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Showing posts for "Trade"

Bangladesh: Capitalist Haven

by Alyssa Ayres
Dhaka, April 2014. Photo by Sharada Prasad CS licensed under CC BY 2.0 / Cropped from original.

Earlier this month, the Pew Research Center released the second of two major reports detailing findings from a global public opinion survey on economic issues conducted last spring in forty-four countries. Read together, the two reports reveal something you might not have guessed: Bangladesh is among the countries most supportive of the free market, and certainly the most free-market, trade-oriented country surveyed in South Asia. At least as far as public opinion is concerned, the People’s Republic of Bangladesh is a capitalist haven. Read more »

Maclachlan and Shimizu: Shinzo Abe’s Tug-of-War With the Farm Lobby

by Guest Blogger for Sheila A. Smith
Japan's Prime Minister Shinzo Abe drives a rice planting machine at a a paddy field in Sendai, Miyagi prefecture. (Courtesy Kyodo/Reuters)

Last week, ministerial negotiations on the Trans-Pacific Partnership (TPP) between Japan and the United States ended abruptly after the two sides failed to reach an agreement on key sticking points, including the removal of tariffs on sensitive Japanese farm products. The failure of the talks disappointed both sides, including Prime Minister Shinzo Abe, who has long upheld TPP as a fundamental component of his structural reform agenda. Read more »

The Failures of the ASEAN Economic Community

by Joshua Kurlantzick
jakarta-international-container-terminal A worker walks at the Jakarta international container terminal in Tanjung Priok port in this file photo from July 26, 2012. Southeast Asia has sought to overcome competing national interests and form a European Union-style economic community by 2015 (Supri/Courtesy: Reuters).

Next year, the long-awaited ASEAN Economic Community (AEC) will come into effect, welcomed surely by fanfare both from the organization and from all of the ten member states. Long promised by ASEAN countries but repeatedly delayed in its launch, the AEC is supposed to be a single market for all ten member states, similar in some respects to the early days of the European Union’s single market. In theory, the AEC would provide a major boost to intra-regional trade, which lags behind its potential, and also would help woo foreign investment region-wide. Read more »

India: Tough Talk and the Bali Trade Facilitation Agreement

by Alyssa Ayres
India's then-minister of commerce and industry, Anand Sharma (C), congratulates the director-general of the World Trade Organization (WTO), Roberto Azevedo (2nd R), after the closing ceremony of the ninth WTO Ministerial Conference in Bali on December 7, 2013 (Edgar Su/Courtesy: Reuters).

Last week India’s top trade negotiators told the World Trade Organization (WTO) that India would not support the package of trade facilitation measures that had been agreed to last December at the Bali ministerial. Because adoption of these measures must be done by consensus among WTO members by July 31, India’s rejection of the agreement now stands to render moot the entire trade facilitation effort. New Delhi’s stance not only puts up a roadblock on global trade, but will effectively halt any efforts to envision a larger ambition for the U.S.-India economic relationship—which badly needs one—by signaling that India at present does not want to stand with the global free and open trading system. Read more »

All Roads Lead to Beijing

by Elizabeth C. Economy
China's President Xi Jinping reviews an honor guard before a meeting with Brazilian President Dilma Rousseff on the sidelines of the 6th BRICS summit at the Planalto Palace in Brasilia July 17, 2014. REUTERS/Sergio Moraes (BRAZIL - Tags: POLITICS MILITARY) China's President Xi Jinping reviews an honor guard on the sidelines of the 6th BRICS summit at the Planalto Palace in Brasilia on July 17, 2014. (Sergio Moraes/Courtesy Reuters)

This post is one of a three-part Asia Unbound series following a recent CFR trip to India and China. See related posts from my colleagues Alyssa Ayres and Daniel Markey. Read more »

Making Progress at the U.S.-China S&ED: Go Strategic or Stay Home

by Elizabeth C. Economy
(L-R) Chinese State Councilor Yang Jiechi, U.S. Secretary of State John Kerry, Chinese Vice Premier Wang Yang and U.S. Treasury Secretary Jack Lew leave after the U.S.-China Strategic and Economic Dialogue (S&ED) Joint Opening Session at the State Department in Washington July 10, 2013. (L-R) Chinese state councilor Yang Jiechi, U.S. secretary of state John Kerry, Chinese vice premier Wang Yang and U.S. treasury secretary Jack Lew leave after the U.S.-China Strategic and Economic Dialogue (S&ED) Joint Opening Session at the State Department in Washington on July 10, 2013. (Yuri Gripas/Courtesy Reuters)

As the full contingent of U.S. cabinet secretaries, other senior officials, and support staff prepare for the sixth round of the U.S.-China Strategic and Economic Dialogue (S&ED) (to be held on July 9-10 in Beijing), it is not unreasonable to ask whether all the fuss and muss is worth it. Despite all the focus on this bilateral relationship, it often appears that for every problem addressed, ten more mushroom in its place. In the weeks leading up to the S&ED, a plaintive cry can be heard emanating from DC: Are we getting it right? What more can we do? I have two answers in response: batten down the hatches and get ready for the long haul; or stay home. Read more »

Prime Minister Modi to Bhutan, the Land of the Thunder Dragon

by Alyssa Ayres
File photo: Prayer flags hang near the ParoTaktsang Palphug Buddhist monastery, also known as the Tiger's Nest, in Paro district, Bhutan on October 16, 2011 (Adrees Latif/Courtesy: Reuters). File photo: Prayer flags hang near the ParoTaktsang Palphug Buddhist monastery, also known as the Tiger's Nest, in Paro district, Bhutan on October 16, 2011 (Adrees Latif/Courtesy: Reuters).

Next week Prime Minister Narendra Modi will head to Bhutan, Land of the Thunder Dragon, on his first overseas visit, slated for June 14-15. There had been a great deal of speculation that his first visit abroad would be to East Asia, particularly to Japan, a country with which he developed a strong relationship as Gujarat chief minister. But the selection of Bhutan builds perfectly on Prime Minister Modi’s inaugural outreach to the South Asian region, and demonstrates an astute sense of the region’s critical importance to India’s economic dynamism and strategic strength. Read more »

Five Questions for Professor Jagdish Bhagwati on the Indian Economy and Prime Minister Modi’s Next Steps

by Alyssa Ayres
Jagdish Bhagwati Jagdish Bhagwati, university professor at Columbia University, is also a senior fellow for international economics at the Council on Foreign Relations (photo provided by Professor Bhagwati).

This post is part of a series on the Indian elections.

Jagdish Bhagwati, university professor at Columbia University and senior fellow for international economics at the Council on Foreign Relations, has been described as the most creative international trade theorist of his generation. He has been a leader in the fight for freer trade for decades. He is well-known in India as a champion of economic liberalization—and an early advocate for the reforms undertaken in 1991. With his coauthor Arvind Panagariya, he published Why Growth Matters last year, a book which makes the case for economic growth as the path to inclusive poverty alleviation. He is proudly Gujarati, and is likely to be an external adviser to Prime Minister Narendra Modi. Read more »

A Guide to the Rana Plaza Tragedy, and its Implications, in Bangladesh

by Alyssa Ayres
Rana Plaza Tragedy Rescue workers attempt to rescue garment workers from the rubble of the collapsed Rana Plaza building in Savar, nineteen miles outside Dhaka on April 29, 2013 (Andrew Biraj/Courtesy: Reuters).

One year ago today, April 24, the world watched with horror as a concrete building known as “Rana Plaza” cracked, buckled, and ultimately collapsed atop the garment workers inside its factories. It would turn out to be the worst accident in the garment industry anywhere. More than 1,100 people were killed, and 2,500 injured. Read more »

Despite North Korean Political Risks, Sino-DPRK Trade Shows Stable Growth

by Scott A. Snyder
sinuiju-trade North Koreans sit beside bags of chemical fertilizer in Sinuiju, opposite the Chinese border city of Dandong, in March 2013. In 2013, China stepped up checks on shipments to and from North Korea almost two months after agreeing to new U.N. sanctions that demand greater scrutiny of trade, but the flow of goods in and out of the reclusive state appears largely unaffected. Picture taken March 29, 2013 (Jacky Chen/Courtesy: Reuters).

North Korea’s dependency on China for energy and food has long been cited as a source of Chinese political leverage and a primary factor that could influence North Korean stability.  But if North Korea depends on China for the bulk of its food and fuel, why does China not punish tiny North Korea for biting the hands that feed it?  On the contrary, underlying trends run in the opposite direction, possibly due in part to China’s energy demand and in part to North Korea’s growing foreign currency need. Read more »