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The launch of the ASEAN Economic Community raises key issues: the deepening of regional trade and production sharing, and the associated problem of exchange rate management. This volume questions the capacity of a shallow institution to deal with complex consequences on employment and inclusiveness, creativity and connectivity, and inequality and social cohesion. At a time when broader agreements are competing for regional leadership, contributors debate whether ASEAN can serve as a model of integration or else be diluted in wider Asian and Pacific arrangements. Approaches combine economics, history, geography, and political science to provide a clear understanding of ASEAN's potential and weaknesses in technical and non-technical but always readable terms.

This book consists of 20 short essays on different dimensions of international economic policy with specific (though not exclusive) focus on Asia. Topics covered include: exchange rate regimes and reserve buildup in Asia; global macroeconomic imbalances; financial sector liberalization; international capital flows to and from Asia; infrastructure financing in Asia; foreign direct investment (FDI) flows, production networks, manufacturing and outsourcing in Asia; the economic rise of China and India; and trade, financial and monetary regionalism in Asia. While the book covers important and often technical economic issues of contemporary policy relevance, it is written in a manner that is easily accessible to non-economists, including students of public policy, international affairs, international commerce and business, as well as policy-makers and interested observers.Contents:Monetary and Exchange Rates Issues:Asia's Embarrassment of Riches: A Story of Prudence, Global Imbalances, and Some Good Old Fashioned MercantilismThe Known Unknown: The Whopping US Current Account Deficit and Its Implications (With Surabhi Jain)Will the US Dollar Remain ‘Top Dog'?: The Billion Dollar Question (With Jose Kiran)A Central Banker's Holy Grail: Inflation-Targeting Frameworks with Reference to Asia (With Tony Cavoli)Singapore's Currency Baskets and the Mantra of Competitiveness: The Importance of Real Exchange RatesFinancial Liberalization, Financial Crises and the Financing of Development:Barbarians at the Gates: Foreign Bank Entry in AsiaThe Tobin Tax: A Panacea for Financial Crises?International Capital Flows to Asia: The Never-ending Magic Spigot?Using Reserves to Finance Infrastructure in India: Will it Clear the Gridlock?The Goldmine of Development Finance: Reassessing the Importance of Migrants'RemittancesTrade, Investment and the Rise of China and India:The “Do's and Don'ts” of Attracting Foreign Direct InvestmentChips from East Asia, Hardware from Southeast Asia, and Assembled in China: Production Sharing and Trade in AsiaAll Paths Lead to India: Do Other Asian Countries Pose a Challenge to Its Dominance in Services Outsourcing? (With Sadhana Srivastava)The Rise of the Indian Manufacturing Sector: A True Underdog StoryWill the Big Tiger Leave Any Crumbs for the Little Dragons? China vs Southeast AsiaEconomic Regionalism in Asia:Embracing One's Neighbour: Redefining the Importance of India to ASEANGoing It Alone: Singapore's Trade Strategy (With Rahul Sen)ASEAN Economic Integration: Taking Care of BusinessUncooperative Cooperation: The Saga of Economic Cooperation in South AsiaMonetary and Financial Cooperation in Asia: More than Just Buzzwords?Readership: Policy-makers, professors and students of international economics and political economy; investment bank/private sector industry economists and business leaders.

Asia was probably the biggest economic sensation of the post-war decades. The breathtaking success of Japan was followed by a remarkable rise of " four tigers" , then ASEAN founder states and then China. The Asian miracle became a commonly accepted definition of this success. In the late 1970s and especially 80s it became clear that the balance of power in the world had changed. Politicians, businessmen, scholars began to talk about " the new Asia Pacific age" and Asian economic model, different from and, maybe, even superior to Western capitalism. However, in 1997-98 the Asian economic crisis came and made the region a sick man. Six years before that Japan, the regional powerhouse entered more than a decade-long period of stagnation. The miracle was over. However, the crisis was overcome within a surprisingly short period of time. Naturally, the question arises: What now? What is going on in the region after the miracle and after the crisis? What is today's face of Asian capitalism and how should we view its performance? Readers interested in regional developments will find a lot of literature about miracle decades and crisis years. However, few analysts have addressed the challenging questions addressed in this book. The authors vividly show that Asian capitalism is undergoing a radical structural transformation. These changes are directly affecting its key institutions: governments, companies, labor relations, etc. As a result Asian economic systems are becoming much closer to the Western-style, especially Anglo-Saxon capitalism, though the region retains some important specific features, especially regarding business culture. This book is a must for business people worldwide, for all those who study the region in colleges and business schools, for people engaged in various international activities and, finally, for all those who want learn more about our world at the dawn of the new century.

This is the only English language publication with a distinctly Northeast Asian (outside Japan) and Chinese perspective on pan-East Asian Regionalism (including both Northeast and Southeast Asian Regionalism) published within the last 5 years that is distributed internationally. It traces the development of Asian regionalism and analyzes China's role and policy on East Asian cooperation and integration. The 15 chapters in this volume directly involve all major policy researches and project designing in the process of the East Asia cooperation. They provide valuable information for knowing, understanding and studying the ongoing process of regional cooperation in East Asia.Contents:East Asian Cooperation: Path & ApproachEmerging East Asian RegionalismProjecting East Asian Community-BuildingEast Asian Cooperation: Where is It Going?Northeast Asian Community: Is It Possible to Turn Vision into Reality?The Development of East Asian FTA China's FTA Strategy: An Overview Designing East Asian FTA: Rational and FeasibilityHow to Promote Monetary and Financial Cooperation in East AsiaThe Asian Financial Crisis and Regional Cooperation Environment and Energy Cooperation in East Asia China's Economic Emergence and Regional CooperationChina's Accession to WTO and Its Impact on China–ASEAN RelationsChina–ASEAN FTA and Its ImpactComparing China and Japan in Developing Partnership with ASEANReadership: Academics, researchers and students interested in the development of the East Asian Cooperation Movement.

This volume is an updated survey and assessment of the recent policy initiatives of Hu Jintao and Wen Jiabao, which have come to be known as the Hu-Wen's New Deal. Individual chapters are written by scholars from different academic disciplines and backgrounds. These scholars hail from Singapore, the United States, Australia, Korea, Hong Kong, Taiwan and Mainland China.Topics cover the patterns and process of leadership succession, emerging political factions, social unrest, sources of economic growth, income disparities, social security reform, land use policy, banking reform, corporate governance, labor and population policies, rule of law, and changes in the Party and ideology. On the external aspects, discussion includes China's changing relations with the U.S., Japan and ASEAN. In many ways, the Hu-Wen leadership today is still coming to grips with the same issues and problems as discussed in this book.Contents:Introduction:The Hu-Wen New Deal (J Wong & H Lai)Strengthening Governance and Rule of Law:Hu Jintao's Consolidation of Power and His Command of the Gun (J You)Deciphering Hu's Leadership and Defining New Elite Politics (C Li)Hu Jintao's Approach to Governance (J Fewsmith)Re-Making the Party's Image: Challenges for the Propaganda Department (Y Zheng & L F Lye)Reforming the Party and the State Under Hu Jintao (S-C Hsu)Rule of Law and Governance (K Zou)Sustaining Economic Growth and Reform:New Patterns of Economic Growth (Y Wu)Changes and Reform in Financial Markets (H Davies)Strengthening Corporate Governance: Completing the Unfinished Business of SOE Reform (S Y Tong)The Effects and Implications of Foreign Direct Investment in China for Other Developing Economies: Hollowing Out or Filling in? (B Chantasasawat et al.)Changing Land Policies: Ideology and Realities (J Wong & R Liang)Coping with Social Issues and Tensions:Income Inequalities, Limited Social Mobility and Remedial Policies (H Lai)Labor Market Reforms Under Hu-Wen Administration (L Zhao)Managing Social Unrest (Y Cai)From Social Insurance to Social Assistance: Welfare Policy Change (E X Gu)Governments, Markets, and the Health Care Sector (? Blomqvist)Population Development Strategies: The New Thinking (X Peng)Managing China's External Relations:Bush's Asia Policy and US-China Relations (Q Zhao)China and Northeast Asian Cooperation: Building an Unbuildable? (J H Chung)China and Southeast Asia Cooperation: New Developments and Challenges (H Zhang)Readership: University and academic libraries, experts in politics, diplomacy, economics, law and sociology analysts, officials, journalists and segments of public interested in China.

As imports from the People's Republic of China (PRC) have surged in recent years, posing a threat to some U.S. industries and manufacturing employment, Congress has begun to focus on not only access to the Chinese market and intellectual property rights (IPO) protection, but also the mounting U.S. trade deficit with China as well as allegations that China is selling its products on the international market at below cost (dumping), engaging in “currency manipulation,” and exploiting its workers for economic gain. Members of the 109th Congress introduced several bills that would impose trade sanctions on China for intervening in the currency market or for engaging in other acts of unfair trade, while the Bush Administration has imposed anti-dumping duties and safeguards against some PRC products and pressured China to further revalue its currency and remove non-tariff trade barriers. China runs a trade surplus with the world's three major economic centers — the United States, the European Union, and Japan. Since 2000, the United States has incurred its largest bilateral trade deficit with China ($201 billion in 2005, a 25% rise over 2004). In 2003, China replaced Mexico as the second largest source of imports for the United States. China's share of U.S. imports was 14.6% in 2005, although this proportion still falls short of Japan's 18% of the early 1990s. The United States is China's largest overseas market and second largest source of foreign direct investment on a cumulative basis. U.S. exports to China have been growing rapidly as well, although from a low base. In 2004, China replaced Germany and the United Kingdom to become the fourth largest market for U.S. goods and remains the fastest growing major U.S. export market. China is purchasing heavily from its Asian trading partners — particularly precision machinery, electronic components, and raw materials for manufacturing. China is running trade deficits with Taiwan and South Korea and has become a major buyer of goods from Japan and Southeast Asia. In the past decade, the most dramatic increases in U.S. imports from China have been not in labor-intensive sectors but in some advanced technology sectors, such as office and data processing machines, telecommunications and sound equipment, and electrical machinery and appliances. China's exports to the United States are taking market share from other Pacific Rim countries, particularly the East Asian newly industrialized countries (NICS), which have moved most of their low-end production facilities to China. This book provides a quantitative framework for policy considerations dealing with U.S. trade with China. It provides basic data and analysis of China's international trade with the United States and other countries. Since Chinese data differ considerably from those of its trading partners (because of how entrepot trade through Hong Kong is counted), data from both PRC sources and those of its trading partners are presented. Charts showing import trends by sector for the United States highlight China's growing market shares in many industries and also show import shares for Japan, Canada, Mexico, the European Union, and the Association for Southeast Asian Nations (ASEAN).

This major study examines China's relations in the Asia region, which is a region of increasing economic importance, as well as having a geopolitical sensitivity. The rise of China in the past 30 years has had a tremendous impact on the region. Looking at East Asia and China's changing relations with its neighbors, emphasis is given to trade and economic relationships, as well as security issues, such as the Korean peninsula. Also examined are China's relations with ASEAN countries, the China-ASEAN Free Trade Zone, and the potentially powerful China-India relationship. Economics and trade are the fabric which links China to its neighbors, and the region is one of the most dynamic in the world. However, security issues are central to the Asian dynamic. The book also evaluates the US global strategy and its impact on the Asia-Pacific region. It is unique in that it is written from a Chinese perspective by leading scholars and policy advisers in China. (Series: China International Relations)

International labour migration can be characterized in three ways — as human aspiration, tradition, and necessity. For some people, working overseas is a dream. For others, international labour mobility is a tradition. For a great number of people, however, international labour migration is an economic necessity. It is the only viable solution to realize their basic human right to a decent life.

Developing Strategies for the Modern International Airport identifies and analyses the primary issues facing the modern international airport, and their role in a global economy. Based on the premise that the aviation industry has a primary and decisive role in the economic and social development of the modern international economy, this book examines the modern international airport and its process of integration into the larger global economy.As the integration of the aviation industry within the larger context of international business grows, there are an increasing number of important airport sites world wide, which are exhibiting the characteristics of what has been called by one authority an ‘aerotropolis', where major airports are integrated into the wider multi business dynamics of cities such as Shanghai or Beijing.Such pioneering developments are indicative of this region and bring with them a host of new issues and challenges for economic development. While international projections of the growth in demand for aviation services suggest that the key region for future expansion will be the ASEAN group of countries, there are marked differences between countries in their overall plans for viable economic development. As a result, the essential raising of funding required for international airport development must compete against other potential development projects all trying to attract the attention of national policy makers. Developing Strategies for the Modern International Airport examines the issues within the context of the development of a new generation of international airports in East Asia. The approach is multidisciplinary, with individual chapters reviewing and analysing the range of strategic issues facing the modern international airport from different perspectives: economic, geopolitical, developmental, demographic and geographic. The book also identifies matters and issues that could form the agenda for further and more detailed examination.The readership will include university and tertiary students engaged in the study of aviation management, as well as aviation economics and economic geography. The work will also be of interest to airport managers and officials employed by key regulative agencies and research centres working in aviation studies.

This vital book examines the effect of the China-ASEAN FTA Early Harvest Program from a Chinese perspective and also from the perspectives of major members of ASEAN. It explores how regional trade has allowed greater market access, increased competitiveness and discusses the benefits and the problems for those involved.