scholarly journals Regionalization of the world as the key to sustainable future

2020 ◽  
Vol 166 ◽  
pp. 13016 ◽  
Author(s):  
Svitlana Radziyevska ◽  
Ivan Us
Keyword(s):  
Regional Integration ◽  
Global Economy ◽  
Developed Economies ◽  
Eu Integration ◽  
Transatlantic Trade ◽  
Sustainable Future ◽  
The World ◽  
The Usa ◽  
Economic Partnership ◽  
Regional Comprehensive Economic Partnership

Globalization is viewed not only as the objective, but also as the subjective process, the current version of which requires adjustments since it is characterized by the increasing inequalities and instability, causing conflicts worldwide, pushing regional groups towards confrontations. Globalization is to be directed for achieving the equitable levels of development across the globe for which it is suggested to establish the situational governing board as the common platform for collaboration between the regional blocs for global economy regulation. The notions of the regional state and the global/planetary state are introduced. The interdependence between regionalization and globalization is thoroughly analysed, which results is the explanation of the logic behind the process of the multipolar world formation as opposed to the unipolar one. The main points are illustrated by the facts from the EU integration history, WTO practice, the calculated indicators of the major thirteen regional integration groupings covering Europe, Asia, North, South America, Africa, two transregional organizations Regional Comprehensive Economic Partnership, Transatlantic Trade and Investment Partnership, as well as the USA, Developed economies of Europe, China. The contribution to the study of regionalism as the boosting phenomenon shaping the development of the world allowed to conclude that regionalization is critical for the sustainable future of the world.

IS THE �ASEAN ECONOMIC COMMUNITY� UNDERSIEGE? The New Trajectory of the Asean Economic Community the two Mega- Regional Agreements; �RCEP� and �TPP�

2017 ◽  
Vol 7 (1) ◽  
pp. 29-42
Author(s):  
Indra Kusumawardhana ◽  
Jeremiah Daniel
Keyword(s):  
Regional Integration ◽  
Global Economy ◽  
Global Capitalism ◽  
Economic Community ◽  
Great Achievement ◽  
Regional Agreements ◽  
Economic Partnership ◽  
Asean Economic Community ◽  
Regional Comprehensive Economic Partnership ◽  
Use Dependency

The ASEAN Economic Community (AEC) was signed by the leading nations of Southeast Asia in Kuala Lumpur on 31, December 2015. This was a great achievement of regional integration, pointing members of the AEC towards a single market awakening. Despite this tremendous progress, the reality is that ASEAN members are now involved in two mega-regional agreements. One, which has the potential to protect ASEAN centrality, ASEAN+6 or the Regional Comprehensive Economic Partnership (RCEP); and the other, the US-ledTrans-Pacific-Partnership Agreement. This participation by ASEAN members with various economic partners outside ASEAN may result in dependency to global capitalism networks.Departing from the above mentioned context, the core question then arises: Has the global economic structure provide an opportune precondition for the implementation of the ASEAN Economic Community (AEC)? To tackle this question, this essay will use Dependency Theory to analyze the global economicstructures which encase the AECs regional economic integration agenda and to reveal the ASEAN members dependence on global capitalism. This essay explores both the attempts of the ASEAN framework to create a comprehensive economic community; and the consequences of ASEAN integration with two mega-regional agreements in the region. It is argued that the dependency of ASEAN members on the structure of the global economy proves that it does not provide a proper pre-conditioning for the AEC to be implemented. Moreover, it will be hegemonic factors that challenge the existence of the AEC.

scholarly journals Markets Matter: The Potential of Intra-Regional Trade in ASEAN and Its Implications for Asian Regionalism

2017 ◽  
Vol 16 (2) ◽  
pp. 1-19 ◽  
Author(s):  
Lurong Chen ◽  
Philippe De Lombaerde ◽  
Ludo Cuyvers
Keyword(s):  
Economic Integration ◽  
Regional Integration ◽  
Quantitative Assessment ◽  
Regional Trade ◽  
The World ◽  
Asian Regionalism ◽  
Economic Partnership ◽  
Asean Countries ◽  
Regional Comprehensive Economic Partnership

This paper attempts to shed new light on further deepening the economic integration process in Southeast Asia using a quantitative assessment of the potential for further developing intra-regional trade. It is evident that ASEAN's export space is expanding faster than the world average and that there is still room for ASEAN countries to further develop the role of their intra-regional trade. To improve its export potential, ASEAN should liberalize trade not only intra-regionally but also globally. It could be in ASEAN's interest to accelerate the pace of regional integration under frameworks that involve the participation of non-ASEAN countries, especially an ASEAN Framework for Regional Comprehensive Economic Partnership.

scholarly journals Transregionalism and fictive capital

2019 ◽  
Vol 135 ◽  
pp. 04033
Author(s):  
Daria Dinetc ◽  
Mikhail Konotopov
Keyword(s):  
Circulation Model ◽  
Global Finance ◽  
Financial Flows ◽  
Russian Economy ◽  
Transatlantic Trade ◽  
The World ◽  
Economic Partnership ◽  
Regional Comprehensive Economic Partnership ◽  
Trade And Investment ◽  
Practical Recommendations

A relevance of research is recent trend in regrouping forces in the global financial arena with transregional unions based on fictive capital’ expansion. The objective of this research is revisal of transregional integration conditions by the analysis of modern geopolitical aims of the world financial system’s leaders and also it is practical recommendations forming to prevent the Russian economy trapping by the fictive capital of transregional unions. It has been shown that the global finance circulation model is drastically changing - trade and economic unions like the Regional Comprehensive Economic Partnership or Transatlantic Trade and Investment Partnership are aimed at forming the markets for goods, works and services produced in countries, which have been proclaimed as the world financial centres. That politics doesn’t allow to develop industry and it arrive to financial bubbles at branches of economy, which are cooperated with transregional financial flows. For the leaders of transregional groups, it’s a way to solve geopolitical problems with financial methods shifting responsibility for their mistakes in industrial policy. There are significant features of the east and west leaders dominance in transregional unions in the article. These are respectively hub infrastructure dependence and currency speculations. The conclusion is it should be formed a secured non-speculative currency in transregional union for geopolitical dependence eliminate. Besides the only reason for infrastructure international project realize could be an economic efficiency. These conclusions are very important for the modern stage of the globalization.

scholarly journals Impact of Regional Comprehensive Economic Partnership (RCEP) on Households’ Income and Factors’ Returns in Pakistan: A Global CGE Approach

2017 ◽  
pp. 88-109
Author(s):  
Naseeb Zada Et al.,
Keyword(s):  
Regional Integration ◽  
Computable General Equilibrium ◽  
Developing Economies ◽  
Policy Instrument ◽  
Adverse Impact ◽  
Model Framework ◽  
The World ◽  
Economic Partnership ◽  
The Government ◽  
Regional Comprehensive Economic Partnership

As regional integration has proliferated in most parts of the world, so developing economies across the globe have made it a leading policy instrument to integrate their economies with the global markets and rest of the world through the instrument of trade liberalization. This has led to the establishment of various mega global integrations. Regional Comprehensive Economic Partnership (RCEP) is an example of these global integrations. Currently Pakistan is not part of RCEP, which is likely to be adversely affected due to the expected trade diversion. This paper investigates the possible adverse impact of RCEP on households’ income and real factors’ returns in Pakistan using the MyGTAP model in the global Computable General Equilibrium (CGE) model framework. The results of simulation intimate that the overall impact of RCEP on the economy of Pakistan (as outsider) is negative. There is an overall decrease in real income of all types of households and factors’ returns. Khyber Pakhtunkhwa and Baluchistan may reveal the largest decrease in households’ income. The possible decrease in income may be higher for urban households and non-farm rural households as compared to farmers and farm workers. Additionally, Pakistan is adversely impacted in terms decrease in real GDP, real exports, and imports and also decrease in most of the sectorial exports, sectorial imports and sectoral output. Keeping in view the research findings, this study suggests to the government to undertake remedial measures in advance to avoid the possible adverse impact of RCEP on the economy of Pakistan.

Újabb megaregionális szabadkereskedelmi egyezmény: az Átfogó Regionális Gazdasági Partnerség (RCEP)

Külgazdaság ◽  
2021 ◽  
Vol 65 (3-4) ◽  
pp. 69-89
Author(s):  
György Csáki
Keyword(s):  
World Trade Organization ◽  
World Trade ◽  
Transatlantic Trade ◽  
Economic Partnership ◽  
Regional Comprehensive Economic Partnership ◽  
Trade And Investment

A tanulmány célja a közelmúltban aláírt Regionális Átfogó Gazdasági Partnerség- (Regional Comprehensive Economic Partnership – RCEP) egyezmény bemutatása és elemzése. A tágan értelmezett előzmények között röviden ismerteti a Transzatlanti Kereskedelmi és Befektetési Partnerség (Transatlantic Trade and Investment Partnership – TTIP), a Transz-csendes-óceáni Partnerség (Trans-Pacific Partnership – TPP) és az Átfogó és Előremutató Csendes-óceáni Partnerség (Comprehensive and Progressive Agreement for Trans-Pacific Partnership – CPTPP) létrejöttének körülményeit is. Ezek a törekvések elválaszthatatlanok attól a ténytől, hogy a Kereskedelmi Világszervezet (World Trade Organization – WTO) 1995. évi megalapítása óta képtelen volt bármilyen fontos sokoldalú megállapodás elérésére, a Vitarendezési Testület tagjainak elmaradt jelölése következtében immár teljesen működésképtelenné vált. Az RCEP (a CPTPP-vel együtt) Ázsia és a csendes-óceáni térség további felértékelődését, ugyanakkor az USA befolyásának gyengülését jelzi a régióban.

scholarly journals Consequences appraisal on India’s opting out of the Regional Comprehensive Economic Partnership Agreement

2021 ◽  
pp. 129-134
Author(s):  
L. N. Talalova ◽  
Chu Thanh Hang ◽  
A. V. Morozova
Keyword(s):  
World Economy ◽  
The Political ◽  
Third Place ◽  
Opting Out ◽  
Economic Context ◽  
The World ◽  
Economic Partnership Agreement ◽  
Economic Partnership ◽  
Partnership Agreement ◽  
Regional Comprehensive Economic Partnership

The political and economic context for India based on the results of the Regional Comprehensive Economic Partnership Agreement (RCEP) signed in November 2020 is considered. The benefits of strengthening economic cooperation for the participating countries from its signing are characterized. The hypothetical advantages for India in the case of its entry into RCEP are analyzed. In connection with country’s opting out of RCEP the authors have highlighted three segments of reasons for studying (political, legal and economic) that caused such India’s decision. Among the political reasons for India’s opting out of RCEP the problem of the Indo-Chinese border conflict over disputed territory escalating is emphasized. Among the legal reasons that determined opting out of the treaty, the issues of investment policy and intellectual property outside the World Trade Organization frameworks are noted. The economic reasons offset the benefits of RCEP for India are investigated. The connection between all three segments of causes is demonstrated. The experts’ forecasts is evaluated for India’s entry into third place in the world economy in terms of the gross domestic product contribution and the prerequisites for this are studied. It is concluded about the possibility of achieving the goal if a number of conditions are met and a set of necessary measures is carried out.

scholarly journals The Importance Of SMEs On World Economies

2019 ◽  
Author(s):  
Murat Bayraktar ◽  
Neşe Algan
Keyword(s):  
Economic Growth ◽  
Development Strategy ◽  
Global Economy ◽  
World Economy ◽  
Poverty Reduction ◽  
National Development ◽  
Business Sector ◽  
Developed Economies ◽  
Turn On ◽  
The World

The importance of SMEs to world economies is well reported. SMEs (firms with 200 or less employees) construct the biggest business sector in each global economy therefore governments around the world are increase the effort to promote and support SME expansion as their national development strategy. Micro firms and SMEs are forming the majority of firms in most countries (which 95% on average) and for the large majority of jobs. While SMEs are dominating of very great numbers, SMEs are significant due to their importance as priority drivers to employment, economic growth and innovation. According to the World Trade Organization SMEs represent over 90% of the business population, 60-70% of employment and 55% of GDP in developed economies. SMEs held for around 20% of patents, one measure of innovation, in biotechnology-related fields in the Europe. As the world economy faces with prevailing challenges, governments increasingly start to turn on SMEs as a significant element of sustainable and inclusive economic growth. The importance of SMEs to; economic growth, poverty reduction, innovation and job creation also social cohesion are major key.

Transforming the world order amid the emerging multipolarity: Evidence from the African continent

2020 ◽  
Vol 16 (11) ◽  
pp. 2180-2198
Author(s):  
A.M. Chernysheva
Keyword(s):  
South Africa ◽  
Foreign Trade ◽  
Global Economy ◽  
World Order ◽  
Development Trend ◽  
Economic Security ◽  
Sub Saharan Africa ◽  
The World ◽  
The Usa ◽  
Sub Saharan

Subject. As the world becomes more multipolar, global leaders change their approaches to capture the areas they dominate. Currently, advocates of the Western and Eastern models clash, with the latter demonstrating a greater efficiency. Objectives. I examine the foreign trade of the countries in Sub-Saharan Africa, including South Africa, assuming that the region's countries are teetering on the edge of the Western and Eastern approaches to determining the domination area of the leading country. Methods. The study is based on the systems approach, comparative and statistical methods for reviewing exports and imports of Sub-Saharan Africa, illustrating the case of South Africa. Results. As the global economy currently develops, the multipolar world and its emergence are showed to gain momentum, with Sub-Saharan Africa actively diversifying their foreign trade. I mention the way the USA, EU, China, India and Russia influence the region and evaluate development trends in south Africa's exports and imports, setting their further development trend. Notwithstanding the noticeable impact of the USA, Sub-Saharan Africa establish regional alliances and tend to follow the course of other States, with China becoming increasingly important. Conclusions and Relevance. Transforming the world order into the multipolar format, the third-world countries should diversify their foreign trade, following multiple vectors in their economic policy, thus ensuring their own economic security and an opportunity to raise their significance regionally and internationally.

28. Global trade and global finance

2016 ◽  
Author(s):  
Matthew Watson
Keyword(s):  
Global Economy ◽  
The United States ◽  
Global Trade ◽  
The European Union ◽  
Global Finance ◽  
Occupy Movement ◽  
Transatlantic Trade ◽  
The World ◽  
Trade And Investment ◽  
Global Economic Governance

This chapter explores important issues in the conduct of global trade and global finance. It asks why the global economy is so good at allowing some people to own untold riches while many others have too little money to meet basic subsistence needs, and whether the world would be better or worse off without the institutions of global economic governance. After discussing the globalization of trade and finance, the chapter considers the regulation of global trade and global finance. Two case studies are presented, one dealing with comparative advantage theory in historical perspective and the other with the Occupy movement. There is also an Opposing Opinions box that addresses the question of whether the Transatlantic Trade and Investment Partnership between the United States and the European Union will provide enhanced opportunities for economic development around the world in a way that the World Trade Organization system now cannot.

scholarly journals Cross-Strait Relations and Regional Integration: A Review of the Ma Ying-jeou Era (2008–2016)

2017 ◽  
Vol 46 (1) ◽  
pp. 11-35 ◽  
Author(s):  
Tung-chieh Tsai ◽  
Tony Tai-ting Liu
Keyword(s):  
Regional Integration ◽  
Mainland China ◽  
Trade Agreements ◽  
The Political ◽  
Framework Agreement ◽  
Political Problem ◽  
Economic Partnership ◽  
Political Differences ◽  
Regional Comprehensive Economic Partnership ◽  
Future Status

Despite the signing of the Economic Cooperation Framework Agreement (ECFA) between mainland China and Taiwan in 2010, Taiwan's future status in the field of Asian regional integration remains unclear. While Taiwan remains outside the Trans-Pacific Partnership (TPP) and the Regional Comprehensive Economic Partnership (RCEP), China's rise and continued expansion in regional integration put increasing pressure on Taiwan to confront its political differences with China. This paper discusses the interconnection between regional integration and cross-Strait relations and seeks to address the implications such linkage entails. The authors note the exploitation of a two-pronged strategy by Beijing to pressure Taibei into confronting the political problem between China and Taiwan. In addition, the authors assess Taiwan's performance in terms of its progress in the establishment of preferential trade agreements (PTAs) from 2008 to 2016 under the Ma Ying-jeou (Ma Yingjiu) administration and identify the hurdles and prospects for Taiwan's future integration efforts. This paper concludes with a brief consideration of Taiwan's New Southward Policy.

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