0
Global Affiliate Visiting Scholar, 2019-20
Scihead Intellectual Property Co., Ltd.
lancy_hu.jpg MA

Ronghui Hu is a global affiliate visiting scholar at the Walter H. Shorenstein Asia-Pacific Research Center (Shorenstein APARC) for 2019-20.  From 1990 to 1995, Hu worked in the banking industry - first as a member of the administrative team to establish the first branch of the Bank of Tokyo-Mitsubishi UFJ (BTMU) in China, specializing in project finance and foreign exchange trading.  She also served as a manager in the Shanghai branch and was later appointed as director of BTMU China.

Following her time at BTMU China, she utilized her expertise in law to become Senior Partner with the Zhonglun Law Firm where for 20 years she helped build it from a start-up law firm into one of China's largest firms with international influence.  During this time, she handled several high-profile cases, including one in which she acted as the representative legal counsel for 6C (Toshiba, Panasonic, Hitachi, Mitsubishi, JVC, and Time Warner) and succeeded in getting her clients a contract with the Chinese government - the first pool patent license agreement executed by foreign companies with the Chinese government.

In her role as a Zhonglun partner, Hu was often directly involved with negotiations on behalf of Japan (and its various enterprises) with China (and its various state-owned companies).  Her law practice acted as a catalyst for changes in commercial law in China.  Currently, Hu serves as Principal Adviser of Scihead IPR Patent Office.  

 

 

0
Global Affiliate Visiting Scholar, 2019-21
Ministry of Finance, Japan
hiroki_hara.jpeg MA

Hiroki Hara is a global affiliate visiting scholar at the Walter H. Shorenstein Asia-Pacific Research Center (Shorenstein APARC) for 2019-21.  Hara served various positions at the Japanese Ministry of Finance (MoF) and assumed several tasks related to financial markets during his career.  Before joining Shorenstein APARC, Hara served as the Deputy Director of the Foreign Reserve Management Office at the MoF since 2016, responsible for the portfolio management of Japan's FX reserves.  Prior to that, Hara was the Deputy Director of the Government Debt Division, Financial Bureau from 2012 to 2013.  Hara worked on investor relation activities and explained the Japanese Government Bond Issuance Plan and Japan's economic situation for foreign investors.  Additionally, through a variety of job experiences, Hara traveled to 18 countries and worked at the Cabinet Office and the Financial Services Agency.  Hara earned his Bachelor of Economics from Osaka University in 2006 and his Master of Public Services Management from London Metropolitan University in 2010. 

 

 

0
Global Affiliate Visiting Scholar, 2019-20
PetroChina / China National Petroleum Corporation
yufeng.jpeg MS, MBA

Yufeng Geng is a global affiliate visiting scholar at the Walter H. Shorenstein Asia-Pacific Research Center (Shorenstein APARC) for 2019-20.  Geng works as the Vice President of Latin America, PetroChina.  Prior to this position, he has over 20 years of experience working internationally for PetroChina Overseas in Africa, Central Asia and Latin America, mainly focusing on exploration and development of oilfields, administrative management and human resources.  He earned his Master of Petroleum Safety Technology and Management at China Petroleum University, and his Master of Business Administration at Washington University in St. Louis.

 

0
Global Affiliate Visiting Scholar, 2019-20
Reliance Life Sciences
fullsizeoutput_c9fd.jpeg MBA

Sowmitra Chatterjee is a global affiliate visiting scholar at the Walter H. Shorenstein Asia-Pacific Research Center (Shorenstein APARC) for 2019-20.  Chatterjee has nearly 18 years of experience in distribution and supply chain management, including more than 13 years of handling distribution of cold chain and life saving medicines.  In his current position at Reliance Life Sciences, he serves as the Deputy General Manager of Distribution and Logistics and is responsible for the outbound supply chain to domestic and export markets.  His primary objective is to complete the Order to Cash (OTC) cycle which involves order execution, route mapping, transporter planning, shipment tracking, important documentations, payment collection, etc.  Prior to joining Reliance Life Sciences, Chatterjee was associated with Nicholas Piramal Ltd.  Chatterjee received his masters degree in commerce from Mumbai University and his MBA, specializing in supply chain management, from Sikkim Manipal University. 

 

 

Paragraphs

This report provides an overview of the Silicon Valley ecosystem. It draws upon existing scholarship and original insights to derive a picture that is only partially well-known in Japan. Characteristics such as the critical role of large firms for the startup firm ecosystem, the role of Japanese firms in creating the US firms’ “open innovation” paradigm, and the severe lack of local government coordination in providing public transportation creating opportunities for disruptive startups such as Uber, are all aspects of Silicon Valley that are not well-known in Japan. This report also delves into industry-university ties in the crucial research universities of Stanford and University of California Berkeley, highlighting the multifaceted and bidirectional interactions between universities and industry that are often not captured by the common “technology licensing office”-centered view. In the final section, this report briefly reviews a representative set of challenges often cited by large Japanese firms attempting to make use of the Silicon Valley ecosystem, concluding by suggesting areas for further research.

All Publications button
1
Publication Type
Working Papers
Publication Date
Authors
Kenji E. Kushida
Authors
News Type
News
Date
Paragraphs

The world is “graying” at an unprecedented rate. According to the UN’s World Population Prospects 2019, the number of persons over the age of 65 is growing the fastest and expected to more than double by 2050, then triple in another 50 years’ time.

Some Asian countries in particular, plagued by population aging, declining fertility, and gender imbalance, are facing a grim outlook for a demographic crisis. In Japan, one in five people is now 70 or older, birthrate has dropped to a historic level, and the population declined by more than a quarter of a million last year. Meanwhile, South Korea is aging more quickly than any other developed country: with seniors on the verge of making up 14% of the population, the country is on the cusp of becoming an “aged society.” The potential impact of population aging on the labor market and the fiscal pressures on the public systems of healthcare, pensions, and social protection schemes for older adults are some of the many problems that these and other countries must tackle.

Against this background, Shorenstein APARC recently held the third annual gathering of the Stanford Asia-Pacific Innovation project, a Center-led initiative that produces academic and policy-relevant research to promote innovation and entrepreneurship in East Asia. Held in Chuncheon, South Korea and organized jointly with Hallym University’s Institute for Communication Arts and Technology, this year’s conference focused on the intersection of aging, technological development, and innovation in the region.

Gi-Wook Shin stans at a podium

(Gi-Wook Shin)

APARC Director Gi-Wook Shin opened the two-day session, introducing the conference’s themes. “What policies can promote innovation and entrepreneurship in aging populations?” Shin asked. “What opportunities do new technologies offer for addressing challenges posed by East Asia’s demographic shifts, and what are the threats involved in the adoption of these new technologies?”

Joon-Shik Park, vice president of the Office of Vision and Cooperation at Hallym University,  the conference host, noted that “East Asian countries are the most important testbeds on issues related to aging and innovation,” and that sharing meaningful research and implications from the region “will provide invaluable insights for all the societies around us.”

 Yong Suk Lee , Junichi Yamanoi , Young-Bum Kim, and Jiyoung Liu seated at a table

(From left to right, Yong Suk Lee , Junichi Yamanoi , Young-Bum Kim, and Jiyoung Liu)

Family Business Succession

Demographic forces and population aging at the macro level are altering family structures and assumptions at the micro level. For example, Junichi Yamanoi of Waseda University presented a study that examined how expectations around managerial succession at family firms had a significant impact on a firm’s long-term investments.

The study surveyed over 15,000 small and medium enterprises (SMEs) in the Tokyo metropolitan area. The participants were initially asked about their firm’s attributes, CEO demographics, and succession expectations. More than a year later (a time lag that eliminated reverse causality), a sampling of respondents was then asked about their current long-term investments (e.g., R&D, new product development, and internationalization activities).

Yamanoi and his coauthors found that, when a family business’ CEO was confident that a successor would follow, their firm was more likely to engage in long-term investment. Additionally, a CEO’s expectations that the successor would be someone other than their child resulted in an even greater likelihood of long-term investment.

As part of its policy propositions, the study recommends that government agencies and SME officers eager to increase investments by SMEs introduce external candidates to such firms. Moreover, family CEOs should be cautioned against investment decisions that are too short-term in orientation, as, due to inherent aversion to losses of socioemotional wealth for the family, they may unconsciously avoid long-term investments.

Javier Miranda presents at table

(Javier Miranda)

Rethinking Age and Entrepreneurship

At a luncheon keynote address, Javier Miranda, principal economist at the U.S. Census Bureau,  shared insights into the correlations between age and high-growth entrepreneurship, considering when in life people start firms and when they start the most successful firms.

Miranda acknowledged that youth is often perceived as being crucial to entrepreneurial success, referring to Mark Zuckerberg’s dictum, “Young people are just smarter.” Venture capitalist (VC) activity seems to support this notion, said Miranda, citing a sample of 35 VC-backed “unicorns” that resulted in a mean founder age of 31. He explained that VCs' high regard of young entrepreneurs may be attributed to a belief in young people's greater deductive reasoning, transformative thinking, and higher energy, optimism, and confidence.

But does the statistical evidence support such a view? It would seem not. Miranda’s data showed that the mean age for founders of any type of firm is 41.9. Furthermore, the mean age for founders of the most successful firms (those ready for Initial Public Offering market) was 45, and a founder at age 50 was approximately twice as likely to experience successful exit or high growth compared to a founder 20 years their junior.

In fact, dependent on the starting of a firm, the probability of a founder’s success peaked in the age range of 45-59. Pointing directly to entrepreneurs like Jobs and Bezos, Miranda conceded that even extremely talented people, who may be talented enough to succeed when young, peaked in middle age.

The results of Miranda’s study seem at odds with VC attraction to younger entrepreneurs. Experience, Miranda concluded, appeared to overwhelm any potential age advantage, but more research was needed to unpack the underlying predictors of entrepreneurial success over one’s life cycle.

Role of Technology in an Aging Populace

Day two of the conference focused on the promising role technology may play as populations age. APARC Research Scholar Kenji Kushida detailed both the current and impending problems Japan faces as its population both ages and shrinks in size, and the solutions possible through technological advancement like robotics, AI, and wearable devices.

For example, Japan’s demographic shift has had a double knock-on effect on agriculture, with the percentage of farm workers age 65 or older steadily rising over the last five years and the total cultivated agricultural land decreasing each passing year. Kushida described how ICT-enabled bulldozers allow farm owners to more precisely flatten the ground in rice paddies, resulting in both greater yields and cost savings as much as 40%.

Healthcare is another significant area of concern in Japan, as healthcare costs for people over 65 are four times that of younger people and medical costs as a proportion of GDP have been increasing sharply, especially in rural areas. Shortage of physicians and diagnostic technicians is another challenge. Kushida gave an example of a technology healthcare resource that enables clinics and hospitals to upload patient medical images which are then diagnosed by medical doctors affiliated with the tool's startup developer. This low-cost solution allows smaller, rural hospitals to tap into a larger network of physicians and specialists online.

While Japan’s technological trajectory has been driven primarily by the private sector, Kushida pointed out the important role played by government actors. Specifically, within the “Abenomics” reforms of Prime Minister Shinzo Abe, several key performance indicators include support for digitizing medical records, adoption of robotics in nursing care, and extending “healthy” life expectancy.

Edited volumes collecting the papers from the annual Stanford Asia-Pacific Innovation conferences are forthcoming. These will serve as valuable references for scholars and policymakers. The first conference was held at Stanford in 2017, and examined the industrial organization of businesses and innovation clusters and how such environments affect entrepreneurship. The second conference, held in September of 2018 in Beijing, analyzed the impact of public education and financial policies pursued by East Asian countries to promote entrepreneurship.

Presenters gathered on stage

 

 

Hero Image
Gi-Wook Shin standing at Podium at Innovation Conference
All News button
1
-

Center members are cordially invited to the Shorenstein APARC 2019 - 2020 Orientation Luncheon on Tuesday, October 1, 2019. Please come join us to meet new colleagues and learn about research and projects taking place this year, while enjoying lunch together.

Please also join us on the morning of October 1 for a professional photoshoot. Photos will be used for the Shorenstein APARC directory board and website
 
Image
Shorenstein APARC 2019-2020 Annual Orientation Luncheon
Authors
Noa Ronkin
News Type
News
Date
Paragraphs

From political power in Britain, China, and New York City to robots and morality, APARC faculty draw inspiration for their work from a wide range of sources. Several of them share here what’s on their nightstand or e-book device this summer.


Image
Cover of the book The May Fourth Movement.

Thomas Fingar, Shorenstein APARC Fellow

I've decided to devote a portion of my summer reading to books on landmark developments in China being celebrated (or not), because 2019 is a major anniversary year. It marks the 100th anniversaries of the May Fourth Movement and of the establishment of the Kuomintang; the 70th anniversary of the establishment of the People’s Republic of China; the 40th anniversary of Reform and Opening plus normalization of U.S.-China relations; and the 30th anniversary of Tiananmen Square.

To mark the centennial of the May Fourth Movement, I will reread the pioneering book by Chow Tse-tung, The May Fourth Movement: Intellectual Revolution in Modern China.

Image
Cover of the book Working, by Robert Caro

 

David M. Lampton, Oksenberg-Rohlen Fellow

My recommendation is Working, by Robert Caro. A gem on the art of political interviewing and the study of political power. It is also substantively interesting on Robert Moses who literally built New York City. Short and good on many levels.

 

 

 


Image
Collage of the covers of four books recommended by Yong Suk Lee for summer 2019

Yong Suk Lee, SK Center Fellow at FSI and Deputy Director of the Korea Program at APARC

Here are a few books on my Kindle/nightstand for the summer:

I, Robot, by Isaac Asimov. 
Some of the futuristic novels of the early twentieth century are surprising relevant today. As robots and artificial intelligence have resurfaced in popular media and are the main subject of my current research, I wanted to read this iconic science fiction on robots.

Churchill: The Power of Words, by Winston Churchill and Martin Gilbert 
Churchill’s own account on the power of words. I wanted to revisit Churchill as words have become potentially more powerful and dangerous in today's social media-infused, polarized world.

Loving Frank, by Nancy Horan, and The Vision of Frank Lloyd Wright, by Thomas Heinz 
My more entertaining summer reads: a novel about Frank Lloyd Wright that takes the reader through his personal life, accompanied by one of the most thorough volumes on Wright's architecture.


Happy Summer from APARC!

 

Hero Image
Picnic basket with book and cup on beach
All News button
1
Paragraphs

This special issue of The Journal of the Economics of Ageing, edited by Anita Mukherjee and APARC's Asia Health Policy Program Director Karen Eggleston, focuses on a key challenge around the world: financing the many needs that come with longer lives, lower fertility, and older population age structures. The triumph of longevity can pose a challenge to the fiscal integrity of public and private pension systems and other social support programs disproportionately used by older adults. This challenge is a formidable but ultimately happy one, as people around the world today can expect to live longer and healthier lives.

The countries and regions studied in this special issue include many that are leading the world in this longevity transition with relatively old population age structures, especially in Europe and Japan. Other areas such as Latin American countries and especially China are rapidly catching up, or have large total populations of older adults at relatively low per capita income and little formal social security, such as India. 

The two special contributions and eight research papers with their accompanying perspective pieces collected in this issue cover comparative research on over 30 European countries and 17 Latin American countries, as well as studies on Australia, the Netherlands, the United States, India, China and Japan. The contributions analyze a variety of topics within the broad rubric of financing longevity, including the ways in which the elderly cope with caregiving and cognitive decline; how pension structures may exacerbate existing inequalities; and innovative ways to extend old-age financial security to those working outside the formal sector in developing countries. The variety of topics covered in these papers reflects the many angles from which research is needed to inform policies intended to improve the financial well-being for the world’s ageing population.
All Publications button
1
Publication Type
Journal Articles
Publication Date
Journal Publisher
The Journal of the Economics of Ageing
Authors
Karen Eggleston
Authors
Noa Ronkin
News Type
News
Date
Paragraphs

“For seven decades our thinking about Indo-Asia-Pacific security and international cooperation issues has been underpinned by the narratives of a U.S.-led international order centered around the rule of law, economic openness, and multilateralism. Now this post-WWII order is being challenged.”

With that summation, APARC Director Gi-Wook Shin opened the symposium The Past, Present, and Future International Order in East Asia. Sponsored and organized by the Japan Institute for International Affairs (JIIA) and APARC’s Japan Program and U.S.-Asia Security Initiative , the day-long event gathered 20 experts across multiple fields, including international relations, political and diplomatic history in Asia, American foreign policy and history, Japan-PRC relations and politics, security interests in the Indo-Pacific region, and U.S.-Asia regional engagement.

 

Japan Program Director, Takeo Hoshi (above, one of the Symposium leaders, launches the panel discussions

Japan Program Director, Takeo Hoshi (above, one of the Symposium leaders, launched the panel discussions by first expressing his gratitude to the participants and sponsors on behalf of the organizers and then by encouraging the audience to engage in the discussions following each panel.

At the Symposium, the participants explored the circumstances that shaped the establishment of the security architecture in East Asia; considered the forces that propelled its evolution; and debated possible futures for East Asia and the greater Indo-Pacific region.

A Wilsonian Dream

Ambassador Kenichiro Sasae , JIIA President, at podium

“Is the international order crumbling? Or, are the challenges it is undergoing a tentative deviation that can be fixed?” - Ambassador Kenichiro Sasae , JIIA President (pictured above).

The symposium’s first panel reviewed the evolution of diplomatic and security arrangements in East Asia, starting with the Versailles-Washington System, the international settlement inaugurated after World War I through the treaties signed in Paris in 1919-20 along with those signed in Washington in 1921-2. After World War II, the “San Francisco System,” the process of alliance formation and security cooperation that was initiated at the San Francisco Conference in September 1951, became the foundation of the U.S.-led regional order through the remainder of the twentieth century and continued to dominate international relations through the first two decades of the twenty-first.

Stanford historian David Kennedy explained that both systems are the products of Wilsonianism—a liberal internationalist ideology that has anchored the tradition of American diplomacy over the past century.  The spirit of “Wilsonianism” is reflected in President Woodrow Wilson’s proclamation that “the world must be made safe for democracy,” a statement that he delivered in remarks presented in 1917 as he appeared before a joint session of Congress to ask for a declaration of war against Germany. The global cataclysm of World War II, said Kennedy, afforded the United States the capacity to shape the political will that would make the Wilsonian dream of an international order possible. This pivotal point in American history is referred to as a “Grotian moment” (named after Dutch jurist Hugo Grotius), a time when “new rules and doctrines emerged in rapid succession and with greater acceptance than previously possible.”

China figured prominently in both the Versailles-Washington System and the San Francisco System. Shin Kawashima of the University of Tokyo spoke about the Nine-Power Treaty, part of the 1922 Washington Conference, that affirmed China’s sovereignty, independence, and territorial integrity. Hsiao-ting Lin of the Hoover Institution stated that the treaty marked an internationalization of the U.S. open door policy regarding China, but that many in China viewed it and the broader framework of the Versailles-Washington System as Western imperialism.

In the aftermath of World War II, and particularly following the establishment of the People’s Republic of China and the outbreak of the Korean War, the United States became increasingly involved in East Asia. The signing of the peace treaty with Japan at the San Francisco Conference marked the beginning of the U.S. network of bilateral alliances, agreements, partnerships, and commitments in the region. The San Francisco System (also known as “hub and spokes” architecture) allowed the United States to develop exclusive relationships with the Republic of Korea, Japan, Taiwan (the Republic of China), and other Asian nations in the face of Communist forces.  As Dr. Lin noted in his remarks, the U.S. regional security agreements and security cooperation arrangements also enabled the Republic of China (Taiwan) to gain independence and international recognition.

The Return of the Quad

In his keynote address, Shorenstein APARC Fellow Michael Armacost , who previously served as U.S. ambassador to Japan and the Philippines, spoke of the promise that the possible resurgence of the “Quad” might bring to increasing the stability of the Indo-Pacific region. The “Quad” is an informal grouping of maritime democracies that includes Australia, India, Japan, and the United States. The four countries collectively provided relief following the Indian Ocean tsunami in 2004 and met for a summit in 2007 only to dissolve a year later, due to Australia’s abrupt departure after the PRC expressed displeasure about the partnership.

But much has changed in the ensuing decade, Armacost observed, with the argument in favor of the Quad now more compelling than ever. Armacost said that in bringing together the four democracies with their naval capabilities and convergence around norms of freedom of navigation, maritime law, international security, and nuclear cooperation, there could be a path forward towards more comprehensive cooperation in the Indo-Pacific region at a time of increased geopolitical uncertainty and as a counterpoint to China’s aggressive expansion throughout this region. Armacost also wondered, however, if Japan was in fact ready to take a greater leadership role, and who could sustain leadership beyond Prime Minister Abe’s time in office.

 

Ken Jimbo, Keio University, speaks to audience

Ken Jimbo, Keio University

Alliances and Anchor Lines

The afternoon sessions shifted focus to current Japanese, American, and Chinese interests and security concerns. APARC’s Oksenberg-Rohlen Fellow David M. Lampton discussed the intensifying U.S.-China rivalry, noting that the deterioration of the security relationship between the two countries is metastasizing into the economic, educational, and diplomatic spheres. Alliance management is bound to become increasingly important to the United States, he concluded, should the tension with the PRC intensifies further.

Tetsuo Kotani of JIIA described some ambivialence in Japan regarding the recently revised U.S. policies towards China.  On the one hand, Japan welcomes America’s tougher approach to the People’s Republic of China; on the other hand, it is not pleased by the trade war between the two countries. Even while Japan recognizes that China is challenging the established international order, argued Kotani, it was still necessary for Japan to maintain engagement with its neighbor. He expressed his hope that the United States and Japan could reconcile their expectations of the PRC in East Asia and collaborate with other nations to strengthen regional stability.

James Schoff of the Carnegie Endowment for International Peace noted that United States had ample opportunity to address some of the more negative elements related to China’s rise, but that it chose instead to prioritize other issues and benefit from China’s economic growth. The United States ought to strengthen its alliances with Asian nations, said Schoff.  Comparing alliance management to an anchor and chain, the U.S. national policies, he claimed, should be crafted and deployed in a manner that best fits the issue – i.e., an anchor and chain of different lengths for different areas.  For instance, longer alliance anchor lines should be extended in the spheres of economy and diplomacy, while shorter lines are set in the areas of security and the intersection of economy, new technologies, and warfare.

 

Tom Christensen, Columbia University, speaks on panel

Tom Christensen, Columbia University

Possible Futures

The Symposium concluded with an examination of alternative East Asia and Indo-Pacific security systems. Ryo Sahashi of the University of Tokyo presented four models that could replace the current arrangement: an enhancement of the San Francisco System, with U.S. continued commitment to the region, but with Japanese and Australian increased security roles; a “group of hedging nations,” where the U.S.-based architecture was not dissolved but lesser powers operated with greater autonomy; an “emerging Japan-China rivalry,” where, following U.S. retrenchment, Japan was to defend its vital interests through defense; and “Sinicization and resistance,” where a U.S. retrenchment coupled with Japan’s backing down resulted in China’s leadership prevailing in its illiberal order-building.

The panelists agreed that China’s regional economic dominance for the foreseeable future was undeniable. However, they noted that the implications of its continued influence were up for debate. Ambassador Sasae conveyed his hope that the region might yet see positive outcomes, while other panelists expressed their concern that the present trend of turbulence and threats to multilateralism would likely continue.

U.S.A.S.I. Director Karl Eikenberry provided closing remarks, taking time not only to underscore the significance of the current situation in Indo-Pacific security, but to reflect as well on the value of events like the Symposium to increase understanding of the region's possible futures.

"Whether or not we’re at the Grotian moment [i.e., a point of transformatio in wrold relations]," Ambassador Eikenbery said, "we do know there’s been some very significant changes over the last several decades—especially regarding the distribution of power in the Indo-Pacific and throughout the world. We are seeing a steady erosion of values and norms that we took for granted…”

“It is not clear if the San Francisco System will endure. I think it’s incumbent upon us to bring people like [the Symposium panelists] together…and consider possible alternatives.”

A complete symposium report will be made available in the coming months.

 

Hero Image
U.S. Navy Patrols Philippines Sea U.S. Navy/ Getty Images
All News button
1
Subscribe to Asia-Pacific