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Challenges and Possibilities for Global Economic Cooperation after COVID-19: Focus on East Asia

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Abstract

In Japan, the third emergency declaration of the year due to novel coronavirus infections (COVID-19) was lifted on October 1, 2021. The lifting of restrictions came after two and a half months, having been extended and re-extended since July 12. According to the Prime Minister’s Office, as of November 25, 76% of the population in Japan has been vaccinated against COVID-19. The number of COVID-19 infections has rapidly decreased due to the vaccine’s effectiveness, with the number of infections dropping to less than 100 people per day. The government has announced economic support measures, such as the nationwide reopening of GoTo Travel, due to the easing of restrictions. However, even in developed countries, such as the U.S. and Germany, the pandemic is still very severe, with about 100,000 and 50,000 cases respectively, and no end in sight. In Japan, the economy is currently booming, but there are concerns about a sixth wave of infection.

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Notes

  1. 1.

    According to “About the COVID-19 Vaccine” on the Prime Minister’s Office website. https://www.kantei.go.jp/jp/headline/kansensho/vaccine.html.

  2. 2.

    The Sankei News, “US-China ‘Tariff War’ Weighs on Global Economy, Increases Burden on US Companies, Cools Consumption,” May 10, 2019, https://www.sankei.com/economy/news/190510/ecn1905100031-n1.html.

  3. 3.

    WTO STATS. https://stats.wto.org. Accessed 20 October 2022.

  4. 4.

    Ministry of Finance, Japan. https://www.customs.go.jp/toukei/shinbun/trade-st/gaiyo2022_09.pdf. Accessed 21 October 2022.

  5. 5.

    Ministry of Trade, Industry and Energy, Korea. http://www.motie.go.kr/motie/ne/presse/press2/bbs/bbsView.do?bbs_seq_n=166120&bbs_cd_n=81&currentPage=191&search_key_n=title_v&cate_n=&dept_v=&search_val_v=. Accessed 1 October 2022.

  6. 6.

    General Administration of Customs People’s republic of China. < http://www.customs.gov.cn/customs/302249/zfxxgk/2799825/302274/302275/4556778/index.html> Accessed 11 September 2022.

  7. 7.

    Ministry of Foreign Affairs website, “Regional Comprehensive Economic Partnership (RCEP) Agreement,” March 2021. https://www.mofa.go.jp/mofaj/files/000231134.pdf.

  8. 8.

    Ministry of Foreign Affairs website, “China–Japan–South Korea FTA Negotiations,” April 2020. https://www.mofa.go.jp/mofaj/files/000264138.pdf.

  9. 9.

    General Administration of Customs People’s republic of China. http://www.customs.gov.cn/customs/302249/zfxxgk/2799825/302274/302275/4556778/index.html. Accessed 11 September 2022

  10. 10.

    General Administration of Customs People’s republic of China..http://www.customs.gov.cn/customs/302249/zfxxgk/2799825/302274/302275/4556800/index.html Accessed 11 September 2022.

  11. 11.

    Northeast Asia is often referred to as “北東アジア” (literally “northeast Asia”) in Japan, but in South Korea and China it is also referred to as “東北亜” (“Tohokua”), using a traditional notation.

  12. 12.

    Tumen is in China’s Jilin Province, and the Tumen River (written as “豆満江” in Korean) borders North Korea.

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Han, K. (2023). Challenges and Possibilities for Global Economic Cooperation after COVID-19: Focus on East Asia. In: Ishido, H., Mizushima, J., Kobayashi, M., Zhang, X. (eds) Social Fairness in a Post-Pandemic World. Palgrave Macmillan, Singapore. https://doi.org/10.1007/978-981-19-9654-2_5

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  • DOI: https://doi.org/10.1007/978-981-19-9654-2_5

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  • Publisher Name: Palgrave Macmillan, Singapore

  • Print ISBN: 978-981-19-9653-5

  • Online ISBN: 978-981-19-9654-2

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