Tuesday 25 Jun 2019 | 00:39 | SYDNEY
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The Asia Pacific's Economies

Australia's Pacific aid budget spared from serious cuts

By Jenny Hayward-Jones, Director of the Lowy Institute's Melanesia Program, and Phillipa Brant, Research Associate. The Pacific Islands region has been spared any serious impact from cuts to the Australian aid program revealed in budget documents released yesterday. Australia's bilateral program

Jokowi hoping for good news from Papua

President Jokowi lifted an effective ban on foreign journalists reporting from Papua during his visit to the province over the weekend. Aside from being a positive step for press freedom, the move has been interpreted as an effort by Jokowi to boost his own image as a human rights defender and to

What the G20 can do about infrastructure

Infrastructure is now a standard item on the G20 agenda. Serious infrastructure shortages are ubiquitous. With global economic growth slow, ample construction capacity and interest rates at historic lows, there seems to be an opportunity to address the infrastructure gap. But many governments see

The secretive TPP: Never again

One aspect of the Trans-Pacific Partnership (TPP) that has come under criticism is the lack of transparency in the negotiating process. Could a more transparent model be used for these kinds of negotiations? In other areas of official decision-making, recent decades have seen a big shift towards

North Korea's new diplomacy

Russian state-run news agency Tass confirmed on 22 April that Kim Jong-un will be in Moscow for the 9 May Victory Day celebrations. The North Korean leader will be among 26 other heads of state who have so far confirmed their attendance. North Korean Foreign Minister Ri Su Yong (Flickr/UN Geneva)

China's economic march into Pakistan

The China-Pakistan Economic Corridor (CPEC) is nothing short of a 'fate changer', said Pakistani Federal Minister Ahsan Iqbal, the man behind the historic project. The excitement appears to be mutual, as China has shown equal enthusiasm for the project throughout a two-day visit by Chinese President

What to do about weak world growth

Forecasts prepared for the IMF's 'Spring Meeting' in Washington last week predict global growth of around 3.5% this year, about the same as in the last few years. This is not the 'slowing' discussed so often in earlier Fund documents, but nor is it the normal robust recovery that might be expected

Countering ISIS online

When you look at the global response to the threat of ISIS, a glaring gap is the cyber domain. The internet has been critical to the terrorist group's success. It allows it to communicate unfiltered to the rest of the world, for onward mass dissemination by the media. It helps the group radicalise

Is capital globally mobile?

The Australian Treasury has been busy. On top of its usual output, the last 18 months have included the Financial System Inquiry, hosting the G20, the 2015 Intergenerational Report and the tax white paper. All this while eliminating one-third of its workforce! But today I'd like to focus on the

Why Australia needs Austrade

Bruno Mascitelli is editor of the newly released The Austrade Story: Export and Investment Facilitation Under the Microscope. The Australian Trade Commission, or Austrade as it is commonly known, turns 30 in 2016. It came into existence in 1986 as a statutory government agency for export promotion

The TPP and intellectual property rights

Earlier posts have discussed how the Trans-Pacific Partnership (TPP) – if it comes into force – will be part of the process of setting global rules across a wide range of issues, including intellectual property rights. The just-released Harper Competition Policy Review notes the importance

China's reserve-currency ambition

In mid-2009, with American finance reeling from the Lehman Brothers collapse, the nation's Treasury Secretary addressed his prestigious alma mater Peking University. 'How safe are China's investments in US Government debt?', challenged one student. 'Very safe', the Secretary answered to derisive

One belt, one road? China's community of common destiny

More details emerged over the weekend about two Chinese big-ticket initiatives, 'One Belt, One Road' and Asian Infrastructure Investment Bank (AIIB). Speaking at the Boao Forum for Asia, President Xi Jinping outlined his vision for the region in a keynote address titled 'Towards a Community of

Do we need 'full-spectrum defence'?

The first thing to say about Alan Dupont's recent paper is that he is absolutely correct about the dire condition of Australian strategic policy. As he suggests, we lack a coherent answer to the most basic question of all: 'What do we want our armed forces to be able to do?' Until that question

China and the AIIB: Towards a new rules-based order?

Australia's likely decision to become a founding member of the Asian Infrastructure Investment Bank (AIIB) marks the loosening of America's 70 year command over global governance. US Secretary of State John Kerry and World Bank President Jim Yong Kim at the African Growth and Opportunity Act

Park Geun-Hye's presidency is adrift

Park Geun-Hye has been president of South Korea for just over two years, with almost three still go, and the emerging consensus here (I'm writing from South Korea) is that her presidency is already adrift. It is not a catastrophe – she is not the George W. Bush of Korea – but it is 

Giganto-capitalism: China takes another wrong turn

15 years ago, Beijing made an important strategic decision about its sprawling aviation manufacturing monopoly, AVIC. Dissatisfied with AVIC's slothfulness, and keen to promote competition, the state's planners split the company in half, creating two firms. Unimaginatively named AVIC-1 and AVIC-2

India's budget: Will subsidies fall as predicted?

The new Indian Government brought down its first full-year budget last weekend. It has been keenly anticipated. Business Standard claimed: 'The market is expecting the Union Budget to be path-breaking, similar to the one in 1991, which led to the liberalisation of the Indian economy.'  As it

Timor-Leste: New prime minister, new approach

It has finally happened. After months of 'will he, won't he' melodrama, Xanana Gusmão, Timor-Leste's resistance leader and long-serving prime minister, has stepped down. His successor, Dr Rui Maria de Araújo, will be sworn in as prime minister in a ceremony in Dili later today. The new PM will

Is China slowing down? Not much

The Wall Street Journal: China's economic growth slowed to 7.4% in 2014, downshifting to a level not seen in a quarter century and firmly marking the end of a high-growth heyday that buoyed global demand for everything from iron ore to designer handbags. The slipping momentum in China, which

A Chinese canal in Nicaragua?

There is pride in Hong Kong that a local private company is pushing ahead with perhaps the world's largest-ever civil works project, the 280km long, 500m wide Nicaragua Canal. Construction began in December 2014. The South China Morning Post dismisses outside suspicions while modestly describing

Is China fragile?

The Black Swan, by Nassim Nicholas Taleb, is a parable for unanticipated risk: the possibility of 'unknown unknown' events that no-one sees coming. In a new essay, The Calm Before the Storm, Taleb further posits that perceptions of risk are distorted by 'fragile stability.' Some countries (eg.

India's new Asia-Pacific strategy: 'Act East'

It has been a busy year for India in the Asia Pacific. From multilateral summits to bilateral diplomacy, the Modi Government has deliberately moved to step up engagement with its East and Southeast Asian partners. At this year's India-ASEAN Summit, Prime Minister Modi announced his intention to

Why economics doesn't explain China's FTA decision

Malcolm Cook and I have been debating why China has been willing to bless Tony Abbott with an FTA when Mr Abbott has so strongly opposed Beijing's political and strategic interests and aspirations in Asia. Why has President Xi met Mr Abbott's stick with such a juicy carrot, especially when

Fiji grabs the limelight as leaders of China and India visit

Jenny Hayward-Jones is Director of the Lowy Institute's Melanesia Program and Philippa Brant is a Research Associate at the Lowy Institute. Pacific Island leaders have had the rare opportunity to meet the international leader of the moment, Narendra Modi, and the president of the world's

Congress, midterms and the TPP

US mid-terms elections will take place on 4 November, with polls suggesting the Republicans will re-take control of the Senate. President Obama's next steps on the Trans Pacific Partnership (TPP), which his Administration says is the key economic plank of the rebalance to Asia, will be heavily

2014 Australia-India Roundtable Report: Outcomes Statement and Summary Record of Proceedings

The relationship between Australia and India has reached a new maturity, based on deepening connections between their societies, economies, education sectors and policy establishments. This positions these two democracies to work together to advance their interests in a shared Indo-Pacific region.&

Asia's coal demand: You ain't seen nothing yet

Sam Roggeveen yesterday showed us how much demand for coal has risen in Asia during this century. Now consider what the future will hold. A recent joint publication from the International Energy Agency and the Economic Research Institute for ASEAN and East Asia forecasts what is in store for the

The China-Vietnam standoff: Three key factors

So, another maritime incident between China and one of its neighbours. There are reports from officials in Hanoi that Chinese and Vietnamese vessels collided on at least two separate occasions in the South China Sea on Sunday, in waters 120nm off the Vietnamese coast. The dispute began last

Inequality in Hong Kong: The divorce factor

Hong Kong is famously unequal. The measured Gini coefficient is among the world's highest. It is praised for 'economic freedom' yet also criticised for 'crony capitalism.'  It's well known in political science that, worldwide, folks care less about wealth inequality per se than lack of opportunity

Interview: Danny Russel on the status of the US rebalance

Daniel (Danny) Russel is US Assistant Secretary of State for East Asian and Pacific Affairs, which means he is the State Department's senior Asia diplomat (he succeeded Kurt Campbell in the role). Russel traveled with his boss John Kerry to Jakarta early this week and then made a quick visit to

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