CONTEMPORARY WORLD
ASIAN REGIONALIZATION
Regionalism
a political ideology that prioritizes the
home region, often giving it more
importance than the national whole
Regionalization vs. Globalization
A process of A process by which
dividing an area the people of the
into smaller world are unified
segments called into a single society
regions and function together
Regionalism
Is the theory or practice of regional rather than central systems
of administration of economic cultural or political affiliation
Regionalization
The division of nation into state provinces
Asian Regionalism
A product of economic interaction, not
political planning
Asian regionalism
a result of successful, outward oriented growth
strategies, Asian economies have grown not only
richer, but also closer together.
In recent years, new technological trends have
further strengthened ties among them, as have
the rise of the PRC and India and the region’s
growing weight in the global economy.
Asian regionalism
The 1997/98 financial crisis dealt a severe setback
to much of the region, highlighting Asia’s shared
interests and common vulnerabilities and providing
an impetus for regional cooperation.
In the early stages of Asia’s economic takeoff,
regional integration proceeded slowly.
Asian regionalism
East Asian economies, in particular, focused on exporting
to developed country markets rather than selling to each
other.
The Japanese economist Akamatsu (1962) famously
compared this pattern of development to flying geese. In
this model, economies moved in formation not because
they were directly linked to each other, but because they
followed similar paths.
Asian regionalism
Now, Asian economies are becoming closely interwined
Interdependence is deepening because Asia’s economies
have grown large and prosperous enough to become
important to each other, and because their patterns of
production increasingly depend 27 on networks that span
several Asian economies and involve wide ranging
exchanges of parts and components among them
Asian regionalism
Asia is at the center of the development of such
production networks because it has efficient transport
and communication links, as well as policies geared to
supporting trade. As these new production patterns tie
Asian economies closer together, they also boost the
international competitiveness of the region’s firms.
Asian regionalism
According to Edward D. Mansfield and Helen
V. Milner, state that economic and political
definitions of regions vary, but there are
certain basic features that everyone can
agree on.
Asian regionalism
First, regions are “a group of countries located
in the same geographically specified area” or
are “an amalgamation of two regions (or) a
combination of more than two
regions”organized to regulate and “oversee
flows and policy choices".
Asian regionalism
Second, the word regionalization and
regionalism should not be interchanged, as the
former refers to the “regional contraction of
economic flows” while the latter is “a political
process characterized by economic policy
cooperation and coordination among countries".
Asian regionalism
Countries respond economically and politically to
globalization in various ways. Some are large enough and
have a lot of resources to dictate how they participate in
processes of global integration.
Singapore and Switzerland compensate for their lack of
resources by turning themselves into financial and
banking hubs.
Asian regionalism
North Atlantic Treaty Organization (NATO) formed during
the Cold War when several Western European countries
plus the United States agreed to protect Europe against
the threat of the Soviet Union.
Warsaw Pact, consisting of the Eastern European
countries under Soviet denomination.
Asian regionalism
Organization of Petroleum Exporting Countries (OPEC)
was established in 1960 by Iran, Iraq, Kuwait, Saudi Arabia
and Venezuela to regulate the production and sale of oil.
This regional alliance flexed its muscles in the 1970s
when its member countries took over domestic
production and dictated crude oil prices in the world
market.
Asian regionalism
The Non-aligned Movement (NAM) was created in 1961 by
Egypt, Ghana, India, Indonesia, and Yugoslavia to promote
world peace, international cooperation, human rights, national
sovereignty, racial and national equality, non-intervention, and
peaceful conflict resolution. At its peak, the NAM had 120
member countries but was never formalized. The economic
crisis in 1996 led to the collapse of the Thai economy, which
spread to other Asian countries.
Asian regionalism
The International Monetary Fund (IMF) attempted to reverse
the crisis, but ASEAN countries, along with China, Japan, and
South Korea, agreed to establish an emergency fund to
stabilize Asian economies. The crisis made ASEAN more
"unified and coordinate," and the organization has since
evolved from a pro-American coalition to a military alliance
and economic cooperation.
Thank you
Barili, Bancure, Bermoy, Braga