Asia's Borderless Economy: The Emergence of Sub-Regional by Edward K. Y. Chen, C. H. Kwan

By Edward K. Y. Chen, C. H. Kwan

This can be a panoramic examine of the industrial zones of Asia and their destiny within the region's development and balance. the outlet bankruptcy examines the altering worldwide and local fiscal surroundings: globalization vs regionalization; monetary luck within the zone; quick progress in exchange and funding; and the bases of nearby co-operation. experts on all the rising Asian fiscal zones then study these zones. Chen and Kwan finish with a glance on the demanding situations and possibility components that the Asian economies face, and supply an positive overview of the customers of the Asian economies within the context in their financial zones.

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Additional info for Asia's Borderless Economy: The Emergence of Sub-Regional Zones

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33 THE SOUTH CHINA ECONOMIC ZONE Both are looking for investment opportunities desperately. Southern China, on the other hand, is embarking upon its industrialization program and is in need of capital. As the three places are complementary to each other, potential economic benefits for all three parties will therefore be great should they develop closer economic linkages. 1 Source: Industry Department, Hong Kong’s Manufacturing Industries 1994. 4 The author is grateful to the Census and Statistics Department for providing the figures on capital stocks although their publication is not encouraged.

With southern China as its hinterland, Hong Kong is fast transforming itself from a city-state to the capital city of a national economy. Boosted by Hong Kong and Taiwanese capital, southern China has entered a stage of economic take-off, and Guangdong Province now boasts the highest economic growth rate in the world. The Northeast Asia Economic Zone An economic zone involving countries bordering the Japan Sea—Japan, South and North Korea, Northeast China, and Far East Russia—is emerging in Northeast Asia.

The SCEZ, in a broad sense, includes Hong Kong, Macau, Taiwan and southern provinces of China such as Guangdong, Hainan, Fujian, Zhejiang and even Shanghai. The SCEZ, narrowly defined, includes only Hong Kong and the Pearl River Delta. For the purposes of this chapter, the SCEZ includes Hong Kong, Taiwan, Guangdong and Fujian because economic interactions are most intensive among these places. The emergence of the SCEZ is fundamentally due to the complementarities that exist among the economies involved.

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