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Japan Colloquium Series Inaugural Event  
 

Japan is facing a major set of challenges in the aftermath of its triple disaster of earthquake, tsunami, and nuclear crisis. It had just begun recovering from the 2008 global financial crisis when the disasters hit. Richard Katz will discuss the economic and political prospects for Japan after this catastrophe in a broader global context. He will also be presenting lessons from Japan for U.S. policymakers fighting the current slump. 
 

Richard Katz is editor of the Oriental Economist Report, a monthly newsletter on Japan, as well as the semi-weekly TOE Alert e-mail service on Japan. He is also a special correspondent at Weekly Toyo Keizai, a leading Japanese business weekly. Katz is the author of two books on Japan. The first is Japan: The System That Soured--The Rise and Fall of the Japanese Economic Miracle (M.E. Sharpe,1998); it was published in a Japanese edition as Kusariyuku Nihon To Iu System (Toyo Keizai, 1999). His second book, entitled Japanese Phoenix: The Long Road to Economic Revival (M.E. Sharpe, 2002), was published in English, and in Japanese as Fushicho no Nikon Keizai (Toyo Keizai). Katz has taught about Japan as an adjunct professor in economics at the State University of New York at Stony Brook and at the New York University Stern School of Business. He regularly writes op-eds for newspapers such as the Asian Wall Street Journal and the Financial Times, as well as essays for a variety of journals, including the article “The Japan Fallacy?” for the March-April 2009 issue of Foreign Affairs. He has testified about in Japan in Congress on several occasions. Katz received his MA in economics from New York University in 1996.

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Richard B. Katz Editor Speaker The Oriental Economist Report
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PLEASE NOTE VENUE CHANGE

In association with the annual Shorenstein Journalism Award for Asia, conferred this year on China's pioneering Caixin Media group, this panel will look at the current state and the future of the Chinese media. The Chinese state continues to play a powerful role in controlling the media and the free flow of information to the Chinese people. But China's media is undergoing rapid change, from the growing role of social media to the proliferation of new publications, some of which, like Caixin, are challenging the boundaries of state control. Which will win in China's changing media landscape—the forces of the market, state censorship, or quality journalism?

PANELISTS

Hu Shuli, editor-­in-chief of Caixin Media, and dean of the School of Communications and Design at Sun Yat-sen University, has a distinguished career that spans both print and broadcast journalism. Hu is a former Stanford Knight Journalism Fellow (1994) and a recipient of the Louis Lyons Award for Conscience and Integrity in Journalism (2007). She is frequently named on annual Who’s Who lists by publications such as Foreign Policy and Time Magazine.

Wang Shuo, managing editor of Caixin Media, was ranked among China’s top 10 young editors in 2011. He is a former international editor for People’s Daily, a Chinese government-run newspaper published nationally. Recognized as one of the brightest rising stars in his field, Wang was named as a Young Leader in 2007 and 2008 by the Boao Forum for Asia, and as a media leader by the World Economic Forum. He has led the investigative journalism teams at Caixin.

Orville Schell is the Arthur Ross Director at the Asia Society Center on U.S.-China Relations, and is also a former jury member for the Pulitzer Prize for International Reporting. He has written extensively on China, and was awarded the 1997 George Peabody Award for producing the groundbreaking documentary the Gate of Heavenly Peace. He received the Shorenstein Journalism Award in 2003.

Hu Ben, a journalist with Southern Weekend, is the current Lyle and Corrine Nelson International Knight Fellow at Stanford. He started his journalism career in 2005, when he joined a writer's network blogging about international affairs not covered by official media. At Southern Weekend, he has written about how Chinese government works, how public policies are made, and how information flows inside the government.

Daniel Sneider serves as the associate director for research at Shorenstein APARC and also as a research associate with the prestigious National Asia Research Program. He frequently contributes articles to publications such as Foreign Policy, Asia Policy, and Slate and had three decades of experience as a foreign correspondent and editor for publications including the Christian Science Monitor and the San Jose Mercury News. 

ABOUT THE AWARD

The Shorenstein Journalism Award was launched in 2002 to recognize the contributions of Western journalists in deepening our understanding of Asia. In 2011, the recipients of the award have been broadened to encompass Asian journalists who are at the forefront of the battle for press freedom in Asia and who have played a key role in constructing a new role for the media, including the growth of social media and Internet-based journalism. The award will also identify those Asian journalists who, from that side of the Pacific Ocean, have aided the growth of mutual understanding between Asia and the United States.

Carrying a cash prize of $10,000, the award was named after Walter H. Shorenstein, the philanthropist, activist, and businessman who endowed two institutions that are focused respectively on Asia and on the press: Shorenstein APARC in the Freeman Spogli Institute at Stanford University, and the Joan Shorenstein Center on the Press, Politics, and Public Policy in the Kennedy School of Government at Harvard University.

Read the 2011 Shorenstein Journalism Award press release for more details about Caixin and about the history of the award.

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As the new academic year gets underway, the Walter H. Shorenstein Asia-Pacific Research Center’s (Shorenstein APARC) Corporate Affiliates Program is excited to welcome its new class of fellows to Stanford University:

  • Minoru Aosaki, Ministry of Finance, Japan
  • Kazuma Fukai, Kansai Electric Power Company, Japan
  • Katsunori Hirano, Shizuoka Prefectural Government, Japan
  • Young Muk Jeon, Samsung Life Insurance, Republic of Korea
  • Yasunori Kakemizu, Sumitomo Corporation, Japan
  • Yuji Kamimai, Sumitomo Corporation, Japan
  • Hideaki Koda, Mitsubishi Electric, Japan
  • Jong Jin Lee, Samsung Electronics, Republic of Korea
  • Masami Miyashita, Ministry of Economy, Trade, and Industry, Japan
  • Prashant Pandya, Reliance Life Sciences, India
  • Ramnath Ramanathan, Reliance Life Sciences, India
  • Yoshimasa Waseda, Japan Patent Office, Japan

Corporate Affiliates Fellows are already busy auditing classes, strengthening their English skills, and beginning to conduct individual research projects. In consultation with a noted Shorenstein APARC scholar or subject expert, each fellow will refine and present their research at a public seminar in May.

Fellows will take part in other special Corporate Affiliates Program seminars and Shorenstein APARC conferences and events, affording them the opportunity to interact with faculty and students from across the Stanford community. Throughout the year, they will also gain firsthand insight into American business, everyday life, and culture by visiting numerous companies and public institutions in the San Francisco Bay Area, including: Facebook, the Palo Alto Police Department, San Francisco City Hall, and many others.

Visit the Corporate Affiliates website during the coming year for interviews with current and alumni Fellows and descriptions of various site visits.

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2011-12 class of Corporate Affiliates Fellows
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STANFORD, Calif.—Stanford University’s Walter H. Shorenstein Asia-Pacific Research Center (Shorenstein APARC) is pleased to announce China’s Caixin Media as the recipient of the 2011 Shorenstein Journalism Award. Caixin was selected for its commitment to integrity in journalism, and for its path-breaking role as a leader in establishing an independent media in China.

The Shorenstein Journalism Award was launched in 2002 to recognize the contributions of Western journalists in deepening our understanding of Asia. In 2011, the recipients of the award have been broadened to encompass Asian journalists who are at the forefront of the battle for press freedom in Asia and who have played a key role in constructing a new role for the media, including the growth of social media and Internet-based journalism. The award will also identify those Asian journalists who, from that side of the Pacific Ocean, have aided the growth of mutual understanding between Asia and the United States.

Asia has served as a crucible for the role of the press in democratization in places such as South Korea, Taiwan, India, Pakistan, and Indonesia. It has also figured greatly in the emergence of social media and citizen journalism. New tests of the role of the media are emerging in China, Vietnam, and other authoritarian societies in Asia. The Shorenstein Journalism Award aims to encourage the understanding of key issues facing the media in Asia, among them whether the Internet will be a catalyst for change or an instrument of authoritarian control.

The decision to name Caixin Media as the first recipient of this award in Asia is a recognition of the leadership role of a group of young journalists, led by a visionary editor, since their founding of Caijing magazine in 1998. The core group moved on in November 2009 to found Caixin Media in an effort to preserve their independence in a media environment dominated by the state in China. The company is based in Beijing and is guided by an independent advisory board of noted Chinese and foreign intellectuals and academics. The Caixin team has achieved renown for its coverage of the profound economic and social changes taking place in China and its willingness to dig into the darker corners of that change. In recent months, Caixin has probed into the errors that led to the crash of a high-speed train in China, and investigated the seizure and sale of children by family planning officials in Hunan province.

Hailed by the Economist as “one of China’s more outspoken media organizations,” Caixin is internationally recognized for its tough-minded investigative reporting. In 2011, Caixin editor-in-chief Hu Shuli was named one of Time Magazine’s Top 100 Influential People, and managing editor Wang Shuo was ranked among China’s top 10 young editors.

Caixin publishes several leading print and online publications, including the weekly business and finance magazine Caixin Century, the monthly periodical China Reform, the bimonthly journal Comparative Studies, and the English-language Caixin Weekly: China Economics and Finance. Caixin’s numerous other offerings include a Chinese- and English-language news portal Caixin.cn, a publication series, video programming, an international journalism fellowship program, and extensive use of social media.

On December 7, Hu and Wang will visit Stanford to accept the Shorenstein Journalism Award. They will participate in a daytime public panel discussion on the future of China’s independent media, joining acclaimed China historian and former Pulitzer Prize jury member Orville Schell, Shorenstein APARC associate director for research Daniel C. Sneider, and other noted Asia specialists. That evening, Hu and Wang will receive a cash prize of $10,000 during a dinner and award ceremony.

Hu’s distinguished career spans both print and broadcast journalism. She is a former Stanford Knight Journalism Fellow (1994), and, in addition to her role as Caixin’s editor-in-chief, currently serves as dean of the School of Communications and Design at Sun Yat-sen University. A recipient of the 2007 Louis Lyons Award for Conscience and Integrity in Journalism, Hu is frequently named on annual Who’s Who lists by publications such as Foreign Policy.

Wang is a former international editor for People’s Daily, a Chinese government-run newspaper published nationally. Recognized as one of the brightest rising stars in his field, Wang was named as a Young Leader in 2007 and 2008 by the Boao Forum for Asia, and as a media leader by the World Economic Forum. He has led the investigative journalism teams at Caixin.

About the Award

Established in 2002, the Shorenstein Journalism Award carries a cash prize of $10,000 and honors a journalist not only for a distinguished body of work, but also for the particular way that work has helped American readers to understand the complexities of Asia. The award was named after Walter H. Shorenstein, the philanthropist, activist, and businessman who endowed two institutions that are focused respectively on Asia and on the press: Shorenstein APARC in the Freeman Spogli Institute at Stanford University, and the Joan Shorenstein Center on the Press, Politics, and Public Policy in the Kennedy School of Government at Harvard University.

The award was originally designed to honor distinguished American journalists for their work on Asia, including veteran correspondents for leading American media such as the New York Times, the Washington Post, Newsweek, NBC News, PBS, and the Wall Street Journal. Past recipients include Stanley Karnow, Orville Schell, Don Oberdorfer, Nayan Chanda, Melinda Liu, John Pomfret, Ian Buruma, Seth Mydans, and Barbara Crossette.

Shorenstein APARC believes that it is vital to continue the Shorenstein Journalism Award, not only to honor the legacy of Walter H. Shorenstein and his twin passions for Asia and the press, but also to promote the necessity of a free and vibrant media for the future of relations between Asia and the United States. Moreover, as we have seen recently in the Middle East, a free press, not only in its traditional forms of print and broadcast but now also via the Internet and new avenues of social media, remains the essential catalyst for the growth of democratic freedom. The award is given annually based on the deliberations and decision of a distinguished jury whose members include:

Ian Buruma, the Henry R. Luce Professor of Democracy, Human Rights, and Journalism at Bard College, is a noted Asia expert who frequently contributes to publications including the New York Times, the New York Review of Books, and the New Yorker. He is a recipient of the Shorenstein Journalism Award and the international Erasmus Prize (both in 2008). 

Nayan Chanda, director of publications at the Yale Center for the Study of Globalization, served for nearly 30 years as editor, editor-at-large, and correspondent for the Far Eastern Economic Review. He was honored with the Shorenstein Journalism Award in 2005.

Susan Chira, assistant managing editor for news and former foreign editor of the New York Times, has extensive Asia experience, including serving as Japan correspondent for the Times in the 1980s. During her long tenure as foreign editor, the Times twice won the Pulitzer Prize for International Reporting (2009 and 2007).

Donald K. Emmerson, a well-respected Indonesia scholar, serves as director of Shorenstein APARC’s Southeast Asia Forum and as a research fellow for the prestigious National Asia Research Program (NARP). Frequently cited in the international media, Emmerson also contributes op-eds to leading publications such as the Asia Times.

Orville Schell is the Arthur Ross Director at the Asia Society Center on U.S.-China Relations, and is also a former jury member for the Pulitzer Prize for International Reporting. He has written extensively on China, and was awarded the 1997 George Peabody Award for producing the groundbreaking documentary the Gate of Heavenly Peace. He received the Shorenstein Journalism Award in 2003.

Daniel C. Sneider serves as the associate director for research at Shorenstein APARC and also as a NARP research associate. He frequently contributes articles to publications such as Foreign Policy, Asia Policy, and Slate and had three decades of experience as a foreign correspondent and editor for publications including the Christian Science Monitor and the San Jose Mercury News.  

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Newsstand in Shanghai, July 2010.
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Edmund J. Malesky will argue that openness to foreign investment can have differential effects on corruption, even within the same country and under the same domestic institutions over time. Rather than interpreting bribes solely as a coercive “tax” imposed on business activities, he allows for the possibility that firms may themselves be complicit in using bribes to enter protected sectors or gain access to lucrative procurement contracts.  The propensity to bribe across sectors should vary with expected profitability related to investment restrictions. Thus, the linkage of foreign investment to corruption should increase dramatically as firms seek to enter restricted and uncompetitive sectors that offer higher rents. Malesky demonstrates this effect using a nationally representative survey of 10,000 foreign and domestic businesses in Vietnam. He also shows how the impact of domestic reforms and economic openness is affected by policies that restrict competition by limiting entry into a given sector.

Edmund Malesky is an associate professor of political science at the Graduate School of International Relations and Pacific Studies at the University of California, San Diego. He has published in leading political science and economic journals, including the American Political Science Review and the Journal of Politics, and has been awarded the Harvard Academy Fellowship and Gabriel Almond Award for best dissertation in comparative politics. Malesky serves as the lead researcher for the Vietnam Provincial Competitiveness Index and Cambodian Business Environment Scorecard.

For more information please see the event web page.

Graham Stuart Lounge

Edmund J. Malesky Associate Professor, Graduate School of International Relations and Pacific Studies Speaker the University of California, San Diego
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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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The Shorenstein Asia Pacific Research Center and the Division of International, Comparative, and Area Studies are excited to offer highly qualified Stanford students an opportunity to extend classroom knowledge of East Asia to real-life working and cultural experiences through the East Asia Internship Program. Internship positions will cover a wide spectrum of business, non-profit, media, educational, medical, technology, and government activities.
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A roof detail in a Beijing hutong, Dec. 2007.
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Political economist Phillip Lipscy spoke recently with Estrategia, a leading Chilean finance and business publication, about the politics of the financial crisis in the Euro Area, as well as what kind of implications it might have for the U.S. and Chinese economies. (Spanish-language interview)
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Corporate Affiliate Visiting Fellow
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Prashant Pandya is a corporate affiliate visiting fellow at Shorenstein APARC for 2011-12.  Prior to joining Shorenstein APARC, he has worked for Reliance Life Sciences at Navi Mumbai (India) as a Deputy General Manager.

He has over 12 years of experience in various fields such as first in human studies, stem cell research, phase-II-IV, bioequivalence and QTC studies. He has monitored and conducted more then 100 national and global studies and has hands-on experience in the complete drug development process. He is a qualified Pharmacist, certified Project Manager & clinical research professional with post-graduate work in pharmaceutical & business management. Prior to joining Reliance Life Sciences, he was associated with India’s leading pharmaceutical and Contract Research Organizations such as Ranbaxy & Cadila.

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Corporate Affiliate Visitng Fellow
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Masami Miyashita is a corporate affiliate visiting fellow at Shorenstein APARC for 2011-12.  Prior to joining Shorenstein APARC, he held positions at the Ministry of Economy, Trade and Industry, Japan (METI) for about 12 years, where he took charge of policy making.  His latest position at METI was as deputy director for New Business Policy Office.  He graduated from Tohoku University in Engineering.

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