Pub Date : 2025-11-04DOI: 10.1016/j.aglobe.2025.100120
Won-Ho Kim
The second Trump administration’s tariff regime has triggered a profound transformation of the global trade architecture, extending beyond traditional protectionism to a systematic dismantling of multilateral institutions. This paper examines how the collapse of trust in US trade commitments and the erosion of export-led development pathways across the Global South are catalyzing the construction of alternative institutional frameworks. Through analysis of the EU–CPTPP partnership initiative, the acceleration of Asian regionalism, and BRICS expansion, it demonstrates that states are engaging in purposeful institutional innovation rather than descending into fragmentation. The findings indicate that the coming years constitute a critical window for determining whether emerging regional arrangements evolve into inclusive multilateral alternatives or harden into competing economic blocs. Sustaining open trade in this environment will depend on building coalitions grounded in predictable, rules-based governance that move beyond reactive responses to U.S. disruption.
{"title":"US tariff policy and a transformation of global trade architecture","authors":"Won-Ho Kim","doi":"10.1016/j.aglobe.2025.100120","DOIUrl":"10.1016/j.aglobe.2025.100120","url":null,"abstract":"<div><div>The second Trump administration’s tariff regime has triggered a profound transformation of the global trade architecture, extending beyond traditional protectionism to a systematic dismantling of multilateral institutions. This paper examines how the collapse of trust in US trade commitments and the erosion of export-led development pathways across the Global South are catalyzing the construction of alternative institutional frameworks. Through analysis of the EU–CPTPP partnership initiative, the acceleration of Asian regionalism, and BRICS expansion, it demonstrates that states are engaging in purposeful institutional innovation rather than descending into fragmentation. The findings indicate that the coming years constitute a critical window for determining whether emerging regional arrangements evolve into inclusive multilateral alternatives or harden into competing economic blocs. Sustaining open trade in this environment will depend on building coalitions grounded in predictable, rules-based governance that move beyond reactive responses to U.S. disruption.</div></div>","PeriodicalId":100126,"journal":{"name":"Asia and the Global Economy","volume":"5 2","pages":"Article 100120"},"PeriodicalIF":1.5,"publicationDate":"2025-11-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145473621","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-11-03DOI: 10.1016/j.aglobe.2025.100122
Willem Thorbecke
Oil prices have been high and volatile. This paper investigates how oil prices affect Indonesian stocks. Using Hamilton’s (2014) method to decompose oil prices into portions driven by shocks to aggregate demand and to oil supply, the results indicate that demand-driven oil price increases benefit sectors such as coal and iron and steel that compete in global markets. They harm sectors such as food and consumer goods that use oil for production and depend on consumer purchasing power. Supply-driven oil price increases benefit the resource sector in Indonesia. The finding that several sectors benefit from oil price increases indicates that blanket fuel subsidies are suboptimal. The finding that many sectors suffer from oil price increases indicates that Indonesia should reduce its exposure to oil by switching to sustainable energy sources.
{"title":"How oil prices impact the Indonesian economy: Evidence from the stock market","authors":"Willem Thorbecke","doi":"10.1016/j.aglobe.2025.100122","DOIUrl":"10.1016/j.aglobe.2025.100122","url":null,"abstract":"<div><div>Oil prices have been high and volatile. This paper investigates how oil prices affect Indonesian stocks. Using Hamilton’s (2014) method to decompose oil prices into portions driven by shocks to aggregate demand and to oil supply, the results indicate that demand-driven oil price increases benefit sectors such as coal and iron and steel that compete in global markets. They harm sectors such as food and consumer goods that use oil for production and depend on consumer purchasing power. Supply-driven oil price increases benefit the resource sector in Indonesia. The finding that several sectors benefit from oil price increases indicates that blanket fuel subsidies are suboptimal. The finding that many sectors suffer from oil price increases indicates that Indonesia should reduce its exposure to oil by switching to sustainable energy sources.</div></div>","PeriodicalId":100126,"journal":{"name":"Asia and the Global Economy","volume":"5 2","pages":"Article 100122"},"PeriodicalIF":1.5,"publicationDate":"2025-11-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145473653","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-10-22DOI: 10.1016/j.aglobe.2025.100119
Nham Linh Vuong , Hung Manh Pham , Trung Tien Le , Van Chi Nguyen , Thu Hoai Thi Nguyen
The swift progression of the digital economy and the Fourth Industrial Revolution highlights the essential function of Information and Communication Technology (ICT) in the transformation of the banking sector. In emerging markets such as Vietnam, the rapid growth of digital financial services necessitates an understanding of the relationship between ICT and bank performance. This research examines the influence of ICT on the operational efficiency and profitability of 24 commercial banks in Vietnam over the period from 2011 to 2022. This study assesses the impact of ICT and its components—Information Technology Infrastructure (ITI) and Information Technology Applications (ITA)—on essential financial metrics: Return on Assets (ROA), Return on Equity (ROE), and Net Interest Margin (NIM). The methodology employs panel data regression techniques such as Pooled OLS, Fixed and Random Effects Models, Feasible Generalized Least Squares (FGLS), and the Generalized Method of Moments (GMM) to ensure robustness and address endogeneity concerns. The findings indicate that ITI has a significantly positive impact on ROA and ROE; however, the overall ICT index does not demonstrate a consistent positive relationship across models, suggesting a profitability paradox. Online payment systems enhance return on assets (ROA) while adversely impacting ROE and NIM as a result of implementation expenses and operational risks. It concludes that ICT investment can improve efficiency, but its advantages are contingent upon strategic alignment, employee readiness, and regulatory support. Policymakers and bank managers must emphasize IT infrastructure, staff training, and risk management to optimize returns from digital transformation.
{"title":"Information and communication technology as a catalyst for bank efficiency: Empirical evidence from Vietnam","authors":"Nham Linh Vuong , Hung Manh Pham , Trung Tien Le , Van Chi Nguyen , Thu Hoai Thi Nguyen","doi":"10.1016/j.aglobe.2025.100119","DOIUrl":"10.1016/j.aglobe.2025.100119","url":null,"abstract":"<div><div>The swift progression of the digital economy and the Fourth Industrial Revolution highlights the essential function of Information and Communication Technology (ICT) in the transformation of the banking sector. In emerging markets such as Vietnam, the rapid growth of digital financial services necessitates an understanding of the relationship between ICT and bank performance. This research examines the influence of ICT on the operational efficiency and profitability of 24 commercial banks in Vietnam over the period from 2011 to 2022. This study assesses the impact of ICT and its components—Information Technology Infrastructure (ITI) and Information Technology Applications (ITA)—on essential financial metrics: Return on Assets (ROA), Return on Equity (ROE), and Net Interest Margin (NIM). The methodology employs panel data regression techniques such as Pooled OLS, Fixed and Random Effects Models, Feasible Generalized Least Squares (FGLS), and the Generalized Method of Moments (GMM) to ensure robustness and address endogeneity concerns. The findings indicate that ITI has a significantly positive impact on ROA and ROE; however, the overall ICT index does not demonstrate a consistent positive relationship across models, suggesting a profitability paradox. Online payment systems enhance return on assets (ROA) while adversely impacting ROE and NIM as a result of implementation expenses and operational risks. It concludes that ICT investment can improve efficiency, but its advantages are contingent upon strategic alignment, employee readiness, and regulatory support. Policymakers and bank managers must emphasize IT infrastructure, staff training, and risk management to optimize returns from digital transformation.</div></div>","PeriodicalId":100126,"journal":{"name":"Asia and the Global Economy","volume":"5 2","pages":"Article 100119"},"PeriodicalIF":1.5,"publicationDate":"2025-10-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145361555","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-10-11DOI: 10.1016/j.aglobe.2025.100118
Swapnanil SenGupta
This paper examines the effects of unemployment and low wages on mental health in India. The analysis applies cross-sectional data from the Longitudinal Ageing Study in India (LASI), 2017–18. Seven different indicators of psychological distress are used. The relationships are estimated using the ordered polytomous logistic regression technique. Controlling for several individual characteristics, unemployed individuals are found to suffer higher odds of mental distress. Low wages increase the likelihood of higher life dissatisfaction levels. Compared to low-wage and out-of-labour-force individuals, unemployed individuals are at a higher risk of suffering psychological issues, implying that individuals do not voluntarily select unemployment over a low-paid job. The results also suggest that men are more affected by unemployment and low wages than women. These findings are largely similar to studies in Britain and Germany. In addition, the age group of 20–45, followed by 46–55, seems to be the most vulnerable to labour market outcomes.
{"title":"Beyond financial hardships: Exploring the effects of unemployment and low wages on psychological health in India","authors":"Swapnanil SenGupta","doi":"10.1016/j.aglobe.2025.100118","DOIUrl":"10.1016/j.aglobe.2025.100118","url":null,"abstract":"<div><div>This paper examines the effects of unemployment and low wages on mental health in India. The analysis applies cross-sectional data from the Longitudinal Ageing Study in India (LASI), 2017–18. Seven different indicators of psychological distress are used. The relationships are estimated using the ordered polytomous logistic regression technique. Controlling for several individual characteristics, unemployed individuals are found to suffer higher odds of mental distress. Low wages increase the likelihood of higher life dissatisfaction levels. Compared to low-wage and out-of-labour-force individuals, unemployed individuals are at a higher risk of suffering psychological issues, implying that individuals do not voluntarily select unemployment over a low-paid job. The results also suggest that men are more affected by unemployment and low wages than women. These findings are largely similar to studies in Britain and Germany. In addition, the age group of 20–45, followed by 46–55, seems to be the most vulnerable to labour market outcomes.</div></div>","PeriodicalId":100126,"journal":{"name":"Asia and the Global Economy","volume":"5 2","pages":"Article 100118"},"PeriodicalIF":1.5,"publicationDate":"2025-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145265209","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-10-04DOI: 10.1016/j.aglobe.2025.100117
Quoc Hoi Le , The Son Tung Than , Phuc Hong Hoang , Minh Nga Nguyen
This study examines the impact of state ownership on agency costs in Vietnam’s real estate industry from 2011 to 2023. Using a dual-proxy approach—Total Operating Expenses Ratio (TOER) and Total Asset Turnover (TAT)—we analyze data from 122 listed firms. Findings indicate that state ownership raises the TOER due to bureaucratic inefficiencies but also boosts TAT through state-supported resources, demonstrating a dual influence. By combining agency and institutional theories, the study reveals how Vietnam’s governance, shaped by political influences, regional differences, and corruption, impacts these effects. Policy suggestions include establishing professional boards, ensuring transparent land allocation, and implementing anti-corruption strategies to better align state goals with market efficiency. These findings aim to guide governance reforms in Vietnam and similar transitioning economies in Asia.
{"title":"State ownership’s dual impact: Agency costs in vietnam’s construction and real estate sector","authors":"Quoc Hoi Le , The Son Tung Than , Phuc Hong Hoang , Minh Nga Nguyen","doi":"10.1016/j.aglobe.2025.100117","DOIUrl":"10.1016/j.aglobe.2025.100117","url":null,"abstract":"<div><div>This study examines the impact of state ownership on agency costs in Vietnam’s real estate industry from 2011 to 2023. Using a dual-proxy approach—Total Operating Expenses Ratio (TOER) and Total Asset Turnover (TAT)—we analyze data from 122 listed firms. Findings indicate that state ownership raises the TOER due to bureaucratic inefficiencies but also boosts TAT through state-supported resources, demonstrating a dual influence. By combining agency and institutional theories, the study reveals how Vietnam’s governance, shaped by political influences, regional differences, and corruption, impacts these effects. Policy suggestions include establishing professional boards, ensuring transparent land allocation, and implementing anti-corruption strategies to better align state goals with market efficiency. These findings aim to guide governance reforms in Vietnam and similar transitioning economies in Asia.</div></div>","PeriodicalId":100126,"journal":{"name":"Asia and the Global Economy","volume":"5 2","pages":"Article 100117"},"PeriodicalIF":1.5,"publicationDate":"2025-10-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145265208","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-09-30DOI: 10.1016/j.aglobe.2025.100116
Segu Oh , Seonggwuen Hwang
The Fourth Industrial Revolution is reshaping global value chains (GVCs), creating new strategic imperatives for export-oriented small and medium-sized enterprises (SMEs). This study elucidates how technology adoption translates into enhanced export performance for Korean SMEs. Drawing on survey data from 131 Korean export SMEs, we test a comprehensive model using Partial Least Squares Structural Equation Modelling (PLS-SEM). The findings reveal a sequential pathway: Fourth Industrial Revolution technology adoption significantly enhances firms' 'Digital Trade Capability,' which drives 'GVC Upgrading' across products, processes, and functions. Crucially, Digital Trade Capability has no direct effect on Export Performance, with its impact being fully mediated by GVC Upgrading—the single most powerful predictor of export success. This indicates that for SMEs, mere possession of digital capabilities is insufficient; these capabilities must be strategically leveraged to actively upgrade the firm's GVC position. Our findings provide critical insights for managers navigating digital transformation and policymakers shaping industrial strategy.
{"title":"How does digital capability translate into export performance?: The critical mediating role of GVC upgrading","authors":"Segu Oh , Seonggwuen Hwang","doi":"10.1016/j.aglobe.2025.100116","DOIUrl":"10.1016/j.aglobe.2025.100116","url":null,"abstract":"<div><div>The Fourth Industrial Revolution is reshaping global value chains (GVCs), creating new strategic imperatives for export-oriented small and medium-sized enterprises (SMEs). This study elucidates how technology adoption translates into enhanced export performance for Korean SMEs. Drawing on survey data from 131 Korean export SMEs, we test a comprehensive model using Partial Least Squares Structural Equation Modelling (PLS-SEM). The findings reveal a sequential pathway: Fourth Industrial Revolution technology adoption significantly enhances firms' 'Digital Trade Capability,' which drives 'GVC Upgrading' across products, processes, and functions. Crucially, Digital Trade Capability has no direct effect on Export Performance, with its impact being fully mediated by GVC Upgrading—the single most powerful predictor of export success. This indicates that for SMEs, mere possession of digital capabilities is insufficient; these capabilities must be strategically leveraged to actively upgrade the firm's GVC position. Our findings provide critical insights for managers navigating digital transformation and policymakers shaping industrial strategy.</div></div>","PeriodicalId":100126,"journal":{"name":"Asia and the Global Economy","volume":"5 2","pages":"Article 100116"},"PeriodicalIF":1.5,"publicationDate":"2025-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145219110","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-09-29DOI: 10.1016/j.aglobe.2025.100115
Zebo Kuldasheva, Maaz Ahmad
Female labor force participation plays a significant role in driving the economic development of a country across various sectors. The previous literature suggests that increasing female labor force participation contributes to economic growth, the sector-specific impact remains unclear. The current study addresses this gap by analyzing female employment at both aggregate and sectoral levels, focusing on agriculture, industry, and services—on the economic growth of Central Asian economies from 1995 to 2022. Using a combination of regression techniques—including pooled OLS, fixed effects, and random effects models—and dynamic analytical approaches, the study addresses key issues of reverse causality and endogeneity through the adoption of the system GMM model. In addition, this study uses stationarity tests, including the Breitung and Das, IPS, and Pesaran tests, which reveal a mixed order of integration. The results of regression analysis show that total female labor force participation positively contributes to economic growth, while corruption negatively affects it. Sector-specific analysis result reveals that female participation in agriculture and services significantly enhances economic growth, whereas participation in the industrial sector has a detrimental impact. These results highlight the essential need for targeted policies to improve female labor force participation in high-growth sectors, mitigate the negative effects in the industrial sector, and address corruption. The study offers valuable insights into the role of female labor force participation in shaping economic growth in Central Asia.
{"title":"Empowering economic growth through female labor force participation in central Asia: Evidence from regression and dynamic analyses","authors":"Zebo Kuldasheva, Maaz Ahmad","doi":"10.1016/j.aglobe.2025.100115","DOIUrl":"10.1016/j.aglobe.2025.100115","url":null,"abstract":"<div><div>Female labor force participation plays a significant role in driving the economic development of a country across various sectors. The previous literature suggests that increasing female labor force participation contributes to economic growth, the sector-specific impact remains unclear. The current study addresses this gap by analyzing female employment at both aggregate and sectoral levels, focusing on agriculture, industry, and services—on the economic growth of Central Asian economies from 1995 to 2022. Using a combination of regression techniques—including pooled OLS, fixed effects, and random effects models—and dynamic analytical approaches, the study addresses key issues of reverse causality and endogeneity through the adoption of the system GMM model. In addition, this study uses stationarity tests, including the Breitung and Das, IPS, and Pesaran tests, which reveal a mixed order of integration. The results of regression analysis show that total female labor force participation positively contributes to economic growth, while corruption negatively affects it. Sector-specific analysis result reveals that female participation in agriculture and services significantly enhances economic growth, whereas participation in the industrial sector has a detrimental impact. These results highlight the essential need for targeted policies to improve female labor force participation in high-growth sectors, mitigate the negative effects in the industrial sector, and address corruption. The study offers valuable insights into the role of female labor force participation in shaping economic growth in Central Asia.</div></div>","PeriodicalId":100126,"journal":{"name":"Asia and the Global Economy","volume":"5 2","pages":"Article 100115"},"PeriodicalIF":1.5,"publicationDate":"2025-09-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145219112","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-09-25DOI: 10.1016/j.aglobe.2025.100113
Jalel Ben Haj Rehaiem
Dr. Jalel Ben Haj Rehaiem, Three-time Fulbrighter, three-time Awardee from the United States State Department upon completion of THREE Fulbright programs, an alumnus of the Graduate School of Public and international Affairs (GSPIA), the University of Pittsburgh (1997/98), Fulbright Scholar-in-Residence in North Central College, Naperville, Chicago (2005/2006), Japan Foundation Fellow (2008), International Research Collaborator with ARENA, Tsukuba University, Tokyo.
Dr. Rehaiem is currently a Scholar-in-residence on US foreign policy in East Asia at Riytadh University, KSA.
Dr. Rehaiem is also an International News Media Consultant with a panoply of international News Stations in THREE languages- English, French, Arabic: My YouTube Channel.
Dr. Rehaiem is also an International News Media Consultant with a panoply of international News Stations in THREE languages- English, French, Arabic: My YouTube Channel:
Jalel Ben Haj Rehaiem博士，三次获得富布莱特奖，三次获得美国国务院颁发的富布莱特奖，匹兹堡大学公共与国际事务研究生院（GSPIA）校友（1997/98），芝加哥内珀维尔北中央学院富布莱特学者（2005/2006），日本基金会研究员（2008），东京筑波大学ARENA国际研究合作者。他目前是沙特利雅得大学美国东亚外交政策的驻校学者。Rehaiem也是一名国际新闻媒体顾问，拥有三种语言的国际新闻台-英语，法语，阿拉伯语：My YouTube频道。Rehaiem也是一名国际新闻媒体顾问，拥有三种语言的国际新闻台-英语，法语，阿拉伯语：我的YouTube频道：（https://www.youtube.com/channel/UCHcrbomHh-mgnCrx7ouWlaA） also:（https://www.youtube.com/watch?v = s4QmDm0dGmg）。
{"title":"The China-Taliban old-new connection: The BRI, above and beyond","authors":"Jalel Ben Haj Rehaiem","doi":"10.1016/j.aglobe.2025.100113","DOIUrl":"10.1016/j.aglobe.2025.100113","url":null,"abstract":"<div><div>Dr. Jalel Ben Haj Rehaiem, Three-time Fulbrighter, three-time Awardee from the United States State Department upon completion of THREE Fulbright programs, an alumnus of the Graduate School of Public and international Affairs (GSPIA), the University of Pittsburgh (1997/98), Fulbright Scholar-in-Residence in North Central College, Naperville, Chicago (2005/2006), Japan Foundation Fellow (2008), International Research Collaborator with ARENA, Tsukuba University, Tokyo.</div><div>Dr. Rehaiem is currently a Scholar-in-residence on US foreign policy in East Asia at Riytadh University, KSA.</div><div>Dr. Rehaiem is also an International News Media Consultant with a panoply of international News Stations in THREE languages- English, French, Arabic: My YouTube Channel.</div><div>Dr. Rehaiem is also an International News Media Consultant with a panoply of international News Stations in THREE languages- English, French, Arabic: My YouTube Channel:</div><div>(<span><span>https://www.youtube.com/channel/UCHcrbomHh-mgnCrx7ouWlaA</span><svg><path></path></svg></span>) ALSO: (<span><span>https://www.youtube.com/watch?<em>v</em> = s4QmDm0dGmg</span><svg><path></path></svg></span>).</div></div>","PeriodicalId":100126,"journal":{"name":"Asia and the Global Economy","volume":"5 2","pages":"Article 100113"},"PeriodicalIF":1.5,"publicationDate":"2025-09-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145157602","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-09-22DOI: 10.1016/j.aglobe.2025.100114
Bernard Hoekman
The international trade order is under unprecedented pressure as a result of the unilateral decision by the Trump administration to increase U.S. tariffs by an order of magnitude to 15- 20 percent or higher on imports from most countries. This paper reflects on where the global trading system may be heading given recent events, focusing on potential responses by U.S. trading partners, distinguishing between revitalization of multilateral trade cooperation in the WTO, expansion and deepening of preferential trade agreements and issue- or domain-specific plurilateral agreements among groups of economies.
{"title":"Plurilateral cooperation in response to aggressive unilateralism?","authors":"Bernard Hoekman","doi":"10.1016/j.aglobe.2025.100114","DOIUrl":"10.1016/j.aglobe.2025.100114","url":null,"abstract":"<div><div>The international trade order is under unprecedented pressure as a result of the unilateral decision by the Trump administration to increase U.S. tariffs by an order of magnitude to 15- 20 percent or higher on imports from most countries. This paper reflects on where the global trading system may be heading given recent events, focusing on potential responses by U.S. trading partners, distinguishing between revitalization of multilateral trade cooperation in the WTO, expansion and deepening of preferential trade agreements and issue- or domain-specific plurilateral agreements among groups of economies.</div></div>","PeriodicalId":100126,"journal":{"name":"Asia and the Global Economy","volume":"5 2","pages":"Article 100114"},"PeriodicalIF":1.5,"publicationDate":"2025-09-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145121023","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-09-13DOI: 10.1016/j.aglobe.2025.100112
John XXV Paragas Lambino
This paper examines the origins, evolution, and emerging trends in Japan’s international cooperation, focusing on its Official Development Assistance (ODA) and the newer Official Security Assistance (OSA). While initially aimed at diplomatic normalization, Japan’s approach has consistently aligned with economic interests, evolving into a strategic tool to elevate its global stature and recently toward national security in response to a more volatile geopolitical landscape. This strategic recalibration not only serves Japan’s security interests but also supports economic revitalization, particularly through defense-related industries. Despite this shift, Japan continues to promote human security, emphasizing dignity and freedom from fear and want. Looking ahead, its cooperation is likely to be shaped by two trajectories: one shaped by security imperatives, the other by human security values. These dual trajectories reveal a dynamic of mutual appropriation—where each agenda leverages elements of the other to further its own aims—and underlying tension between their respective priorities.
{"title":"Japan’s international cooperation from ODA to OSA—Origins, evolution, and emerging trends","authors":"John XXV Paragas Lambino","doi":"10.1016/j.aglobe.2025.100112","DOIUrl":"10.1016/j.aglobe.2025.100112","url":null,"abstract":"<div><div>This paper examines the origins, evolution, and emerging trends in Japan’s international cooperation, focusing on its Official Development Assistance (ODA) and the newer Official Security Assistance (OSA). While initially aimed at diplomatic normalization, Japan’s approach has consistently aligned with economic interests, evolving into a strategic tool to elevate its global stature and recently toward national security in response to a more volatile geopolitical landscape. This strategic recalibration not only serves Japan’s security interests but also supports economic revitalization, particularly through defense-related industries. Despite this shift, Japan continues to promote human security, emphasizing dignity and freedom from fear and want. Looking ahead, its cooperation is likely to be shaped by two trajectories: one shaped by security imperatives, the other by human security values. These dual trajectories reveal a dynamic of mutual appropriation—where each agenda leverages elements of the other to further its own aims—and underlying tension between their respective priorities.</div></div>","PeriodicalId":100126,"journal":{"name":"Asia and the Global Economy","volume":"5 2","pages":"Article 100112"},"PeriodicalIF":1.5,"publicationDate":"2025-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145049361","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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