Asian Regionalism Flashcards
- The formal process of intergovernmental collaboration between two or more states.
- It is also the expression of a common sense of identity and purpose combined with the creation and implementation of institutions that express a particular identity and shape collective action within a geographical region.
Regionalism
- From previous studies, this refers to the increasing global relationships of culture, people and economic activity. - Most often as the global distribution of the production of goods and services, through the reduction of barriers to international trade such as tariffs, export fees and import quotas.
Globalization
- A term used to explain, justify and anticipate the rapid expansion and intensification of social relations across world time and space (Steger, 2013)
Globalization
Asia Pacific & South Asia:
Northeast Asia, SEA, Pacific Islands, South Asia
Diversity: most progressive:
South K, Japan, Singapore;
Most poor:
Cambodia, Laos, Nepal;
Most populated:
China and India
– committing more resources and attention to the region
Pacific Pivot
movements for nationalism and independence emerged
19th& 20thcentury:
– Influenced by external forces
– Case of Japan and US
World War II
– Japan, Korea and Taiwan (1980s and 1990s)
– Malaysia, Singapore and Vietnam (late 1980s and 1990s)
– SEA tigers: reliance on infusion of foreign capital
Adoption of export oriented growth
– The cornerstone of economic liberalization and globalization in post war global economy
– Case of Indonesia: Suharto regime and its story
– Case of Thailand: export oriented growth
– Case of Philippines: cozy relationship with F. Marcos
IMF and WB (Bretton Wood System)
– Root cause: Poor policies, weak government, corruption, poor institutions; inadequate liberalization
– Globalization played a role in the 1997 crisis
– Showed how deeply integrated the economy was in the global financial system
Asian Financial Crisis
– Rise of China: Deng Xiaoping 1970s: economic reform
– liberalization of the economy:
Experienced high level of growth and became more integrated into the global economy
– Rise of India: Liberalized their economy in 1991; increased trades and FDI in textile and service sector
Liberalization of Economy
- will play an increasingly important role in the shift in the balance of global demand and change over the next few decades.
- Its rise may present many challenges, but it will also open up new and unprecedented opportunities for the region and for the world.
the Asian middle class