The issues on the Korean peninsula, the development of regional security organizations in Europe and Asia, the disarmament process and NMD/TMD as well as issues of economy and security such as the aftermath of the Asian financial crisis and the current state of the euro are now part of the debates which can be found in the following contributions. With the comparison in mind, this paper examines the background of the summit between Kim Jongil and Kim Daejung and the prospects of inter-Korean relations after the signing of the 'North-South Joint Declaration' at the historic event.
2. 'The 1992 System' Reconsidered
It was in April 1992 that President Kim Il-sung referred in an interview with the Washington Times (2) to the possible establishment of embassies in the respective capitals of the two countries. However, the crippled MAC was expected to restore its functions as Article 5 of the 'Basic Agreement' was implemented, and the United Nations Command (UNC) placed in Seoul after the ceasefire was also expected to be disbanded; the Korean War would be legally ended in accordance with the establishment of an inter-Korean peace regime.
3. 'The 1992 System' Convulsed
Revival of 'The 1992 System' ?
However, the 'April 8 Agreement' shows that the DPRK is not necessarily positively inclined towards the implementation of the 'Basic Agreement'. The North's reluctance to revive the 'Basic Agreement' could be seen in the agreed economic cooperation.
Conclusion: Local Structure in the Regional Context
The South must not insist that the North quickly revive the Basic Agreement, but instead achieve de facto implementation of the document. Should it happen, the North-South Defense Ministers' meeting is expected to play a role in the re-establishment of the MAC mechanism at Panmunjom.
Note;
The North-South Defense Ministers' meeting will be one step in this direction and will help shift the North's focus from US-DPR Korea relations to DPRK-Korea relations within the DPRK-ROK-US framework. Inter-Korean relations and relations between the four major powers would stabilize in a concentric manner and be more solid than in the '1992 system'.
The Aftermath of the Financial Crisis in Asia
Mr Seiichi KONDO
What is the Asian Crisis?
Can we then conclude that the lessons of the Asian crisis have been learned, that its problems have been fixed and that the risk of future crises has largely been reduced. But more fundamentally, I would not say "yes" because the lessons from the Asian crisis should not be seen only in the context of the Asian crisis.
How to Characterise the New Age?
These lessons are relevant to a much broader challenge posed by recent events that herald the arrival of a new era in the history of civilization – the end of the Cold War, the proliferation of the market economy, its unprecedented growth and size of private capital, a shift in power from states to markets, and the increase in the power of civil society. As a result, everyone began to feel at the mercy of the dictates of a gigantic, inhuman market governed solely by rationality.
How do these actors operate?
But when the deterioration of current accounts and the accumulation of short-term, unhedged dollar debt exceeded a critical level, financial markets decided that the situation was no longer sustainable and would no longer continue to finance Thailand's current deficit. The recent revision of the OECD Guidelines for Multinational Enterprises was one such step forward in expanding the responsibilities of business with regard to the environment, labor standards and ethical conduct, and in strengthening control mechanisms by states and civil society midfield.
How can we ensure that order and justice are established?
34;no." Rather, there is a need to institutionalize interdependence by establishing "good governance" among all the actors. And good governance systems in all the institutions, both public and private, will ensure the formation process Poor disclosure and lack of good quality independent auditing only made the situation worse by delaying the emergence of warning signs of the companies' deteriorating financial conditions.
The city's mayor, who hosted a welcome reception, called it a "transnational European region".
Conclusions
They have better knowledge of the local economic situation and can monitor local developments much more closely than an international body such as the IMF. The size and nature of the financial market imposed enormous costs on Asians. Regional cooperation can play a constructive role in our efforts to bridge these two moving objectives.
This can be more difficult than creating order through hegemony in the traditional sense of the word.
The EURO, the Growth Potential and the Financial Markets in Europe
Dr Michel AGLIETTA
The Equilibrium Value of the EURO in Retrospect
Ê(t) is the real equilibrium exchange rate and E(t) is the current actual exchange rate prod is the labor productivity difference between the home country and the foreign country nfa is the net foreign asset of the country whose currency is measured. Several papers have applied the BEER methodology to explain changes in the exchange rate of the euro against the dollar, calculating a theoretical Euro at the end of 1997 and 1998. The real equilibrium exchange rate of the dollar against the euro is shown in Figure 1.
Furthermore, figure 1 shows how large current deviations from the equilibrium exchange rate can be.
The EURO, the Financial Crises and the New Economy
Meanwhile, changes had occurred in the financial markets since the beginning of the Asian crisis. The most recent regressions performed at the CDC's research department show that the public link spread. A 100 basis point increase in the spread was estimated to lead to a 13% appreciation of the dollar against the euro over the long term.
It points to a change in the structure of foreign investment in the United States, which fits with the dynamics of the private sector.
Looking Into the Future: The EURO and the Pattern of Capital Flows
The EURO, the growth potential and the financial markets in Europe. European companies have no immediate recourse other than external growth through the acquisition of productivity-generating assets in the US. Therefore, the hard core of capital inflows to the US can be said to be fundamentally determined, which is reflected in the equilibrium exchange rate. These financial characteristics have a negative impact on the euro, but will not last in the longer term.
The euro's equilibrium rate could be helped by a change in the pattern of direct investment.
The Enlargement of European Security Organizations
Dr Guillaume PARMENTIER
Their recent association with some of the discussions among current members has limited these fears, and Helsinki's choice of a "Big Bang" approach to enlargement, including Turkey, has made things less difficult than they had been before. On the other hand, many, if not most, applicants feel that progress in this direction risks building insurmountable obstacles to their accession. They are already being asked to revise their legal system, their economic organization and their social legislation on the basis of the "acquis communautaire", and are tired of being asked to fulfill additional goals in other dimensions of politics at the same time: inevitably, the impression of , that the Union is "moving the goal post", is not popular with them.
Based on the degree of frustration of applicants and on the number of dissatisfied countries, the process will eventually be judged.
The Expansion of Regional Organizations and Implications for Regional and Global Security
Comments on Parmentier's presentation
Dr Sadaharu KATAOKA
In Kosovo, the OSCE developed an innovative and close relationship with the UN, as OSCEMIK formed an organic part of the UN's overall framework. It takes on a number of tasks that are unprecedented in the OSCE context - e.g. training of a new police service and of judicial and administrative personnel. It is important to point out that the notion of the European security and defense identity was always NATO's own military project, mainly designed to solve a number of structural and political problems in the Euro-Atlantic community.
As we know, the Cologne Council in June 1999 and the Helsinki Council in December 1999 presented the concept of a common European security and defense policy as an integral part of the EU's long-term political agenda.
Security Agenda in Asia -
The expansion of regional organizations and implications for regional and global security. Implications for regional and global security.
Prof. Satoshi MORIMOTO
Security Environment and Regional Security Cooperation in Asia
The second element of opportunity is the multilateral cooperation and exchanges between the nations in the region. This was manifested in the discussions and the cooperative approach that led to the steady strengthening of APEC in matters of economic development and cooperation and of the ARF on political and security issues. However, regional security cooperation through CBM and preventive diplomacy has played a significant role in promoting mutual understanding and trust between nations in the region.
Third, the improvement of bilateral relations between the four major powers in the region – the US, Russia, China and Japan – is also an important and positive indicator.
The common security agenda for Asia and Europe
In addition, both Europe and Asia share similar concerns about the non-proliferation of weapons of mass destructor. At that time, Central Asia and the Gulf countries will be crucial for the stability of Europe and Asia. Further cooperation and increased dialogue in the political and security fields between Europe and Asia are definitely needed.
Both Europe and Asia are rich and stable regions, and for this situation to continue in the future, it is not enough to just grab hold.
Mr Masahiro OMURA
Outline of the Paper
The second element of opportunity is multilateral cooperation and exchange among the nations of the region. This is reflected in the dialogues and cooperative approaches of APEC and ARF. 2 In the second half, Prof. discusses Morimoto the Common Security Agenda for Asia and Europe.
Cooperation in dealing with this wide range of problems is in the interest of each of the two regions.
Disarmament Process in Trouble
Amb. Akira HAYASHI
- Recent developments in disarmament
- Nuclear disarmament
- NPT Review Conference 2000
- Missile defense problems
The third position is taken by the non-nuclear states of the Western and Eastern groups, with some nuanced differences. The commitment to a future world without nuclear weapons is why so many countries, almost the entirety of the world's countries, have acceded to the Treaty as non-nuclear weapon states. It should be added that they are more disappointed and frustrated by the fact that the nuclear-weapon states do not share this basic view of the rules of the game than by the slow progress in reducing nuclear weapons.
The development of the NMD program could affect the entire process of nuclear disarmament between the US and Russia and could also trigger an increase in China's nuclear arsenal.
The JIIA-Ifri 9th Joint Conference
Japan-Europe Cooperation toward the 21st Century
Agenda
Energy Issues and Security
Security Issues in Asia and Europe
Akira Hayashi, Ambassador of Japan to Italy and former Ambassador of Japan to the Conference on Disarmament.
List of participants
