The paper talks about the recent tendencies in the process of economic integration in the Asian and Pacific regions. It is argued that economic reforms in the region measures including trade liberalization, contributed to greater involvement of the respective economies into the globalized world…
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The paper illustrates the increasing role of the countries of the Asian-Pacific region in the world economy in terms of GDP, trade volumes and capital flows. The impact of the globalization on Asian countries is under the consideration.
States in the region have become increasingly interdependent and regionalism is perceived as a stage for further multilateral trade liberalization. Regionalism is divided into two categories. One is discriminatory in that there is free trade among the members of the region but the non members are excluded. These include customs unions and the other are preferential trading areas. The other one is compatible to the most favored rule of the World Trade Organization and referred to as ‘open regionalism’ which allows free trade among all members and non members in the region. The gradual elimination of internal trade barriers leads to greater multilateral trade liberalization in a given region promoting globalization
The South Asian countries face political instability and ethnic conflicts which hinder trade liberalization and global integration. These countries are highly dependent on the world economy. A good example is China where FDI-driven models are essential to their growth models.
Taiwan, Japan, South Korea, Hong Kong and Singapore have a comparative advantage in high-value goods and services. China has an apparent advantage in labor intensive agricultural and manufacturing exports. India has a pool of cheap labor and it should be labor intensive, FDI driven exporter motivating the industrial sector as well as a major exporters of labor intensive agricultural products. Southeast Asia is the main beneficiary of the deep integration into the East-Asian manufacturing supply chains.
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(“Integration processes in the countries of the Asian-Pacific region Essay”, n.d.)
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(Integration Processes in the Countries of the Asian-Pacific Region Essay)
“Integration Processes in the Countries of the Asian-Pacific Region Essay”, n.d. https://studentshare.org/macro-microeconomics/1570680-integration-processes-in-the-countries-of-the-asian-pacific-region-under-the-conditions-of-the-globalization-intensification.
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These governments continue to perceive these civil society organisations as threats rather than a link to enhanced democratisation in the country. This has had detrimental impact on the autonomy of these organisations to express their views and denied them any influence over the state decisions.
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Australia has been a western country in the seething sea of inward-looking Orientals.
The main focus of this paper is to identify the recent trends in Economic Integration in the Asia Pacific Region, discuss their impact on Economic Development and discuss the future development of the region. With the use of research and study of the different articles, it is therefore realized that ASEAN, APEC, ADB and World Trade Organization has been making plans and ways to fight Asia's problem areas and through these organizations, the region has improved and became the worlds largest economic region.
The East and South-East Asian countries from the Asia-Pacific region have recently had a excellent record of surging economic and financial performance. These countries include Thailand, Malaysia, Indonesia and Philippines. The significant economic growth in this region outclassed the performance of any other region in the last decade.
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The author of the text highlights that the Asia-Pacific region needs a strong political-economic relationship with the US in the name of sustainable development and global justice. Besides, it is stressed that every US administration is thus faced with the challenge of a viable and beneficial Asia-Pacific policy.