A recent study by the Asian Development Bank notes that by 25, Asia’s per capita income would rise six-fold to reach Europe’s levels today, one of many indications of Asia’s “re-emergence”. By then, Asia’s share of global GDP would have doubled and it would have regained the dominant economic position it once held some 3 years ago before the industrial revolution.What is less well-known is that during the previous eras of globalization, Asia was also regionally integrated and globally connected. During the 19th and the first half of the 2th centuries, Asia was divided and fragmented.This unique book argues that, led by the economic dynamism and “re-encountering” between China and India, we are witnessing the “Renaissance of Asia”. As in the bygone eras, Asia is integrating within itself and the global economy is intensifying, now driven by market-oriented production networks and economic policies. Asia is starting to be “re-centered” as trade and investment relations between South Asia and East Asia surge. Asia’s rise is a restoration of the past, not a revolution. This book is a must-read for anyone interested in the economic development of Asia.
Due to their sheer size and stake in the global economy, China and India have long been identified as the two giant economies of Asia. This book presents a highly engaging comparative study on the economic growth of China and India by examining the significance of the role of productivity in economic growth as well as their relations with regional partners. Through detailed analysis of trade, services, energy and pollution, readers are invited to follow the two distinctive development trajectories taken by the two countries, as well as challenged to consider the issue of sustainability of growth in the future.
Two Asias provides a fresh perspective on the Asia’s disparate economic prospects in the wake of the 28 global financial crisis and the Great Recession. The financial crisis, its propagation and real economic consequences are carefully documented, and used in conjunction with prior trends to identify the impending reconfiguration of wealth and power in Asia, and between Asia and the developed west. The study highlights Asia’s cultural and systemic diversity, and suggests that China’s, Vietnam’s and South Korea’s extraordinary catch-up during the last two decades is on the cusp of fading due to diverse technical, systemic and global reasons. It shows too that the West has learned little from the 28 financial crisis, that the planetary macroeconomy is headed for a period of protracted turbulence, all of which suggests that the world community needs to rethink its expectations. These findings are the net assessment of an international team of experts assembled under the auspices of the Japan Foundation’s Center for Global Policy, headed by Steven Rosefielde, Masaaki Kuboniwa and Satoshi Mizobata.
Analysts of government have frequently noted how Singapore’s policies are grounded in rigorous economics thinking. Policies are designed to be economically efficient even if they are not always popular. This pioneering book takes a different approach. It aims to demonstrate how successful policies in Singapore have integrated conventional economic principles with insights from the emerging field of behavioural economics even before the latter became popular. Using examples from various policy domains, it shows how good policy design often requires a synthesis of insights from economics and psychology. Policies should not only be compatible with economic incentives, but should also be sensitive to the cognitive abilities, limitations and biases of citizens. Written by policy practitioners in the Singapore government, this book is an important introduction to how behavioural economics and the findings from cognitive psychology can be intelligently applied to the design of public policies. As one of the few books written on the subject, it promises to stimulate wider interest in the subject among researchers, policymakers and anyone interested in the design of effective public policies.
This book is a collection of invited and selected papers from the Singapore Economic Policy Forum 29 around a central theme, Challenges Facing Singapore in the Post-Crisis Era and Policy Responses.There are very few books on the Singapore economy. This one is largely non-technical in nature and brings the reader up to speed on the key issues facing policymakers in Singapore in the wake of the worst financial crisis since the Great Depression. The contributors are all experts in their field and have extensive experience of the Singapore economy. The book also offers an international dimension to look at the role of China in the Asian economy and the impact on Asia of reforms to the international financial architecture.
This book is an annual effort by the economists from the Nanyang Technological University to provide analysis, interpretations and insights on contemporary economic issues affecting Singapore.In 21, Singapore’s economy was just recovering from the sharp economic downturn in 28/9 caused by the Global Financial Crisis. The global economic outlook in the short and medium term remained uncertain and the risk of another economic or financial crisis remains high. Thus, one of the key themes of this book is to study economic crises and financial crises, and the policy measures that are available to manage them.Looking ahead, in order to ensure long term growth and prosperity for Singapore’s economy, microeconomic policy adjustments and fine-tuning is still needed to build a competitive and resilient nation. Therefore, the second key theme of the book is to review several public policies in Singapore, such as competition, healthcare, training, free trade agreements, state capitalism and inequality.
At the beginning of the second decade of the new millennium, South Asia has emerged as a key regional variable in the contemporary global order. The last decade saw the region experiencing a robust phase of economic growth and development. Over time, South Asia’s economic progress is expected to accelerate, given its favourable demography and strategic location. The prospects of faster economic growth and development, however, will materialize depending upon the region’s success in handling various challenges including security, climate change, political instability and ethnic strife. It is in this context that the Sixth International Conference on South Asia brought together academics and policy specialists to provide insights and contribute to an understanding of the challenges and prospects facing the region in the new decade. This volume is a collection of the papers presented at the Conference and assembles a large and diverse set of viewpoints and perceptions on the region.
This book is a collection of speeches and lectures delivered by political luminaries, practitioners and noted scholars on South Asian security at the Institute of South Asian Studies, National University of Singapore.It offers interesting insights on the emerging security dynamics of South Asia. The issues covered are highly topical and include analyses of the conflict in Afghanistan, counter-terrorism in Pakistan, conflict management in Kashmir, post-conflict restructuring in Nepal and militarization in Asia. Some of the chapters provide in-depth analyses of the regional power politics and competing foreign policy priorities, with particular emphasis on India, the major regional power. India’s foreign policy and defense relations with Southeast Asia, China and Russia are covered in detail in individual chapters.The book brings together insights from experts who have served at the highest levels of government as well as scholars and experts with firsthand experience in the field. It highlights some of the significant security issues that have a vital bearing on the future of South Asia and will be of interest to policy makers, students and observers of the South Asian security scene.