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Globalization, Global Standards, and the Future of East Asia

Ha-Joon Chang

Global Economic Review, 2005, vol. 34, issue 4, 363-378

Abstract: After discussing whether there should be global standards in institutions, the article shows that the so-called global institutions (GSIs) are not truly 'global' but institutions that are specific to the Anglo-American countries. The article then criticizes the arguments that the Anglo-American institutions will eventually become GSIs because of their superiority. Finally, the article discusses why the Anglo-American institutions are particularly unsuited to developing countries, which is why even the Anglo-American countries adopted them only after they had achieved their economic development. It is concluded that the East Asian countries would be ill advised to adopt the so-called GSIs.

Keywords: Global standard institutions; East Asia (search for similar items in EconPapers)
Date: 2005
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Handle: RePEc:taf:glecrv:v:34:y:2005:i:4:p:363-378