Globalization and the Emerging Economies: East Asias Structural Shift from the NIEs to Potentially Bigger Market Economies (PoBMEs)
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概要
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Recently, global political-economic issues, which had been monopolized by the G7 or G8 countries, have come to be discussed under a new framework. In the September 2009 G20 Financial Summit in Pittsburg, Pennsylvania, it was agreed upon that the summit took place as the standing framework for debating future global economic issues. What empowers these emerging countries out of the G20 in terms of international politics and the economy? In this paper, we call the emerging economies centering on the BRICs (Brazil, Russia, India and China) as “potentially bigger market economies” (PoBMEs), and confirm their development mechanism and particular circumstances. We also compare the differences between the newly industrializing economies (NIEs: Hong Kong, Korea, Singapore and Taiwan), as a typical development case during the late 1960s and the 1980s, and the PoBMEs, as the present development case, focusing on the BRICs economies in terms of the capital-labor-market spatial relationship, and we distinguish these aspects as three different stages. In the first stage prior to the mid 1960s, labor moved to advanced regions with abundant capital and markets. In the second stage where NIEs enjoyed higher growth, capital moved in search of labor in developing regions and exported their products to the markets of advanced regions. In the third stage of PoBMEs, capital moves in search of potential markets as well as labor in developing regions. In this stage, PoBMEs have a chance to develop and become much powerful countries in global society.
著者
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Aung Than
Economic Research Center, Graduate School of Economics, Nagoya University
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Hirakawa Hitoshi
Economic Research Center, Graduate School of Economics, Nagoya University