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11. Developing Countries Can Help Restore the WTO's Dispute Settlement System

Author:
Ana González and Euijin Jung
Publication Date:
01-2020
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
By refusing to fill vacancies in the World Trade Organization’s (WTO) Appellate Body—the top body that hears appeals and rules on trade disputes—the Trump administration has paralyzed the key component of the dispute settlement system. No nation or group of nations has more at stake in salvaging this system than the world’s big emerging-market economies: Brazil, China, India, Indonesia, Korea, Mexico, and Thailand, among others. These countries have actively and successfully used the dispute settlement system to defend their commercial interests abroad and resolve inevitable trade conflicts. The authors suggest that even though the developing countries did not create the Appellate Body crisis, they may hold a key to unlock it. The Trump administration has also focused its ire on a longstanding WTO practice of giving these economies latitude to seek “special and differential treatment” in trade negotiations because of their developing-country status. The largest developing economies, which have a significant stake in preserving a two-step, rules-based mechanism for resolving trade disputes, could play a role in driving a potential bargain to save the appeals mechanism. They could unite to give up that special status in return for a US commitment to end its boycott of the nomination of Appellate Body members.
Topic:
Development, Government, World Trade Organization, Developing World, and Donald Trump
Political Geography:
China, Indonesia, India, South Korea, Brazil, North America, Mexico, Thailand, and United States of America

12. South Korea's 5G Ambitions

Author:
Clara Gillespie
Publication Date:
05-2020
Content Type:
Working Paper
Institution:
Korea Economic Institute of America (KEI)
Abstract:
Under President Moon Jae-in, South Korea has set an ambitious target to move from being “first in the world” in the race to 5G to “first in global quality.” Yet, while a range of industry and government stakeholders are investing heavily in making this vision a reality, a number of factors are likely to weigh on whether or not these efforts yield significant results. These include uncertainties about how to further accelerate development in ways that lead to better returns on investments, and about how to navigate complex geopolitical considerations, including ongoing debates about Huawei’s involvement in 5G network infrastructure. Each of these areas will, in turn, require domestic stakeholders to make complex assessments about potential tradeoffs and risks. Thus, this paper assesses South Korea’s emerging 5G era at the one-year mark, and highlights key successes, setbacks, and ongoing challenges. Building on these findings, the paper concludes by offering several potential scenarios for future development, and suggestions for ways forward.
Topic:
Economics, Science and Technology, and 5G
Political Geography:
Asia and South Korea

13. A New Horizon for the Korea-India Strategic and Sustainable Partnership under Korea's New Southern Policy

Author:
Choong Yong Ahn
Publication Date:
03-2020
Content Type:
Working Paper
Institution:
Korea Economic Institute of America (KEI)
Abstract:
India and South Korea, Asia’s third- and fourth-largest economies, respectively, established a Comprehensive Economic Partnership Agreement (CEPA) in 2010 and upgraded their relationship to a special strategic partnership in 2015. South Korean President Moon Jae-in’s “New Southern” policy and Indian Prime Minister Narendra Modi’s “Act East” policy share important objectives and values through which Korea and India can maximize their potential to pursue high tech-oriented, win-win growth. Both countries face the great challenge of diversifying their economic partners in their respective geo-economic domains amid newly emerging international geo-economic dynamics as well as rapidly changing Fourth Industrial Revolution technologies. Given the two countries’ excessive dependence on the Chinese market and potential risks and uncertainties involved in the U.S.-China trade war and related security conflicts, South Korea and India need to deepen bilateral linkages in trade, investment, and cultural contacts. South Korea-India cooperation is crucial in promoting plurilateralism, prosperity, and harmony in East Asia. This paper suggests a specific action agenda to fulfill mutual commitments as entailed in the “Special Strategic Partnership” between these two like-minded countries of South Korea and India.
Topic:
International Relations, Foreign Policy, Science and Technology, Bilateral Relations, and Industry
Political Geography:
United States, China, South Asia, India, Asia, South Korea, and Korea

14. Framing an Indo-Pacific Narrative in India-South Korea Ties

Author:
Jagannath P. Panda
Publication Date:
01-2020
Content Type:
Working Paper
Institution:
Korea Economic Institute of America (KEI)
Abstract:
Both India’s and South Korea’s strategic choices are deeply influenced by the rapidly evolving Indo-Pacific construct, particularly amid a mounting U.S.-China rivalry. With India’s “Look/Act East” policy and South Korea’s “New Southern Policy” offering a perfect stage for deepened mutual cooperation, both nations need to further their relations to build Asia’s future while advancing their respective national interests. With both countries following stringent foreign policies as a result of the actions of their immediate neighbors, they present a geopolitically strategic complementarity for their relationship to prosper and emerge as one of the most important relationships in the region. Seoul’s hesitation to overtly embrace the “Indo-Pacific” concept is not really a barrier; rather a geo-political overture to discard the balance of power politics and pursue an autonomous foreign policy. India’s preference for the “Indo-Pacific” is equally based on strategic autonomy, imbibing universal values and an inclusive regional order. Both countries emphasize a free and rules-based Indo-Pacific and have immense potential to establish security and connectivity partnerships as the keystone of their bilateral ties. With India and South Korea understanding the economic importance versus security ramifications of China, and with Japan’s reemergence as a key regional, if not global actor, both countries need to bring serious strategic intent to their relationship. Making use of the ASEAN platform and bilateral dialogues, South Korea and India have the potential to become one of the strongest Indo-Pacific partners of the 21st century
Topic:
International Relations, Foreign Policy, Bilateral Relations, Partnerships, and Geopolitics
Political Geography:
China, South Asia, India, Asia, South Korea, Korea, United States of America, and Indo-Pacific

15. Japan’s Trade Policy in the Midst of Uncertainty

Author:
Yuka Fukunaga
Publication Date:
02-2020
Content Type:
Policy Brief
Institution:
Institut français des relations internationales (IFRI)
Abstract:
The multilateral trading system under the World Trade Organization (WTO) has been of the utmost importance for Japan's trade policy. In particular, Japan strongly supports the WTO’s rule-based dispute settlement mechanism, and frequently uses it. At the same time, in recent years, the adoption and implementation of regional and mega-regional trade agreements have become critical in Japan’s trade policy, with the stalling of the Doha Round negotiations in the WTO. Although the core of its trade policy remains the same today, Japan has been forced to rethink and modify it in response to the aggressive and unilateral trade policy of the Trump administration.
Topic:
World Trade Organization, Governance, Internet, Free Trade, and Trade Policy
Political Geography:
Japan, China, Asia, South Korea, North America, United States of America, and European Union

16. Tariffs and Monetary Policy: A Toxic Mix

Author:
Michael D Bordo and Mickey D. Levy
Publication Date:
01-2020
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
The ratcheting up of tariffs and the Fed’s discretionary conduct of monetary policy are a toxic mix for economic performance. Escalating tariffs and President Trump’s erratic and unpredictable trade policy and threats are harming global economic performance, distorting monetary policy, and undermining the Fed’s credibility and independence. President Trump’s objectives to force China to open access to its markets for international trade, reduce capital controls, modify unfair treatment of intellectual property, and address cybersecurity issues and other U.S. national security issues are laudable goals with sizable benefits. However, the costs of escalating tariffs are mounting, and the tactic of relying exclusively on barriers to trade and protectionism is misguided and potentially dangerous. The economic costs to the United States so far have been relatively modest, dampening exports, industrial production, and business investment. However, the tariffs and policy uncertainties have had a significantly larger impact on China, accentuating its structural economic slowdown, and are disrupting and distorting global supply chains. This is harming other nations that have significant exposure to international trade and investment overseas, particularly Japan, South Korea, and Germany. As a result, global trade volumes and industrial production are falling. Weaker global growth is reflected in a combination of a reduction in aggregate demand and constraints on aggregate supply.
Topic:
International Trade and Finance, Monetary Policy, Economic growth, Tariffs, and Industry
Political Geography:
Japan, China, Europe, Asia, South Korea, Germany, North America, and United States of America

17. A Roundtable on Monica Kim The Interrogation Rooms of the Korean War: The Untold History

Author:
Mitchell Lerner, Judy Tzu-Chun Wu, Arissa H. Oh, Zachary M. Matusheski, Peter Banseok Kwon, and Monica Kim
Publication Date:
09-2020
Content Type:
Commentary and Analysis
Institution:
The Society for Historians of American Foreign Relations (SHAFR)
Abstract:
A Roundtable on Monica Kim The Interrogation Rooms of the Korean War: The Untold History
Topic:
International Relations, Cold War, War, History, Military Affairs, United States, Korean War, and Diplomatic History
Political Geography:
South Korea, North Korea, Korea, and Korean Peninsula

18. With Tensions Receding, Americans Lose Fear of North Korea

Author:
Karl Friedhoff
Publication Date:
02-2020
Content Type:
Special Report
Institution:
Chicago Council on Global Affairs
Abstract:
North Korea’s promise to deliver an end-of-year “Christmas gift” went unfulfilled amid signs that the United States wanted to continue diplomacy with the Kim regime. This has led to a continued lull in tensions between the two countries, although actual progress in negotiations remains elusive. With that lack of progress, President Donald Trump has reportedly told his advisers that he does not want another summit with Kim Jong Un before the US presidential election in November. In a survey conducted from January 10–12, 2020, the American public is now less concerned about the threat posed by North Korea, but little else has changed in terms of Americans’ policy preferences to deal with North Korea’s nuclear program. Majorities still oppose airstrikes against North Korea and support long-term military bases in South Korea.
Topic:
Diplomacy, Bilateral Relations, Public Opinion, and Donald Trump
Political Geography:
Asia, South Korea, North Korea, North America, and United States of America

19. Troop Withdrawal Likely to Undermine South Korean Public Support for Alliance with United States

Author:
Karl Friedhoff
Publication Date:
08-2020
Content Type:
Special Report
Institution:
Chicago Council on Global Affairs
Abstract:
The United States and South Korea remain locked in negotiations over the Special Measures Agreement (SMA)—the agreement which formally determines how much South Korea contributes to the financial cost of stationing US troops in South Korea. In the past, these negotiations took place behind the scenes away from the public eye. But keeping details of this round of negotiations private proved difficult when it was disclosed that the United States requested $5 billion dollars, an unprecedented 400 percent increase from the previous year. When the two sides failed to reach a deal by April 1, 4,000 Koreans who work on US bases in South Korea were furloughed. The public attention to these negotiations—and the US request being framed as extortive by Korean media and US analysts—raised concerns that the South Korean public’s positive views of the alliance would be damaged. But just-completed polling by the Chicago Council on Global Affairs suggests that is not the case. Little has changed in terms of South Korean attitudes towards the alliance. The South Korean public remains positive about the alliance, supportive of stationing US troops in South Korea, and confident that the US will defend South Korea if North Korea attacks. But the data also suggests that there are scenarios in which South Korean public confidence could be punctured. Confidence in the US commitment to defend South Korea if attacked by North Korea is strongly related to views that the alliance with the United States is mutually beneficial. This, in turn, implies that the biggest downside risk to support for the alliance stems from actions that would impact US credibility to defend South Korea if North Korea attacks. While a range of actions may trigger a decrease in confidence in US commitment to defend South Korea, one of the most immediate reported to be under consideration is a partial withdrawal of US troops. This move has the potential to shift South Korean attitudes away from seeing the alliance as mutually beneficial and towards views that the alliance benefits only the United States.
Topic:
Bilateral Relations, Armed Forces, Alliance, and Troop Deployment
Political Geography:
Asia, South Korea, North Korea, North America, and United States of America

20. Americans Positive on South Korea Despite Trump’s Views on Alliance

Author:
Karl Friedhoff
Publication Date:
10-2020
Content Type:
Special Report
Institution:
Chicago Council on Global Affairs
Abstract:
The Trump presidency has strained relations with several Asian allies, including South Korea. But the 2020 Chicago Council Survey results show that President Donald Trump’s repeated threats and bullying tactics on defense and trade issues with Seoul have done little to soften support among the American public for the alliance with South Korea. In fact, favorable views of South Korea are now at an all-time high.
Topic:
International Relations, Defense Policy, and Trade
Political Geography:
South Korea, North America, Korea, and United States of America