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291. How Europe Should Approach China

Author:
Nicola Casarini
Publication Date:
12-2019
Content Type:
Commentary and Analysis
Institution:
Istituto Affari Internazionali
Abstract:
Should the EU enforce a containment policy towards the People’s Republic of China (PRC – or simply China), joining efforts undertaken by US President Donald Trump, who has unleashed a trade and technological war against Beijing with the aim of permanently subordinating the Asian giant to the West? Or should the EU continue its engagement policy towards Beijing – and even seek to maximise Sino-European ties to put limits on those US unilateral policies that are detrimental to Europe’s interests and fundamental values? What would be the best policy mix of engagement and containment for EU–China relations? And to what extent should the EU align its China policy with that of the US?
Topic:
International Relations, Politics, and Institutions
Political Geography:
China, Europe, Asia, United States of America, and European Union

292. Stakeholders’ Interest Relations in Korea’s Services Trade Liberalization: A Political Economy Analysis

Author:
June Dong Kim
Publication Date:
11-2019
Content Type:
Working Paper
Institution:
Korea Institute for International Economic Policy (KIEP)
Abstract:
This paper seeks to analyze the major factors behind why each stakeholders in the legal, health, educational and audio-visual service sectors in Korea op-pose liberalization in a qualitative political economy context as well as to pro-vide alternative strategies for further liberalization in these four service sectors. In legal services, the foreign equity ceiling of 49 per cent for joint venture law firms may be lifted as long as the present regulation against the number of FLCs in a joint venture law firm exceeding the number of Korean lawyers is maintained. In health services, as a step-by-step approach, we can first con-sider a system where incorporated hospitals can be established and liquidated more freely by deregulating current limitations placed on the disposal of re-maining properties, while an overly distribution of dividends is restrained. In educational services, in order to deregulate limitations regarding the disposal of remaining properties, it will be necessary to enhance the transparency of management and operation of private schools. In this regard, allowing school foundations to take the form of a limited liability company could be considered, since they would then become subject to external financial audit. In audio-visual services, it will be necessary to improve monitoring and im-plementation of intellectual property rights as well as competition policy when considering further liberalization. The major factors compelling each stakeholder in the legal, health, educational and audio-visual services to oppose further liberalization can be summarized as a general mindset towards uniform equity and control, cultural factors pre-venting discussion on rational alternatives, insufficient government budget for universal services, lack of administrative capacity in policy implementation and monitoring, absence of a proper system to evaluate the quality of ser-vices, asymmetry of information, and persistence of acquired rents. In order to correctly identify and understand the nature of problems, the highest priority should be placed on reducing the mistrust among the con-stituents. This is because mistrust among the constituents acts as the most important impediment when attempting value-creating negotiation strategies among each of the stakeholders. Meanwhile, to build trust among all constit-uents, free flow of information works as an important factor. Therefore, the problems of mistrust and lack of free flow of information are the most important impediments to improve those constraints that were analyzed in the selected service sectors. In addition, they are interlinked with each other, so that dealing with these problems simultaneously is a rational solution. In order to accomplish this, it is utmost important to develop the capability of each constituent to allow them to interpret specific pieces of information without distortion. In this regard, upgrading research and educa-tion of economics also becomes imperative.
Topic:
Political Economy, Law, Economic Policy, and Trade Liberalization
Political Geography:
Asia and South Korea

293. The Effect of Export Insurance and Guarantees on Export Performance: An Empirical Analysis for Korea

Author:
Kyunghun Kim and Hyelin Choi
Publication Date:
08-2019
Content Type:
Working Paper
Institution:
Korea Institute for International Economic Policy (KIEP)
Abstract:
There is a series of empirical papers (Kim and Lee 2004; Egger and Url, 2006; Moser, Nestmann, and Wedow, 2008; Baltensperger and Herger, 2009; Auboin and Engemann, 2014; Van der Veer. 2015) which show that trade finance is positively associated with export. Despite its positive impact on export, trade finance has been a contentious issue in international organizations such as the WTO and OECD in terms of implementing related policy measures. This is based on the argument that trade finance hurts fair international trade because it ultimately plays a role just like a subsidy. Regarding this contentious issue, in this paper we examine whether there is evidence supporting that trade finance is associated with an increase in export. We also investigate the channel through which the effect of the trade finance on export is working. To this end, we focus on a specific part of trade finance: short-term export insurance and export credit guarantee. This is because noble and ample data on these types of trade insurance are available. This confidential data is provided by the Korea Insurance Trade Corporation (henceforth K-SURE) exclusively. We conduct a panel regression using Korean sector-level export data covering from 2010Q1 to 2017Q4. This dataset enables us to control for destination country-, sector-, and time-fixed effects. Our empirical results show that the short-term export insurance and export credit guarantee have a positive impact on exports, and the main channel behind this is related to mitigating financial constraints of exporting firms. The trade finance effectively eliminates the risk of importers' payment, which helps export firms reduce the financial frictions. This ultimately leads to an increase in export. Since the main mechanism in which the trade insurance affects export is related to alleviating financial frictions, it becomes more definite that the way how trade insurance contributes to an increase in export is somewhat different from that of a subsidy. When we consider the fact that financial friction is an important factor for restraining international trade, which can partly explain the great collapse in international trade during the global financial crisis, the trade insurance policies would rather be a useful policy measure which can dampen negative impact on export during recession.
Topic:
Finance, Economic Policy, Exports, and Trade Policy
Political Geography:
Asia and South Korea

294. Repercussions of Negatively Selective Migration for the Behavior of Non-migrants when Preferences are Social

Author:
Oded Stark and Wiktor Budzinski
Publication Date:
08-2019
Content Type:
Working Paper
Institution:
Korea Institute for International Economic Policy (KIEP)
Abstract:
We study how the work effort and output of non-migrants in a village economy are affected when a member of the village population migrates. Given that individuals dislike low relative income, and that migration modifies the social space of the non-migrants, we show why and how the non-migrants adjust their work effort and output in response to the migration-generated change in their social space. When migration is negatively selective such that the least productive individual departs, the output of the non-migrants increases. While as a consequence of this migration statically calculated average productivity rises, we identify a dynamic repercussion that compounds the static one.
Topic:
Migration, Income Inequality, and Economic Policy
Political Geography:
Asia and South Korea

295. Deeper Regional Integration and Global Value Chains

Author:
Nakgyoon Choi
Publication Date:
07-2019
Content Type:
Working Paper
Institution:
Korea Institute for International Economic Policy (KIEP)
Abstract:
Recently, international trade has become regional rather than global. This paper aims to test if deeper regional integration contributes to the organization of global value chains along the regional clusters including Asia, Europe, and America. We estimate the impacts of deep regional integrations on global value chains by region, investigating the implications of mega FTAs for global value chains by scenario. We use not only data on trade in value added but also global value chains participation indexes which reflect the global value chains better than domestic value added in goods and services exports. The estimation results reveal that a deep regional trade agreement has heterogeneous effects on global value chains depending on the regional clusters. In particular, Asia turns out to import more intermediate goods than Europe and America while RTA member countries tend to import more intermediate goods from Europe than Asia and America.
Topic:
International Trade and Finance, Regional Integration, Economic Policy, and Exports
Political Geography:
Europe, Asia, Global Focus, and North America

296. The Russian Military in Contemporary Perspective

Author:
Stephen J. Blank
Publication Date:
09-2019
Content Type:
Special Report
Institution:
The Strategic Studies Institute of the U.S. Army War College
Abstract:
Wherever one looks, Russia is carrying out aggressive military and informational attacks against the West in Europe, North and South America, the Arctic, and the Middle East. This “war against the West” actually began over a decade ago, but its most jarring and shocking event, the one that started to focus Western minds on Russia, was the invasion of Ukraine in 2014. Given this pattern, the National Security Council (NSC) in 2014 invited Stephen Blank to organize a conference on the Russian military. We were able to launch the conference in 2016 and bring together a distinguished international group of experts on the Russian military to produce the papers that were then subsequently updated for presentation here.
Topic:
Nuclear Weapons, War, Military Strategy, Military Affairs, Authoritarianism, Cybersecurity, and Vladimir Putin
Political Geography:
Russia, Ukraine, Asia, Syria, North America, and United States of America

297. Parameters VOL. 49 NO. 1–2 Spring–Summer 2019

Author:
Antulio J. Echevarria II, Sam J. Tangredi, Mathieu Boulegue, Keir Giles, C. Anthony Pfaff, Karen J. Finkenbinder, Massimo Pani, Richard A. Lacquement Jr., and John F. Sullivan
Publication Date:
07-2019
Content Type:
Special Report
Institution:
The Strategic Studies Institute of the U.S. Army War College
Abstract:
Our 2019 Spring/Summer issue of Parameters features three forums. In the first forum, A2/AD Myths: Chinese & Russian, Sam Tangredi’s “Anti-Access Strategies in the Pacific: The United States and China” puts Beijing’s A2/AD capabilities in perspective and encourages the United States to consider developing an anti-access strategy of its own to deter possible Chinese aggression in the South China Sea. Keir Giles and Mathieu Boulegue’s “Russia’s A2/AD Capabilities: Real and Imagined,” explode some of the myths concerning Russia’s A2/AD capabilities and recommend ways to promote a stronger defense of the Baltic states and Eastern Europe. The second forum, Enhancing Security & Stability, considers how to address emerging and periodic challenges in regional and functional stability. In “Human Security in the Arctic: Implications for the US Army,” Tony Pfaff explains the growing importance of Arctic security for Army strategists. The challenges of climate change will require the Army, including the Alaska National Guard, to reallocate forces to this important region. In “Projecting Stability: A Deployable NATO Police Command,” Massimo Pani and Karen Finkenbinder propose methods NATO could use to project a stability force to crisis situations within 5 days, to be augmented with additional police forces and command elements within 30 days. Our third forum, On Strategic Foundations, offers two articles that explore the reliability of some of the conceptual foundations of our strategic thinking. Richard Lacquement Jr. discusses the use of historical analogies as one of humanity’s most important adaptive techniques in “Analogical Thinking: The Sine Qua Non for Using History Well.” He suggests pattern recognition may aid in clarifying context and in guiding action in unfamiliar intellectual terrain. In “Reconsidering Sun Tzu,” John Sullivan challenges readers to be more critical of orthodox interpretations of Sun Tzu’s Art of War. After all, the unexamined theory is not worth teaching.
Topic:
Security, Defense Policy, Armed Forces, and Military Affairs
Political Geography:
Russia, China, Asia, North America, Arctic, and United States of America

298. Grand Strategy is Attrition: The Logic of Integrating Various Forms of Power in Conflict

Author:
Lukas Milevski
Publication Date:
04-2019
Content Type:
Special Report
Institution:
The Strategic Studies Institute of the U.S. Army War College
Abstract:
In this monograph, Dr. Lukas Milevski examines the logic of grand strategy in practice, defined by its most basic building block—combining military and non-military power in war. He lays out competing visions of how to define grand strategy and why the aforementioned building block is the most fundamental. The monograph establishes the essential logic of military power through annihilation and exhaustion or attrition as well as through control of the opponent’s freedom of action. This baseline understanding of strategic action and effect in war allows an exploration of how the utility and meaning of non-military instruments change between peacetime and wartime and how they may contribute to the strategic effort and includes discussion of specific examples such as the U.S. interwar war plans and the Stuxnet cyberattack on Iranian nuclear facilities. The author also links this combination to present-day Russian and Chinese attempts at mixing military and non-military power.
Topic:
Defense Policy, Military Affairs, Grand Strategy, and Conflict
Political Geography:
Russia, China, Asia, North America, and United States of America

299. The Need for a New U.S. Information Strategy for North Korea

Author:
Nat Kretchun
Publication Date:
06-2019
Content Type:
Special Report
Institution:
United States Institute of Peace
Abstract:
Through the successive regimes of Kim Il Sung, Kim Jong Il, and Kim Jong Un, North Korea has maintained near-total control over the information that reaches its citizens. Now, as more and more North Koreans use networked devices such as smartphones, the regime is employing modern forms of censorship and surveillance to control information and curtail freedom of expression. This report argues that the United States and its allies need a new information strategy to end the social isolation of the North Korean people and improve their long-term welfare.
Topic:
Science and Technology, Communications, Authoritarianism, Media, News Analysis, and Peace
Political Geography:
Asia, North Korea, North America, and United States of America

300. Central Asia’s Growing Role in Building Peace and Regional Connectivity with Afghanistan

Author:
Humayan Hamidzada and Richard Ponzio
Publication Date:
08-2019
Content Type:
Special Report
Institution:
United States Institute of Peace
Abstract:
In its 2017 strategy for South Asia, the Trump administration called on Pakistan to reduce support for the Taliban and encourage them to enter into peace negotiations. Yet as crucial as Pakistan will be to peace in Afghanistan, a similarly persuasive argument can be made for Afghanistan’s northern neighbors—the Central Asian republics of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. In this Special Report, Humayun Hamidzada and Richard Ponzio examine the vital economic and political roles these countries can play to support a just and lasting peace in Afghanistan and the region.
Topic:
Regional Cooperation, Taliban, Negotiation, and Peace
Political Geography:
Pakistan, Afghanistan, Central Asia, Kazakhstan, Asia, Kyrgyzstan, Tajikistan, and Turkmenistan