Economics
Economics
Industry and trade
Environment
Energy
Urban development
Regional cooperation and integration
Finance sector development
Economics
Finance sector development
An analysis of challenges faced by Abenomics
In December 2012, Japan’s Liberal Democratic Party won the general election, making Shinzo Abe Prime Minister of Japan, a post that he had previously held in 2007. “Abenomics” refers to the economic policies advocated by the prime minister after the election, which were designed to revive the sluggish economy with “three arrows”: (i) fiscal consolidation, (ii) more aggressive monetary easing by the Bank of Japan, and (iii) structural reforms to boost Japan’s competitiveness and economic growth.
From the Russian Federation’s focus on Europe to its pivot to Asia
The United States’ “pivot to Asia” has been intensely discussed over the last years. But recently, a new pivot model has come up: the Russian Federation’s pivot to Asia. This article analyzes this topic from an economic perspective by asking: Is the Russian economy really about to shift its focus thus far centered on the European Union (EU) to Asia?
From global factory to global mall: East Asia’s changing export composition
Over the past decades, East Asia has been the most successful region in the world in building up cross-border supply chains and has subsequently become described as “Factory Asia” (Baldwin 2008). In a form of “triangle trade”, advanced countries in East Asia exported sophisticated parts and components to less developed countries in the region, where these are assembled into final consumption goods and then shipped to rich-nation markets, especially the US and EU (Baldwin and Kawai 2013).
Window of opportunity still open on climate action
A set of reports by the Intergovernmental Panel on Climate Change (IPCC), the last of which was released on November 2, 2014, sets the scene for governments to renew their efforts on the issue through ambitious commitments for a comprehensive climate agreement in Paris in December 2015.
Securing energy for low-carbon Asia: What needs fixing?
The pattern of energy supply and demand that has prevailed over the last 3 decades is undergoing transformation, with great consequences for Asia’s energy security and regional cooperation. The two factors driving this transformation are the rise of the Association of Southeast Asian Nations (ASEAN), the People’s Republic of China (PRC), and India as major energy consumers, and the impressive additions to oil, gas, and coal output. The first is driven by growing populations, industrial growth, and economic ascendance of emerging economies. The second stems from the opening up of new geological formations for the production of conventional fuels at reasonable costs.
Walkability—Building cities for people too
With the urban population swelling the world over, it makes sense that we start—or go back to—designing cities for people too. People are a city’s principal raison d'etre. Cities therefore should be designed or redesigned to address one aspect that is at a more personal level for residents to make it greener: walkability.
Myanmar in transition: economic development and shifts in foreign aid from East Asia
One of the pillars of Myanmar’s democratic transition is its capacity to foster economic development through foreign investments. However, a huge infrastructure deficit combined with electricity shortages are serious concerns for foreign companies willing to operate in this promising new market. As Asia’s second poorest country, Myanmar’s leaders need a reliable foreign investor who has both the financial capabilities and the industrial skills to cope with the challenge. This partner is Japan.
Renminbi stepping in right direction toward internationalization
Over the past several decades, we have seen how the People’s Republic of China’s (PRC) high economic growth and increasing economic integration with other countries have led to a dramatic increase in the PRC’s clout in global output and trade. Just look at the facts. The PRC is the world's second largest economy, accounting for 12% of global gross domestic product in 2013. It is also the world's largest exporter and second largest importer, accounting for about 12% of world trade in 2013. Attracting more than $110 billion in foreign direct investment (FDI) in 2013, the PRC is the world's largest developing country recipient of FDI inflows. It is also the world's largest holder of FX reserves, with a total of $3.8 trillion in reserves at the end of 2013.
Can president-elect Joko Widodo transform Indonesia’s economy?
Indonesia's president-elect Joko Widodo (Jokowi) has declared he aims to push the growth rate of the economy above 7% a year. The growth rate has been running below 6% a year, and the World Bank and IMF predict that it will continue at 5.6% and 5.8%, respectively, in 2015.
Banking integration in ASEAN gathers pace
The ASEAN Economic Community, planned to come into effect in 2015, is expected to liberalize goods, capital and skilled labor flows in the ASEAN region. While there has been considerable progress in the area of trade integration, financial integration still lags behind. The ASEAN Banking Integration Framework, which aims to liberalize the banking market by 2020, could help pave the way for further integration and the entry of ASEAN banks into regional banking markets.
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