Foreign Policy
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The world has undergone major drastic changes in the last two decades driven by several major factors, eg, explosion of human population and connectivity. Such changes seem further accelerated in recent years and it seems that our future becomes more uncertain and unpredictable. The Fukushima Nuclear Accident awakened us and led to creation of Independent Investigation Commission by the National Diet of Japan; The Commission Report revealed some of the fundamental issues of Japan’s nuclear policy. Meanwhile, multi-stakeholders’ engagement has become critical in various social affairs and in policy making domains within and across national boundaries, and has contributed in significant ways to affect the processes of addressing and impacting global agenda, such as climate change, food and water, energy, urbanization, biodiversity, human capital with shifting the balance of economy and power. In my view, the principles of our society may be changing quite fast heading somewhat differently from our conventional norm. The science community can and should contribute to these issues in nurturing future leaders, but in what way?

Kiyoshi Kurokawa is a graduate of University of Tokyo School of Medicine, trained in internal medicine and nephrology, in US 1969-84; Professor of Med, Dept Med ofUCLA Sch Med (79-84), Chair, Univ Tokyo Faculty of Med (89-96), Dean of Tokai Univ School of Med (96-02, President of Science Council of Japan (03-07), Science Advisor to Prime Minister (07-09), Board member of A*STAR (06-00), Bibliotheca Alexandria (04-08), Khalifa University (08- ), Okinawa Institute of Science and Tech (06- ), Global Science and Innovation Advisory Board of the Prime Minister of Malaysia (11-); President of Intl Soc Nephrology (97-99), Inst of Medicine of US Academies (92). Recently, chaired Fukushima Nuclear Accident Independent Investigation Commission by the National Diet of Japan (Dec 11-July 12). AAAS Scientific Freedom and Responsibility Award (2012), ‘100 Top Global Thinkers 2012” of Foreign Policy.

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Kiyoshi Kurokawa MD, President Speaker Science Council of Japan (2003-06)
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In recent years, China has had several confrontations with Vietnam, the Philippines and most recently Japan, over maritime sovereignty issues in the South and East China Seas. The popular press and specialists alike often portray these disputes as a clear indication of Beijing's growing willingness to coerce or intimidate its neighbors and disregard international norms and laws in the pursuit of its national objectives. Some observers associate Chinese behavior with a long-term strategic plan to dominate the Asia-Pacific. Dr. Michael D. Swaine, a senior associate in the Asia Program and a China national security specialist at the Carnegie Endowment for International Peace, will offer his interpretation of the interests, motives, and policies driving Chinese behavior in this potentially volatile area, and assess the implications for the United States and other Asian powers.

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Michael Swaine joined the Carnegie Endowment as a senior associate after twelve years at the RAND Corporation. He specializes in Chinese security and foreign policy, U.S.–China relations, and East Asian international relations. One of the most prominent U.S. analysts in Chinese security studies, he is the author of more than ten monographs on security policy in the region. At RAND, he was a senior political scientist in international studies and also research director of the RAND Center for Asia-Pacific Policy.

Swaine was appointed as the first recipient of the RAND Center for Asia-Pacific Policy Chair in Northeast Asian Security in recognition of the exceptional contributions he has made in his field.

Prior to joining RAND in 1989, Swaine was a consultant with a private sector firm; a postdoctoral fellow at the Center for Chinese Studies, University of California, Berkeley; and a research associate at Harvard University. He attended the Taipei and Tokyo Inter-University Centers for Language Study, administered by Stanford University, for training in Mandarin Chinese and Japanese.

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Michael Swaine Senior Associate Speaker Carnegie Endowment
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Donald K. Emmerson
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"As much as China is front and center for the United States and Asia, the American pivot is not all about the dragon. It is also very much about the 10 member states of ASEAN," says Donald K. Emmerson in a recent opinion article.
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U.S. Secretary of State Hillary Rodham Clinton (left) speaks with ASEAN Secretary General Surin Pitsuwan during a meeting at the ASEAN Secretariat in Jakarta, Indonesia, September 2012. | Flickr: U.S. Embassy Jakarta, Indonesia/U.S. State Dept.
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Gi-Wook Shin
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Korea's new presidential administration should embrace the opportunity to provide more foreign aid, and to raise the profile of Korean technology and culture abroad, said Gi-Wook Shin in a recent Dong-A Ilbo op-ed.
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South Korea has achieved significant economic, political, and technological growth in the past several decades. A nighttime view of Seoul's glittering skyline, December 2009. | Flickr user David Hepworth
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The road to the 18th Party Congress was contentious, leading to its delayed convocation. Nevertheless, the processes of generational turnover in China’s leadership at the Chinese Communist Party’s 18th National Congress extended patterns of formal politics that trace their roots to Deng Xiaoping’s political reforms of the 1980s, that advanced in the Jiang Zemin era in the 1990s, and that matured under outgoing General Secretary Hu Jintao in the 2000s.  As such, the transition in the party leadership at the 18th Congress marked another step forward in the institutionalization of Chinese leadership politics.

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Alice Lyman Miller is a research fellow at the Hoover Institution and teaches in the Departments of History and Political Science at Stanford. She is also a senior lecturer in the Department of National Security Affairs at the U.S. Naval Postgraduate School in Monterey, California.

Prior to coming to Stanford in 1999, Miller taught at the School of Advanced International Studies (SAIS) at Johns Hopkins University in Washington, D.C. from 1980–2000. From 1974–90, Miller worked in the Central Intelligence Agency as a senior analyst in Chinese foreign policy and domestic politics, and branch and division chief, supervising analysis on China, North Korea, Indochina, and Soviet policy in East Asia. Miller has lived and worked in Taiwan, Japan, and the PRC, and she speaks Mandarin Chinese.

Miller's research focuses on foreign policy and domestic politics issues in China and on the international relations of East Asia. She is editor and contributor to the Hoover Institution’s China Leadership Monitor, which has since 2001 offered online authoritative assessments of trends in Chinese leadership politics to American policymakers and the general public. Miller has published extensively on policy issues dealing with China, including several articles and book chapters, as well as two books: Science and Dissent in Post-Mao China: The Politics of Knowledge (University of Washington Press, 1996), and, with Richard Wich, Becoming Asia: Change and Continuity in Asian International Relations Since World War II (Stanford University Press, 2011). She is currently working on a new book, tentatively entitled The Evolution of Chinese Grand Strategy, 1550–Present, that brings a historical perspective to bear on China's rise in the contemporary international order.

Miller graduated from Princeton University in 1966, receiving a B.A. in Oriental Studies. She earned an M.A. and a Ph.D. in history from George Washington University in 1969 and 1974.  Formerly H. Lyman Miller, she transitioned in 2006.

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Alice Miller Research Fellow Speaker Hoover Institution
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The ability of governments to raise revenue to finance spending varies greatly across the industrialized democracies. Despite the prediction of the globalization thesis, variation in budget deficits and public debt has actually increased. While a developed literature has attempted to explain fiscal performance, there has been little attention to the role of that the welfare state might have.  Meanwhile, the welfare state literature has focused on welfare spending with less attention to how such spending is financed.  This presentation shows that the two are linked.  Governments can use taxes not only as a source of revenue but also as a means to achieve redistributive goals directly by targeting tax relief to specific groups.  Using quantitative data and a case study of Japan and Sweden, this study shows how governments combine welfare and tax policies, i.e., the “tax-welfare mix,” shapes their long-term extractive capacity.

Gene Park is an assistant professor in the department of political science at Loyola Marymount University (LMU).  Prior to arriving at LMU, he taught at Baruch College, City University of New York. Previously, Dr. Park was Shorenstein Fellow at Stanford University’s Walter H. Shorenstein Asia-Pacific Research Center and a visiting scholar at the Japanese Ministry of Finance’s Policy Research Institute.  He specializes in comparative political economy and has an area interest in Japan.  His research focuses on the politics of public spending and taxation.  He is the author of Spending without Taxation: FILP and the Politics of Public Finance in Japan (Stanford University Press, 2011). He is currently working on a comparative study of fiscal consolidation and a comparative study of state extractive capacity.

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

(650) 724-9747 (650) 723-6530
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Gene Park is a Shorenstein Postdoctoral Fellow at Shorenstein APARC for 2007-2008. Park is currently working on a book that analyzes how a large government system for mobilizing and allocating financial capital, the Fiscal Investment Loan Program, has influenced budget politics and the internal coalitional dynamics within the ruling Liberal Democratic Party (LDP).

His work has appeared in the journals Governance and Asian Survey, and he co-authored an article for the edited volume, The State after Statism (Harvard University Press). Dr. Park received a Fulbright scholarship to study in Japan. He has been a visiting scholar at the Japanese Ministry of Finance's Policy Research Institute and Sophia University in Tokyo.

Dr. Park completed his Ph.D. in 2007 in political science at University of California, Berkeley. He also holds a Masters in City and Regional Planning from Berkeley, and a B.A. in Philosophy from Swarthmore College.

Gene Park Assistant Professor in the department of Political Science Speaker Loyola Marymount University (LMU)
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These working papers on the South Korean economy are the product of an annual conference series on Korean affairs hosted by Stanford University's Korean Studies Program (KSP), and made possible by the generous support of the Koret Foundation. KSP's 2009–2010 Koret Fellow, Byongwon Bahk, a former vice finance minister and chief economic adviser to Korean president Lee Myung-bak, played a leading role in organizing the 2010 conference, authored a major paper, and co-edited this volume.

From Byongwon Bahk's preface:

The editors believe that the study of the South Korean economy holds, or should hold, interest not only for Koreans but also for Americans and the international community as a whole. Korea has become a major player in the global economy, ranking thirteenth in GDP and seventh in exports among the world's nearly 200 countries. This should no longer come as much of a surprise to consumers across the globe who use Korean cell phones, drive Korean cars, and, increasingly, enjoy Korean pop music and movies.

The Korean economy is also important as a leading model of development. In only two generations and despite national division and the devastation of civil war, South Korea has transformed itself from a largely agricultural economy to a world leader in manufacturing, which in turn facilitated its emergence as a dynamic democracy. The Korean experience holds many lessons for countries throughout the world as they also struggle to modernize in a highly competitive, globalized economy.

Korea's success in navigating the turmoil caused by the global financial crisis and recession of 2008–2009 is yet another reason for studying its economy. Despite its economy being an astounding 85 percent dependent on international trade, Korea has been among the world's leaders in recovering from the crisis. Korea owes that success in part to the very hard lessons it learned from the Asian financial crisis of 1997–1998.

The five chapters selected for this compendium focus on some of the timeliest and most important issues involving the Korean economy.

Papers included in this volume:

  1. "The Changing Global and Korean Economies" by Taeho Bark
  2. "An Odyssey of the Korean Financial System and the September 2008 Financial Shock" by Thomas F. Cargill
  3. "South Korea’s Official Development Assistance Policy Under Lee Myung-bak: Humanitarian or National Interest?" by Eun Mee Kim and Ji Hyun Kim
  4. "Policy Recommendations for the Korean Economy" by Byongwon Bahk
  5. "Economic Globalization and Expatriate Labor in Korea" by Gi-Wook Shin and Joon Nak Choi
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Gi-Wook Shin
Byongwon Bahk
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Former Henri H. and Tomoye Takahashi Senior Fellow in Japanese Studies at the Freeman Spogli Institute for International Studies
Former Professor, by courtesy, of Finance at the Graduate School of Business
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Takeo Hoshi was Henri and Tomoye Takahashi Senior Fellow at the Freeman Spogli Institute for International Studies (FSI), Professor of Finance (by courtesy) at the Graduate School of Business, and Director of the Japan Program at the Shorenstein Asia-Pacific Research Center (APARC), all at Stanford University. He served in these roles until August 2019.

Before he joined Stanford in 2012, he was Pacific Economic Cooperation Professor in International Economic Relations at the Graduate School of International Relations and Pacific Studies (IR/PS) at University of California, San Diego (UCSD), where he conducted research and taught since 1988.

Hoshi is also Visiting Scholar at Federal Reserve Bank of San Francisco, Research Associate at the National Bureau of Economic Research (NBER) and at the Tokyo Center for Economic Research (TCER), and Senior Fellow at the Asian Bureau of Finance and Economic Research (ABFER). His main research interest includes corporate finance, banking, monetary policy and the Japanese economy.

He received 2015 Japanese Bankers Academic Research Promotion Foundation Award, 2011 Reischauer International Education Award of Japan Society of San Diego and Tijuana, 2006 Enjoji Jiro Memorial Prize of Nihon Keizai Shimbun-sha, and 2005 Japan Economic Association-Nakahara Prize.  His book titled Corporate Financing and Governance in Japan: The Road to the Future (MIT Press, 2001) co-authored with Anil Kashyap (Booth School of Business, University of Chicago) received the Nikkei Award for the Best Economics Books in 2002.  Other publications include “Will the U.S. and Europe Avoid a Lost Decade?  Lessons from Japan’s Post Crisis Experience” (Joint with Anil K Kashyap), IMF Economic Review, 2015, “Japan’s Financial Regulatory Responses to the Global Financial Crisis” (Joint with Kimie Harada, Masami Imai, Satoshi Koibuchi, and Ayako Yasuda), Journal of Financial Economic Policy, 2015, “Defying Gravity: Can Japanese sovereign debt continue to increase without a crisis?” (Joint with Takatoshi Ito) Economic Policy, 2014, “Will the U.S. Bank Recapitalization Succeed? Eight Lessons from Japan” (with Anil Kashyap), Journal of Financial Economics, 2010, and “Zombie Lending and Depressed Restructuring in Japan” (Joint with Ricardo Caballero and Anil Kashyap), American Economic Review, December 2008.

Hoshi received his B.A. in Social Sciences from the University of Tokyo in 1983, and a Ph.D. in Economics from the Massachusetts Institute of Technology in 1988.

Former Director of the Japan Program at the Shorenstein Asia-Pacific Research Center
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KSP associate director David Straub joined a panel organized by The Korea Society on February 28 to discuss the opportunities and challenges facing the new South Korean government of President Park Geun-hye.

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President-elect Park Geun-hye of South Korea spoke at the Walter H. Shorenstein Asia-Pacific Research Center in 2009. | Rod Searcey
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