The myth of a de facto Asian economic bloc: Japan's foreign direct investment in East Asia |
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| Affiliation: | 1. INEGI – Institute of Science and Innovation in Mechanical and Industrial Engineering, University of Porto, Porto, Portugal;2. INESC TEC – INESC Technology and Science, Porto, Portugal;3. Climaespaço, Portugal;1. King Abdullah University of Science and Technology (KAUST), Clean Combustion Research Center (CCRC), Thuwal 23955-6900, Saudi Arabia;2. Department of Chemical Engineering, King Faisal University, Al-Ahsa 31982, Saudi Arabia;3. Dipartimento di Chimica Industriale “Toso Montanari”, Università di Bologna, Viale Risorgimento 4, Bologna 40136, Italy;4. GE Power, Saudi GE Technology & Innovation Center, Dhahran 34464, Saudi Arabia;5. Department of Mechanical and Aerospace Engineering, Princeton University, Princeton, NJ 08544, USA |
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| Abstract: | Asia has not been left out of the furor surrounding regional trading blocs. The worlds current fear is that, soon, the EC and NAFTA might well be joined by an “AFTA” (Asian Free Trade Area) that would further insulate Asian markets from the rest of the world. Graham and Anzai debunk the myth of Japan's overwhelming investment in the region and identify what they find more disturbing: the future problems Japan could have as a result of the yen's continued overvaluation and its effect on reduced manufacturing in Japan. Perhaps Japan is becoming less competitive, and a little more like everyone else. |
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