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While attending the 2011 ASEAN Summit in Bali, SEAF director Donald K. Emmerson wrote in the Asia Times about the balance between the respectively economic and security roles that China and the United States play in East Asia.
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Human trafficking is a global phenomenon that each year forces millions into lives as prostitutes, laborers, child soldiers, and domestic servants. Traffickers prey on the weak and vulnerable, targeting young victims with promises of a better life. This modern form of slavery impacts every continent and type of economy, while the industry continues to grow with global profits reaching nearly $32 billion annually. In spite of these mounting figures, prosecution and conviction rates are not increasing relative to the surge in these crimes. According to the U.S. State Department, for every 800 people trafficked in 2006, only one person was convicted.

As the size and scope of human trafficking increase, less is known about the root causes of human trafficking on this new scale. A better understanding of the conditions that give rise to human trafficking – income inequality, rural poor populations, cultural norms, and gender disparities – will bring the international community closer to curbing the growth of this criminal industry. Understanding how multi-lateral institutions – from the World Bank to the United Nations – may unwittingly encourage the industry will lead to more informed policies for its eradication.

The Program on Human Rights (PHR) at the Center on Democracy, Development, and the Rule of Law is launching a new research initiative on human trafficking to address these challenges and generate new knowledge on this issue of international concern. Working in collaboration with Stanford faculty and students, this project will draw on research underway across the university to create a forum on human trafficking. The goal is to produce collaborative research and policy recommendations to better address the multiple dimensions of human trafficking.

"This research collaborative will shift the agenda on human trafficking from one that has adopted a criminal-legal paradigm to one that focuses on all the pre-conditions for trafficking," said Helen Stacy, director of the Program on Human Rights. "Interdisciplinary tools drawing on law, health, gender, and psychology will introduce an integrated approach to this critical area of study."

The speaker series will begin Dec. 12 at a private research workshop featuring Madeleine Rees, the United Nation's representative in post-genocide Bosnia, and Laryssa Kondracki, director of The Whistleblower. Rees is known for her efforts to expose the U.N. for its failure to shut down brothels in Bosnia where they were actively used for human trafficking. The Whistleblower documents this story and helped ignite a debate at the U.N. over this problem.

The Dec. 12 workshop will bring together a multidisciplinary group of Stanford faculty, researchers, and students working on aspects of human trafficking in preparation for the launch of the 2012 speakers series offered in the winter quarter. The 2012 roster of speakers represent a diverse group of those advancing research, policy and activism on human trafficking.

Participants include: Rosi Orozco, Mexican congressional representative and anti-trafficking leader; Bradley Myles, executive director and CEO of Polaris-USA; and Dr. Mohammed Mattar, executive director of the Protection project at Johns Hopkins Univeristy. Stanford researchers will be paired with speakers to pursue original research on the causal factors impacting this field of study. 

The 2012 Human Trafficking is Global Slavery speakers series is funded by Diana Jenkins, founder of the Sanela Diana Jenkins Foundation for Bosnia and Herzegovina.

The series is free and open to the public. It will meet on Tuesdays from Jan. 10 to Mar. 13 at the Bechtel Conference Center at Encina Hall, Stanford. It is available to Stanford students as a 1-unit course cross-listed under INTNLREL 110, IPS 271, and POLISCI204.

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AMERICAN ACADEMY

OF ARTS & SCIENCES

Cordially invites you to the 1979th Stated Meeting


The Future of the Military

Wednesday, December 7, 2011

6:00 p.m. Program ~ Reception to follow

Karl Eikenberry

Former U.S. Ambassador to Afghanistan and U.S. Army Lt. General (ret.)

Payne Distinguished Lecturer, Freeman Spogli Institute for 
International Studies at Stanford University

David M. Kennedy

Donald J. McLachlan Professor of History, Emeritus, Stanford University

William J. Perry

Michael and Barbara Berberian Professor; Codirector of the Preventive Defense Project;
Senior Fellow, Freeman Spogli Institute for International Studies, Stanford University

James Sheehan

Dickason Professor in the Humanities; 
Professor of Modern European History, Emeritus, Stanford University

Introduction

John Hennessy

President, Stanford University

Stanford Faculty Club 
439 Lagunita Drive

Please RSVP by December 1.

Register online at https://www.amacad.org/events/cEventRegForm.aspx?id=80
For questions, contact Audrey Blanchette: 617-576-5032 or mevents@amacad.org

Karl Eikenberry Panelist
David M. Kennedy Panelist
William J. Perry Panelist

Building 200, Room 209
Stanford University
Stanford, CA 94305-2024

(650) 723-9569 (650) 725-0597
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Dickason Professor in the Humanities, Emeritus
Professor of History, Emeritus
Senior Fellow at the Freeman Spogli Institute for International Studies, by courtesy
sheehan.jpg MA, PhD

James Sheehan is the Dickason Professor in the Humanities at Stanford, a professor of history, and an FSI senior fellow by courtesy. He is an expert on the history of modern Europe. He has written widely on the history of Germany, including four books and many articles. His most recent book on Germany is Museums in the German Art World: From the End of the Old Regime to the Rise of Modernism (Oxford Press, 2000). He has recently written a new book about war and the European state in the 20th century, Where Have All the Soldiers Gone? addressing the transformation of Europe's states from military to cilivian actors, interested primarily in economic growth, prosperity, and security. His other recent publications are chapters on "Democracy" and "Political History," which appear in the International Encyclopedia of the Social and Behavioral Sciences (2002), and a chapter on "Germany," which appears in The Encyclopedia of the Enlightenment (Oxford University Press, 2002).

Sheehan is a member of the American Academy of Arts and Sciences and the American Philosophical Society. He has many won many grants and awards, including the Officer's Cross of the German Order of Merit. In 2004 he was elected president of the American Historical Association. He received a BA from Stanford (1958) and an MA and PhD from the University of California at Berkeley (1959, 1964).

Affiliated faculty at The Europe Center
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James J. Sheehan Panelist
John Hennessy Host
Panel Discussions
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The 4th annual Koret Conference will convene to explore the similarities and differences in the national experiences and national identities of two important middle powers on China's periphery, Korea and Vietnam, whose natures and journeys are seldom compared. Their current outlooks on regionalism and their relationships with China and the United States will be reviewed as well. The conference will also analyze the past and present impacts of their shared proximity to China on Korean and Vietnamese national identity and security.

This event is made possible by the generous support from the Koret Foundation.

 

**Please note: Seats are limited.

Bechtel Conference Center

Shorenstein APARC
Encina Hall E301
616 Jane Stanford Way
Stanford, CA 94305-6055
(650) 724-8480 (650) 723-6530
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Senior Fellow at the Freeman Spogli Institute for International Studies
Professor of Sociology
William J. Perry Professor of Contemporary Korea
Professor, by Courtesy, of East Asian Languages & Cultures
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Gi-Wook Shin is the William J. Perry Professor of Contemporary Korea in the Department of Sociology, senior fellow at the Freeman Spogli Institute for International Studies, and the founding director of the Korea Program at the Walter H. Shorenstein Asia-Pacific Research Center (APARC) since 2001, all at Stanford University. In May 2024, Shin also launched the Taiwan Program at APARC. He served as director of APARC for two decades (2005-2025). As a historical-comparative and political sociologist, his research has concentrated on social movements, nationalism, development, democracy, migration, and international relations.

In Summer 2023, Shin launched the Stanford Next Asia Policy Lab (SNAPL), which is a new research initiative committed to addressing emergent social, cultural, economic, and political challenges in Asia. Across four research themes– “Talent Flows and Development,” “Nationalism and Racism,” “U.S.-Asia Relations,” and “Democratic Crisis and Reform”–the lab brings scholars and students to produce interdisciplinary, problem-oriented, policy-relevant, and comparative studies and publications. Shin’s latest book, The Four Talent Giants, a comparative study of talent strategies of Japan, Australia, China, and India to be published by Stanford University Press in the summer of 2025, is an outcome of SNAPL.

Shin is also the author/editor of twenty-seven books and numerous articles. His books include The Four Talent Giants: National Strategies for Human Resource Development Across Japan, Australia, China, and India (2025)Korean Democracy in Crisis: The Threat of Illiberalism, Populism, and Polarization (2022); The North Korean Conundrum: Balancing Human Rights and Nuclear Security (2021); Superficial Korea (2017); Divergent Memories: Opinion Leaders and the Asia-Pacific War (2016); Global Talent: Skilled Labor as Social Capital in Korea (2015); Criminality, Collaboration, and Reconciliation: Europe and Asia Confronts the Memory of World War II (2014); New Challenges for Maturing Democracies in Korea and Taiwan (2014); History Textbooks and the Wars in Asia: Divided Memories (2011); South Korean Social Movements: From Democracy to Civil Society (2011); One Alliance, Two Lenses: U.S.-Korea Relations in a New Era (2010); Cross Currents: Regionalism and Nationalism in Northeast Asia (2007);  and Ethnic Nationalism in Korea: Genealogy, Politics, and Legacy (2006). Due to the wide popularity of his publications, many have been translated and distributed to Korean audiences. His articles have appeared in academic and policy journals, including American Journal of SociologyWorld DevelopmentComparative Studies in Society and HistoryPolitical Science QuarterlyJournal of Asian StudiesComparative EducationInternational SociologyNations and NationalismPacific AffairsAsian SurveyJournal of Democracy, and Foreign Affairs.

Shin is not only the recipient of numerous grants and fellowships, but also continues to actively raise funds for Korean/Asian studies at Stanford. He gives frequent lectures and seminars on topics ranging from Korean nationalism and politics to Korea's foreign relations, historical reconciliation in Northeast Asia, and talent strategies. He serves on councils and advisory boards in the United States and South Korea and promotes policy dialogue between the two allies. He regularly writes op-eds and gives interviews to the media in both Korean and English.

Before joining Stanford in 2001, Shin taught at the University of Iowa (1991-94) and the University of California, Los Angeles (1994-2001). After receiving his BA from Yonsei University in Korea, he was awarded his MA and PhD from the University of Washington in 1991.

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Director of the Korea Program and the Taiwan Program, Shorenstein Asia-Pacific Research Center
Director of Stanford Next Asia Policy Lab, APARC
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Gi-Wook Shin Speaker

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

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Lecturer in International Policy at the Ford Dorsey Master’s in International Policy
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Daniel C. Sneider is a lecturer in international policy at Stanford's Ford Dorsey Master’s in International Policy and a lecturer in East Asian Studies at Stanford. His own research is focused on current U.S. foreign and national security policy in Asia and on the foreign policy of Japan and Korea.  Since 2017, he has been based partly in Tokyo as a Visiting Researcher at the Canon Institute for Global Studies, where he is working on a diplomatic history of the creation and management of the U.S. security alliances with Japan and South Korea during the Cold War. Sneider contributes regularly to the leading Japanese publication Toyo Keizai as well as to the Nelson Report on Asia policy issues.

Sneider is the former Associate Director for Research at the Walter H. Shorenstein Asia-Pacific Research Center at Stanford. At Shorenstein APARC, Sneider directed the center’s Divided Memories and Reconciliation project, a comparative study of the formation of wartime historical memory in East Asia. He is the co-author of a book on wartime memory and elite opinion, Divergent Memories, from Stanford University Press. He is the co-editor, with Dr. Gi-Wook Shin, of Divided Memories: History Textbooks and the Wars in Asia, from Routledge and of Confronting Memories of World War II: European and Asian Legacies, from University of Washington Press.

Sneider was named a National Asia Research Fellow by the Woodrow Wilson International Center for Scholars and the National Bureau of Asian Research in 2010. He is the co-editor of Cross Currents: Regionalism and Nationalism in Northeast Asia, Shorenstein APARC, distributed by Brookings Institution Press, 2007; of First Drafts of Korea: The U.S. Media and Perceptions of the Last Cold War Frontier, 2009; as well as of Does South Asia Exist?: Prospects for Regional Integration, 2010. Sneider’s path-breaking study “The New Asianism: Japanese Foreign Policy under the Democratic Party of Japan” appeared in the July 2011 issue of Asia Policy. He has also contributed to other volumes, including “Strategic Abandonment: Alliance Relations in Northeast Asia in the Post-Iraq Era” in Towards Sustainable Economic and Security Relations in East Asia: U.S. and ROK Policy Options, Korea Economic Institute, 2008; “The History and Meaning of Denuclearization,” in William H. Overholt, editor, North Korea: Peace? Nuclear War?, Harvard Kennedy School of Government, 2019; and “Evolution or new Doctrine? Japanese security policy in the era of collective self-defense,” in James D.J. Brown and Jeff Kingston, eds, Japan’s Foreign Relations in Asia, Routledge, December 2017.

Sneider’s writings have appeared in many publications, including the Washington Post, the New York Times, Slate, Foreign Policy, the New Republic, National Review, the Far Eastern Economic Review, the Oriental Economist, Newsweek, Time, the International Herald Tribune, the Financial Times, and Yale Global. He is frequently cited in such publications.

Prior to coming to Stanford, Sneider was a long-time foreign correspondent. His twice-weekly column for the San Jose Mercury News looking at international issues and national security from a West Coast perspective was syndicated nationally on the Knight Ridder Tribune wire service. Previously, Sneider served as national/foreign editor of the Mercury News. From 1990 to 1994, he was the Moscow bureau chief of the Christian Science Monitor, covering the end of Soviet Communism and the collapse of the Soviet Union. From 1985 to 1990, he was Tokyo correspondent for the Monitor, covering Japan and Korea. Prior to that he was a correspondent in India, covering South and Southeast Asia. He also wrote widely on defense issues, including as a contributor and correspondent for Defense News, the national defense weekly.

Sneider has a BA in East Asian history from Columbia University and an MPA from the John F. Kennedy School of Government at Harvard University.

Daniel C. Sneider Speaker
Tuong Vu Associate Professor, Political Science Speaker University of Oregon
Leif-Eric Easley Assitant Professor, International Security and Political Economics Speaker Ewha University in Korea
Brantly Womack Professor of Foreign Affairs, Woodrow Willson Department of Politcs Speaker University of Virginia

Walter H. Shorenstein
Asia-Pacific Research Center
616 Serra St., Encina Hall E310
Stanford University
Stanford, CA 94305-6055

(650) 725-9623 (650) 723-6530
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Lee Kong Chian NUS-Stanford Distinguished Fellow on Southeast Asia
JamesOkey_WEBSITE.jpg MA, PhD

James Ockey is the Lee Kong Chian NUS-Stanford Distinguished Fellow on Contemporary Southeast Asia, and will be at the Walter H. Shorenstein Asia-Pacific Research Center (Shorenstein APARC) from January through March in 2012. 

He is currently the coordinator of political science at the University of Canterbury in Christchurch, New Zealand, where he is an associate professor (reader). 

Ockey’s research interests cover many aspects of Thai politics, including democratization, civil-military relations, electoral politics, and political conflict. While at Shorenstein APARC he will be working on the manuscript for a book project, tentatively titled Trakun Kanmuang: Family Politics in Thailand. The book will analyze patterns of family relationships in the Thai parliament, outline the role of provincial political families in promoting or inhibiting the democratization process at local and national levels, and explore the place of political families in the social structures of provincial Thailand. 

Ockey earned an MA and PhD in government at Cornell University, and a BA in political science from Brigham Young University.

James Ockey Speaker
T.J. Pempel Professor, Political Science, University of California at Berkeley Speaker

Shorenstein APARC
Encina Hall C324
616 Serra Street
Stanford University
Stanford, CA 94305-6055

(650) 724-6404 (650) 723-6530
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2011-2012 Koret Fellow
ParkJoonWoo_Web.jpg

Joon-woo Park, a former senior diplomat from Korea, is the 2011–12 Koret Fellow with the Korean Studies Program (KSP).

Park brings over 30 years of foreign policy experience to Stanford, including a deep understanding of the U.S.-Korea relationship, bilateral relations, and major Northeast Asian regional issues. In view of Korea’s increasingly important presence as a global economic and political leader, Park will explore foreign policy strategies for furthering this presence. In addition, he will consider possibilities for increased U.S.-Korea collaboration in their relations with China, as well as prospects for East Asian regional integration based on the European Union (EU) model. He will also teach a course during the winter quarter, entitled Korea's Foreign Policy in Transition.

In 2010, while serving as ambassador to the EU, Park signed the EU-South Korea Free Trade Agreement (FTA) in Brussels. That same year he also completed the Framework Agreement, strengthening EU-South Korea collaboration on significant global issues, such as human rights, the non-proliferation of nuclear weapons, and climate change. Park’s experience with such major bilateral agreements comes as the proposed Korea-U.S. FTA is nearing ratification.

Park holds a BA and an MA in law from Seoul National University.

The Koret Fellowship was established in 2008 through the generosity of the Koret Foundation to promote intellectual diversity and breadth in KSP, bringing leading professionals in Asia and the United States to Stanford to study U.S.-Korea relations. The fellows conduct their own research on the bilateral relationship, with an emphasis on contemporary relations, with the broad aim of fostering greater understanding and closer ties between the two countries.

Joon-woo Park 2011-2012 Koret Fellow Keynote Speaker Stanford University

No longer in residence.

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Associate Director of the Korea Program
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David Straub was named associate director of the Korea Program at the Walter H. Shorenstein Asia-Pacific Research Center (Shorenstein APARC) on July 1, 2008. Prior to that he was a 2007–08 Pantech Fellow at the Center. Straub is the author of the book, Anti-Americanism in Democratizing South Korea, published in 2015.

An educator and commentator on current Northeast Asian affairs, Straub retired in 2006 from his role as a U.S. Department of State senior foreign service officer after a 30-year career focused on Northeast Asian affairs. He worked over 12 years on Korean affairs, first arriving in Seoul in 1979.

Straub served as head of the political section at the U.S. embassy in Seoul from 1999 to 2002 during popular protests against the United States, and he played a key working-level role in the Six-Party Talks on North Korea's nuclear program as the State Department's Korea country desk director from 2002 to 2004. He also served eight years at the U.S. embassy in Japan. His final assignment was as the State Department's Japan country desk director from 2004 to 2006, when he was co-leader of the U.S. delegation to talks with Japan on the realignment of the U.S.-Japan alliance and of U.S. military bases in Japan.

After leaving the Department of State, Straub taught U.S.-Korean relations at the Johns Hopkins University's School of Advanced International Studies in the fall of 2006 and at the Graduate School of International Studies of Seoul National University in spring 2007. He has published a number of papers on U.S.-Korean relations. His foreign languages are Korean, Japanese, and German.

David Straub Speaker
Pham Quang Minh Dean and Associate Professor, College of Social Science and Humanities Speaker Vietnam National University-Hanoi
Lee Su-hoon Director and Professor, The Institute for Far Eastern Studies Speaker Kyungnam University, Korea
Scott Snyder Senior Fellow for Korea Studies and Director of the Program on U.S.-Korea Policy Speaker Council on Foreign Relations
Alexander Vuving Associate Professor, Asia-Pacific Center for Security Studies, Honolulu, Hawaii Speaker
David Elliott Professor, International Relations; Professor of Politics Speaker Pomona College
Philip Yun Executive Director & COO Speaker Ploughshares Fund
Michael H. Armacost Speaker
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Senior Fellow Emeritus at the Freeman Spogli Institute for International Studies
Affiliated Faculty, CDDRL
Affiliated Scholar, Abbasi Program in Islamic Studies
aparc_dke.jpg PhD

At Stanford, in addition to his work for the Southeast Asia Program and his affiliations with CDDRL and the Abbasi Program in Islamic Studies, Donald Emmerson has taught courses on Southeast Asia in East Asian Studies, International Policy Studies, and Political Science. He is active as an analyst of current policy issues involving Asia. In 2010 the National Bureau of Asian Research and the Woodrow Wilson International Center for Scholars awarded him a two-year Research Associateship given to “top scholars from across the United States” who “have successfully bridged the gap between the academy and policy.”

Emmerson’s research interests include Southeast Asia-China-US relations, the South China Sea, and the future of ASEAN. His publications, authored or edited, span more than a dozen books and monographs and some 200 articles, chapters, and shorter pieces.  Recent writings include The Deer and the Dragon: Southeast Asia and China in the 21st Century (ed., 2020); “‘No Sole Control’ in the South China Sea,” in Asia Policy  (2019); ASEAN @ 50, Southeast Asia @ Risk: What Should Be Done? (ed., 2018); “Singapore and Goliath?,” in Journal of Democracy (2018); “Mapping ASEAN’s Futures,” in Contemporary Southeast Asia (2017); and “ASEAN Between China and America: Is It Time to Try Horsing the Cow?,” in Trans-Regional and –National Studies of Southeast Asia (2017).

Earlier work includes “Sunnylands or Rancho Mirage? ASEAN and the South China Sea,” in YaleGlobal (2016); “The Spectrum of Comparisons: A Discussion,” in Pacific Affairs (2014); “Facts, Minds, and Formats: Scholarship and Political Change in Indonesia” in Indonesian Studies: The State of the Field (2013); “Is Indonesia Rising? It Depends” in Indonesia Rising (2012); “Southeast Asia: Minding the Gap between Democracy and Governance,” in Journal of Democracy (April 2012); “The Problem and Promise of Focality in World Affairs,” in Strategic Review (August 2011); An American Place at an Asian Table? Regionalism and Its Reasons (2011); Asian Regionalism and US Policy: The Case for Creative Adaptation (2010); “The Useful Diversity of ‘Islamism’” and “Islamism: Pros, Cons, and Contexts” in Islamism: Conflicting Perspectives on Political Islam (2009); “Crisis and Consensus: America and ASEAN in a New Global Context” in Refreshing U.S.-Thai Relations (2009); and Hard Choices: Security, Democracy, and Regionalism in Southeast Asia (edited, 2008).

Prior to moving to Stanford in 1999, Emmerson was a professor of political science at the University of Wisconsin-Madison, where he won a campus-wide teaching award. That same year he helped monitor voting in Indonesia and East Timor for the National Democratic Institute and the Carter Center. In the course of his career, he has taken part in numerous policy-related working groups focused on topics related to Southeast Asia; has testified before House and Senate committees on Asian affairs; and been a regular at gatherings such as the Asia Pacific Roundtable (Kuala Lumpur), the Bali Democracy Forum (Nusa Dua), and the Shangri-La Dialogue (Singapore). Places where he has held various visiting fellowships, including the Institute for Advanced Study and the Woodrow Wilson International Center for Scholars. 



Emmerson has a Ph.D. in political science from Yale and a BA in international affairs from Princeton. He is fluent in Indonesian, was fluent in French, and has lectured and written in both languages. He has lesser competence in Dutch, Javanese, and Russian. A former slam poet in English, he enjoys the spoken word and reads occasionally under a nom de plume with the Not Yet Dead Poets Society in Redwood City, CA. He and his wife Carolyn met in high school in Lebanon. They have two children. He was born in Tokyo, the son of U.S. Foreign Service Officer John K. Emmerson, who wrote the Japanese Thread among other books.

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1. Eight U.S. presidents have said that the United States wants China to be strong, secure, and prosperous. Do you share that objective and what consequences, positive and negative, has China’s rise had for the United States?

2. What is the best way for the United States to respond to the rise of China, India, Brazil, and other large and rapidly growing countries?

3. Do you consider China a partner or an adversary of the United States -- and what should U.S. policy toward China seek to accomplish?

4. Given the importance of defense industry jobs, especially in Republican-leaning states, is it politically necessary for the U.S. to have an enemy to justify a U.S. military budget larger than the total military budgets of most other nations, many of which are allies of the United States. In other words, do we “need” to depict China as an adversary?

5. Robert Zoelleck, when he was deputy secretary of state, urged China to become a "responsible stakeholder" in the international system.  What did he mean by that and, in your opinion, is China a responsible participant in the international system

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Rodney C. Ewing
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Abstract:

When the Obama administration withdrew the license application for the proposed geologic repository at Yucca Mountain, Nevada, for spent nuclear fuel and high-level radioactive waste, the United States not only ended more than 25 years of research and effort in developing a long-term solution for dealing with HLW, it also lost the regulatory framework for the same. The Environmental Protection Agency’s standards and the implementing regulations of the Nuclear Regulatory Commission are site-specific, unique to Yucca Mountain. In the absence of a repository at Yucca Mountain, a new standard and new regulations will be required. In this article, two different viewpoints are given on how to assess compliance.

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Silvio Berlusconi has been a force in Italian politics during the past two decades. As the country’s prime minister and richest man, the media mogul managed to slip through sex scandals and criminal charges only to be forced out of office by Europe’s debt crisis.

As a new government led by economist Mario Monti takes place, Ronald Spogli talks about Berlusconi’s fall, what’s next for Italy and whether the United States should get involved in the eurozone’s tailspin. Spogli, who served as the U.S. ambassador to Italy from 2005 to 2009, is a Stanford trustee and major benefactor to the university’s Freeman Spogli Institute for International Studies.

What will Italy’s government look like under Mario Monti, and how will it trim the country’s $2.5 trillion debt?

Monti is an economist by training and has been president of Bocconi University, Italy’s most prestigious business school. He was the European Commissioner and that position earned him international influence and experience. So here’s somebody who has economic savvy, institutional gravitas, and the ability to be perceived as above politics.

The new government is expected to carry out the stability program enacted immediately before Berlusconi’s resignation on Saturday.  This law contemplates asset sales to reduce debt, among other measures.  The idea of a wealth tax has been floated in Italy – which by most measures is the richest country on the continent – as a way to immediately and significantly pay down the nation’s debt. 

The Monti government is likely to consider this and other options to reduce the country’s indebtedness.  However, it will have to gain parliamentary approval for any new laws. And depending on the nature of the bill proposed, passage of legislation could prove problematic.

How did Berlusconi manage to survive sex scandals and corruption charges, only to be brought down by Italy’s financial crisis?

I think he survived because for most Italians, his personal life was less relevant than his actions and promises as a politician who could do good things for Italy.

He came into power in 1994, and his ability to dominate Italian politics for nearly two decades has been the main story. He came in with an expectation that as Italy’s richest man and as a successful businessman, he would help jumpstart a country that had begun to stall economically. The notion was that after stagnation had begun to creep in, Silvio Berlusconi was the person to break the logjam and move Italy forward.

But for the last 20 years, Italy has had half the economic growth rate of Europe. That’s the biggest issue against Berlusconi. But nobody is 100 percent convinced that he’s really gone for good. He has an amazing ability to resurrect himself. He’s proven that throughout his political career.

How does Italy’s debt burden fit in to the rest of Europe’s economic woes?

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In terms of the sheer magnitude of the problem, the Italian circumstance dwarfs Greece’s situation and the ability of the initiatives meant to deal with other countries’ crises. The issue is whether the new Italian government will be able to calm the bond markets.

Restoring credibility is absolutely vital. The fundamental concern is that there’s no offered solution to an Italian debt problem. There is no bailout being contemplated that’s big enough to be able to deal with the issue, unlike Greece.

The euro crisis has claimed the political lives of prime ministers in Greece, Spain and Italy. Can we expect more high-profile political casualties?

It’s interesting how the markets – in such a short period of time – have forced a political change that the internal Italian political system has been unable to achieve for quite some time. It’s difficult to speculate as to whether those forces will move to more counties. But it certainly wasn’t contemplated that they’d have this impact on Italy, so its fair to say that nothing is completely off the table.

In the United States, candidates vying for the Republican nomination in next year’s election say America shouldn’t get involved in Europe’s financial mess. Is that the right attitude?

Europe is extremely important to the United States. Not just for economic reasons, but for political reasons. This is a European problem to solve. On the other hand, if it gets to the point where it continues to have a very damaging impact on the world’s capital markets, I think the resolve to keep it as an isolated problem may fade.

Beyond the narrowly defined economic impact of the crisis, we have many issues of global security that we cannot effectively deal with without the help of Europeans. If they’re going to go into a pronounced period of economic contraction, that’s going to heavily impact their ability to be a great partner for us.  Italy is a perfect example of this concern. We counted on its help in the Balkans, Afghanistan, Iraq and Lebanon. Those are expensive missions, and if the country doesn’t grow its economy, it’s harder for them to be a great American ally.  Italy’s economic situation extends to our basic international security interests.

Italy's economic crisis is the subject of a Nov. 18 presentation given by Roland Benedikter, a scholar at FSI's Europe Center. 

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