1771. Open Regionalism: Lessons from Latin America for East Asia
- Author:
- Clark Winton Reynolds
- Publication Date:
- 08-1997
- Content Type:
- Working Paper
- Institution:
- Kellogg Institute for International Studies
- Abstract:
- The process of regional integration is part of the reshaping of the international economic order at the end of the 20th century. Much if it is impelled by raw market forces, or what one may term 'silent integration.' In this process the increasingly liberalized movement of goods and services, factors of production (capital, technology, and labor through migration and as embodied in trade in goods and services), and tastes offers new prospects and challenges. There are opportunities for major increases in income and wealth for the most intrepid, skilled, mobile, and aggressive participants in the process. There are threats of lost income, power, prestige, values, and institutions for those left behind. There is a need to go behind the impulse of market forces, taking advantage of their dynamic but finding ways to manage interdependence so as to best reconcile differences among social groups, institutions, and values to ensure that the process of liberalized exchange produces gains that are equitable, stable, and sustainable.
- Topic:
- Economics, International Organization, and International Political Economy
- Political Geography:
- Israel, East Asia, South America, and Latin America