This book discusses the necessity for cooperation between China and Japan to provide international public goods to Asia. It provides insight into how China and Japan can redesign the process of economic integration and security architecture to ensure peace and prosperity in Asia, and how China and Japan can cooperate to correct the capital misallocation and channel savings more effectively to investments in Asia. It also suggests how China and Japan can promote free trade to help Asian economies upgrade their industries in the global supply chain.
The book is an invaluable contribution to the existing discussion on China–Japan relations and how their cooperation is beneficial not only for them but also for Asia, and even the world.
'The book makes for an interesting reading on cooperation amongst the Asian countries, especially the roles of Japan and China that are necessary to achieve economic and financial integration in Asia. The authors provide detailed statistics wherever necessary to support their arguments. Each chapter is followed by a discussion in which the authors provide responses to the questions raised on their research…' — Economic Issues, Vol. 24, Part 1, 2019
1. Introduction: China and Japan in the Global Economy (Tomoo Kikuchi and Masaya Sakuragawa)
2. Will the 21st Century be an Asian Century? A Global Perspective (Masahiro Kawai)
3. Geopolitics in East Asia (Huang Jing)
4. Regional Integration: Is Europe Special (Sahoko Kaji)
5. The Chinese Economy and the Sino-Japanese Economic Relations (Yuqing Xing)
6. Infrastructure and Development in Asia: The Quality of Infrastructure and the Project Implementation (Fukunari Kimura)
7. Advancing the ASEAN Economic Community: The Role of China and Japan in Supporting ASEAN's Regional Integration (Blake H. Berger)
8. Internationalisation of the Yen in Asia: Has Regional Economic Integration Promoted Yen Invoiced Trade? (Kiyotaka Sato)
9. A Cautionary Tale of Market Power and Foreign Policy: Beyond the Geoeconomics of Renminbi Internationalisation (June Park)
10. Prospects for a Multicurrency Clearing System in Asia (Masaya Sakuragawa and Junichi Shukuwa)
11. Concluding Policy Proposals (Blake H. Berger, Tomoo Kikuchi and Masaya Sakuragawa)