From global factory to global mall: East Asia’s changing export composition

Matthias Helble, Boon-Loong Ngiang 08 September 2014

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Over the past decades, East Asia has been the most successful region in the world in building up cross-border supply chains and has subsequently become described as “Factory Asia” (Baldwin 2008). In a form of “triangle trade”, advanced countries in East Asia exported sophisticated parts and components to less developed countries in the region, where these are assembled into final consumption goods and then shipped to rich-nation markets, especially the US and EU (Baldwin and Kawai 2013).

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Topics:  Development International trade

Tags:  supply chains, Factory Asia, East Asia

How the euro synchronised EZ cycles

Ayako Saiki, Sunghyun Henry Kim 02 February 2014

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Prior to the introduction of the euro, the topic of whether the Eurozone fulfils the conditions for an optimum currency area was highly debated (e.g. Bayoumi and Eichengreen 1992).

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Topics:  EU institutions International finance International trade

Tags:  eurozone, euro, trade, business cycles, East Asia, supply chains, optimum currency area

Who benefits from aid for trade?

Philipp Hühne, Birgit Meyer, Peter Nunnenkamp 31 July 2013

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Donors are widely believed to use aid as a means to foster their own commercial interest (e.g., Berthélemy 2006, Hoeffler and Outram 2011). Nevertheless, assessments of the Aid-for-Trade initiative have largely ignored so far that exporters in the donor countries may be among the main beneficiaries.1 Furthermore, there is limited theoretical guidance with respect to the relative strength of the effects of Aid-for-Trade on recipient versus donor exports.

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Topics:  Development International trade

Tags:  Africa, Latin America, aid, East Asia

The need for a second round of ‘look east’ policies in south Asia

Pradumna B. Rana, Chia Wai Mun 01 April 2013

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The global economy was traditionally dominated by north-north relations with some concern for north-south relations. South-south economic relations were, until recently, of minor import.

In the early 1990s, south Asian countries initiated their ‘look east’ policies to enhance closer relations with east Asia (see Haokip 2011, Ladwig III 2009). India announced its ‘look east’ policy in 1991 and subsequently other countries followed suit. This shift is best thought of as part of their economic reform programs.

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Topics:  Development Global economy

Tags:  India, East Asia, look east

Growth dynamics and policy choices facing Indonesia

Ganeshan Wignaraja 21 February 2013

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Growth slowed in Indonesia in 2012, indicating that the global financial crisis and economic slowdown had indeed had an effect on ASEAN’s biggest economy. Indonesia grew at 6.2% in 2012, down slightly from 6.5% in 2011. Overall, this remains a respectable figure. Bear in mind that Indonesia's annual average growth in the previous decade was below 6% (see Figure 1). Developing Asia as a whole grew at 6.1% in 2012.

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Topics:  Development Politics and economics

Tags:  trade, natural resources, East Asia, state capitalism

The impact of China’s exchange-rate policy on trade in Asia

Alicia García-Herrero, Tuuli Koivu 16 April 2010

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The amazingly rapid rise in China’s exports, to a large extent at the cost of other countries’ market shares, has heightened the discussion about China’s exchange rate. The question really is whether such an export boom can at least partly be explained by an undervalued currency.

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Topics:  Exchange rates International trade

Tags:  China, East Asia, exchange-rate policy

Alternatives to sizeable hoarding of international reserves: Lessons from the global liquidity crisis

Joshua Aizenman 30 November 2009

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The spectacular increase in hoarding of international reserves (IR) by emerging markets, in the aftermath of the East Asian crisis, has been one of the defining features of global imbalances (Summers 2006). This accumulation reflects, among other factors, the self insurance provided by international reserves against sudden stops and deleveraging crises (Aizenman and Lee 2007).

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Topics:  International finance

Tags:  reserves, East Asia, sudden-stops

Tangled up in trade? The “noodle bowl” of free trade agreements in East Asia

Masahiro Kawai, Ganeshan Wignaraja 15 September 2009

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The inability to conclude the comprehensive WTO Doha Round has spawned a proliferation of bilateral and plurilateral free trade agreements (FTAs) across the globe. While East Asia is a relative newcomer to FTAs, the region has seen dramatic growth in FTAs in recent years. A lively debate over the impact of FTAs on business in the region has resulted.

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Topics:  International trade

Tags:  regionalism, East Asia, FTAs, noodle bowl

East Asia and the new world economic order

Peter Drysdale, Hadi Soesastro 07 April 2009

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Now that the dust has begun to settle, it’s time to assess British PM Gordon Brown’s claim that the G20 Summit saw the creation of a new world economic order.

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Topics:  Global economy Global governance

Tags:  IMF, G20, East Asia

East Asia, the G20, and global economic governance

Hadi Soesastro 10 March 2009

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East Asian members of the G20 must participate strategically in this emerging global forum. They need to make sure that the G20 can produce policies and actions that will help bring the global economy out of the current crisis as soon as possible. Existing international institutions have been helpless in dealing with the issues the world now confronts and are in dire need of major reforms. There is now no better forum than G20.

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Topics:  Global crisis Global governance

Tags:  G20, East Asia, global economic governance