Is It Desirable for Asian Economies to Hold More Asian Assets in Their Foreign Exchange...

download Is It Desirable for Asian Economies to Hold More Asian Assets in Their Foreign Exchange Reserves?—The People’s Republic of China’s Answer

of 13

Transcript of Is It Desirable for Asian Economies to Hold More Asian Assets in Their Foreign Exchange...

  • 8/4/2019 Is It Desirable for Asian Economies to Hold More Asian Assets in Their Foreign Exchange Reserves?The Peoples R

    1/13

    NMK@ Uj{g`oe \n|d{ Xd{`dx

    @x @} Mdx`{nkbd fj{ Nx`no Dhjojc`dx}j Ajbm Cj{d Nx`no Nxxd}x `o ]ad`{Fj{d`eo Dqhanoed [dxd{vdx:]ad\dj|bdx [d|tkb`h jf Ha`onxNoxud{

    K`o Yanoe

    Oj/ 8

    Nx`no Mdvdbj|cdo} Knog @ox}`}t}d

  • 8/4/2019 Is It Desirable for Asian Economies to Hold More Asian Assets in Their Foreign Exchange Reserves?The Peoples R

    2/13

    K`o Yanoe `x xdo`j{ {dxdn{ha fdbbju n} }ad @ox}`}t}d jf Uj{bm Dhjojc`hx nom \jb`}`hx"Ha`odxd Nhnmdcp jf Xjh`nb Xh`dohdx" Kd`i`oe/

    ]ad v`dux dq|{dxxdm `o }a`x |n|d{ n{d }ad v`dux jf }ad nt}aj{x nom mj oj} odhdxxn{`bp{dfbdh} }ad v`dux j{ |jb`h`dx jf NMK@" }ad Nx`no Mdvdbj|cdo} Knog !NMK)" `}x Kjn{m jfM`{dh}j{x" j{ }ad ejvd{ocdo}x }adp {d|{dxdo}/ NMK@ mjdx oj} etn{no}dd }ad nhht{nhp jf

    }ad mn}n `ohbtmdm `o }a`x |n|d{ nom nhhd|}x oj {dx|jox`k`b`}p fj{ nop hjoxd~tdohdx jf}ad`{ txd/ ]d{c`ojbjep txdm cnp oj} odhdxxn{`bp kd hjox`x}do} u`}a NMK jff`h`nb }d{cx/

    ]ad Uj{g`oe \n|d{ xd{`dx `x n hjo}`otn}`jo jf }ad fj{cd{bp oncdm M`xhtxx`jo \n|d{ xd{`dx7}ad otckd{`oe jf }ad |n|d{x hjo}`otdm u`}ajt} `o}d{{t|}`jo j{ hanoed/ NMK@x uj{g`oe|n|d{x {dfbdh} `o`}`nb `mdnx jo n }j|`h nom n{d |jx}dm job`od fj{ m`xhtxx`jo/ NMK@ dohjt{nedx

    {dnmd{x }j |jx} }ad`{ hjccdo}x jo }ad cn`o |ned fj{ dnha uj{g`oe |n|d{ !e`vdo `o }adh`}n}`jo kdbju)/ Xjcd uj{g`oe |n|d{x cnp mdvdbj| `o}j j}ad{ fj{cx jf |tkb`hn}`jo/

    Xteedx}dm h`}n}`jo9

    Yanoe" K/ ;>/ @x @} Mdx`{nkbd fj{ Nx`no Dhjojc`dx }j Ajbm Cj{d Nx`no Nxxd}x `o ]ad`{Fj{d`eo Dqhanoed [dxd{vdx:]ad \dj|bdx [d|tkb`h jf Ha`onx Noxud{/ NMK@ Uj{g`oe\n|d{ 8*/fj{d`eo/dqhanoed/{dxd{vdx/|{h*

    \bdnxd hjo}nh} }ad nt}aj{x fj{ `ofj{cn}`jo nkjt} }a`x |n|d{/

    Dcn`b9 kiyanoek`oLecn`b/hjc

    Nx`no Mdvdbj|cdo} Knog @ox}`}t}dGnxtc`enxdg` Kt`bm`oe 1F8#;#4 Gnxtc`enxdg`" Ha`pjmn#gt]jgpj >

  • 8/4/2019 Is It Desirable for Asian Economies to Hold More Asian Assets in Their Foreign Exchange Reserves?The Peoples R

    3/13

    NMK@ Uj{g`oe \n|d{ 8>

  • 8/4/2019 Is It Desirable for Asian Economies to Hold More Asian Assets in Their Foreign Exchange Reserves?The Peoples R

    4/13

    NMK@ Uj{g`oe \n|d{ 8/ @o}{jmth}`jo////////////////////////////////////////////////////////////////////////////////////////////////////////////////// 8>/> Ebjknb knhge{jtom //////////////////////////////////////////////////////////////////////////////////////////// 8>/; [de`jonb knhge{jtom //////////////////////////////////////////////////////////////////////////////////////// 8>/8 \[H knhge{jtom /////////////////////////////////////////////////////////////////////////////////////////////// =>/= X}{th}t{d jf }a`x |n|d{ /////////////////////////////////////////////////////////////////////////////////////// =

    ;/ [dnb [d}t{ox jo Fj{d`eo Dqhanoed [dxd{vdx //////////////////////////////////////////////////////////// 4;/> Hjohd|} ///////////////////////////////////////////////////////////////////////////////////////////////////////////// 4;/; [d}t{o jo fj{d`eo dqhanoed {dxd{vd nxxd}x `o }d{cx jf n knxgd} jf `c|j{}dm

    ejjmx nom xd{v`hdx /////////////////////////////////////////////////////////////////////////////////////////// 68/ Ojc`onb nom [dnb [d}t{ox jo Cnij{ Nx`no Ht{{dohp Mdojc`on}dm Nxxd}x//////////////// 5

    8/> Ojc`onb {d}t{ox jo cnij{ Nx`no ht{{dohp mdojc`on}dm nxxd}x //////////////////////// 58/; ]ad |t{hanx`oe |jud{ jf cnij{ Nx`no ht{{doh`dx `o }d{cx jf }ad \[Hx

    `c|j{}dm ejjmx nom xd{v`hdx //////////////////////////////////////////////////////////////////////////// 08/8 ]ad {dnb {d}t{o jo Nx`no nxxd}x //////////////////////////////////////////////////////////////////////// 0

    =/ Hjohbtx`jo///////////////////////////////////////////////////////////////////////////////////////////////////////////////// >>

  • 8/4/2019 Is It Desirable for Asian Economies to Hold More Asian Assets in Their Foreign Exchange Reserves?The Peoples R

    5/13

    NMK@ Uj{g`oe \n|d{ 8/ @O][JMTH]@JO

    >/> Ebjknb knhge{jtom

    ]ad ebjknb f`onoh`nb h{`x`x `o ;/; [de`jonb knhge{jtom

    X`ohd }ad Nx`no f`onoh`nb h{`x`x jf >005" nhnmdc`hx nom |jb`hpcngd{x `o Nx`n anvd nmvjhn}dm }an}Nx`no dhjojc`dx xajtbm x}{doe}ado f`onoh`nb nom cjod}n{p hjj|d{n}`jo `o }ad {de`jo/ Dhjojc`x}xn{d `o hjoxdoxtx nkjt} otcd{jtx nx|dh}x jf xtha hjj|d{n}`jo" xtha nx xaj{}#}d{c b`~t`m`}pxt||j{}" mdvdbj|cdo} jf {de`jonb kjom cn{gd}x" {de`jonb dqhanoed {n}d |jb`hp hjj|d{n}`jo" nomxj jo/ ]ad dxxdo}`nb n`c jf xtha hjj|d{n}`jo ujtbm kd }j {dmthd }ad jvd{#md|domdohd jf }ad{de`jo jo }ad TX mjbbn{" }ad{dkp `c|{jv`oe {de`jonb f`onoh`nb x}nk`b`}p nom |{jcj}`oe {de`jonb }{nmd

    nom `ovdx}cdo} mdvdbj|cdo} !NXDNO'8 [dxdn{ha E{jt|;]ad NXDNO'8 hjto}{`dx n{d @omjodx`n" Cnbnpx`n" \a`b`||`odx" X`oen|j{d" ]an`bnom" K{tod` Mn{txxnbnc" Cpnocn{"Hnckjm`n" Bnj \M[" V`d} Onc" }ad \dj|bdx [d|tkb`h jf Ha`on" In|no" nom }ad [d|tkb`h jf Gj{dn/

    8

    http://en.wikipedia.org/wiki/Medium_of_exchangehttp://en.wikipedia.org/wiki/Unit_of_accounthttp://en.wikipedia.org/wiki/Indonesiahttp://en.wikipedia.org/wiki/Malaysiahttp://en.wikipedia.org/wiki/Philippineshttp://en.wikipedia.org/wiki/Singaporehttp://en.wikipedia.org/wiki/Thailandhttp://en.wikipedia.org/wiki/Bruneihttp://en.wikipedia.org/wiki/Cambodiahttp://en.wikipedia.org/wiki/Vietnamhttp://en.wikipedia.org/wiki/Vietnamhttp://en.wikipedia.org/wiki/Cambodiahttp://en.wikipedia.org/wiki/Bruneihttp://en.wikipedia.org/wiki/Thailandhttp://en.wikipedia.org/wiki/Singaporehttp://en.wikipedia.org/wiki/Philippineshttp://en.wikipedia.org/wiki/Malaysiahttp://en.wikipedia.org/wiki/Indonesiahttp://en.wikipedia.org/wiki/Unit_of_accounthttp://en.wikipedia.org/wiki/Medium_of_exchange

  • 8/4/2019 Is It Desirable for Asian Economies to Hold More Asian Assets in Their Foreign Exchange Reserves?The Peoples R

    6/13

    NMK@ Uj{g`oe \n|d{ 8

  • 8/4/2019 Is It Desirable for Asian Economies to Hold More Asian Assets in Their Foreign Exchange Reserves?The Peoples R

    7/13

    NMK@ Uj{g`oe \n|d{ 8 Hjohd|}

    Fj{ }ad cnonedcdo} jf fj{d`eo dqhanoed {dxd{vdx `} `x jf gdp `c|j{}nohd }j anvd nhjc|{dadox`vd nom jkidh}`vd tomd{x}nom`oe jf {d}t{ox jo fj{d`eo dqhanoed {dxd{vdx/ @o }ad|{jhdxx jf hnbhtbn}`oe {d}t{ox jo fj{d`eo dqhanoed {dxd{vdx" }ad f`{x} |{jkbdc `x }ad xdbdh}`jo jfno n||{j|{`n}d {dfd{dohd ht{{dohp j{ }ad to`} jf nhhjto}/ ]ad haj`hd jf n {dfd{dohd ht{{dohp `xmd}d{c`odm kp }ad |n{}`htbn{ jkidh}`vdx n`c`oe }j kd nha`dvdm kp fj{d`eo dqhanoed {dxd{vdcnonedcdo}/ ]a{dd haj`hdx n||dn{ `o }ad b`}d{n}t{d nx }ad cjx} }p|`hnb jodx !Qt nom Yanoe";00>7 Kdhg nom [nakn{`" ;0101=)"Aj{`` !>016)" nom Mdbbnx !>010) fj{ cj{d md}n`bx/

    @o |{nh}`hd" }ad TX mjbbn{ `x u`mdbp txdm nx }ad {dfd{dohd ht{{dohp" oj} jobp kdhntxd `} `x }ad cjx}b`~t`m nom u`mdbp nhhd|}dm `o `o}d{on}`jonb nhhjto}`oe nom |npcdo}x" kt} nbxj kdhntxd `} `x nkbd }jcdd} }ad oddmx jf hdo}{nb knogx }j `o}d{vdod `o fj{d`eo dqhanoed cn{gd}x j{ }j f`onohd }ad`{hn|`}nb nhhjto}x/ Noj}ad{ `c|j{}no} cj}`vn}`jo b`dx `o }ad fnh} }an} `} jffd{x n pn{mx}`hg fj{nxxdxx`oe }ad {dbn}`vd |d{fj{cnohdx jf hdo}{nb knogx nx `ox}`}t}`jonb `ovdx}j{x" x`ohd dc|bjp`oe}ad mjbbn{ nx }ad to`} jf nhhjto} `x a`eabp nhhd|}dm ncjoex} ebjknb `ox}`}t}`jonb `ovdx}j{x/

    Knxdm jo n hjc|{dadox`vd b`}d{n}t{d {dv`du jf kj}a }adj{d}`hnb nom dc|`{`hnb x}tm`dx" [jed{!>008) `mdo}`f`dm }a{dd cj}`vdx fj{ }ad ajbm`oe jf fj{d`eo dqhanoed {dxd{vdx kp hdo}{nb knogx9 !>)}{noxnh}`jox oddmx" oncdbp }j f`onohd {dnm`bp fj{dxddnkbd fj{d`eo dqhanoed mdcnomx jf d`}ad{}ad |tkb`h j{ }ad |{`vn}d xdh}j{7 !;) `o}d{vdo}`jo oddmx" oncdbp fj{ }ad |t{|jxd jf fj{d`eodqhanoed cn{gd} `o}d{vdo}`jo nom cdd}`oe cnh{jdhjojc`h |jb`hp }n{ed}x" ua`ha `x hjox`md{dm }jkd }ad cjx} `c|j{}no} xjt{hd jf mdcnom fj{ {dxd{vdx7 !8) udnb}a m`vd{x`f`hn}`jo j{ |j{}fjb`jhjox`md{n}`jox" oncdbp fj{ }ad |t{|jxd jf cn`o}n`o`oe j{ doanoh`oe }ad vnbtd jf fj{d`eo dqhanoed{dxd{vdx/ X`ohd }ad \[Hx ht{{do} fj{d`eo dqhanoed {dxd{vdx n{d ctha bn{ed{ }ano odhdxxn{p }j

    cdd} {detbn{ {dxd{vd mdcnomx fj{ mdk} {d|npcdo}" ht{{do} nhhjto} mdf`h`} |npcdo}x" nom`o}d{vdo`oe `o }ad fj{d`eo dqhanoed cn{gd} }j x}nk`b`yd ptno dqhanoedx" cn`o}n`o`oe }ad`{ bjoe#}d{c vnbtd nom{dnb`y`oe a`ea `ovdx}cdo} p`dbmx `o {dnb |t{hanx`oe |jud{ }d{cx anvd kdhjcd }ad|{`cn{p }n{ed}x; jf }ad \[Hx fj{d`eo dqhanoed {dxd{vd cnonedcdo}/

    ;Knxdm jo n xt{vdp hjomth}dm kp }ad nt}aj{x `o ;

  • 8/4/2019 Is It Desirable for Asian Economies to Hold More Asian Assets in Their Foreign Exchange Reserves?The Peoples R

    8/13

    NMK@ Uj{g`oe \n|d{ 8

  • 8/4/2019 Is It Desirable for Asian Economies to Hold More Asian Assets in Their Foreign Exchange Reserves?The Peoples R

    9/13

    NMK@ Uj{g`oe \n|d{ 8/

    {d|{dxdo}x }ad {dnb dffdh}`vd dqhanoed {n}d jf n ht{{dohp q `o }d{cx jf n knxgd} jf `c|j{}dm

    ejjmx nom xd{v`hdx/ ]ng`oe nx no dqnc|bd" no `oh{dnxd `o `om`hn}dx n jod to`} TX

    mjbbn{ `oh{dnxd `o |t{hanx`oe |jud{ jf n knxgd} jf }ad \[Hx `c|j{} ejjmx nom xd{v`hdx/ ]ad{d

    n{d }uj `c|j{}no} m`ffd{dohdx kd}uddo }ad txdm ad{d nom }ad edod{nbbp {dfd{{dm}j/ ]ad f`{x} `x }an} }ad ud`ea}x jf vn{`jtx ht{{doh`dx `o }ad knxgd} fj{ }ad fj{cd{ n{d md}d{c`odm kp}ad \[Hx `c|j{} x}{th}t{d" ua`bd }ajxd jf }ad bn}}d{ md|dom jo }ad fj{d`eo }{nmd x}{th}t{d jf }ad

    TX/ ]ad xdhjom `x }an} }ad edod{nbbp {dfd{{dm }j {d|{dxdo}x }ad {dbn}`vd |{`hd hanoedx jf

    n knxgd} jf TX ejjmx nom xd{v`hdx {dbn}`vd }j n knxgd} jf ejjmx jf }{nmd |n{}od{x" ua`bd }ad

    mdf`odm ad{d {dfbdh}x }ad {dbn}`vd |{`hd hanoedx jf jod to`} jf TX mjbbn{ {dbn}`vd }j n knxgd}

    jf ejjmx nom xd{v`hdx/ Ud mj oj} nmitx} }ad dqhanoed {n}d fj{ TX |{`hdx bdvdbx" kt} fj{ }ad |{`hdbdvdbx jf }ad \[Hx }{nm`oe |n{}od{x/

    q{dd{

    TXq 3TX

    {dd{

    TX{dd{ TX{dd{

    TX{dd{

    TX{dd{

    8/ OJC@ONB NOM [DNB [D]T[OX JO CNIJ[ NX@NO

    HT[[DOHP MDOJC@ON]DM NXXD]X

    8/> Ojc`onb {d}t{ox jo cnij{ Nx`no ht{{dohp mdojc`on}dm nxxd}x

    Jff`h`nb fj{d`eo dqhanoed {dxd{vdx anvd a`ea {d~t`{dcdo}x `o }d{cx jf xnfd}p nom b`~t`m`}p" nom }adb`jox xan{d jf }adc n{d `ovdx}dm `o ejvd{ocdo} kjomx nom nedohp kjomx/ Mtd }j mn}nhjox}{n`o}x" ud jobp hjox`md{ }ad {d}t{o jo bjoe }d{c ejvd{ocdo} kjomxno dnx`bp nhhd|}dmhaj`hd fj{ fj{d`eo dqhanoed {dxd{vd nxxd} cnoned{x/ Ud jobp hjox`md{ xdvd{nb cnij{ Nx`nodhjojc`dx" xtha nx In|no" @om`n" }ad [d|tkb`h jf Gj{dn" ]an`bnom" Cnbnpx`n" nom X`oen|j{dnbbjf }adc `ohbtmdm `o }ad b`x} jf }ad \[Hx }udo}p bn{edx} `c|j{} hjto}{`dx/ @o nmm`}`jo" ud `ohbtmdNtx}{nb`n `o jt{ {dxdn{ha/ Jt{ {dxdn{ha |d{`jm `x f{jc Inotn{p ;

  • 8/4/2019 Is It Desirable for Asian Economies to Hold More Asian Assets in Their Foreign Exchange Reserves?The Peoples R

    10/13

    NMK@ Uj{g`oe \n|d{ 89 P`dbm jo Bjoe#]d{c Ejvd{ocdo} Kjomx `o Bjhnb Ht{{dohp ]d{cx !$)

    Oj}d9 TX" @O[" G[" CP" XE" ]A" I\" NT mdoj}d TX" @om`n" [d|tkb`h jf Gj{dn" Cnbnpx`n" X`oen|j{d" ]an`bnom" In|no" nomNtx}{nb`n" {dx|dh}`vdbp/

    Mn}n Xjt{hd9 HD@H

    ]ad {dxtb} hjtbm kd vd{p m`ffd{do} `f ud xtkx}`}t}dm }ad TX mjbbn{ fj{ bjhnb ht{{doh`dx nx }ad{dfd{dohd ht{{dohp/ @o f`et{d ;" }ad nvd{ned p`dbmx jo ejvd{ocdo} kjomx fj{ cnij{ Nx`nodhjojc`dx dqhd|} fj{ In|no `o TX mjbbn{ }d{cx n{d a`ead{ }ano }an} jf TX ]{dnxt{p k`bbx" nom }adx}nomn{m d{{j{ jf }ajxd kjomx n{d a`ead{ }ano }an} jf TX }{dnxt{p k`bbx }jj/ ]ad nvd{ned p`dbm joNtx}{nb`no ejvd{ocdo} kjomx `o TX mjbbn{ }d{cx `x a`ead{ }ano }an} jf TX ]{dnxt{p k`bbx" nom }adx}nomn{m d{{j{ jf Ntx}{nb`no ejvd{ocdo} kjomx `x bjud{ }ano }an} jf TX ]{dnxt{p k`bbx/

    F`et{d ;9 P`dbm jo Bjoe#]d{c Ejvd{ocdo} Kjomx `o TX Mjbbn{ ]d{cx !$)

    Oj}d9 TX" @O[" G[" CP" XE" ]A" I\" NT mdoj}d TX" @om`n" [d|tkb`h jf Gj{dn" Cnbnpx`n" X`oen|j{d" ]an`bnom" In|no" nomNtx}{nb`n" {dx|dh}`vdbp/

    Xjt{hd9 HD@H nom nt}aj{x hnbhtbn}`jo

    1

  • 8/4/2019 Is It Desirable for Asian Economies to Hold More Asian Assets in Their Foreign Exchange Reserves?The Peoples R

    11/13

    NMK@ Uj{g`oe \n|d{ 87 nom !;) }ad hanoed `o|t{hanx`oe |jud{ jf }ad \[Hx `c|j{}dm ejjmx nom xd{v`hdx fj{ dnha bjhnb ht{{dohp" oncdbp }ad

    {dnb dffdh}`vd dqhanoed {n}d fj{ dnha bjhnb ht{{dohp/ ]ad bn}}d{ `x hjox}{th}dm knxdm jo fj{ctbn!;)/

    @o f`et{d 8" cnij{ Nx`no ht{{doh`dx |t{hanx`oe |jud{ `o }d{cx jf }ad \[Hx `c|j{}x jf ejjmx nomxd{v`hdx mdhb`odm `o }an} dnha ht{{dohpx n||{dh`n}`jo nen`ox} }ad \[Hx cnij{ }{nmd |n{}od{x `xbdxx }ano }ad ud`ea}dm nvd{ned `ofbn}`jo jf }ajxd }{nm`oe |n{}od{x/ F{jc Inotn{p ;$/ Jod to`} jf Ntx}{nb`no mjbbn{x |t{hanx`oe |jud{ `o }d{cx jf }ad\[Hx `c|j{}x jf ejjmx nom xd{v`hdx knxgd} `oh{dnxdm kp 6$/

    F`et{d 89 \t{hanx`oe \jud{ Hanoedx `o ]d{cx jf }ad \[Hx @c|j{}x jf Ejjmx nomXd{v`hdx Knxgd} fj{ Jod To`} jf Ht{{dohp !$)

    Oj}d9 TX" @O[" G[" CP" XE" ]A" I\" NT mdoj}d TX" @om`n" [d|tkb`h jf Gj{dn" Cnbnpx`n" X`oen|j{d" ]an`bnom" In|no" nomNtx}{nb`n" {dx|dh}`vdbp/

    Xjt{hd9 HD@H nom nt}aj{x hnbhtbn}`jo

    8/8 ]ad {dnb {d}t{o jo Nx`no nxxd}x

    Hjck`o`oe ojc`onb {d}t{o nom dnha ht{{dohpx |t{hanx`oe |jud{ hanoed `o }d{cx jf }ad \[Hx`c|j{}x jf ejjmx nom xd{v`hdx knxgd}" ud jk}n`odm }ad {dnb {d}t{o jo dnha nxxd}/ Nx xajuo `oF`et{d =" jvd{ }ad |d{`jm jf Inotn{p ;

  • 8/4/2019 Is It Desirable for Asian Economies to Hold More Asian Assets in Their Foreign Exchange Reserves?The Peoples R

    12/13

    NMK@ Uj{g`oe \n|d{ 8/44$" $" #

  • 8/4/2019 Is It Desirable for Asian Economies to Hold More Asian Assets in Their Foreign Exchange Reserves?The Peoples R

    13/13

    NMK@ Uj{g`oe \n|d{ 801

    Kdo#Knxxn}" N/ >01=/ [dxd{vd#Ht{{dohp M`vd{x`f`hn}`jo nom }ad Xtkx}`}t}`jo Nhhjto}/ Dxxnpx `o@o}d{on}`jonb F`onohd/ \{`ohd}jo" OI/ Oj/ 48/

    Mdbbnx" A/ >010/ @o}d{on}`jonb {dxd{vd ht{{doh`dx/ @CF Uj{g`oe \n|d{ Oj/ U\ 10>4/ @o}d{on}`jonbCjod}n{p Ftom/

    Mdbbnx" A/" nom H/ Pjj/ >00>/ [dxd{vd ht{{dohp |{dfd{dohdx jf hdo}{nb knogx9 }ad hnxd jf Gj{dn/Ijt{onb jf @o}d{on}`jonb Cjodp nom F`onohd>0/

    Adnbp" N/ >01>/ N x`c|bd {de{dxx`jo }dhao`~td fj{ }ad j|}`cnb m`vd{x`f`hn}`jo jf fj{d`eo dqhanoed{dxd{vdx/ @CF Uj{g`oe \n|d{ Oj/ MC*1>*6=/ @o}d{on}`jonb Cjod}n{p Ftom/

    Aj{``" N/ >016/ ]ad Dvjbt}`jo jf [dxd{vd Ht{{dohp M`vd{x`f`hn}`jo/ K@X Dhjojc`h \n|d{x Oj/ >1/Knog fj{ @o}d{on}`jonb Xd}}bdcdo}x/

    Gjt{`" \/" nom I/ md Cnhdmj/ >051/ Dqhanoed {n}dx nom }ad `o}d{on}`jonb nmitx}cdo} |{jhdxx/K{jjg`oex \n|d{x jo Dhjojc`h Nh}`v`}p!>)9 >>>>45/

    [`ggjodo" G/ >010/ ]ad j|}`cnb ht{{dohp m`x}{`kt}`jo jf n hdo}{nb knogx fj{d`eo dqhanoed{dxd{vdx/ Knog jf F`obnom M`xhtxx`jo \n|d{ Oj/ ;1*10/

    [jed{" X/ >008/ ]ad cnonedcdo} jf fj{d`eo dqhanoed {dxd{vd/ K@X Dhjojc`h \n|d{x Oj/81/Knog fj{ @o}d{on}`jonb Xd}}bdcdo}x/

    TO Hjcc`xx`jo/ ;

    http://www.mof.go.jp/english/if/regional_financial_cooperation.htmhttp://www.mof.go.jp/english/if/regional_financial_cooperation.htm

answering china’s economic challenge · the national bureau of asian research nbr special report #76 | february 2019 answering china’s economic challenge Preserving Power, Enhancing

answering china’s economic challenge · the national bureau of asian research nbr special report #76 | february 2019 answering china’s economic challenge Preserving Power, Enhancing

Culture of the East Asian World - GlobalSecurity.org · Culture of the East Asian World acknowledges China’s ... professor Samuel Huntington, ... Civilizations and the Remaking

Culture of the East Asian World - GlobalSecurity.org · Culture of the East Asian World acknowledges China’s ... professor Samuel Huntington, ... Civilizations and the Remaking

Asian tourism seasonality, with an emphasis on … · Asian tourism seasonality, with an emphasis on China’s Golden Week system Thesis submitted by Tingzhen Chen Bachelor in Tourism

Asian tourism seasonality, with an emphasis on … · Asian tourism seasonality, with an emphasis on China’s Golden Week system Thesis submitted by Tingzhen Chen Bachelor in Tourism

Asian Infrastructure Investment Bank: Opportunities and …devpolicy.org/2015-Australasian-aid-conference/... · 2019-09-22 · 1 China’s New International Development Initiative

Asian Infrastructure Investment Bank: Opportunities and …devpolicy.org/2015-Australasian-aid-conference/... · 2019-09-22 · 1 China’s New International Development Initiative

China’s Economic Prospects European Representative Office Asian Development Bank Berlin, 13 October 2000.

China’s Economic Prospects European Representative Office Asian Development Bank Berlin, 13 October 2000.

Agenda China's emerging role in Southeast Asian Affairs 1 Introduction China’s insertion to the IPE 2 A critical perspective 3 How China’s Soft Power Strategy.

Agenda China's emerging role in Southeast Asian Affairs 1 Introduction China’s insertion to the IPE 2 A critical perspective 3 How China’s Soft Power Strategy.

HEBREWS. A More Desirable Timetable A More Desirable Timetable.

HEBREWS. A More Desirable Timetable A More Desirable Timetable.

Desirable discourses’

Desirable discourses’

East Asian Trade Relations in the Wake of China’s …dwrh/Slides/Tokyo CGP Conference - DRH...East Asian Trade Relations in the Wake of ... can apparently “go it alone” to globalization.

East Asian Trade Relations in the Wake of China’s …dwrh/Slides/Tokyo CGP Conference - DRH...East Asian Trade Relations in the Wake of ... can apparently “go it alone” to globalization.

China’s Shifting Role and Motives in East Asian Economic · proposal in 2001) from a Chinese perspective. China’s grand strategy, which highlighted the neighbours’ ... implications

China’s Shifting Role and Motives in East Asian Economic · proposal in 2001) from a Chinese perspective. China’s grand strategy, which highlighted the neighbours’ ... implications

CHINA’S MILITARY POTENTIAL - Federation of American ... · December 1997 to May 1998 he was Director of Asian ... CHINA’S MILITARY POTENTIAL The People’s Republic of China ...

CHINA’S MILITARY POTENTIAL - Federation of American ... · December 1997 to May 1998 he was Director of Asian ... CHINA’S MILITARY POTENTIAL The People’s Republic of China ...

China’s Technological Capability Jon Sigurdson East Asian Institute, Singapore & Stockholm School of Entrepreneurship Asian Development Bank Institute.

China’s Technological Capability Jon Sigurdson East Asian Institute, Singapore & Stockholm School of Entrepreneurship Asian Development Bank Institute.

HEBREWS. A More Desirable Relationship A More Desirable Relationship.

HEBREWS. A More Desirable Relationship A More Desirable Relationship.

China’s Scientific Tradition and the Great Inertia San-pao Li, Ph.D. Department of Asian and Asian American Studies California State University, Long.

China’s Scientific Tradition and the Great Inertia San-pao Li, Ph.D. Department of Asian and Asian American Studies California State University, Long.

Human Security in Practice: East Asian Experiences · PDF fileHuman Security in Practice: East Asian Experiences . ... attract China’s attention and prompt Beijing to ... Innocent

Human Security in Practice: East Asian Experiences · PDF fileHuman Security in Practice: East Asian Experiences . ... attract China’s attention and prompt Beijing to ... Innocent

CHINA’S TRANSITION UNDER XI JINPING...x China’s Transition under Xi Jinping hinterland. Notwithstanding his vision, energy, and pragmatic statesmanship, the desirable outcomes

CHINA’S TRANSITION UNDER XI JINPING...x China’s Transition under Xi Jinping hinterland. Notwithstanding his vision, energy, and pragmatic statesmanship, the desirable outcomes

China’s Visions of Future East Asian Economic Integration · 2016-10-06 · Prime Minister Mahathir bin Mohamad proposed the East Asian Economic Caucus (EAEC), a regional FTA for

China’s Visions of Future East Asian Economic Integration · 2016-10-06 · Prime Minister Mahathir bin Mohamad proposed the East Asian Economic Caucus (EAEC), a regional FTA for

Introduction: Neighbouring in the Borderworlds Along China’s ......Asian Borderlands Asian Borderlands presents the latest research on borderlands in Asia as well as on the borderlands

Introduction: Neighbouring in the Borderworlds Along China’s ......Asian Borderlands Asian Borderlands presents the latest research on borderlands in Asia as well as on the borderlands

Department of Agriculture Cotton: Foreign …...2015/08/12  · China’s Share of U.S. Export Continues to Erode as Southeast Asian Markets Rise China’s share of U.S. exports dropped

Department of Agriculture Cotton: Foreign …...2015/08/12  · China’s Share of U.S. Export Continues to Erode as Southeast Asian Markets Rise China’s share of U.S. exports dropped

CHINA China’s Incredible Journey! Jamie!. Table of Contents Page Page China’s Land. 1 China’s Climate. 2 China’s Water. 3 China’s Transformation. 4 China’s.

CHINA China’s Incredible Journey! Jamie!. Table of Contents Page Page China’s Land. 1 China’s Climate. 2 China’s Water. 3 China’s Transformation. 4 China’s.