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Asian Responses to the Global Financial Crisis

The Impact of Regionalism and the Role of the G20 Edited by Jehoon Park, University of Incheon, South Korea, T.J. Pempel, University of California, Berkeley, US, and Geng Xiao, Fung Global Institute, Hong Kong
The expert contributors – both Asian and Western – illustrate that as G20 members, many Asian countries are now able to showcase their increasing powers and influence on global issues. Within this context, and via multidisciplinary economic and political science perspectives, the book deals with various issues such as World System analysis, the debate between the Washington Consensus and the Beijing Consensus, roles within the G20, and the contribution of ‘middle’ powers such as Korea and Australia. The application of European experiences to Asia is also considered, as are perspectives from the US. The book concludes that the key to resolving the current global economic crisis lies in how quickly a new global governance and monitoring system can be constructed, and that there are multiple roles for Asian countries to play in its development.
Extent: 304 pp
Hardback Price: $140.00 Web: $126.00
Publication Date: 2012
ISBN: 978 1 78100 390 9
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  • Asian Studies
  • Asian Economics
  • Economics and Finance
  • Asian Economics
  • Politics and Public Policy
  • International Politics
  • International Relations
  • Urban and Regional Studies
  • Regional Studies
This book takes account of the global financial crisis from Asian perspectives, considering Asian responses to the crisis via two key arenas – regionalism in Asia and the G20.

The expert contributors – both Asian and Western – illustrate that as G20 members, many Asian countries are now able to showcase their increasing powers and influence on global issues. Within this context, and via multidisciplinary economic and political science perspectives, the book deals with various issues such as World System analysis, the debate between the Washington Consensus and the Beijing Consensus, roles within the G20, and the contribution of ‘middle’ powers such as Korea and Australia. The application of European experiences to Asia is also considered, as are perspectives from the US. The book concludes that the key to resolving the current global economic crisis lies in how quickly a new global governance and monitoring system can be constructed, and that there are multiple roles for Asian countries to play in its development.

Written with a uniquely multidisciplinary approach, this book will prove a fascinating read for a wide-ranging audience encompassing academics, students, researchers and policymakers in a number of fields including Asian studies, economics, public policy and regional studies.
Contributors: E.K.Y. Chen, R. Higgott, D. Hundt, G. Kim, P. Kim, T. Kim, Y. Kim, J. Ma, W. Moon, T. Nakajima, W. Pan, J. Park, T.J. Pempel, S. Quirk, L. Tian, I. Wallerstein, G. Xiao, J. Yang, L. Yongtao, D.R. Yoon
Contents:

Preface

1. Northeast Asia in the Multipolar World-System
Immanuel Wallerstein

2. The Other 80 Percent: Understanding Economic Drivers of Global Transformation
Geng Xiao, Sean Quirk and Jing Yang

3. Asian Capitalism: Beijing Consensus as an Economic Development Model for the 21st Century
Edward K.Y. Chen

4. The Renminbi Debate: A Review of Issues and Search for Resolution
Yoonbai Kim and Gil Kim

5. Weathering the Financial Storms: The Government of China
Jing Ma and Lihui Tian

6. The Global Financial Crisis and its Implications for East Asian Financial Integration
Pilhyun Kim

7. The G20 and the Role of Asia in the Future
Deok Ryong Yoon

8. The G20 and Asian Monetary Cooperation
Woosik Moon

9. APEC: The Future Prospects for a Bridge Spanning the Pacific
Tomoyoshi Nakajima

10. The ASEAN Economic Community and East Asian Economic Integration
Taeyoon Kim

11. Global Financial Regulation: G2 or G20?
T.J. Pempel

12. East Asian Community Building
Wei Pan

13. Sino–US Relations: Possible Trends and Implications for the East Asia Community
Liu Yongtao

14. Middle Powers and the Building of Regional Order: Australia and South Korea Compared
David Hundt

15. The Utility and Limits of the ‘European Model’ for the Regional Institutionalization of East Asia
Richard Higgott

16. Conclusion: From the Asian Community to the World Economy Government
Jehoon Park

Index