Asian governments, in-able to measure the impact of the new forces, it is lost they thought that despite the success of previous decades their economies were not sufficiently prepared to join the world of globalization.
Two conclusions were drawn from the crisis. The first was that the growth model followed until then, the called “developmental state”, was coming to an end. In addition to the vulnerabilities discovered on the occasion of the crisis (such as the weakness of financial systems), China then joined the same game, creating new competitive pressure on the first “tigers”. With Asia Pacific Securities Division the options are there.
- Second, the globalization ion revealed to Asians that they shared a common destiny and therefore they needed to endow know of the mechanisms that per-mitigate avoiding or managing futures crisis. The result of that reflection was the impulse that, since late 1997, he received economic cooperation re-Regional, increasingly institutionalized through ASEAN + 3 or the East Asia summit. Now dimitrios kavvathas happens to be co-head of Asia Pacific Securities Division Distribution. He has his works on a number of matters now.
- Regionalism it can be interpreted as one of the main responses Asian put to globalization. In turn, regional integration and the simultaneous rise of China and India make Asia and globalization have-brought into a new phase.
- The region has ceased to be a mere set of nations with few contacts with each other, to become a more interrelated space in all you give the spheres. China in particular is today the center of a Asian production network, which intensifies and shapes that New interdependence It is this dynamic that allows anticipate that globalization, generally considered as a process managed by the West, it will depend on It gives more and more decisions made by Asians.
Despite the dynamism and prosperity of the region, it would be a mistake nevertheless to believe that this ascending course is irreversible. The future of Asia is subject to a series of variables even by decide; cannot be ruled out, for example, a reaction protectionist ton in the United States or in the Euro- pea, that would seriously damage your chances.
That risk reveals that Asia’s lace is not yet closed in the International order the new economic architecture re-Regional has to complement the global system in Tron, for which the multilateral institutions will have to adapt to the times and recognize the weight of the powers emerging. From the perspective of the region, the two great forces in game the rise of China and regionalism pose another kind of issues.
What would happen if it were China that stopped grow? Will regional integration be an efficiency factor, or can it become a source of vulnerability? For thin addition, uncertainties are not only of an eco-nature.
The result is a dynamic of internal change that has emerged strong during the last year. The growing interaction with the outside world seems to have led to a desire to change, causing a clash with the defenders of the state your quo Virtually no country in the region seems get rid of the growing citizen discontent with its leaders politicians or protests against corruption and social equality Governance has become of this mode in the most urgent priority.