ERIA Newsletter February 2018 Edition

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www.eria.orgFRAMESnews . thoughts . updatesFebruary 2018Japan LDP’s Secretary General Toshihiro Nikai Visits ERIAINDEXFeatured Story1Thoughts from ERIA3Top Stories5Publications10Call for Proposals11Upcoming Events12The Economic Research Institute for ASEAN and East Asia wasvery honoured to receive a special visit from the SecretaryGeneral of Japan’s ruling Liberal Democratic Party, HonourableToshihiro Nikai, on Saturday 20 January 2018.Mr Nikai was in Jakarta as the special envoy on behalf of Prime Minister Shinzo Abeto celebrate the 60th anniversary of bilateral ties between Indonesia and Japan.Considered the ‘father of ERIA’ since he conceived ERIA as the ‘OECD of East Asia’ in2006, Mr Nikai was pleased with ERIA’s progress over the past ten years since it wascreated.‘It gives me a great pleasure to see that ERIA has extended its activities and receivedhigh international recognition as I engaged in the launch of ERIA,’ said Mr Nikai.1

www.eria.orgFeatured StoryPresident of ERIA Prof HidetoshiNishimura and the Special Advisorto the President of ERIA Prof AkikoYamanaka welcomed the delegation.Prof Nishimura acknowledged MrNikai’s enormous contributions toERIA, saying that ‘the position of ERIAas an international organisation wasestablished with the assistance of MrNikai.’Mr Nikai was accompanied by adelegation that included Ambassadorof Japan to ASEAN Amb KazuoSunaga, Ambassador of Japan to theRepublic of Indonesia Amb MasafumiIshii, as well as other diplomats anddignitaries. The new ASEAN SecretaryGeneral Dato Paduka Lim Jock Hoialso joined the meeting. After ameeting in ERIA’s Chairman’s roomto discuss ERIA’s past achievementsand future plans, Mr Nikai and hisdelegation proceeded to ERIA’snewly opened Information Centre.Mr Nikai viewed ERIA’s publicationsand a short video about ASEAN@50,ERIA’s signature project in 2017 withthe Philippines government whowas chair of ASEAN during its 50thanniversary. n‘It gives me a greatpleasure to see thatERIA has extended itsactivities and receivedhigh internationalrecognition as Iengaged in thelaunch of ERIA,’said Mr Nikai.Mr Toshihiro Nikai and his delegation visit ERIA’s newly opened Information Centre.Members of the Delegation 22Hon Toshihiro Nikai, SecretaryGeneral, Liberal DemocraticParty Member of the House ofRepresentativesMr Koichi Hagyuda, Deputy ChiefCabinet Secretary of LDPMr Motoo Hayashi, ActingSecretary General of LDPMr Tetsushi Sakamoto, DeputySecretary General of LDPMr Keiichiro Tachibana, DeputySecretary General of LDPMr Hideki Miyauchi, a member ofHouse of RepresentativesMr Toshitaka Oooka, a memberof House of RepresentativesMr Takaaki Katsumata, a memberof House of RepresentativesMr Toru Miki, a member of theHouse of Councilors Mr Shigeki Kobayashi, a memberof House of RepresentativesMr Nobuyasu Nikai, ExecutiveSecretary to SG of LDPMr Hiroto Izumi, Special Advisorto the Prime MinisterMr Kazuo Sunaga, Ambassadorof Japan to ASEANMr Masafumi Ishii, Ambassadorof Japan to the Republic ofIndonesia. n

Thoughts from ERIAThoughts from ERIAFebruary 2018Rethinking a Circular Economyin the Face of Climate Change‘ Most climate scientists agree the mainRizqy AnandhikaResearch Associate at ERIAWorld leaders and climatenegotiators have continued effortsto address climate change despitethe United States relinquishingleadership. So it was perhaps withsome irony to observers when USPresident Trump visited Viet Namearlier this month, just after TyphoonDamrey claimed scores of livesamid widespread flooding, sinceresearchers believe that extremeenvironmental events like hurricanesand typhoons are likely exacerbatedby climate change.The 2017 Atlantic hurricane seasonis now among the top 10 all-timemost active seasons on record afterHarvey, Irma, and Maria and theseseemingly back-to-back catastrophicevents should make us look deeperat ourselves.Most climate scientists agree themain cause of the current globalwarming trend is the burning offossil fuels, which emits greenhousegases into the atmosphere and trapheat. Other human activities, fromcause of the current global warming trendis the burning of fossil fuels, which emitsgreenhouse gases into the atmosphere andtrap heat.‘everyday activities to agriculture anddeforestation, also contribute tothe increase in greenhouse gases.The trapped heat increases theEarth’s temperature and changes theclimate.With cheap fossil fuels as the mainengine of economic growth, manypolitical and corporate leaders arereluctant to reduce or replace it.And the business community hasoften seen environmental policiesas a threat to competitiveness- but there are reasons to viewresource efficiency (in other words,profitability and sustainability) as anopportunity.Resource efficiency is the hallmarkof the ‘circular economy’, a conceptthat has been around for decadesand is gaining traction as a reactionto the traditional ‘linear’ businessmodel of ‘take, make and dispose’. Itencourages firms to change the waythey operate, and pursue sustainableeconomic growth by managingresources more effectively throughreusing, recycling, and minimisinglandfills.On the production side, the circulareconomy aims to minimise anynegative effects to the environment,and waste from the productionprocess is minimised or eveneliminated as firms shift toward‘closed loop’ production cycles.Hence, ensuring an efficient use ofresources is the best way to balanceeconomic growth and environmentalconcerns.On the other hand, the circulareconomy can optimise consumptionwhile minimising waste throughthe mindset of the consumer whoembraces extending product lives.Such a consumer would repair anitem rather than replace it, or choosea more durable product instead of acheaper but less durable alternative.And leading the way of the circulareconomy, are millennials and theirpropensity for a ‘shared economy’.According to a 2015 Goldman Sachs3

www.eria.orgreport, millennials are poisedto reshape the global economybecause they are reluctant to buyitems like cars, homes and luxurygoods, preferring instead to accessproducts without the burdens ofownership. Juniper Research’s latestattempt to quantify the so-called‘sharing economy’ sees it placea value on the sector of US 40.2billion by 2022, compared with thisyear’s US 18.6 billion.The circular economy is forecast togenerate US 4.5 trillion in additionaleconomic output by 2030 accordingto Accenture, which identifiesbusiness models that decouplegrowth from natural resourcesand turn the focus to generatingrevenue from waste and innovative,customer-focused productsand services. By comparison,PricewaterhouseCoopers predictedthat Germany’s gross domesticproduct by purchasing power parityin 2030 would be the seventh largestat US 4.707 trillion.However, there are four mainchallenges to the circular economy.First, is integrating the entire productlifecycle from raw material extractionto disposal (or preferably reuse andrecycle) and completely closingit. Governments can promote thedemand of circular products by fiscalincentives such as VAT reductionfor secondary raw materials, taxon landfilling and tax incentives forproducers or public procurement,which favour circular products.Second, is the lack of a commonframework that supports a circulareconomy and modes of sustainableproduction and consumption.With one, there would be greaterinternational cooperation, andcertainty and facilitation forinvestments.Third, is the disruptive nature of44Thoughts from ERIAcircular models that highlights theuncertainty and risks regarding thevalue of circular inputs, balancesheet extensions, longer lifetimeof assets and the cross-industrynature of circular models. Financialinstitutions should redesigninvestment strategies and eligibilitycriteria to ensure the benefits ofcircular supply chains.Finally, it is undeniable that weneed energy to recycle waste.But it doesn’t take away from thenecessity to substantially reduce theconsumption of natural resources, tointensify reusing and repairing, andenforce longer product durability.Many politicians are wary of thecircular economy model becausethe effects of reducing the useof materials and the productionof goods, and an extended useand lifespan of goods, do not allcount towards economic growth.Therefore, governments have tosupport innovative business modelsbased on closed cycles and resourceefficiency.In many developing countries,population numbers and economiesare forecast to grow in thecoming decades. The increaseddemand would have an impact oncommodity prices, and pressureindustries to use cheaper alternativeslike second-hand raw materials.Hence, there would be room fornegotiations between governments,businesses and civil societies toconsider social, business andcommercial benefits.The circular economy model isstill far from perfect, but it has anecessary objective to restructurethe economy in a sustainable way.Policymakers have a responsibilityto set a regulatory environmentthat encourages corporations tothink creatively about the circulareconomy and cooperate on a globallevel. This would hopefully reducethe pressure on natural resourcesand temper the human-inducedclimate change. nThe circulareconomy modelis still far fromperfect, but ithas a necessaryobjective torestructure theeconomy in asustainable way.Policymakers havea responsibility toset a regulatoryenvironmentthat encouragescorporations tothink creativelyabout the circulareconomy andcooperate ona global level.This wouldhopefully reducethe pressure onnatural resourcesand temper thehuman-inducedclimate change.

TOP StoriesFebruary 2018TOP StoriesERIA and IDE-JETRO Hold Roundtable onConnectivity and Innovation‘Today, countriesare at least facingtwo unbundlingtranches: the second(manufacturing) andthe third (the newwave), this shouldserve as an impetusfor policymakers toaddress the distinctchallenges that comewith the second andthird unbundling’The Economic Research Institute forASEAN and East Asia (ERIA) and theInstitute of Developing Economies- Japan External Trade Organization(IDE-JETRO) held a Roundtableon Connectivity and Innovation inJakarta on 30 January 2018.The one-day event was heldin conjunction with the annualResearch Institutes Networkmeeting for fiscal year 2017 thatwas held the day before. Severalforeign dignitaries attended theevent, namely H.E. Amb ElizabethP. Buensuceso, Ambassador of thePhilippines to ASEAN; H.E. Amb KimYoung Chae, Ambassador of theRepublic of Korea to ASEAN; H.E.Amb Suresh Reddy, Ambassador ofIndia to ASEAN; H.E. Amb StephanieLee, Ambassador of New Zealandto ASEAN; and H.E. Amb PhaspornSangasubana, Ambassador ofThailand to ASEAN.In his opening remarks, ERIAPresident Prof Hidetoshi Nishimuraunderlined the urgency of discussingconnectivity and innovation towardsASEAN Economic Community (AEC)2025.‘Under the concept of the thirdunbundling, the image ofinfrastructure will be alsodeconstructed, from physical todigital. I am looking forward todiscuss with you how this movementchange the concept of connectivity,and what is necessary towards theAEC 2025 on connectivity issues,’said Prof Nishimura.Moreover, he stated that innovationwould become an importantelement for ASEAN member states toescape from the middle income trapand whether the economic policyof each country could promoteinnovation.ERIA’s Chief Economist ProfFukunari Kimura delivered aninsightful presentation How CanConnectivity Support Innovation?,which supported Prof Nishimura’sstatements. Prof Kimura emphasisedthe need for countries to acknowledge the imminence of the thirdunbundling and to incorporate it intothe development strategy. He statedthat AEC, ASEAN Socio-CulturalCommunity (ASCC), and Master Planof ASEAN Connectivity (MPAC) mustbe reorganised in order to take careof old agenda and to prepare fornew challenges.Both Prof Nishimura and ProfKimura used the concept of thethird unbundling introduced by ProfRichard Baldwin, one of the world’sgreatest thinkers on globalisation, inhis book The Great Convergence:Information Technology and theNew Globalization published in 2016.ERIA and the Centre for Strategic andInternational Studies (CSIS) held aprivate discussion with Prof Baldwinlast year in Jakarta.The afternoon sessions of theroundtable were divided into twosessions, the first session discussedConnectivity in East Asia and thesecond session discussed Innovationin East Asia.In her closing remarks, Dr Yuri Sato,the executive vice president of IDEJETRO reiterated the key message ofthe day.‘Today, countries are at least facingtwo unbundling tranches: thesecond (manufacturing) and the third(the new wave), this should serveas an impetus for policymakers toaddress the distinct challenges thatcome with the second and thirdunbundling,’ she said. n

TOP Storieswww.eria.orgERIA and IDE-JETRO Hold ResearchInstitute Network Meeting for FY 2017‘I hope today’sdiscussionleads thefuture researchdirection, notonly for nextyear, but alsofor the next tenyears,’ said ProfNishimura.The annual Research InstitutesNetwork (RIN) meeting was held inJakarta, Indonesia on 29 January2018, organised by the EconomicResearch Institute for ASEAN andEast Asia together with the Instituteof Developing Economies - JapanExternal Trade Organization (IDEJETRO).The meeting was attended by RINmembers from 15 organisationsacross East Asia Summit countries,moderated by Dr Hank Lim GiokHay from the Singapore Institute ofInternational Affairs.ERIA President Prof HidetoshiNishimura welcomed the RINmembers as he delivered his openingremarks. He went on to brieflyexplain ERIA’s deliverables in 2017 aswell as mentioning a milestone thatERIA will pass in 2018 as it celebratesits 10th anniversary.‘I hope today’s discussion leads thefuture research direction, not onlyfor next year, but also for the nextten years,’ said Prof Nishimura.Mr Daisuke Hiratsuka, President,Bangkok Research Center, JETROBangkok / IDE-JETRO applaudedERIA’s achievements, adding that‘there is much work should be doneby ERIA.’After the opening remarks, themorning session continued withshort presentations from twoMalaysian research institutes andERIA. Shigeki Kamiyama, ERIA’sDirector General for ResearchAdministration, delivered apresentation on ERIA’s ResearchProjects in FY 2017, followed byseveral presentations on ERIA’skey projects in FY 2017 by ERIAresearchers.In the afternoon, presentations weremade on collaborative researchprojects between ERIA and RINmembers in FY 2017. Prof FukunariKimura, ERIA’s Chief Economist, alsopresented ERIA’s future study plansincluding the calls for proposal forcollaborative research projects in FY2018.The last presentation was deliveredby Mr Daisuke Hiratsuka on akey research project by BangkokResearch Center, JETRO Bangkok /IDE-JETRO.Dr Hank Lim, who was also theChairperson of RIN, wrapped up themeeting and delivered his closingremarks. n

TOP StoriesFebruary 2018ERIA Holds ‘Why Think Tank Matters’ Discussion‘Think tanks playan important rolein shaping publicpolicy aroundthe world,’ saidIzuru Kobayashi.Think tanks play an important rolein shaping public policy around theworld, said Izuru Kobayashi, theChief Operating Officer of ERIA,in his opening remarks for thediscussion ‘Why Think Tanks MatterMore Than Ever’.The event, held by ERIA in its Jakartaoffice, was part of Why Think TanksMatter Events held by more than160 organisations worldwide inmore than 100 cities in anticipationof the launch of this year’s GlobalGo To Think Tank Index (GGTTI)launch. The GGTTI is organised bythe Think Tanks and Civil SocietiesProgram (TTCSP) at the Universityof Pennsylvania to acknowledgethe important contributions of thinktanks worldwide.Lydia Ruddy, ERIA’s Director ofCommunications, acted as the hostand moderator of the discussion.The panellists include RahimahAbdulrahim, the Executive Directorof Habibie Center; Rainer Heufers,the Executive Director of the Centrefor Indonesian Policy Studies (CIPS);and Dr Krishnamurthy Ramanathanof Sydney Graduate School ofManagement, Western SydneyUniversity and Former Director ofthe United Nations ESCAP Asianand Pacific Centre for Transfer ofTechnology.Abdulrahim kick-started thediscussion by saying that ‘think tankbridges the gap between academicsand stakeholders.’ She then explainedhow think tanks and their capabilitiesto reach stakeholders such aspolicymakers and the public would beable to help create studies that benefitpeople.Rainer Heufers, who founded CIPS,added into the topic by elaboratingthe importance of think tank now withthe rise of populism because withoutthink tanks that inform people,populism can be used for personalagenda of some groups. ‘We try tobreak issues down to the things thatmatters to people,’ he said. UsingCIPS as an example, he stated thatthink thank can even do more, ‘Weare research-based advocacy group,as we work to inform the public andmake a change.’Discussing the use of technology inpolicy and the society, Dr Ramanathansaid that with the technologicaladvancement today, technologicalissues and challenges came along thatcreated another gap in the currentworld. He stated that think tankscould fill in and help policymakersunderstand the implication of thesituations.As the discussion widened into realmof technological advancement, RainerHeufers touched upon the importanceof using social media for think tanks.‘Do you really need social media?Yes, but what do you get from that?Does it make a difference? Sometimesbeing printed in Kompas is moreimportant,’ said Heufers, referring toIndonesia’s largest daily newspaper.7

www.eria.orgIma Abdulrahim stated that inemerging economies, socialmedia can bridge the society andpolicymakers. ‘In Indonesia (theuse of social media) is important,because there is a big gap betweenpoliticians and the members of theirconstituents. I think, think tanksmay end up having to fill that gap,’said Abdulrahim. Dr Ramanathanthen added on how social media isalso important to think tanks as itenable think tanks to have a widerreach.This last part of the discussionprompted a question from theTOP Storiesaudience which questioned thepanellist on how to reach theyounger generations who, asmentioned by Dr Ramanathan,mostly have a ‘data driven instantgratification mentality.’ Using theTalking ASEAN series from HabibieCenter as an example, RahimahAbdulrahim answered, ‘When wedo our events, we keep them open,we encourage university and highschool students to join.’Heufers shared his organisation’sexperience working with the younggeneration. ‘You need to develop thiscontent for the youth, but we are notat that age group anymore,’ he said,adding that they conduct severalfocus group discussions with theyouth in order to get their insightswhen developing an online courseabout faith for the young generation.ERIA was recognised as one of thebest regional studies centres in theworld and improved its rankingin several categories of the 2016GGTTI. In the last five years, ERIA hasmanaged to continuously improveits rankings and recognition in morecategories. nZalora CEO: Indonesia can be One of the World’s LargestDigital Economies‘Many IndonesianMSMEs still needcapacity buildingto grasp thedevelopmentopportunity broughtby economicdigitalisation.’Photo credit: DiginationIndonesia has the potential to be oneof the biggest digital economies inthe world, said Anthony Fung, ChiefOperating Officer of e-commercesite Zalora Indonesia, in a paneldiscussion The State of E-commercein Indonesia in Jakarta on 24 January2018.moderated the panel, which was partof the Internet Retailing Expo Asia(IRX Asia) 2018 held at Pullman HotelJakarta. IRX Asia 2018 was the thirdedition of IRX for Asia and it broughttogether more than 3,000 attendeesand 80 exhibitors in the two-dayevent.ERIA’s economist Dr Lurong ChenDuring the same panel, the Director88of E-commerce of Indonesianretailer PT Mitra Adiperkasa Tbk(MAP), S. Ravi Kumar, said thate-commerce is the way for micro-,small- and medium-sized enterprises(MSMEs) to grow as it provides equalopportunity for SMEs to d

economy, are millennials and their propensity for a ‘shared economy’. According to a 2015 Goldman Sachs Rethinking a Circular Economy in the Face of Climate Change Rizqy Anandhika Research Associate at ERIA Most climate scientists agree the main cause of the current global warming trend is the burning of fossil fuels, which emits

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