Prospects for Monetary Cooperation in East Asia

The purpose of this paper is to reexamine the exchange rate policy of the Republic of Korea, and its role in promoting financial and monetary cooperation in East Asia in the wake of the 2008 global financial crisis. The Republic of Korea would not actively participate in any discussion of establishing a regional monetary and exchange rate arrangement as it is expected to maintain a weakly managed floating regime. The People’s Republic of China (PRC) has been fostering the yuan as an international currency, which will lay the groundwork for forming a yuan area among the PRC; the Association of Southeast Asian Nations (ASEAN); Hong Kong, the PRC; and Taipei,China. Japan has shown less interest in assuming a greater role in East Asia’s economic integration due to deflation, a strong yen, slow growth, and political instability. Japan would not eschew free floating. These recent developments demand a new modality of monetary cooperation among the Republic of Korea, Japan, and the PRC. Otherwise, ASEAN+3 will lose its rationale for steering regional economic integration in East Asia.exchange rate policy; republic of korea; financial monetary cooperation; east asia; global financial crisis; regional economic integration

Electrical Investigation of the Oblique Hanle Effect in Ferromagnet/Oxide/Semiconductor Contacts

We have investigated the electrical Hanle effect with magnetic fields applied at an oblique angle ({\theta}) to the spin direction (the oblique Hanle effect, OHE) in CoFe/MgO/semiconductor (SC) contacts by employing a three-terminal measurement scheme. The electrical oblique Hanle signals obtained in CoFe/MgO/Si and CoFe/MgO/Ge contacts show clearly different line shapes depending on the spin lifetime of the host SC. Notably, at moderate magnetic fields, the asymptotic values of the oblique Hanle signals (in both contacts) are consistently reduced by a factor of cos^2({\theta}) irrespective of the bias current and temperature. These results are in good agreement with predictions of the spin precession and relaxation model for the electrical oblique Hanle effect. At high magnetic fields where the magnetization of CoFe is significantly tilted from the film plane to the magnetic field direction, we find that the observed angular dependence of voltage signals in the CoFe/MgO/Si and CoFe/MgO/Ge contacts are well explained by the OHE, considering the misalignment angle between the external magnetic field and the magnetization of CoFe.Comment: 19 pages, 8 figure

Financial contagion in the East Asian crisis

노트 : Book Title: International Financial ContagionBook Chapter: Financial contagion in the East Asian crisi

Physiological Antioxidative Network of the Bilirubin System in Aging and Age-Related Diseases

Oxidative stress is detrimental to life process and is particularly responsible for aging and age-related diseases. Thus, most organisms are well equipped with a spectrum of biological defense mechanisms against oxidative stress. The major efficient antioxidative mechanism is the glutathione system, operating a redox cycling mechanism for glutathione utilization, which consists of glutathione and its peroxidase and reductase. However, this system is mainly effective for hydrophilic oxidants, while lipophilic oxidants require another scavenging system. Since many age-related pathological conditions are related to lipid peroxidation, especially in association with the aging process, the physiological role of the scavenging system for lipophilic oxidants should be considered. In this regard, the biliverdin to bilirubin conversion pathway, via biliverdin reductase (BVR), is suggested to be another major protective mechanism that scavenges lipophilic oxidants because of the lipophilic nature of bilirubin. The efficiency of this bilirubin system might be potentiated by operation of the intertwined bicyclic systems of the suggested redox metabolic cycle of biliverdin and bilirubin and the interactive control cycle of BVR and heme oxygenase. In order to combat oxidative stress, both antioxidative systems against hydrophilic and lipophilic oxidants are required to work cooperatively. In this regard, the roles of the bilirubin system in aging and age-related diseases are reassessed in this review, and their interacting networks are evaluated

Performance and Fouling in Pre-Denitrification Membrane Bioreactors Treating High-Strength Wastewater from Food Waste Disposers

The study investigated the performance of the pre-denitrification membrane bioreactor (MBR) process to treat high-strength wastewater generated from food waste disposals. Extracellular polymeric substances (EPS) as membrane foulant and microbial community profiles were analyzed under different hydraulic retention time (HRT) operation conditions. The pre-denitrification MBR was effective for treating food wastewater with high chemical oxygen demand (COD)/N resulting in high total nitrogen (TN) removal efficiency. The operational data showed that effluent qualities in terms of COD, TN, and TP improved with longer HRT. However, membrane fouling potential as shown by specific membrane fouling rate and specific resistance to filtration (SRF) increased as HRT increased. The longer HRT conditions or lower influent loading led to higher levels of bound EPS while HRT did not show large effects on the level of soluble microbial products (SMP). The restriction fragment length polymorphism (RFLP) analysis showed similar microbial banding patterns from the sludges generated under different HRT conditions, indicating that HRT had minimal effects on the composition of microbial communities in the system. All these results suggest that the MBR with pre-denitrification is a feasible option for treating high-strength food wastewater and that different HRT conditions could affect the operational performance and the fouling rate, which is governed via changes in microbial responses through EPS in the system