Meteoric Rise of the East Asian Realm in the Global Economy

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World Regional Geography
Meteoric Rise of the East Asian Realm in the Global Economy
The meteoric rise of the East Asian realm in the global economy took multiple decades of transformation. Japan among different countries of the world was among one of the first countries that emerged as a global economic hub for many developed nations like the United Kingdom and Germany. The growth of the global network of Japan played a vital role in its economic growth and development. As economies grow, they gain a couple of economic benefits. In the case of Japan, the global network allowed the country to acquire commodities like natural gas, oil, chemicals and iron ore. With time as the populations started to modernize and urbanize globally, the Japanese launched their products into global markets. The Japanese government focused on technology, consumer electronics and automobiles products so that the maximum market share can be captured (Liu and Liu 972). This strategy of Japan proved to be successful as the country emerged as a technology leader and industrial giant. The strategy adopted by Japan was replicated by Singapore, Taiwan, South Korea and Hong Kong, which contributed to the rise of industrialization in these countries. The increase in export processing hubs and foreign investment played a significant role in the economic growth of these countries. The formation of central governments and market liberalization policies these Asian countries were able to align their products with the Western markets. Another country China contributed to the rise of East Asian realm by establishing one of the world’s most significant manufacturing sectors. The Chinese government took steps for creating an ideal environment for skilled labour, foreign investment and reliable infrastructure (Berglee 732). Furthermore, a multi-level system was developed for attracting foreign investment by relaxing export regulations and taxation policies.
Internal Tension and Issues. The political issues present between two major Asian countries like Japan and China created tension in the region. The Sino-Japanese dispute present among the two countries on Senkaku Island created political unrest in the region. Japan captured the uninhabited island of China during 1895, which China claims as its region (Bisley 266). This disputed territory has resulted in a war between the two countries and economic turmoil.
China has raised its voice against North Korea’s nuclear weapons technology and missiles. Besides, South Korea and Japan are raising their concerns about the underground tests conducted by North Korea. This issue has resulted in creating tension in the East Asia region (Foot & Goh 399). China supports the denuclearization of North Korea, along with the United States of America as it will contribute towards the destabilization of the East Asia region (Shambaugh 86). The nuclear missile technology of North Korea poses a serious threat to the national defense and security of China. Therefore, Beijing supports the de-weaponization of North Korea in multiple phases so that peace can be established in the region.
The maritime disputes and territorial disputes present in the East Asia region are u...