Stanford University

The Future of Mobile Internet Japan: Lessons from the 2011 Disaster

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Japan Colloquium Series

KDDI is a leading telecommunications firm in Japan. Japan’s mobile Internet market has been the most highly developed in the world since the late 1990s, and KDDI has been a major innovator in providing services and a platform for content. The advent of smartphones is rapidly transforming the industry, and Mr. Tadashi Onodera will be looking into the future while reflecting on lessons learned from the 3-11 2011 triple disaster— earthquake, tsunami, and nuclear disaster—that hit Japan. 

Tadashi Onodera has been chairman of KDDI Corporation since June 2005. He held the position of president from June through November 2010. KDDI was established in October 2000 through the merger of the DDI, KDD, and IDO Corporations.

Onodera joined DDI in November 1984, just before the Japanese telecommunications market was deregulated. Since then he has been involved in a wide variety of projects, such as the construction of a nationwide microwave network and the development of cellular phone networks. He has spent a lot of time and energy in the implementation of CDMA technology and mobile data services. He has received the “Industry Leadership” of 2005 3G CDMA Industry Achievement Award.

Co-sponsored by the Stanford US-Asia Technology Management Center

Skilling Auditorium
494 Lomita Mall
Stanford University

Tadashi Onodera Chairman Speaker KDDI Corporation
Seminars
Japan Colloquium Series
Information Technology in Japan and Asia

Post-Catastrophe Japan: Economic and Political Prospects

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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.

Philippines Conference Room

Richard B. Katz Editor Speaker The Oriental Economist Report
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Japan Colloquium Series

Expulsions: Inequality's Fifth Circle

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In the last two decades there has been a sharp growth in the numbers of people that have been “expelled,” numbers far larger than the newly “incorporated” middle classes of countries such as India and China. I use the term “expulsion” to describe a diversity of conditions: the growing numbers of the abjectly poor, of the displaced in poor countries who are warehoused in formal and informal refugee camps, of the minoritized and persecuted in rich countries who are warehoused in prisons, of workers whose bodies are destroyed on the job and rendered useless at far too young an age, able-bodied surplus populations warehoused in ghettoes and slums. One major trend is the repositioning of what had been framed as sovereign territory, a complex conditions, into land for sale on the global market – land in Sub-Saharan Africa, in Central Asia and in Latin America to be bought by rich investors and rich governments to grow food, to access underground water tables, and to access minerals and metals. My argument is that these diverse and many other kindred developments amount to a logic of expulsion, signaling a deeper systemic transformation in advanced capitalism, one documented in bits and pieces but not quite narrated as an overarching dynamic that is taking us into a new phase of global capitalism. The paper is based on the author’s forthcoming book Expulsions.


Saskia Sassen is the Robert S. Lynd Professor of Sociology and Co-Chair, The Committee on Global Thought, Columbia University (www.saskiasassen.com). Her recent books are Territory, Authority, Rights: From Medieval to Global Assemblages (Princeton University Press 2008), A Sociology of Globalization (W.W.Norton 2007), both translated into Spanish by Editorial Katz (Madrid y Buenos Aires), and the 4th fully updated edition of Cities in a World Economy (Sage 2012). Among older books is The Global City (Princeton University Press 1991/2001). Her books are translated into over 20 languages. She is the recipient of diverse awards and mentions, ranging from multiple doctor honoris causa to named lectures and being selected as one of the 100 Top Global Thinkers of 2011 by Foreign Policy Magazine.

Recommended readings:

 

Sponsored by The Europe Center, the Abassi Program in Islamic Studies, and the Mediterranean Studies Forum

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Saskia Sassen Robert S. Lynd Professor of Sociology and Co-Chair of the Committee on Global Thought Speaker Columbia University
David Palumbo-Liu Professor and Director of Comparative Literature and Director of the Asian American Studies Program Speaker Stanford University
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Worldwide Inflation and International Monetary Reform: Exchange Rates or Interest Rates?

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Ronald I. McKinnon is an applied economist whose primary interests are international economics and economic development-with strong secondary interests in transitional economies and fiscal federalism. Understanding financial institutions in general, and monetary institutions in particular, is central to his teaching and research. His interests range from the proper regulation of banks and financial markets in poorer countries to the historical evolution of global and regional monetary systems. His books, numerous articles in professional journals, and op-eds in the financial press such as The Economist, The Financial Times, and The Wall Street Journal reflect this range of interests.

 

 

Event Summary

Professor McKinnon first outlines the two major assumptions behind his paper (available on this page). First, that from December 2008 to August 2011, an inflow of "hot money" to emerging economies resulted from low U.S., European, and Japanese interest rates. Since then, the trend has reversed in the wake of the European banking crisis and bank lending has fallen. Second, the dollar remains the widespread central bank reserve currency despite instability in the U.S. system. 

 

McKinnon voices concern about Federal Reserve Chairman Ben Bernanke's zero interest rate policy, calling it an overreaction to the crisis and a "lose-lose" policy as it deters investment in the U.S. while simultaneously spurring destabilizing hot money flows to surrounding emerging markets. These countries are in turn forced to suppress interest rates to mitigate the inflows, and to build up dollar reserves to keep exchange rates in check. The zero interest rate policy also stimulates carry trades in commodities by speculators.

 

The belief that under a zero interest rate regime, inflation will stimulate the economy by bringing real interest rates to negative levels, is misplaced in McKinnon's view. He argues that this simply adds uncertainty and interferes with efficient bank intermediation, as banks hold high excess reserves and tighten lending, causing a procyclical contraction as has been seen in the United States and Europe. He contrasts this approach with China, which stabilized its economy following the “dot-com” bust by expanding rather than contracting bank credit. He criticizes U.S. pressure on China to appreciate or float its currency, asserting that these strategies would fail to reduce China's trade surplus.

 

McKinnon suggests that international reforms should target interest rates instead of exchange rates.  He recommends coordination between central banks of the major industrialized countries, especially the United States, European countries, and Japan - to collectively raise interest rates to approximately 2%. This would improve overall bank intermediation, and would benefit both central and peripheral countries in Europe.

 

A question and answer session following the talked addressed topics including: the likelihood of a coordinated effort between central banks; the potential effects of Kucinich's monetary reform proposal; the potential negative effects on real growth from carry trades, and whether this is a cause for concern; and the effects of bank borrowing trends in Europe on the European monetary system.

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Ronald I. McKinnon

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

(650) 723-9741 (650) 723-6530
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William D. Eberle Professor of International Economics
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Ronald McKinnon is the William D. Eberle Professor of International Economics at Stanford University. Currently, he is researching trade and financial policy in less-developed countries, the transition from socialism in Asia and Eastern Europe, the foreign exchange market and U.S.-Japan trade disputes, European monetary unification and international monetary reform, and the economics of market-preserving federalism.

Recent books by McKinnon include The Order of Economic Liberalization: Financial Control on the Transition to a Market Economy, 2nd edition (1993); The Rules of the Game: International Money and Exchange Rates (1996); and Dollar and Yen: Resolving Economic Conflict between the United States and Japan (with K. Ohno, 1997). Recent (1997) articles include "Credible Liberalizations and International Capital Flows: The Overborrowing Syndrome" (with H. Pill); "The East Asian Dollar Standard, Life after Death?" (1999); and "The Syndrome of the Ever-Higher Yen: American Mercantile Pressure on Japanese Monetary Policy" (with K. Ohno and K. Shirono, 1999). McKinnon teaches international trade and finance, economic development, money and banking, and financial control in developing and transitional socialist economies.

Ronald I. McKinnon William D. Eberle Professor of International Economics (Emeritus) Speaker Stanford University
Seminars
European and Global Economic Crisis Series

Stable peninsula important to China's economy

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Sang-Hun Choe
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North Korea is launching several joint mining projects with China and Russia, including copper and coal, which will help boost its economy. David Straub, associate director of the Korean Studies Program, spoke with the New York Times about how China's policy toward North Korea is influenced by its own economic interests.
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China's Changing Media Landscape

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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.

Bechtel Conference Center

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Shorenstein Journalism Award

Huang Jianli discusses experience as Lee Kong Chian Fellow

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Jianli Huang visited Stanford University during the spring quarter while serving as the 2010-11 Lee Kong Chian Fellow at the Southeast Asia Forum. Jointly sponsored by Stanford and the National University of Singapore (NUS), the fellowship was established in 2007 to promote scholarship on contemporary Southeast Asia. Huang recently spoke with NUS about his experience at Stanford and about the research that he is conducting on Singapore entrepreneur and philanthropist Lee Kong Chian.
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Women, War & Peace series -- Screening of Peace Unveiled

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Co-sponsored by Clayman Institute for Gender Research, McCoy Family Center for Ethics in Society, Philanthropy & Civil Society, and the Social Entrepreneurship Program (CDDRL).

Come to EAST House for another installment of the 5-part Women, War & Peace series! Join us for a screening of Peace Unveiled, a captivating story of how three women in Afghanistan are risking their lives to ensure women's rights amidst peace negotiations with the Taliban.

 Directly after the screening, stay for an engaging conversation with Kavita Ramdas, former President and CEO of the Global Fund for Women, and Professor Christine Min Wotipka from the Stanford School of Education.  

Learn more about Peace Unveiled.

When: Thursday October 27, 7:00-9:00 PM

Where: Education and Society Theme House (EAST)

RSVP at east.stanford.edu

 Refreshments will be served.

 

Education and Society Theme House (East)

Kavita N. Ramdas Speaker

Christine Min Wotipka

520 Galvez Mall
Graduate School Of Education Stanford University
Stanford CA 94305-3001

650.736.1392
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Associate Professor (Teaching), Graduate School of Education
Associate Professor (Teaching) (By courtesy), Sociology
CDDRL Affiliated Faculty
wotipka.jpg PhD

Christine Min Wotipka is Associate Professor (Teaching) of Education and (by courtesy) Sociology and Director of the Master’s Programs in International Comparative Education (ICE) and International Education Policy Analysis (IEPA) at the Stanford Graduate School of Education. She is Co-Resident Fellow and Co-Founder of EAST House — the Equity, Access, & Society Theme House.

Dr. Wotipka’s research contributes to the comparative scholarship in gender, diversity, leadership, and higher education and has been supported by the National Science Foundation and the Spencer Foundation. Her articles have appeared in such journals as Social Forces, Sociology of Education, Gender & Society, Sociological Forum, and Comparative Education Review.

Before joining the faculty at Stanford in 2006, Dr. Wotipka was a visiting assistant professor/global fellow at the University of California, Los Angeles, and an assistant professor at the University of Minnesota-Twin Cities. Between her undergraduate and graduate studies, she proudly served as a United States Peace Corps volunteer in rural northeast Thailand and worked in the Republic of Korea at an economic research firm. Among Dr. Wotipka’s professional activities, she has consulted on girls' education policies for the Ministry of Education in Afghanistan.

Dr. Wotipka earned her BA (summa cum laude) in International Relations and French at the University of Minnesota-Twin Cities, and MA in Sociology and Ph.D. in International Comparative Education at Stanford University.

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