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Seminars/Symposia: FY2011

March, 2012

Special Seminar
  1. Date：March 28, 2012（Wed. ）16：00 - 18：00
  2. Place：Small Meeting Room I (Room no.330), 3rd Floor, Inamori Foundation Memorial Building
  3. Presenter：Prof. Pasuk Phongpaichit, Political Economy Centre, Faculty of Economics, Chulalongkorn University and CSEAS Visiting Research Fellow
  4. Topic：Inequality in Thailand and Japan
  5. Abstract：Increasing inequality has been one of the major themes of the present-day globalization or neoliberal era all around the world. In Thailand, extreme inequality (worse than in SEA neighbors) has contributed to the recent political unrest. In Japan income inequality has worsened to almost the same extent as in Thailand in recent years, but has been mitigated by government policies. What lies behind the difference between the two countries?
  6. Contact：Prof. Kaoru SUGIHARA, CSEAS, Kyoto University
The 10th Southeast Asia Forum
  1. Date： March 17 (Sat.), 2012
  2. Place：Twin Towers Hotel Bangkok
  3. Theme:FLOODS- Lessons Learned from Experiences
  4. Program：PDF
  5. Poster：PDF
JSPS Asian Core Program - Asian Connections: Southeast Asian Model for Co-Existence in the 21st Century
Kyoto Workshop on East Asian Economy : After the Global Financial Crisis in East Asia; Toward a New Model of East Asian Economy
  1. Date：March 13, 2012
  2. Place：Middle-sized Meeting Room (Room No. 333), Inamori Foundation Memorial Building, Kyoto University
  3. Co-organizer：Institute of Sustainability Science
  4. Program：PDF
  5. Statement：
  6. The prolonged crisis in Europe and the stagnation of the US economy have made East Asian economies look for new demands and create demands in their own region. The characteristics of big current account surpluses that appeared after the Asian Monetary Crisis in 1998 are now common in this region, with the exception of Vietnam. These characteristics were created by robust growth of exports, especially exports supported by production networks developed within the region. However a big current account surplus leads to a large savings-investment surplus. Another cause of this big gap between savings and investments is the stagnation of investment in the region for a decade after 2000. In China, the savings-investment surplus is related to having consumption levels too small for the scale of the national economy. The large current account surplus in this region was behind the global imbalance that was apparent in 2008, and may lead to currency appreciation that could hurt domestic industry.
  7. Many ideas and measures have been proposed in an attempt to improve the situation. The immediate policy response was to increase government spending, such as spending on public works. However, this time a Keynesian short-term policy is insufficient because the issue is related to structural factors, such as boosting Chinese private consumption or increasing investments. Remedies intended to fill the savings-investment gap with Government spending can lead to long-term chronic budget deficits. Large-scale money supply by central banks with reducing the interest rates should also be a short-term policy. Now is the time to rethink the issue more fundamentally and from a longer-term perspective.
  8. The first idea proposed is to boost the regional markets both for products and for money flows. For example, this could be done by way of establishing an East Asian Community. How do free trade agreements and new systems enhance trade within the region? Attempts to foster an Asian bond market made since 1997 have failed so far, but we need to see a flow of money though both formal and informal networks between people, especially by family businesses expanding their networks.
  9. The second idea is to enhance collaboration to strengthen the production networks in this region, or to implement policies such as supply side policies to enhance or upgrade industrial structures with high value added production capabilities and high-level human resources. This idea may increase the current account surplus, at least in the short term, because of the increase of exports. For this idea, creating regional demands is essential, because of current poor expectations for the European and US markets.
  10. The third idea comes from the observation that so far the East Asian economic model is too export-biased, with undervalued currency, low wages for workers, and low social security levels – an approach labeled "welfare capitalism" that gives priority to productivity. Such a model lowers the levels of consumption, demand, and welfare of the people based on the "dangerous obsession" that lower wage levels and less control over security are necessary to enhance international competitiveness. The third idea emphasizes the importance of internal markets through wage-led profit-led policies accompanied with improvement of social security and improved income distribution.
  11. The global financial crisis impacted on the region because of the sudden loss of exports to US and European markets, and a consequent decrease in demand. Subsequent recovery of the East Asian economies has further enhanced the importance of Inter-Asian markets and economies, and enhanced the inter-reliance of economies in the region.
  12. Here we need measures that will further develop medium-term and long-term regional demands. We can envisage many real needs and necessities among the people of the region. It is important for all of the people to be able to live healthy and secure lives. Natural disaster prevention, hygiene or health related institutions, and social security are all needed by the people. Green development is expected to boost technological innovation, investment, and produce further demands. Job creation by enhancing local industry, or by further development of high tech industry related to regional demands, with extensive forward and backward linkage, can reduce income disparities, boost investment, and lead to further consumption or exports. Innovations oriented towards living healthy and secure lives, green economy oriented innovation and growth, and regional demands induced by Sustainable Humanosphere or similar development may all be alternatives for creating medium- or long-term demands in the region, and for improving the livelihood, environment, and welfare of the people.
  13. As an example, in Indonesia, where there has been significant earthquake damage in recent years, neglected seismic standards can improve the housing stock, and create long-term demand for the construction of safe, privately-financed housing.
  14. We will analyze the East Asian economy following the global financial crisis, examine what measures are taken to boost domestic and regional demands, and investigate how effective these measures are. We further analyze the response of trade, consumption, investment, and currency rates in each country, and we will examine the change of inter-regional trade in East Asia that is replacing a reliance on the US markets. Also, we will discuss an alternative East Asian model that will emphasize living healthy and secure lives, the green economy, and regional demand supported both through institutional frameworks and informal means that will sustain economic growth, and will bring improvements in the welfare of people in this region.
  15. The workshop will be held in Kyoto on March 13, 2012. It will cover South Korea, the Philippines, Malaysia, Thailand, Singapore and Indonesia and analyze means of collaboration within the region. Papers on China, Vietnam and Japan are included in the proceeding.
Special Seminar (Kaffeklatsch )
  1. Date： March 1 (Thurs.), 2012
  2. Place：the Tonantei, Inamori Foundation Memorial Building 2Floor, Kyoto University
  3. Title:Khun Chang Khun Phaen: love and power in a Thai folk epic
  4. Speaker：Chris Baker and Pasuk Phongpaichit
  5. Program：PDF
 

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