The current economic crisis has called into question the long term viability of the decoupling between multinational firms and the banking system. It has also cast serious doubts on the US dollar-centred monetary system, and invited reassessment of the long term viability of US-China economic relations based on a US current account deficit absorbed by Chinese financial institutions. It is also an opportunity to analyse the rise in property prices, particularly in fast-growing economies. Long term food security is also an issue, bringing to the fore the multinational firms from emerging economies (such as China and India) and calling into question the response strategies of multinational firms from the West and Japan. This book engages these key issues within the broad theme of integration, to give an up-to-date consideration of the subject, opening debate on the future stimulating role that Asia could play vis-Ã -vis the West, particularly the European Union.
Bernadette Andreosso-O'Callaghan, Director, Euro-Asia Centre, Associate Professor (and Jean Monnet Professor of Economics), University of Limerick, Ireland and M. Bruna Zolin, Professor of Economics, University of Ca' Foscari, Italy
'In the wake of the current global financial crisis this multidisciplinary study examines growing Asian economic integration fuelled increasingly by intra-regional trade and investment and contrasting with the institutional mechanism led EU. Chapters highlight the paramountcy of China, the source of a potential reserve currency replacing the US dollar. This book will prove an invaluable reference source for policymakers, scholars and business practitioners alike.' Robert Taylor, University of Sheffield, UK