Wood, Jacob, Jang, Haejin, and Tan, Sook Rei (2024) Trade and Development in Asia. In: Tan, Sook Rei, Jang, Haejin, and Wood, Jacob, (eds.) Economic Growth and Development in the Tropics. Routledge Advances in Business, Industry and Trade in the Tropics . Routledge, London, United Kingdom, pp. 1-15.

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Abstract

In recent decades, the Asian region has enjoyed the benefits of an increasingly neo-liberalist trade policy agenda. However, as more protectionist trade policies gain momentum and a global pandemic still having an impact on the region, many ponder what the future might look like. Will international trade continue to be a key driving force for progress and economic development? To address this question, our research examines the current economic, trade, and geopolitical factors of Asia to ascertain whether the current policy settings are right and potentially what countries can do to harness the enormous potential that lies within the region. Our analysis shows that while COVID-19 and the ongoing war in the Ukraine have undoubtedly had an impact, the reliance of local communities and the desire by Governments to try and retain, where possible, an open and forward-thinking view towards international trade and development means that an optimistic view of future remains. However, such optimism has been tempered by inflationary concerns and the uncertainty that still exists around how far and how fast interest rates will rise in the United States (US), the flow on effects of which will have a bearing on the economic performance of Asia.

Item ID:	81748
Item Type:	Book Chapter (Research - B1)
ISBN:	9781003349204
Related URLs:	Publisher
Copyright Information:	© 2024 selection and editorial matter, Sook Rei Tan, Haejin Jang and Jacob Wood; individual chapters, the contributors
Sensitivity Note:	Not applicable
Date Deposited:	07 Feb 2024 03:36
FoR Codes:	38 ECONOMICS > 3801 Applied economics > 380199 Applied economics not elsewhere classified @ 100%
SEO Codes:	15 ECONOMIC FRAMEWORK > 1502 Macroeconomics > 150203 Economic growth @ 50% 15 ECONOMIC FRAMEWORK > 1501 International trade policy > 150199 International trade policy not elsewhere classified @ 50%
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