Taiwan, China, and Asian Regional Development

Transcription

1 Taiwan, China, and Asian Regional Development Professor & Dr. Yih-chyi Chuang Department of Economics National Chengchi University Taipei, TAIWAN, ROC Fall, 2018 Course Description: The goal of this course is to examine the various fundamental issues of Asian regional development so that students will gain enough knowledge to understand the development characteristics as well as economic dynamics of the region. The course will focus on the study of growth triangles in Asia, patterns of trade and investment, the process of integration, the role China in Asian regional development, financial system and monetary integration, future development and the consequences for the global economy. Course Contents: I. Asian Economic Integration An overview Comparative advantage and division of labor in Asia Growth Triangles: market-driven integration Economic dynamics in Asia: Flying geese pattern of development FDI and trade in Asia (intra-industry, inter-industry, and intraregional trade) The effect of globalization and ICT revolution The regional production networks: the IT industry II. Institutional Arrangement of Economic Cooperation in Asia Globalization and regionalism (closed vs. open regionalism) ASEAN FTA China and ASEAN: competition or cooperation? Prospects for Economic Integration in Asia: ASEAN+1, +3, +6, RCEP or CPTPP? Will Taiwan be marginalized? Cross-strait economic cooperation: ECFA III. The Rise of China and Cross-strait Relations Economic development of China after 30 years of Reform The economic development strategy in China The role of foreign direct investment Special Economic Zones (SEZs) and the Greater Chinese Economic Zone Challenges confronting Chinese economy 1

2 The implication of 2008 global financial crisis on China s economic development The cross-strait economic relations: trade and investment The role of Taiwan in Asian regional development ECFA and its implications to Asian Economic integration The effect of One Belt and One Road Initiative VI. Financial system and monetary integration The role of financial sector Asian financial crisis Asian common currency Course Requirements and Grading: No prerequisite is required for the course. There will be an in-lecture current issue presentation and discussion, mid-term presentation of project proposal (literature review) and a final term paper. Semester grade is determined by in-lecture presentation (30%), the proposal presentation (20%) and final term paper (50%). Extra bonus will be given for creative class discussion and regular class attendance is expected and will be taken into account in the final grading. The deadline for the term paper is on the 24th of January, 2019 and all the term papers should be submitted by (to: ycchuang03@gmail.com) with student number as the file name. Submission of term paper after the deadline will be subject to heavy penalty. Suggested books: 1. Thompson, Grahame F., 1998, Economic Dynamism in the Asia-Pacific, Routledge. 2. Thant, Myo, Min Tang, and Hiroshi Kakazu, 1998, Growth Triangles in Asia, 2 nd ed., Oxford University Press. 3. Rugman, Alan M., Gavin Boyd, 1999, Deepening Integration in the Pacific Economies, Edward Elgar. 4. * 木村福成 九屋豐二郎 石川幸一, 經略中國, 布局大亞洲, 經濟新潮社, Wolf, Charles Jr., K. C. Yeh, Benjamin Zycher, Nicholas Eberstadt, Sung-Ho Lee, 2003, Fault Lines in China s Economic Terrain, Department of Defense, and the Smith Richardson Foundation, RAND National Defense Research Institute. 6. The Asian Development Bank, 2005, Asian Economic Cooperation and Integration: Progress, Prospects and Challenges. 7. *Wiemer, Calla and Heping Cao, 2004, Asian Economic Cooperation in the New Millennium: China s Economic Presence, World Scientific Publishing. 8. *Lincoln, Edward J., 2004, East Asian Economic Regionalism, Washington, D.C.: Brooking Institution Press. 2

3 9. *Yuzsuf, Ahahid, 2003, Innovative East Asia: the Future of Growth, Washington, D.C., The World Bank. 10. Plummer, Michael G. and Erik Jones, 2006, International Economic Integration and Asia, New Jersey, N.J. : World Scientific. 11. Indermit Gill, Yukon Huang, and Homi Kharas, 2006, East Asian Vision: Perspectives on Economic Development, the World Bank and the Institute of Policy Studies. ( /EA_Visions_full.pdf#page=191) 12. Yusuf, Shahid, M. Anjum Altaf, and Kaoru Nabeshima, 2004, Global Production Networking and Technological Change in East Asia, The World Bank. 13. Francois J., G. Wignaraja, and P. Rana, 2009, Pan-Asian Integration: Linking East and South Asia, Asian Development Bank. 14. Asian Development Bank, 2011, Asia 2050: Realizing the Asian Century, gramme/documents/asiandevelopmentbankreport_asia-2050.pdf 15. Rosen Daniel H. and Zhi Wang, 2011, The Implications of China-Taiwan Economic Liberalization, Peterson Institute for International Economics, Washington, D.C. 16. Lam Peng Er, Qin Yaqing, and Yang Mu, 2012, China and East Asia : after the Wall Street crisis, Singapore : World Scientific Publishing Company. 17. Jing Bo-jiun, 2016, Taiwan and Southeast Asia : opportunities and constraints of continued engagement, Baltimore, Maryland : Carey School of Law, University of Maryland. Useful Website for Asian regional data: 3

4 Reading list ASIAN ECONOMIC INTEGRATION Munakata Naoko, 2002, Whither East Asian Economic Integration? CNAPS working paper, Brookings Institute. ( Ozawa, T., 2003, Pax Americana-led Catch-up, Flying-Geese Style: Regionalized Endogenous Growth in East Asia, Journal of Asian Economics, 13, , also in Wiemer and Cao, 2004, ( 816&showthumb=0) Kasahara, Shigehisa, 2004, The Flying Geese Paradigm: A Critical Study of Its Application To East Asian Regional Development, Discussion paper, UNCTAD. ( Cheow, Eric and Teo Chu, 2004, Strategic Relevance of Asian Economic Integration, paper presented at Second High-level Conference on Building a New Asia towards an Asian Economic Community, Tokyo, Nov Park, Sung-Hoon, 2002, East Asian Economic Integration- finding a balance between regionalism and multilateralism, European Institute for Asian Studies Briefing Paper. Kim, Won Bae, 2004, Inter-Local Cross-Border Cooperation as a Catalyst for Economic Cooperation in Northeast Asia, Korea Research Institute for Human Settlements. Elek, Andrew, 2003, East Asian Economic Integration: critical policy choices, PECC Trade Forum, Pacific Economic Cooperation Council, Thailand. Urata, Shujiro, 2002, A Shift from Market-led to Institution-led Regional economic Integration in East Asia, paper presented at the Conference on Asian economic Integration, United Nations University, April 22-23, Aminian, Nathalie, Fung, K.C., and Ng, Francis, Integration of Markets vs. Integration by Agreements, Policy Research working paper no. WPS 4546, World Bank, Kawai, Masahiro and Ganeshan Wignaraja, Regionalism as an Engine of Multilateralism: A Case for a Single East Asian FTA, Working paper no. 14, Asian Development Bank, ( Chia Siow Yue, Challenges and Configurations of a Region-wide FTA in East Asia, Report, Institute of Strategic and International Studies, (August 2007). ( OECD (2005). Policy Coherence towards East-Asia: Development Challenges for OECD countries, Policy Brief No.26, OECD Development Centre. ( Chiang, H. H., 2008, "The 'Flying geese development' model of the IT industry in East Asia." Journal of the Asia Pacific Economy, 13(2),

5 Athukorala, P. C., 2009, "The Rise of China and East Asian Export Performance: Is the Crowding-Out Fear Warranted?" World Economy, 32(2), Gabor, Pula and Tuomas A. Peltonen, 2009, Has Emerging AsiaDecoupled? An Analysis of Production and Trade Linkages Using the Asian International Input-Output Table, Working Paper Series No 993, European Central Bank. Qin, Yaqing, 2013, East Asian Regionalism: Architecture, Approach and Attributes, in China and East Asia: After the Wall Street Crisis, pp ASEAN+1, +? Chirathivat, S., 2002, ASEAN-China Free Trade Area: Background, Implications and Future Development, Journal of Asian Economics, 13, , also in Wiemer and Cao, 2004, Ye, Jingyi, 2004, East Asian Economic Cooperation: The 10+1 Mechanism for Moving Forward, in Wiemer and Cao, 2004, Laurenceson James, 2003, Economic Integration between China and ASEAN, Discussion Paper no. 329, School of Economics, University of Queensland. Cutler, Joanne, Kevin Chow, Carrie Chan, and Unias Li, 2004, Intra-Regional Trade and the Role of mainland China, Economic Research Division, Hong Kong Monetary Authority. Izraf, Mukhriz and Azman Aziz, 2005, The Export Competition between China and ASEAN-5 Countries in the U.S. and Japan: A survey on Manufacturing sectors, Paper presented at WTO, CHINA, and the Asian Economies III: Economic Integration and Economic Development, Xi an Jiaotong University, Xi an, China, June 25-26, Liu, Yunhua, 2004, Economic Competition and Co-operation between ASEAN-5 and China in Trade, Paper presented at WTO, CHINA, and the Asian Economies II, Free Trade areas and New Economic Relations, Beijing, June 18-19, Wong, Kar-yiu, 2003, China s WTO Accession and Its Trade with the Southeast Asian Economies, memo, University of Washington. Hoa, Tran Van, 2004, Enlarged ASEAN Free Trade Agreement and Its Impact on China s Regional Trade, Growth and Economic Relations, Paper presented at the 2004 Forum on WTO, China and Asian Economies II, Free Trade areas and New Economic Relations, Beijing, June 18-19, Cabalu, Helen and Alfonso, Cristina (2007) "Does AFTA Create or Divert Trade?," Global Economy Journal, 7 (4), Article 6. Jiang, Tingsong and Warwick McKibbin, (2008). What Does a Free Trade Area of the Asia-Pacific Mean to China, Working Paper, Australian National University bcsi_scan_d4a612cf62fe9576=0&bcsi_scan_filename=jiang_mckibbin_ pdf Francois, Joseph F. and Wignaraja, Ganeshan (2008) "Economic Implications of Asian 5

6 Integration," Global Economy Journal, 8(3), Article 1. Chuang, Yih-chyi, 2009, Wean Asia off its Export Addiction, Taipei Times CHINA Arndt, Sven W., 2004, Trade Integration and Production Networks in Asia: The Role of China, memo, The Lowe Institute of Political Economy, Claremont McKenna College. Woo, Wing Thye, 2004, The Economic Impact of China s Emergence as a Major Trading Nation, Paper presented at the Forum on WTO, China and Asian Economies II, Free Trade areas and New Economic Relations, Beijing, June 18-19, Eichengreen, B., Y. Rhee, et al., 2007, "China and the exports of other Asian countries." Review of World Economics, 143(2), Greenaway, D., A. Mahabir, et al., 2008, "Has China displaced other Asian countries' exports?" China Economic Review, 19(2), Chuang, Yih-chyi, 2009, The Rise of China and Its Implications to World Economy, Chinese History and Society/Berliner China-Hefte, 37, Interbrand, 2009, Made in China 2008: The Challenge for Chinese Brands Going Global. Retrieved from: Wong, John, 2013, China in The Post-Financial Crisis East Asia: Towards A New Regional Economic Order, in China and East Asia: After the Wall Street Crisis, pp Yang Mu and Chong Siew Keng Catherine, 2013, China's Investment in Southeast Asia: Trends And Prospects, in China and East Asia: After the Wall Street Crisis, pp TAIWAN Cai, K. G., 2005, The China ASEAN Free Trade Agreement and Taiwan, Journal of Contemporary China, 14(45), Chen, Tain-Jy, 2003, Will Taiwan be Marginalized by China? Asian Economic Paper, 2, Chen, Tain-Jy, 2005, The Emergence of Hsinchu Science Park as an IT Cluster, paper presented at International Conference on the ICT Clusters in East Asia, Kitakyushu, Japan, December 12-14, Wang Zhi, 2003, WTO Accession, the Greater China Free-trade Area, and Economics Integration across the Taiwan Strait, China Economic Review, 14, Wu, Chi-jen, A Comparative Study of Economic Integration within Greater China: Perspectives of Hong Kong and Taiwan, memo. Chase, Michael S., Kevin L. Pollpeter, and James C. Mulvenon, 2004, Shanghaied? The Economic and Political Implications of the Flow of Information Technology and Investment across the Taiwan Strait, Technical Report-133, RAND National Security 6

7 Research Institute. Chuang, Yih-chyi, 2009, Devaluation Can t Solve Everything, Taipei Times. Chuang, Yih-chyi, 2009, ECFA: Focus on Issues, not Name, Taipei Times Chuang, Yih-chyi, 2009, The Economic Relations between Taiwan and Mainland China: Why ECFA? paper presented at the 26th Taiwan-Europe Conference on The European Union and East Asian Security: East Asia and the European Union in an Emerging Multipolar World, University of Warsaw, Warsaw, Poland, December 7-8, Wilson, William T., Market Solutions Should Be Central to U.S.'s Taiwan Policy, Backgrounder No. 2930, August 1, FINANCIAL AND MONETARY INTEGRATION Shan, Zhongdong, Shengping Zhang, Jianhong Qi, Financial Development in East Asia after the 1997 Crisis, memo, Institute of the Chinese Economy and WTO studies, Peking University Lee, Kyung Tae and Deok Ryong Yoon, A roadmap for East Asian monetary integration, Working Paper, Korea Institute for International Economic Policy (2008) ( =005&lTp=r&nowPage=1&listCnt=15) Regional financial cooperation in East Asia: the Chiang Mai Initiative and beyond, Chapter 8 in Bulletin on Asia-Pacific Perspectives 2002/03. Mundell, Robert, 2003, Prospects for an Asian Currency Area, Journal of Asian Economics, 14,