Can ASEAN retain centrality in Indo-Pacific region? - From a GVC point of view
Autor: | Masataka Fujita |
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Jazyk: | angličtina |
Rok vydání: | 2021 |
Předmět: | |
Zdroj: | Journal of Contemporary East Asia Studies, Vol 10, Iss 1, Pp 108-122 (2021) |
Druh dokumentu: | article |
ISSN: | 2476-1028 2476-1036 24761028 |
DOI: | 10.1080/24761028.2021.1892964 |
Popis: | The crucial determinant factor for ASEAN to support the Indo-Pacific strategy is whether ASEAN can retain and exercise the centrality. This paper addresses the issue on the centrality as to whether ASEAN can retain its centrality in the Indo-Pacific region. The issue is whether ASEAN can continue to assume an important position in Indo-Pacific economic transactions, more specifically in global value chains (GVCs) in the Indo-Pacific region. As GVC is expected to reflect the economic integration and interconnectivity of the region, higher participation of ASEAN in the Indo-Pacific GVC as compared with its own GVC, or at least a similar level of participation, is considered as retention of centrality. However, the reality is not such the case, and ASEAN is losing its centrality in the Indo-Pacific region in terms of GVC participation. This is partly due to the fact that Indo-Pacific is less integrated than ASEAN. Under this situation, the paper provides some policy implications for ASEAN to retain the centrality in Indo-Pacific. One of such policies is to increase and promote foreign direct investment (FDI) as it is the key to create GVCs. FDI flows as percentage of GDP in Indo-Pacific is much smaller in Indo-Pacific than in ASEAN. |
Databáze: | Directory of Open Access Journals |
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