ARC Internal Seminar with Yang Jiang

Response and Responsibility: China in East Asian Financial Cooperation

by Assistant Professor Yang Jiang, Asia Research Centre

As many countries call for China to contribute to saving the world from the global financial crisis, the question remains as to how much China can be involved in financial cooperation. This paper analyzes China's participation in financial cooperation in the past, which mainly took place in East Asia. China has taken quite opposite positions towards such proposals in the past, from 'silent' objection, to lukewarm or superficial support, to enthusiastic participation and substantial contribution. It is argued that China, recognizing the trend in the region to enhance cooperation, has changed from passively responding to external pressures to actively seeking responsibility, thanks to the regional multi-track dialogues and a more proactive diplomacy in general. It has also replaced the attitude of bluntly dismissing any Japanese proposal with a more subtle approach that is aimed at ensuring Chinese influence and the image of a responsible great power. The extent to which it can contribute to this process is mainly constrained by domestic financial conditions, which in the short term do not provide a promising prospect of China's deep involvement.

The Asia Research Centre Internal Seminars is a series of seminars to share knowledge among members. To build up a lively and commited research community, members of the ARC network and other interested scholars will present and discuss their current research at the seminars.

The ARC Internal Seminars are mainly for researchers affiliated with the Asia Research Centre, but other interested scholars are most welcome to attend.

Please note: As the centre will host a small lunch for the participants, should you wish to attend please inform us about your attendance no later than two days before the seminar at arc.int@cbs.dk