The political economy of east Asian economic integration
2004; Elsevier BV; Volume: 15; Issue: 5 Linguagem: Inglês
10.1016/j.asieco.2004.09.002
ISSN1873-7927
Autores Tópico(s)Asian Industrial and Economic Development
ResumoThe paper provides a political economy analysis focusing on the uneven bargaining power between the Asian nations and the hegemons under Pax Britannica and Pax Americana. It explains how the Washington pressure on Asian nations to adopt the American model had the unintended consequences of pushing these nations to form their own Free Trade Areas. It deals with the quality of American economic "advice" to Asian nations, before and after the 1985 Plaza Accord. The paper treats the post-1997 steps towards closer economic integration as part of a continuum aimed at increasing the Asian nations bargaining power in the global economy. The analysis recognizes the obsolescence of the post-1945 global financial order, being incompatible with Asia, currently the largest net lender in the world. The paper details the hurdles facing Asian nations in their attempt to weave closer cooperative arrangements and juxtaposed them with their counterparts in existing trading blocks.
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