Global North Global South
Global North Global South
Global North Global South
‘Seems like a textbook example of ethnic cleansing’ – John Johnson, Newser Staff
GLOBAL NORTH GLOBAL SOUTH
1. Home to all the members of G8 and 1. Africa, Latin America
to four of to five permanent
members of UN Security Council
2. United States, Canada, Western 2. Developing Asia, including Middle
Europe East
3. Developed parts of Asia Australia
and;
4. New Zealand
ASIAN REGIONALISM
Towards Asian Regionalism
The center gravity of the global economy is shifting to Asia. The region’s economy is
already similar I size to those Europe and North America, and its influence in the
world continues to increase.
Regionalism is relatively new aspect of Asia’s rise. Asia’s economies are increasingly
connected through trade, financial transactions, direct investment, technology, labor
and tourist flows, and other economic relationships.
HOW CAN REGIONALISM BENEFIT ASIA?
Link the competitive strengths of its diverse economies
Connect the region’s capital markets to enhance financial stability, reduce the cost
of capital, and improve opportunities for sharing risks;
Cooperate in setting exchange rate and macroeconomic policies
Pool the region’s foreign exchange reserves to make more resources available for
investment and development;
Exercise leadership in global decision making
Build connected infrastructure
Create regional mechanisms
HOW CAN ASIA REGIONALISM BENEFIT THE WORLD?
Generate productivity gains, new ideas, and competition
Contribute to the efficiency and stability of global financial markets
Diversity sources of global demand
Provide leadership
Create regional mechanism
While Asian Regionalism is primarily motivated by the desire to advance welfare in the
region, it would not do so by detracting from development elsewhere. On the contrary,
Asian regionalism can help sustain global economic progress at a time when other major
regions are reaching economic maturity.
THE ECONOMICS OF ASIAN REGIONALISM
The economics of regionalism have a complex and troubled history. In the 1930s,
countries created preferential trade blocs in an attempt to shelter their economies
from the Great Depression.
Many economists and policy makers remain skeptical about regionalism because of
its potentially negative impact on the multilateral trade and financial system
Regionalism must not lead to protectionist blocs – a “fortress Asia” is no more
desirable than a “fortress Europe” or a “fortress North America” would be