Today Trends

Author: Mark S Cogan, Kansai Gaidai University In October 2023, Russia and China made headlines due to their actions in the United Nations (UN). The UN Security Council rejected a Russia-sponsored resolution on Gaza that did not mention Hamas. Moscow failed to return to the UN Human Rights Council after being expelled in April 2022 because of its invasion of Ukraine. China voted with Russia on the Gaza resolution, but unlike its Russian counterpart, was re-elected to the UN Human Rights Council in October 2023 for another three-year term . While evidence points to a decline in Russian influence — and despite resistance efforts from various organisations to curb Beijing’s behaviour — both countries will persevere. Part of the reason for this is embedded in the ‘ path dependence ’ of the UN. Now approaching 80 years old, the organisation was created for a different era. Attempts at reform failed because countries searching for additional status and prestige , such as India and Japa...

Author: Jean-Marc F Blanchard, Mr & Mrs SH Wong Center for the Study of Multinational Corporations Not so long ago, countries were ecstatic about the potential of China’s Belt and Road Initiative (BRI), a mega-infrastructure scheme launched in 2013 that would connect the world through ports, power grids, railways, roads and telecommunications networks. Western pundits worried that BRI projects were pulling countries into China’s orbit , empowering Chinese companies and birthing a Sinocentric global order . For many, it was obvious the road was speeding along as ‘evidenced’ by China’s investments, loans or grants ranging from hundreds of billions to, supposedly, the low trillions of dollars. Commentators often mixed distinct kinds of monies, classifying loans to countries like Venezuela as BRI loans, equating money invested in or lent to BRI participant countries as BRI money, or labelling projects with no connectivity features as BRI projects. China facilitated these misjudgeme...

Author: Amalina Anuar, Malaysia Fiscal strengthening and consolidation are the focus of Malaysia’s 2024 budget. To widen the revenue base, reduce expenditures and address the RM1.5 trillion (US$319.6 billion) national debt — which currently stands at 82 per cent of the GDP — Malaysian Prime Minister Anwar Ibrahim’s administration is introducing new taxes and targeted subsidies. In contrast to the October 2023 budget, the supply bill emphasises boosting Malaysia’s globally competitive industries — specifically manufacturing, halal goods and services, Islamic finance and foreign investment . Foreign investment is expected to receive additional support as Malaysia implements the Comprehensive and Progressive Trans-Pacific Partnership Agreement and its New Industrial Master Plan . But the budget’s design also points to serious roadblocks in achieving further fiscal reform. Contradictory policies undercut the budget ’s goal of keeping expenditures in check without sacrificing socioe...

Author: Maximilien Xavier Rehm, Doshisha University During a recent speech , Japanese Prime Minister Fumio Kishida outlined his primary policy priority in simple terms — ‘economy, economy, economy’. Notably absent was any mention of foreign workers and their role in sustaining Japan’s future economic development. This is surprising, given the well-documented need to further increase the foreign workforce, which has already reached record highs in 2023. In 2022, the Japan International Cooperation Agency outlined that Japan would need over 6.7 million foreign workers by 2040 to maintain an economic output aligned with the government’s GDP growth targets. This represents a roughly four-fold increase from current levels. Kishida re-started the large-scale admission of foreign workers in Spring 2022 , following a relaxation of pandemic-related border restrictions . Yet, he has been hesitant to outline a broader vision for the long-term admittance and potential integration of migrant ...

Author: Mohammad Yunus, Khon Kaen University Indonesia faces a pressing environmental crisis. Growing anthropogenic pressures and declining environmental carrying capacity have contributed to the emergence of various ecological disasters, which have triggered social and economic crises. There has been a surge in severe fires across the country. In the past, uncontrolled burning has led to toxic haze covering not only Indonesia but also neighbouring Malaysia, Singapore and as far as southern Thailand. The fires in 2015 were estimated to cost US$16.1 billion in losses, while the 2019 fires caused economic losses of US$5.2 billion . Flooding is another serious concern , particularly in low-lying areas with limited water absorption capacity. Air pollution is also a growing issue, especially in Indonesia’s urban centres. The proliferation of motor vehicles in cities has resulted in increased emissions of exhaust gases and particulates, while industrial combustion has produced seconda...

Author: Ha Hai Hoang, Hanoi National University of Education The European Union has released new trade policies and requirements for exporting textiles to the EU market — policies that have been accused of trade protectionism. Among them, the June 2022 EU Strategy for Sustainable and Circular Textiles (EUSSCT) is likely to significantly impact East Asian textile makers, who supply over 70 per cent of the European Union’s textiles. Within the EUSSCT, a series of environmental regulations stipulate that by 2030, companies trading clothing and apparel with the European Union must adhere to standards regarding durability, the absence of hazardous substances and the predominant use of recyclable materials. This strategy is expected to serve as the foundational plan for the evolution towards more sustainable consumption of clothing and apparel by EU member states. In doing so, the European Union could be a pioneer in enforcing its commercial partners to adopt sustainable manufacturing. ...

Author: Rena Sasaki, John Hopkins University In a report on the Indo-Pacific Tilt, the UK House of Commons Foreign Affairs Committee stated that there would be greater technology and security benefits if Japan joined its Strand B, or Pillar 2, cooperation in the development of advanced military technologies and increased interoperability between AUKUS members’ armed forces. The committee’s report calls for the United Kingdom to propose to Australia and the United States that Japan, along with South Korea, participate in an AUKUS technical defence cooperation agreement focused solely on Strand B activities. Strand B designates cooperation in advanced technology areas, including undersea capabilities, quantum technologies, artificial intelligence, advanced cyber, hypersonic weapons, electronic warfare, innovation and information sharing. These advanced capabilities are critical in reinforcing the integrated deterrence capabilities of the United States’ Indo-Pacific allies, including...

Author: Enze Han, HKU While many have expressed disappointment with the limited attention from the West regarding Myanmar’s political crisis, it is especially surprising that Myanmar’s neighbouring countries did not exhibit more interest. A perusal of Chinese newspapers — Myanmar’s most substantial neighbour — reveals scant coverage of the Myanmar population’s distress and the resistance forces opposing the military junta — the State Administration Council (SAC). This media oversight is not a coincidence. Politically speaking, the Chinese government may be apprehensive of its citizens drawing parallels or being influenced by Myanmar’s democratic struggles , especially in an era where information spreads rapidly across digital platforms. In a heavily censored information environment, Beijing is not interested in providing news coverage about the violence inflicted by the SAC on its citizens or footage of armed rebellions by ethnic armed organisations (EAOs) and the People’s Defen...

Author: Gary Clyde Hufbauer, PIIE The transition to electric vehicles (EVs) promises massive dislocation. Conventional cars have twice as many parts as electric vehicles, translating into far fewer assembly hours. Striking for wages and security against Detroit’s ‘Big Three’ car manufacturers, the United Auto Workers trade union claims that the transition endangers 35,000 jobs among its 150,000 members. Meanwhile, upstart firms, exemplified by Tesla, Rivian and SK On, are hiring non-union workers from outside the established industry, while Ford and its counterparts are building EV and battery plants in right-to-work states outside the United Auto Workers’ purview . On top of these disruptions comes the threat of new competition from Chinese automakers. The US government wants two-thirds of new cars sold in 2032 to be electric. The European Union is even more ambitious, wanting all new cars sold to be electric from 2035. But neither want to import EVs from China. Yet with generou...