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22. The Rebalance to Asia: U.S.-China Relations and Regional Security
- Author:
- Phillip C. Saunders
- Publication Date:
- 08-2013
- Content Type:
- Working Paper
- Abstract:
- Upon taking office in January 2009, Obama administration officials proclaimed a U.S. “return to Asia.” This pronouncement was backed with more frequent travel to the region by senior officials (Secretary of State Hillary Clinton's first trip was to Asia) and increased U.S. participation in regional multilateral meetings, culminating in the decision to sign the Association of Southeast Asian Nations (ASEAN) Treaty of Amity and Cooperation and to participate in the East Asia Summit (EAS) at the head-of-state level. The strategic “rebalance to Asia” announced in November 2011 builds on these earlier actions to deepen and institutionalize U.S. commitment to the Asia-Pacific region.
- Topic:
- Security, Foreign Policy, Arms Control and Proliferation, Diplomacy, Economics, and Bilateral Relations
- Political Geography:
- United States, Israel, and Asia
23. Rising South Korea: A Minor Player or a Regional Power?
- Author:
- David Shim and Patrick Flamm
- Publication Date:
- 07-2012
- Content Type:
- Working Paper
- Institution:
- German Institute of Global and Area Studies
- Abstract:
- South Korea’s rising status in regional and global affairs has received much attention in recent years. But in academic, media and policy debates South Korea is usually regarded as a mere middle power that, due to its geopolitical situation, has only limited leeway in its foreign policy. Accordingly, it must constantly maneuver between its larger neighbors: China, Japan and Russia. However, this perspective neglects the fact that the same geopolitical constraint also applies to other states in the region. No country can easily project its power over others. We use the concept of “regional power” as a template to discuss South Korea’s rising stature in regional and global politics. We argue that Seoul seems quite capable of keeping up with other assumed regional powers. Hence, we not only provide a novel account of South Korea’s foreign policy options but also go beyond current approaches by asking about the (undetermined) possibilities for Seoul’s regional relations.
- Topic:
- Foreign Policy, Economics, and Power Politics
- Political Geography:
- Russia, Japan, China, Israel, and South Korea
24. China: Industry Forecast
- Publication Date:
- 08-2012
- Content Type:
- Policy Brief
- Institution:
- Oxford Economics
- Abstract:
- GDP is expected to rise by 7.9% in 2012 and expand by 8.7% in 2013. Over the next 10 years to 2021, GDP is predicted to grow on average by 7.8% a year. Manufacturing output growth is forecast to be higher than GDP growth over the next decade. Manufacturing output is expected to increase by 8.8% in 2012 and expand by 9.4% in 2013. Over the next 10 years to 2021, manufacturing output is expected to grow on average by 7.9% a year. As a result, the share of manufacturing output in GDP is projected to rise from 34.0% in 2011 to 35.1% by 2016 and increase to 35.6% by 2021. Over the same period, the share of service sector output in GDP is expected to expand from 41.7% in 2011 to 43.8% in 2016 and rise to 45.5% in 2021.
- Topic:
- Economics, Industrial Policy, International Trade and Finance, Markets, and Foreign Direct Investment
- Political Geography:
- China and Israel
25. Global Technology Sourcing in China's Integrated Circuit Design Industry: A Conceptual Framework and Preliminary Findings
- Author:
- Barry Naughton and Dieter Ernst
- Publication Date:
- 08-2012
- Content Type:
- Working Paper
- Institution:
- East-West Center
- Abstract:
- The paper examines the role of global technology sourcing, and its drivers and impacts in China's integrated circuit (IC) design industry. IC design is one of the priority targets of China's innovation policy, as codified especially in the ―Strategic Emerging Industries‖ initiative. At the same time, however, China's IC design industry is deeply integrated into the vertically disintegrated global semiconductor industry, through markets, investment and technology. The paper highlights a fundamental challenge for China's innovation strategy: How can China reconcile its primary objective of strengthening indigenous innovation with the benefits that it could reap from its deep integration into international trade and into global networks of production and innovation?
- Topic:
- Economics, Industrial Policy, International Trade and Finance, and Science and Technology
- Political Geography:
- China and Israel
26. The Trans-Pacific Partnership and Asia-Pacific Integration: Policy Implications
- Author:
- Peter A. Petri
- Publication Date:
- 06-2012
- Content Type:
- Policy Brief
- Institution:
- Peterson Institute for International Economics
- Abstract:
- The Trans-Pacific Partnership (TPP), currently at an advanced stage of negotiation, began as a small agreement but now has big implications. The TPP would strengthen ties between Asia and the Americas, create a new template for the conduct of international trade and investment, and potentially lead to a comprehensive free trade area (FTA) in the Asia-Pacific. It could generate large benefits—greater than those expected from the World Trade Organization's (WTO) global Doha Development Agenda. This Policy Brief reports on our ongoing quantitative assessment (with FanZhai) of the TPP and other Asia-Pacific integration efforts.
- Topic:
- Economics, Emerging Markets, International Trade and Finance, and Treaties and Agreements
- Political Geography:
- America, Europe, Israel, Asia, and Australia/Pacific
27. Japan Post: Anti-Reform Law Clouds Japan's Entry to the Trans-Pacific Partnership
- Author:
- Gary Clyde Hufbauer and Julia Muir
- Publication Date:
- 05-2012
- Content Type:
- Policy Brief
- Institution:
- Peterson Institute for International Economics
- Abstract:
- Our last policy brief on this long-running saga recounted political machinations, late in 2011, to reverse the Koizumi era reforms of Japan Post, a giant among state-owned enterprises (SOEs). As a brief background: Japan Post is a conglomerate of five companies: the parent, Japan Post Holdings; two subsidiaries concerned with operating post offices and delivering mail, namely Japan Post Network and Japan Post Services; and two giant financial arms, Japan Post Bank and Japan Post Insurance.
- Topic:
- Economics, International Trade and Finance, Treaties and Agreements, and Law
- Political Geography:
- Japan and Israel
28. Projecting China's Current Account Surplus
- Author:
- William R. Cline
- Publication Date:
- 04-2012
- Content Type:
- Policy Brief
- Institution:
- Peterson Institute for International Economics
- Abstract:
- For several years China has run persistent current account surpluses that have been widely seen as the most serious single source of global imbalances on the surplus side, and mirrored by persistent systemically large US current account deficits on the other side. In recent years, however, both imbalances have shown moderation (figure 1). China's surpluses have posed questions of international policy rules, because they have reflected in part an unwillingness to allow the exchange rate to appreciate sufficiently to act as an effective equilibrating mechanism. Exchange rate intervention resulted in a massive buildup of international reserves, which rose from $615 billion at the end of 2004 to $3.2 trillion at the end of 2011 (IMF 2012a).
- Topic:
- Economics, Emerging Markets, Foreign Exchange, and International Trade and Finance
- Political Geography:
- United States, China, and Israel
29. Overlooked Opportunity: Tradable Business Services, Developing Asia, and Growth
- Author:
- J. Bradford Jensen
- Publication Date:
- 11-2012
- Content Type:
- Working Paper
- Institution:
- Peterson Institute for International Economics
- Abstract:
- This paper argues that developing Asia is overlooking an opportunity for increased growth and development through trade in business services. Developing Asia would benefit from liberalizing services trade as it has benefited from liberalizing goods trade. This argument rests on these key findings: business services are important for growth, developing Asia is relatively under-endowed with business services, many business services are tradable, and developing Asia has relatively high barriers to services trade.
- Topic:
- Economics, Emerging Markets, International Trade and Finance, Markets, and Monetary Policy
- Political Geography:
- Israel and Asia
30. Performance of the Services Sector in Korea: An Empirical Investigation
- Author:
- Donghyun Park and Kwanho Shin
- Publication Date:
- 10-2012
- Content Type:
- Working Paper
- Institution:
- Peterson Institute for International Economics
- Abstract:
- There is a widespread perception that Korea's services sector lags behind its dynamic world-class manufacturing sector. This paper empirically analyzes the past performance of Korea's services sector in order to assess its prospects as an engine of growth. The analysis resoundingly confirms the conventional wisdom of an underperforming service sector. In light of Korea's high income and development level, the poor performance of modern services is of particular concern. The authors identify a number of factors underlying the poor performance and set forth policy recommendations for addressing them. Overall, Korea faces a challenging but navigable road ahead in developing a high value-added services sector.
- Topic:
- Development, Economics, Emerging Markets, Industrial Policy, and International Trade and Finance
- Political Geography:
- Israel and Korea