危机与机遇

IF 1 Q3 POLITICAL SCIENCE
Aries A. Arugay
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Their pandemic response has drained their fiscal resources and led many states to borrow extensively. In the Philippines, for example, government debt has doubled since the pandemic began. This has severely limited the ability of its government to effectively respond to inflation and jumpstart the economy. But it is in Sri Lanka where a full-fledged economic crisis wreaked havoc with the resignation of the government. Without sufficient foreign currency reserves, the Sri Lankan economy virtually shut down with a shortage of oil and gas as well as basic food necessities. As seen in the past, such economic hardship caused popular outrage with massive protests unseen in its contemporary history. The global economic downturn is a serious legitimacy challenge to governments of all types.</p><p>The dire global economic situation requires states and international institutions to immediately act, seriously work in a collective manner, and commit to uplift everyone from the crisis. This is not an easy decision as retreating to protectionist measures is the easy and rational path in the short run. The looming food crisis around the world is not because there is a lack of supply but with political decisions that seek to protect domestic markets at the sacrifice of foreign markets. This “protectionist reflex” could cause more hardship, especially in low-income economies and highly unequal societies. We will have to wait in the coming months whether the global economy can indeed fix these market distortions on its own but as history has taught us, previous international economic crises required proactive measures of states and international organizations.</p><p><i>Asian Politics &amp; Policy</i> has published numerous articles on the linkages between economic crisis and political factors. Yu's (<span>2010</span>) study about China's proposal to develop a Western Economic Triangle has been met with skepticism given the various challenges in the country's western frontier. This inequality within one of the world's biggest economies will continue to impact the ability of China to recover from the current economic downturn. China's more assertive stance in the region will also influence its ability to present itself as a problem solver to the current economic crisis. The country's ability to integrate itself into the global economy and be more interdependent with other countries has not necessarily released the mechanisms attributed by international relations theory regarding liberal or democratic peace. Leon (<span>2017</span>) argued that this is because China remains in a process of power transition. Thus, it will take some time before China can act as a responsible economic actor. 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引用次数: 0

摘要

现在不是全球经济的好时机。由于几个因素,许多国家正经历经济衰退。尽管疫苗接种率很高,但新冠肺炎仍然是许多国家面临的持续挑战。在亚洲及其他地区,自2020年初以来,新的病例激增一直在推迟经济复苏和“正常化”的能力。另一个因素是2022年2月开始的俄乌战争。战争看不到尽头,对包括粮食(即小麦、土豆)和石油在内的全球供应链造成了损失。不断上涨的粮食和石油价格对世界各地的社会产生了不平等的影响,穷人和边缘化者受到了超出其国家边界的行动和决定的最大负面影响。各国政府在解决本国人民所经历的经济困难方面将面临巨大挑战。他们对疫情的应对耗尽了财政资源,并导致许多州大量借贷。例如,在菲律宾,自疫情开始以来,政府债务翻了一番。这严重限制了其政府有效应对通货膨胀和启动经济的能力。但正是在斯里兰卡,一场全面的经济危机造成了政府辞职的严重破坏。由于没有足够的外汇储备,斯里兰卡经济几乎因石油和天然气以及基本食品必需品短缺而关闭。正如过去所看到的那样,这种经济困难引发了民众的愤怒,引发了当代历史上前所未有的大规模抗议。全球经济衰退对所有类型的政府来说都是一个严重的合法性挑战。严峻的全球经济形势要求各国和国际机构立即采取行动,以集体的方式认真工作,并致力于让每个人都摆脱危机。这不是一个容易的决定,因为从短期来看,退回保护主义措施是一条简单而合理的道路。世界各地迫在眉睫的粮食危机并不是因为供应短缺,而是因为政治决策试图以牺牲外国市场为代价来保护国内市场。这种“保护主义反射”可能会造成更多困难,尤其是在低收入经济体和高度不平等的社会。在未来几个月里,我们将不得不等待全球经济是否真的能够自行解决这些市场扭曲问题,但正如历史告诉我们的那样,以前的国际经济危机需要各国和国际组织采取积极措施。亚洲政治;《政策》发表了许多关于经济危机与政治因素之间联系的文章。余(2010)关于中国发展西部经济三角的建议的研究遭到了质疑,因为中国西部边境面临着各种挑战。作为世界上最大的经济体之一,这种不平等将继续影响中国从当前经济衰退中复苏的能力。中国在该地区更加自信的立场也将影响其作为当前经济危机问题解决者的能力。该国融入全球经济并与其他国家更加相互依存的能力并不一定释放了国际关系理论所认为的自由或民主和平机制。Leon(2017)认为,这是因为中国仍处于权力过渡过程中。因此,中国要成为一个负责任的经济行动者还需要一段时间。最后,现有的区域贸易安排,如《区域全面经济伙伴关系协定》和《跨太平洋伙伴关系全面与进步协定》,可能需要进行调整,以适当和充分地应对印太地区经济体目前面临的挑战。在一项研究中,这种贸易安排可能必须在独立于全球贸易秩序的愿望与与与其他经济体联系以应对全球经济危机的必要性之间取得平衡(Novikov&;Shumkova,2018);政策,我们很高兴发表原创研究文章,涵盖军事史、台湾的软实力外交、东南亚的灌溉政策改革、泰国基础设施项目的政策经纪人和尼泊尔的青年暴力等主题。我们还特别报道了两篇关于印度尼西亚和香港新冠肺炎政策应对的政策评论文章,以及通常的媒体和书评。我们希望我们的期刊能够成为一个很好的学术媒介,就亚洲的公共政策和国际事务进行严肃而严谨的辩论和讨论。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Crisis and opportunity

It is not a good time for the global economy. Many countries are experiencing an economic downturn due to several factors. COVID-19 remains a persistent challenge to many countries despite high vaccination rates. In Asia and beyond, a new surge of cases has been delaying the ability of economies to recover and “normalize” since early 2020. Another factor is the ongoing Russia–Ukraine war that started in February 2022. With no end in sight, the war has taken a toll on global supply chains including food (i.e., wheat, potatoes) and oil. Rising food and oil prices have affected societies worldwide unequally with the poor and marginalized receiving the greatest negative impact of actions and decisions made beyond their states' borders.

Governments will face tremendous challenges in addressing the economic hardship experienced by their people. Their pandemic response has drained their fiscal resources and led many states to borrow extensively. In the Philippines, for example, government debt has doubled since the pandemic began. This has severely limited the ability of its government to effectively respond to inflation and jumpstart the economy. But it is in Sri Lanka where a full-fledged economic crisis wreaked havoc with the resignation of the government. Without sufficient foreign currency reserves, the Sri Lankan economy virtually shut down with a shortage of oil and gas as well as basic food necessities. As seen in the past, such economic hardship caused popular outrage with massive protests unseen in its contemporary history. The global economic downturn is a serious legitimacy challenge to governments of all types.

The dire global economic situation requires states and international institutions to immediately act, seriously work in a collective manner, and commit to uplift everyone from the crisis. This is not an easy decision as retreating to protectionist measures is the easy and rational path in the short run. The looming food crisis around the world is not because there is a lack of supply but with political decisions that seek to protect domestic markets at the sacrifice of foreign markets. This “protectionist reflex” could cause more hardship, especially in low-income economies and highly unequal societies. We will have to wait in the coming months whether the global economy can indeed fix these market distortions on its own but as history has taught us, previous international economic crises required proactive measures of states and international organizations.

Asian Politics & Policy has published numerous articles on the linkages between economic crisis and political factors. Yu's (2010) study about China's proposal to develop a Western Economic Triangle has been met with skepticism given the various challenges in the country's western frontier. This inequality within one of the world's biggest economies will continue to impact the ability of China to recover from the current economic downturn. China's more assertive stance in the region will also influence its ability to present itself as a problem solver to the current economic crisis. The country's ability to integrate itself into the global economy and be more interdependent with other countries has not necessarily released the mechanisms attributed by international relations theory regarding liberal or democratic peace. Leon (2017) argued that this is because China remains in a process of power transition. Thus, it will take some time before China can act as a responsible economic actor. Finally, existing regional trade arrangements such as the Regional Comprehensive Economic Partnership and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership may require adjustments to appropriately and sufficiently address the current challenges faced by economies in the Indo-Pacific region. In one study, such trade arrangements may have to balance the desire to be autonomous from the global trade order with the necessity of linking with other economies to address the global economic crisis (Novikov & Shumkova, 2018).

In this issue of Asian Politics & Policy, we are pleased to publish original research articles that covered topics ranging from military history, Taiwan's soft power diplomacy, irrigation policy reforms in Southeast Asia, policy brokers for infrastructure projects in Thailand, and youth violence in Nepal. We are also featuring two policy review articles regarding COVID-19 policy responses in Indonesia and Hong Kong as well as the usual media and book reviews. We hope that our journal can be a good academic medium for serious and rigorous debates and discussions on public policies and international affairs in Asia.

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Asian Politics & Policy
Asian Politics & Policy POLITICAL SCIENCE-
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