World Scientific Book Series In Asian Trade And Asian Economic Development
3 primary works
Book 0
In two centuries since the Industrial Revolution, energy-based technological change conferred living standards on Western economies that are beyond the imagination of their ancestors. Around the world, however, this progress has been more uneven. Asia came later to industrialization, and it remains unequally distributed around the region. Rapid and sustained growth over the last generation, however, has begun a dramatic transition for this region. Average per capita energy consumption is low in Asia today, but rising inexorably with incomes. Given the underlying demographic scale, this will place unprecedented demands upon the global energy system, with profound implications for the environment and, depending on innovation processes, real living standards. Unless energy becomes less carbon-intensive and remains affordable, Asian economic emergence will challenge the prospects for sustained global growth and prosperity. To support more sustainable Asian energy development, this book collects expert perspectives on the salient aspects of the regional and global energy economy.
The authors synthesize the state of knowledge on conventional and alternative energy development with the latest information on evolving energy use technology, demand patterns, and markets.
The authors synthesize the state of knowledge on conventional and alternative energy development with the latest information on evolving energy use technology, demand patterns, and markets.
Book 0
Coming Revolution In Asian Financial Services, The
by David Zilberman and David Roland-Holst
Published 30 November 2020
Since the middle of the last century, as a result of globalization and determined commitments to investment in enterprises and people, Asia has seen steadily rising incomes. One by-product of this “Asian miracle” is an unprecedented reserve of public and private savings. Most Asian societies promote high private savings rates, fiscal prudence, while a legacy of export success has garnered huge external savings. Because of excessive reliance on traditional depository banking, Asia's vast financial reserves are being underutilized, with low returns to savers and inadequate services for investors. This disparity explains why Asia has parked trillions of dollars in low yield Western government debt and regional investment still remains constrained. Despite relatively high investment from retained profits and traditional bank lending, financial depth in Asia remains low because the financial services industry is still in its infancy.Three salient trends will change all this: sustained low yields on OECD debt, investment needs for Asian regional integration, and explosive growth of the Asian financial services industry. Simply put, the region has a vast overhang of underutilized savings and vast emergent needs for regional infrastructure and supply chain expansion. To match these, Asia's financial services industry must expand to an extent not seen before (anywhere), creating new markets for retail brokerage, public and private bond finance, insurance, and derivatives. These services have appeared in regional capitals (Shanghai, HK, Singapore, etc.), but remain very limited. Like the historic financial revolutions in the trading centers of Renaissance Florence, 17th century Amsterdam and London, investment and risk management needs from globalization will trigger an explosion of financial services in Asia.Public and private audiences need guidance about such a momentous process. The financial landscape ahead will change rapidly, presenting tremendous challenges and opportunities. To help decision-makers and interested observers navigate the way ahead, this volume collects expert perspectives about how Asia's financial sector will evolve to better meet the needs of the region's billions of savers and borrowers.
Book 0
Regional Integration For Growth: Asian Responses To China's Emergence
by David Zilberman and David Roland-Holst
Published 30 November 2020
Over the last two decades, China has redefined our understanding of dynamic growth for an emerging economy. During this time, other Asian economies adapted to an unparalleled export competitor as China established robust supply chains into all the established OECD markets. As a result of its success, China economy is the world's second largest, and home to the fastest growing middle class. This transition, from low-wage export competitor to large, dynamic consumer society, presents the Asian region with a new generation of economic growth opportunities. Traditional, East-West trade will continue, as will China's export leadership in these markets. Asian economic integration, however, will allow countries in the region to diversify away from slow growing western markets while expanding their export supply chains to the world's most dynamic internal market.This volume offers expert opinions from a representative sample of Asian national and sector perspectives. Readers are given diverse geographic and sector perspectives, reflecting the multi-faceted nature of a new Asian economic dynamic, regional growth anchored by China's domestic market. Authors include leading regional academics and policy experts, as well as a few international scholars who can speak independently but with authority about Asia's economic future.