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As the new academic year gets underway, the Walter H. Shorenstein Asia-Pacific Research Center’s (Shorenstein APARC) Corporate Affiliates Program is excited to welcome its new class of fellows to Stanford University:

  • Minoru Aosaki, Ministry of Finance, Japan
  • Kazuma Fukai, Kansai Electric Power Company, Japan
  • Katsunori Hirano, Shizuoka Prefectural Government, Japan
  • Young Muk Jeon, Samsung Life Insurance, Republic of Korea
  • Yasunori Kakemizu, Sumitomo Corporation, Japan
  • Yuji Kamimai, Sumitomo Corporation, Japan
  • Hideaki Koda, Mitsubishi Electric, Japan
  • Jong Jin Lee, Samsung Electronics, Republic of Korea
  • Masami Miyashita, Ministry of Economy, Trade, and Industry, Japan
  • Prashant Pandya, Reliance Life Sciences, India
  • Ramnath Ramanathan, Reliance Life Sciences, India
  • Yoshimasa Waseda, Japan Patent Office, Japan

Corporate Affiliates Fellows are already busy auditing classes, strengthening their English skills, and beginning to conduct individual research projects. In consultation with a noted Shorenstein APARC scholar or subject expert, each fellow will refine and present their research at a public seminar in May.

Fellows will take part in other special Corporate Affiliates Program seminars and Shorenstein APARC conferences and events, affording them the opportunity to interact with faculty and students from across the Stanford community. Throughout the year, they will also gain firsthand insight into American business, everyday life, and culture by visiting numerous companies and public institutions in the San Francisco Bay Area, including: Facebook, the Palo Alto Police Department, San Francisco City Hall, and many others.

Visit the Corporate Affiliates website during the coming year for interviews with current and alumni Fellows and descriptions of various site visits.

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2011-12 class of Corporate Affiliates Fellows
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Jacob Funk Kirkegaard has been a research fellow at the Peterson Institute for International Economics since 2002 and is also a senior associate at the Rhodium Group, a New York-based research firm. Before joining the Institute, he worked with the Danish Ministry of Defense, the United Nations in Iraq, and in the private financial sector. He is a graduate of the Danish Army's Special School of Intelligence and Linguistics with the rank of first lieutenant; the University of Aarhus in Aarhus, Denmark; and Columbia University in New York.

He is author of The Accelerating Decline in America's High-Skilled Workforce: Implications for Immigration Policy (2007) and coauthor of US Pension Reform: Lessons from Other Countries (2009) and Transforming the European Economy (2004) and assisted with Accelerating the Globalization of America: The Role for Information Technology (2006). His current research focuses on European economies and reform, pension systems and accounting rules, demographics, offshoring, high-skilled immigration, and the impact of information technology.

Jacob Kierkegaard interviews on the European financial crisis can be found in the following NPR articles:

"Why European Leaders are Suddenly Backing More Bank Bailouts"

"Ireland Went Down with its Banks.  Why Didn't that Happen in the U.S.?"

"Is This Europe's 'Lehman Moment'?  Banks Don't Think So"

 
 

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Jacob Kirkegaard Research Fellow Speaker Peterson Institute for International Economics
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STANFORD, Calif.—Stanford University’s Walter H. Shorenstein Asia-Pacific Research Center (Shorenstein APARC) is pleased to announce China’s Caixin Media as the recipient of the 2011 Shorenstein Journalism Award. Caixin was selected for its commitment to integrity in journalism, and for its path-breaking role as a leader in establishing an independent media in China.

The Shorenstein Journalism Award was launched in 2002 to recognize the contributions of Western journalists in deepening our understanding of Asia. In 2011, the recipients of the award have been broadened to encompass Asian journalists who are at the forefront of the battle for press freedom in Asia and who have played a key role in constructing a new role for the media, including the growth of social media and Internet-based journalism. The award will also identify those Asian journalists who, from that side of the Pacific Ocean, have aided the growth of mutual understanding between Asia and the United States.

Asia has served as a crucible for the role of the press in democratization in places such as South Korea, Taiwan, India, Pakistan, and Indonesia. It has also figured greatly in the emergence of social media and citizen journalism. New tests of the role of the media are emerging in China, Vietnam, and other authoritarian societies in Asia. The Shorenstein Journalism Award aims to encourage the understanding of key issues facing the media in Asia, among them whether the Internet will be a catalyst for change or an instrument of authoritarian control.

The decision to name Caixin Media as the first recipient of this award in Asia is a recognition of the leadership role of a group of young journalists, led by a visionary editor, since their founding of Caijing magazine in 1998. The core group moved on in November 2009 to found Caixin Media in an effort to preserve their independence in a media environment dominated by the state in China. The company is based in Beijing and is guided by an independent advisory board of noted Chinese and foreign intellectuals and academics. The Caixin team has achieved renown for its coverage of the profound economic and social changes taking place in China and its willingness to dig into the darker corners of that change. In recent months, Caixin has probed into the errors that led to the crash of a high-speed train in China, and investigated the seizure and sale of children by family planning officials in Hunan province.

Hailed by the Economist as “one of China’s more outspoken media organizations,” Caixin is internationally recognized for its tough-minded investigative reporting. In 2011, Caixin editor-in-chief Hu Shuli was named one of Time Magazine’s Top 100 Influential People, and managing editor Wang Shuo was ranked among China’s top 10 young editors.

Caixin publishes several leading print and online publications, including the weekly business and finance magazine Caixin Century, the monthly periodical China Reform, the bimonthly journal Comparative Studies, and the English-language Caixin Weekly: China Economics and Finance. Caixin’s numerous other offerings include a Chinese- and English-language news portal Caixin.cn, a publication series, video programming, an international journalism fellowship program, and extensive use of social media.

On December 7, Hu and Wang will visit Stanford to accept the Shorenstein Journalism Award. They will participate in a daytime public panel discussion on the future of China’s independent media, joining acclaimed China historian and former Pulitzer Prize jury member Orville Schell, Shorenstein APARC associate director for research Daniel C. Sneider, and other noted Asia specialists. That evening, Hu and Wang will receive a cash prize of $10,000 during a dinner and award ceremony.

Hu’s distinguished career spans both print and broadcast journalism. She is a former Stanford Knight Journalism Fellow (1994), and, in addition to her role as Caixin’s editor-in-chief, currently serves as dean of the School of Communications and Design at Sun Yat-sen University. A recipient of the 2007 Louis Lyons Award for Conscience and Integrity in Journalism, Hu is frequently named on annual Who’s Who lists by publications such as Foreign Policy.

Wang is a former international editor for People’s Daily, a Chinese government-run newspaper published nationally. Recognized as one of the brightest rising stars in his field, Wang was named as a Young Leader in 2007 and 2008 by the Boao Forum for Asia, and as a media leader by the World Economic Forum. He has led the investigative journalism teams at Caixin.

About the Award

Established in 2002, the Shorenstein Journalism Award carries a cash prize of $10,000 and honors a journalist not only for a distinguished body of work, but also for the particular way that work has helped American readers to understand the complexities of Asia. The award was named after Walter H. Shorenstein, the philanthropist, activist, and businessman who endowed two institutions that are focused respectively on Asia and on the press: Shorenstein APARC in the Freeman Spogli Institute at Stanford University, and the Joan Shorenstein Center on the Press, Politics, and Public Policy in the Kennedy School of Government at Harvard University.

The award was originally designed to honor distinguished American journalists for their work on Asia, including veteran correspondents for leading American media such as the New York Times, the Washington Post, Newsweek, NBC News, PBS, and the Wall Street Journal. Past recipients include Stanley Karnow, Orville Schell, Don Oberdorfer, Nayan Chanda, Melinda Liu, John Pomfret, Ian Buruma, Seth Mydans, and Barbara Crossette.

Shorenstein APARC believes that it is vital to continue the Shorenstein Journalism Award, not only to honor the legacy of Walter H. Shorenstein and his twin passions for Asia and the press, but also to promote the necessity of a free and vibrant media for the future of relations between Asia and the United States. Moreover, as we have seen recently in the Middle East, a free press, not only in its traditional forms of print and broadcast but now also via the Internet and new avenues of social media, remains the essential catalyst for the growth of democratic freedom. The award is given annually based on the deliberations and decision of a distinguished jury whose members include:

Ian Buruma, the Henry R. Luce Professor of Democracy, Human Rights, and Journalism at Bard College, is a noted Asia expert who frequently contributes to publications including the New York Times, the New York Review of Books, and the New Yorker. He is a recipient of the Shorenstein Journalism Award and the international Erasmus Prize (both in 2008). 

Nayan Chanda, director of publications at the Yale Center for the Study of Globalization, served for nearly 30 years as editor, editor-at-large, and correspondent for the Far Eastern Economic Review. He was honored with the Shorenstein Journalism Award in 2005.

Susan Chira, assistant managing editor for news and former foreign editor of the New York Times, has extensive Asia experience, including serving as Japan correspondent for the Times in the 1980s. During her long tenure as foreign editor, the Times twice won the Pulitzer Prize for International Reporting (2009 and 2007).

Donald K. Emmerson, a well-respected Indonesia scholar, serves as director of Shorenstein APARC’s Southeast Asia Forum and as a research fellow for the prestigious National Asia Research Program (NARP). Frequently cited in the international media, Emmerson also contributes op-eds to leading publications such as the Asia Times.

Orville Schell is the Arthur Ross Director at the Asia Society Center on U.S.-China Relations, and is also a former jury member for the Pulitzer Prize for International Reporting. He has written extensively on China, and was awarded the 1997 George Peabody Award for producing the groundbreaking documentary the Gate of Heavenly Peace. He received the Shorenstein Journalism Award in 2003.

Daniel C. Sneider serves as the associate director for research at Shorenstein APARC and also as a NARP research associate. He frequently contributes articles to publications such as Foreign Policy, Asia Policy, and Slate and had three decades of experience as a foreign correspondent and editor for publications including the Christian Science Monitor and the San Jose Mercury News.  

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Newsstand in Shanghai, July 2010.
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Edmund J. Malesky will argue that openness to foreign investment can have differential effects on corruption, even within the same country and under the same domestic institutions over time. Rather than interpreting bribes solely as a coercive “tax” imposed on business activities, he allows for the possibility that firms may themselves be complicit in using bribes to enter protected sectors or gain access to lucrative procurement contracts.  The propensity to bribe across sectors should vary with expected profitability related to investment restrictions. Thus, the linkage of foreign investment to corruption should increase dramatically as firms seek to enter restricted and uncompetitive sectors that offer higher rents. Malesky demonstrates this effect using a nationally representative survey of 10,000 foreign and domestic businesses in Vietnam. He also shows how the impact of domestic reforms and economic openness is affected by policies that restrict competition by limiting entry into a given sector.

Edmund Malesky is an associate professor of political science at the Graduate School of International Relations and Pacific Studies at the University of California, San Diego. He has published in leading political science and economic journals, including the American Political Science Review and the Journal of Politics, and has been awarded the Harvard Academy Fellowship and Gabriel Almond Award for best dissertation in comparative politics. Malesky serves as the lead researcher for the Vietnam Provincial Competitiveness Index and Cambodian Business Environment Scorecard.

For more information please see the event web page.

Graham Stuart Lounge

Edmund J. Malesky Associate Professor, Graduate School of International Relations and Pacific Studies Speaker the University of California, San Diego
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**Due to space restrictions, this event has reached capacity and we will no longer be taking RSVPs. Please plan to arrive early as seating is on a first come, first serve basis.**

Since 2008 China's banks have made loans that approach 30% of GDP each year. The central bank has used a broader measure of credit, total societal financing, that suggests credit extended in 2011 may exceed 40% of the country's GDP. It is inevitable that such profligate lending will result in significant amounts of problem loans.  The international market is well aware of this and Chinese bank shares have been hit hard for most of this year. How will these bad loans be managed? More importantly, why has the government once again used China's ostensibly commercial banks as if they were policy banks and what are the implications of this for China's economy going forward?

Carl E. Walter worked in China and its financial sector for the past 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, as well as the first primary listing of a state-owned enterprise on the New York Stock Exchange in 1994. He was a member of senior management at China International Capital Corporation, China’s first and most successful joint venture investment bank where he supported a number of significant 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 banking subsidiary. During this time Carl helped build a pioneering domestic security, risk and currency trading operation.

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. He is the co-author of Red Capitalism: the fragile financial foundations of China’s extraordinary rise as well as Privatizing China: inside China’s stock markets

This event is part of the China's Looming Challenges series

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Carl Walter Former CEO Speaker JPMorgan Chase Bank China Co Ltd.
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The Nuclear Power Plant Exporters' Principles of Conduct are an industry code of conduct resulting from a three-year initiative to develop norms of corporate self-management in the exportation of nuclear power plants. In developing and adopting the Principles of Conduct, the world's leading nuclear power plant vendors have articulated and consolidated a set of principles that reaffirm and enhance national and international governance and oversight, and incorporate recommended best practices in the areas of safety, security, environmental protection and spent fuel management, nonproliferation, business ethics and internationally recognized systems for compensation in the unlikely event of nuclear related damage.


Speaker Biography:

Ariel (Eli) Levite is a nonresident senior associate in the Nonproliferation Program at the Carnegie Endowment. He is a member of the Israeli Inter-Ministerial Steering Committee on Arms Control and Regional Security and a member of the board of directors of the Fisher Brothers Institute for Air and Space Strategic Studies.

Prior to joining the Carnegie Endowment, Levite was the Principal Deputy Director General for Policy at the Israeli Atomic Energy Commission. Levite also served as the deputy national security advisor for defense policy and was head of the Bureau of International Security and Arms Control in the Israeli Ministry of Defense.

In September 2000, Levite took a two year sabbatical from the Israeli civil service to work as a visiting fellow and project co-leader of the "Discriminate Force" Project as the Center for International Security and Cooperation (CISAC) at Stanford University.

Before his government service, Levite worked for five years as a senior research associate and head of the project on Israeli security at the Jaffee Center for Strategic Studies at Tel Aviv University. Levite has taught courses on security studies and political science at Tel Aviv University, Cornell University, and the University of California, Davis.


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Ariel Levite Senior Associate at the Carnegie Endowment for International Peace, Former CISAC Visiting Fellow Host
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The Shorenstein Asia Pacific Research Center and the Division of International, Comparative, and Area Studies are excited to offer highly qualified Stanford students an opportunity to extend classroom knowledge of East Asia to real-life working and cultural experiences through the East Asia Internship Program. Internship positions will cover a wide spectrum of business, non-profit, media, educational, medical, technology, and government activities.
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A roof detail in a Beijing hutong, Dec. 2007.
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High School students in Palo Alto, Calif., spend more time using digital media daily than their counterparts in Beijing, but the Chinese youths are more likely to build networks online only according to a new study from Stanford University.

STANFORD GRADUATE SCHOOL OF BUSINESS — Who is more digitally switched on – high school students in Silicon Valley or Beijing?

A new study from Stanford University provides some clues. High schoolers in Palo Alto, Calif., in the heart of Silicon Valley, spend significantly more time using digital media every day than their peers at leading high schools in the Chinese capital. However, Chinese students sometimes outpace their American counterparts in embracing the latest internet technologies and building a network of online friends they have never met in person.

The Stanford Program on Regions of Innovation and Entrepreneurship (SPRIE), part of the university's Graduate School of Business, looked into the digital lives of teens in Silicon Valley and China's capital. Seventy-one high schoolers, 44 from Palo Alto and 27 from Beijing, were surveyed online earlier this month. The students, between the ages of 16 and 18, were asked about their usage of different types of consumer electronics and communications, including how much time they spent daily on a range of online activities.

While the California teens spent significantly more time than their Beijing peers using social networking sites and blogging, Beijing students spent considerably more time watching films and videos over the internet, hardly watching television at all. The Beijing teens were much more likely to have online-only friends, and more of them (44% versus 16%) touted Apple's iPad tablets than the Palo Alto respondents.

The study suggested the emergence of a "digital tribe" of teens transcending cultures and geographic borders, especially in tech hotspots such as Silicon Valley and Beijing. "In certain urban locations, today's teens are native 'netizens'," said Marguerite Gong Hancock, associate director of SPRIE. "Most teens in our survey in both Palo Alto and Beijing have had mobile phones since the age of 12. They lead a large part of their daily lives online."

The survey and other research into patterns of entrepreneurship and venture capital investment was discussed September 30 at a Stanford conference addressing the rise of the internet in China. The gathering, China 2.0: Transforming Media and Commerce organized by SPRIE, included speakers from leading internet companies in China, entrepreneurs, and venture capital investors.

In advance of the conference, SPRIE polled the high school students with the assistance of Beijing-based Danwei.org, a Beijing research and information firm. Most of the American teens attend Palo Alto High School, while most of the Beijing students go to People's University Annex High School. Forty-one females and 30 males participated.

SPRIE researchers wanted to get a snapshot of the digital lifestyle of young urban Chinese expected to shape China's technology future. "These are the influencers and early adopters," said Hancock.

China's internet population of about 485 million has already surpassed the approximately 250 million users in the United States. "Understanding the habits of the next generation of Chinese netizens is increasingly important to investors and new media companies. The 'born after 1990' generation in China will play a role in influencing global adoption of new technologies and business models" said Duncan Clark, chairman of consulting firm BDA China, and senior advisor of the China 2.0 project at SPRIE.

There were major similarities between Palo Alto and Beijing students. On weekdays, the top online activity for both was doing schoolwork, followed by using social networking sites and downloading and listening to music. On weekends among the Beijing students, schoolwork remained the leading activity, followed by social networking and web surfing. On weekends in Silicon Valley, students spent the most time on social networking sites, followed by schoolwork and music. In both countries, the teens overwhelmingly favored texting to communicate with friends, although the Beijing teens were less likely to text their parents than the Palo Alto group.

Overall, the U.S. teens spent significantly more time than their Chinese counterparts on almost all types of internet activities. The Palo Alto students spent roughly twice as long (two hours a day) on social networking sites. By contrast, the Beijing teens were much more likely to watch videos and films online.

The study suggested that teens in China rely more heavily on the internet as an emotional and social outlet. In Beijing, more than 90% of respondents said they have friends they know only over the internet. That compared with 29% in Palo Alto. "China's post-'90s single-child generation faces limited play time and heavy academic pressures. The internet enables teens to live out a whole other life online," said Clark.

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Russia will soon have another liberal ex-president. Twenty years ago this December, Mikhail Gorbachev stood in the Kremlin as the Soviet flag was lowered and replaced with the Russian tricolor. He sat down in the back seat of his limousine and was driven out the Borovitskaya gate, no longer president of the Soviet Union but instead a private citizen of the newly independent Russian Federation.

In March, Dmitry Medvedev, who has been president of Russia since 2008, will have a similar experience. He will surrender his office to his prime minister, predecessor and political patron Vladimir Putin, who after months of speculation has at last confirmed his intention to run for president on the ruling United Russia party's ticket. When Medvedev leaves office in March, he like Gorbachev will face the question of what role to play in his country's future. What becomes of a liberal ex-president in a decidedly illiberal state like Russia?

One thing is certain—Medvedev's welfare and personal security are assured as long as Putin remains in control. Medvedev has long been a close ally of Putin, and the latter is thought to have chosen him to become president in 2008 because of his unswerving loyalty. Thus, unlike former leaders in some other authoritarian states, Medvedev need not seek asylum abroad.

In fact, Medvedev has already telegraphed one likely possibility, namely that Putin's faith in him remains so great that he will continue to serve in the government, perhaps as prime minister. Putin may also define a new position for his protégé within the Russian government—for example, as chief justice of the constitutional court or in some high-profile international position, such as an ambassador at large for global security.

In any event, Medvedev's role in a future Putin-dominated government is likely to remain functionally similar to what it is today: evangelist in chief for Russia's modernization efforts, including the Skolkovo "city of innovation." Medvedev's voice could also continue to serve Putin's need for a popular lightning rod against corruption or in foreign policy as a spokesman and manager of the U.S.-Russia "reset."

If Medvedev is not given a formal appointment by his successor, he has another set of options altogether.

He can choose to follow the precedent set by Gorbachev, who also left office at a young age and well known for his liberal views—by participating selectively in political debates, possibly creating and leading a new political party or perhaps standing for office again in the next election, as Gorbachev did in 1996. Putin's predecessor and patron, Boris Yeltsin, was already in poor health when he left office in 1999, but even he spoke out occasionally on political and foreign-policy matters until his death in 2007.

Even without holding a formal office, Medvedev's voice will be influential. He could reach out to current and former political and business leaders and raise funds for favored causes. He could choose a signature initiative—most likely modernization—and create a nongovernmental organization to advance it, on the model of Gorbachev's Green Cross International or the Clinton Global Initiative. Other worthwhile causes might include combating corruption, environmental degradation, and drug and alcohol abuse, all of which cast a shadow over Russia's future.

Because he owes so much to Putin personally, Medvedev is unlikely to speak out as frankly or critically to Russian audiences about the Putin system as either Gorbachev or Yeltsin did. But he may have the opportunity to rise to a greater and more revered status internationally than he enjoyed as president if he chooses the path of ex-leaders like Vaclav Havel or Jimmy Carter, concerning himself with democratic development and human rights around the world. Even though he did not deliver perfect democracy and rule of law in his own country, the international community will surely welcome a prominent Russian voice to advocate these values.

Many outgoing presidents become obsessed with "legacy" to the point of wasting resources and political capital pursuing unrealistic or impossible goals during their last months in office. Thus far, Medvedev seems to have avoided chasing political rainbows. If anything he has refined his focus on concrete initiatives like Skolkovo and new campaigns against alcohol and tobacco use.

Perhaps Medvedev is keeping his head down, hoping that if he does not appear to threaten the system's stability, Putin will agree to keep him at the center of power, or perhaps even restore him to the presidency in 2018. Then again, maybe Medvedev has already defined his legacy and post-presidential role: offering Russians a bright vision of their country's future but accepting that the road to get there will be long and winding and that he may not himself be in the driver's seat.

Matthew Rojansky is the deputy director of the Russia and Eurasia program at the Carnegie Endowment for International Peace.

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