The Asian Economy : Contemporary Issues and Challenges book cover
1st Edition

The Asian Economy
Contemporary Issues and Challenges

ISBN 9780367203719
Published July 31, 2020 by Routledge
290 Pages 65 B/W Illustrations

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Book Description

The book is a key reading which provides a comprehensive and systematic overview of the contemporary Asian economy.

The book focuses on the structural changes that are rapidly transforming the regional economic landscape in the 21st century. It highlights the concomitant challenges that have arisen, and further discusses prospects and potentialities of Asian economies given this new economic environment. The book also looks at broader social issues that are both the cause and result of these new and complex economic dynamism in Asia. Understanding the Asian economy cannot be achieved without understanding the new interrelationships and complexities that have evolved from this context, which continue to be driven by drastic changes in technological, demographic, and social structures, among others.

Each of the chapters are titled based on "issues" and are framed in present continuous tense, intended to capture and emphasize the progressiveness of this new dynamism that are transforming the region in a fundamental way.

Table of Contents

Introduction: the Asian economy in the Asian century

Tamaki Endo, Asei Ito, Keiichiro Oizumi, and Kenta Goto

Part I New dimensions of the Asian economy

1 Transforming Asia: how the Asian economy has been discussed

Asei Ito, Tamaki Endo, Keiichiro Oizumi, and Kenta Goto

2 Asianizing Asia: the rise of intra-regional trade and economic integration

Kenta Goto and Keiichiro Oizumi

3 China reshaping Asia: economic transition and the rise of an economic superpower

Asei Ito

Part II Borderless Asia

4 Factory Asia: global value chains and local firm development

Momoko Kawakami and Kenta Goto

5 Capital Asia: growth and capital flows

Fumiharu Mieno and Kenta Goto

6 Migrating Asia: labor mobility in an interdependent and connected world

Tomohiro Machikita

Part III Dynamic Asia

7 Innovating Asia: growth pattern changes in post-middle-income economies

Asei Ito

8 Urbanizing Asia: cities transforming into mega-regions

Tamaki Endo and Keiichiro Oizumi

9 Informalizing Asia: the other dynamics of the Asian economy

Tamaki Endo and Kenta Goto

Part IV Asia at a crossroads

10 Ageing Asia: from demographic dividend to demographic tax

Keiichiro Oizumi and Asei Ito

11 Unequalizing Asia: from poverty to inequality

Kunio Urakawa and Tamaki Endo

12 Environmentally challenged Asia: in the context of backwardness and diversity

Fumikazu Ubukata

Conclusion: competing Asia, co-existing Asia

Kenta Goto, Tamaki Endo, Asei Ito, and Keiichiro Oizumi

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Kenta Goto is Professor at the Faculty of Economics, Kansai University, and Senior Research Fellow at the Asia Pacific Institute of Research. His research interests include development, global value chains, and the informal economy. He obtained degrees from Keio University, Harvard University, and Kyoto University.

Tamaki Endo is Associate Professor at Graduate School of Humanities and Social Sciences at Saitama University. Her research interests include informal economy, urban development, inequality, and global value chain. She received her PhD in Economics from Kyoto University.

Asei Ito is Associate Professor at the Institute of Social Science, University of Tokyo. He obtained a PhD from the Graduate School of Economics, Keio University, Japan. His research covers Chinese industrial development, innovation, and outward FDI.


Goto, et al. fill a gap between what has been documented decades ago and the current reality of the Asian economy in the context of development economics. The authors are a group of well-trained Japanese economists with rich experience in fieldworks. The book is ideal to use as a textbook or a discussion material in both undergraduate and graduate classes. Academic scholars who would like to update their understanding on Asia as well as businesspersons and government officials who are keen to comprehend current Asia will find the book concise and insightful. Another Asian miracle is there.’Fukunari Kimura, Professor, Faculty of Economics, Keio University, Japan and Chief Economist, Economic Research Institute for ASEAN and East Asia (ERIA), Indonesia

The Asian Economy is an innovative and successful attempt to bring to a Western audience the results of extensive work by Japanese scholars on Southeast and East Asian development in the 21st century. Organised mainly in terms of regional themes, it draws on the expertise of eleven authors to cover topics including migration, global value chains, informalization, innovation, and the role of China in Asia. As a textbook it will be valuable for graduate students and advanced undergraduates, and also will be exceptionally useful for policy makers and academics interested in the region.’John Thoburn, School of International Development, University of East Anglia, Norwich, UK