Advertisement

The Business Costs of Terrorism and Its Impact on Doing Business in Asia

  • Nara Srinivasan

Abstract

The reactions of the US and allied nations to the terrorist attacks of 11 September 2001 have impacted business in Asia through increased costs and compliance. The common costs that have been highlighted are the costs of increased insurance, freight and security costs (Raby, 2003). However, costs that are often hidden and unquantified by businessmen and women in the region include those relating to the transfer of money, compliance with new laws that are being introduced by the US, such as the Homeland Security Act 20011 and the USA PATRIOT Act 2001,2 and the growing immigration hassles3 caused by new and perceived threats to the US and allied nations.

Keywords

Terrorist Attack International Maritime Organization Infrastructure Project Maritime Security Major Trading Partner 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  1. Address to Joint Session of Congress and the American People, 21 November 2001, online at http://www.whitehouse.gov/news/releases/2001/09/20010920–8.htm. (accessed 25 March 2004).
  2. Bonner, R. (2003) Address to the Senate Commerce, Science and Transportation Committee, 9 September (available at: http://japan.usembassy.gov/e/p/tp-20030917a3. html. accessed 20 March 2004).
  3. Crofty, M. (1998) The Foundations of Social Research: Meaning and Perspective in Research Process, Australia: Allen & Unwin.Google Scholar
  4. Euroweek (2002) Bali Blast Fractures Southeast Asia Economic Hopes, London, Euromoney Institutional Investor PLC, 18 October.Google Scholar
  5. Gardner, C. (2003) ‘Diamond Report’, Rapaport Diamond Report, 26 (13), online at www.jvclegal.org
  6. Gunaratna, R. (2002) Inside Al Qaeda: Global Network of Terror, New York: Columbia University Press.Google Scholar
  7. Gunaratna, R. (2003) Terrorism in the Asia Pacific: Threat and Response, Singapore: Times Media Private Limited.Google Scholar
  8. Gupta, S., Clements, B., Bhattacharya, R. and Chakravarti, S. (2004) ‘Fiscal Consequences of Armed Conflict and Terrorism in Low- and Middle-Income countries’, Washington, DC, IMF Working Paper, WP/04/142, International Monetary Fund, August.Google Scholar
  9. Hall, M. (2003) ‘Private Security Guards are Homeland’s Weak Link’, USA Today, 22 September, 11.Google Scholar
  10. Hennock, M. (2004) ‘Counting the Rising Cost of Fear’, BBC Business News, 16 April, transcript available at http://news.bbc.co.uk/go/pr/fr/2/hl/business/3627011.stm
  11. International Maritime Organization (2004) IMO Adopts Comprehensive Maritime Security Measures, online at: www.imo.org (accessed 7 February 2004).Google Scholar
  12. Jinks, B. (2004) ‘Tightening Security, Singapore’, The Business Times, 24 March.Google Scholar
  13. Lenain, P., Bonturi, M. and Koen, V. (2002) The Economic Consequences of Terrorism, Economics Department Working papers no. 334, Paris, Organization for Economic Cooperation and Development, 17 July.CrossRefGoogle Scholar
  14. Mitchell, L. (2003) The Implications of the USA PATRIOT ACT on Foreign Banking Institutions, paper presented at the National Anti Money Laundering Training Seminar, Kingstown, St Vincent, 24 May.Google Scholar
  15. Murray, T. (2003) ‘Increasing Security, At a Price’, International Herald Tribune, 22 March.Google Scholar
  16. Raby, G. (2003) The Costs of Terrorism and Benefits of Cooperating to Combat Terrorism, Australia: Department of Foreign Affairs and Trade, online at: www. dfat.org Google Scholar
  17. Raja, M. (2004) ‘Terrorist Threat Stirs Asian Shipping’, Asia Times Online, 14 Jan, online at: www.atimes.com (accessed May 2004).
  18. Rand (2003) “Seacurity”: Improving the Security of the Global Sea Container Shipping System, Rand Office of External Communications, online at: www.rand.org/hot/pressGoogle Scholar
  19. Reddy, R. (2002) ‘Friction Over Security Gaps’, Intelligence Enterprise, 8 October, online at: www.intelligenceenterprise.com/0210081516/infosc1–1shtml
  20. Rundell, J. (1991) Social Theory: A Guide to central Thinkers, Australia: Allen & Unwin.Google Scholar
  21. Santangelo Group Inc USA (2004) Do Visa Delays Hurt US Business?, June, online at: www.santangeloGroup.com
  22. Saywell, T. (2002) ‘Shipping News’, Far Eastern Economic Review, 17 October.Google Scholar
  23. Second Report of the Monitoring Group Established Pursuant to Security Council Resolution 1363 (2001); and extended by resolution 1390 (2002), United Nations, Sept. 30, 2002, online at: www.un.org/s3245/e/et/html (accessed 18 February 2004).
  24. Senate Republicans Warn That Patriot Act Will Not be Renewed Unless Changes are Made, San Francisco Chronicle, 14 October 2003.Google Scholar
  25. Taylor, F. (2002) Impact of Global Terrorism, remarks to Executives Club of Chicago, March, online at: www.state.gov/s/ct/rls/rm/8839.htm (accessed 4 April 2004.).Google Scholar
  26. The Economist (2002) ‘Counting the Cost’, The Economist, 16 October, online at www.Economics.com
  27. The USA PATRIOT Act: A Legal Analysis, CRS Report for Congress RL31377, 15 April 2002.Google Scholar
  28. US Department of Commerce (2003) Services Exports and the US Economy, Office of Service Industries, March, online at: www.ita.doc.gov Google Scholar
  29. US State Department (2003) Patterns of Global Terrorism 2002, April, online at: http://www.state.gov/s/ct/rls/pgtrpt/2004 (accessed 8 February 2004).Google Scholar
  30. US State Department (2004) Patterns of Global Terrorism 2003, April, online at: http://www.state.gov/s/ct/rls/pgtrpt/ (accessed 8 February 2004).Google Scholar
  31. Vatikiotis, M. (2002) ‘A Tale of two Madrasas’, Far Eastern Economic Review, 27 June, 60.Google Scholar
  32. Warke, G. (1987) Gadamer: Hermeneutics, Tradition and Reason, Cambridge: Polity Press.Google Scholar
  33. Winer, J. M. & Roule, T. J. (2003) ‘Fighting Terrorist Finance’, Survival, 44 (3), 87–104.CrossRefGoogle Scholar
  34. Zachary, A. (2003) Tentacles of Terror: Al Qaeda’s Southeast Asian Network, in APCSS Biennial Conference proceedings Enhancing Regional Security Cooperation, Honolulu, Hawaii, 16–18 February, 1–7.Google Scholar
  35. Zemky, R. (1998) In Search of self Directed Learners, Training (May): 60–8.Google Scholar
  36. Zhang, G. (2003) US Security Policy toward South Asia After September 11th and Its Implications for China: A Chinese Perspective, The Henry L. Stimson Center, USA January, online at: www.stimson.org Google Scholar

Copyright information

© Nara Srinivasan 2005

Authors and Affiliations

  • Nara Srinivasan

There are no affiliations available

Personalised recommendations