3 Review(s)

The financial turmoil of the late 1990s resulted partly from an excessive dependency between countries and regions. This important and timely new book examines the growing interdependency between Europe and East Asia and provides suggestions to prevent financial crises in the future. Special attention is given to the contributions of international trade and investment to deeper regional and global integration, and particular emphasis is placed on major issues such as: the organization of multinationals and the relationship between exports and foreign direct investment Asian and European firms as global actors and the role of trade in the integration of the two regions the changing patterns of East Asian economies as host and home countries for direct investment In conclusion the authors argue that more emphasis should be placed on direct investment rather than speculative inflows. This will create a more stable environment for the contribution of foreign capital to the growth of East Asian economies, and reduce both dependency between regions and the risk of financial instability in the future. The Global Integration of Europe and East Asia will be welcomed by those working in the fields of international economics and business, European and Asian Studies and the globalization of the world economy.