The world economic pattern in the 1990s and Asia-Pacific economic cooperation

The world economic pattern of the 1990s will have many characteristics. For example: 1) the world economy will tend to move further toward multipolarization and several fairly large regional economic blocs will be formed with these polars as their center; 2) the United States, Japan, and Europe will play a dominant role in the new world economic pattern; and 3) the Asia-Pacific economies will be the most vigorous part of the world economy. Since the 1980s, with the development of the internationalization of the world economy and regional integration, Asia-Pacific economic cooperation has entered into a new period. However, it is very difficult to form a close entity of economic cooperation (such as the EC) including the whole Asia-Pacific region. Perhaps it is more practical to found a subregional economic cooperative body, such as a “Northeast Asian economic sphere,” in the near future. This article was originally prepared for a roundtable conference on “Economic Issues in the Northwest Pacific: Perspectives in a Dramatically Changing World,” held December 14–16, 1990, in Oiso, Japan. The cosponsors of the conference were Taisho Research Institute, the Japan Economic Foundation, and The American Council on Asian and Pacific Affairs.     

The Asian situation and Japan’s response: With an emphasis on the Korean Peninsula

Mr. Kuranari is a former minister of foreign affairs of Japan. This paper was originally presented at a conference on “Problems of Peace, Security, and Economic Cooperation in the Asian and Pacific Region,” cosponsored by the Institute for Sino-Soviet Studies of George Washington University and Yomiuri Shimbun of Tokyo, Japan, May 19–21, 1988, in Washington, D.C.     

Indonesia′s new challenges and opportunities: Blueprint for reform after the economic crisis

This article assesses the challenges and opportunities faced by the Indonesian government following the Asian economic crisis of 1997 and the fall of the Suharto regime. It examines Indonesia's ongoing economic decentralization program, and these policies' relations to market globalization; discusses regional development policies and their relations to ongoing changes in the central government; and attempts to define principles of “good governance” that will ensure Indonesia's ability to bail itself out of the current crisis and move toward positive long-term economic development. An earlier version of this article was presented at the conference on “Globalization and New Governance,” organized by the SEMIN Foundation of Korea and Asia Pacific Public Administration Forum of Taiwan, Suwon City, South Korea, October 7–11, 1999.     

Economic cooperation in the Asia-Pacific region and the role of the P.R.C.

His publications includeChina’s Development Experience in Comparative Perspective, and, with Allen Whiting,China’s Future. This is a revised version of a paper presented at a conference on “Problems of Peace, Security and Economic Cooperation in Asia and the Pacific” June 1987, in Beijing, P.R.C. The conference was co-sponsored by the Institute for Sino-Soviet Studies and the China Institute of Contemporary International Relations, Beijing, P.R.C.     

Japan’s relations with the United States: Issues and prospects

This paper was originally prepared for an international conference on “The U.S. and Asia,” sponsored by The Gaston Sigur Center for East Asian Studies, October 29–31, 1992. The views expressed are those of the author and do not necessarily reflect the views of the government of Japan.     

Sino‐Japanese relations: A Japanese perspective

Although Sino‐Japanese relations seem much improved in recent years, Tomoyuki Kojima, professor of political science at Keio University, still sees numerous problems that Japan must come to terms with before the two countries can develop a truly close relationship. Points of friction include Japan's past aggression in China, Chinese nuclear testing, regional security issues, and China's criticism of Japan. This paper was presented at the conference, “China and Japan in the Asia‐Pacific region since the Pacific War and Prospects for the Future,” held in Beijing on Nov. 12–13, 1995, by the China Institute of Contemporary International Relations and the Australian National University.     

Singapore′s globalization strategy

For singapore, it is not a question of whether to globalize, but how to globalize. While Singapore may be handicapped by its small size and lack of natural resources, it seems that these drawbacks could be less of a problem as the world economy becomes more sophisticated. Physical size and natural resources will become less important for economic growth when compared with human capital, information, and knowledge in the future. To build the city-state, the Singaporean government adopted a number of bold strategies to develop its economy, making it a leader among the newly industrialized nations involved in the region. Singapore's export-oriented industrialization evolved in several stages and had to overcome obstacles along the way. Its success was dependent on enlightened government policy in cultivating good relations with multinational corporations and cooperation between the government-run and private enterprises. A review of the economy in the last decade gave birth to the Strategic Economic Plan of 1991. Besides underlining the importance of the manufacturing and service sectors, the plan also emphasized the regionalization and globalization of the economy. While the Asian economic crisis has affected Singapore's development, it has not changed Singapore's determination to globalize and liberalize its economy. An earlier version of this article was presented at the conference on “Globalization and new Governance,” hosted by the Semin Foundation and Asia Pacific Public Affairs Forum in Suwon, Korea, 7–11 October 1999.     

Asia‐Pacific economic cooperation: Progress and prospects

Secretary of Foreign Affairs Domingo L. Siazon Jr. of the Philippines discusses the Asia‐Pacific Economic Cooperation (APEC) forum's path to the present, and charts a map for its future. Siazon sees the importance of promoting greater private‐sector involvement in APEC and enhancing economic cooperation among member economies. Siazon discusses the special significance of this year's meetings to be held at Subic Bay in the Philippines, the former home of the US Pacific Fleet and now a growing industrial and tourism center. Pursuing APEC's free‐trade goals, he says, holds the brightest economic future for the Philippines and the region.     

A new phase in Japanese economic cooperation

The merging of the Overseas Economic Cooperation Fund (OECF) and the ExportImport Bank of Japan to form the Japan Bank for International Cooperation (JBIC) signals a new phase in Japanese economic cooperation. In this article, Akira Nishigaki, former president of the OECF , describes the role and significance of Japan's official development assistance and considers recent policy trends and issues. It is essential for the peace and prosperity of Japan and of the world as a whole, he says, that Japan maintain favorable relations of interdependence in the international community. In this spirit, he expresses his hope that in funding and implementing assistance the JBIC will continue to strengthen Japan's considerable contribution to the development of developing countries.     

Japan-Asia economic relations: Trade, investment, and the economic crisis

Japan has been and will continue to be an important economic player in the Asian region through its internationalization policy involving trade, foreign investments, aid, technical and other forms of economic cooperation. More recently, despite its own domestic problems, Japan has extended financial and other forms of assistance and support to the Asian economies which have been hit by the economic crisis. As it is in its interests that the Asian region survives and recover, Japan will indeed continue to lend a helping hand to Asia, either through unilateral or multilateral forms of assistance or both. Due to growing interdependence, Asia needs Japan and Japan needs Asia. This article analyzes Japan's economic relations with Asia. In particular, it hopes to present an overview of Japan’s involvement in Asia through trade and investments prior to the Asian economic crisis which began in July 1997. Moreover, this article provides an assessment of the crisis and identifies Japan’s responses and involvement towards the economic recovery of the crisis-hit economies in the region. The article draws from earlier versions of various papers presented at conferences and seminars in Washington, D.C. (1997), Japan and Mexico (1998), and Singapore and Thailand (1999).     

Between crises and sanctions: economic policy of the Russian Federation

This paper examines the root causes and features of crises of the Russian economy in 2014–2015 as a combination of structural and institutional problems, as well as cyclical and external shocks. The demand-side model of economic growth based on massive windfall revenue from oil and gas exports from the 2000s is now exhausted, and the country needs to shift to a new, supply-side model of growth. Mobilization and liberalization are discussed as two key economic policy alternatives. The analysis includes historical retrospection, which provides some important lessons from economic developments in the twentieth century: the Great Depression and the period of stagflation, the Soviet industrialization debate and perestroika, and the New Economic Policy in the USSR and the contemporary modernization of China. Special attention is paid to the mechanisms of economic growth acceleration in present-day Russia. They include macroeconomic stabilization, structural and institutional reforms based on liberalization of economic activity, and guarantees of property rights.     

China’s Surging Energy Demand: Trigger for Conflict or Cooperation with Japan?

This article revisits a conventional interpretation of Sino-Japanese energy relations from geopolitical and zero-sum viewpoints. Contemporary Sino-Japanese disputes over the East China Sea and their scramble over a crude-oil pipeline from Russia have drawn global attention to the intensification of the rivalry between the two giant energy consumers. Beijing and Tokyo, however, have gradually found common interests resulting from business opportunities, environmental countermeasures, etc. Russia’s failure in driving a wedge between China and Japan, and the United States’ proactive engagement in Asia-Pacific energy issues, appear to provide new opportunities in which the East Asian powers’ energy rivalry can be reduced.

Japan's role in overcoming the Indonesian economic crisis

The prospects for economic recovery in Indonesia depend partly on economic improvement in the other countries of the Asia‐Pacific region, says Sujatmiko, Counsellor of the Indonesian Embassy in Tokyo. If Japan were successful in generating a strong domestic economic recovery, that would in turn help Asia's recovery. The Japanese government's quick and positive response to the financial crisis in Indonesia has been greatly appreciated, although not without its problems. Notably, other major powers have wanted to play a significant role in saving Asia, and some regional rivalry has surfaced. For Japan, Sujatmiko says, the biggest obstacle against taking a leading role has been its closest ally, the United States.     

Russia and the United States: Still cold in Northeast Asia?

The US has been reluctant to acknowledge Russia's relevance to the Asia‐Pacific, the author says, because “too little time has passed since the interests of these two former adversaries collided in the region.” Russia has the longest Pacific coastline and borders with China, Japan, Korea and Mongolia. Despite the end of the Cold War, however, Russia is still not an integrated participant in Northeast Asian economic cooperation. Vladimir Ivanov is a Visiting Fellow at the Economic Research Institute for Northeast Asia in Niigata. He argues that Russia has made a clear choice between “guns and growth,” and that the country should be allowed to come in from the cold and join this region's development.     

Nagano Shigeo: Business Leadership in the Asia Pacific Region and the Formation of the Pacific Basin Economic Council

The Pacific Basin Economic Council (PBEC) was established in 1968 through the initiatives taken by the Japanese and Australian business leaders. This article focuses on the ideas and activities of the Japanese and Australian business leaders in the establishment of PBEC, especially those of Nagano Shigeo and W.R.C. Anderson, both of whom devoted themselves to the establishment of PBEC, while cooperating with each other. The central questions posed are: how and why Nagano and Anderson came to consider it desirable to establish an economic institution in the Asia Pacific region in the mid-1960s; how and why those ideas were refined and transformed into the establishment of PBEC; what approaches business leaders in other countries took towards Pacific cooperation and how the Japanese and Australians adjusted different interests of people in other countries in organising PBEC. Finally, the article assesses the role played by PBEC in the development of economic cooperation in Asia and the Pacific and insists that it should help set up foundations for the subsequent organisations of regional economic institutions such as the Pacific Economic Cooperation Council (PECC) and the Asia Pacific Economic Cooperation (APEC) forum.     

Transportation of Korean Slave Laborers During World War II: Kanfu Ferries

Japan was more dependent upon ocean shipping than any other major power during World War II, and the sea route had been the only means of transportation between Korea and Japan. The connecting steamers contributed to Japan’s wartime economy by transporting not only raw materials, but also forced laborers and sex slaves between Korea and Japan. More importantly, these connecting steamers were linked to railroads and land routes in Korea and were connected to various systems of transportation, including merchant ships and regular liners outside Japan. In this paper, we examine how Korean laborers and sex slaves were mobilized and transported from Korea to Japan during World War II by focusing on the interdependent relations between railroad-connecting ships and a travel agency.

South Korea-China economic relations: Trends and prospects

Since the establishment of official diplomatic ties in 1992, bilateral economic relations between Korea and China have rapidly improved. The economic dynamism in China is expected to continue in the future. As continued economic development of China gains momentum, the economic relationship between the two countries will further be strengthened. However, future bilateral economic cooperation will take a path that differs significantly from the past. Both the quantity and quality of economic relations will increase and improve. In particular, Korea’s investment in China, which tends to be concentrated in the manufacturing sector, will broaden out to nonmanufacturing sectors, with the strategic motive of gaining access to China’s huge domestic market. His publications includeNortheast Asian Economic Cooperation: Perspectives and Challenges (KIEP, 1991).     

Communist China’s entry into the Korean hostilities and a U.S. proposal for a collective security arrangement in the Pacific offshore island chain

In late 1950, against the background of communist China’s full entry into the Korean War, the U.S. government put forward a Pacific Ocean Pact, which would comprise the United States, Japan, the Philippines, if possible Indonesia, Australia, and New Zealand. This article, after tracing China’s intervention in the Korean War, discusses U.S. policy planning on the proposal for a Pacific Pact, and examines the precise objectives of the proposal. It is argued that the American proposal for a Pacific offshore island chain pact was basically intended to enhance U.S. security interests in Northeast Asia, particularly Japan. The Pacific Pact proposal therefore contained a scheme for committing formally substantial U.S. armed forces to the defense of the Pacific Ocean; the revitalization of Japanese power; and the welding of the resources of strength of Australia, New Zealand, and the Philippines to the defense of Japan.     

The North Pacific triangle: Sources of economic and political transforation

This article explores the changing economic and security relationships among the United States, Japan, and South Korea, with particular attention to the implications of post-1985 exchange-rate shifts for political and economic stability in these three nations. The author argues that the stability and cohesion of this strategically important North Pacific triangle, the only point outside Europe where the economic and military superpowers all adjoin one American to the Japanese market as the locus of regional growth, due to disproportionate and destabilizing adjustment costs being imposed on South Korea. Expanded American, and especially Japanese support initiatives are the principal alternatives to intensified Korean reliance on continental Asia, the article maintains.     

Trilateral trade relations among China,Japan and South Korea: Challenges and prospects of regional economic integration

China’s emergence as a global and regional manufacturing center has significant implications for the Northeast Asian economies of Japan and South Korea. China's trade with Japan and South Korea has been rapidly growing in relative importance, largely facilitated by China's rise as a regional production base as well as changes in the trade structures between China and her neighbours. Indeed, in recent years, China has been the main driving force behind Northeast Asian trade interdependency. The strong economic linkages and complementarities among China, Japan and South Korea augur well for the further integration among the three Northeast Asian countries. Establishing a trilateral free trade arrangement (FTA) provide new opportunities to enhance the three countries’ overall growth potential through trade and investment. However, such Northeast Asian regional integration is destined to be a long, drawn out process. The forging of a trilateral trading arrangement between China and her two neighbours remain a long term vision in view of the many outstanding issues and obstacles.