Navigating between China and Japan: Indonesia and economic hedging

Yan, Karl

doi:10.1080/09512748.2021.2010795

Cited by 9 publications

(3 citation statements)

References 28 publications

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“…Regarding economic hedging, this article believes that it mainly refers to a country or enterprise adopting a two-way economic interaction model when facing fierce economic collision and competition from external powers and maintaining full economic cooperation with competing powers and making full use of the economic advantages of the great powers to Feed back its economic development. At the same time, the independence and autonomy of foreign economic decision-making should be maintained during cooperation to avoid solid economic dependence on significant countries and maximize economic benefits (Yan, 2023).…”

Section: Concept Definition and Operationalizationmentioning

confidence: 99%

Economic Hedging by Small-State Firms in Great Power Strategic Competition: The Case of Malaysian Rail Link (MRL) (2013-2020)

Xinlei

2024

Preprint

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Existing research on how small (weak) states respond to the geopolitical rivalry of great powers often centers around the hedging strategy, where small states tend to maintain their diplomatic independence by taking non-explicit sides and stances to better safeguard their security and interests in the face of increasing external uncertainty. This paper, however, provides another powerful way of explaining this from the perspective of non-state actors through the changing attitudes and strategies of the Malaysian Rail Link (MRL) in the Malaysia-China East Coast Rail Link (ECRL) project. This paper shows that due to the unique nature of firms, small state firms will choose to respond to external great power games with economic hedging, and performance legitimization and particularistic legitimization determine the strength of small states' economic hedging and when firms and the governments they represent choose performance as a way to enhance legitimacy, small state firms will choose to use economic soft hedging as their primary mode of response. Conversely, economic complex hedging is more pronounced when particularistic legitimization is used to enhance legitimacy. The findings of this paper also demonstrate that small state firms have a complex connection with the government. On the one hand, small state firms are the implement and influential representatives of the ruling government's foreign policy, inheriting the government's essential interest pursuits and expectations. On the other hand, the enterprise itself is also a vital interest organization. It will also formulate economic policy according to its own needs. However, the MRL shows that the Malaysian government firmly controls the tiny state firms and is an important tool and instrument for the foreign economic game of the small state government.

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Section: Concept Definition and Operationalizationmentioning

confidence: 99%

Economic Hedging by Small-State Firms in Great Power Strategic Competition: The Case of Malaysian Rail Link (MRL) (2013-2020)

Xinlei

2024

Preprint

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“…Penelitian ini hanya mengikutsertakan artikel ilmiah yang telah melalui proses peer reviewed. Penulis, topik, dan sumber jurnal dari 31 artikel ilmiah tersebut disajikan sebagai berikut: Pertiwi, 2020;Yan, 2021 Kompetisi great power Quayle, 2013;Agastia & Perwita, 2015;Scott, 2019;Oktaviano, dkk, 2020;Pertiwi, 2020;Yan, 2021;Radjendra, dkk, 2022Kompetisi Tiongkok dan Jepang Teoi, 2021Yan, 2021 Konflik di Laut Jepang Agastia & Perwita, 2016 Sasaran Indonesia Faktor Penghambat Pengemuka Konflik di Laut Tiongkok Selatan Agastia & Perwita, 2015;Oktaviano, dkk, 2020;Pertiwi, 2020;Prayoga, 2021;Joesoef, 2022;Nindya & Abiyya, 2022;Radjendra, dkk, 2022 Kurang berkembangnya kerja sama dengan India mekanisme regional juga dibatasi ruang geraknya dengan kebangkitan Tiongkok 46 . Tidak hanya bagi Indonesia, eksistensi Tiongkok mendapatkan respon greatpower 47 .…”

Section: Pembahasanunclassified

Emerging Middle Power dan Tantangan Perwujudan Visi Indonesia 2045 di Asia Pasifik: Systematic Review [Emerging Middle Power and Challenges on Realizing Vision of Indonesia 2045 in Asia Pacific: Systematic Review]

Aristama

2023

j. politica dinamika masalah politik dalam n.a. dan hub. int.

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Amid the limited leverage in Southeast Asia, Indonesia's ambition to be the most influential state in the Asia Pacific calls into doubt. Hence, this study explores the challenges in realizing the four targets of Vision of Indonesia 2045 in the Asia Pacific. While previous research has broadly identified the challenges in this region, no study categorizes them into those targets by detailing the literatures used as a source of knowledge and how to obtain them. As analytical frameworks, this study uses the

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“…Within 10 months after the start of the Jakarta–Bandung high‐speed railway project in January 2016, the Indonesian government required Japan to take part in a railway project to connect the 720 km‐long route between Jakarta and Surabaya in East Java. Given that the Jakarta‐Bandung project was originally proposed as one segment of a long line connecting the Indonesian capital to Surabaya, this requirement contradicted the economic rationale in that China would continuously engage in the railway project to develop harmonious railway networks (Yan, 2021). The offer of this new railway project to Japan had an element of compensation for the Jakarta–Bandung project in which Japan had deeply engaged.…”

Section: Indonesia's Cautious Engagement In the Brimentioning

confidence: 99%

Indonesia's response to the Belt and Road Initiative and the Indo‐Pacific: A pivotal state's hedging strategy

Yoshimatsu

2022

Asian Politics and Policy

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Regional politics surrounding Southeast Asia has exhibited significant developments with China's Belt and Road Initiative (BRI) and counter initiatives through the Indo-Pacific concept. This article seeks to examine Indonesia's strategic reactions to such regional developments. It argues that Indonesia has exhibited policy responses to the BRI and the Indo-Pacific concept by hedging against uncertainties created by China's economic prowess through the adoption of mutually contradictory policy options. Such a hedging strategy was present in various dimensions: adopting economic accommodation and economic diversification regarding the BRI; taking confrontational strategies in maritime security tensions with China while pursuing economic pragmatism for attracting BRI funds; and restraining reliance on China and its BRI by pushing forwards Association of Southeast Asian Nations' (ASEAN) regional initiative that uses the Indo-Pacific term. The findings indicate that Indonesia's position is crucial for bolstering ASEAN's status as the main regional organization under evolving regional politics.

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Navigating between China and Japan: Indonesia and economic hedging

Cited by 9 publications

References 28 publications

Economic Hedging by Small-State Firms in Great Power Strategic Competition: The Case of Malaysian Rail Link (MRL) (2013-2020)

Economic Hedging by Small-State Firms in Great Power Strategic Competition: The Case of Malaysian Rail Link (MRL) (2013-2020)

Emerging Middle Power dan Tantangan Perwujudan Visi Indonesia 2045 di Asia Pasifik: Systematic Review [Emerging Middle Power and Challenges on Realizing Vision of Indonesia 2045 in Asia Pacific: Systematic Review]

Indonesia's response to the Belt and Road Initiative and the Indo‐Pacific: A pivotal state's hedging strategy

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