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Global Economic Governance in the Wake of the Asian Infrastructure Investment Bank: Is China Remaking Bretton Woods?
Journal of World Investment & Trade 19 (2018) 542–569 Global Economic Governance in the Wake of the Asian Infrastructure Investment Bank: Is China Remaking Bretton Woods? Chien-Huei Wu Institute of European and American Studies, Academia Sinica, Taipei, Taiwan [email protected] Abstract This article examines China’s participation in the trade, monetary and development assistance fields and concludes that China’s rise does not undermine the centrality of the Bretton Woods institutions or Word Trade Organization (WTO) in global econom- ic governance. Whereas China’s participation in the WTO presents some challenges to the long dominance of the United States and the European Union, it reaffirms the central role of the WTO. China’s monetary strategy also indicates the continuing im- portance of the International Monetary Fund (IMF) in the international monetary regime. Whereas the Asian Infrastructure Investment Bank (AIIB) introduces some competition to the World Bank and the Asian Development Bank (ADB), China’s ef- forts in establishing new multilateral development banks are mainly driven by its frus- tration with stalled reforms of the Bretton Woods institutions. By and large, China’s economic emergence does not challenge, but reaffirms, the post-World War II global economic architecture. Keywords Bretton Woods – World Trade Organization (WTO) – global economic governance – Asia Infrastructure Investment Bank (AIIB) – Transatlantic Trade and Investment Partnership (TTIP) – BRICS – International Monetary Fund (IMF) – Reminbi – special drawing rights * Associate Research Professor, IEAS, Academia Sinica, PhD in Laws (European University Institute). © koninklijke brill nv, leiden, 2018 | doi:10.1163/22119000-12340098 Global Economic Governance in the Wake of the AIIB 543 1 Introduction The post-World War II economic architecture underpinned by the Bretton Woods system was a political and intellectual product of the transatlantic al- liance. -
Models of Legal Evolution
From Rule Takers, Shakers to Makers: How Japan, China and Korea Shaped New Norms in International Economic Law Saadia M. Pekkanen University of Washington [email protected] Henry Gao Singapore Management University [email protected] Dukgeun Ahn Seoul National University [email protected] Paper prepared for presentation at the Second Biennial General Conference of the Asian Society of International Law (Asian-SIL), 1-2 August 2009, Tokyo, Japan. Updated: 21 July 2009 1 From Rule Takers, Shakers to Makers: How Japan, China and Korea Shaped New Norms in International Economic Law Saadia M. Pekkanen, Henry Gao, and Dukgeun Ahn While the rise of Asia in the international economy has been widely noted, much less appreciated is the way in which that rise has interacted with the forces of international economic law (IEL). Perhaps the most dominant perception among both legal scholars and social scientists is still that formal law does not play much of a role in the East Asian region – that its institutions are weak, that it has a preference for non-legalistic methods and non-binding commitments which also extend to dispute settlement mechanisms, and that in contrast to highly legal systems as, for example in Europe, far more weight should be given to the competition of national economies and ethnic groups in growing markets than legal dimensions in the case of Asia even today.1 This very conceptualization that goes within and across Asian countries has also been extended to their behavior at the multilateral and international levels. Yet even those holding to the contrast between high levels of legalization in Europe and North America and low ones in the case of Asia in the early 2000s had also begun to note the increasing role of formal law in Asia .2 This shift towards legalism has been most prominent at the global multilateral level as a number of works have stressed the importance of law and legal processes by and for Asian countries in contexts such as the World Trade Organization (WTO) as well as through burgeoning Free Trade 1 See, for example, Peter J. -
Food and Agricultural Import Regulations and Standards Country Report
Required Report: Required - Public Distribution Date: December 22,2020 Report Number: TW2020-0058 Report Name: Food and Agricultural Import Regulations and Standards Country Report Country: Taiwan Post: Taipei Report Category: FAIRS Annual Country Report Prepared By: AIT Taipei APHIS, ATO, and OAA Approved By: Mark Petry Report Highlights: In 2019, Taiwan was the eight largest export market for U.S. food and agricultural products, valued at just over $3.6 billion. Imported food and agricultural products must comply with a range of laws designed to protect human health and prevent the introduction of animal and plant pests or diseases. This report gives an overview of Taiwan's import requirements for food and agricultural products. While this report strives to be as comprehensive as possible, regulations and requirements can frequently change. U.S. exporters are therefore encouraged to work closely with their Taiwan importers to ensure they are aware of and complying with all current Taiwan regulations and requirements. THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT POLICY Table of Contents Section I. Food Laws ................................................................................................................................. 3 Section II. Labeling Requirements .......................................................................................................... 4 Section III. Packaging and Container Regulations ............................................................................... -
Taiwan Market Overview
Taiwan Market Overview Presented by Ireas Cook 1 AMERICAN INSTITUTE IN TAIWAN “Any programs, transactions, or other relations conducted or carried out by the President or any Agency of the United States Government with respect to Taiwan shall... be conducted and carried out by or through the American Institute in Taiwan.“ Taiwan Relations Act April 10, 1979 4 U.S. ‐TAIWAN UNOFFICIAL RELATIONS The work of AIT is wide‐ranging, but three pillars form the core of our mission Security Commercial People‐to‐ & & People Ties Defense Economic 5 Economic COMMERCIAL Commercial Investment Export Promotion Facilitating Business Diplomacy Promotion and Commercial • Total U.S. exports • Technical seminars • Assist companies in to Taiwan (2016) ‐ to enhance •Taiwan foreign meeting distributors $26 billion communication direct investment in and agents between Taiwan, the US totaled 5,395 cases and • Top categories: U.S. Industries, and • Providing in‐depth AIT $14.45 billion • Machinery cumulative market research • Computers and investment as of electronics • 6,043 investment 2016 •Promote your • Transportation projects and $23.7 products and Equipment billion in cumulative •Mostly in ICT, services to buyers •Chemicals investment as of 2016 Transportation, Finance, Chemical, and Food Industry. 6 Sources: Taiwan Investment Commission, MOEA and U.S. TaiwanConnect Taiwan Quick Facts • Population: 23.3 million • Language: Mandarin Chinese • Location: 100 miles off southeastern coast of mainland China • Major Industries: electronics, electrical machinery, chemicals, and petrochemicals 5 6 Taipei • Taiwan’s capital • Political, economic, and cultural center of Taiwan • Population: 2.7 million • 3.9 million people in New Taipei City Photo courtesy of Taiwan Tourism Bureau 7 Kaohsiung • Taiwan’s 2nd largest city • Population: 2.8 million • Taiwan’s largest port • Manufacturing and heavy industry base (petrochemical and steel) Photo courtesy of Gary Oba • Marine and fastener industries 8 Why Taiwan? • Positive view of U.S. -
Download/Publications/2016-Us-Presidential-Election- Implications-On-Trade-Policy-Updated.Pdf
HOW MAY CHINA RESPOND TO THE U.S. TRADE APPROACH? RETALIATORY, INCLUSIVE AND REGULATORY RESPONSES Heng Wang This paper endeavours to conceptualize and provide an analytical framework for China’s response to U.S. trade policy. It analyses the following questions: what is the new U.S. trade approach? How might China respond to the United States’ trade approach? What are the trend and implications of China’s response to the U.S. trade approach? It argues, first, that the U.S. trade approach has not changed regarding most of the U.S.-style regulatory disciplines. However, it has changed in terms of the shift toward managed trade, unilateralism and trade enforcement. Second, China will likely adopt a three-track approach: consisting of retaliatory, inclusive and regulatory responses. Third, these responses exist on a political-legal spectrum that spans from a more political retaliatory response through to an inclusive one, or a more legalized approach (regulatory response). The inclusive response is likely to be given primacy by China over the other two responses, and China’s responses carry profound implications. Associate Professor and Co-director of CIBEL (China International Business and Economic Law) Initiative, Faculty of Law, the University of New South Wales; University Visiting Professorial Fellow, Southwest University of Political Science and Law. The author is thankful to David A. Gantz, Markus Wagner, Tomer Broude, Wenhua Shan, Qingjiang Kong, Mark Feldman, Gabrielle Appleby, Daniel Joyce, Pasha L. Hsieh, Ming Du, Benedict Kingsbury, Ka Zeng, Paul Mertenskötter, and the participants at my talks or conference presentations at the New York University, Columbia University, the University of Melbourne, the Chinese University of Hong Kong, the American Society of International Law and the Asian WTO Research Network for very insightful comments. -
FINAL Capstone (Daisuke Shamoto)
J APAN AND I NTERNATIONAL T RADE L AW INSTITUT IONAL REFORM PROPOSAL FOR FURTHER LEGALISM Master of Arts in Law and Diplomacy Capstone Project Submitted to Professor Joel P. Trachtman Daisuke Shamoto In full fulfillment of the MALD Capstone requirement April 21, 2018 © 2018 Daisuke Shamoto http://fletcher.tufts.edu 1 Table of Contents 1. Introduction …………………………………………………………………………………….1 2. Evolution of Japan’s legalism in international trade …………………………………………...4 2-1. Why states seek and comply with international law ……………………………………....4 2-2. WTO as a bulwark against U.S. unilateralism …………………………………………….5 2-3. China’s compliance with WTO law ……………………………………………………….7 3. Japan’s less litigious tendency and its governmental institution ………………………...…...10 3-1. Less litigious tendency of Japan …………………………………………………………10 3-2. Features of Japanese governmental institution …………………………………………..12 4. Institutional reform recommendations ………………………………………………………..16 5. Conclusion ……………………………………………………………………………………20 1 1. Introduction Peace and prosperity in Asia, forevermore Japan for the rule of law Asia for the rule of law And the rule of law for all of us The speech given by Japanese Prime Minister Shinzo Abe on May 30th, 2014 at the 13th IISS Asian Security Summit clearly declared the current Japanese attitude toward international law. Prime Minster Abe has proposed three principles for peace and prosperity in Asia: the first principle is that states shall make a claim based on international law; the second is that states shall not use force or coercion to achieve their claims; and the third is that states shall seek to settle disputes with peaceful means.1 These principles are for security concerns in the South China Sea; however, they can also apply to the field of international trade. -
Taiwan and Los Angeles County
Taiwan and Los Angeles County Taipei World Trade Center Taiwan and Los Angeles County Prepared by: Ferdinando Guerra, International Economist Principal Researcher and Author Robert A. Kleinhenz, Ph.D., Chief Economist Kimberly Ritter-Martinez, Economist George Entis, Research Analyst February 2015 Los Angeles County Economic Development Corporation Kyser Center for Economic Research 444 S. Flower St., 37th Floor Los Angeles, CA 90071 Tel: (213) 622-4300 or (888) 4-LAEDC-1 Fax: (213)-622-7100 E-mail: [email protected] Web: http://www.laedc.org The LAEDC, the region’s premier business leadership organization, is a private, non-profit 501(c)3 organization established in 1981. GROWING TOGETHER • Taiwan and Los Angeles County As Southern California’s premier economic development organization, the mission of the LAEDC is to attract, retain, and grow businesses and jobs for the regions of Los Angeles County. Since 1996, the LAEDC has helped retain or attract more than 198,000 jobs, providing over $12 billion in direct economic impact from salaries and over $850 million in property and sales tax revenues to the County of Los Angeles. LAEDC is a private, non-profit 501(c)3 organization established in 1981. Regional Leadership The members of the LAEDC are civic leaders and ranking executives of the region’s leading public and private organizations. Through financial support and direct participation in the mission, programs, and public policy initiatives of the LAEDC, the members are committed to playing a decisive role in shaping the region’s economic future. Business Services The LAEDC’s Business Development and Assistance Program provides essential services to L.A. -
Japan's Soft Power
STV103 Tutor: Martin Hall Department of Political Science Japan’s Soft power An unsustainable policy? Johan Ahlner 1 Abstract This thesis deals with Japans role in the international system. An argument is presented in this thesis, namely that Japan is free riding on other countries when it comes to its national security, The Japanese miracle is also dependent on a liberal world order upon which it contributes nothing to maintain. However Japan definitely has some influence in the international system through its soft power resources. Japan thus exercises its soft power in order to get away with its free riding. The most frequently used soft power is its financial resources aimed at various aid programs and the financing of international organizations Japan is for instance the second largest contributor to the UN. However changes have occurred in the last couple of years and this thesis suggests that the present free riding will inevitably back clash. Keywords: Japan, Soft Power, Free ride, Liberalization, De-regulation 2 1. Introduction………………………………………………………………………….….4 2.Methodological discussion……………………………………………….……………. 6 2.2 Material discussion……………………………………………….…………...6 3.Theoretical discussion………………………………………………………….……….7 3.2The free rider issue…………………………………………………….………7 3.3 Soft Power…………………………………………………………….………8 4.Analysis………………………………………………………………………………...10 4.2 the free riding regarding national defense……………………………………10 4.3 Japan in the international trading system…………………………………….13 4.3.2 The WTO agenda…………………………………………………………..15 4.3.3At the domestic level………………………………………………………..17 4.4 Japan as a soft power………………………………………………………...19 5 Concluding discussion…………………………………………………………………24 6 References……………………………………………………………………………...28 3 1.Introduction It is hard to imagine that Japan only fifty years ago was a pariah in the world economy. -
Doing Business in Taiwan: 2016 Commercial Guide for U.S. Companies
Doing Business in Taiwan: 2016 Commercial Guide for U.S. Companies INTERNATIONAL COPYRIGHT, U.S. & FOREIGN COMMERCIAL SERVICE AND U.S. DEPARTMENT OF STATE, 2016. ALL RIGHTS RESERVED OUTSIDE OF THE UNITED STATES. Chapter 1: Doing Business In Taiwan Chapter 2: Political and Economic Environment Chapter 3: Selling U.S. Products and Services Chapter 4: Trade Regulations, Customs and Standards Chapter 5: Investment Climate Chapter 6: Trade and Project Financing Chapter 7: Business Travel Statement Chapter 8: Leading Sectors for U.S. Export and Investment 7/6/2016 Return to table of contents Chapter 1: Doing Business in Taiwan Market Overview Market Challenges Market Opportunities Market Entry Strategy Market Overview Return to top With a population of 23 million, Taiwan is a thriving democracy, vibrant market economy, and a highly attractive export market, especially for U.S. firms. In 2015, Taiwan was ranked as the United States’ 9th-largest trading partner in goods, placing it ahead of markets such as India and Brazil. It was also the 14th-largest U.S. export market overall and the seventh-largest export market for agricultural and livestock products. In 2015, Taiwan was the seventh largest source of foreign students pursuing higher education in the United States. In 2015, according to the U.S. Census, exports to Taiwan decreased 2.8 % to US$ 26 billion. Imports from Taiwan rose 0.3% to US$ 40.7 billion. Taiwan ran a trade surplus with the United States of US$ 14.8 billion dollars in 2015, an increase of US$ 868 million over the year before. Mainland China (including Hong Kong) is Taiwan’s largest trading partner, accounting for 22.7% of total trade and 19.3% of Taiwan’s imports in 2015. -
Connect Taiwan, China
CONNECT Taiwan A smart guide to shipping This is your quick guide to help you connect with customers and businesses across Taiwan. It’s here to help you understand the local culture, shipping requirements, regulations and key commercial opportunities to expand your business. united problem solversTM Contents CONNECT Taiwan Visit UPS.com Taiwan Overview 03 > Find out the most important facts about the markets to help you assess the potential for your business. Economic Potential 04 > Learn about what sells where and the most popular exports and imports that may be relevant to your sector. Business Culture 08 > Pointers on how to build successful relationships with local businesses and consumers. Tips and Advice 09 > Useful information and directory to help you ship to and from Taiwan. Connecting with UPS 11 > A quick overview of UPS capabilities and experience and how we can help connect your business with customers across Taiwan. 02 Contents Taiwan Overview Economic Potential Business Culture Tips and Advice Connecting with UPS Taiwan Overview CONNECT Taiwan Visit UPS.com Open your new trade Taiwan has a dynamic capitalist economy, largely driven by industrial manufacturing and exports of electronics, machinery and petrochemicals. It is one of the world's top producers of computer technology. It is also one of the Asia's biggest traders and its route to Taiwan. major trading partners include China, Hong Kong, the U.S., Japan and the countries in the European Union. National facts and figures Taiwan Capital Taipei Population 23,464,787 -
Taiwan Commercial Guide 2017
Taiwan Table of Contents Table of Contents _____________________________________________________________________________ 2 Doing Business in Taiwan ____________________________________________________________________ 7 Market Overview ____________________________________________________________________________________ 7 Market Challenges __________________________________________________________________________________ 7 Market Opportunities _______________________________________________________________________________ 8 Market Entry Strategy ______________________________________________________________________________ 9 Political Environment _______________________________________________________________________ 10 Political Environment _____________________________________________________________________________ 10 Selling US Products & Services _____________________________________________________________ 11 Using an Agent to Sell US Products and Services _________________________________________________ 11 Establishing an Office _____________________________________________________________________________ 12 Franchising ________________________________________________________________________________________ 12 Direct Marketing __________________________________________________________________________________ 12 Joint Ventures/Licensing _________________________________________________________________________ 13 Selling to the Government ________________________________________________________________________ 13 Distribution & Sales -
7. Beyond Aggressive Legalism: Japan and the GATT/WTO Dispute
7. Beyond Aggressive Legalism: Japan and the GATT/WTO Dispute Ichiro Araki I. Introduction In a 2001 article in The World Economy, Saadia Pekkanen characterized Japan’s recent trade strategy as “aggressive legalism.”1 Clearly, this is an adaptation of the famous term “aggressive unilateralism” coined by Professor Bhagwati to describe the US trade policy of the 1980s.2 According to Professor Pekkanen, aggressive legalism can be defined as “active use of the legal rules in the treaties and agreements overseen by the WTO to stake out positions, to advance and rebut claims, and to embroil all concerned in an intricate legal game.”3 While the author basically agrees with her analysis, some additional comments can be made about Japan’s trade strategy, largely drawing upon the author’s own experience at the Japanese Ministry of Economy, Trade and Industry (METI) – previously known as MITI (for the Ministry of International Trade and Industry). This chapter consists of six sections. Section II briefly reviews Japan’s experience with the GATT/WTO dispute settlement mechanism. Section III analyzes Japan’s offensive use of the mechanism (“sword” aspects according to Professor Pekkanen), taking Parts and Components case and Section 301 (Automobiles) case as examples. Section IV analyzes Japan’s defensive use of the mechanism (“shield” aspects according to Professor Pekkanen), taking the Leather case and the Film case as examples. Section V tries to forecast the future of Japan’s aggressive legalism against the backdrop of the ongoing reform in legal education. Section VI concludes. II. Japan’s Experience with the GATT/WTO Dispute Settlement Mechanism.