Economics, Politics and Public Policy in East Asia and the PacificAuthor: Ryan Manuel, ANU
Chinese heir-apparent Xi Jinping’s recent two-week absence from public appearances led to a flurry of articles about how opaque China’s government is and how little we know about the future leadership.
Some argued that it questioned the legitimacy of China’s communist regime.
Author: Miriam L. Campanella, University of Turin
At the 2011 Asia Economic Policy Conference hosted by the Federal Reserve Bank of San Francisco, Justin Yifu Lin, then chief economist and senior vice president of the World Bank, made an unambiguous statement about China’s vital role in the global economy:
‘Whether we are on the verge of an “Asian Century” or not, one thing is clear: there has already been a dramatic shift in the geographic centre of the global economy. Read more…
Author: Fitrian Ardiansyah, ANU
Joko ‘Jokowi’ Widodo’s expected victory in the final round of Jakarta’s gubernatorial election against incumbent Governor Fauzi ‘Foke’ Bowo has sent a clear message that the government’s approach to managing Jakarta’s complex urban systems needs to change profoundly.
Author: Gibson Bateman, New York
As the 21st session of the United Nations Human Rights Council’s (HRC) ends on 28 September 2012, ongoing human rights developments in Sri Lanka will undoubtedly linger in the minds of many.
Observers will look forward to the country’s upcoming Universal Periodic Review, Read more…
Author: Ippei Fujiwara, ANU
It is recognised that the currency of a country with high interest rates tends to appreciate. This sounds like an indisputable theory.
But if this is correct, those borrowing funds in low-interest rate countries, such as Japan, and investing in high-interest rate countries, such as Australia and New Zealand, can achieve high profitability, Read more…
Author: Andrei Lankov, Kookmin University and ANU
Outside observers were recently exposed to an unusual sight: an open confrontation between a Chinese company and the North Korean government.
Author: Pravakar Sahoo, IEG
The Indian government announced, in response to claims that it is responsible for India’s slowing economy, new reform measures on 14 September.
The reforms include a revision of fuel prices, allowing 51 per cent FDI in multi-brand retailing, allowing international airlines to invest in domestic airlines, increasing FDI equity from 49 per cent to 74 per cent in broadcasting services and disinvestment of four public sector undertakings. Read more…
Author: Juan J. Palacios, University of Guadalajara
Claude Barfield noted that the most significant development at the G20 Summit in Los Cabos was the decision to invite Canada and Mexico to join the Trans-Pacific Partnership (TPP).
Although other initiatives with a global reach were also launched at that summit, this particular decision represents a substantive advance in the liberalisation of trade in the Pacific, and is a major step toward the materialisation of the TPP. Read more…
Author: Quentin Grafton, BREE and ANU
The financial troubles in the euro zone are an on-going series of sovereign debt crises that originated in countries within the zone that were already or became heavily indebted following the global financial crisis of 2008–09.
The debt crisis is exacerbated by a debt cycle in that the banking sector needs to recapitalise, the public sector must undertake fiscal consolidation, and households and firms need to reduce their level of indebtedness. Read more…
Author: Sandy Gordon, ANU
On 8 September, India and Pakistan agreed to liberalise their visa arrangements.
The deal came during a three-day meeting between Pakistani foreign minister Hina Rabbani Khar and her Indian counterpart S.M. Krishna in Islamabad. Read more…
Authors: Xunpeng Shi and Brett Jacobs, ERIA
Coal will continue to play a large role in world energy supplies in the medium term, particularly in rapidly industrialising countries such as India and China.
Notwithstanding the increasing number of environmental regulations on coal use since the 1970s, global demand for coal has increased steadily in the past three decades. Read more…
Author: Dewi Fortuna Anwar, Jakarta
Indonesia is edging back into Australia’s foreign-policy debate. With its huge population, growing economy and strategic location Indonesia is not only projected to become one of the world’s major economies within a few decades, it is also regarded as a global swing state that will have increasing influence in international affairs.
Author: Peter Drysdale, Editor, East Asia Forum
Anxiety about the dispute between Japan and China over the Senkaku or Diaoyu islands spiralling totally out of control intensified last week when the Noda government bought three of the islands from a private Japanese owner.
Author: Sourabh Gupta, Samuels International
September 2012 was supposed to be the landmark 40th anniversary of the normalisation of Japan–China relations. Matters haven’t quite turned out that way.
Author: Aurelia George Mulgan, UNSW Canberra
A recent report in the Wall Street Journal by Mitsuru Obe suggests that Japanese Prime Minister Yoshihiko Noda will announce a decision to participate in the TPP after a cabinet reshuffle (scheduled for early October).
While a decision to participate in the TPP is highly unlikely, a decision to participate in the TPP talks is certainly possible. Read more…
