:
- Andrey Makarychev
- Publication Date:
- 02-2008
- Content Type:
- Working Paper
- Institution:
- Centre for European Policy Studies
- Abstract:
- This working paper argues that Russia is in the process of re-branding itself internationally, with a variety of normative arguments increasingly creeping into its wider international discourse. By appealing to norms, Russia tries to reformulate the key messages it sends to the world and implant the concept of its power worldwide. Yet given that Russia's normative messages are often met with scarce enthusiasm in Europe, it is of utmost importance to uncover how the normative segment in Russian foreign policy is perceived, evaluated and debated both inside Russia and elsewhere. Within this framework, this paper focuses on a set of case studies highlighting the normative and non-normative dimensions of Russian foreign policy. These include Russia-EU transborder cooperation, Moscow's policies towards Estonia, Poland, Ukraine/Georgia and the UK, Russian strategies in the 'war on terror' and energy issues.
- Topic:
- International Relations and Foreign Policy
- Political Geography:
- Russia, United Kingdom, Europe, Ukraine, Asia, Poland, Moscow, Estonia, and Georgia