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Asia Unbound

CFR experts give their take on the cutting-edge issues emerging in Asia today.

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Showing posts for "Economics"

The Rise of Modern State Capitalism

by Joshua Kurlantzick
gazprom Gazprom Chief Executive Officer Alexei Miller attends an annual general meeting of the company's shareholders in Moscow, Russia, on June 30, 2016. (Maxim Shemetov/Reuters)

China’s state-owned enterprises have received the most coverage of any such companies around the world, but they are hardly alone. In fact, although China has been the focus of nearly all discussion of the trend in the West, it is only one player in a new era of state capitalism born over the past decade. Throughout the developing world, many governments are increasing their intervention in their economies. Read more »

Friday Asia Update: Five Stories From the Week of July 8, 2016

by Guest Blogger for Elizabeth C. Economy
Dhaka-ceremony People attend a candle light vigil for the victims of the attack on the Holey Artisan Bakery and the O'Kitchen Restaurant, in Dhaka, Bangladesh, July 3, 2016. (Adnan Abidi/Reuters)

Rachel Brown, Lincoln Davidson, Bochen Han, Gabriella Meltzer, and Gabriel Walker look at five stories from Asia this week.

1. Dhaka attacks designed to “reverberate globally.” Bangladesh is still reeling from last Friday when at least five Bangladeshi men stormed the Holey Artisan Bakery in Dhaka’s affluent Gulshan neighborhood and unleashed horror within. Read more »

Podcast: China’s Offensive in Europe

by Elizabeth C. Economy
ChemChina-Syngenta-deal Ren Jianxin, Chairman of China National Chemical Corp shakes hands with Swiss agrochemicals maker Syngenta's President Michel Demare (R) after the company's annual news conference in Basel, Switzerland, February 3, 2016. That day, China made its boldest overseas takeover move yet when state-owned ChemChina agreed a $43 billion bid for Swiss seeds and pesticides group Syngenta. (Arnd Wiegmann/Reuters)

In this week’s Asia Unbound podcast I speak with Philippe Le Corre, visiting fellow at the Brookings Institution, about his new book with Alain Sepulchre, China’s Offensive in Europe. Le Corre is a keen observer of the inroads that Chinese companies are making into the European continent through widespread merger and acquisitions of European firms. He describes Beijing’s push for Chinese companies not only to diversify their international holdings—as in the case of the state-owned enterprise ChemChina purchasing Pirelli, a well-known Italian tire-maker—but also to establish global brands of their own. In some cases, like that of the German manufacturer Putzmeister, flagging European companies acquired by Chinese ones can enjoy a new life by gaining greater access to the Chinese market. Read more »

Podcast: How State Capitalism is Transforming the World

by Elizabeth C. Economy
State-Capitalism-Kurlantzick

In this week’s Asia Unbound podcast I speak with Joshua Kurlantzick, CFR’s senior fellow for Southeast Asia, about his new book, State Capitalism: How the Return of Statism is Transforming the World. Kurlantzick explains that although state capitalism has been around for more than two decades, it has entered a new era of popularity. Read more »

Friday Asia Update: Five Stories From the Week of May 13, 2016

by Guest Blogger for Elizabeth C. Economy
Philippines-transgender-congress Geraldine Roman, a transgender congressional candidate, waves to her supporters as confetti rains during a “Miting de Avance” (last political campaign rally) for the national election in Orani town, Bataan province, north of Manila in the Philippines, May 6, 2016. (Romeo Ranoco/Reuters)

Ashlyn Anderson, Rachel Brown, Theresa Lou, Gabriella Meltzer, and Gabriel Walker look at five stories from Asia this week.

1. Philippine congress gains its first transgender member. Despite the country’s discriminatory laws against gay and transgender people, Liberal Party candidate Geraldine Roman received more than 60 percent of the vote in her home province of Bataan in northern Philippines. Roman comes from a long line of politicians, and will take the congressional seat occupied by her mother during the previous three terms. Read more »

Podcast: What Everyone Needs to Know About China’s Economy

by Elizabeth C. Economy
Kroeber-Chinas-Economy

On this week’s Asia Unbound podcast, I speak with Arthur Kroeber, founding partner and head of research at Gavekal Dragonomics and author of the just-released China’s Economy: What Everyone Needs to Know, about why China’s much ballyhooed economic reforms have fallen flat. Kroeber argues that the Chinese leadership’s contradictory belief in both a “decisive” role for markets and a “dominant” state sector has not yet been resolved and is the fundamental barrier to economic progress. Read more »

Friday Asia Update: Five Stories From the Week of May 6, 2016

by Guest Blogger for Elizabeth C. Economy
Supporters chant slogans as the motorcade of presidential candidate Rodrigo "Digong" Duterte passes by during election campaigning in Malabon, Metro Manila in the Philippines April 27, 2016. REUTERS/Erik De Castro Supporters chant slogans as the motorcade of presidential candidate Rodrigo "Digong" Duterte passes by during election campaigning in Malabon, Metro Manila in the Philippines on April 27, 2016. (Erik De Castro/Reuters)

Ashlyn Anderson, Rachel Brown, Lincoln Davidson, and Gabriella Meltzer look at five stories from Asia this week.

1. Duterte ahead in Philippine pre-election polls. Leading candidate Rodrigo Duterte is currently the mayor of Davao city on the southern island of Mindanao, where he is considered to have effectively cracked down on crime and improved the local economy. Duterte has pledged to do the same for the nation if elected and and to act decisively as president. He leads in current opinion polls with roughly 32 percent of the vote, and is trailed by Senator Grace Poe with 25 percent, and Interior Minister Mar Roxas with 22 percent. Read more »

TPP and its Implications for Global Access to Medicines

by Guest Blogger for Yanzhong Huang
The twelve Trans-Pacific Partnership (TPP) Ministers hold a press conference to discuss progress in the negotiations in Lahaina, Maui, Hawaii July 31, 2015. Pacific Rim trade ministers failed to clinch a deal on Friday to free up trade between a dozen nations after a dispute flared between Japan and North America over autos, New Zealand dug in over dairy trade and no agreement was reached on monopoly periods for next-generation drugs. (Marco Garcia/Reuters) The twelve Trans-Pacific Partnership (TPP) Ministers hold a press conference to discuss progress in the negotiations in Lahaina, Maui, Hawaii July 31, 2015. Pacific Rim trade ministers failed to clinch a deal on Friday to free up trade between a dozen nations after a dispute flared between Japan and North America over autos, New Zealand dug in over dairy trade and no agreement was reached on monopoly periods for next-generation drugs. (Marco Garcia/Reuters)

Mi Lin is an intern for Global Health Governance at the Council on Foreign Relations.

On March 9-10 and March 16-17, two sections of the United Nations Secretary-General’s High-Level Panel on Access to Medicines (UNGSAM) were held in London and Johannesburg, respectively. These two conventions were launched in response to UN Secretary-General Ban Ki-moon’s call last November to “find solutions to the lack of access to medicines.” This was the first time such a high-level panel on access to medicines was made open to the public.  Though the two dialogues, one in a developed country and the other in a developing country, had different conversational dynamics, issues surrounding intellectual property (IP) rules in free trade agreements (FTAs) were frequently raised in both sections. Health advocates have long argued that stricter IP provisions in FTAs is a main barrier to access to essential medicines for populations in developing countries. As the recently signed Trans-Pacific Partnership (TPP) adds the latest development to this decades-long debate on trade and health, issues around TPP and its potential effects on global access to medicine also arose frequently at the panel. Read more »

How Could the Philippines’ Money Laundering Woes Affect Overseas Workers?

by Guest Blogger for Elizabeth C. Economy
Salud Bautista (R), president of PhilRem Service Corporation, a remittance and money changer company, answers questions from Senators, beside her lawyer, during a Senate hearing of money laundering involving $81 million stolen from Bangladesh's central bank, at the Philippine Senate in Manila April 19, 2016. REUTERS/Erik De Castro TPX IMAGES OF THE DAY Salud Bautista (R), president of PhilRem Service Corporation, a remittance and money changing company, answers questions from senators during a hearing at the Philippine Senate in Manila on money laundering involving $81 million stolen from Bangladesh's central bank on April 19, 2016. Greater scrutiny of PhilRem could have implications for other Philippine remittance services around the world. (Erik De Castro/Reuters)

Rachel Brown is a research associate in Asia Studies at the Council on Foreign Relations.

In February, $81 million stolen from the central bank of Bangladesh’s account at the Federal Reserve Bank of New York was laundered through the Philippines. Most observers worried about the security of the institutions involved. But equally if not more important is the potential impact on overseas Filipino workers. Increased scrutiny of vulnerabilities in the Philippines’ anti-money laundering provisions could make it harder for the over ten million Filipinos working abroad to send remittances home, as has occurred in many other developing nations. Globally, the Philippines is the third-highest recipient of remittances, which compromised 10 percent of GDP in 2014. These funds help fuel domestic consumption, and anything that affects the cost or ease of sending money to the nation will have significant economic implications. Read more »

Podcast: The Paper Tigers and Hidden Dragons of China’s Tech Sector

by Elizabeth C. Economy
Paper-Tigers-Hidden-Dragons-2

Chinese President Xi Jinping has claimed that the direction of China’s technological development is “innovation, innovation and more innovation.” But besides prominent success stories like Huawei and Lenovo, how innovative are other companies in China’s tech sector? In this week’s Asia Unbound podcast I talk with Douglas Fuller, professor of business administration at Zhejiang University’s School of Management, about his upcoming book—possibly the best China book I have read all year—Paper Tigers, Hidden Dragons: Firms and the Political Economy of China’s Technological Development. Read more »