Carnegie Endowment for International Peace
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Organizations that set international technical standards face two potential challenges: one from China, which wants to deepen its participation in these groups, and the other from the United States, which might overreact to China’s activities and undermine the system.
Policymakers across Asia are rethinking the region's financial infrastructure—what this means for U.S. interests depends on how Washington responds.
Japan's venture capital industry has grown to unprecedented prominence. Fueled by increasing social legitimacy and support from the Kishida administration, Japan's venture capital is poised to drive the startup ecosystem to the next level.
Importantly, the future of large-value cross-border payments in Southeast Asia and the renminbi’s role depend in part on how Washington responds to efforts aimed at transforming local currency financial infrastructure in the region.
To understand how Japan’s economy changes over time, it is important to differentiate the traditional, new, and hybrid parts that coexist—observers who look at only the traditional areas may conclude that very little has changed, while those more familiar with the new areas see rapid and extensive change.
Japan is determined to foster a startup economy. But every startup ecosystem is built on several components and a strategic conception of how they fit together. Cracking this puzzle will be Japan's challenge.
Japan and the United States would benefit immensely from cultivating closer ties between their startup ecosystems and other efforts to spur shared innovation.
Washington and Tokyo have committed to make technology collaboration a centerpiece of U.S.-Japan relations. But the critical step will be to enhance private sector–led innovation.
The Chinese government has unveiled plans to reshape a vast array of technical standards that shape the products and services that consumers around the world rely on, but Beijing’s designs could spawn unintended consequences.
Beijing is pursuing alternative cross-border payments channels built upon central bank digital currencies as a way to erode the dominance of existing arrangements that rely heavily on the U.S. dollar and U.S.-regulated entities.