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Gateways to Globalisation

Asia’s International Trading and Finance Centres Edited by François Gipouloux, Research Director Emeritus, Centre National de la Recherche Scientifique (CNRS), France
Asia’s trading and financial hubs have become global cities which frequently have more in common and closer linkages with each other than with their corresponding hinterlands. As this book expounds, these global cities illustrate to what extent world trends deeply penetrate and permeate the national territorial interiors and processes that were otherwise presumed to be controlled by the State.
Extent: 288 pp
Hardback Price: £80.00 Web: £72.00
Publication Date: 2011
ISBN: 978 0 85793 424 6
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  • Asian Studies
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  • Business and Management
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Asia’s trading and financial hubs have become global cities which frequently have more in common and closer linkages with each other than with their corresponding hinterlands. As this book expounds, these global cities illustrate to what extent world trends deeply penetrate and permeate the national territorial interiors and processes that were otherwise presumed to be controlled by the State.

Gateways to Globalisation is soundly based on accurate and extensive research (including perspectives from historians, economists, geographers and sociologists) from China, Japan, Singapore and Hong Kong, in order to grasp the regional character of trade and finance, beyond national borders and traditional academic frameworks. The book documents that today, major urban centres such as Tokyo, Beijing, Singapore, Hong Kong and Shanghai, situated on the periphery of the maritime corridor of East Asia, form a system characterised by the intensity of their economic linkages and integration into the world economy. Since the mid-1980s, these major Asian cities have become the worldwide-oriented centres for production, trade, finance and research. This collective effort offers, in addition to its regional framework, up-to-date information that strengthens an original trans-disciplinary analysis of a region and its economic characteristics, which will be of interest to readers within academia and beyond.

This well-detailed and thorough work will interest academics and post-graduate students in economics, geography, finance, history, regional studies and Asian studies, as well as those who have a general interest in globalisation.
‘A new geography of economic power is emerging in East Asia. Written by leading experts in the areas of globalization, trade, producer services, financial centers, logistics and R&D, the book provides indepth and updated analyses of the leading role of Hong Kong, Shanghai, Tokyo, and Singapore in the recent rise of Asia as a major manufacturing base and exporter. The book reveals the historical, geographical, socio-economic and political peculiarities in the formation of world cities in East Asia.’
– Jianfa Shen, Hong Kong Institute of Asia-Pacific Studies and The Chinese University of Hong Kong

‘Gateways to Globalisation makes a significant contribution to the understanding of the emerging East Asian regional system of financial centres within the broader global context and how they interact within the global circuits of finance. In particular, it focuses on the emergence of the financial centres of Tokyo, Shanghai, Hong Kong and Singapore and the attempts by both national governments and the private sector to position them so that they become more competitive in the global and regional context. The volume shows much historical sensitivity showing that while the increase in the importance of these financial centres is principally post 1945, their emergence has been aided by the deep historical roots that go back several centuries. The book will be of great value in the interpretation of the role of East Asia in what many commentators have called the “Asian Century”.’
– Terry McGee, The University of British Columbia, Canada

‘Gateways to Globalisation cogently demonstrates that Hong Kong, Singapore, Beijing, Shanghai, and Tokyo operate as gateways to Asia and as linchpins for Asia to the global economy. The authors’ theoretical frameworks and original empirical research support provocative findings that challenge conventional thinking: Tokyo may decline as a global city. As Beijing and Shanghai ride China’s rapid growth they face uncertainty about its future openness to the global economy. Vibrant Hong Kong and Singapore confront challenges from other rising centers.’
– David Meyer, Washington University in St Louis, US

‘This book distinguishes itself in its emphasis on historical and cultural links as well as contemporary globalization processes on large East Asian cities. Arising from a research program and four seminars, the editor has picked scholars who can relate past and present trends. Historical links of Japanese cities are explored. Leading world cities in the region are analysed in their evolution from entrepôts to modern gateways, service integrators, transport hubs and financial centres. It is a study of the integration and interrelationships of East Asian cities in the global economy.’
– Yue-man Yeung, Chinese University of Hong Kong
Contributors: L. Bastide, P. Carioti, P.W. Daniels, D. Du, A. Ekman, F. Gipouloux, R. Hisasue, Y. Hu, C. Hung, J. Meng, P. Miège, C.J. Smith, Y.-W. Sung, J.J. Wang, X. Xu, Z. Yuan, L. Zhang, S.X.B. Zhao
Contents:

Preface

1. From Entrepôts to Service Integrators: Asian Metropolises in a Changing Flows and Nodes Configuration
François Gipouloux

PART I: THE LEGACY OF HISTORY
2. Tokyo’s Changing Role as a Financial Center Since the Seventeenth Century
Hisasue Ryoichi

3. 17th-Century Nagasaki: Entrepôt for the Zheng, the VOC and the Tokugawa Bakufu
Patrizia Carioti

PART II: HIGH VALUE-ADDED SERVICES AND METROPOLITAN DYNAMISM
4. Regional Headquarters for Multinational Enterprises in Chinese Cities: Strategies for Location
Christine Hung

5. China’s Tax System on Foreign Enterprises and its Impact on Multinational Firms’ Localization Strategies
Hu Ying

6. Hong Kong and Shanghai: Rivalry or Complementarity Among Asia’s International Service Hubs?
Sung Yun-Wing

7. Hong Kong: An Upgraded Gateway for China Trade
James J. Wang

8. Singapore in the New Economic Geography: From Geographical Location to the Relocation of Economic Dynamics
Loïs Bastide

9. The Factors of Competitiveness of Greater Chinese Cities: The Case of the Localization of Foreign Research and Development in Beijing and Shanghai
Du Debin and Pierre Miège

PART III: COMPLEMENTARITY AND RIVALRY AMONG ASIAN TRADING AND FINANCE CENTRES
10. The Global Economic Crisis: Opportunities for Major Cities in East and Southeast Asia?
Peter W. Daniels

11. The Eastward Shift: Rising Role and New Positioning of East Asian Cities in the Global Economy
Alice Ekman

12. Can Shanghai Become the New Hong Kong of China?
Yuan Zhigang

13. China’s Emerging Financial Centers: Shanghai, Beijing and Hong Kong
Simon X.B. Zhao, Zhang Li and Christopher J. Smith

14. Evaluating Beijing and Shanghai as Global Financial Centers
Xu Xun and Meng Jianjun

Bibliography

Index