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This timely book reviews how South Asia is rising to the challenge of globalization. In particular, how are South Asian countries maximizing the benefits of globalization whilst minimizing its costs? What lessons have these countries learned from the East Asian financial crisis? What actions have they taken at the national, regional, and global level? Some important topics covered in this book include policy reforms and economic integration in South Asia, comparisons between South Asia (mainly India) and China, and economic linkages between South Asia and East Asia including the possibility of an integrated Pan-Asia similar to the European Union. Academics, researchers, students, policymakers and observers of South Asian, and more broadly Asian, economic development and integration will want to read this book.
'This book provides a coherent and current account of how India, Indonesia, Malaysia, Thailand, the Philippines and the People's Republic of China coped with the Asian financial crisis of the 1990s and the recent global economic recession, and how they may address future challenges in maintaining growth in difficult times. It features a valuable overview of issues from a regional perspective, five chapters on general elements and obstacles in development, and individual chapters on the experience of each of the six countries. Every chapter is replete with relevant institutional and statistical data. The volume fills a void in the literature and is highly recommended for graduate students and for economists concerned with contemporary Asia.' – Peter Drake, The University of New England and Australian Catholic University, Australia 'To understand what makes Asia tick in the face of continuing global uncertainty and instability one has to go beyond numbers into the region's psyche and idiosyncrasies. This volume provides an interestingly intrusive and refreshingly insightful analysis of a highly complex phenomenon that defies generalizations as shown by the diversity of individual country experiences.' – Mohamed Ariff, International Centre for Education in Islamic Finance (INCEIF), Malaysia The center of global economic activity is shifting rapidly towards Asia, driven by a combination of the economic dynamism of the People's Republic of China, India, and other middle-income Asian countries, and sluggish growth in the OECD economies. The rapid growth and rising global prominence have raised a range of major challenges for Asia and for the rest of the world. This comprehensive, forward-looking book examines these issues through in-depth studies of major Asian economies and an analysis of the key development policy options. The contributors, leading international authorities in their field, explore cross-cutting thematic issues with special reference to developing Asia. They address a broad range of subjects including: investment and productivity, savings and the savings–investment relationship, financial development, the provision of infrastructure, and governance and institutions. Detailed country studies focusing on the People's Republic of China, India, Indonesia, Malaysia, the Philippines, and Thailand not only provide an analytical narrative for each case study, but also draw attention to the similarities and diversity within the region. This challenging and thought-provoking book will prove an important point of reference for scholars, researchers, and students in the fields of economics, development economics, and Asian studies.
Focuses on the globalization-democratization nexus and shows how governance is being restructured and democracy sometimes deepened in this new global era.
The Middle East and North Africa (MENA) is an economically diverse region. Despite undertaking economic reforms in many countries, and having considerable success in avoiding crises and achieving macroeconomic stability, the region’s economic performance in the past 30 years has been below potential. This paper takes stock of the region’s relatively weak performance, explores the reasons for this out come, and proposes an agenda for urgent reforms.
"The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.
This timely book reviews how South Asia is rising to the challenge of globalization. In particular, how are South Asian countries maximizing the benefits of globalization whilst minimizing its costs? What lessons have these countries learned from the East Asian financial crisis? What actions have they taken at the national, regional, and global level? Some important topics covered in this book include policy reforms and economic integration in South Asia, comparisons between South Asia (mainly India) and China, and economic linkages between South Asia and East Asia including the possibility of an integrated Pan-Asia similar to the European Union. Academics, researchers, students, policymakers and observers of South Asian, and more broadly Asian, economic development and integration will want to read this book.
In the past two decades, several millions of IT-enabled services jobs have been relocated or ‘offshored’ from the US and Europe to, in particular, low cost economies around the world. Most of these jobs so far have landed in South and South-East Asia, with India and the Philippines receiving the bulk of them. This has caused profound changes in the international division of labour, and has had correspondingly wide social and economic effects. This book examines how this ‘next wave in globalization’ affects people and places in South and South-East Asia. It brings together twelve case studies from India, the Philippines, China, Hong Kong and Thailand, and explores how and for whom services offshoring creates opportunities, triggers local economic transformations and produces challenges. This book in addition compares how different countries take part in this ‘second global shift’, investigates service-sector driven economic development from a historical perspective, and engages with the question whether and to what extent services offer a new promising avenue of sustained economic growth for developing countries. It argues that service-led development in developing countries is not easy for all the workers involved, or a guaranteed path to sustained economic development and prosperity. This volume stands out from other books in the field in its exploration of the social and economic outcomes in the cities and countries where services have been located. Based on cutting edge empirical research and original data, the volume offers a state-of-the-art contribution to this growing debate. The book provides valuable insights for students, scholars and professionals interested in services offshoring, socio-economic development and contemporary transformations in South and South-East Asia.
Jumpstarting South Asia focuses on the slowing pace of economic growth and makes the case for a two-pronged strategy to jumpstart South Asian economies. South Asian countries should complete the economic reform process that they had begun in the 1980s and the early 1990s and implement the more microeconomic reforms, namely, the sectoral, and governance and institutional reforms to enhance competition and improve the operation of markets. They should also implement the second round of ‘Look East’ policies or LEP2 to link themselves to production networks in East Asia, their fastest-growing market, and develop production networks in manufacturing and services within their region. This book argues that the proposed strategy will lead to a win-win situation for all countries in South Asia and East Asia, and also reinvigorate economic integration within South Asia. The book identifies the remaining policy agenda for each South Asian country.
A recent study by the Asian Development Bank notes that by 2050, Asia's per capita income would rise six-fold to reach Europe's levels today, one of many indications of Asia's “re-emergence”. By then, Asia's share of global GDP would have doubled and it would have regained the dominant economic position it once held some 300 years ago before the industrial revolution.What is less well-known is that during the previous eras of globalization, Asia was also regionally integrated and globally connected. During the 19th and the first half of the 20th centuries, Asia was divided and fragmented.This unique book argues that, led by the economic dynamism and “re-encountering” between China and India, we are witnessing the “Renaissance of Asia”. As in the bygone eras, Asia is integrating within itself and the global economy is intensifying, now driven by market-oriented production networks and economic policies. Asia is starting to be “re-centered” as trade and investment relations between South Asia and East Asia surge. Asia's rise is a restoration of the past, not a revolution. This book is a must-read for anyone interested in the economic development of Asia.
Asia is a complex and diverse continent, which has seen the scope and pace of transformation increase rapidly over the past 30 years. In turn, the economic growth and social change seen in the region, combined with new global security profiles and environmental challenges, have contributed to placing Asia at the forefront of international affairs. This Handbook brings together leading scholars of different disciplines, including Politics and International Relations, Security Studies and Law, to provide a comprehensive analysis of both the prospects and problems which have emerged from Asia’s rise. Examining how developments across the continent have influenced global politics and how the region has responded to the international community in the modern era, the sections cover: Major actors in Asian politics, especially China, Japan and India, International relations in Asia and intra-Asian tensions Special issues of world politics in Asia including modern conflicts in and attitudes towards the Middle East The Routledge Handbook of Asia in World Politics will be useful to students and scholars of Global Politics, International Relations and Asian Studies.