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South Korean President Park Geun-hye visited the United States this May for the first time since taking office in February. Stanford experts weigh in on the future of U.S.-Korea relations.
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Speaker John Boehner meets with Park Geun-hye, president of the Republic of Korea, prior to her address to a joint meeting of Congress. May 8, 2013. | Official Photo by Bryant Avondoglio
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Please note date change to June 6

On December 16, 2012, Japan’s Liberal Democratic Party (LDP), which was swept from power in 2009 by the Democratic Party of Japan (DPJ) after more than half a century of dominance, roared back with a landslide of its own. Entering the election with only 118 of 480 seats in the House of Representatives, the lower house of the National Diet, the LDP emerged with a whopping 294 seats, more than a third of them captured by first-time candidates. Moreover, the LDP and its long-time coalition partner, the Komeito, jointly surpassed the two-thirds threshold needed to override vetoes from the upper house, the House of Councillors, where the coalition lacks a majority—at least until the upper house election this July. The incumbent DPJ, which had taken power with an even more impressive 308 seats in 2009, retained just 57 seats this time, barely managing second place after three difficult years in government.

How did the LDP do it? In this presentation, Smith will highlight the key findings of two chapters on the LDP’s candidate selection and election results from the forthcoming volume, Japan Decides 2012 (Palgrave Macmillan, 2013), edited by Robert Pekkanen, Steven R. Reed, and Ethan Scheiner.

 

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Walter H. Shorenstein
Asia-Pacific Research Center
Encina Hall, Room C331
616 Serra St.
Stanford, CA 94305-6055

(650) 724-5656 (650) 723-6530
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Shorenstein Postdoctoral Fellow
Daniel_Smith_3x4.jpg PhD

Daniel M. Smith was a postdoctoral fellow at the Walter H. Shorenstein Asia-Pacific Research Center (Shorenstein APARC) during the 2012–13 academic year.

He is an expert on Japanese politics whose research interests include political parties, elections and electoral systems, candidate recruitment and selection, and coalition government. During his time at Shorenstein APARC, he will be completing a book manuscript about the causes and consequences of political dynasties in developed democracies, with a particular focus on Japan.

Smith earned his PhD and MA in political science from the University of California, San Diego, and his BA in political science and Italian from the University of California, Los Angeles. He has conducted research in Japan as a Ministry of Education, Culture, Sports, Science, and Technology research scholar at Chuo University (2006–2007), and as a Fulbright IIE dissertation research fellow at the Institute of Social Science at the University of Tokyo (2010–2011). After completing his fellowship at Shorenstein APARC, he will join the Department of Government at Harvard University as an assistant professor.

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Daniel M. Smith Shorenstein Postdoctoral Fellow, Shorenstein Asia-Pacific Research Center Speaker Stanford University
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The structure of the Chinese economy changed dramatically between 2005 and 2009.  It changed from an export-investment leading economy to a domestic-demand leading economy.  Before 2004 China was a huge factory because of its cheap and abundant labor.  After 2010 it has become a huge market because of the rapid increase of their income level.

Not only the rapid growth of China’s GDP, but the rapid increase of the number of middle-class-income people in China whose GDP per capita surpass 10 thousand USD gave Japanese companies many business chances since 2010. Even under the worst political condition between Japan and China after Senkaku territorial dispute most of Japanese companies keep increasing their investment in China because Chinese local governments are so eager to invite the investment of Japanese companies. If Japan and China can realize the normalization of Sino-Japan relations, their win-win relationship should be accelerated.

The Xi Jinping’s administration started officially in March. Chinese ordinary people’s complaint against the Chinese government seems very strong mainly because the former administration put off the resolution of many important problems including the corruption of governmental officials, environmental deterioration, economic inequality. Xi Jinping’s administration should work on these difficult problems. In such a situation it is important for China to normalize Sino-Japan relations to enhance the economic stability.

 

Kiyoyuki Seguchi is the Research Director of the Canon Institute for the Global Studies. His research focuses on the Chinese economy and relations between the United States, China and Japan. He worked for the Bank of Japan from 1982 to 2009. He was the Chief Representative of the Representative Office of BOJ in Beijing from 2006 to 2008, the international visiting fellow at RAND Corporation (Los Angeles, CA) from 2004 to 2005. He received a bachelor’s degree in economics from the University of Tokyo.

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Kiyoyuki Seguchi Research Director Speaker Canon Institute for the Global Studies
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China is indeed an intriguing potential role model for developing nations in quest of rapid economic growth and successful poverty reduction. It has not only sustained an average annual GDP growth rate of 10 percent between 1980 and 2011, it has also been extraordinarily successful at reducing poverty, taking more than 650 million people out of extreme poverty over the period. These are two extraordinary feats. It is, however, often said that China is a unique case, with few transposable lessons due to its exceptional size and past. With Sub-Saharan Africa (SSA) at a time of economic takeoff and in need of sustained growth and massive poverty reduction, finding out if at least some lessons from the Chinese experience are transposable can be a useful contribution. There are no better researchers to inform us on this than Scott Rozelle and Jikun Huang. So, what they have to say is indeed important. In what follows, let me try to qualify and extend some of the lessons they are proposing.

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Analysts at CISAC, together with the James Martin Center for Nonproliferation Studies, are playing a leading role in deriving new and timely information of global security relevance from a variety of open-source geospatial tools. These include digital virtual globes like Google Earth together with satellite imagery available from commercial vendors via cloud computing. This article describes some discoveries, by CISAC researchers and others, which have recently become possible through the use of such tools.

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With a new government now in place, what are the prospects for financial reform in China, will interest rates become market-based, will the Renminbi become convertible, will banks begin to price capital economically? The talk explores these themes and discusses some of the obstacles to change that the new government faces.
 
At its core China's financial system is all about its banks. They are the provider of capital to all sectors of the Chinese economy, whether by outright loans or acting as both underwriter and principal investor in the country's growing bond markets. They operate now, as they have always operated, within the narrow framework of interest and currency rates set not by markets but by administrative fiat. For most of their history they have acted as simple conduits of capital based on an economic blueprint contained in a central plan. Some 15 years ago the entities then called specialized banks began to be restructured into what were meant to be commercial banks modeled after international, and particularly, US best practice. The outbreak of the global financial crisis not only called into question this ongoing effort, the massive economic stimulus had the effect of washing away the past decade long effort to transform what had been policy banks into more economically-oriented commercial banks. 
 
Please click here to download the talk slides. 
 
ABOUT THE SPEAKER

Dr. Carl Walter has contributed articles to publications including Caijing, the Wall Street Journal and the China Quarterly. He is also the co-author of Red Capitalism: The Fragile Financial Foundations of China's Extraordinary Rise (2012) and Privatizing China: Inside China's Stock Markets (2005).

Dr. Walter lived and worked in Beijing from 1991 to 2011, first as an investment banker involved in the earliest SOE restructurings and overseas public listings, then as chief operation officer of China's first joint venture investment bank, China International Capital Corporation. For ten years he was JPMorgan's China chief operating officer as well as chief executive officer of its China banking subsidiary.

Dr. Walter holds a PhD in political science from Stanford University, a certificate of advanced study from Peking University and a BA in Russian Studies from Princeton University.

 

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Knight Management Center
655 Knight Way
Stanford, CA 94305

Carl Walter Speaker
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For more than thirty years, Shorenstein APARC’s Corporate Affiliates Visiting Fellows Program has offered a unique opportunity for affiliate organizations to nominate personnel to spend an academic year at the Center. Since 1982 — one year before the Center even existed — visiting fellows in the program have been sharing ideas, forming connections, and broadening perspectives, from the early years when a handful of visiting fellows were hosted at Galvez House to recent groups of close to twenty visitors each year meeting in Encina Hall’s Okimoto conference room. As a recent visiting fellow observed, “Academically, professionally, and personally, the different perceptions I have now will change the way I approach and understand my future work.”

The present cohort of visiting fellows represents organizations in China, India, Japan, and Korea, and each fellow brings years of practical experience and an international perspective that informs and enriches the intellectual exchange at the Center and at Stanford University. A majority of the current affiliate organizations have participated continuously in the program for the past five years, or even longer.

The program — ideal for mid-career managers who wish to deepen their knowledge on topics relevant to their work — has fellows participating in a structured program, which includes creating an individual research project; auditing classes; attending exclusive seminars; and visiting local companies and institutions. In addition to broadening their views through interaction with world-class scholars, visiting fellows can network with managers from different countries and corporations.

With such an array of activities, every day in the life of a visiting fellow is different, and every year differs as well. The core research goal remains constant, but the changing composition of each group — more female fellows, varied professional backgrounds, and new countries joining the mix — keeps the program exciting and unique. One of the earliest visiting fellows from one of the longest-standing affiliate organizations put it best: “Shorenstein APARC, Stanford University and, more broadly, the Silicon Valley are culturally unique, and this program offers a great opportunity to understand some of the ins and outs and different mindsets that make the region so successful.”

The wide variety of participants has possessed an equally broad range of interests. Over the past three decades, visiting fellows have pursued research on topics ranging from “The Deregulation of Telecommunications Industries in Japan and the United States” to “Northeast Asian Interdependence;” from “Corporate Governance & Energy Management” to “Advanced Tools for Complete Characterization of Biopharmaceutical Products” to “Risk Management in Large Commercial Banks in China.”

Once visiting fellows return to their home institutions, the Corporate Affiliates Program stays connected with alumni, allowing it to maintain close partnerships with not only its affiliate organizations, but also with all of the people who have passed through the program. The alumni network has grown to more than 350, with many individuals holding prominent positions in both the corporate and governmental sectors, working in countries around the world including Russia, France, Indonesia, and Australia. Recent alumni events held in locations like Seoul and Tokyo have kept the program in close contact even with those visiting fellows who came through the Center during the early years.

The Corporate Affiliates Visiting Fellows Program thrives by bringing together a diverse international group, and through the shared experiences of research and study at Stanford University. It creates long-lasting bonds and a new community — one that enriches the university and finds within itself new, constructive perspectives. Ultimately, the hope is that these experiences will over time contribute to stronger U.S.-Asia relations.



 

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» Large gallery: Highlights from Corporate Affiliates Program activities

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Over the course of a year, Corporate Affiliates visiting fellows learn about the United States, but also learn a lot from each other. Fellows from the 2011-12 academic year show their Stanford pride. Corporate Affiliates is Shorenstein APARC's longest-running program. | Rod Searcey
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Jean C. Oi was appointed to the Academic Advisory Council of the newly founded Schwarzman Scholars international scholarship program.

Oi, a political economist specializing in contemporary China, is director of the Stanford China Program, the William Haas Professor in Chinese Politics, and a senior fellow at the Freeman Spogli Institute for International Studies. She also serves as the Lee Shau Kee Director of the Stanford Center at Peking University.

The Schwarzman Scholars Program will annually support 200 students, from the United States and other countries, for a one-year master’s program at the prestigious Tsinghua University in Beijing. American financier Stephen A. Schwarzman endowed the program, which is slated to launch in 2016. FSI senior fellow and former Secretary of State Condoleeza Rice will also serve as an honorary member of the program’s Advisory Board.

“Knowledge about China is essential for the 21st century,” Oi said. “The Schwarzman Scholars Program promises to provide a much needed opportunity to bring together top graduates from around the world to gain a first-hand understanding of China’s society, economy, and politics. It is difficult to overstate the importance of such learning and friendships that will form among those who will include future leaders of the world.”

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Stanford China Program director Jean Oi. | Rod Searcey
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Speaker:    Dr. Carl E. Walter, Author of “Red Capitalism”

Moderator:  Michael Harris, President of Finance, Ambow Education

Until China began its highly successful reform effort in 1978, banks as institutions hardly existed, they were mostly a channel to provide funding to state enterprises. Yet after the economic reform in the 1980s, there was a rush of banking privatization and this enthusiasm to drive economic growth led to excessive bank lending and high rates of inflation in the 1990s. Following the Asian Financial Crisis and the collapse of Guangdong International Trust and Investment Co., a single party committee for each of the big state banks was created. The objective was to build relatively independent banking institutions with centralized management structures, thus forming special bond between the Party and Banks in China. Dr. Walter will discuss the modern evolution of China’s banks and the challenges in transiting to a more open, consumption-based model of economic development.

Carl E. Walter has worked in China′s financial sector for the past 20 years, participating in many of the country's financial reforms. He played a major role in China′s groundbreaking first overseas IPO in 1992 as well as the first listing of a state–owned enterprise on the New York Stock Exchange in 1994. He held a senior position in China′s first joint venture investment bank where he supported a number of significant domestic stock and debt underwritings for major Chinese corporations and financial institutions. More recently, he helped build one of the most successful and profitable domestic security, risk and currency trading operations for a major international investment bank. He holds a PhD from Stanford University and a graduate certificate from Beijing University.

Stanford Center at Peking University

Carl E. Walter Author of "Red Capitalism" Speaker
Michael Harris President of Finance Moderator Ambow Education
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Encina Hall
616 Serra St., 3rd floor
Stanford University
Stanford, CA 94305
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The 1950s, the period between the catastrophic Korean War (1950-1953) and Korea’s ambitious industrialization in the 1960s and 70s, has remained relatively "neglected" among historians of modern Korea. The guest speakers will present their studies of this era’s culture, intellectual climate, and politics; and discuss colonial legacy, cold war, and reconstruction in the wake of the Korean War.

Participants:

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Carter J. Eckert trained in Western ancient and medieval history at Lawrence College in Wisconsin, and also at Harvard. He subsequently developed a strong interest in Korea and East Asia as a result of his experience as a Peace Corps Volunteer in Seoul in the late 1960s and 1970s. After several years of working and studying in Korea, he returned to the United States for doctoral study in Korean and Japanese history at the University of Washington. Since 1985 he has been teaching modern Korean history at Harvard, including a popular undergraduate course called "The Two Koreas," and working to build up the Harvard Korean studies program.

Eckert is the author of a number of books and articles, including Offspring of Empire: The Colonial Origins of Korean Capitalism, and he is also a co-author of Korea Old and New: A History, a widely-used university textbook on Korean history. 

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Michael Robinson earned a PhD in history at the University of Washington in 1979. He taught at the University of Southern California for sixteen years after which he moved to Indiana University where he is a Professor of East Asian Languages and Cultures and an adjunct Professor of History. He has written extensively on the origins and evolution of Korean nationalism. His first book, Cultural Nationalism in Colonial Korea focused on nationalist ideology formation during the 1920s. More recently he has become interested in popular culture and the origins and development of modernity in Korea. With Gi-Wook Shin his Colonial Modernity in Korea examined a number of nodes of modernity appearing during the period of Japanese occupation. He has just finished a new book, Korea’s Twentieth Century Odyssey: a Short History that was published by the University of Hawaii Press in Spring 2007. He has collaborated with Jonathan Lipman and Barbara Maloney on a new text, East Asia Since 1600,  published in 2012 by Littlefield Press in London.

Robinson has worked extensively in program development at the university and national level with a special focus on Korean Studies.

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Tae Gyun Park is an Associate Professor at the Graduate School of International Studies, Seoul National University and an Advisor to Minitry of Unification in Korea. He was a Coordinate Researcher at Harvard-Yenching Institute, 2007-2008. He authored An Ally and Empire: Two Myths in Korea-U.S. Relationship (AKS Press,2012) and "Beyond the Myth: Reassessing the Security Crisis in the mid 1960s on the Korean Peninsula" (Pacific Affairs, 2009).

 

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Yumi Moon is an Assistant Professor of History at Stanford University where she has taught modern Korean history since 2007. She received her undergraduate degree and an MA in Political Science and International Relations from Seoul National University, and a PhD in East Asian Studies from Harvard University.

Moon is the author of Populist Collaborators: The Ilchinhoe and the Japanese Colonization of Korea, 1896–1910 (Cornell University Press, 2013). She is currently working on a new book tentatively titled Toward a Free State: Imperial Shift and the Formation of Post-Colonial South Korea, 1931–1950.

 

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Carter J Eckert Yoon Se Young Professor of Korean History, Dept. of East Asian Languages and Civilizations Panelist Harvard University
Michael Robinson Professor, East Asian Languages and Cultures Professor, East Asian Languages and Cultures Panelist Indiana University Indiana University
Tae Gyun Park Associate Professor, Graduate School of International Studies Associate Professor, Graduate School of International Studies Panelist Seoul National University Seoul National University
Yumi Moon Assistant Professor, Dept. of History Assistant Professor, Dept. of History Moderator Stanford University Stanford University
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