With increased resilience in the financial systems, emerging Asian economies were less affected by the recent global financial crisis, recovering more quickly from the crisis than major advanced economies. Yet, Asian financial systems remain underdeveloped. More open and efficient financial systems continue to be a key priority for Asia’s development strategy. Emerging Asian economies need to tackle the new challenges to macroeconomic and financial stability posed by financial globalisation. This book identifies the key challenges to Asia’s financial development in an era of rapid financial globalisation and discusses their policy implications for financial reforms and regional cooperation in East Asia. Particular areas of focus include: the impact of financial globalisation on economic stability and inequality in East Asian economies; the progress of Asia’s regional financial cooperation and lessons from the recent European economic crisis; and the priority of financial reforms in individual Asian economies. Combining advanced econometric methods and in-depth case studies, this book provides rigorous and contextual analyses of the most critical issues for Asia’s financial development. It offers a comprehensive and useful guide for students, academics, and policymakers interested in the current state and future prospects of Asian financial systems.

Regional cooperation and integration have emerged as key issues for East Asia following the financial crisis. This book explores these issues, and examines the degree to which a new paradigm is emerging. It reviews the evolution of the concepts and practices of regionalism in East Asia, and considers the factors which are shaping new patterns of regional co-operation and integration. It includes discussions of historical developments, economic co-operation, socio-political factors, and defence and security. It considers the role of those states, including China and Japan, which have distinctive approaches to international relations, and assesses the role of regional international bodies such as ASEAN.

"The purpose of this book is to empirically analyse the multifaceted nature of financial linkages in East Asia and to discuss the key policy challenges faced by the region's economies. Although the emphasis is placed on East Asia, some of the chapters cover a broader area of countries depending on the aim of the study. Particular areas of focus in these studies include: the evolution of cross-border financial linkages in East Asia; long-run economic consequences of remittance inflows and natural resource dependence; and policy priorities for the financial integration and management of resource-rich economies."--

The Routledge Handbook of Asian Regionalism is a definitive introduction to, and analysis of, the development of regionalism in Asia, including coverage of East Asia, Southeast Asia and South Asia. The contributors engage in a comprehensive exploration of what is arguably the most dynamic and important region in the world. Significantly, this volume addresses the multiple manifestations of regionalism in Asia and is consequently organised thematically under the headings of: conceptualizing the region economic issues political issues strategic issues regional organizations As such, the Handbook presents some of the key elements of the competing interpretations of this important and highly contested topic, giving the reader a chance to evaluate not just where Asian regionalism is going but also how the scholarship on Asian regionalism is analysing these trends and events. This book will be an indispensable resource for students and scholars of Asian politics, international relations and regionalism.

This volume examines the prominent role of China in global politics and the relevance of the 'new regionalism' paradigm to China's international outreach. It provides a comprehensive and critical assessment of China's impact on the global politics of regionalization, offers a novel application of analytical models, investigates the aspects of the Chinese practice of regionalization that set it apart, and demonstrates China's transformative potential in international life. Addressing the need to 're-Orient' the research and policy agenda of international relations, this comprehensive study demonstrates both the lack of language to engage with existing norms and standards and the difficulty of applying them to an evaluation of the global politics of China's 'non-Western' international agency.

This book analyzes the social forces and political coalitions driving regional integration projects in Asia with a focus on ASEAN and Indonesian conglomerates. It asks which social forces, within the domestic political economy of Asian states, are driving governments to seek regional arrangements for economic governance. In particular the book asks how the emergence, reorganization, and expansion of capitalist class have conditioned political support for regional economic integration. By addressing these issues, the book emphasizes that the wellspring of regional economic institution projects stem from the process of capitalist development and the social forces it has unleashed. The book’s aims place the social and class relations that underpin regional projects – rather than the institutions which result from them—at the centre of the analysis of regional integration. The research for this account draws primarily on primary documents from archival and field research conducted by the author—including company documents and in-depth interviews, government reports and policies, and trade publications and data sources, which is supplemented with secondary sources where relevant.

This book brings together scholars based in, or had previously been based in a range of East and Southeast Asian countries, building on their respective primary empirical data and first-hand experience as academics and think tank researchers, in order to pluralise the current debates about governance in transitional societies. In an era of global democratic backsliding, this edited volume offers less-explored local perspectives, to balance the Western-centrism observed in area studies and the focus on former Soviet countries in transit. What is the future of governance in Asia? This book, by attempting to supply a diversity of answers, will interest political scientists, economists, and journalists.

One of the apparent contradictions which has puzzled observers of East Asian politics is why, despite the region's considerable economic integration, economic governance institutions remain largely underdeveloped. This book stems from the observation that the study of actual forms of economic governance in Asia has been impeded by the dominance of a ‘regionalism’ problematique. Scholars have focused on the emergence – or not – of regional multilateral institutions, seeking to evaluate these institutions’ capacities to enforce disciplines on Asian states. However, they have also neglected prior, and more pertinent, questions regarding the causal determinants of regional economic governance, which animate the contributions to this collection: What factors shape the scale and instruments of economic governance in Asia; and how and why is economic governance being rescaled between the sub-national, national and regional levels? In the chapters of this book, the contributors explore the social and political struggles over the scale and instruments of economic governance. They identify and explain the emergence of a wide variety of regional modes of economic governance, explain the factors shaping the spatial scale of economic governance in Asia, and discern the patterns of regional integration to which they give rise. This book was originally published as a special issue of the Australian Journal of International Affairs.

This study demonstrates why the global economy and global policies can only be understood by assigning equal importance to actors from different continents and international institutions. The contributors begin by examining the effects of reducing trade barriers through the WTO processes, and the implications for our understanding of market forces, the diminishing capacity of governments, consumer power, and the role of international agreements. They provide fascinating details on how the European Union and Japan develop their own strategies toward emerging Asian and Latin American states, quite separately from the United States.The focus then shifts toward integration processes in Latin America. The book concludes by attempting to make sense of the political principles underlying the complex economic policies of the main actors in today's global economy, focusing on development strategies offered by the World Bank.

Economic globalisation is a long-term international process in which the roles of the EU, ASEAN, Korea, Japan and China are of increasing importance. Trade dynamics and foreign investment, as well as regional policy cooperation in Europe and Asia, are discussed here along with historical developments. Moreover, the book highlights links between European Community law and WTO regulations. The key challenges posed by China's economic expansion are part of the analysis; specific issues concern international outsourcing and off-shoring as well as regional economic integration in a period of financial globalisation. Based on historical dynamics, theoretical analysis and global shifts, policy solutions for Europe, Asia and the world economy can be arrived at: The book offers clear policy options and also reveals crucial issues in terms of the welfare analysis of regional integration.