 The Motive Power for World Economic IntegrationMyung-Gun Choo
Chapter 2 in The New Asia in Global Perspective, 2000, pp 24-39 from Palgrave Macmillan Abstract: Abstract By utilizing the low labour costs and production base in Asia, the USA has successfully stabilized prices in its domestic market and advanced its industries since the Second World War. Caught completely off guard by the rapid development of Asia’s productivity and technological know-how, the USA struggled to implement measures to keep the region’s growth in check. Ironically, this move by the USA brought Asian countries closer together and further helped to strengthen their solidarity. Japan moved its production facilities to developing countries in order to avoid import regulations and realize lower production costs. If there were wage increases in one country, Japan would withdraw its production facilities from that country and move to another. As this process repeated itself throughout the region, developing countries in Asia, one after another, were able to increase their range of technology and realize their potential for development. As a result, new demands were created and intraregional trade dependency increased, securing Asia’s position in the international arena. Keywords: European Union; North American Free Trade Agreement; Military Spending; Asian Nation; East Asian Economy (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-50893-4_2 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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