Description
TOPIC: What is the future of globalization in East Asia?
REQUIREMENTS: Outside research (at least one source); Multidisciplinary approach (at least two
disciplines); Double-spaced, standard 12 pt. font; Length of 4½-5 pages + additional bibliography/works cited page.
Explanation & Answer
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Running head: THE FUTURE OF GLOBALIZATION IN EAST ASIA
The future of globalization in East Asia
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THE FUTURE OF GLOBALIZATION IN EAST ASIA
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Globalization is a dynamic process whose likely outcomes are quite difficult to predict. It
is typically meant to integrate various economies and societies on a global scale into a common
way of production and doing business. Driven by modern capitalism, globalization has had
significant impacts on the global business, market, and economy. This paper bring out and
explains the future of globalization in East Asia.
East Asia is the eastern sub-region of Asia consisting of countries like China, Japan,
Hong Kong, Macau, South Korea, North Korea, Taiwan, and Mongolia among others. Among
the states making up the East Asia region, Japan, China, North Korea, Hong Kong, and South
Korea are the key focus when establishing the future of globalization in the region because of
their economic impact to the area and the rest of the world (Arrighi, 1998 ).
Owing to the impact of globalization on East Asian countries, East Asian economy has
become one of the greatest regional economies in the world. The region host some of the largest
economies in the world such as China as the second largest economy in the world after the
United States. On the other hand, Japan is among the largest global economies and among the
most developed countries in the world. On the other hand, Some East Asian countries like North
Korea host some of the leading technology companies such as Samsung and Toyota and Sony in
the case of Japan (Arrighi, 1998 ). These aspects among others mark a great future for
globalization in the economic region.
Some of the other factors depicting a great impact of globalization on the economy of
East Asia include higher IQ of citizens of East Asian countries than most other races, stable
political environments within the East Asian countries, as well as favorable legal environment
THE FUTURE OF GLOBALIZATION IN EAST ASIA
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that keeps on attracting global investments within the region. Besides, the region is characterized
by abundant natural resources, skilled labor, and plentiful supply of low-cost resources.
A reflection of the political factors influencing the future of globalization in East Asia
shows a brighter future for this business/economic process. A majority of people in East Asian
countries consider the adoption of greater levels of globalization crucial to the development of
the overall economy of their countries as well as improvement on their economic and social
wellbeing (Xu, 2013). For instance, a study conducted by Xu (2013) showed that there is no
backlash to the notion of globalization both theoretically and empirically since the results
presented in the study about the public opinion towards globalization in East Asia did not depict
major negative responses regarding the impact of globalization to the economy (Xu, 2013).
The results by Xu (2013) triggered the notion that globalization is likely to be
increasingly adopted by countries in the region because the political environment attracts and
facilitates the business process. The results also showed a major difference in the public opinion
about globalization in East Asia and the public opinion in other regions such as North America
and Europe, whereby the public in the latter economic regions have had mixed reactions towa...