President Barack Obama will host leaders from the 10 ASEAN countries for a summit at the lush Sunnylands retreat in southern California on February 15 and 16 in a gesture aimed at deepening U.S. ties to this dynamic region.
The Korea Chair team takes a biweekly look back at events of interest in Washington, Seoul, and the region from December 3 - December 16, 2015.
U.S.-ROK High-level Disarmament and Nonproliferation Consultation
For 70 years the global economic order conceived at Bretton Woods has proved both valuable and durable. The international institutions and rules set up in the wake of World War II have enabled growth and prosperity to spread across much of the world. In 2015, the old order showed that it is
“Abenomics has failed. Its three arrows – quantitative easing, fiscal stimulus, and economic reform – have missed their mark and Japan’s economy continues to stagnate.” That is the conclusion that many reached after hearing that Japan last month entered its second recession in three years.
Financial literacy is a growing challenge as developing countries experience an increased access to financial services. Financial access, formerly a serious problem in developing countries, is rapidly being achieved as geographic, technological, and national barriers are eliminated.
On October 27, 2015, the Center for Strategic and International Studies hosted an event titled Government-Sponsored Patent Pools: Addressing “Innovation Mercantilism.” A panel of experts discussed the emergence of this new entity and its policy implications.
Earlier today the International Monetary Fund (IMF) Executive Board voted to approve the inclusion of the renminbi (RMB) in their Special Drawing Rights (SDR) basket of currencies. The decision will take effect on October 1, 2016. The RMB’s inclusion is part of the IMF’s standard review of the basket’s composition, which occurs every five years.
On the evening of the day earlier this month when South Korean high school seniors took their college entrance exam, a friend in Seoul posted a note on Facebook about the shame he was feeling. He wrote that his son, who is in his early 20s several years out of high school, took the test for a third time and, once again, the result disappointed.
The illicit trade in wildlife products has undergone a dramatic escalation in the last decade, developing into a multibillion dollar global criminal enterprise that is increasingly militarized, sophisticated, and deadly. In Africa, poaching and trafficking in ivory and rhino horn have had a devastating impact on conservation efforts.
Few things are as important for America’s future as an effective international economic policy. The United States urgently needs a comprehensive economic strategy toward the Asia-Pacific, a region that will do more to determine U.S. interests over coming decades than any other.