Hybrid Session I (with presentations and discussion)
Zoom webinar: https://zoom.us/j/86041407247
Chair: dr hab. Paweł Pasierbiak, Head of the Department of World Economy and European Integration UMCS, Poland
| Opening & welcome | |
| South Korean Outward FDI Strategy n VISE4 Countries: Is It a Win-Win Approach?, Prof. Sang Chul Park, School of Convergence Technology and Energy, Tech University of Korea, South Korea dr hab. Paweł Pasierbiak, Maria Curie-Skłodowska University, Poland | Most economic growth strategies are based on trade and FDI, which are two principles in the market economy. They are carried out based on comparative competitiveness and strategic investment decisions, respectively. South Korea made a legacy in rapid industrialization, focusing on trade and FDI in the global market. As a result, these have become the core instruments to create high economic growth in the last six decades. This strategy is still valid for the EU market since the EU-Korea FTA was concluded in 2011. In order to develop a growth strategy continuously in the EU, South Korea needs proper strategic partners such as VISE4 countries, which have complementary industrial structures and proper market access in the region. This paper aims to analyze South Korea and VISE4 countries’ economic cooperation on a long-term basis and why it matches them strategically and practically for their win-win approach. |
| EU’s Indo-Pacific Strategy and Korea’s Indo-Pacific Strategy: How to increase the performance between the EU and Korea in Indo-Pacific region, Taehyun Chris Oh, Korea Institute for International Economic Policy, South Korea | The EU and Korea have already declared their own Indo-Pacific Strategy. Both have emphasized the importance of the Indo-Pacific region amid the harsh competition between the US and China. As the EU tries to find its potential growth and competitiveness in the future, they think that the Indo-Pacific area is pivotal to their interests. Also, the Korean government came up with the Indo-Pacific strategy in December 2022. The EU and Korea declared their own strategy later rather than the US and Japan. However, the EU and Korea have common interests in the area and, therefore, are, still room for further bilateral cooperation. Among them, both have their competitiveness in the area of culture and ODA, as well as critical technology. Unlike the US, the EU and Korea have to deal with China issues carefully. This is because the EU and Korea have a high dependence on China’s economy and natural resources. We are living in the era of “Polycrisis.” The EU and Korea have to find constructive ways to enhance the bilateral relations. |
| Contending China Diplomatic Approaches in Indo-Pacific Through the Belt and Road Initiative (BRI) Prof. Dr. Djelantik Sukawarsini, Parahyangan Catholic University, Indonesia | China’s economic rise in the last decades, which was followed by its military expansion, had challenged the US position and created strategic competition in the Indo-Pacific Region. The US perceived China as a serious threat due to its capability and superiority in economic, political, and military sectors. The US-China conflict has challenged regional stability, as well as disadvantages to member countries that have good relationships with both countries. China has demonstrated a more advanced approach to gaining support from the Indo-Pacific countries through the Belt and Road Initiative (BRI) infrastructure projects. Through the BRI project, China has the ability to revise the US forces as a hegemonic power in the Indo-Pacific region. The question is how these changes influence the EU’s position in the region and the US. The developing condition in the Indo-Pacific region, especially related to disputes in the South China Sea, would be tested to demonstrate China’s success. |
| Digital consumerism in Indonesia: A preliminary analysis, Wishnoebroto and Dr. Paramitaningrum, Bina Nusantara University, Indonesia | „The rapid growth of Indonesia’s e-commerce business has been fueled by rising consumerism and a population hungry for ease. This growth, however, poses some substantial challenges. Because of low levels of digital literacy in the general public, many people are subject to fear of missing out (FOMO), resulting in quick and potentially hazardous online transactions. Because of insufficient data protection and a general lack of awareness about personal privacy, consumers are vulnerable to identity theft and fraud. Recently, Indonesia encountered a data protection issue, which Gen Z was ignorant of. Educators and community leaders have attempted to raise awareness of the subject of digital literacy and digital safety on a variety of occasions. However, the outcome was far from satisfying, as evidenced by numerous examples of identity theft and criminal use of online data. This study provides an in-depth examination and analysis of this issue, particularly the use of digital currency, which has grown quickly among Indonesia’s Gen Z in major cities.” |
| Causes of Business Crises in Europe and Asia: Case Study Analysis Dr. hab. Joanna Hernik, prof. ZUT, dr. Rafał Mazur and Antonio Minguez-Vera, The West Pomeranian University of Technology in Szczecin, Poland | Crises in the realm of business present formidable challenges for both corporate entities and the economies of entire regions. Europe and Asia, two distinct continents characterized by variations in culture, history, and economic structures, exhibit disparities in the underlying triggers and progression of business crises. The main objective of this article is to determine commonalities and distinctions observed in business crises within Asia and Europe, elucidated through the examination of select case studies. Undoubtedly, companies operating in both Asian and European landscapes may encounter issues related to mismanagement, including burdensome debt. Nevertheless, it is imperative to acknowledge that Europe and Asia exhibit unique economic, cultural, and regulatory traits, exemplified, for example, by the prevalence of family-controlled enterprises in Asian countries. Therefore, this article seeks to identify shared causative factors underpinning crises in both Europe and Asia while simultaneously exploring distinct crisis factors in the realm of business across these regions. The research endeavors are underpinned by an analysis of case studies encompassing 20 companies (both European and Asian) that have grappled with severe crises. Among them, there are companies such as AirAsia Japan, which filed a petition for bankruptcy proceedings in 2020, and Spanair Airlines, which went bust in 2012, just to name a few examples. In the research part, we use the comparative case study analysis method. The research undertaken is exploratory in nature; therefore, we do not formulate a thesis. A thesis will be the result of the analysis and may serve as the basis for further research. |
| Indo-Pacific Economic Framework (IPEF). Implications for supply chains Prof. dr. hab. Bogusława Drelich-Skulska and Dr. hab. Sebastian Bobowski, prof. UEW, Wrocław University of Economics & Business, Poland | „The Indo-Pacific Economic Framework (IPEF) is an inclusive economic initiative initiated by US President Biden in May 2022, currently involving 15 Asia-Pacific countries, i.e. the US, Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, and Vietnam. Its primary goal is to increase prosperity and stability by strengthening the resilience, inclusiveness, sustainability and fairness of the region’s economies. The negotiations focus on four pillars: (1) Trade; (2) Supply Chains, (3) Clean Energy, Decarbonization, and Infrastructure, and (4) Tax and Anti-Corruption. The aim of the paper is to indicate the basic assumptions and potential implications of IPEF, with particular emphasis on supply chains. „ |
| Romania’s Relations with Asia-Pacific Countries in 2023 Dr. Marcela Ganea, Belt and Road Initiative Research Lab, Romania | „The purpose of my research has been to identify the status of Romania’s diplomatic and bilateral relations with the 49 Asia-Pacific countries in 2023. Romania does not have a well-structured strategy towards Asia-Pacific countries. The diplomatic and political discourse imitates the EU and the US foreign policies. In statements, we can recognize the wording of the US and EU strategies for Asia-Pacific: The bilateral relations with Asia-Pacific countries with Romania vary. For instance, advanced countries, such as Japan, have economic interests and significant investments in Romania, while others, such as South Korea, are not very present, although Romania would like that. Where diplomatic and bilateral relations are active, this is due either to the proactive behavior of those particular countries, such as Japan or Pakistan or to the touristic interest of the Romanian politicians who want to travel, such as Bali. Where economic relations are functional, this is due to the entrepreneurial, investment-prone behavior of particular countries. There are countries where Romania opened both embassies and consulates for obvious touristic reasons, such as Bali, where the low number of Romanian expats does not justify these costs. Still, the desire of Romanian politicians to go to Bali does. The reluctance to develop further relations with particular countries may have practical reasons, such as potential problems. For instance, in April 2023, an unpleasant situation arose when Romania discovered that only 10% of the Bangladeshi citizens who had applied or worked in Romania actually showed up at their employers.” |
| Gender aware trade policy in the Asia-Pacific region Dr. Anna Wróbel, University of Warsaw, Poland | „How to use trade policy to advance gender equality? What are the best practices to make inclusive trade a reality? How, exactly, the new FTA’s approach could contribute to women’s economic empowerment? An inclusive trading system creating equal opportunities for participation in international trade regardless of gender has become one of the major issues addressed by the WTO. A sign of the increased interest in women’s empowerment at the WTO is the adoption of the Declaration on Trade and Women’s Economic Empowerment at the Buenos Aires Ministerial Conference. It is the first multilateral initiative to increase women’s participation in trade. Supporters of the declaration committed themselves, inter alia, to exchange experience and best practices on inclusive trade policies. WTO initiatives for women’s economic empowerment seem particularly relevant given the strong negative impact of the COVID-19 pandemic on women’s economic situation worldwide. Further support of women’s economic empowerment should be important to post-crisis economic recovery. To support women’s economic empowerment some WTO members have introduced gender chapters into its FTAs. Trade agreements concluded and negotiated by Asia Pacific countries are a good example of this policy. Canada, Australia, New Zealand, and Chile, among others, are such an example. The paper aims to answer the question: How can trade agreements contribute to gender-aware trade policy in the Asia Pacific? To answer these questions, an analysis of the trade agreements concluded and negotiated by Canada, Australia, New Zealand and Chile will be conducted.” |
| Sustainability vs. Responsibility. Anthropological view at garment industry workers in Bangladesh Aleksandra Dzik, Adam Mickiewicz University in Poznan, Poland | „Sustainability and production have become important concepts in recent years, especially in view of the climate crisis, the effects of which we are already facing today. They are being eagerly used by manufacturers who, responding to customers’ needs, describe their products as green and sustainable, made with respect for the environment and people. These descriptions are also a response to the directive introduced in March 2022 by the European Union on the circulation of materials in production, their recycling, and respect for social rights and the environment. In my presentation, I would particularly like to highlight the application of the above guidelines in the fast fashion industry, their impact on garment production conditions in Bangladesh, as well as the social effects of the application of so-called sustainable production in Western countries. The presentation will be based on anthropological materials I acquired during research for my doctoral dissertation, in which I am studying the production of values and consumer attitudes in the fast fashion industry from an employee’s perspective.” |
| Insects as Food: European Perspective vs Asia-Pacific Experience dr hab. inż. Agnieszka Orkusz, prof. UE, Wrocław University of Economics & Business, Poland dr hab. inż. Joanna Harasym, prof. UE, Wrocław University of Economics & Business, Poland | The presentation illuminates the contrasting views and applications of entomophagy (insect-eating) within the respective regions. Asia-Pacific communities have historically embraced insects as a dietary staple, recognizing their nutritional potency and environmental sustainability. Varieties like crickets, silkworms, and grasshoppers are not only entrenched in local diets but also celebrated in regional gastronomies, offering a symphony of unique flavors and textures. Conversely, European societies have been comparatively reticent, with entomophagy often met with cultural apprehension and culinary skepticism. However, the increasing urgency for sustainable food sources has kindled interest in insects as viable nutrition alternatives in Europe. Rich in proteins, vitamins, and minerals, insects are now being reconsidered for their low environmental footprint and potential role in food security. Innovative start-ups and culinary pioneers in Europe are thus working diligently to normalize insect consumption, crafting appealing products and dishes that ease the Western palate into accepting this unconventional protein source. The presentation will dissect the historical, cultural, and economic factors influencing entomophagy in both domains. It will spotlight the strides made by the Asia-Pacific in establishing insects as food and the burgeoning acceptance within Europe. Through a comparative lens, attendees will understand the motivations, challenges, and opportunities entailed in promoting insects as a nutritious and sustainable food choice, alongside the prospects of fostering global acceptance and integration of insects into diverse culinary traditions. |
| Questions & Discussion |
