Carnegie Endowment for International Peace
Although regional institutions have proliferated in East Asia in recent years, their ability to provide a cohesive governance structure for the region is limited by mutual mistrust among their member states.
The recent Fukushima Daiichi crisis has prompted the State Council of China to temporarily halt approval of new nuclear plants pending a comprehensive safety review. The outcome will have major implications for China’s nuclear industry and for its entire energy future.
Japan's national tragedy of the earthquake, tsunami, and nuclear crisis could provide an opportunity for a new kind of Japanese politics, with the leadership the country needs to endure the sacrifices necessary to ensuring its economic health and survival.
The economic costs of the Japanese earthquake will be major, but are unlikely to derail the Japanese or global recovery. However, a number of risks—beginning with unresolved nuclear crisis—could worsen the outcome considerably.
With China leading the way, most Asian economies are experiencing rapid growth and rising income levels. However, there is a risk of an overheating economy with such a rapid trajectory—as seen in rising inflation rates in many countries.
In its efforts to rebalance the Chinese economy away from overinvestment and toward increased household consumption, Beijing can draw lessons from Japan’s experience with a similar transition.
President Obama's trip to Asia will be an opportunity to strengthen bilateral relationships, address challenging global issues, and demonstrate U.S. commitment to the region.
President Obama's upcoming trip to four Asian democracies will signal U.S. commitment to the region at a time when China's growing assertiveness has its neighbors worried.
China’s recent actions demonstrate a growing global assertiveness at odds with the more benign rhetoric of Beijing’s leadership and are a cause of growing concern among the international community.
Chinese policymakers looking to learn from Japan's policy missteps should recognize that Japan's lost decade grew out of its failure to implement early and gradual economic adjustment policies, not its decision to reevaluate the yen.