Introduction—Globalization and Economic Divergence

Anthony Elson

Chapter Chapter 1 in Globalization and Development, 2013, pp 1-18 from Palgrave Macmillan

Abstract: Abstract In recent years, and in particular in the wake of the global financial crisis, there has been much commentary about the shifting balance of economic power in the global system from the advanced countries on both sides of the North Atlantic to the rising powers of East Asia centered around China in the Asia-Pacific region. This shift reflects one dramatic result of economic globalization that has allowed certain countries, in particular the new industrializing economies of East Asia, to enter into a process of convergence and catch-up with the advanced countries of North America and Western Europe. This pattern of development has been underway since the middle of the past century, but it has intensified since around 1980.

Keywords: Foreign Direct Investment; Technological Capability; Advanced Country; Global Trade; East Asian Region (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-31639-4_1

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DOI: 10.1057/9781137316394_1

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