Carl Walter
Carl Walter joined the Walter H. Shorenstein Asia-Pacific Research Center (Shorenstein APARC) as visiting scholar with the China Program for the 2021-2022 academic year. Prior to coming to APARC, he served as independent, non-executive Director at the China Construction Bank. He was also previously a visiting scholar with APARC during the winter and spring terms of the 2012–13 academic year after a career in banking spent largely in China.
His research interests focus on China's financial system and its impact on financial and political organizations. During his time at Shorenstein APARC Walter will continue his book project on how fiscal reforms in China have impacted the banking system, the overall economy and the prospect for financial reform going forward.
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).
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. Over the last ten years he was JPMorgan's China chief operating officer as well as chief executive officer of its China banking subsidiary.
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.
China Goes Global - The Partial Power
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In China Goes Global, eminent China scholar David Shambaugh delivers the book many have been waiting for—a sweeping account of China's growing prominence on the international stage. Thirty years ago, China's role in global affairs beyond its immediate
East Asian periphery was decidedly minor and it had little geostrategic power. As Shambaugh charts, though, China's expanding economic power has allowed it to extend its reach virtually everywhere—from mineral mines in Africa, to currency markets in the West, to oilfields in the Middle East, to agribusiness in Latin America, to the factories of East Asia. Shambaugh offers an enlightening look into the manifestations of China's global presence: its extensive commercial footprint, its growing military power, its increasing cultural influence or "soft power," its diplomatic activity, and its new prominence in global governance institutions. But Shambaugh is no alarmist. In this balanced and well-researched volume, he argues that China's global presence is more broad than deep and that China still lacks the influence befitting a major world power—what he terms a "partial power."
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David Shambaugh is professor of political science and international affairs and director of the China Policy Program at George Washington University, as well as a nonresident senior fellow in the Foreign Policy Studies Program at the Brookings Institution in Washington, D.C. His most recent books include Tangled Titans: The United States and China; Charting China's Future: Domestic & International Challenges; and China's Communist Party: Atrophy & Adaptation.
**Books will be available for purchase at the talk.**
Philippines Conference Room
Historical sources of institutional trajectories in economic development: China, Japan and Korea compared
This article first provides a game-theoretic, endogenous view of institutions and then applies the idea to identify the sources of institutional trajectories of economies development in China, Japan, and Korea. It stylises the Malthusian phase of the East Asian economies as a peasant-based economies in which small conjugal families self-managed their working times between farming on small plots—leased or owned—and handcrafting for personal consumption and markets. It then compares institutional arrangements across these economies that sustained otherwise similar economies. It characterises the varied nature of the political states of Qing China, Tokugawa Japan and Yi Korea by focusing on the way agricultural taxes were enforced. It also identifies different patterns of social norms of trust that were institutional complements to, or substitutes for, the political states. Finally, it traces the path-dependent transformations of these state-norm combinations along subsequent transitions to post-Malthusian phases of economic growth in the respective economies.
A comparative institutional analysis of the Fukushima nuclear disaster: Lessons and policy implications
This paper analyzes the causes, responses, and consequences of the Fukushima nuclear power plant accident (March 2011) by comparing these with Three Mile Island (March 1979) and Chernobyl (April 1986). We identify three generic modes of organizational coordination: modular, vertical, and horizontal. By relying on comparative institutional analysis, we compare the modes' performance characteristics in terms of short-term and long-term coordination, preparedness for shocks, and responsiveness to shocks. We derive general lessons, including the identification of three shortcomings of integrated Japanese electric utilities: (1) decision instability that can lead to system failure after a large shock, (2) poor incentives to innovate, and (3) the lack of defense-in-depth strategies for accidents. Our suggested policy response is to introduce an independent Nuclear Safety Commission, and an Independent System Operator to coordinate buyers and sellers on publicly owned transmission grids. Without an independent safety regulator, or a very well established “safety culture,” profit-maximizing behavior by an entrenched electricity monopoly will not necessarily lead to a social optimum with regard to nuclear power plant safety. All countries considering continued operation or expansion of their nuclear power industries must strive to establish independent, competent, and respected safety regulators, or prepare for nuclear power plant accidents.
Muslim Politics and Popular Culture in Malaysia: PAS, Hudud, and Rock 'n' Roll
Malaysia’s 13th general election is imminent and the opposition coalition (Pakatan Rakyat) is fragile. Inside the coalition, the Pan-Malaysian Islamic Party (PAS) and the secularist Democratic Action Party have little in common. PAS itself is split along generational lines and ideologically divided between reform-oriented pragmatists and hard-line Islamists. The youth wing of PAS is increasingly vocal in accusing the party of having abandoned key principles in the “Islamic struggle.” Based on anthropological fieldwork, Dominik Müller will review how PAS Youth members are contesting the party’s future in both political and cultural terms.
In Muslim politics in Malaysia, does increasing recourse to popular culture augur an incipient “post-Islamist” turn? Young Muslim activists in PAS are using YouTube and Facebook, commercial brands, celebrity personalities, and rock music to disseminate their call to “purify the struggle” for an Islamic state or “caliphate.” Do these “secular” media dilute if not drown out the politico-religious message? Or, given their popular appeal, do they render it all the more convincing? And with what implications for Islam and politics—in Malaysia and, analogously, elsewhere in the Muslim world?
Dominik Müller obtained his doctorate summa cum laude in 2012 from Frankfurt University, where he works as a research associate in the Department of Anthropology. His dissertation on Islam, politics, and youth in Malaysia will be published in 2013. His research project at Stanford, funded by the German Academic Exchange Service (DAAD), examines patterns of socio-legal change in the Malay world.
Daniel and Nancy Okimoto Conference Room
Economic Development in Laos and Vietnam: Growth, Reform, and the WTO
The fastest growing economy in the Association of Southeast Asian Nations (ASEAN) is the Lao People's Democratic Republic. For a decade Steve Parker has been intensively involved on behalf of USAID as a resident adviser on economic and related legal reforms, first in Vietnam and for the last three years in Laos. In each country he has focused on helping the government fulfill the requirements of membership in the WTO. Vietnam joined the WTO in 2007 and Laos followed suit on 2 February 2013. He is also advising the Lao government on meeting its obligations under the ASEAN Economic Community that is scheduled for inauguration in 2015, and on implementing the 2005 U.S.-Lao PDR Bilateral Trade Agreement.
Parker will open this roundtable with some remarks on economic development and reform in the two ASEAN countries, including an assessment of the impact of WTO membership on economic development and reform—retrospectively in Vietnam, prospectively in Laos. An open discussion will follow.
In the course of his career in Asia as an economic specialist for the U.S. government and the Asia Foundation, Parker has been posted to Laos, Vietnam, Indonesia, and Japan with USAID, the ADB, and the Harvard Institute of International Development. The Southeast Asia Forum and the Stanford Center for International Development co-sponsored his last talk at Stanford in 2007: "The United States and Asia's Newest Tiger: Trade, Aid, and Governance in Vietnam."
This seminar series is co-sponsored by
John A. and Cynthia Fry Gunn Building,
Doll Conference Room (#320)
"When You Come to a Fork in the Road, Take It"
"When you come to a fork in the road, take it." – Yogi Berra
Ambassador Bosworth will discuss some of the possible options for dealing with North Korea. This is a keynote speech open to the public during the Fifth Annual Koret Conference on "North Korea Policy."
Ambassador Bosworth is the Dean of The Fletcher School of Law and Diplomacy at Tufts University. A former career diplomat, he served as U.S. Ambassador to the Republic of Korea, the Philippines, and Tunisia. Most recently, he served as U.S. Special Representative for North Korea Policy for the Obama administration.
This event is made possible by the generous support of the Koret Foundation.
Oksenberg Conference Room