The Pacific Asian Region: Myth or Reality?

ABSTRACT

The rapid economic growth experienced by a number of East and South East Asian economies has attracted a great deal of attention. These economies are widely regarded as forming the dynamic core of a major new sub-division of the global economy. The basis for this view is reviewed and it is concluded that while there is evidence for a Pacific Asian core region, it is difficult to substantiate claims for broader trans-Pacific integration.

The internal structure of the Pacific Asian region is examined in terms of the emergence of Regional and Sub-regional divisions of labour. It is argued that these are integral to regional integration and continued economic growth. However, the increasing integration of some of the region's economies is offset by an intensifying of competition amongst others. The prospects for the establishment of a formal regional structure rest on the reconciling of these opposing forces. The pressure for this is likely to come from changes in the global economy which promote the organisation of trade in a series of highly managed trading blocs.

The much vaunted dynamism of some of the Pacific Asian economies has tended to obscure the uneven nature of growth and its environmental and human costs. Finally the sustainability and likely patterns of future regional development are assessed in terms of current regional and global economic and political trends.

Key words:

• Pacific Asia
• Region definition
• Regional integration
• Regional divisions of labour
• Subregional economic zones
• Costs of development