Power In Asia Research Articles

Pricing Asian options under the mixed fractional Brownian motion with jumps

The mixed fractional Brownian motion (mfBm) has gained popularity in finance because it can effectively model long-range dependence, self-similarity, and is arbitrage-free. This paper focuses on mfBm with jumps modeled by the Poisson process and derives an analytical formula for valuing geometric Asian options. Additionally, approximate closed-form solutions for pricing arithmetic Asian options and arithmetic Asian power options are obtained. Numerical examples are provided to demonstrate the accuracy of these formulas, which rely on a convenient approximation of the option strike price. The proposed approximation demonstrates significantly higher computational efficiency compared to Monte Carlo simulation.

Geometric Asian power option pricing with transaction cost under the geometric fractional Brownian motion with [formula omitted] sources of risk in fuzzy environment

In this paper, we obtain an explicit formula to calculate the geometric Asian power option price with floating strike price and transaction cost under the fractional geometric Brownian motion model with w sources of risk and fuzzy parameters. First, by considering the Leland and Kabanov theorems, we derive a non-linear PDE with the transaction cost formula to obtain the option price. Then, using the Green function find a closed form solution for the PDE and achieve the price of the option under different amounts of the model and option parameters. Next, we consider the model’s parameters as fuzzy numbers and acquire a general formula to obtain intervals for the option price under different belief degrees and power option parameter amounts.

An efficient algorithm to solve the geometric Asian power option price PDE under the stochastic volatility model

An efficient algorithm to solve the geometric Asian power option price PDE under the stochastic volatility model

The consensus of material and discursive geopolitical codes to contain China in the Indo-Pacific

ABSTRACT China’s rise as a non-liberal Asian power, with its peaceful representation and rapid development in the twenty-first century, has raised concerns among liberal powers, including the United States and its Asian democratic allies. Thus, US-led democracies in the Indian and Pacific Oceans seek to thwart the rise of China as a world power and the idea of change in the global geopolitical order by adopting a policy of containment against China in the new century. With this in mind, the purpose of this article is to examine the relationship between the geopolitical codes of the United States and its allies to contain China at the discursive and material levels in the Indo-Pacific region. The empirical review of the paper shows a trend in which the United States is using correlated local, regional, and global codes to extend global geopolitical order to its advantage by containing China in the Indo-Pacific arena.

Integrating Renewable Energy and Smart Grid Technology into the South Asian Electricity Grid System

The electricity situation in South Asian can be described as epileptic with no sign in view of improvement. This epileptic power situation affects the manufacturing, service and residential sectors of the economy which in turn affects the country’s economic growth. Even with the recent reforms in the power sector, more than half of the country’s population still lack access to electricity. The epileptic condition of the power sector can be attributed to the inadequate and inefficient power plants, poor transmission and distribution facilities, and outdated metering system used by electricity consumers. This paper attempts to present the way forward for the South Asian poor electricity situation by reviewing the power sector as a whole and the renewable energy potentials. We identified the problems in the national grid and then proposed a smart grid model for the South Asian power sector which will include renewable energy source. We believe that the content of this re-view paper will solve the poor epileptic condition of the power sector in South Asian and also enable the proper integration of smart grid technology into the national grid.

The Belt-Road Initiative and prospects, Iraq as a model -Strategic Vision

The Chinese Belt and Road initiative is a revival of the idea of ​​the ancient Silk Road, which dates back to the second century BC, and was a network of roads traveled by caravans to transport commercial goods between China, Central Asia, Persia, the Arabs, and Europe, and silk was one of the most important goods that China exported. China believes that this road serves most of humanity and is based on the development of a large number of regions. It is not limited to 68 countries through which roads and sea lines pass, but rather it will revive global trade and raise growth rates.
 The importance of Iraq and the Arab region, in general, emerged in the Chinese strategic perception as a source of energy. Historical studies indicate that China's relationship with the Arab region dates back to 2000 BC. The location of the Arab region in an important global strategic region near Asia and North Africa and its enjoyment of a long history, honorable civilization, and abundant natural resources, created exchanges between both the Arab-Chinese sides in various fields through what was called (the Silk Road and the Perfume Road by land and sea ). China has sought to regard Iraq as a starting point for it in the Arab world and in the Asian continent, which can serve its strategic objectives in the African continent as well and express its prestige as a great Asian power. And since Iraq is a producer and exporter of oil, therefore China views it as a country of strategic importance, and Iraq can establish a foreign policy with diverse relations and reduce the status or level of its relations with Washington and focus on increasing its cooperation with China, which does not show more interest in political affairs than in economic affairs. In addition, Iraq's relationship with China does not harm the United States of America.
 China seeks to gain Iraq as a strategic ally in the region on the one hand and to preserve the source of oil supplies and investment projects on the other hand. The Chinese project ((The Belt and Road)) provides Iraq with a strategic opportunity to achieve its national interests in terms of economic and trade (transit through Iraq) towards the continent of Europe and the Levant region and vice versa, as Iraq needs to diversify the sources of national income and thus strengthen the Iraqi economy in addition to selling imports oil. Therefore, Iraq is supposed to adopt a strategic approach based on seizing the opportunities available in the international strategic environment and employing the Chinese interest in it to benefit from the initiative. Especially since China has become a center of attraction in the environment of international alliances and alliances. security, including Iraq.

Low-carbon transition of Southeast Asian power systems – A SWOT analysis

Coal power is regarded as the most important pillar to realize the fast-growing power demand in Southeast Asia. While Southeast Asia is at the crossroads of the power systems transition, the low-carbon power infrastructure development has become a common concern. This study conducts a strengths, weaknesses, opportunities, and threats (SWOT) analysis to examine the factors that influence the Southeast Asian power systems' low-carbon transition. Results show that this transition faces many constraints, including the lack of ambitious renewable energy goals, abundant fossil fuels, underdeveloped grid infrastructure, an uncompetitive power regime, high fossil fuel subsidies, insufficient financial support, and low environmental standards for the power sector. Nevertheless, opportunities exist in excellent renewable energy endowments, declining renewable energy generation costs, local governments’ consideration for energy security and technical and financial support from the international community. To promote the low-carbon transition of power systems, it is necessary to integrate renewable energy as a vital component of the post-pandemic economic recovery policy. Coal power should be phased out systematically through clean utilization, flexible renovation, and subsidy reduction. Efforts should be made to advance institutional reform, improve investment and financing mechanisms, upgrade environmental standards, facilitate regional grid connectivity, and deepen international cooperation.

40MW급 디젤 발전 장비의 실용적인 축계정렬 연구

Diesel power plants come in a variety of shapes, from moveable mini-power plants installed in 40-feet standard container boxes to large capacity power plants. The world's largest diesel power plant listed in the Guinness Book of World Records is Jordan's Amman Asian power plant, which produces a total of 573 MW of electric power. It consists of 38 units of 15MW capacity, and KEPCO achieved high profitability through the power plant. If a large capacity of 40MW clsss is applied, it will be newly listed in the Guinness Book of World Records even if only 15 units are constructed. Therefore, large-scale overseas orders for diesel power plants that require large capacity are expected in the future. The purpose of this study is to derive a practical offset by performing the shaft alignment analysis for large capacity 40MW shaft system, and to infer the change of offset for larger capacity shaft system through the comparison with the 30MW shaft alignment which is the result of the previous research. As a result, the practical offset of shaft system for the 40MW diesel power generation equipment was derived through the bearing influence assessment. From the comparison of shaft alignment between 30MW and 40MW, it is considered to be a complex offset to calculate the height of the engine bearing from 50MW class.

Covid19 and China’s International Higher Education Policies

Abstract In 2010, China announced its aspiration to build the Study in China initiative into a global education brand. A decade of active and strategic policymaking ensued and spurred the growth of international higher education in the rising Asian power. Its overarching objective of becoming the largest study-abroad destination in Asia by 2020 was fulfilled ahead of schedule in 2017. However, as the covid19 pandemic disrupted international mobilities and stunted international education in many countries, the Study in China initiative has also encountered unprecedented challenges. This study analyses the Chinese policies on international higher education between 2020 and mid-2022, and international students’ online queries and responses to these policies. This paper concludes with implications of international students’ experiences since-covid for China’s international education sector.

Bargain and Barter: China's Oil Trade with Iran

AbstractThe US withdrawal from the nuclear deal and its ratcheting up of sanctions aimed to cut Iran's oil revenues virtually to zero by reducing trade between Tehran and its top foreign customers, especially China. This article examines the dynamics of the Sino‐Iranian oil business and finds that the Chinese have never terminated their imports; instead, when Beijing cannot deal with Tehran directly, it continues the flow through subterranean methods. This practice holds some benefits for both sides, but the Iranian economy has become highly dependent on bartering with the East Asian power: exporting crude and receiving part of the revenues in Chinese goods and services. The two countries have vowed to keep up the oil trade, as sanctions have led Iran toward a growing economic and technological orientation toward the East.

The Monozukuri Philosophy Education and Asian Power

The Monozukuri Philosophy Education and Asian Power

Expansion of Maritime Interests and Naval Modernization of India in the Indo Pacific Region

As importance of the Indo Pacific region grows in the 21st Century, India is expanding its maritime interests and modernizing its naval capabilities in Indo-Pacific Region. India is doing so due to two main factors. First, to counter China’s rise. China is rising as a strong Asian power by increasing its power, influence, and sway in the Indian Ocean region. Second, India aspires for becoming a regional hegemon in the Indian Ocean region while expanding its strong influence in the Pacific Ocean. This research paper will explore India’s maritime expansion and strong partnership with the Indo Pacific nations which will strengthen Indian footprints in the Indo Pacific Region that challenges the Chinese security concerns in this region. Further, this research paper will explore the evolution of Indian Strategic thinking in the Indo-Pacific Region, identifies rising China and Indo-Sino maritime rivalry as well as examine the countering strategies by India that lead to its maritime expansion and Indian Naval modernization in the Indo-Pacific Region.

Pluralities of Power in Indonesia’s Intellectual Property Law, Regional Arts and Religious Freedom Debates

ABSTRACT This article re-analyses historical Southeast Asian power concepts and practices to interpret contrasting positions on two contemporary Indonesian legal debates. The first debate concerns the use of intellectual property models to regulate regional arts or ‘traditional cultural expressions’. The second debate concerns a 2017 constitutional court ruling that advocates citizenship parity for ‘belief practitioners’, meaning those who maintain ancestral or non-orthodox practices and do not list one of Indonesia’s six official religions on their identity cards. I argue that contrasting positions on the laws held by state and clerical authorities versus regional practitioners are better explained by reference to distinctively Southeast Asian ideas about unilateral versus decentralised ‘power’ than by standard globalisation, human rights, or modern state versus indigenous resistance explanations. Disentangling two features of Benedict Anderson’s classic model of Javanese power, fluid cosmic force and the concentration of ‘oneness’ by rulers, illuminates how the Indonesian minority and majoritarian legal perspectives fit within a common repertoire of regional power concepts. Framing religion, tradition, arts and law as prescriptive and normative rather than analytic categories, the article draws on historical and comparative Southeast Asian evidence to delineate tensions among differently positioned groups grounded in diverse modalities of power, ancestral authority and customary institutions, even as some now selectively adopt imported legal rights-based and heritage preservation discourses.

Low-Carbon Transition of Southeast Asian Power Systems - a Swot Analysis

Low-Carbon Transition of Southeast Asian Power Systems - a Swot Analysis

Geomagnetically Induced Current Analysis in Malaysian Power Transmission System

For many decades, Geomagnetically Induced Current (GIC) has posed a significant risk over the electrical power grid infrastructures worldwide. The phenomenon occurs due to geomagnetic disturbance (GMD) and related space weather events arising from solar activity. It represents a potential hazard to the secure and safe operation of electrical power grids by causing half-cycle saturation of grounded High Voltage (HV) power transformers, relay misoperation, and increased reactive power demand in the power systems. Previous studies have shown that the occurrence of intense GIC is not limited to high and mid-latitude regions, but powerful space weather events can also result in intense GIC in power systems located in lower geographic latitudes. This study aims to estimate GIC and its impacts on a Malaysian power grid. A network model of the grid was constructed by using the Power System Simulator for Engineering (PSS/E). This represents the first attempt to study GICs in south-eastern Asian power grids since a region is considered to have low GIC risk up to now. During the analysis, firstly, we exposed the entire power network which includes 500 kV, 275 kV, and 132 kV system voltages to different geoelectric field strengths in the 0–180° directions. The applied geoelectric fields were calculated based on benchmark value for 1 in 100 years of GMD events. Then we disconnected the 132 kV low voltage systems from the network model to investigate their influence on the calculated GICs. The results demonstrated that the most vulnerable substations to GMD events and experienced large GICs were those located in the middle of the Malaysian power network. The maximum GIC was recorded at substation 22 with the value of 44.58 A due to the peak electric field of 1.2 V/km at 100° field direction. Also, the results showed that the calculated GICs slightly increased when 132 kV systems were removed from the power network, especially at the substations directly connected to these systems.

Nikkei Diaspora Diplomacy in Latin America: Japan's Reaction to the Asian Power in the Region in the 2010s

Nikkei Diaspora Diplomacy in Latin America: Japan's Reaction to the Asian Power in the Region in the 2010s

The Expanding Coal Power Fleet in Southeast Asia: Implications for Future CO2 Emissions and Electricity Generation

AbstractCoal combustion for power generation made up 30% of global CO2 emissions in 2018. To achieve the goal of the Paris Agreement to keep global average temperatures below 2°C, power generation must be decarbonized globally by mid‐century. This requires a rapid phase‐out of coal‐fired power generation. However, global coal power expansion continues, mostly in developing countries where electricity demand continues to increase. Since the early 2010s, Southeast Asia's coal power capacity expansion has been among the fastest in the world, following China and India, but its implications for the global climate and regional energy transition remain understudied. Here we examine Southeast Asia's power generation pipeline as of mid‐2020 and evaluate its implications for the region's CO2 emissions over the plant lifetime as well as projected electricity generation between 2020‐2030 in Indonesia, Vietnam, and the Philippines. We find that power plants under construction and planned in Southeast Asia as of 2020 will more than double the region's fossil fuel power generation capacity. If all fossil fuel plants under development are built, Southeast Asia's power sector CO2 emissions will increase by 72% from 2020 to 2030 and long‐term committed emissions will double. Moreover, in Indonesia, Vietnam, and the Philippines, projected electricity generation from fossil fuel plants under development, combined with generation from renewable capacity targets and existing power capacity, will exceed future national electricity demand. As a result, fossil fuel plants will likely be underutilized and/or become stranded assets while also potentially crowding out renewable energy deployment.

Cooperative electric energy transmission between Central Asia and Pakistan

Through the long-distance transmission of electric energy, global interconnected power grids have become promising for the decarbonization of the power systems nowadays. However, the implementation of an extremely large-scale system may be controversial because practical examples are rare. In this paper, the interconnected power system among Central Asia; Xinjiang, China; and Pakistan is used as a testbed to analyze the feasibility of the multinational interconnections. Based on the increased electricity generation in Central Asia and the increased power shortage in Pakistan, the complementation between generation and consumption in the two areas can be established. Then, the use of the classic Central Asian power grid (CAPG) in the former Soviet Union is analyzed. Following the extension of the local grids in Central Asia; the upgrade of the Xinjiang power grid; and the construction of the CASA-1000 HVDC project, a new CAPG (NCAPG) that connects the Central Asian countries; Xinjiang, China and Pakistan, with four HVDC lines is formed. The NCAPG is entirely different from the classic CAPG because it is fully based on the voluntary participation, operational independence, and the operation security of the member grids. The NCAPG shows potential in the multinational electric energy transmission among Central Asia; Xinjiang, China; and Pakistan in the foreseeable future.

Idiosyncrasy in Foreign Policy Decision Making Situational: Analysis of Trump and Biden Approaches towards South Asia

This paper explores the leadership phenomenon in making foreign policy and in the decision-making process that how does it affect other states. By using leadership theories and idiosyncratic factors which include perceptions of leaders, historical experiences, and ideological orientations all affect the US foreign policy along with it the dynamic geopolitical environment also matters in this regard. The study further argues that how the high-risk situations involve the leader in eliminating obstacles, for example, post 9/11 terrorism climax, Modi recent moves in the region and Trump reaction towards them and as an Asian power what strategies he adopted vis-à-vis Pakistan. In such expected worrisome times this article furthermore highlights the comparative courage, and overview of their approaches that might help in understanding the authoritarian and paternal styles, traits of leadership as an individual.

Aamir Khan and celebrity humanitarianism in Asia: towards a cosmopolitical persona

ABSTRACT Scholarship of celebrity humanitarianism has been dominated by Western icons like Angelina Jolie, Madonna, and Bono, whose high-profile engagement has sought to alleviate various political, ecological, and humanitarian crises. In the past two decades, Asian stars have engaged in humanitarian issues as extensively as their North American or European counterparts. The intellectual effort devoted to this category of celebrity, nevertheless, remains scarce. To fill this gap, this article explores the crossover image of celebrated and powerful Bollywood celebrity-humanitarian, Aamir Khan. In what ways does Khan’s goodwill envision and contend cosmopolitan ideals? How does his commercialised presence in China complicate or explicate his embodied experience of advocacy? Finally, what does his commercial and benevolent engagement convey about Asian celebrity power in the global politics of star-making? This article adopts cosmopolitanism as the critical framework to examine Khan’s oscillation between cosmopolitan prospects and local attachments. It argues Khan’s Asian-yet-global persona exhibits a new mode of consciousness, which I describe as cosmopolitical, to thrive commercially and benevolently in multiple cultural and media networks. By so doing, this article not only attempts to disrupt Western-centric scholarship about celebrity humanitarianism but also expands the parameter of analysing Asian star power in bourgeoning networked cultures.