Please see below for the details.
Please RSVP at info-wojuss@list.waseda.jp or visit our event website at http://www.kikou.waseda.ac.jp/wojuss/eng/event/. Thanks very much!

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NEMOTO, Kuniaki (Ph.D)
Research Fellow / Assistant Professor
Organization for Japan-US Studies, Waseda University
http://sites.google.com/site/knemoto1978/

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Waseda University Organization for Japan-US Studies
(WOJUSS) Policy Seminar (May 12, 2014)

Professor William W. Grimes
Boston University

"East Asian Financial Regionalism:
Why Economic Enhancements Undermine Political
Sustainability."
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Waseda University Organization for Japan-US Studies
(WOJUSS) would like to invite you to a seminar
on May 12, 2014. Please see the details below.
Please RSVP at info-wojuss@list.waseda.jp or
visit our event website at
http://www.kikou.waseda.ac.jp/wojuss/eng/event/.

[Speaker]
Professor William W. Grimes
Boston University

[Title]
"East Asian Financial Regionalism:
Why Economic Enhancements Undermine Political
Sustainability."

[Date/Time]
Monday, May 12, 2014, 4:30-6:00 PM.

[Place]
Multipurpose Lecture Room, Okuma Memorial Tower
(Bldg.#26), Waseda Campus
(MAP) http://www.waseda.jp/eng/campus/map.html

[Abstract]
The centerpiece of East Asian financial regionalism has
been the Chiang Mai Initiative (CMI), an emergency
liquidity mechanism created by the ASEAN+3. Enforcement
under CMI has relied on the "IMF link" -- release of
funds is predicated on crisis countries' initiating
negotiations with the International Monetary Fund as a
means of reducing moral hazard, enforcing
conditionality, and diverting blame from the leading
creditors, Japan and China. The global financial crisis
of 2008-10 and the eurozone crisis that followed have
inspired important changes meant to address CMI's
economic gaps, including accelerated adoption of "CMI
Multilateralization" (CMIM), the creation of a new
surveillance unit (ASEAN+3 Macroeconomic Research
Organization, or AMRO), and the establishment of a new
Precautionary Line. These developments appear to weaken
the IMF link. However, while the moves appear to
demonstrate a more confident, autonomous regionalism
and a relative devaluation of the U.S.-dominated global
financial institutions, this paper argues that they
have the unintended consequence of unearthing anew the
underlying politics of divided leadership and mutual
suspicion. CMIM is now threatened by the renewed
potential for internal divisions, even as new
initiatives at bilateral and global levels further
erode its raison d'etre.

[Short Biography]
William W. Grimes is Professor of International
Relations and Political Science at Boston University,
where he has taught since 1996. He was formerly chair
of the Department of International Relations and
founding director of the Boston University Center for
the Study of Asia from 2008-10. He is the author of
Currency and Contest in East Asia: The Great Power
Politics of Financial Regionalism (Cornell University
Press, 2009), which was awarded the 2010 Masayoshi
Ohira Memorial Award as well as Unmaking the Japanese
Miracle: Macroeconomic Politics, 1985-2000 (Cornell
University Press, 2001) and co-editor (with Ulrike
Schaede) of Japan's Managed Globalization: Adapting to
the 21st Century (M.E. Sharpe, 2002). He has published
a variety of articles and book chapters on topics
including Japanese macroeconomic policymaking, the
impacts of financial globalization on Japan, East Asian
financial regionalism, and Japan's relations with the
United States and East Asia.

[Commentators]
Shujiro Urata
Professor, Faculty of International Research and
Education,
Waseda University

Takashi Terada
Professor, Faculty of Law, Doshisha University

[Moderator]
Hidetoshi Nakamura
Associate Professor, Faculty of Political Science and
Economics,
Waseda University

[Language]
English

Please send any inquiries about the event to
info-wojuss@list.waseda.jp.