Book contents
- Frontmatter
- CONTENTS
- List of Figures and Tables
- Preface
- 1 Introduction
- 2 Progress and Development
- 3 Challenges – Contradictions of Development?
- 4 Important Advanced Economies: US and Japan as Development Models
- 5 Emerging Economies: Asia and the Gulf
- 6 India and the Middle East
- 7 The Energy Giants
- 8 China and Its Energy Needs
- 9 Addressing the UAE Natural Gas Crisis: Strategies for a Rational Energy Policy
- 10 Conclusion
- Notes
- Works Cited
- Index
2 - Progress and Development
- Frontmatter
- CONTENTS
- List of Figures and Tables
- Preface
- 1 Introduction
- 2 Progress and Development
- 3 Challenges – Contradictions of Development?
- 4 Important Advanced Economies: US and Japan as Development Models
- 5 Emerging Economies: Asia and the Gulf
- 6 India and the Middle East
- 7 The Energy Giants
- 8 China and Its Energy Needs
- 9 Addressing the UAE Natural Gas Crisis: Strategies for a Rational Energy Policy
- 10 Conclusion
- Notes
- Works Cited
- Index
Summary
Significant interdependency between national economies in the global economy is a neoliberal construct. In forgoing conflicts and tensions, the liberal interpretation argues there is an expected dividend from anticipated trade. The assumption is also based on the rationality of economic entities that in the cost-benefit analysis, benefits from trade will outweigh the costs from conflicts. Economic and trade interdependency is also promoted and advocated to potentially convert adversarial relationships into economically productive ones. Economic expansion of ties enables the stakeholders to create shared values and norms that can mutually enhance interdependency.
Constructivist ideals build upon these economic and often political ties to expand trade bilateralism into a complex and complicated interwoven set of linkages and connections. In such a complex interwoven structures, there may also be a potential for economies to learn from each other, particularly, as models of development for spurring economic improvements and regional upgrading of production structures.
In addition, when economies learn from each other, they may resemble each other more in terms of infrastructural features, such as ports, airports and other transportation facilities. After this bout of development, the infrastructural works in Asia, the Gulf and the US may resemble more of each other as they begin to serve the same purposes, facilitate the mobility and movement of goods, services and people.
- Type
- Chapter
- Information
- Energy, Trade and Finance in AsiaA Political and Economic Analysis, pp. 33 - 50Publisher: Pickering & ChattoFirst published in: 2014