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East Asian Globalisation

            "East Asia has both greatly benefited and greatly suffered from the effects of globalisation.
             During the post-war period of the 1950s, the East Asian region was considered to be part .
             of the third world with international agencies holding pessimistic views over the potential .
             for growth and development in the region. However, contrary to these views, the East .
             Asian region has experienced extremely rapid growth and development which.
             surpassed all expectations and eclipsed those growth rates of neighbouring developed .
             nations. This highly unexpected rapid economic growth has been the trigger for much .
             analytical interest attempting to explain the various causes of the phenomenon that was .
             the economic miracle. A big part of this occurrence can be argued to be in part due to the opportunity of globalisation that these nations seized in order to compete on a more international as opposed to regional scale. Hence, throughout this discussion, I am going to attempt to examine the different areas that aided East Asian globalisation and how these areas also created obvious drawbacks and sufferings for the nations involved. The topics which I am encouraged to discuss under this heading of globalisation are: physical investment and Multi-National Corporations, trade through export-orientated industrialisation, monetary investment, currency and foreign exchange and finally the debate over whether it was developmental statism or neo-liberalism that most encouraged this rapid growth through globalisation .
             Certain types of physical investment occurred which formed as an important part in globalising the East Asian region. Much of this was down to FDI (Foreign Direct Investments) and through the international distribution of MNCs (Multi-National Corporations). Starting with Japan, the appreciation of the yen after the Plaza agreement of September 1985 led to Japan's rapid increased FDI in East Asian Countries.

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