Economics, Politics and Public Policy in East Asia and the Pacific
Author: Ishrat Husain, Institute of Business Administration, Karachi
The expansion of the G7 to the G20, thereby incorporating Asia, is a welcome step.
Economic power relations have changed considerably in the past decade or so and it was thus only natural that the global governance architecture should begin to reflect this new reality. Read more…
Author: Sheryn Lee, ANU
The US confirmed last month that it will uphold a commitment to refurbish Taiwan’s aging F-16A/B jet fighter fleet in a US$5.85 billion arms package.
This has once again sparked debate about whether Washington’s continued arms sales to Taipei serve the region’s interests in maintaining the cross-Strait status quo. Read more…
Author: Brian Scarfe, University of Victoria
China has had an inappropriate monetary and exchange rate policy for far too long.
By keeping its currency value closely in line with the US dollar, China maintains a grossly under-valued exchange rate. The result is China’s immense current account surpluses and associated massive accumulation of foreign exchange reserves. Read more…
Author: Sandy Gordon, ANU
India claims there is a strong connection between its need to lift an estimated 440 million people out of poverty, and its stance on trade liberalisation and climate change.
The country’s Planning Commission recently estimated India’s poverty rate at 37 per cent. Read more…
Author: Pravakar Sahoo, IEG
The Indian Finance Minister Pranab Mukherjee’s remarks at the launch of the World Bank Development Committee meeting recently expressed the concerns of emerging economies about the European debt crisis.
If not managed with an iron hand, the crisis will have a contagion effect and lead to a double-dip recession in the world economy. Read more…
Authors: Chris Manning, ANU, and Raden M Purnagunawan, Padjadjaran University
Although there are some uncertainties, the Indonesian economy is well placed for what will now almost certainly be a sharp downturn in the world economy.
Foreign reserves were at a record high at just under US$120 billion at the end of the second quarter, inflation was down to below 5 per cent, investment up significantly, and growth steady at 6.5 per cent year on year. Certainly, macroeconomic policymakers are not ignoring the potential impact of another global recession; but Indonesia seems relatively unaffected by the immediate- to medium-term impacts of the US’s much slower-than-expected recovery in August and the ongoing debt crisis in Europe. Read more…
Author: Wang Yong, Peking University
For those interested in the internationalisation of China’s national currency, the renminbi, and hence anyone interested in the future of the global currency system, Vice Premier Li Keqiang’s recent visit to Hong Kong was an important event.
The Vice Premier announced on 17 August 2011 the central government’s ‘Six Measures’ to support Hong Kong’s economic development — a move welcomed by Chinese media and businesses. The measures include a quota of RMB20 billion (US$3 billion) for renminbi Qualified Foreign Institutional Investors (RQFIIs) to invest in mainland China’s RMB-denominated securities market; allowing mainland Chinese investors to conduct business in the Hong Kong Stock Exchange’s exchange-traded funds; and issuing RMB20 billion in RMB-denominated bonds in Hong Kong. Read more…
Author: Martin van Bruinessen, Utrecht University
The idea of Indonesia leading the third world was not only thinkable half a century ago, it even appeared as reality — briefly.
Since that time there has been some attempt at raising Indonesia’s international profile as a leading Muslim nation, and its visibility and global import have increased. But it is not yet a country that other Muslims look to for leadership. Read more…
Author: Stephen Howes, ANU
The Australia-PNG Ministerial Forum convened today in Canberra after a break of over two years.
And today the prime ministers of the two countries will also meet for the first time (outside of sideline meetings) following this significant interlude. Read more…
Author: Frank Jotzo, ANU
Indonesia is among the world’s largest greenhouse gas emitters, and it has committed to cut its carbon footprint.
Can Indonesia achieve its goals, what is its role in the region, and how could developed countries assist? Read more…
Author: Dr Joseph Cheng, City University of Hong Kong
At the recent World Economic Forum’s Annual Meeting of the New Champions in Dalian, Premier Wen Jiabao openly appealed for real political reform.
He discussed the need to govern by law, uphold judicial justice and protect people’s democratic rights. Read more…
Author: Sourabh Gupta, Samuels International
On 7 September 2011 in Dacca, the prime ministers of India and Bangladesh signed a landmark protocol to their 1974 Land Boundary Agreement, providing for final settlement of their long-pending boundary issues.
Given that instances of territorial dispute settlement in this sovereignty-conscious region have been few and far between, this exercise in statesmanship is both commendable and long overdue. Read more…
Author: Peter Drysdale, Editor, East Asia Forum
Last week, Australia’s Prime Minister, Julia Gillard, in an important speech in Melbourne redefined the economic and strategic circumstance in which Australia must shape its national and international interests in the years ahead.
Gillard launched a major and comprehensive review of economic and strategic change in Asia and its implications and the opportunities in it for Australia. Read more…
Author: Shiro Armstrong, ANU
Australia at last is taking up the challenge of comprehensively thinking through its new strategic circumstance in Asia, and taking Asia seriously.
On 28 September, Prime Minister Julia Gillard gave a timely and important speech to launch a new White Paper on Australia in the Asian Century. Read more…
Author: Andrei Lankov, Kookmin University
North and South Korea held talks in Beijing last week, which means the next episode of the endless diplomatic soap that is the Six-Party Talks is approaching.
The official goal of these talks is North Korean denuclearisation. Read more…