The idea of creative reuse urbanism — the roles of local creativities in culturally sustainable place-making : Tokyo, Bangkok, Singapore

Gentrification is a part of the process of urban renewal which generates significant, and often negative, social impact on existing neighborhood structures, as it tends to be driven predominantly by simple rules of an economy and imperatives of a globalized, "free" market, insensitive to the subtleties of local culture and values. This idea of creative reuse urbanism questions the necessity of extreme, damaging impacts of gentrification. It argues for an urbanism which is culturally rooted, locally related and deeply contextualized. This chapter shows that such urbanism is not just another utopian concept, but a living reality. Examples from Tokyo, Bangkok and Singapore demonstrate a rich spectrum of possibilities, a kind of pre-gentrification which has the capacity to get involved in creative reuse and recycling of existing stocks and inheritances, thus becoming a positive contributor to sustainable urban regeneration. Presented reused buildings and introduced activities are active ingredients in larger process of place-making in the three cities. Tokyo, Bangkok and Singapore were observed through the lenses of sustainability and cultural difference, with main focus on intersections between the practices of reuse and local creativity.

Analogue stress

Made from reworked and reanimated found industrial and discarded personal footage. The main focus is the soundtrack which has been reconstructed from scratches, pen marks, Letraset strips and the music and phrases of found films.

Published versions: #1, #2, #3 are all slightly different to each other.

Economic linkages across commodity futures : hedging and trading implications

We investigate cross-market trading dynamics in futures contracts written on seemingly unrelated commodities that are consumed by a common industry. On the Tokyo Commodity Exchange, we find such evidence in natural rubber (NR), palladium (PA) and gasoline (GA) futures markets. The automobile industry is responsible for more than 50% of global demand for each of these commodities. VAR estimation reveals short-run cross-market interaction between NR and GA, and from NR to PA. Cross-market influence exerted by PA is felt in longer dynamics, with PA volatility (volume) affecting NR (GA) volume (volatility). Our findings are robust to lag-specification, volatility measure, and consistent with full BEKK-GARCH estimation results. Further analysis, which benchmarks against silver futures market, TOCOM index and TOPIX transportation index, confirms that our results are driven by a common industry exposure, and not a commodity market factor. A simple trading rule that incorporates short-run GA and long-run PA dynamics to predict NR return yields positive economic profit. Our study offers new insights into how commodity and equity markets relate at an industry level, and implications for multi-commodity hedging.

Common industry exposure in seemingly unrelated commodities

We propose and document robust evidence of cross-market return, volatility, and volume interactions among futures contracts written seemingly unrelated commodities exposed to a common industry. On the Tokyo Commodity Exchange, we find such evidence in natural rubber (NR), aluminum (AL) and gasoline (GA) futures markets, which are complementary commodities heavily consumed by Japan's automobile industry. Our VAR results indicate that (i) for shorter dynamics, NR and GA volatility both influence AL volatility; GA volume affects NR volatility and volume; the GA market is immune to both NR and AL trading activities; (ii) for longer dynamics, AL volume affects both NR volume and GA volatility; NR volume influences GA volume. These results are robust to lag-specifications, volatility measures and are consistent with full BEKK-GARCH estimates. Further analysis using the silver contract, TOCOM and TOPIX transportation indices, shows that a commodity market factor cannot explain our result. Our results offer insights into how commodity and equity markets relate at an industry level.

Japanese investment on the Gold Coast : the interface of globalization and locality

This study explored the interface between the forces of globalization and a given place, at a given time, the Gold Coast during the 1980s. The global economic boom of the 1980s was one in which the role of Japan was particularly important. In less than half a decade capital flows from Japan surged to make it the world's largest investor. Locations in the Pacific Basin were favoured destinations for Japanese investment, one of the most significant was the Gold Coast. Japanese capital and tourism helped transform its urban area from a national resort to an international tourist destination and resort centre, The surge of capital arriving to the Gold Coast was a function of economic conditions in Japan, as was its steep reduction after November 1989, Thus the Gold Coast became integrated into global capital flows and so dependent on decisions made in Tokyo, one of the main financial centres of the world. However this study has also sought to explore a more complex reality; namely, that this place also became the interface of complex cultural forces and perceptions. The wealth of the Japanese investors on the Gold Coast enabled them to realize their dream of developing projects in the most fashionable global styles. These styles were essentially Western, and it was onto these that their Japanese owners ascribed their own meanings; meanings that reflected the cultural baggage that they had brought from Japan, and through which were filtered the economic and environmental realities of the Gold Coast. The Gold Coast as locality also included residents. Hence it became an interface between two different groups of people, the Japanese and the strongly Anglo-Celtic local community. Some in the local community perceived the Japanese presence as a threat to their perception of the Gold Coast, in fact, a threat to their perception of Australia's national identity. A campaign based on the politics of memory of the Japanese developed on the Gold Coast. Within weeks it became a national debate in which isolationalist, if not xenophobic traditionalists, concentrated on the Gold Coast challenged the economic rationalism and multicultural tolerance of the self-interested and ideologically convinced advocates of globalization. Governments at all levels sought to arbitrate, to legitimize standpoints, but more often than not were seen to move into positions of ineffectual flexibility. The forces of globalization on the Gold Coast were catalysts for change that in turn provoked local opposition which rapidly became a debate about national identity and direction. It is in the exploration of the complex and contradictory economic, cultural and political forces engendered by globalization that this study has sought to make a distinctive contribution.

Chinese perceptions of Japan's security strategy post-11 September 2001

Looking mainly at the changing nature of the U.S.-Japan security alliance since 11 September 2001, this thesis argues that the recent emergence of a more assertive Japanese security policy has led to a more robust Chinese response to perceived security challenges from Tokyo and Washington.