Eiji Ogawa and Junko Shimizu
Eiji Ogawa and Michiru Sakane
This chapter reviews past episodes of currency and financial crises to shed light on the different types of assistance provided by the International Monetary Fund (IMF) and regional financial arrangements (RFAs). It is shown that there are significant differences in the role of the IMF in past crisis episodes. In the case of the Asian currency crisis, the financial assistance provided by the IMF was insufficient for the crisis management. Subsequent regional currency swap arrangements are reviewed and it is suggested that more cooperative measures in East Asia are needed. In the Eurozone crisis, the IMF worked closely with the European Commission and the European Central Bank under the Troika, although the role of the IMF was relatively minor in terms of the quantity of financial assistance. The chapter argues that further consideration of coordination between the IMF and the RFAs is necessary.
Eiji Ogawa and Kentaro Kawasaki
Eiji Ogawa, Kolja Raube, Camille Van der Vorst, Dimitri Vanoverbeke and Jan Wouters
The introductory chapter of “Japan, the European Union and Global Governance” sets the scene for the different discussions that follow in the edited volume. International relations between the European Union and Japan throughout the 1970s to 2020 are complex and have ranged from antagonism and neglect to the close ties that developed after 2010. This history needs to be kept in mind when discussing successes such as the Economic Partnership Agreement and Strategic Partnership Agreement that were signed in 2018. Although international trade is one of the main drivers of the EU - Japan relationship, the introductory chapter also touches on other issues that are close to the heart of EU - Japan cooperation. These issues include but are not limited to: security, international finance and the rule of law. Lastly, the introduction situates the rest of the book within the context of the 2020 Covid-19 crisis and its impact on EU - Japan relations.