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EN
Southeast Asian economies have already gone a long way of development. Firstly, they have survived a period of economic miracle, which de facto was not a miracle, but based on good macroeconomic policy and strong foundations, such as high interest rate and macroeconomic stability. Secondly, the economies have experienced deep crisis, which has proven that good policies are not sufficient condition for development. Apart of them economy needs good, mature institutions and management. Reforming those institutions as well as political reforms is especially important, if countries open politically as well as their economies. Reforms with parallel process of transforming countries towards democracy, and sometimes still decentralization is a great challenge for them. Thirdly, dynamic development of the Chinese and Indian economies has constrained other countries and those being members of the Association of Southeast Asian Nations (ASEAN) as well, to certain adjustments. ASEAN countries represent different development levels, what significantly determines their future aims and policies as well as their advances in the world and region’s society. The article answers three important questions connected with further development of the ASEAN countries: 1. Are the ASEAN countries able to avoid internal disintegration while growing intolerance for deepening disparities in the societies of individual countries, increase in pollution and corruption? 2. Are the ASEAN countries going to profit on the success of China and India, or, maybe opposite, is it going to be additional competitive struggle in international markets? 3. Will the regional integration help in raising the economic effectiveness, or is it to cause external shocks in individual economies?
EN
The 21st century has been said to be the century of Asia. The dynamism of Asian economies for a few last decades is a kind of confirmation of the above statement. The contemporary world is undergoing transformation not only in its economic, but also geopolitical sphere. The changes lead to the formation of new political and economic order, where a place for new emerging powers should be found. China is one of such powers. This country is the most evident example of an Asian economy which is changing not only internally, but also causing great shift in the world order. The article shows the new position of the Chinese economy in this world order.
EN
Not so long ago, in the mid-90s Southeast Asian region seemed to face safe and brilliant future, as the World's economic „power station for the new century, as well as the source of world moral and social values. The success of the countries in the past three decades was based on different factors, of which: policy of openness to the world, high savings and investment rates, investments in human resources, entrepreneurship, hard work, development-oriented governments and wise macroeconomic policy were the most important ones. A main key to success were export sectors that play the part of the engines of growth as well as deepening integration with the world economy. There has always been a common trait in the development of each of the countries, that is the high rate of state interventionism. The dilemma of open markets versus government control" has never existed there. It has always been only the problem of proportions between the two. The author shows the Southeast Asian economies, their success, failures during the financial crisis of 1997-1998 and the achievements at the end of the current decade. She also analyzes the factors being in the background of Southeast Asian victories and failures. The author points out export-oriented protectionism and three expressions that may characterize the role of Southeast Asian governments, that is: paternalism, pragmatism and open-oriented policy.
EN
The purpose of this article is to present the dynamic changes in the approach of Asian economies to economic integration and especially to describe the process called “new regionalism”. Economic globalization is the main stimulus encouraging individual economies to undertake efforts towards the renewed interest in regionalism. Preferential trade agreements are the proof that economic competitiveness of individual countries is diminishing and nowadays competitiveness is based more on regions. The author of this article points out some other factors stimulating this new regionalism, as well as the main features of this phenomenon. In the article, the author presents traditional integration in the form of ASEAN for comparative purposes as well, as it is easier to point out the differences between these two processes. Special attention is paid to the efforts of creating the East Asian Economic Group and China-ASEAN Free Trade Agreement (CAFTA, in existence since 2010) and ASEAN+3 which includes ten ASEAN members, China, Republic of Korea and Japan. The article also touches upon the issue of the region’s financial stability and its main tool since 2009 – the Chiang Mai Initiative - Multilateralization as the first and very important step towards creating regional monetary fund.
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