Stanford University

Foreign Policy

Peigang Li

Shorenstein APARC
Stanford University
Encina Hall E301
Stanford, CA 94305-6055

(650) 736-0771 (650) 862-9660 (650) 723-6530
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Visiting Scholar
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Peigang Li joins the Walter H. Shorenstein Asia-Pacific Research Center (Shorenstein APARC)  as a visiting scholar for the 2013-2014 acedemic year. He is currently an Investment Portfolio Manager for Hollyhigh International Capital, the first investment banking firm specializing in mergers and acquisitions (M&As) in Mainland China.   

His research interests include studying China‘s economic development and other areas of economic history in East Asian countries. During his time at Shorenstein APARC, Peigang will participate in a research project with the Stanford China Program, where he will evaluate China’s economic situation, and assess its future development for sustainability through institutional change. 

Peigang received a Masters in Power Electric Automation Control from the Northeast China Institute of Electric Power Engineering. After working as a power automation software engineer, his interests in the financial community led him to enter into the investment field. Peigang soon became an industry stock analyst, and a mutual fund manager.

U.S.-China summit in California

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Barack Obama and Chinese leader Xi Jinping met in California recently for a two-day summit -- their first since Xi took office as president. Shorenstein APARC experts weigh in on key issues surrounding the visit.
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A Chinese pavilion at Sunnylands, the estate where President Barack Obama will meet with Chinese leader Xi Jinping. | Flickr / rocor
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How would China remake the global order?

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China’s impressive economic growth over the last three decades and increasing political influence and military capabilities have caused people around the world to wonder or worry about how China will use its new-found power. More specifically, they wonder whether, and how, China might attempt to transform the international system that has enabled it to become the world’s second largest economy and potential contender for global leadership.

Thomas Fingar, the Oksenberg-Rohlen Distinguished Fellow at Stanford’s Freeman Spogli Institute for International Studies, addressed these and related questions during the Walter H. Shorenstein Asia-Pacific Research Center’s annual Oksenberg Lecture on May 22. 

After describing how China has benefitted from participation in the liberal order led and maintained by the United States, Fingar argued that China has neither the will nor the ability to lead or transform the existing system, and that its continued “rise” will increase its stake in the system and make it even less willing to seek changes that could jeopardize its own success. He also suggested that other nations benefitting from the existing order would constrain China from attempting radical change even if it wanted to.

Following Fingar’s remarks, Jia Qingguo, associate dean of the School of International Studies at Peking University, said it is important to recognize that China is in the midst of a major transition. It is both a developed and a developing country, he said.

Thomas Christensen, director of Princeton University’s China and the World Program, added that due to China’s weight in the world, it will be called on more and more to collaborate on critical global issues, such as climate change and disease.

Fingar’s keynote remarks drew on “China's Vision of World Order,” a chapter published in Strategic Asia 2012–13: China's Military Challenge (National Bureau for Asian Research), as well as Shorenstein APARC’s research initiative on China’s interactions with its neighbors.

Since 2002, Shorenstein APARC has held the Oksenberg Lecture Series as a tribute to the legacy of Michel Oksenberg, a pioneer in the field of Chinese politics and an important force in shaping American attitudes toward China.

An audio podcast of the May 22 event is available on the Shorenstein APARC website.

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"One World, One Dream" opening ceremony presentation at the 2008 Summer Olympics in Beijing, China. | Flickr/familymwr
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Great Games: Chinese Relations with South and Central Asia

China and the World

This multiyear project, coordinated by Thomas Fingar, Oksenberg-Rohlen Distinguished Fellow, at the Freeman Spogli Institute for International Studies at Stanford University, looks sequentially and systematically at China’s interactions with countries in all regions and across many issue areas. The project seeks to clarify China’s objectives and policies to achieve them, but it also seeks to identify and explain the goals and policy calculations of other countries that see opportunities and perils associated with China’s greater activism on the world stage.

Phase one of the project examined China’s engagement with Japan, the Republic of Korea (ROK), and the Democratic People’s Republic of Korea. Scholars and foreign policy practitioners from China, Japan, the ROK, Russia, and the United Stated discussed these questions at a two-day workshop in Beijing in March 2012. Participants from several Southeast Asian countries also attended the workshop to ensure that questions explored were broad enough to facilitate comparisons and the search for patterns and learning across issues and areas at the follow-on regional workshop held in Singapore in November 2012.

The Singapore workshop, phase 2, discussed China's objectives and policies with respect to Southeast Asia, but focused primarily on the ways in which China's approach and actions are perceived by individual countries in the region and what regional countries seek to achieve with respect to China. Implicit in some of the presentations was the notion that China was trying to restore its traditional primacy in the region and to prevent any country inside or outside of Southeast Asia from exercising greater regional influence. Other participants emphasized material goals, including access to resources, markets for Chinese goods, and fostering economic dependence on China. Participants agreed that China's influence and impact are large and growing, and that states in the region are pursuing different strategies to advance their own interests and maximize their own freedom of action.

The third workshop, to be held at Stanford University on June 20-21, 2013, will examine China’s relationship with South and Central Asia. While there is a focus on the bilateral relationship between China and India, the largest and most powerful regional actor, the conference will also look at other key bilateral relationships, such as with Pakistan, and at interactions on a regional level, including in the economic sphere. The workshop will explore the management of cross border issues such as migration flows, water, and energy resource development. The sessions on Central Asia will offer broader understanding of China’s intersection with other powers such as Russia and India in that region.

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Where Is China Headed?

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China has surpassed Japan to become the second largest economy in the world, and is able to strongly impact the global economy, politics and society.  But can China sustain and maintain relatively high economy growth in the future?  Can China surpass the United States to become the largest economy in the world?  Will the "China Growth Model" change?  These questions are now of great concern to the world.  Being a member of the management team of China's leading investment bank for ten years, Tatsuhito Tokuchi will speak on these themes from his China insider point of view.  He will also touch upon the future prospect of the China-Japan relationship and Chinese foreign diplomatic policy, which are the questions that people in neighboring countries are very much concerend about. 


Tatsuhito (Ted) Tokuchi is a Managing Director of CITIC Securities, the largest investment banking in China, and Chairman of CITIC Securities International, a subsidiary of CITICS in Hong Kong.  He is known as an only executive of a native of Japan for large indigenous Chinese companies.  Tokuchi was born in Tokyo in 1952.  In 1964, he went to Beijing with his parents, and there he spent thirteen years of his youth.  Tokuchi joined Daiwa Securities Comapny in 1980 in Japan, and during his twenty-year career at Daiwa, he engaged in investment banking and management of teams in Tokyo, New York, Hong Kong, Singapore and Beijing.  In 2002, he joined CITIC Securities Company as a head of the investment banking division.  Tokuchi received a B.A. in Chinese Literature from Beijing University in 1976, and an M.A. in East Asian Studies from Stanford University in 1985.

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Tatsuhito Tokuchi Managing Director of CITIC Securities in China, Chairman of CITIC Securities International in Hong Kong Speaker
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Japan Colloquium Series

Research Presentations (1 of 5) - Hanai, Nakagawa, Suzuki and Wang

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In this session of the Shorenstein APARC Corporate Affiliate Visiting Fellows Research Presentations, the following will be presented:

Yasuaki Hanai, "Are Japanese Electric Companies Becoming Obsolete? –  Rethinking Strong Points for Japanese Electric Companies

In recent years, it has become very common to take pictures using a smart phone or tablet, such as an iPad, and to share this information via social media outlets such as Facebook, Twitter and Instagram.  Japanese electric companies and products have been noticeably absent from this area, except for the single-lens reflex camera.  How has this happened?  Why have Japanese electric companies suffered a decline?  In his research, Hanai tries to answer these questions by analyzing the financial reports of various Japanese companies after the bubble economy collapse.  Hanai also considers strong points for Japanese electric companies and what the next actions should be to reverse the decline.

Saiko Nakagawa,  "Systemic Risks in the Japanese Banking Sector"

“Systemic risk” has become a buzzword after the global financial crisis in 2007-08.  Due to its elusive nature, there have been active discussions among scholars, international organizations and national regulators on how to measure and address the risk in order to prevent the next crisis.  In her presentation, Nakagawa will introduce these recent discussions and argue the implications to Japan’s financial sector.

Masashi Suzuki, "Dismal Software Industry in Japan – Will It Be Disrupted or Will It Discover Its Own Way like U.S. Players?"

In his research, Suzuki provides an historical analysis of the software market in Japan and the United States as well as a comprehensive analysis of the status quo of these two countries. Are there ways to improve the unfavorable situation in Japan?  Suzuki attempts to provide an answer to this question in his research presentation. 

Bin Wang, "Innovation and New Venture Strategies in China"

In recent years, entrepreneurship has played an increasing role in promoting economic growth in China.  The Chinese government began to pay more attention to encourage entrepreneurship in order to reform the economic structure.  Wang’s research examines the characteristics of the emerging industry and reveals a positive relationship between innovation capabilities and growth of new venture.  He developed a framework to classify new venture strategies based on market characteristics and innovation capabilities, identified ten strategic types, and reviewed their impact on performance in new ventures in China.  Wang’s research attempts to provide important guidelines for venture capital to identify potential investment opportunities.  These guidelines will also help entrepreneurs to identify an appropriate strategy to pursue business opportunities in given situations. 

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Yasuaki Hanai Speaker NEC Corporation
Saiko Nakagawa Speaker Ministry of Finance, Japan
Masashi Suzuki Speaker Sumitomo Corporation
Bin Wang Speaker Infotech Ventures
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Economic Research on Elderly Health and Implications for Analysis of Aging China

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"Old while not affluent" situation, together with an unsustainable high investment rate and high dependency on foreign trade, spurs hot debates on the challenges of a fast-aging population and the exploitation of the second demographic dividend in today’s China. Literature related to elderly health in countries other than China often starts with medical concepts and then dwells on economic issues, mainly focusing on socioeconomic, behavioral, and environmental factors and their effects on the health of the elderly. This article reviews economic research on these topics and then discusses possible implications for the economic analysis of aging China.

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Asia Health Policy Program working paper # 34
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Dong-Wook Lee

Shorenstein APARC
Encina Hall C333
616 Serra Street
Stanford, CA 94305-6055

(650) 724-1320 (650) 723-6530
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2013 Visiting Scholar
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Dong-Wook Lee is a visiting scholar at the Walter H. Shorenstein Asia-Pacific Research Center (Shorenstein APARC).

Lee has worked for many different divisions at the Republic of Korea’s Ministry of Knowledge Economy, in various fields such as automobiles and shipbuilding, overseas resources development, inter-Korean economic cooperation, industrial complex development, and emerging industries policies, to name a few. At the ministry, he has played a central role in developing industry related policies, enhancing the competitiveness of Korea's industries, strengthening cooperation between North and South Korea, and promoting industrial convergence.

Before Lee came to Shorenstein APARC, he was a director general in charge of the Korea Trade-Investment Promotion Agency (KOTRA)’s Foreign Investor Support Office to attract foreign direct investment. He has served as a public official for more than 20 years since passing the Examination for Higher Civil Service (finance and economy) in 1991.

Lee acquired a BA in business management from Yonsei University and an MA in public administration from Seoul National University. He earned a PhD in economics from KonKuk University in February 2012.

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