Economic Development in South East Asia Term Paper

Economic Development in South East Asia - Term Paper Example Sweeping generalizations of the economic status of the Asian economy have blurred this indispensable perspective, especially for the South East Asia region. The purpose of this paper is to bring to the fore the real economic state of the South East Asian economy, cast against a crucial history, a vivid present, and an imminent future. Keywords: Foreign Direct Investment (FDI), Export Processing Zones (EPZs) TABLE OF CONTENTS TABLE OF CONTENTS 2 Economic Development in South East Asia 1. INTRODUCTION A. South East Asia’s Economic Landscape The South East Asian economy exhibits a distinct peculiarity. This marks out the theme of many economic researches on the region (Sundaram, 2002). Firstly, there is a need to dissociate South East Asia from the larger East Asian region economically. The emerging world economic powerhouses consisting of the Indo-China axis are not part of the South East Asia, as many people mistakenly assume. South East Asia adheres to an entirely different ec onomic environment, which calls for less generalized view of its economic identity. In regard to this special aspect, this paper seeks to present a definitive examination of the region’s economic climate. ... Globalized economic structures have far-reaching repercussions on the economic scene. Major changes in economic climates, even within apparently localized but powerful economic structures, show profound impacts in the global economic system (Sundaram, 2002). For instance, the East Asian economy has heavy impact on the state of the South East Asian economy. Research is necessary to highlight the possible correlation or causal relationship between the South East Asian economy and the larger world economy. Information of this nature will be indispensable to both local and international investors. In addition, the information will also help the local governance systems secure their positions more strategically to weather the adverse storms of global trade. Consequently, the economies can reap the immense benefits that modern globalized marketplaces offer. The purpose of this paper is to study the South East Asia economic climate and discuss the characteristic features, benefits, and disa dvantages the economic structure exhibits. A study of South East Asia economies needs to take into account the political and social background of each of the countries. The fresh perspective will be a welcome drift from the numerous misleading misconceptions suggesting that the economies of the region have sweeping commonalities. Recent studies reveal that the regions are characteristically distinct in the way they deal with issues of economic significance (Steven et al., 1997). Government policy, international strategy, and focus areas for the economic growth vary from country to country. This paper seeks to address the following: An astute understanding of the growth in the economies of the region and the structural changes