Photo: Jabiz Raisdana/flickr.
At the recent G20 meeting in Sydney, representatives committed to increase growth by more than $2 trillion over the next five years through the adoption of ambitious and comprehensive structural reforms. However, research just released by the Institute for Economics and Peace (IEP) suggests that while focussing on productivity and employment is vital for economic prosperity, so too are concerted efforts to increase peace.
The Global Costs of Violence Containment report provides one of the first estimates of the economic cost of violence and the fear of violence to the world economy. It finds that violence, and attempts to prevent and protect against it, cost the global economy upwards of US $9.46 trillion per annum or 11 per cent of Gross World Product. » More
Photo: U.S. Navy/Wikimedia Commons.
The Australian public is being reminded of Indonesia’s importance to the country’s foreign and defence policy—past, present and future.
Last Thursday, many Australian viewers switched their televisions over to the Australian Broadcasting Corporation (ABC) in an attempt to escape from the media frenzy surrounding the release of Australian citizenSchapelle Corby from prison in Indonesia. They found the national broadcaster’s Lateline program reporting on another, far more significant story emanating from their near north.
On February 1, the Chinese navy (PLAN) sent a taskforce of three warships from Hainan in southern China through the Sunda Strait in Indonesia, along the south coast of Java and past Christmas Island into the Indian Ocean. Two Chinese destroyers accompanied an advanced 20,000-ton amphibious ship, capable of carrying hundreds of marines, and conducted a series of combat simulations before heading north through the Lombok and Makassar Straits and into the Pacific. » More
Indian Navy ships, courtesy of Michael Scalet/flickr
NEW DELHI – Winter is India’s diplomatic high season, with the cool, sunny weather forming an ideal backdrop for pageantry, photo ops at the Taj Mahal or Delhi’s Red Fort, and bilateral deal-making. But this winter has been particularly impressive, with leaders from Japan and South Korea visiting to advance the cause of security cooperation in Asia.
The first to arrive was South Korean President Park Geun-hye. Despite a strong economic foundation, the bilateral relationship has long lacked a meaningful security dimension. But China’s recent assertiveness – including its unilateral declaration last November of a new Air Defense Identification Zone, which overlaps about 3,000 square kilometers of South Korea’s own ADIZ, in the Sea of Japan – has encouraged Park to shore up her country’s security ties with India. » More
Projecting US Power, courtesy of Al_Hikes AZ /flickr
CAMBRIDGE – Is the United States turning inward and becoming isolationist? That question was posed to me by a number of financial and political leaders at the recent World Economic Forum at Davos, and was heard again a few days later at the annual Munich Security Conference. In a strong speech at Davos, Secretary of State John Kerry gave an unambiguous answer: “Far from disengaging, America is proud to be more engaged than ever.” Yet the question lingered.
Unlike the mood at Davos a few years ago, when many participants mistook an economic recession for long-term American decline, the prevailing view this year was that the US economy has regained much of its underlying strength. Economic doomsayers focused instead on previously fashionable emerging markets like Brazil, Russia, India, and Turkey. » More
Irrawaddy River, courtesy of Bjorn Christian Torrissen /Wikimedia Commons
HONG KONG – At a time when China’s territorial assertiveness has strained its ties with many countries in the region, and its once-tight hold on Myanmar has weakened, its deteriorating relationship with North Korea, once its vassal, renders it a power with no real allies. The question now is whether the United States and other powers can use this development to create a diplomatic opening to North Korea that could help transform northeast Asia’s fraught geopolitics.
China’s ties with Myanmar began to deteriorate in late 2011, when Myanmar decided to suspend work on its largest and most controversial Chinese-aided project: the $3.6 billion Myitsone Dam, located at the headwaters of the Irrawaddy River. The decision shocked China, which had been treating Myanmar as a client state – one where it retains significant interests, despite today’s rift. » More