Meteoric Rise of the East Asian Realm in the Global Economy

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World Regional Geography
Meteoric Rise of the East Asian Realm in the Global Economy
The meteoric rise of the East Asian realm in the global economy took multiple decades of transformation. Japan among different countries of the world was among one of the first countries that emerged as a global economic hub for many developed nations like the United Kingdom and Germany. The growth of the global network of Japan played a vital role in its economic growth and development. As economies grow, they gain a couple of economic benefits. In the case of Japan, the global network allowed the country to acquire commodities like natural gas, oil, chemicals and iron ore. With time as the populations started to modernize and urbanize globally, the Japanese launched their products into global markets. The Japanese government focused on technology, consumer electronics and automobiles products so that the maximum market share can be captured (Liu and Liu 972). This strategy of Japan proved to be successful as the country emerged as a technology leader and industrial giant. The strategy adopted by Japan was replicated by Singapore, Taiwan, South Korea and Hong Kong, which contributed to the rise of industrialization in these countries. The increase in export processing hubs and foreign investment played a significant role in the economic growth of these countries. The formation of central governments and market liberalization policies these Asian countries were able to align their products with the Western markets. Another country China contributed to the rise of East Asian realm by establishing one of the world’s most significant manufacturing sectors. The Chinese government took steps for creating an ideal environment for skilled labour, foreign investment and reliable infrastructure (Berglee 732). Furthermore, a multi-level system was developed for attracting foreign investment by relaxing export regulations and taxation policies.
Internal Tension and Issues. The political issues present between two major Asian countries like Japan and China created tension in the region. The Sino-Japanese dispute present among the two countries on Senkaku Island created political unrest in the region. Japan captured the uninhabited island of China during 1895, which China claims as its region (Bisley 266). This disputed territory has resulted in a war between the two countries and economic turmoil.
China has raised its voice against North Korea’s nuclear weapons technology and missiles. Besides, South Korea and Japan are raising their concerns about the underground tests conducted by North Korea. This issue has resulted in creating tension in the East Asia region (Foot & Goh 399). China supports the denuclearization of North Korea, along with the United States of America as it will contribute towards the destabilization of the East Asia region (Shambaugh 86). The nuclear missile technology of North Korea poses a serious threat to the national defense and security of China. Therefore, Beijing supports the de-weaponization of North Korea in multiple phases so that peace can be established in the region.
The maritime disputes and territorial disputes present in the East Asia region are unlikely to be resolved in the coming decade. There is a strong possibility that the tension may escalate between the disputed partners (Liu 152). The support and assistance provided by the United States to Japan and South Korea are creating tension in the region. The escalation of tension in the region can result in lower investment and economic uncertainty in the region. The internal tensions and issues that have accompanied this economic transformation and is affecting the region in both a positive and negative way.
Southeast Asia
The Southeast Asia region has been the epicenter of China and U.S. power competition. The other countries of the world like Japan and India are also competing to gain influence in the region. The approach adopted by the leading players of the region will determine the future of Southeast Asia.
Chinese Influence on Southeast Asia. China is a major powerhouse of the region and enjoys this position because of its economic engagement, diplomacy and security matters. The other players, like the United States, Europe, Japan and India, have their political and economic interests in the region. The trend of China’s dominance in the region began during the Mao Zedong era as the Chinese provided support for developing countries solidarity and communist insurgencies. China adopted a constructive policy for normalizing relation within the region. After the Mao Zedong era, a series of reforms dominated the region (Gong 636). Tiananmen Square massacre event influenced the introduction of many reforms for stabilizing the region. In the last five decades, China has emerged as the major trade force in the region. China’s economy is booming and is considered as the largest economy in the Association of Southeast Asian Nations (ASEAN). During the last 25 years, China has been deeply involved in diplomatic activities of the region. China has developed very close relationships with different states of the region like Singapore, Cambodia, Philippines and others. China’s focus is on strengthening its diplomatic and economic influence in the region.
Geopolitical Ramifications of Chinese Influence in Southeast Asia. China’s trade and economic ties for the last 20 years have expanded. Beijing uses overseas development aid (ODA), trade and investment as inducements on economically weak nations. In the last ten years, Beijing has used its influence for punishing the countries that are not willing to provide outstanding support to China. For instance, China imposing restrictions on Japan’s earth exports during the year 2010 in a reaction to the maritime incident. Apart from this incident, China decided to suspend its export ties with Philippine temporarily as Philippine decided to proceed with the legal case related to the South China Sea. China punished France by cancelling its contract of Airbus with France as France decided to host Dalai Lama. China uses its economic diplomacy to its advantage and downplaying the countries that refuse to provide support to China. This approach of China is not suitable for the region as it creates unrest among the nations present in the country that does not agree with Beijing’s policies (Zhang 198). The leadership of China should contemplate on all the factors in formulating a long-term policy for the region. The adaptation of a balanced approach can be useful for the entire region as every country present in the region has its due rights. China is negatively using its position and influence to overpowering its opponents. The focus of China is on maintaining its influence in the region and achieve economic prosperity. The current strategic position adopted by China is harming Southeast Asia.
Australasia
The Australasia region consists of New Zealand, neighbouring islands and Australia. The Australasia can be used in different contexts like ecologically, geopolitically, and physio geographically. The Australasia region holds significance for the investors and businesses as it is the primary hub for generating high revenue. The businesses and investors around the world prefer to invest in the Australasia region because of the biodiversity of the area.
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