Financial reform is one of the key priorities identified at the Third Plenum in November while state-owned enterprises got little mention.  But will financial reform possibly lead to a fundamental reform of state-owned companies?

Nicholas R. Lardy, Anthony M. Solomon Senior Fellow, joined the Peterson Institute for International Economics in March 2003. Previously, he was a senior fellow in the Foreign Policy Studies Program from 1995 until 2003. Before Brookings, he served at the University of Washington, where he was the director of the Henry M. Jackson School of International Studies from 1991 to 1995. From 1997 through the spring of 2000, he was also the Frederick Frank Adjunct Professor of International Trade and Finance at the Yale University School of Management. He is an expert on Asia, especially the Chinese economy.

Lardy is a member of the Council on Foreign Relations and is a member of the editorial boards of the China Quarterly, Journal of Asian Business,China Review, and China Economic Review. He received his BA from the University of Wisconsin in 1968 and his PhD from the University of Michigan in 1975, both in economics.

This event is co-sponsored with CEAS and is part of the China under Xi Jinping series.

Ambassador Bosworth looks back on a career spanning five decades and foreign service assignments in Panama, Madrid, Paris, Tunis, Manila, Seoul and Washington.  Drawing on his involvement in issues ranging from control of the Panama Canal to the Arab oil embargo, North Korea's nuclear weapons program, the Asian financial crisis, the end of the Marcos regime in the Philippines, and how to deal with the opportunities and challenges of the rise of China, Bosworth tries to identify some basic principles and guidelines for the conduct of American foreign policy and relates stories about his personal experiences with leaders foreign and domestic.

Stephen W. Bosworth is a Senior Fellow at The Belfer Center for Science and International Affairs at the John F. Kennedy School of Government, Harvard University.  He is also the Chairman of the U.S.-Korea Institute at the Johns Hopkins University Paul H. Nitze School of Advanced International Studies (SAIS).  From 2001-2013, he served as Dean of The Fletcher School of Law and Diplomacy at Tufts University, where he now serves as Dean Emeritus.  He has also served as the United States Ambassador to the Republic of Korea from 1997-2001.

From 1995-1997, Mr. Bosworth was the Executive Director of the Korean Peninsula Energy Development Organization [KEDO], an inter-governmental organization established by the United States, the Republic of Korea, and Japan to deal with North Korea.  Before joining KEDO, he served seven years as President of the United States Japan Foundation, a private American grant-making institution.  He also taught International Relations at Columbia University’s School of International and Public Affairs from 1990 to 1994.  In 1993, he was the Sol Linowitz Visiting Professor at Hamilton College.  He has co-authored several studies on public policy issues for the Carnegie Endowment and the Century Fund, and, in 2006, he co-authored a book entitled Chasing the Sun, Rethinking East Asian Policy.

A public reception will follow the seminar in the Encina Hall Lobby.

By any measure, China’s economy and defense budget are second only to those of the United States. Yet tremendous uncertainties persist concerning China’s military development and national trajectory, and areas with greater information available often conflated misleadingly. Fortunately, larger dynamics elucidate both areas. Particularly since the 1995-96 Taiwan Strait Crisis, China has made rapid progress in aerospace and maritime development, greatly facilitating its military modernization. The weapons and systems that China is developing and deploying fit well with Beijing’s geostrategic priorities. Here, distance matters greatly: after domestic stability and border control, Beijing worries most about its immediate periphery, where its unresolved disputes with neighbors and outstanding claims lie primarily in the maritime direction. Accordingly, while it would vastly prefer pressuring concessions to waging war, China is already capable of threatening potential opponents’ military forces should they intervene in crises over islands and maritime claims in the Yellow, East, and South China Seas and the waterspace and airspace around them. Far from mainland China, by contrast, it remains ill-prepared to protect its own forces from robust attack. Fortunately for Beijing, the non-traditional security focus of its distant operations makes conflict unlikely; remedying their vulnerabilities would be difficult and expensive. Despite these larger patterns, critical unknowns remain concerning China’s economic development, societal priorities, industrial efficiency, and innovation capability. Dr. Erickson will examine these and related issues to probe China’s development trajectory and future place in the international system. 

The views expressed by Dr. Erickson are his alone, and do not represent the policies or estimates of any organization with which he is affiliated.

Dr. Andrew S. Erickson is an Associate Professor in the Strategic Research Department at the U.S. Naval War College and a core founding member of the department’s China Maritime Studies Institute (CMSI). He is an Associate in Research at Harvard University’s John King Fairbank Center for Chinese Studies (2008-). Erickson also serves as an expert contributor to the Wall Street Journal’s China Real Time Report (中国实时报), for which he has authored or coauthored 25 articles. In spring 2013, he deployed in the Pacific as a Regional Security Education Program scholar aboard USS Nimitz (CVN68), Carrier Strike Group 11.

Erickson received his Ph.D. and M.A. in international relations and comparative politics from Princeton University and graduated magna cum laude from Amherst College with a B.A. in history and political science. He has studied Mandarin in the Princeton in Beijing program at Beijing Normal University’s College of Chinese Language and Culture and Japanese language, politics, and economics in the year-long Associated Kyoto Program at Doshisha University.

Erickson’s research, which focuses on Asia-Pacific defense, international relations, technology, and resource issues, has been published widely in English- and Chinese-language edited volumes and in such peer-reviewed journals as China Quarterly, Asian Security, Journal of Strategic Studies, Orbis, Asia Policy (forthcoming January 2014), and China Security; as well as in Foreign Affairs, The National Interest, The American Interest, Foreign Policy, Joint Force Quarterly, China International Strategy Review (published in Chinese-language edition, forthcoming in English-language edition January 2014), and International and Strategic Studies Report (Center for International and Strategic Studies, Peking University). Erickson has also published annotated translations of several Chinese articles on maritime strategy. His publications are available at <www.andrewerickson.com> and <www.chinasignpost.com>.

This event is co-sponsored with CEAS and is part of the China under Xi Jinping series.

ABOUT THE SPEAKER:

Shiri Krebs is a JSD Candidate at Stanford Law School, specializing in international criminal and humanitarian law. She was recently awarded the Christiana Shi Stanford Interdisciplinary Graduate Fellowship in International Studies, and was also named the Zukerman Fellow, and Law and International Security Predoctoral Fellow at Stanford Center on International Security and Cooperation (CISAC).

Her doctoral dissertation focuses on war crimes investigations and fact-finding during armed conflicts. This interdisciplinary research project combines theories and methods from law, psychology, sociology and political science, including online survey experiments.

From 2005 to 2010 Shiri served as legal advisor on international law matters in the Chief-Justice's chambers, the Israeli Supreme Court. During that time she has taught public international law at the Hebrew University of Jerusalem, a teaching assistantship which granted her the Dean's award for excellent junior faculty members, as well as 'best teacher' award. After leaving the Supreme Court, Shiri joined the Israeli Democracy Institute as a researcher, working on 'Terrorism and Democracy' projects, and publishing frequent op-eds in various newspapers and blogs.

In September 2010 Shiri started her graduate studies at Stanford Law School. Her Masters thesis - an empirical analysis of preventive detention cases - was presented in several international conferences and has won the Steven M. Block Civil Liberties Award. 

In 2012, while working on her dissertation, Shiri was appointed as a Teaching Scholar at Santa Clara University School of Law, teaching international criminal law and international humanitarian law. She is currently serving as a Teaching Assistant for CISAC's Interschool Honors Program in International Security Studies.

ABOUT THE TOPIC: Key human rights instruments and leading scholars argue that minority language rights should be treated as human rights, both because language is constitutive of an individual’s cultural identity and because linguistic pluralism increases diversity. These treaties and academics assign the value of linguistic pluralism in diversity. But, this paper demonstrates, major human rights courts and quasi-judicial institutions are not, in fact, prepared to force states to swallow the dramatic costs entailed by a true diversity-protecting regime. Outside narrow exceptions or a path dependent national-political compromise, these enforcement bodies continuously allow the state to actively incentivize assimilation into the dominant culture and language of the majority. The minority can still maintain its distinct language, but only at its own cost. The slippage between the promise of rights and their actual interpretation carries some important political and economic benefits, but the resulting legal outcome does not provide the robust protection of diversity to which lip service is paid.  Importantly, the assimilationist nature of the jurisprudence is not indifferent to human rights. However, instead of advancing maximal linguistic diversity as a preeminent norm, the regime that is applied by judicial bodies supports a different set of human rights, those protecting linguistic minorities from discrimination, and promoting equal access of the group to market and political institutions.  The result is a tension between two human rights values: pluralism and equality.

ABOUT THE SPEAKER: Moria Paz is a Law and International Security Fellow at CISAC. She was an affiliate at CISAC from February 2012-July 2013. Before joining CISAC, she was a Lecturer at Stanford Law School and the Teaching Fellow of the Stanford Program for International Legal Studies (SPILS). Her current research examines issues of state control and freedom of movement through the entry point of travel documents. Earlier work examined the intersection between minorities, language rights, and international law. Moria received her S.J.D. degree from Harvard Law School. While at Harvard, she was awarded a number of fellowships, including at the Hauser Center for Non-Profit Organizations, The European Law Research Center, and the Weatherhead Center for International Affairs.

Over the past 35 years of the reform period Beijing has tried to make its state-owned enterprises more efficient and competitive. In the early 1990s it adopted a strategy modeled closely on the Western corporation and the equity and debt capital markets that support its operations. But China's big SOEs have demonstrated more and more independence despite outright economic and ownership control by the government and the Communist Party. And this independence has not led to greater efficiencies or, arguably, even competitiveness. Instead the National Champions represent monopolistic economic and political power. Today China's new leadership confronts the National Champions seeking to regain control over the state's principal assets. How did this happen and what can be done to reassert Beijing's rights?  

Carl E. Walter worked in China and its financial sector for over 20 years and actively participated in many of the country’s financial reform efforts. While at Credit Suisse First Boston he played a major role in China’s groundbreaking first overseas IPO in 1992. Later at Morgan Stanley he was a member of senior management at China International Capital Corporation, China’s first and most successful investment bank. While there he supported a number of groundbreaking domestic and international stock and bond underwritings for major Chinese corporations. More recently at JPMorgan he was China Chief Operating Officer and Chief Executive Officer of its China banking subsidiary. During this time Carl helped build a pioneering domestic security, risk and currency trading operation. In his spare time he enjoyed driving his Jeep to distant provinces.

A long time resident of Beijing before his recent return to the United States, Carl is fluent in Mandarin and holds a PhD from Stanford University and a graduate certificate from Peking University. In Spring 2013, Carl returned to Stanford as a visiting scholar at the Shorenstein-Asia Pacific Research Center, FSI. He is the co-author of Red Capitalism: the fragile financial foundations of China’s extraordinary rise, which has been published in Chinese in China. His earlier book, Privatizing China: inside China’s stock markets, was also published in China and, like Red Capitalism, contributed to the government’s policy debate.

This event is co-sponsored with CEAS and is part of the China under Xi Jinping series.