World of Regions (Asian Regionalism) Flashcards
Recall
Promote sustainable economic growth and
prosperity in the Asia-Pacific region.
Asia-Pacific Economic Cooperation (APEC)
A continent known for its cultural diversity and economic dynamism, experiences various forms of regional cooperation and integration that influence its development trajectory.
Asia
Regional cooperation in economic, social,
cultural, technical, and scientific fields. Attempts
to address common challenges in the region and
foster regional stability.
South Asian Association for Regional
Cooperation (SAARC)
To ensure dynamic and mutual cooperation,
especially in the areas that are of common
interest to the member countries.
To create an environment for ensuring
expeditious economic growth in the South Asian
and Southeast Asian countries.
Bay of Bengal Initiative for Multi-
Sectoral Technical and Economic
Cooperation (BIMSTEC)
Economic integration, political cooperation,
social progress, and cultural development.
Association of Southeast Asian Nations
(ASEAN)
Enhancing cross-border connectivity between
the member nations, promoting trade and
economic growth.
South Asia Subregional Economic
Cooperation (SASEC)
Globalization facilitates increased trade flows and investment within Asia and between Asian countries and the rest of the world. Regional economic integration efforts such as the ASEAN Free Trade Area (AFTA) and bilateral trade agreements are accelerated by globalization, promoting cross-border economic activities.
Trade and Investment
Globalization profoundly influences Asian regionalism in several ways, shaping its economic, political, and socio-cultural dimensions. Here are the key impacts of globalization on Asian regionalism.
Impact of Globalization on Asian Regionalism
Globalization encourages collaboration and innovation in technology-intensive industries across Asian countries. Joint research initiatives, technology transfers, and investments in innovation hubs contribute to regional technological advancement.
Technological Innovation
Increased connectivity and cultural exchanges due to globalization enhance countries’ soft power. Asian countries use cultural diplomacy, tourism, and educational exchanges to strengthen regional ties and influence international relations
Soft Power and Diplomacy
Globalization facilitates cultural exchanges among Asian countries, promoting mutual understanding, tolerance, and appreciation of diversity. This cultural interaction fosters regional identity and cohesion.
Cultural Exchange
Globalization promotes digital connectivity across Asia, bridging urban-rural divides and improving access to information and communication technologies (ICTs). This connectivity supports economic growth, innovation, and entrepreneurship.
Digital Connectivity
Globalization contributes to the spread of technology, knowledge, and best practices in areas such as healthcare, education, and urban planning. This enhances social development and resilience within the region.
Social Development
Globalization encourages Asian countries to form and strengthen regional organizations such as ASEAN, SAARC, and BIMSTEC. These organizations promote political dialogue, conflict resolution, and cooperation on regional issues such as security, climate change, and disaster management.
Regional Organizations
Globalization has led to the development of complex supply chains across Asia, with countries specializing in different stages of production. This integration enhances economic efficiency and competitiveness within the region.
Supply Chains
