RIETI - Global Recession and International Economy

Announcement

In the decade after the Asian currency crisis to 2007, international trade enjoyed a sustained period of expansion, backed by a growing U.S. economy, rapid economic development in emerging countries, and an increasing reliance on outsourcing in the global marketplace. After the subprime mortgage crisis triggered a global credit crunch and business downturn, the world economy contracted sharply, and international trade plummeted. Particularly hard hit by this downturn, Japan has the task of addressing its challenges to achieve sustainable economic growth and the development of trade.

This symposium will present the results of research analyzing the present conditions that companies, industries, governments, and the international community are facing in a global economy that has been radically altered by the downturn. It also seeks to discuss world economic problems and propose ways in which companies, industries, and governments can respond. The symposium is made up of 2 parts − 1) "Research Presentation" and 2) "Keynote Speeches and Panel Discussion".

In the "Research Presentation" session, we will begin by analyzing the changes to global trade resulting from the economic downturn, and compare and contrast Japan with other economies. Second, we will show how production networks in East Asia, formed over the past decade or so, have been altered by the shock to the world economy. Third, we will discuss the framework that is needed to alleviate concerns about the potential deterioration of international trade system that were seen after the Great Depression; changes that could lead to the rise of protectionism.

The keynote speeches in the second session will consider the macroeconomic and microeconomic challenges that companies, industries, governments, and the international community now face. In the following panel discussion, panelists will draw from the research presentations and keynote speeches, continuing to discuss the issues that confront these economic actors and considering what needs to be done to move beyond the current recession. They will also discuss what policies and systems are required to address the challenges and how to create them. The panelists will include policymakers and representatives of the business community.

Information

Time and Date: 10:00-17:30 (TBC), Thursday, July 16, 2009
Venue: Nadao Hall, Japan National Council of Social Welfare (Zenshakyo)
Shin-Kasumigaseki Bldg Lobby Floor, 3-3-2 Kasumigaseki, Chiyoda-ku, Tokyo
Language: Japanese / English (with simultaneous interpretation)
Admission: ¥2,000 (an official receipt will be issued)
(Students ¥1,000; please present your student ID at the reception desk)
Host: Research Institute of Economy, Trade and Industry (RIETI)
Supporting Organizations: Institute of Economic Research, Kyoto University (KIER)
Global COE Program, Keio University
Contact: RIETI, (Ms.) Kyoko INOUE
Tel: 03-3501-8398 Fax: 03-3501-8416

Streaming video footage and handouts pertaining to the symposium will be available for download from the RIETI website after the event. For information on RIETI's privacy policy and use of images and videos obtained from REITI symposiums, please visit the RIETI website at http://www.rieti.go.jp/en/privacy/portrait_right.html .

Agenda

Chair: HOSHINO Mitsuhide (Director of Research, RIETI)

10:00-10:05 Opening Address

FUJITA Masahisa (President and Chief Research Officer, RIETI / Professor, Konan University / Adjunct Professor, Institute of Economic Research, Kyoto University)

10:05-14:30 ( Part 1 )

10:05-11:00 Presentation 1 "Changes and Challenges for World Trade in a Global Recession − with the focus on White Paper on International Economy and Trade 2009"

ITO Koji (Senior Fellow, RIETI)

11:00-11:55 Presentation 2 "Production Networks and the Financial Crisis in East Asia"

KUROIWA Ikuo (Director-General, Development Studies Center, Institute of Developing Economies JETRO)

11:55-12:10 Q&A

12:10-13:30 Lunch Break

13:30-14:15 Presentation 3 "Protectionism and the WTO after the Global Financial Crisis − Role, Effectiveness, and Challenges of Governance Under Multilateral Trade Agreements"

KAWASE Tsuyoshi (Faculty Fellow, RIETI / Professor, Faculty of Law, Sophia University)

14:15-14:30 Q&A

14:30-17:25 ( Part 2 )

14:30-15:00 Keynote Speech 1 "Global Disparity and Challenges in the Global Economy"

KOJIMA Akira (Senior Fellow, Japan Center for Economic Research)

15:00-15:30 Keynote Speech 2"International Economic Shock and the Challenges Facing International Corporations"

WAKASUGI Ryuhei (Research Counselor, RIETI / Professor, Institute of Economic Research, Kyoto University/ Adjunct Professor, Department of Economics, Keio University)

15:30-15:45 Coffee Break

15:45-17:25 Panel Discussion: The World Economy in Global Recession and Japan's challenge and approach

Moderator: MORIKAWA Masayuki (Vice President, RIETI)

Panelists

OGAWA Tsunehiro (Former Director-General for International Trade Policy, METI)