New Asian Regionalism: Responses to Globalisation and Crises PDF
Preview New Asian Regionalism: Responses to Globalisation and Crises
New Asian Regionalism Other books by Tran Van Hoa CAUSES AND IMPACT OF THE ASIAN FINANCIAL CRISIS (editor with C. Harvie) COMPETITION POLICY AND GLOBAL COMPETITIVENESS (editor) CONTRIBUTIONS TO CONSUMER DEMAND AND ECONOMETRICS (editor with R. Bewley) ECONOMIC CRISIS MANAGEMENT (editor) ECONOMIC DEVELOPMENT AND PROSPECTS IN THE ASEAN (editor) NATIONAL INCOME AND ECONOMIC PROGRESS (editor with D. S. Ironmonger and f. O. N. Perkins) SECTORAL ANALYSIS OF TRADE, INVESTMENT AND BUSINESS IN VIETNAM (editor) THE MACROECONOMIC MIX IN THE INDUSTRIALIZED WORLD (co-author with /. O. N. Perkins) PROSPECTS IN TRADE, INVESTMENT AND BUSINESS IN VIETNAM AND EAST ASIA (editor) SOCIAL IMPACT OF THE ASIA CRISIS (editor) THE ASIA RECOVERY (editor) VIETNAM: MARKET INTELLIGENCE AND BUSINESS ANALYSIS (author) VIETNAM'S REFORMS AND ECONOMIC GROWTH (co-author with C. Harvie) New Asian Regionalism Responses to Globalisation and Crises Edited by Tran Van Hoa and Charles Harvie University of Wollongong Australia * Editorial matter and selection © Tran Van Hoa and Charles Harvie 2003 Chapters 1, 2 and 12 © Tran Van Hoa 2003 Chapter 6 © Charles Harvie 2003 Remaining chapters© Palgrave Macmillan 2003 Softcover reprint of the hardcover I st edition 2003 978-1-4039-1798-0 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No paragraph of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or underthe terms of any licence permitting limited copying issued by the Copyright Licensing Agency, 90 Tottenham Court Road, London WIT 4LP. Any person who does any unauthorised act in relation to this publication may be liable to criminal prosecution and civil claims for damages. The authors have asserted their rights to be identified as the authors of this work in accordance with the Copyright, Designs and Patents Act 1988. First published 2003 by PALGRAVE MACMILLAN Houndmills, Basingstoke, Hampshire RG21 6XS and 175 Fifth Avenue, New York, N.Y. 10010 Companies and representatives throughout the world PALGRAVE MACMILLAN is the global academic imprint of the Palgrave Macmillan division of St. Martin's Press, LLC and of Palgrave Macmillan Ltd. Macmillan' is a registered trademark in the United States, United Kingdom and other countries. Palgrave is a registered trademark in the European Union and other countries. ISBN 978-1-3.\9-51382-6 ISB"\1 978-0-230-37756-1 (eBook) DOl 10.1057/9780230377561 This book is printed on paper suitable for recycling and made from fully managed and sustained forest sources. A catalogue record for this book is available from the British Library. Library of Congress Cataloging-in-Publication Data New Asian regionalism: responses to globalisation and crises I edited by Tran Van Hoa and Charles Ha1·vie. p. em. Includes bibliographical references and index. ISBN 978-1-4039-1798-1 1. Asia-Economic integration. 2. Regionalism-Asia. 3. Asian cooperation. 4. Financial crises-Asia. 5. Globalization-Economic aspects-Asia. 6. Asia-Econom1c conditions-1945·- I. Tran, Van Hoa. II. Harvie, Charles, 1954- HC412.N447 2003 337.1'5-dc21 2003053624 10 9 B 7 6 5 4 3 2 1 12 11 10 09 08 07 06 OS 04 03 To Souraya, Danielle, Cybele and Caterina Tran Van Hoa To Sonya Charlie Contents List of Tables List of Figures List of Abbreviations Acknowledgements Notes on the Contributors Part I Introduction 1 New Asian Regionalism as Responses to Globalisation and Crises: Overview Tran Van Hoa Introduction Scope of the book 2 Globalisation, Crises and the Emergence of New Regionalism: Genesis and Current Development Tran Van Hoa Introduction Genesis of the expanded ASEAN New developments in NARs and FT As in Asia The East Asia 3 and the ASEAN Challenges to ASEAN+3 Responses to the ASEAN+3 from the IMF Conclusions Part II Regional Economic Issues 3 The Systemic Effects of Recent Regionalism Peter f. Lloyd Introduction Features of recent regionalism Systemic effects Summary and conclusions Vll viii Contents 4 New Regionalism in East Asia: How Does It Relate to the East Asian Economic Development Model? 40 Charles Harvie and Hyun-Hoon Lee Introduction 40 Recent development of RTAs in East Asia 41 The East Asian development model: past and present 44 Concluding remarks 67 5 Development Strategies for Economies Under Globalisation: Southeast Asia as a New Development Model 72 Fukunari Kimura Introduction - globalisation and developing countries 72 Outdated arguments in development economics 73 Recent international trade theory developments on FDI 77 Industrial organisation and foreign affiliates in the SEA countries 81 Penetration of international policy discipline 87 Designing new industrial promotion policies with FDI 88 Concluding remarks 92 6 Regional SMEs and Competition in the Wake of the Financial and Economic Crisis 96 Charles Harvie Introduction 96 Broad issues and the significance of the SME sector in East Asia 97 Impact of the crisis on, and response by, regional SMEs 109 Importance of the SME sector for competition, restructuring and sustaining economic recovery 116 Conclusions and policy implications 121 Part III Country Case Studies: Trade, Globalisation and Development 125 7 The Chinese Transition of a Social Economy and Its Competitiveness in International Trade 127 Yanyun Zhao and Lei Zhao Introduction 127 The indices for international comparison 128 Contents ix International comparison of social economy transition competitiveness in China 130 The cluster analysis of China's social economy transition ability 132 Concluding remarks for Chinese transition 136 China's competitiveness and international trade 136 Vietnam: Global Slowdown, Integration, Growth and Social Impact 151 Dzung The Nguyen Introduction 151 Vietnam's achievements in the 1990s and development goals in the new millennium 152 Vietnam's strategies to cope with the global slowdown 158 Impact on growth and poverty reduction 164 Summary and conclusion 167 Indonesia: Crises, Reform, Globalisation and SMEs 170 Noer Soetrisno Introduction 170 SMEs and the economic crisis 171 Early reform and new economic format 175 Globalisation: challenges and opportunities 177 SME development strategy 178 An agenda for future action 180 Concluding remarks 183 The Aftermath of Thailand's Economic Crisis and Some Possible Ways Out 185 Apichai Puntasen The Thai economy before the crisis 185 The economic crisis and fiscal response 188 Other related issues that affected economic performance before and after the crisis 189 Response from the government 192 SMEs as another crucial stimulus 195 Performance based and rolling budgeting 197 Attaining a sufficiency economy: a policy that did not receive adequate attention 199 Summary and conclusions 202 x Contents 11 WTO, Trade Reforms and the Philippine Economy: Are Filipinos Better Off? 207 Cielito F. Habito and Rebecca Valenzuela Introduction 207 Philippine trade protection: a historical perspective 209 Post-WTO economic performance: a focus on the agricultural sector 214 Analytical results: simulations with the APEX model 224 Summary and conclusions 244 Part IV Challenges and Prospects 249 12 Asian Regionalism, Crises and the World Economy: Challenges and Prospects 251 Tran Van Hoa Index 254
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