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Stanford University’s Walter H. Shorenstein Asia-Pacific Research Center (Shorenstein APARC) and The Korea Society established the New Beginnings policy study group three years ago to enhance the United States’ important alliance with the Republic of Korea. Differences of approach toward North Korea had created significant tensions between the two governments in preceding years.

The New Beginnings group, comprised of former senior U.S. policy makers and experts on U.S.-Korean relations, believed that the inauguration of a new government in South Korea in early 2008 and the election of a new U.S. president later that year could lay the basis for a fresh start in the bilateral relationship. Both individually and collectively, members engaged intensively with American and South Korean policy makers, and together they have issued annual reports and recommendations to the U.S. administration regarding bilateral developments and ways to strengthen the alliance.

Members of the group believe that U.S.-South Korean official and people-to-people relations today are broader, deeper, and stronger than ever due to the leadership of the two governments. They welcome the prospect that the U.S. Congress may approve the Korea-U.S. Free Trade Agreement on the eve of President Lee Myung-bak’s upcoming state visit to the United States. Implementation of the agreement will significantly expand economic ties between the two countries, increase jobs, and reinforce strategic ties.

New Beginnings members remain concerned that North Korea may engage in further military and nuclear provocations, and they support continued close U.S.-South Korean coordination on diplomatic and military means to deter North Korea and to limit and eventually end its nuclear programs. Members also support continued implementation of existing plans to rationalize and realign United States Forces Korea (USFK), allow USFK personnel to be accompanied to Korea by their family members, and transfer wartime operational control over South Korean forces to South Korean authorities in 2015. With presidential elections scheduled in both the United States and South Korea in late 2012, members believe that the United States should focus on implementing existing policies rather than undertake major new initiatives regarding the alliance or North Korea policy.

Key recommendations of the 2011 annual report:

The members of the New Beginnings policy study group on U.S.-Korean relations offer the following major recommendations to the Obama administration:

• Increase cooperation with South Korea to correct weaknesses in deterrence; engage in further joint planning on responses to North Korean provocations

• Support the strengthening of South Korea’s response to North Korean missile programs, consistent with the credibility of the Missile Technology Control Regime

• Use the Extended Deterrence Policy Committee to underline to the South Korean government the effectiveness of the U.S. nuclear umbrella

• Continue implementation of existing plans to realign USFK, allow accompanied tours, and transfer wartime operational control over South Korean forces to South Korean authority as scheduled in 2015

• Continue efforts, in close coordination with South Korea, to engage North Korea diplomatically to limit, reduce, and end North Korea’s nuclear programs

• Provide any U.S. food aid to North Korea on a humanitarian basis, depending on needs there, competing needs elsewhere, and acceptable monitoring arrangements

• Seek to resume the search in North Korea for the remains of Americans missing-in action from the Korean War

• Encourage early South Korean legislative approval of the Free Trade Agreement.

The full-text of the 2011 report and all previous recommendations are available for download on the Shorenstein APARC website.

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Walter H. Shorenstein Asia-Pacific Research Center
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Michael H. Armacost
Gi-Wook Shin
David Straub
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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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Visiting Scholar at APARC, 2021-2022
Visiting Scholar at APARC, 2012-2013
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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.

Carl Walter Former CEO Speaker JPMorgan Chase Bank China Co Ltd.
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Stanford University
Encina Hall, Room C302-23
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2011-12 Visiting Scholar
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Nan Zhao joins the Walter H. Shorenstein Asia-Pacific Research Center (Shorenstein APARC) from Beijing Normal University’s Institute of National Accounts where he serves as an associate professor.

His research interests encompass the empirical analysis of macroeconomics, with a focus on financial development, public finance, and energy economics in China. During his time at Shorenstein APARC, Zhao will participate in a comparative study of China and the United States in terms of energy policy, strategy, and efficiency.

Zhao holds a PhD in economics from China’s Xiamen University.

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The Association of Southeast Asian Nations has challenged itself is to become a single integrated community by 2015.  The prospect has raised high hopes inside the region.  Will they be met?  Efforts to build the community have intensified, yet the clock ticks and the deadline looms.  Although the result will not match what local enthusiasts of regional unification want to see, but it will likely exceed the expectations of skeptical outsiders.  ASEAN is the linchpin of East Asian regionalism, by design and by default.  What happens to the Association over the next several years has far-reaching implications for the United States, China, and not least for the states and peoples of Southeast Asia.  In his talk, Prof. Pongsudhirak will tease out these dynamics, assess their significance, and explore possible futures beyond 2015.

Thitinan Pongsudhirak heads the Institute of Security and International Studies and teaches international political economy at Chulalongkorn University in Bangkok.  In 2010 he was an FSI-Humanities Center International Visitor at Stanford and, in spring 2011, a visiting professor at Johns Hopkins University’s School of Advanced International Studies.  He has written many articles, chapters, and books on ASEAN and East Asian affairs, and on Thai politics, political economy, and foreign policy.  He has worked for The Nation newspaper (Bangkok), The Economist Intelligence Unit, and Independent Economic Analysis (London).  He currently serves on the editorial boards of Asian Politics & Policy, Contemporary Southeast Asia, the Journal of Current Southeast Asian Studies, and South East Asia Research.  His degrees are from the London School of Economics (PhD), Johns Hopkins University (School of Advanced International Studies, MA), and the University of California, Santa Barbara (BA). 

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FSI-Stanford Humanities Center International Visiting Scholar

Thitinan Pongsudhirak is a high-profile expert on contemporary political, economic, and foreign-policy issues in Thailand today  He is also a prolific author; witness his op ed, "Moving beyond Thaksin," in the 25 February 2010 Wall Street Journal.

Pongsudhirak is not senior in years, but he is in stature.  His career path has been meteoric since he earned his BA in political science with distinction at UC-Santa Barbara not long ago. In 2001 he received the United Kingdom's Best Dissertation Prize for his doctoral thesis at the London School of Economics on the political economy of Thailand's 1997 economic crisis.

Since 2006 he has held an associate professorship in international relations at Thailand's premier institution of higher education, Chulalongkorn University, while simultaneously heading the Institute of Security and International Studies, the country's leading think tank on foreign affairs.

His many publications include: "After the Red Uprising," Far East Economic Review, May 2009; "Why Thais Are Angry," The New York Times, 18 April 2009; "Thailand Since the Coup," Journal of Democracy, October-December 2008; and "Thaksin: Competitive Authoritarian and Flawed Dissident," in Dissident Democrats: The Challenge of Democratic Leadership in Asia, ed. John Kane et al. (2008).  He has written on bilateral free-trade areas in Asia, co-authored a book on Thailand's trade policy, and is admired by Southeast Asianist historians for having insightfully revisited, in a 2007 essay, the sensitive matter of Thailand's role during World War II.

He was a Salzburg Global Seminar Faculty Member in June 2009, Japan Foundation's Cultural Leader in 2008, and a Visiting Research Fellow at the Institute of Southeast Asian Studies (Singapore) in 2005.  For ten years, in tandem with his academic career, he worked as an analyst for The Economist's Intelligence Unit.

Thitinan Pongsudhirak Professor of International Political Economy, Faculty of Political Science, Chulalongkorn University, Thailand Speaker
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Gary Mukai Director at Stanford Program on International and Cross-cultural Education (SPICE) Speaker
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A police “encounter killing,” or simply “encounter,” is a term with no legal validity but which has seeped via the media into Indian English so surely that it has acquired a life of its own. It refers to a face-to-face interaction between the police and suspects leading to the killing of the suspects. While intended to convey serendipity, encounter killings in reality are often pre-planned executions by police or security agencies. First used against Maoists in the 1970s, and counterinsurgents in the Northeast and Kashmir, executions as unstated state policy were perfected in dealing with Sikh militant groups in the 80s and 90s. The ‘Punjab solution’, as it came to be known, became the model for the internal security establishment. Mumbai’s underworld was reined in through a series of high profile encounter killings—much celebrated in the popular media for imposing order into the urban anarchy that the gang-wars were breeding. Indeed, this became the preferred quick-fix method of dealing with a range of ‘undesirables’, from petty criminals to gangsters, to alleged terrorists and separatists. But more often than not, those lumped together as ‘encounterables’ were simultaneously marked out through their caste, ethnic and religious affiliations. The talk will discuss the history of fake encounters in India and the role of the media and judiciary in dealing with them.

Manisha Sethi is Assistant Professor at the Centre for the Study of Comparative Religions and Civilizations, Jamia Millia Islamia, New Delhi. Her research interests are in the area of gender and religion, communalism, and law and terrorism. She has published extensively on these themes in academic as well as popular publications. She is currently Associate Editor, Biblio: A Review of Books, India’s premier book review journal, with which she has been associated for over a decade. Sethi is the President of the Jamia Teachers' Solidarity Association, which has been closely involved in a campaign against extra judicial killings. Her book, Escaping the World: Chastity, Power and Women’s Renunciation among Jains, Routledge India, is due later this year.

This event is co-sponsored with the Stanford Center for South Asia and

The Indian American Muslim Council

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Manisha Sethi Assistant Professor, Centre for the Study of Comparative Religions and Civilizations Speaker Jamia Millia Islamia, New Delhi
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KSP's 2011–12 Koret Fellow, recently retired Korean senior career diplomat Ambassador Joon-woo Park, will discuss the U.S. role in current territorial disputes in East Asia. The disputes, which threaten peace and stability in the region and could result in conflict among major powers, have their origin in the incomplete settlement of the Pacific War overseen by the United States. Ambassador Park argues that the United States thus shares responsibility for the current situation. He will review the status of the major territorial disputes in East Asia and explain why the United States has a significant role to play in their peaceful resolution and in promoting cooperative and friendly relations among the countries of the region.

As a career diplomat, Ambassador Park served in numerous key posts, including those of ambassador to the EU and to Singapore and presidential advisor on foreign affairs. Park worked closely for over twenty years with Ban Ki-moon, the former Korean diplomat who is now the United Nations secretary-general.

Ambassador Park also served for seven years at the Korean embassies in Tokyo and Beijing. During his tenure as director general of the Korean foreign ministry’s Asian and Pacific Affairs Bureau, he handled sensitive, longstanding issues relating to regional history, such as the depiction of historical events in Japanese textbooks and the treatment of the history of the Goguryeo kingdom in China’s Northeast Project.

The Koret Fellowship has been made possible by the generous support of the Koret Foundation. The Fellowship’s purpose is to promote intellectual diversity and breadth in KSP by bringing leading professionals in Asia and the United States to Stanford to study U.S.-Korea relations. Fellows conduct their own research on the bilateral relationship, with an emphasis on contemporary relations, with the broad aim of fostering greater understanding and closer ties between the two countries.

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Joon-woo Park 2011-2012 Koret Fellow, former ambassador to the EU Speaker
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World War Two, the most violent period in the modern history of Europe and Asia (1937–1945), left deep scars still evident on both continents. Numerous and often conflicting narratives exist about the wartime era, ranging from personal memoirs to official accounts of wartime actions. Many issues, from collaboration to responsibility for war crimes, remain unresolved. In Europe some issues that have been buried for decades, such as the record of collaboration with Nazi occupiers, are now resurfacing. In Northeast Asia, World War Two’s complex, painful legacy continues to impact popular culture, education, diplomacy, and even economic relations.

While differences exist in the wartime circumstances and reconciliation processes of Europe and Asia, many valuable lessons can be gained through a study of the experiences on both continents. The Walter H. Shorenstein Asia-Pacific Research Center (Shorenstein APARC) facilitated a comparative dialogue on World War Two, bringing together 15 noted experts for the Colonialism, Collaboration, and Criminality conference, held June 16 to 17 at Stanford. Each of the event’s five panels paired an Asia and a Europe scholar addressing a common theme.

The debate over remembrance of World War Two

Asia’s relative lack of progress in achieving reconciliation of the painful legacies of the war in Asia and the Pacific continues to bedevil current relations in the region. This is a consequence of the way the Cold War interrupted the resolution of wartime issues and blocked dialogue over the past, particularly between Japan, China, and South Korea, suggested Daniel C. Sneider, associate director for research at Shorenstein APARC. The widely held image of an unrepentant Japan ignores the fierce debate within Japan over wartime memory, often obscured by the prominence of rightwing nationalist views. Meanwhile, within China and Korea, wartime memory is also increasingly contested ground, from the issue of collaboration to the emergence of a more nationalist narrative in China, further complicating relations among those Asian neighbors.

Daniel Chirot, a professor of international studies at the University of Washington, emphasized that immediate postwar economic and security needs, including the growth of Communism, accelerated West Germany’s willingness to reconcile with its Western neighbors. He concurred with Sneider, saying that no such imperative existed in Northeast Asia until the need for economic cooperation three decades after the war. He suggested that the growth of regional integration might, as in Europe, drive Northeast Asia toward greater reconciliation.

Divided memories

Justice for sensitive historical human rights issues, such as World War Two atrocities, bears increasing importance in today’s ever-globalized economic and political climate, stated Thomas Berger, a professor of international relations at Boston University. Berger noted the challenge that Japan’s factional politics poses to a revision of the country’s official wartime narrative, and suggested that a strong regional structure, such as the European Union, could effectively facilitate reconciliation in Northeast Asia.

Frances Gouda, a professor of political science at the University of Amsterdam, examined the use of Anne Frank and former Indonesian president Sukarno as “icons of memory” in Dutch interpretations of World War Two. She asserted that Frank’s victimization allows people to come to terms with Nazi war crimes, but that Sukarno’s vilification as a Japanese collaborator oversimplifies history and allows the Netherlands to avoid confronting its own colonial past.

Collaboration and resistance

France’s Vichy regime, responsible both for collaborating with the Nazis and acting independently to persecute Jewish citizens, remains a painful and unresolved subject in the country’s contemporary quest for national identity, said Julian Jackson, a professor of history at Queen Mary, University of London. He pointed to French president Nicolas Sarkozy’s act of making a national martyr out of Guy Môquet, a young communist who died resisting the German Occupation, as a key example of the complexities involved in trying to come to terms with France’s past.

Ongoing territorial disputes over islands located between Japan and its neighbors in China and Korea are a product of the unresolved legacy of the wartime era in Asia. Sovereignty over those islands was left deliberately unresolved by the 1951 San Francisco Peace Treaty which formally ended the war, suggested Alexis Dudden, a professor of history from the University of Connecticut. As a result, the territorial disputes have become a battleground on which larger questions of historical memory about the war are contested, not only by Japanese conservatives but also by Koreans and Chinese, she said.

Former Japanese Prime Minister Yoshida Shigeru’s press statement at the San Francisco Peace Treaty.

(U.S. National Archives)

Paths to reconciliation

Gi-Wook Shin, director of Shorenstein APARC and a professor of sociology, suggested that while Europe’s experience with war and reconciliation offers lessons for Asia, significant differences exist between the wartime and post-war situations of the two continents, and that reconciliation in Asia requires time. Increased economic interaction between the countries in Northeast Asia serves less to foster reconciliation, he said, than to spur competition for regional dominance. Shin emphasized that the United States, which has greatly impacted the region’s post-war history, can play a critical role as a facilitator in establishing lasting regional accord.

The Nazi regime’s systematic attempt to completely wipe out all traces of Jewish history and culture in Europe, even as closely bound as it was with Germany’s own traditions, is a unique case, stated Fania Oz-Salzberger, a professor of history at Haifa and Monash Universities. She explored universal elements in the German-Jewish reconciliation experience, noting, like Shin and Chirot, the important element of time that is needed to reflect upon painful events of the past. Oz-Salzberger especially spoke of the healing that takes place at the level of society and culture, sometimes even before governments are ready to reconcile with one another.

Continuing political impacts

Gilbert Rozman, a professor of sociology at Princeton University, suggested that Northeast Asia’s wartime history debates will continue to complicate regional relations unless China, Japan, and Korea reach a point of mutual reconciliation. He noted the role that Japan’s government, in the 1980s during its financial heyday, and more recently, China’s leaders during a similarly strong economic era, have played in prolonging the debate. 

Memories of war are transmitted across the years through a complex process involving multiple actors and they can later influence political behavior, explained MIT political science professor Roger Petersen. He described the process within the context of the Lithuania’s successful declaration of independence from the former Soviet Union in January 1991. Petersen stated that Lithuanian émigrés, in part, helped keep the narrative of Soviet aggression and Lithuanian martyrdom alive until the conditions were right for action many decades later.

The Colonialism, Collaboration, and Criminality conference grew out of Shorenstein APARC’s Divided Memories and Reconciliation project, which for the past three years has examined the legacy of war-era memories in Northeast Asia and the United States and explored possible means of reconciliation. Shorenstein APARC has already published the first in a series of four books based on the project, and an edited volume of papers from the June 2011 conference is forthcoming next year.

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Japanese wartime era postcard depicting the seizure of Rehe in northern China in late 1937.
Courtesy Daniel C. Sneider.
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Beyond North Korea, co-edited by Byung Kwan Kim, Gi-Wook Shin, and David Straub, is the first in a new series of policy-related studies on contemporary South Korea sponsored by the Koret Foundation of San Francisco. In this volume, top American and Korean academics and officials offer a fresh and timely perspective on traditional and non-traditional threats to South Korea's security and provide authoritative advice for meeting them. The book is based on research findings from the first Koret conference, Enhancing South Korea's Security: The U.S. Alliance and Beyond, held March 2009.

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