EU - ASEAN: Facing Economic Globalisation by Paul J.J. Welfens, Suthiphand Chirathivat, Franz Knipping

By Paul J.J. Welfens, Suthiphand Chirathivat, Franz Knipping

Economic globalisation is a long term overseas procedure within which the jobs of the european, ASEAN, Korea, Japan and China are of accelerating significance. exchange dynamics and international funding, in addition to nearby coverage cooperation in Europe and Asia, are mentioned right here besides historic advancements. furthermore, the e-book highlights hyperlinks among eu group legislations and WTO laws. the foremost demanding situations posed via China's monetary growth are a part of the research; particular matters quandary overseas outsourcing and off-shoring in addition to local financial integration in a interval of economic globalisation. in line with ancient dynamics, theoretical research and international shifts, coverage ideas for Europe, Asia and the realm economic climate will be arrived at: The booklet deals transparent coverage innovations and likewise unearths an important concerns by way of the welfare research of nearby integration.

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Example text

To the extent that the mass unemployment problem contributes to social and political conflicts as well as political radicalization, high long term unemployment could contribute to political destabilization which in turn will raise the political risk premium and weaken growth in the long run. A EU25 in which economic divergence across countries should be observed is likely to be highly unstable. Already in 2005 – just a year after EU enlargement – the EU shows signs of increasing weakness; failed referenda in France and the Netherlands have shown that the EU has lost broad popular support in EU founding countries.

This brings, however, a major challenge for EU countries in terms of intensifying human capital formation and the drive towards technology-intensive industries. Long term structural adjustment in Europe and Asia are a natural part of international competition, sustained innovation dynamics and ongoing economic globalization. The European Commission (2007, pp. 42–43) notes with respect to China, India and Russia: China’s contribution to world-wide growth in the more recent past has indeed been impressive, particularly considering the Asian financial crisis in 1997/98 and the worldwide slowdown following the bust of the IT-bubble in the United States in 2000.

Learning by doing effects). 1). 0. 8. Sweden was a clear leader in this field. 4, respectively. It is interesting to observe that in the field of product innovations in manufacturing, Germany was below the EU average despite its leading position in R&D intensity. Finland, Sweden and France were leading countries in the field of product innovations. This suggests that the German innovation system might have considerable efficiency problems. A similar picture is found in production innovation in the services market.

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