The Impact of the Economic Crisis on East Asia

2011 ◽  
Author(s):  
Daigee Shaw ◽  
Bih Liu
Keyword(s):  
The Winners ◽  
2008 ◽  
Vol 9 (2) ◽  
pp. 180
Author(s):  
Adrian Hidayat

No economies throughout the region managed to escape from the "global economic crisis in 2008" that was initiated in the United States. This is a logical consequence of the global economy that has been rolling along. The world economy is increasingly becoming more integrated and interdependent with one another. Exposure stems from the economic crisis in the prolonged United States subprime mortgage financial crisis, and eventually dragged the European economy, and also Asia. The Asian region was only affected, but even if only the impact of course, was enough to overwhelm the Asian region since the crisis has a major impact on a country's foreign exchange reserves. Therefore, after the G-20 summit held in Washington on November 15, 2008, the three major Asian countries, namely China, Japan and South Korea held a summit in Fukuoka Japanese initiative, which was attended by the three heads of government. This summit was to bring fresh air for the Asian region, because in addition to having a positive impact on Asian stocks, it also provides a new self confidence that Asia has formed an alliance that would at least fortify themselves (region) with the resulting stimulus policy. This initiative to find a solution is eventually expanded, and was welcomed by ASEAN countries, known as ASEAN Plus Three. Since in Asia there is already the East Asia Summit (East Asia Summit), the negotiations and the name of the group changed into the 6 partner countries of ASEAN. These six countries are Japan, China, South Korea, Australia, New Zealand, and India.


2017 ◽  
Vol 14 (02) ◽  
pp. 103-110
Author(s):  
S. Tomassi ◽  
M. Ruggeri

Summary Background: The global crisis that began in 2007 has been the most prolonged economic recession since 1929. It has caused worldwide tangible costs in terms of cuts in employment and income, which have been widely recognised also as major social determinants of mental health (1, 2). The so-called “Great Recession” has disproportionately affected the most vulnerable part of society of the whole Eurozone (3). Across Europe, an increase in suicides and deaths rates due to mental and behavioural disorders was reported among those who lost their jobs, houses and economic activities as a consequence of the crisis.


2009 ◽  
pp. 54-69 ◽  
Author(s):  
A. Shastitko ◽  
S. Avdasheva ◽  
S. Golovanova

The analysis of competition policy under economic crisis is motivated by the fact that competition is a key factor for the level of productivity. The latter, in its turn, influences the scope and length of economic recession. In many Russian markets buyers' gains decline because of the weakness of competition, since suppliers are reluctant to cut prices in spite of the decreasing demand. Data on prices in Russia and abroad in the second half of 2008 show asymmetric price rigidity. At least two questions are important under economic crisis: the 'division of labor' between pro-active and protective tools of competition policy and the impact of anti-crisis policy on competition. Protective competition policy is insufficient in transition economy, especially in the days of crisis it should be supplemented with the well-designed industrial policy measures which do not contradict the goals of competition. The preferable tools of anti-crisis policy are also those that do not restrain competition.


2020 ◽  
Vol 8 (3) ◽  
pp. 3-17
Author(s):  
Elena Blagoeva

The impact of the last global economic crisis (2008) on the European economy put a strain on higher education (HE), yet it also pushed the sector towards intensive reforms and improvements. This paper focuses on the “Strategy for the Development of Higher Education in the Republic of Bulgaria 2014-2020”. With a case study methodology, we explore the strategic endeavours of the Bulgarian government to comply with the European directions and to secure sustainable growth for the HE sector. Our research question is ‘How capable is the Bulgarian HE Strategy to overcome the economic and systemic restraints of Bulgarian higher education?’. Because the development of strategies for HE within the EU is highly contextual, a single qualitative case study was chosen as the research approach. HE institutions are not ivory towers, but subjects to a variety of external and internal forces. Within the EU, this is obviated by the fact that Universities obtain their funds from institutions such as governments, students and their families, donors, as well as EU-level programmes. Therefore, to explore how these pressures interact to affect strategic action on national level, the case method is well suited as it enabled us to study the phenomena thoroughly and deeply. The paper suggests the actions proposed within the Strategy have the potential to overcome the delay, the regional isolation and the negative impact of the economic crisis on the country. Nevertheless, the key elements on which the success or failure of this Strategy hinges are the control mechanisms and the approach to implementation. Shortcomings in these two aspects of strategic actions in HE seem to mark the difference between gaining long-term benefits and merely saving face in front of international institutions.


2018 ◽  
Vol 8 (2) ◽  
pp. 51-74
Author(s):  
Fonteh Athanasius Amungwa

This paper examines the impact of community education and challenges facing Centres for Education and Community Action as a rural development strategy in Cameroon. The study was conducted in the North-West Region of Cameroon, employing field observations, semi-structured interviews with key informants using a convenient sampling technique and through elaborate review of documents. These research instruments were blended into what is termed triangulation and the data collected was analysed descriptively. The main focus of qualitative analysis is to understand the ways in which people act and the accounts that people give for their actions. This paper posits that extreme dependence on the provision of Western formal education cannot solve the problems of a rapidly changing society like Cameroon, which is facing a long-term economic crisis and persistent unemployment issues of graduates. Consequently, education should be redefined in the context of the prevailing economic crisis to make it responsive to the aspirations of rural communities. Findings showed that community education had contributed towards rural development immensely but has suffered many challenges due to neglect of the field in the policy agenda. This paper recommends the integration of community education with formal education to facilitate group and community betterment in particular and rural transformation in general.


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