The Trump administration has turned away from the multilateralism that the United States itself created, leaving the rules-based international order under severe stress. Alejandro Reyes of the Asia Global Institute argues that attempts by some G7 countries and "like-minded" allies to strengthen the global system will have limited impact if their aim is to assert liberal values rather than shape a new order by working with China, India and other players who prefer pragmatism over preaching.
China’s international agriculture investments represent more than a quest for food security. They are a bellwether of the economy and an indication of the competition and collaboration between state-owned and private enterprise, domestic and international actors, and even rival businesses. As protectionism and nationalism impinge more and more on global trade, Chinese direct investment in the food sector will become more agile and diversified, writes Thomas David DuBois, who conducted his research as a visiting fellow at the Fudan University Development Institute in Shanghai.
The rapid expansion of China-Africa economic ties led to questions about a new colonialist dependency. While concerns about debt and oversight persist, the relationship has evolved. Johannesburg-based African business expert Dianna Games argues that it is up to African countries to build the capacity to deal effectively with Beijing.
China recognizes that poor governance and lack of transparency of Belt and Road Initiative projects could undermine its strategic interests in Southeast Asia. While Beijing will continue to build economic cooperation networks in the region, China’s interests could collide with those of other major powers, leading to geopolitical storms, which ASEAN member states will have to weather, argues Xue Gong of the S Rajaratnam School of International Studies (RSIS) at Nanyang Technological University (NTU) in Singapore.
China’s Belt and Road Initiative has been heralded as both the largest cooperative infrastructure programme in global history and an attempt by Beijing to achieve world domination. In reality, the opportunities and risks are more nuanced, writes George Abonyi, Senior Research Fellow and Visiting Professor, at the Sasin School of Management of Chulalongkorn University in Thailand.
Instead of lamenting China’s increasing global influence arising from its Belt and Road Initiative, European countries, especially Germany, should develop their own infrastructure program for emerging Asia-Pacific economies, Heribert Dieter, Associate Professor at Potsdam University and Senior Fellow at the German Institute for International and Security Affairs in Berlin, proposes.
The relationships among the United States, China and Japan have emerged as the world’s most important trilateral network. China’s political system and ideology are unlikely to converge with those of the US and Japan, which means mutual distrust will remain for the long term. But with the strong and assured leadership of Prime Minister Abe, Japan could be the lynchpin the keeps US-China relations from going off the rails, writes Yoshikazu Kato, Adjunct Associate Professor at the Asia Global Institute, The University of Hong Kong.
Disruption, diversification...decoupling?: The fracturing of global supply chains is a major concern for Asian economies
The fallout from the US-China trade battle and the collateral geo-economic disruptions are threatening global economic stability. G20 members meeting in Japan this month need to address the risk of a crisis. The US and China must call off the trade dogs of war – and quickly, writes George Magnus, Research Associate at both the China Centre of Oxford University and at the School of Oriental and African Studies (SOAS) of the University of London.
The governance gap between the US and China - the former focuses on the rule of law, the latter on the rule by the Communist Party - suggests differences in their perceptions of what a rules-based international order should be. This disconnect is better understood by looking at how, at the beginning of the 20th century, lawyer-diplomats took over from military generals in negotiating international treaties, writes Zhiwu Chen, Director of the Asia Global Institute.
The rise in trade tensions between the US and China may be due to the American side’s failure to appreciate the implications of China’s not being a rule-of-law country – that administrative action, not laws on the books, get things done in China, writes Zhiwu Chen, Director of the Asia Global Institute (AGI) and Victor and William Fung Professor in Economics at the University of Hong Kong (HKU).
China’s engagement with the states of the South Pacific Ocean has accelerated in recent years. But while policymakers and academics in Australia, New Zealand and Pacific island states increasingly talk about China’s growing influence, Beijing actually operates in the region under a number of constraints and there are limits on the role it can play.
As China embraces the digital economy, subcontracting—the practice of using intermediaries to contract workers, whether through agencies or other multilayered contracting—is raising new challenges over legal protections and corporate responsibility, as well as labor unrest.
As the dust settles on the Hanoi summit, critics argue that the absence of an agreement between Trump and Kim is a sign that diplomacy between the U.S. and North Korea has failed. But even without a roadmap to denuclearization, the summit promotes important goals in these early stages: dialogue, a continued freeze on nuclear testing, and hope for a gradual lifting of economic sanctions.
Since Xi Jinping ascended to the presidency, he has spearheaded a reorientation of China’s major power diplomacy. With China’s foreign policy in the spotlight during the annual meeting of its legislature, Yoshikazu Kato of the Asia Global Institute outlines his thoughts on what this diplomacy is and how it came about.
The Asia-Pacific population has been undergoing dramatic aging, which is transforming the region’s demographic landscape beyond recognition. The region is currently ill-equipped to meet this critical challenge, particularly due to a lack of sound and efficient pension systems.
Just a few years ago, the renminbi seemed destined to become one of the world’s most significant currencies. However, its attractiveness has plunged as international investors seek currencies with legal security, ease of use and, critically, unrestricted convertibility.
The Philippines, a major maritime nation, must better protect its resources and exclusive sovereign rights. The South China Sea disputes, where China has exerted increasing dominance over one of the planet’s vital waterways, have been a sorely-needed wakeup call.