FINANCIAL GLOBALIZATION
BILORUS Oleh 1, VLASOV Volodymyr 2
1Institute for Economics and Forecasting of the NAS of Ukraine
OrcID ID : https://orcid.org/0000-0003-0731-5649
2National Scientific Agricultural Library of the UAAS
Asiatic financial and trade expansion and Asian network globalism with Japanese-Chinese specificity
The article deals with the problems of creating regional associations of countries on the example of the Asian continent with an assessment of the evolution of the concept of ‘integration’ from primary as a combination of separate parts into a single whole to modern as a combination of countries with a single economic policy, which ensures the fusion of economic complexes with the formation of a regional economic system. The authors outline the factors that ensure the intensity of development of global and regional integration are described, as well as the actors contributing to the achievement of the efficiency of international regional economic integration with the destinguishing in the historical aspect of several stages of integration processes. It is stressed that the development of the Asian continental economy was largely due to the rapid increase in the volume of international trade in goods. The development of the economy and trade of two powerful trade and economic associations – ASEAN and APTA, as well as changes in the trade balance and investment volumes are analyzed. The research shows that an increase in GDP in each country and in associations as a whole suggests that the ASEAN GDP has grown by 274 %, in APTA, where the main engines are China and India, – by 652 %. It is noted that the export of goods for 1995-2014 in ASEAN grew fourfold, in Asian countries it increased twelve-fold, thus proving the giant growth of Asian regional economies. At the same time, the share of ASEAN in world exports has increased, but in terms of imports, on the contrary, has decreased. Another trends are observed in APTA: the flow of exports to developing countries has increased most (13 times) with a tenfold growth for association, imports have increased most of all from transitive countries (21 times) and from Asian countries (15 times).
Keywords:regional integration, international trade, export, import, developed countries, the Asian continent, trade associations, trade balance
JEL: F02, F15, F21, F63, O53
Bilorus O. . Asiatic financial and trade expansion and Asian network globalism with Japanese-Chinese specificity / O. . Bilorus, V. Vlasov // Фінанси України. - 2019. - № 2. - C. 7-19.
| Article original in Ukrainian (pp. 7 - 19) | Download | Downloads :243 |
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