Globalization And The Asian Economic Crisis

This book looks at globalisation in historical perspective and *examines the experience of East Asian economies during the financial crisis *provides an account of globalisation through the activities of Japanese multinational enterprises *deals with the social consequences of exposure to the financial market risks of globalisation in East Asia *details the experience of East Asian economies in managing the financial crisis *draws lessons from East Asian experience with financial market liberalisation *asks what approaches to international financial cooperation, trade policy and corporate governance can assist East Asian interests in the world economy.

This timely volume examines various economic, managerial, social and political aspects of globalization and its impact on local economies. State-of-the-art analytical models and original empirical research is used to understand four key and interrelated facets of globalization; ¢ To understand the prospects and the problems of international business and MNCs in the global economy. ¢ To analyze globalization as a process of change. ¢ To understand the new roles of nation states in light of the above. ¢ To articulate the uneasy idea that globalization has resulted in serious imbalances in the global economy. The collection hosts a list of internationally eminent scholars who explain the implications of globalization for progress, crises and conflicts in South and Southeast Asia.

An examination of the political and economic causes and consequences of the Asian financial crises.

As witness to one of the world's great crises in recent times, academics and students, business people, national and international government analysts, policy makers and political leaders worldwide have been pre-occupied by an effort to adequately unravel or sufficiently understand the factors that have brought about the so-called Asian financial, currency or economic crisis and hopefully to find plausible cures or solutions to it. This book examines the impact of economic globalization in developing economies and it applies empirical studies of all of the major countries to theoretical perspectives on the crisis.

Key events in Asia’s recent history have included the end of the Cold War, the Asian Economic Crisis and the ‘war on terror’. This is a critical assessment of these events, and of the interplay of security and economics in shaping political regimes and modifying market systems. Based on the notion that market systems are inherently political and conflict-ridden, this collection clarifies and explains the conflicts shaping the path of neoliberal globalization. Collectively it represents a disciplined and systematic address of four overarching questions: * What are the significant conflicts emanating from neoliberal globalization, and what are their implications? * What are the implications of new security concerns for these conflicts, and what are their impacts? * How are conflicts associated with globalization and security affecting social and economic policy directions? * Can these directions be reconciled with the reproduction of existing political regimes, or do they threaten their basis? In addressing these questions, the essays depict neoliberal globalization – in the new security context – as being able to accommodate a range of political regimes. This fascinating collection is a must-read for those with a professional interest in the region post-9/11. This book was previously published as a special issue of the Journal Critical Asian Studies.

This study examines the social impact of the Asian financial crisis which began in July 1997. Several countries experienced an economic shock of unprecedented severity after decades of uninterrupted growth. The severe rise in unemployment and its repercussions in the worst-affected countries (Thailand, Republic of Korea and Indonesia) overwhelmed the underdeveloped systems of social protection. Higher unemployment and inflation combined to push many people into poverty. A central policy message is that current programmes of policy and institutional reform following the crisis, should include a basic rethinking of the social dimension of the future model of development. The author also argues for the introduction of unemployment insurance, the expansion of social assistance and the strengthening of active labour market policies.

East Asia is widely regarded as the main "winner" in contemporary globalization, unscathed by the economic crisis of 2008, with its leading new industrializing nations and emerging economies. While twentieth century globalization was mainly led by the West, the twenty-first century is ushering in different dynamics. The re-emergence of Asia involves alternative visions of the world and different perspectives on globalization. This volume seeks to address these dimensions, turning to local reflexivities, notably in South Korea and China, to explore the key debates in sociology and political economy within East Asia rather than from an outside view.