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11. “Triple punch” policies to bring years of trade tensions

Author:
Su Qingyi
Publication Date:
07-2018
Content Type:
Policy Brief
Abstract:
US President Donald Trump has adopted a hard-line trade policy and recklessly instigated the trade conflict with China. This is the result of a combination of adjustments to his trade, foreign, and fiscal policies. These intertwined policies will likely stretch China-US trade frictions throughout Trump's presidency. First of all, the adjustment to the trade policy includes a shift from multilateral free trade to regional free trade and pressuring other countries to open their markets.
Topic:
International Trade and Finance, Markets, Trade Wars, Trade, and Economic Development
Political Geography:
China, Asia, North America, and United States of America

12. Opinion: China International Import Expo: New era, shared future

Author:
Su Qingyi
Publication Date:
07-2018
Content Type:
Policy Brief
Abstract:
The first China International Import Expo (CIIE) will be held from November 5 to 10 in Shanghai. The theme of the CIIE is "New Era, Shared Future," which has rich connotations. The first implication of the new era is that countries around the world begin to realize the importance of imports Economists usually emphasize sellers and exporters when they analyze the exchange between peoples and trade between countries. They tend to attach importance to exports when participating in international trade, and try to promote the growth of export.
Topic:
Markets, Economy, Trade, and Imports
Political Geography:
China and Asia

13. China will further open up but not due to US pressure

Author:
Dong Yan
Publication Date:
04-2018
Content Type:
Policy Brief
Abstract:
China will take measures to further open up to the outside world, Xi said in his highly-anticipated keynote address at the Boao Forum for Asia. But amid the escalating China-US trade conflict, some people have wrongly assumed Xi made the remarks with the Trump administration's accusations in mind. But a review of China's policies shows the country will deepen reform and opening-up because of its practical development needs, not because of any other country's demand or coercion. As for the expansion of imports, China shifted its focus from exports to striking the right balance between imports and exports long ago, because the increase in imports will offer more choices to Chinese consumers and help improve their living standards, aside from giving foreign companies easier access to the Chinese market.
Topic:
Markets, Trade Wars, and Imports
Political Geography:
China, Asia, North America, and United States of America

14. Polish FDI in Central Asian Countries

Author:
Krystyna Gomółka
Publication Date:
01-2018
Content Type:
Journal Article
Journal:
Polish Political Science Yearbook
Institution:
Polish Political Science Association (PPSA)
Abstract:
Since gaining independence, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan gradually opened their markets to foreign investors. Before Poland’s acces- sion to the European Union, the activities of Polish investors in Kazakhstan, Kyrgyzstan, Ta- jikistan, Turkmenistan and Uzbekistan were based on bilateral treaties concluded by Poland with those countries. Later, except Turkmenistan, they were governed by the partnership and cooperation agreements between the European Communities and their Member States. Despite the ample investment opportunities and favourable conditions for access to the mar- ket, the activity of Polish companies in these markets has not produced a significant effect. Poland invested with more considerable success on the markets in Kazakhstan and Kyrgyz- stan. It made investment attempts in Tajikistan and Uzbekistan, leaving out Turkmenistan. The reason why Poland has a weak position in these markets is the distance between the partners and inability of Polish companies to efficiently compete with large multinational companies which have been operating there for years. In the Kazakh market, good invest- ment prospects are available for waste management, petrochemical, mining and road con- struction companies. In Kyrgyzstan, there are cooperation possibilities in the area of modern agricultural and processing technologies and establishment of fruit and vegetable process- ing enterprises. In Tajikistan, enterprises can invest in petroleum and natural gas extraction and exploitation, the fuel market, processing of precious metals and construction of conven- tional and hydroelectric power plants. In Turkmenistan, Polish companies can compete for road, railway and housing construction contracts, whereas in Uzbekistan they can invest in businesses covered by government tax reductions.
Topic:
Markets, Infrastructure, Governance, and Investment
Political Geography:
Europe, Central Asia, Kazakhstan, Asia, Kyrgyzstan, Tajikistan, Uzbekistan, and Turkmenistan

15. Corporate Debt Market in Korea

Author:
Paul Moon Sub Choi
Publication Date:
07-2017
Content Type:
Special Report
Institution:
Korea Economic Institute of America (KEI)
Abstract:
This report conducts an analysis of the corporate bond market in Korea and the changes in interest rates and term structure since the 1997 Asian financial crisis. The potential risks and solutions for stabilizing the corporate debt market are discussed. Corporate bonds not only play an important role in financing long-term corporate investments but also have a positive and persistent influence on enhancing the capital markets. Thus, the authorities in Korea have attempted to increase the proportion of corporate bonds, which is a means of direct financing, rather than bank loans. Implementing specific plans to stabilize the corporate debt market that are mentioned in this report are critical to sustaining the Korean capital markets as a means towards continued economic growth and prosperity.
Topic:
Debt, Markets, Financial Crisis, Economy, and Investment
Political Geography:
Asia, South Korea, and Korea

16. Enhancing Financial Stability in Developing Asia

Author:
Adam S. Posen and Nicolas Veron
Publication Date:
09-2015
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
Given no generally accepted framework for financial stability, policymakers in developing Asia need to manage, not avoid, financial deepening. This paper supports Asian policymakers' judgment through analysis of the recent events in the United States and Europe and of earlier crisis episodes, including Asia during the 1990s. There is no simple linear relationship between financial repression and stability—financial repression not only has costs but, so doing can itself undermine stability. Bank-centric financial systems are not inherently safer than systems that include meaningful roles for securities and capital markets. Domestic financial systems should be steadily diversified in terms of both number of domestic competitors and types of savings and lending instruments available (and thus probably types of institutions). Financial repression should be focused on regulating the activities of financial intermediaries, not on compressing interest rates for domestic savers. Cross-border lending should primarily involve creation of multinational banks' subsidiaries in the local economy—and local currency lending and bond issuance should be encouraged. Macroprudential tools can be useful, and, if anything, are more effective in less open or less financially deep economies than in more advanced financial centers.
Topic:
Economics, International Trade and Finance, Markets, and Politics
Political Geography:
Asia

17. Financing Productivity- and Innovation-Led Growth in Developing Asia: International Lessons and Policy Issues

Author:
Ajai Chopra
Publication Date:
03-2015
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
Growth in developing Asia will need to rely more on improvements in productivity growth and less on capital deepening. Although there is no single reform path to spur productivity growth, financial system deepening is central to a more efficient allocation of capital across sectors and can facilitate innovation and technology transfer. But malfunctioning financial systems can also result in the misallocation of resources, making it important that policymakers focus less on increasing the size of the financial sector and more on improving its intermediation function. Chopra discusses the steps to mobilize Asia's ample private savings for long-term financing, especially to tackle the region's infrastructure deficit and improve access to financing for small and medium enterprises, which can help raise productivity. As many countries in Asia shift from a development model based on technology absorption to one that promotes innovation, specialized finance and investors can play a critical role in allowing innovative firms to conduct research, adopt technologies necessary for inventions, and ultimately commercialize innovations.
Topic:
Economics, International Trade and Finance, Markets, and Science and Technology
Political Geography:
Asia

18. China's New Silk Road Initiative

Author:
Zhao Minghao
Publication Date:
10-2015
Content Type:
Working Paper
Institution:
Istituto Affari Internazionali
Abstract:
The European Council has mandated the High Representative of the Union for Foreign Affairs and Security Policy, Federica Mogherini, to draft a Global Strategy by June 2016. Given Europe’s status as a global power, such a strategy must respond to Europe’s own challenges as well as to the new grand strategies of other major players in world politics, like China. To better understand the central tenets of the Chinese leadership’s strategic thinking, two keywords are most important – the “Four Comprehensives” and the “One Belt and One Road” (OBOR). As an initiative mainly focusing on promoting Eurasian integration and reshaping Chinese geo-economic advantages, the OBOR is highly consequential to China’s interactions with Europe and the rest of the world at large in the decades to come. How to take advantage of the OBOR, create new EU-China synergies, and tackle relevant challenges are questions the EU leaders should be attentive to.
Topic:
Economics, International Cooperation, International Trade and Finance, Markets, and Bilateral Relations
Political Geography:
Europe and Asia
Publication Identifier:
978-88-98650-61-3
Publication Identifier Type:
DOI

19. The ASEAN Economic Community: What Stands in the Way?

Author:
Jon Dorsch
Publication Date:
09-2015
Content Type:
Policy Brief
Institution:
East-West Center
Abstract:
At the end of 2015 the Association of Southeast Asian Nations (ASEAN) will announce the establishment of the ASEAN Economic Community (AEC). In theory, this agreement should produce an association-wide economic integration. However, following the announcement, and for the foreseeable future, ASEAN member states will continue in significantly less than full regional economic integration. Why? Some observers believe that the AEC plans involve an "overly ambitious timeline and too many ill-thought-out initiatives." Others point to ASEAN's traditional aversion to legally binding agreements. While progress has been made in reducing or eliminating intra-ASEAN trade tariffs, substantial non-tariff barriers to trade persist. However, for most member states, the ASEAN market is relatively small while external markets, especially China, are growing rapidly. Given this outward-orientation for ASEAN trade, is the lack of an unhindered regional market really a problem?
Topic:
Economics, International Trade and Finance, and Markets
Political Geography:
China and Asia

20. ASEAN Centrality and the ASEAN-US Economic Relationship

Author:
Peter A. Petri and Michael G. Plummer
Publication Date:
03-2014
Content Type:
Policy Brief
Institution:
East-West Center
Abstract:
ASEAN has become a focal point of the rapidly changing economic architecture of the Asia-Pacific region. ASEAN members are increasingly stable and politically confident, and constitute an emerging economic powerhouse. The region is dynamic, with 600 million citizens and a gross domestic product (GDP) that exceeds $2 trillion and is expected to grow 6 percent annually for the next two decades. (The Appendix at the end of this paper reports detailed output and trade projections to 2025.) Through deeper internal integration via the ASEAN Economic Community (AEC) and external initiatives such as the Regional Comprehensive Economic Partnership (RCEP), ASEAN is becoming a driving force in regional cooperation and a much-courted economic partner. The AEC and the RCEP projects are globally significant: the AEC could generate powerful demonstration effects for other developing regions, and the RCEP could become an important building bloc of the multilateral trading system.
Topic:
Security, Economics, International Trade and Finance, and Markets
Political Geography:
United States, East Asia, Asia, and Asia-Pacific