Political Economy Of East Asia - Waseda University

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Political Economy of East Asia:Summary and Essay GuidanceMin ShuWaseda University2020/1/141

Political Economy of East Asia: the Past Lecture 1: Introduction: East Asia as a Region Lecture 2: The Silk Road: Political Economy of Trading Routes Lecture 3: Tribute, Trade and Regional Hierarchy in Pre-Colonial East Asia Lecture 4: Transnational Circulation of Money: Silver, JMY and USD Lecture 5: Spice, Opium, Oil and Colonialism in East Asia Lecture 6: Opening to the World: Japan, Korea and Thailand2020/1/142

Political Economy of East Asia: the Present Lecture 7: The Developmental State: Miracle, Crisis and Restructuring Lecture 8: 'Flying Geese' and Regional Production Networks Lecture 9: The Rise of China and Its Implications Lecture 10: Variety of Capitalism in East Asia Lecture 11: East Asian Regionalism Lecture 12: East Asia and World Economy2020/1/143

(East) Asia and the World Economy (East) Asia has played adominant role in the worldeconomy until the secondhalf of the 19th century Ancient civilizationSophisticated productsA large populationExtensive trade links Yet, it accounted for lessthan 20% of the worldeconomy in the 1950s2020/1/144

East Asia and the World Economy Useful references on pre-colonial (East) Asian political economy2020/1/145

East Asia and the World Economy How to explain the divergence of economic growth betweenEurope and Asia in the 19th century?Conventional wisdom Technological advancement Industrial revolution The nation-state systemRecent explanations Institutionalism: private property rights (North, 1990) Colonial exploitation: silver mines in the new world; early importsubstitution and export promotion in west Europe (Frank, 1998) Global economic integration: coal fueled energy-intensiveproduction; externally available raw materials allowed labor-savingindustrialization (Pomeranz, 2001)2020/1/146

East Asia and the World Economy The rapid resurgence of (East) Asian economies after the WWII Japan led the postwar recovery and boom in East Asia ‘East Asian Miracle’ East Asian tiger economies (South Korea, Singapore, Hong Kong and Taiwan) Southeast Asia (Malaysia, Thailand, Indonesia and the Philippines) Late catch-ups China: reform, opening-up, and rise Vietnam and Myanmar The rest of Asia India, Bangladesh, and Sri Lanka Central Asia2020/1/147

East Asia and the World Economy2020/1/148

East Asia and the World Economy Reasons behind the successful Asian economies (IMF diagnosis) Integration with the global economy (trade and FDI)High savings ratesLarge investments in human and physical capitalPrudent macroeconomic policies Additional factors and favorable conditions 2020/1/14A large (and young) populationGovernment support for key industriesExport and investment promotionRegional economic complementarity9

East Asia and the World Economy Challenges ahead The per capita income isquickly catching up, butremains lower than therest of the world Income inequality and itsimpact2020/1/1410

East Asia and the World Economy The anti-globalizationprotectionism, plus theongoing US-China trade war,cast a heavy shadow on EastAsian economies Regional economic andpolitical collaboration facesmany uncertainties2020/1/1411

Essay Guidance: Basic Requirements How long should the essay be? around 2,500 English words Essential requirements of the Essay Focusing on a specific topic Choosing an analytical (or theoretical) perspective Using empirical materials (historical events, statistic data, news stories, etc.) tosupport argumentation When should you hand in your term-essay? Upload to course n@vi Deadline: Tuesday, 21 January 20202020/1/1412

Topics of the term essay (due on Jan 21) Compare the ancient silk road and the Belt and Road Initiative Discuss the impact of regional hierarchy on pre-colonial East Asia Explain the special roles of the state in East Asia’s economic miracle Discuss the similarity and difference of capitalist institutions in East Asia Focusing on East Asian regionalism, explore the impact of regionalproduction networks, the Asian financial crisis, or the rise of China onregional cooperation2020/1/1413

How to Write a Good Essay? Choosing an essay topic Selecting one topic from the list Choosing an analytical perspective that interests you the most identifying the region(s) that you are familiar with Collecting related materials Libraries News, newspapers, internet sources Fieldwork (data collection, interviews, etc.)2020/1/1414

How to Write a Good Essay? Argumentation and writing What is your argument concerning the topic? Is your argument coherent? Do you have adequate (empirical and theoretical) materials in support of yourargument? Have you considered the possible limitation of, and alternatives to, yourargument? Notes and references Using notes to add additional information A reference list at the end of your essay2020/1/1415

Lecture 8: 'Flying Geese' and Regional Production Networks Lecture 9: The Rise of China and Its Implications Lecture 10: Variety of Capitalism in East Asia Lecture 11: East Asian Regionalism Lecture 12: East Asia and World Economy 2020/1/14 3 (East) Asia and the World Economy (East) Asia has played a dominant role in the world economy until the second half of the 19th century .

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