Great Power Competition and Middle Power Strategies: Economic Statecraft in the Asia-Pacific Region (The Political Economy of the Asia Pacific)

✍ Scribed by Vinod K. Aggarwal (editor), Margaret A. T. Kenney (editor)

• Publisher: Springer
• Year: 2023
• Tongue: English
• Leaves: 229
• Edition: 1st ed. 2023
• Category: Library

✦ Synopsis

This edited volume addresses geo-economic strategic competition in the Indo-Pacific, exploring both the theoretical and thematic contours of this concept and issue-specific dynamics in the areas of finance, trade, energy, and technology competition. Chapters focus on the impact of renewed great power competition between Washington and Beijing in the Indo-Pacific region across these four areas. Each addresses central concerns for the future of the global economic order and offers a lens to understand interstate competition in light of the geopolitical shifts resulting from the COVID-19 pandemic. Written by an international panel of experts, this volume provides a cohesive view of the region's most pressing issues. As such, it will be relevant to scholars specializing in Indo-Pacific domestic politics and foreign policy, U.S. foreign policy, middle powers, China-U.S. relations, China-EU relations, Asia-Pacific developments, international security, international political economy, and emerging markets.

✦ Table of Contents

Preface
Contents
Contributors
Part I: Introduction
Middle Power Economic Statecraft in a World of Geoeconomic Competition
1 Introduction
2 Trends in the Global Economy
3 Geoeconomics, Economic Statecraft, and Institutional Design
4 Overview of the Empirical Chapters
5 Common Themes and Conclusions
References
Part II: U.S.-China Competition and International Institutions
Pseudo Institutions: A Comparative Analysis of China’s BRI and the US-Led B3W
1 Introduction
2 Institutions: Orthodox and Pseudo
3 Hub-and-Spoke System: BRI
4 Hub-and-Spoke System: B3W
5 Comparing the Two Hub-and-Spoke Systems
Institutional Strength
Nature
Actor Scope and Geography
Partner Size
Sector Coverage
Aggregate Monetary Value
6 Prospects for the BRI and B3W and Implications
7 Conclusion
References
Middle Powers and Institutional Design: A Case Study of the CPTPP and DEPA
1 Introduction
2 The Influence of Middle Powers
3 Institutional Design
4 Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)
Membership
Control
Scope
Flexibility
Centralization
5 Digital Economy Partnership Agreement (DEPA)
Membership
Scope
Control
Flexibility
Centralization
6 Conclusion
References
EU’s Geo-economic Strategy in the Indo-Pacific
1 Introduction
2 EU’s Policies in the Indo-Pacific
3 EU’s Multilevel Governance in External Actions
4 EU’s Geo-Economic Strategy and the Principled Pragmatism Maneuver in the Indo-Pacific
5 Conclusion
References
Part III: East Asian Economic Statecraft
Between Big Push (Quantity) and Bankability (Quality): Geoeconomics of Infrastructure Financing in the Indo-Pacific
1 Introduction
2 Infrastructure Investment, Development Finance, and De-Risking
3 Infrastructure Investment by Japan and China: A Road to BRI and PQI in the Indo-Pacific
4 Economics and Politics of Infrastructure Funding
Funding China’s BRI
Transformation of Japan’s Infrastructure Financing
Quality Cum Bankability
5 Conclusion
References
Geo-economics of the Chinese Shipping Industry: Building Maritime Commercial Power from Bust to Boom, 2008–2021
1 Introduction: A Tale of Divergent Crisis Responses
2 Geo-economics of the Chinese Shipping Industry
PRC as a Maritime Commercial Power
Riding the Wave of Industry Consolidation
The Rise of the Chinese Shipping Industry Since 2000
3 Directing Traffic: Managing Container Shipping Bottlenecks, 2020–2021
COVID-19 Impact: Shortages and Misplacement of Vessels and Containers
Chinese State Intervention
Impact of Container Traffic on the Allocation of Shipping Capacities in Asia
US Exporters Left High and Dry
4 In a Holding Pattern? Directions for Further Research
References
Part IV: Middle Power Case Studies
The US-China Strategic Competition and Korea’s Economic Statecraft: Combining Bilateral and Regional Strategies
1 Introduction
2 The US-China Strategic Competition and Korea’s Strategic Ambiguity
The Origins of Strategic Ambiguity in Korea
Hedging Between the United States and China
The Restructuring of Supply Chains and the “China+α” Strategy
The Korea-US Alliance and Cooperation with Like-Minded Countries
3 Korea’s Regional Strategy as Economic Statecraft
4 Conclusion
References
Vietnamese Geoeconomics in a Polarized Global Economy: Understanding Bamboo Diplomacy and Its Viability
1 Introduction
2 Vietnam’s Emergence in the Intensification of World Polarization
3 Statecraft of Emerging Regional Middle Powers
4 A Three-Force Framework for Understanding the Regional Middle Power Concepts
Spatial Proximity
Historical Heritage and the Kinship System
External Driving Forces
5 Vietnam’s Statecraft in the Three-Factor Framework
Spatial Proximity: The Chinese Factor
Historical Heritage and the Kinship System: The Chinese Factor, Again
External Factors: Dualism in a Polarized World
6 Middle Power as a Good International Citizenship: Vietnam and Other Asian Nations
7 Discussion: The Viability of the Bamboo Diplomacy
8 Conclusion
References
Establishing Multilateral and Regional Rules on Digital Trade: The Role of Japan and Middle Powers
1 Introduction
2 Divergent Approaches to Data Governance in China and Emerging Economies
3 The Formation of a Multilateral and Regional Digital Trade Rule
The Formation of Regional Digital Trade Rules
Formation of Rules on Digital Trade in the Asia-Pacific and Indo-Pacific Region
4 Conclusion
References
South Korea’s Renewable Energy Odyssey: A Failed Attempt at Carbon-Neutral Growth Without Nuclear Energy
1 Introduction
2 South Korea’s Energy Mix Policy, Past and Present
3 A Nuclear-Free, Renewable Moonland
4 Making Nuclear Power Unrenewable
5 Conclusion
References