Globalization and the Asia Pacific Economy

Globalization and the Asia Pacific Economy

Globalization and the Asia Pacific Economy

Globalization and the Asia Pacific Economy


The twenty-sixth Pacific Trade and Development Conference (PAFTAD 26) was held 14-16 June in Seoul. The theme of the conference was globalization in the new millennium and its impact on the Asia Pacific economy. The conference explored four important aspects of globalization and its effects: the relationship between globalization and the financial crisis in East Asia; the reaction to globalization in East Asian and Pacific economies; optimal policy strategies to reap the benefits and avoid the costs of globalization; and the challenges and opportunities globalization presents for the management of the international economy. The following volume includes seventeen chapters that review and explore these themes.

PAFTAD 26 provided a very valuable opportunity to evaluate the benefits and risks of globalization and to assess how national economies in the Asia Pacific region have responded, and should respond, to these trends. The collection of papers in this book make this evaluation available to a wider audience. I am especially grateful to the authors of these papers and also to the discussants and participants without whose contributions this work would not have been possible.

The management of the conference and preparation of the manuscript for publication relied on the generous efforts of the staff of the Korea Institute for International Economic Policy (KEIP), the Korea Committee for the Pacific Economic Cooperation Council (KOPEC) and the International Secretariat of PAFTAD at the Australian National University. Funding for the project was provided by the Asia Foundation, the Ford Foundation, the Australian National University, the University of Toronto, Victoria University BC, the Taiwan Institute for Economic Research, the Korea Member Committee of the Pacific Basin Council, the National Centre for Development Administration (Thailand), the Centre for Strategic and International Studies (Indonesia), the Japan Federation of Economic Organizations (Keidanren), Seoul National University, KIEP and KOPEC. I am most grateful for all this assistance.

I hope that publication of these proceedings will contribute to further discussion of the impact of globalization and serve as a useful reference to those with interest and responsibility in its management. May I extend my special thanks to Mikaela Wilson, Matthew May, Tom Robinson and other staff at the Australian National University for their work on the manuscript and in producing the book.

Kyung Tae Lee

Seoul, June 2001

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