Evaluation and Prospects of Asian Survival and Adaptation amidst Globalization

 Globalization in Asia
The Asian Century had begun. Asia is the world's largest regional economy and, as its
economies integrate further, it has the potential to fuel and shape the next phase of globalization.

Asia is increasingly the center of the world economy. This is a diverse region, but its
different parts have complementary characteristics, and powerful networks are developing within
Asia. Patterns of globalization are shifting, and these shifts are occurring faster in Asia than
elsewhere, suggesting that more than any other region, Asia could shape the way globalization
unfolds in the years to come. Looking at the increasing integration of the economies of the region,
and highlighting the development of three powerful new Asian networks: industrialization,
innovation, and culture and mobility, and the rising cities that are pivotal components of those
networks. The paper is one of a series on the Future of Asia, a multi-phase research project that
aims to decipher the many facets of Asia.

Asia has benefited greatly from globalization. Worldwide investment flows, knowledge
exchanges, and rapid economic growth have benefited Japan, South Korea, Taiwan, Malaysia,
Singapore, Hong Kong, Thailand, and China.

How did Asia achieve a shared prosperity from globalization while the rich countries
struggled and are facing political repercussions?

The answer may lie in the heavy investment made by Asian governments in human capital
(education and health) to prepare the workforce to take advantage of the high wage manufacturing
jobs created by globalized investment. To continue to attract foreign investment, the government
made infrastructure investments. The political and economic advantages of training the population
for new employment were considered worthwhile targets, so the budgetary deficits associated with
substantial public investments in human resources and physical infrastructure were tolerated.

The long and arduous transition to sustainable employment has prompted calls to back out
of globalization agreements. This is misplaced because it is impossible to retain jobs that are
better done elsewhere without investment. That would be a step toward a world where suffering is
globalized. There is thus no alternative to a proactive government that eases the transition to new
jobs in rich countries.

Asia had the advantage of preparing its work force for known job streams. Rich countries,
on the other hand, have to discover new productive jobs. However, we do know that discovery is
more likely if education standards improve, physical infrastructure is cutting edge, and science and
research are well-funded. Rich countries don't have to give up on manufacturing as a source of
employment.

Asia has been a beneficiary of economic globalization as evident in the rapid economic
growth of a number of large Asian countries in the past three decades.

Asian globalization with deep historical roots may be viewed as a contributor to the
processes of globalization, the present chapter examines the process of globalization in Asia
historically arguing that Asian globalization is likely to reshape and broaden the very idea of
globalization. In this chapter, a comprehensive view, that is, a thick theory of globalization is
presented, which is entangled, embedded, and contingent.
 Population growth and development contribute many environmental problems in Asia.
These include pressure on the land, habitat destruction and loss of bio-diversity, water scarcity
and water pollution, air pollution, global warming and climate change.

Projections of future resource requirements and environmental stress are worrying, wether
the focus is on the population numbers alone or on the effects of poorly planned economic
development and changing consumption pattern.