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462. Entrepreneurship and Political Guanxi Networks in China's Private Sector
- Author:
- Christopher A. McNally, Hong Guo, and Guangwei Hu
- Publication Date:
- 08-2007
- Content Type:
- Working Paper
- Institution:
- East-West Center
- Abstract:
- Since the mid-1990s the Chinese government has rapidly liberalized the environment facing domestic private firms. As a consequence, many private firms have clarified their ownership relations and acquired stronger organizational boundaries. However, despite this formalization of private sector institutions, informal guanxi networks remain a key component in firm success. Most significant among these guanxi networks are political networks that connect private entrepreneurs with actors in China's political sphere.
- Topic:
- Economics, International Trade and Finance, and Markets
- Political Geography:
- China and Israel
463. "BRIC countries are opaque"
- Author:
- George Vojta
- Publication Date:
- 06-2007
- Content Type:
- Working Paper
- Institution:
- Media Tenor International
- Abstract:
- Media Tenor: Even within the BRIC States one cannot say that all three are on the Media Agenda, not mention developing countries. What could be the reason for this salience? Vojta: My sense is that the four BRIC countries are rising in media visibility as they become more significant players in the global system. Very shortly these four countries will surpass the G7countries in annual absolute growth results.
- Topic:
- Development, Economics, International Trade and Finance, and Infrastructure
- Political Geography:
- Russia, China, South Asia, and Latin America
464. China's Foreign Policy Comes of Age
- Author:
- Michael Yahuda
- Publication Date:
- 09-2007
- Content Type:
- Journal Article
- Journal:
- The International Spectator
- Institution:
- Istituto Affari Internazionali
- Abstract:
- China's continuing rise has brought it to a new stage in its engagement with the outside world. China's growing economic and diplomatic weight has made it an influential player in all parts of the world and it is seeking to consolidate its image as a responsible major player within its own region and in the wider world. The Olympic Games to be held in Beijing next year will offer a major opportunity to show that China has come of age as a modern power. China is reaching a point where the extent and depth of its international interests are not only increasing its stake in the global system, but are also allowing it to begin to make its mark as a potential rule-maker in world affairs. This is particularly noticeable in Africa, where it is successfully challenging the approach of international organisations and Western governments which have made aid and certain other economic exchanges and arms sales conditional on improving the governance of relevant states. China's ''model of development'', which combines rapid economic growth with authoritarian rule, is gaining approval by certain third world governments as a viable alternative to the so-called ''Washington consensus'', which emphasises liberal economics and democratic politics.
- Topic:
- Economics
- Political Geography:
- China, Washington, and Beijing
465. China's Energy Policy: from Self-sufficiency to Energy Efficiency
- Author:
- François Godement
- Publication Date:
- 09-2007
- Content Type:
- Journal Article
- Journal:
- The International Spectator
- Institution:
- Istituto Affari Internazionali
- Abstract:
- China's energy policy is traditionally based on self-sufficiency. While energy bottlenecks have often been cited as a limitation to China's economic growth, China has been successful at producing energy using its domestic coal - albeit putting a strain on transport and producing a high degree of pollution. Aggressively after 2001, China has started to search for external resources, both to supply its voracious appetite for oil and to insure its economy against possible geopolitical disruptions - including the threat of sanctions. This has given Chinese companies a life of their own, making them large international actors. Today, China is both saddled with new responsibilities for the developing countries in which it owns sizeable exploitation rights, and influenced by a new thinking on energy security, based on the idea of improving energy efficiency before developing resources. This offers opportunities for the West - and Japan - in cooperating with China, a huge energy importing country, to lessen the dominance of producers, create business opportunities for energy efficiency equipment, and also to cap CO2 and other emissions.
- Topic:
- Economics
- Political Geography:
- Japan and China
466. The Role of China in Asia: Engine, Conduit, or Steamroller?
- Author:
- Beth Anne Wilson, Jane T. Haltmaier, Shaghil Ahmed, Brahima Coulibaly, Ross Knippenberg, Sylvain Leduc, and Mario Marazzi
- Publication Date:
- 09-2007
- Content Type:
- Working Paper
- Institution:
- Board of Governors of the Federal Reserve System
- Abstract:
- This paper assesses China's role in Asia as an independent engine of growth, as a conduit of demand from the industrial countries, and as a competitor for export markets. We provide both macroeconomic and microeconomic evidence. The macroeconomic analysis focuses on the impact of U.S. and Chinese demand on the output of the Asian economies by estimating growth comovements and VARs. The results suggest an increasing role of China as an independent source of growth. The microeconomic analysis decomposes trade into basic products, parts and components, and finished goods. We find a large role for parts and components trade consistent with China playing an important and increasing role as a conduit. We also estimate some regressions that show that China's increasing presence in export markets has had a negative effect on exports of some products for some other Asian economies, but not for other products, including those of the important electronic high-technology industry.
- Topic:
- Development, Economics, International Trade and Finance, and Markets
- Political Geography:
- United States, China, and Asia
467. Regional Monetary Arrangements in ASEAN+3 as Insurance through Reserve Accumulation and Swaps
- Author:
- O.G. Dayaratna-Banda and John Whalley
- Publication Date:
- 04-2007
- Content Type:
- Working Paper
- Institution:
- Centre for International Governance Innovation
- Abstract:
- East Asia is witnessing the emergence of an informal monetary system which focuses on self-insurance through own reserve accumulation and co-insurance through swaps. The former is concentrated in a small number of large countries (China, Japan, and Korea), while the latter involves informal monetary cooperation among monetary authorities in a large number of countries. The origins of this system lie in the Asian financial crises, and reflect concerns both to avoid repetition of similar events and any spread of further crises through contagion effects. This paper first characterizes and documents this emerging system describing how it works and what its objectives are, and then discusses its performance, its incompleteness, and assesses the system's ability to move towards deeper integration without adopting a single monetary authority as well as the impediments it faces. What is clear is that this type of system among individual countries is incomplete and falls well short of complete monetary integration, but at present it performs well even if it experiences a number of deficiencies. Most countries seem better off with partial reserve pooling, while incremental gains from higher degrees of pooling in the region tend to be small.
- Topic:
- Development, Economics, and Regional Cooperation
- Political Geography:
- Japan, China, Asia, and Korea
468. After the MFA, the CCAs (China Containment Agreements)
- Author:
- O.G. Dayaratna-Banda and John Whalley
- Publication Date:
- 05-2007
- Content Type:
- Working Paper
- Institution:
- Centre for International Governance Innovation
- Abstract:
- The post-Multi Fiber Agreement (MFA) trade regime in textile and apparel appears to be emerging in ways which are quite different from what had been widely anticipated before the termination of Agreement on Textiles and Clothing (ATC). Since the end of ATC, there has been growing and spreading set of trade restrictions targeted primarily at China, the largest shipper of textile and apparel, through a series of agreements that we term China Containment Agreements. We discuss the evolution of these agreements, their behavioural responses, and then draw their parallels to those under the older MFA. We argue that there is potential for these restrictions to prolong and grow, as well as spread to other products through the product-specific safeguards mechanism included in the conditions of China's World Trade Organization accession.
- Topic:
- International Relations, Economics, and Treaties and Agreements
- Political Geography:
- China and Asia
469. The European Union and China
- Author:
- Roberto Menotti
- Publication Date:
- 04-2007
- Content Type:
- Working Paper
- Institution:
- Lowy Institute for International Policy
- Abstract:
- The EU is a newcomer to East Asian affairs, but its stake in the region is growing rapidly in light of China's economic clout. The European approach to China's rise differs profoundly from that of the US, due to geopolitical realities and a general belief in the benign effects of economic interdependence.
- Topic:
- Foreign Policy and Economics
- Political Geography:
- China, East Asia, and Asia
470. China and Economic Integration in East Asia: Implications for the United States
- Author:
- C. Fred Bergsten
- Publication Date:
- 03-2007
- Content Type:
- Policy Brief
- Institution:
- Peterson Institute for International Economics
- Abstract:
- East Asia is clearly, if gradually and unevenly, moving toward regional economic integration. Market forces are leading the process, as firms construct production chains across the area that exploit the comparative advantage of its individual countries. Governments are now moving to build on those forces, and consolidate them, through a series of formal agreements to intensify their economic relationships and start creating an East Asian Community.
- Topic:
- Development and Economics
- Political Geography:
- United States, China, Israel, East Asia, and Asia