International economic governance and China’s rise: How should the United States and Japan respond?
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International economic governance and China's rise: How should the United States and Japan respond?
In recent years, China has emerged as the second largest economy and a trading powerhouse. Its recent attempts to exert greater leadership in international economic governance through the establishment of the Asian Infrastructure Investment Bank, participation in the BRICs bank, the launch of the “One Belt, One Road” development strategy, and its leading role in a budding trade grouping in East Asia, the Regional Comprehensive Economic Partnership, have gathered a lot of attention. What does this flurry of activity tell us about China’s aims and intentions? Is China a revisionist power intent on building an alternative economic order, or is it behaving as a responsible stakeholder, willing to shoulder the burden of providing public goods commensurate to its growing economic stature? What are the implications of China’s new role and initiatives for other leading economies?
On September 30, the Center for East Asia Policy Studies at Brookings and NHK co-hosted a panel of distinguished experts for a discussion on the future of China’s economy, its growing role in international economic governance, and how the United States and Japan should respond to China’s leadership bid.
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International economic governance and China's rise: How should the United States and Japan respond?
On September 30, the Center for East Asia Policy Studies at Brookings and NHK co-hosted a panel of distinguished experts for a discussion on the future of China’s economy, its growing role in international economic governance, and how the United States and Japan should respond to China’s leadership bid.
Masahiro Kawai
Representative Director and Director-General - Economic Research Institute for Northeast Asia
Professor, Graduate School of Public Policy - University of Tokyo
Mireya Solís
Co-Director - Center for East Asia Policy Studies
Senior Fellow - Foreign Policy, Center for East Asia Policy Studies
Philip Knight Chair in Japan Studies
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I think probably that the lesson that [Kim Jong Un is] learning is that he doesn’t have to give up anything and yet people will be scrambling for summits with him. ... The longer we have these drawn-out talks, these summits, bilaterals, trilaterals, quadrilaterals, the more it buys time for them to reinforce their claimed status [as a nuclear power] but also to continue with their R&D. But I do think that there is an element of trying to mitigate the sanctions, and also Kim took all those discussions about military strikes seriously enough to try and take the wind out of the sails. ... I find it difficult to envision how or why he would give up his nuclear weapons, which have pretty much given him what he’s wanted: which is the strategic relevance, the international prestige, and deterrence.