Transcription of Chapter 2 Asian Regionalism: Context and Scope
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Chapter 2 Asian Regionalism: Context and Scope
Chapter 2 Asian Regionalism: Context and ScopeEmerging Asian Regionalism26 Chapter 2 Asian regionalism: Context and scopeAsian regionalism is the product of economic interaction, not political planning. As 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. But adversity also played a role. 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.
This chapter traces the progress of Asian integration and explores its implications for the future. It begins by exploring the connections between Asia’s development patterns and economic integration. It then examines the challenges interdependence poses for policy, setting the stage for subsequent chapters. 2.1. Growth and integration
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