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Abstract

Taiwan’s domestic politics, particularly presidential elections, has been the main driver of the island’s relations with China for two decades. The 2016 elections, in which the Democratic Progressive Party, led by Dr. Tsai Ing-wen, won both the presidency and majority control of the Legislative elections, promises to be no exception. Although PRC intentions under President Xi Jinping are far from certain, some change from the state of play under the current Ma Ying-jeou administration seems fairly certain, with implications for U.S. policy.

 

Bio

Richard Bush is a Senior Fellow at the Brookings Institution and Director of its Center for Northeast Asian Policy Studies, and the Chen-Fu and Cecilia Yen Koo Chair in Taiwan Studies. He came to Brookings in July 2002 after nineteen years working in the US government, including five years as the Chairman and Managing Director of the American Institute in Taiwan. He is the author of a number of articles on U.S. relations with China and Taiwan, and of At Cross Purposes, a book of essays on the history of America’s relations with Taiwan, published in March 2004 by M. E. Sharpe. In the spring of 2005, Brookings published his study on cross-Strait relations, entitled Untying the Knot: Making Peace in the Taiwan Strait. In 2013, Brookings published his Uncharted Strait: The Future of China-Taiwan Relations.

 

This talk is co-sponsored by the Taiwan Democracy Project in the Center on Democracy, Development, and the Rule of Law and the U.S.-Asia Security Initiative in the Walter H. Shorenstein Asia-Pacific Research Center.

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richard bush taiwan talk flyer

 

Richard C. Bush Senior Fellow and Director, Center for East Asian Policy Studies Brookings Institution
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This paper studies how private information is incorporated into prices, using a unique setting from the eighteenth century that is closer to stylized models of price discovery than modern-day markets. Specifically, the paper looks at English securities traded in both London and Amsterdam. Private information reached Amsterdam through sailing boats that sailed only twice a week and in adverse weather could not sail at all. Results are consistent with a Kyle model in which informed agents trade strategically. Most importantly, the speed of information revelation in Amsterdam depended on the expected time until the private signal would become public.

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Journal Articles
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Journal of Political Economy
Authors
Peter Koudijs
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This half-day symposium will bring together scholars and practitioners to reconsider Taiwan's prospects for entry into the Trans-Pacific Partnership in light of the conclusion of negotiations in October 2015 and the election of a new president and legislature in Taiwan in January 2016. It will revisit the themes and conclusions of the Taiwan Democracy Project's 2013 annual conference.

9:00-9:15am: Introductions

9:15-11:00am. Panel 1: The Politics of Trade and Development in Taiwan

Stephen Tan, Vice President of the Cross-Strait Policy Association, Taipei

Kristy Hsu, Director, Taiwan ASEAN Studies Center, Chung Hua Institution for Economic Research, Taipei

Chung-ming Kuan, Chair Professor, Department of Finance and Director of CRETA at National Taiwan University, and former Minister of the National Development Council

Hung-mao Tien, President of the Institute for National Policy Research, and former Minister of Foreign Affairs, Taiwan

11:00-11:15. Break

11:15-12:45. Panel 2: International Perspectives on the TPP: Implications for Regional Development and Geopolitics

Vinod Aggarwal, Professor of Political Science and Faculty Affiliate of the Center for East Asian Studies, UC Berkeley

Nicholas Hope, Director of the China Program at the Stanford Center for International Development

Thomas Gold, Professor of Sociology and Faculty Affiliate of the Center for East Asian Studies, UC Berkeley

 

Audio Recording

 

CISAC Central Conference Room

Conferences
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What explains short-term fluctuations of stock prices? This paper exploits a natural experiment from the 18th century in which information flows were regularly interrupted for exogenous reasons. English shares were traded on the Amsterdam exchange and news came in on sailboats that were often delayed because of adverse weather conditions. The paper documents that prices responded strongly to boat arrivals, but there was considerable volatility in the absence of news. The evidence suggests that this was largely the result of the revelation of (long-lived) private information and the (transitory) impact of uninformed liquidity trades on intermediaries' risk premia.

 

 

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Journal Articles
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Journal of Finance
Authors
Peter Koudijs
Number
10.1111/jofi.12312
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Abstract 
Based on first-hand participant-observation, this talk will examine the culture, politics, and spatiality of the Sunflower Movement. Taiwan's most significant social movement in decades, the Sunflower Movement not only blocked the passage of a major trade deal with China, but reshaped popular discourse and redirected Taiwan's political and cultural trajectory. It re-energized student and civil society, precipitated the historic defeat of the KMT in the 2014 local elections, and prefigured the DPP's strong position coming into the 2016 presidential and legislative election season.
 
The primary spatial tactic of the Sunflowers-- occupation of a government building-- was so successful that a series of protests in the summer of 2015 by high school students was partly conceived and represented as a "second Sunflower Movement". These students, protesting "China-centric" curriculum changes, attempted to occupy the Ministry of Education building. Thwarted by police, these students settled for the front courtyard, where a Sunflower-style pattern of encampments and performances emerged. While this movement did not galvanize the wider public as dramatically as its predecessor, it did demonstrate the staying power of the Sunflower Movement and its occupation tactics for an even younger cohort of activists.
 
The Sunflower Movement showed that contingent, street-level, grassroots action can have a major impact on Taiwan's cross-Strait policies, and inspired and trained a new generation of youth activists. But with the likely 2016 presidential win of the DPP, which has attempted to draw support from student activists while presenting a less radical vision to mainstream voters, what's in store for the future of Taiwanese student and civic activism? And with strong evidence of growing Taiwanese national identification and pro-independence sentiment, particularly among youth, what's in store for the future of Taiwan's political culture? 
 

Speaker Bio

Ian Rowen in Legislative Yuan Ian Rowen in Taiwan's Legislative Yuan during the Sunflower Student Movement protest.

Ian Rowen is PhD Candidate in Geography at the University of Colorado, Boulder, and recent Visiting Fellow at the European Research Center on Contemporary Taiwan, Academia Sinica’s Institute of Sociology, and Fudan University. He participated in both the Sunflower and Umbrella Movements and has written about them for The Journal of Asian StudiesThe Guardian, and The BBC (Chinese), among other outlets. He has also published about Asian politics and protest in the Annals of the Association of American Geographers (forthcoming) and the Annals of Tourism Research. His PhD research, funded by the US National Science Foundation, the Fulbright Program, and the Taiwan Foundation for Democracy, has focused on the political geography of tourism and protest in China, Taiwan, and Hong Kong. 

 

Presentation Slides

Ian Rowen Doctoral Candidate University of Colorado Dept of Geography
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Writing for the National Bureau of Asian Research, Daniel Sneider examines Prime Minister Shinzo Abe’s recent attempts to revise Japan’s defense guidelines. He considers how these attempts may affect the Japanese domestic political landscape and the implications that Abe’s actions may have for key issues in the U.S.-Japan alliance, including the Trans-Pacific Partnership and U.S. military interests in Okinawa.

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Policy Briefs
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The National Bureau of Asian Research
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Daniel C. Sneider
Encina Hall E301616 Serra StreetStanford, CA94305-6055
(650) 723-6530
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shuichiro_nishioka_headshot_crop.jpg Ph.D.

Shuichiro Nishioka joins the Walter H. Shorenstein Asia-Pacific Research Center (Shorenstein APARC) during the 2015-16 academic year from the West Virginia University’s Department of Economics where he serves as an Associate Professor.

His research covers the broad issues on International Trade, Economic Development, and East Asian Economies. During his time at Shorenstein APARC, Nishioka will conduct research projects on the expanding inequality in China and Japan.

Nishioka previously affiliated for research and teaching at the Research Institute of Economy, Trade and Industry, the University of Pittsburgh and Hitotsubashi University. He contributes to articles to publications including the Journal of International Economics, the Journal of Development Economics, and European Economic Review.

Nishioka holds a PhD and an MA in Economics from the University of Colorado at Boulder, and a BA in Economics from Yokohama National University. 

Visiting Scholar
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Abstract

The Trans-Pacific Partnership (TPP) is widely regarded as the economic component of the US strategy of “rebalance” to Asia. As a major trading partner of many of the founding members, Taiwan has obvious economic and security interests at stake and is therefore seeking to join the TPP in the next round. But an overlooked aspect of the TPP for Taiwan is its potential impact on sovereignty. Trade agreements provide a revealing window into the evolving conceptions of modern sovereignty. The way Taiwan’s unique form of statehood and international status is defined in trade agreements could strengthen its position under international law and contribute to its national security. This talk will consider how Taiwan was defined as a sui generis legal entity in its application to join the World Trade Organization (WTO) and as a party to the Cross-Straits Economic Cooperation Framework Agreement (ECFA), with lessons for future negotiations to join the TPP.   

 

Speaker Bio

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Joseph Yen-ching Chao
Joseph Yen-ching Chao is an Executive Officer in the Department of International Cooperation and Economic Affairs. A member of Taiwan’s Ministry of Foreign Affairs (MOFA) diplomatic corps since 2005, he has previously served as a German-language interpreter for the Presidential Office, an officer in the Department of Treaty and Legal Affairs, and as a deputy secretary of Taiwan’s permanent mission to the World Trade Organization in Geneva, Switzerland.  He holds an LL.M. from Ruprecht-Karls University in Heidelberg and a Doctor juris from Albert-Ludwige University, Frieberg, Germany. Dr. Chao is in residence at Stanford from May-July 2015, where his research examines Taiwan’s prospects for entry into the Trans-Pacific Partnership (TPP).

 

This event is hosted by the Taiwan Democracy Project.

TPP and Taiwan
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Joseph Yen-ching Chao Visiting Fellow Ministry of Foreign Affairs, Republic of China (Taiwan)
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