Asia’s Changing Mechanism of Development and the Global Economy

Hitoshi Hirakawa ()
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Hitoshi Hirakawa: Nagoya University

Chapter Chapter 3 in The Dynamics of Asian Economic Development, 2024, pp 59-103 from Springer

Abstract: Abstract In this chapter, we confirm that the development of the Asian economy from the 1990s to the early part of this century was achieved amidst a deep relationship with the change in the world political economy. At the same time, we will trace the development of the Asian economy for the past half century, and consider this development, not as the product of universal development policies, but as the result of the interplay of simultaneously changing global and regional economies which are deeply related to the foreign direct investment (FDI) of advanced economies. Extracting the main points of the mechanism of this development is the main objective of this chapter. At the end of this chapter, we determine how, through such a mechanism, Asia’s development is promoting a structural shift of the global political economy, and the new issues arising thereof.

Keywords: BRICs; Emerging economies; FDI; Middle class; PoBMEs; Population dividend (bonus) (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-97-3106-0_3

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DOI: 10.1007/978-981-97-3106-0_3

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