JournalTOCs

East Asian Community Review
Number of Followers: 0

Hybrid journal (It can contain Open Access articles)
ISSN (Print) 2522-0675 - ISSN (Online) 2522-0683
Published by Springer-Verlag

[2469 journals]

East Asia and the European Union: Partners in Global Economic Governance
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  PubDate: 2019-06-01
  DOI: 10.1057/s42215-019-00023-3
The Effect of Fiscal Policy on Economic Growth in Myanmar
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  Abstract: Abstract This study examines the effect of fiscal policy on economic growth in Myanmar. The impact of fiscal deficit on nominal gross domestic product is analyzed using the ordinary least squares (OLS) method with annual data from 1979 to 2016. The results reveal a statistically significant relationship between the country's fiscal deficit and economic growth. Analysis shows the existence of a multiplier effect of deficit spending on economic growth, which confirms Keynesian assumptions. Myanmar actually needs to provide more public spending to invest in infrastructure development and public services delivery due to lack of private investment in infrastructure projects. Therefore, over the medium term, fiscal policy should maintain moderate expansionary measures. However, the critical question regarding public spending is determining in which areas to spend. Public spending should therefore be preferentially directed toward productive areas for long-term growth, such as infrastructure development, health and education, and poverty reduction programs. In addition, policymakers should always bear in mind that excessive deficit levels and chronic deficits can become unsustainable, adversely affecting macroeconomic stability.
  PubDate: 2019-06-01
  DOI: 10.1057/s42215-019-00020-6
The G20 Growth Challenge in the Framework of the EU–East Asia
Economic Relations
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  Abstract: Abstract With the broad aim of strong, sustainable, balanced and inclusive growth, the G20 has been contributing to the framing of global economic performance. This paper critically analyzes and assesses the progress in terms of achieving a number of economic objectives centered on the post-2008 global crisis challenge of economic growth revitalization; the analysis is based on the latest Communiqués since Hangzhou in 2016 so as to highlight the areas of convergence (conversely divergence) between the different official texts. Results show that although many policy measures have been acted upon, growth and macroeconomic recovery is still unconvincing, due to a number of long-term challenges (Brexit, protectionism) that could reposition the main G20 actors and reframe the EU–East Asia economic relations. A last section therefore discusses the impact that these long-term economic challenges could have in terms of reframing the G20 actors by looking at several long-term scenarios.
  PubDate: 2019-06-01
  DOI: 10.1057/s42215-019-00016-2
China’s Approach to Environmental Governance and the Role of the EU
in Market-Induced Reforms
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  Abstract: Abstract The Chinese central authorities have officially started to promote a “national ecological accounting and auditing scheme” (NEAS) to fight against domestic environmental degradation since 2013. Nevertheless, as a global issue, the conservation of ecological environment inevitably involves cooperation among nations in the context of global environmental governance. Through a comparative case study on the NEAS and the sustainability-related trade imperatives, this article investigates how the policy-based and the market-based mechanisms are perceived by some key institutions in the Chinese society, and to what extent they are expected to offer adequate solutions to China’s environmental challenges. Further, this study offers an analysis of the strategic partnership formed between China and the European Union in tackling environmental challenges, and thus seeks to contribute to a better understanding of how to shape sustainability through a collaborative way for “our common future” in a global agenda.
  PubDate: 2019-06-01
  DOI: 10.1057/s42215-019-00019-z
Twenty Years After the Financial Crisis in the Republic of Korea: The
Development of Financial Markets, Policy Frameworks, and Institutions
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  Abstract: Abstract This study reviews the evolution of financial markets, institutions, and policy frameworks in Korea since the 1997 Asian financial crisis and assesses their effectiveness in reducing the likelihood and adverse effects of future financial crises. The Korean experience in the 1997 Asian financial crisis and the 2008 global financial crisis showed that the downside costs of financial globalization were magnified in the areas of the economy in which the external positions and financial system had weaknesses. Korea has continued to amend the structural weaknesses in its financial sector and strengthen its policy frameworks. Its financial stability will be greatly influenced by changes in household and corporate financial soundness as well as external risks due to volatile capital flows, while its improved financial system and policy framework are likely to help mitigate the likelihood and impact of future financial turmoil. The Korean experiences suggest that, amid rapid financial globalization and innovation, emerging economies must support financial stability by improving prudential financial regulation and supervision and building up more effective macroeconomic and financial policy frameworks to deal with volatile capital flows and asset price bubbles while supporting financial innovation and its regulation in a balanced manner.
  PubDate: 2019-06-01
  DOI: 10.1057/s42215-019-00021-5
Sino–EU Cooperation 2.0: Toward a Global “Green”
Strategy'
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  Abstract: Abstract Based on an in-depth reading of policy documents and official speeches, this article examines global coordination and cooperation between the People’s Republic of China (PRC) and the European Union (EU) in the fields of global (green finance) governance. The article follows a three-step approach: It starts with a short evaluation of the PRC’s reconfiguration of its relations with the EU as embedded within China’s refined “global” strategy. As a second step, it sheds light on the EU’s recently updated response to China, before finally turning to both actors’ efforts to coordinate their “global” strategies. It argues that the position change of the USA facilitates the formation of new modes of Sino–EU coordination, especially in the innovative field of green (financial) governance. However, uncertainties about each other’s long-term orientations and normative ordering principles still overshadow the further deepening of their strategic partnership.
  PubDate: 2019-06-01
  DOI: 10.1057/s42215-019-00017-1
East Asia in Africa: The ‘Rival’ Policy Frameworks and the
Prospect for Cooperation
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  Abstract: Abstract This article engages in a comparative analysis of the foreign policy frameworks employed by East Asian countries of China, Japan, and Korea in pursuing their respective African policy. Having identified some convergence in the policy approach and policy interest, it proceeded to explore the prospect of synergistic interaction in shared areas of interest, viz. how the three countries can leverage their existing trilateral cooperation mechanism, and their shared self-interest in the development priorities of Africa to pursue a cooperative agenda. It is argued that the contemporary strategic focus of Africa by East Asia can be grasped in the context of unprecedented East Asia–Africa relations achieved through the institutionalization of dialogue oriented foreign policy frameworks as the ultimate enablers. As key diplomatic and development stakeholders in Africa, China, Japan and Korea should strive for complementary engagement and cooperation in shared areas of interest to support Africa’s development priorities.
  PubDate: 2019-06-01
  DOI: 10.1057/s42215-019-00024-2
The Globalization Trilemma and Regional Policy Space: Opportunities and
Challenges for the EU and East Asia
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  Abstract: Abstract One of the major challenges facing economies in Asia, Europe and elsewhere under intensive globalization is what Dani Rodrik refers to as the globalization trilemma: National sovereignty, globalization and democracy cannot be had at the same time. In this conceptual paper, the idea of a “regional policy space” beyond the level of national policy spaces is introduced to explore whether such spaces can soften the trilemma. Three major contributions are identified: First, for several undersupplied public goods, regions may be the optimal configuration level for providing them; second, evolutionary processes toward exploring the regional policy spaces may be helpful milestones toward eventually approaching multilateral solutions with a greater depth and width; and third, emerging regional leaders in today’s multiplex world can make positive contributions to this process, combining their strategic interests with helpful activities for the common good. Trans-regional schemes like ASEM may be tempting alternatives when global mechanisms are not available, but it is argued that their contribution as an additional policy space is limited. Adding the idea of a regional policy space to the concept of the globalization trilemma is assessed as a helpful heuristic device to illustrate major aspects of the potential choices, contributions and challenges of regional and trans-regional schemes in Asia, Europe and beyond.
  PubDate: 2019-06-01
  DOI: 10.1057/s42215-019-00018-0
Asian Indigeneity, Indigenous Knowledge Systems, and Challenges of the
2030 Agenda
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  Abstract: Abstract Adopted by the UN General Assembly in 2015, the 2030 Agenda pledges to leave no one behind through the 17 Sustainable Development Goals (SDGs) and 169 targets were ratified by the international community to address the global challenges of our time. This framework and universal action plan articulate the inclusion of the indigenous peoples in the social, economic, and environmental dimensions of sustainable development. Nonetheless, the world’s largest populations of indigenous peoples are in Asia. However, despite the affirmation of the United Nations Declaration on the Rights of Indigenous Peoples, the concept of indigeneity is still controversial, politically contested, and considered immaterial by many states in the Asian region. With limited rights and inadequate access to social services, indigenous knowledge systems and practices have evolved through time to provide solutions to local problems that marginalized many communities. This article revisits the sociopolitical notion of indigeneity in the region and its implications for the indigenous community. It also explores the diversity of indigenous knowledge systems and traditional practices and its relevance to the SDGs, particularly on food security, community livelihoods, human well-being, natural resources management, and biodiversity conservation. The conclusion reflects the need for legitimate recognition and political enablement of indigenous peoples in the implementation of the 2030 Agenda by forging collaborations between academic researchers, policy-makers, and indigenous organizations in the Asian community.
  PubDate: 2018-12-01
  DOI: 10.1057/s42215-018-00010-0
Why Declaring a Symbolic End to the Korean War' The Significance of
Dual-Track Evolutionary Processes and the Importance of Contents and
Participants
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  Abstract: Abstract The issue of a declaration to end the Korean War, first proposed by the Roh Moo-hyun administration, was elevated to a crucial status by the Moon Jae-in administration. However, the ambiguous nature of the declaration in terms of international law gave it a space for different understanding and interpretation for the parties concerned, causing the USA to worry about North Korea’s stretched interpretation of the declaration. Therefore, the declaration has been given different political implications by North Korea, South Korea, and the USA, making the parties concerned almost impossible to reach a consensus. From the perspective of constructing a long-running peace mechanism on the Korean Peninsula, there are many limitations and hidden dangers in signing a declaration only in a symbolic manner. A valuable declaration should be signed and implemented in tandem with the process of creating a peace mechanism of the Korean Peninsula. I argue that the timing for the declaration should come when the denuclearization of the Korean Peninsula proceeds from the stage of “freezing” to that of “dismantling.” The declaration should include key participants playing an active role in the process of denuclearization and three major elements: the end of the war, the direction of peace, and the principle of denuclearization.
  PubDate: 2018-12-01
  DOI: 10.1057/s42215-019-00013-5
The Strategic Choice of ROK Facing the Sino-US Competition
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  Abstract: Abstract President Donald Trump’s vision for US foreign policy can be summed up in two words: “America First” and isolationism. In the name of national interests, Trump’s America has not only treated its allies with a tint of harshness or contempt, but also defined China as a “revisionist” or “competitor.” Most of all, the Trump administration has intensified frictions and conflicts with China in all domains. Sino-US competition is the biggest external factor influencing the present and future situation of the Korean peninsula. As an ally of the USA and a strategic partner of China, the Republic of Korea (ROK) has clearly felt the pressure from the increasingly fierce competition between China and USA. On the one hand, it is difficult for ROK to disengage from military dependence on the USA. On the other hand, it is also inconceivable for ROK to terminate its political and economic cooperation with China. A series of policy measures implemented by the Moon Jae-in administration deserves some credit for strengthening the confidence that ROK can exert its diplomatic autonomy and flexibility and control its destiny. This article argues that, in an era of China–USA competition, ROK needs to find a way to avoid strategic dilemmas and make its diplomatic decisions more effective, only by judging accurately the changes of the geopolitical and geoeconomic climate in East Asia and anticipating reasonably the trajectory of China–USA competition.
  PubDate: 2018-12-01
  DOI: 10.1057/s42215-019-00011-7
Dutch Disease in Post-Soviet Oil Exporting Countries: Impact of Real
Appreciation on De-industrialization
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  Abstract: Abstract With the recent economic slowdown, there has been a growing concern that de-industrialization might result from resource abundance in the post-Soviet region. By using a comparative panel analysis of three countries of the post-Soviet region and 14 countries of selected oil exporters, this paper investigates whether real appreciation for the oil exporters contributed to de-industrialization in the region. We fail to find any evidence to support the claim that real appreciation caused de-industrialization in the region.
  PubDate: 2018-12-01
  DOI: 10.1057/s42215-019-00014-4
Playing the Game or Changing the Rules of the Game: Chinese and European
Approaches to Energy Cooperation in Central Eurasia
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  Abstract: Abstract As a region rich in energy resources, Central Eurasia has received much attention from importers such as China and the European Union. Recent years have seen Beijing develop and extend energy corridors out of Central Eurasia by means of several infrastructure interconnection projects carried out under the aegis of the Shanghai Cooperation Organisation. This article analyses the characteristics of Chinese engagement with Central Eurasia and contrasts these with the approach to energy cooperation taken by the European Union. These include the prominence of political and economic considerations in decisions about infrastructure development, the level of involvement of actors below the state, and the tendency to bilateralise and multilateralise cooperation around infrastructure. It is argued that China pursues a geographic or corridor approach to the development of the region’s resource economies. This is contrasted with the horizontal or sectoral approach adopted by the EU. Whereas Brussels has sought to reform the Central Asian energy market in line with its own standards and interests—and has in the process challenged established patterns of state ownership and control in the region—Beijing has adjusted itself to the developmental needs of its partners and has focused on opening new conduits for energy exports out of the landlocked region. The article uses official statements and press releases by Chinese and EU diplomatic missions in the region, annual reports of state-owned enterprises operating there, and confidential interviews conducted in Brussels, Geneva and one of the Central Asian capitals.
  PubDate: 2018-12-01
  DOI: 10.1057/s42215-019-00012-6
The Belt and Road Initiative: Impact on Trade Patterns Between China and
Central Asia
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  Abstract: Abstract The recent rise of Chinese overseas development assistance activities has inspired debate on various issues—to include the changing nature of world order. Amid this debate, this paper investigates the impact of the Belt and Road Initiative (BRI). It applies the gravity model and analyzes Chinese foreign aid data to reveal the impact of BRI on China’s trade with Central Asian countries. This study argues that the change in trade patterns in Central Asian countries is attributed to Chinese investment in the region’s infrastructural connectivity. The empirical results using panel data show that a 1% increase in bilateral official development flows (ODF) of China specific to five Central Asian countries leads to a 0.238% increase in Chinese bilateral trade volume with these recipient countries. Moreover, the impact of Chinese bilateral ODF (0.046%) is larger than the impact of the OECD’s average ODF (0.0077%) and Chinese bilateral ODF specific to five Central Asian countries have an even larger than average Chinese ODF impact (0.238%). This greater degree of impact of Chinese ODF is related to geographical proximity and to improvements in infrastructure connectivity. Recent trade increases between China and Central Asian countries are attributed to the recent construction of oil and gas pipelines under the BRI scheme and a rise in the export of Chinese manufacturing products.
  PubDate: 2018-12-01
  DOI: 10.1057/s42215-019-00015-3
Transboundary Air Pollution in South Korea: An Analysis of Media Frames
and Public Attitudes and Behavior
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  Abstract: Abstract The lack of a coherent policy to address seasonal air pollution in Northeast Asia is partly due to the complexity of the issue—that it is both domestic and transboundary in nature—and partly due to media frames that emerge in response to seasonal fluctuations. To provide a better understanding of these factors as well as their potential impact on public opinion and behavior, this paper claims that the varying narratives conveyed in the Korean media have an impact on and provide a basis for assessing Koreans’ opinions about the problem of air pollution, both transboundary and domestically. Invoking the extant literature that connects media effects with public opinion about air pollution, the analysis proceeds in two stages. First, based on an analysis of Yonhap News Agency reporting, it is shown that the emerging media-based frames are dominated by China and health-related content. Second, and in light of these frames, a survey is conducted of a representative sample of Seoul Metropolitan Area residents to determine how attention to the air pollution issue drives attitudes and, in turn, how such attitudes may be associated with specific pollution-reduction actions. Consistent with the media-based frames, it is shown that one’s attentiveness to the air pollution issue increases the importance one places on reducing Korea’s air pollution. Knowledge about air pollution also decreases one’s satisfaction with both Korea’s and China’s air pollution-reduction efforts. Knowledge about air pollution does not impact on Koreans’ decision to minimize exposure to air pollution outdoors (by wearing masks) or indoors (by using air purifiers), but it does increase the likelihood that one will simply stay indoors, indicating that health concerns are paramount for the average citizen.
  PubDate: 2018-12-01
  DOI: 10.1057/s42215-018-0009-1
Why Is There No Non-Western Community of Nations' Editor’s
Introduction
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  PubDate: 2018-08-01
  DOI: 10.1057/s42215-018-0008-2
The Shift of Japanese Foreign Policy: A Tilted Middle Way
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  Abstract: Abstract This paper will take a closer look at where Japanese foreign policy made three remarkably orientational changes at the historical crossroads of the Meiji restoration in 1868, American occupation in 1945–1952, and in the post-cold war era of the 1990s. During the post-cold war era, there arose prolonged policy debates where political elites in Japan reached a consensus of its foreign policy’s new direction, namely a “middle way” mainstream policy. But this “middle way” can be defined as “tilted,” meaning that under different circumstances, different ruling elites would exhibit different tendencies. The policy consensus on this is reflected in some heated internal debates, which have had a profound impact on Japan’s relations with China and the USA.
  PubDate: 2018-08-01
  DOI: 10.1057/s42215-018-0004-6
Free Trade Agreements and Patterns of Trade in East Asia from the 1990s to
2010s
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  Abstract: Abstract East Asia was slow in establishing free trade agreements (FTAs) compared to other parts of the world, where FTAs began to be actively formed in the late 1980s. Despite a slow start, East Asia quickly caught up with other regions in the FTA race. The Association of Southeast Asian Nations (ASEAN) has been a main player in the FTA race in East Asia, as ASEAN enacted ASEAN Free Trade Area as early as 1993 and then in the 2000s enacted five ASEAN+1 FTAs, separately with China, Japan, Korea, India, Australia and New Zealand. Economic as well as non-economic motives are found behind active establishment of FTAs by East Asian countries. Talks about establishing a region-wide FTA began in the early 2000s, but region-wide FTAs have not yet been formed. Trans-Pacific Partnership (TPP) covering 12 East Asian as well as Pacific countries was signed, but the US withdrawal from the TPP terminated the TPP process. Instead of the TPP, TPP11 or Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) without the USA was successfully negotiated and signed. Regional Comprehensive Economic Partnership (RCEP) involving 16 East Asian countries has been under negotiation but facing difficulty in reaching an agreement because of different views on various issues including market access among the negotiating members. Faced with growing protectionism in the world, it is important for RCEP and CPTPP to be enacted to keep the momentum toward trade liberalization. To successfully conclude the negotiations, compromise and strong political will of the leaders are needed. The paper also found that FTAs have contributed to promote trade between and among FTA members, contributing to the promotion of regional economic integration.
  PubDate: 2018-08-01
  DOI: 10.1057/s42215-018-0007-3
China's Rise, Developmental Regionalism and East Asian Community Building:
Cooperation Amid Disputes in the South China Sea
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  Abstract: Abstract Why the rapid rise of China coincides with peace and cooperation in East Asia' The paper argues for a distinctive form of regionalism practiced in East Asia, which can be called developmental regionalism. It means that regional processes are development-oriented and development-focused, featuring pragmatism, flexibility and developmental security. In development-oriented regionalization, practices and institutions coevolve for progress. Practices of developmental regionalism nurture the habit of cooperation and promote community building. As the growth engine in the region, China facilitates developmental regionalism. The paper takes the South China Sea disputes in the past few years as a case to illustrate how conflicts were averted and cooperation maintained and deepened between China and ASEAN and in East Asia even in a most sensitive area of territorial disputes and in the context of the dramatic change in regional power structure with China’s rapid rise. In conclusion, the paper also briefly discusses conditions and implications of developmental regionalism in world politics.
  PubDate: 2018-08-01
  DOI: 10.1057/s42215-018-0002-8
Community of Values or Community of Practice' Worlding the Study of
Region-Building
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  Abstract: Abstract This study contributes to the nascent worlding of the study of regionalism. In a significant departure from the existing literature, such investigation takes as its point of departure the different repertoires of region-building provided by the EU and China. For the EU, these are the legal framework of the acquis communautaire which presage a rule-based regionalization and for China, these are the social practices of guanxi which bespeak a relational regionalization. Such framing uncovers that regions are not merely geopolitical locals, but communities of practice defined by commitment to interaction and deliberate relations. This outlook calls for a regional-building attuned to the transient constellations of factors and actors that impact on the content, trajectories, and possible transformations in any social relationship. By bringing the European and Chinese experiences of regionalization into conversation, the analysis offers a possible analytical framework for the study of regionalism beyond the Eurocentric frame. The underlying aim is to aid the ability to engage an ever-changing world.
  PubDate: 2018-08-01
  DOI: 10.1057/s42215-018-0005-5