The recent trends in the world economy, namely the US new administration policy, was resulting a leader who prefers protectionism in terms of trade agreements. The new paradigm of US leader has predicted implications for globalization trends as they can divert the trend of globalization and economic integration. East Asian economy has been in the pace of futher econimic integration. According to Organization for Economic Cooperation and Development-OECD (2009), protectionism has a high cost. By closing borders or otherwise restricting markets, consumers pay more, firms bear higher costs, and choise is limited. Global protectionism means job lesses, including in the relatively competitive export secto, to the longer term benefit of no one. Kawai (2016) has made the prediction that new US administrative policies will affect East Asia's economic field. Trade protectionsm can have a negative impact on economies in East Asia. He notes a possibility of trade war that could be highly counterproductive to the world, especially East Asia. This research will assess the impact of the predicted response of East Asian countries to this de-globalization trend using several economic indicators (correlation and regression analysis). This research finds the significance of world trade, FDI inflow, and East Asian intra-trade on East Asian national income and income per capita that a proxy for economic welfare. The importance of East Asian intra-trade provide optimism that even with declining world trade; East Asian could survive in maintaining the welfare and economic activities by boosting East Asian intra-trade and consistently working hard to sustain East Asia integration. Regional Comprehensive Economic Partnership (TPP) after US New Policy.
|Publication status||Published - 2017|
|Event||Fifth International Conference on Asia Studies 2017 - CA, Ottawa, Canada|
Duration: 1 Jan 2017 → …
|Conference||Fifth International Conference on Asia Studies 2017|
|Period||1/01/17 → …|
- East Asia integration, globalization, US Administration, Political Economy.