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This book examines the need for greater East Asian cooperation and the challenges to this grand endeavor. With differing national outlooks, how can East Asia preserve peace, prosperity and stability amidst geopolitical competition? To answer this question, the volume examines the political and economic relations between Beijing and its neighbors against the backdrop of two trends: the power shift from the West to the East in the aftermath of the American Financial Crisis and the ongoing eurozone crisis, as well as the rise of China.
China's strategy towards East Asian regional cooperation since the Asian Financial Crisis of 1997-98Since the Asian Financial Crisis of '97-98 China has taken a leading role in East Asian economic cooperation initiatives, centred around the powerful ASEAN Plus Three mechanism (The Association of Southeast Asian Nations, plus South Korea, Japan and China). This brand new book from the International Poverty Reduction Centre of China's Qianqian Liu outlines exactly how and why China has pursued economic and diplomatic cooperation throughout the post-crisis years. Methodical and richly detailed, it offers a unique empirical analysis of China's actions and involvements with ASEAN Plus Three and the East Asian Summit.Author Qianqian Liu's integrated theoretical approach captures and pieces together the intricacies of Chinese interactions with its East Asian partners - enabling the reader to better understand the dynamics of China's regional behaviour and foreign policy. Together with research-based insight and data covering all aspects of this critical subject, the author proposes two key assertions. Firstly that China-US relations have played a significant part in China's increasingly cooperative approach to China-East Asia relations. And secondly, that China has maximised mechanisms of regional economic cooperation as a means of enhancing its influence in East Asia.Key features and benefits:- Unveils China's perspectives on regional cooperation by extensively exploring Chinese source material and materials - information only now available thanks to increased openness and liberalisation- Offers a key contribution to wider theoretical debates on China's rise and regional intensions- Examines the vital interconnections between the key contemporary International Relations theories - realism, liberalism and constructivism - rather than examining them as separate elements to help fully explain China's strategies and goals- Analytical coverage of China's involvement with both ASEAN Plus Three and the East Asia Summit- Offers comparisons between European regionalism and East Asian regionalism- Reveals Chinese perspectives on how China-US relations have helped shape China's approach to East Asia economic cooperationRegional Cooperation and China's Strategy Towards East Asia is published as part of a brand new series from Paths International, China and International Organisations Series. Published in association with China's Social Sciences Academic Press. Contents: 1, Introduction2, The Historical Development of East Asia and the Rise of China before 19973, The Asian Financial Crisis, China's Accession to the WTO and China's Participation in Regional Cooperation from 1997 to 19994, China's Regional Strategy from the end of 1999 to the end of 20055, China's Participation in Regional Cooperation in East Asia from the end of 2005 to mid-2009 6, Conclusions
China and East Asia’s Post-Crises Community: A Region in Flux, by Wei Liang and Faizullah Khilji, explores how an East Asian community is taking shape as a result of China’s emergence as a global economic power and the shocks of the financial crises emanating from the globalized financial system. Today’s East Asia shows a sharp break from the East Asia of the Cold War era, in both basis and orientation. Important elements in this shift include the regional economic integration propelled by China’s emergence as a processed manufacturing center in the world economy, the common problems posed by the working of the dollar-based international financial system, and the desire to develop institutions that help to formalize the economic integration and financial cooperation that is taking place, and may thus help protect and safeguard economic prosperity in the region. Liang and Khilji show how the approach to regional economic cooperation and developing institutions comes from the bottom up, lacking any leader nation, grand vision, or ideology. The manner in which the region comes to work together also has implications for the governance of the world economy, in particular the economic model that underlies policy formulation, the working of the international financial system, and the approach to the multilateral trading system.From a security oriented US-centric regional structure characterized as the hub and spokes system set up after the Second World War, this region is now more nearly an informal economic community, which increasingly appears to be China-centric. China and East Asia’s Post Crises Community presents one of the first attempts to weave together different strands of the current discussion to develop a framework for understanding a rapidly evolving East Asia region.
One of Chinese president Xi Jinping's signature foreign policy programs is the Belt and Road Initiative (BRI), a web of infrastructure development plans designed to increase Eurasian economic integration. Chinese official rhetoric on the BRI focuses on its economic promise and progress, often in altruistic terms: all countries have been invited to board this "express train" to wealth and prosperity. Missing from the rhetoric is much discussion of the initiative's security dimensions and implications. Chinese officials avoid describing the strategic benefits they think the BRI could produce, while also gliding over major security risks and concerns. Yet at the unofficial level, China's security community has paid close attention to these issues, probing in great depth the gains Beijing can expect, the challenges it will face, and the new demands it will have to satisfy. Understanding those Chinese assessments is helpful as the United States considers how, when, and in what capacity to engage the BRI.
Since the 1997 Asian financial crisis, East Asia has implemented a number of initiatives designed to strengthen monetary and financial cooperation, bolstering the region's resilience to economic and financial vulnerabilities. One such initiative is the ASEAN+3 Information Exchange and Policy Dialogue, which includes development of early warning systems (EWS) for financial crises. This book examines efforts to develop EWS models. Specifically, the book analyzes the current understanding of the causes of currency and banking crises, describes recent progress in developing and applying EWS models for currency and banking crises, reviews methodolgical issues, assesses the predictive power of EWS models and also highlights areas where further research is required to make these models more effective tools for policy analysis. The case studies apply both parametric and nonparametric approaches to EWS modleing using data from six East Asian countries.
Asia stands out as the world’s most vibrant region, where rivalries and confrontation coincide with increased economic cooperation and community building. How should we interpret these two dynamics, and what are the implications for U.S. policy? With the support of the MacArthur Foundation, Asahi Shimbun, Joongang Ilbo, and China Times, the Center for Strategic and International Studies (CSIS) collaborated with Opinion Dynamics Corporation on a survey of strategic elites in eleven Asia Pacific economies. This report presents key findings on the strategic landscape in Asia with respect to questions of power, norms, and regional institutions.
China, Japan and Regional Leadership in East Asia is a compilation which provides a necessary and welcome update to the Asian regionalism debates of the last decade, bringing together notable experts in Asian area studies and comparative foreign policy to provide many new insights. . . essential reading both for practitioners of Asian studies and those concerned with the role of comparative regionalism in modern international relations. Marc Lanteigne, East Asia An International Quarterly . . . this book is strongly recommended reading for everyone interested in Japan China relations, leadership, and East Asia. It proves that looking at complex issues from a variety of angles does bring a much deeper understanding. I thoroughly enjoyed it! Marie Söderberg, Journal of Japanese Studies This book addresses one of the most intriguing but also under-researched issues of the future of the Asian strategic landscape: who will lead the region and replace US leadership, Japan and China, and what kind of leadership do we have to expect? The authors come to the conclusion that it is a matrix or combination of leadership options rather than a single leadership type, depending on issue domains, governance structure and geospatial scales. . . The conclusions by Christopher Dent admirably draw the theoretical and empirical issues together. Reinhard Drifte, Pacific Affairs This book considers themes, evidence and ideas relating to the prospects for regional leadership in East Asia, with particular reference to China and Japan assuming regional leader actor roles. Key issues discussed by the list of distinguished contributors include: the extent to which there is an East Asian region to lead China Japan relations different aspects of Japan and China s positions in the East Asia region how the seemingly inexorable rise of China is being addressed within the region how China and Japan have explored paths of regional leadership through certain regional and multilateral organisations and frameworks the position of certain intermediary powers (i.e. the United States and Korea) with regards to regional leadership diplomacy in East Asia. Invaluably, the concluding chapter brings together the main findings of the book and presents new analytical approaches for studying the nature of, and prospects for leadership in East Asia. China, Japan and Regional Leadership in East Asia will be essential reading for upper level undergraduate and postgraduate students and researchers of international relations, regional studies, international political economy and economics as well as Asian and development studies.
East Asian countries were notably uninterested in regional monetary integration until the late 1990's, when the Asian financial crisis revealed the fragility of the region's exchange rate arrangements and highlighted the need for a stronger regional financial architecture. Since then, the countries of East Asia have begun taking steps to explore monetary and financial cooperation, establishing such initiatives as regular consultations among finance ministers and central bank governors and the pooling of foreign exchange reserves. In this book Ulrich Volz investigates the prospects for monetary cooperation and integration in East Asia, using state-of-the-art theoretical and empirical tools to analyze the most promising policy options. --
To explore what extended competition between the United States and China might entail out to 2050, the authors of this report identified and characterized China’s grand strategy, analyzed its component national strategies (diplomacy, economics, science and technology, and military affairs), and assessed how successful China might be at implementing these over the next three decades.
This book focuses on the market issues facing Asian industrialization and the possibility, feasibility, and sustainability of China integrating the Asian economics. How China's rise affects Asian market and the economic relation between China and other Asian economies? The book looks into this issue from market and regional perspectives and concludes that: Asian industrialization including China makes the unified regional market as the common goal of Asian economies; the integration of Asian markets is also a key strategy for China in the next 5-10 years; China may become a major player or even a leader in integrating regional markets; however, it will be a longtime process depending on China's economic strength in the future.