By Howard Dick, Peter J. Rimmer
This ebook exhibits the influence of globalization on Southeast Asia, which over a number of a long time has advanced from a free set of war-torn ex-colonies to being a centre of world production. concentrating on towns, Howard Dick and Peter J. Rimmer clarify the emergence of contemporary Southeast Asia and its expanding integration into the realm financial system by way of displaying how technological swap, financial improvement and politics have remodeled the flows of products, humans and knowledge.
Read Online or Download Cities, Transport and Communications: The Integration of Southeast Asia Since 1850 (Modern Economic History of Southeast Asia) PDF
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Extra resources for Cities, Transport and Communications: The Integration of Southeast Asia Since 1850 (Modern Economic History of Southeast Asia)
By 1850 the share of the Indian trade was entering a long-term decline but this was offset by steady growth of the China trade, which after 1840 found a new focal point in the British settlement of Hong Kong. Singapore thereby became more oriented towards the China trade and, with continuing immigration from South China, evolved into a Chinese town, closely linked into networks formerly based on Malacca, Penang and Batavia (Chapter 7). In 1850 all intra-Asian trade accounted for three-quarters of all Singapore’s trade; Europe and in very small part North America and Australia accounted for most of the remainder.
Singapore was not damaged by the financial crisis which hit Thailand, Malaysia, Indonesia and the Philippines in 1997–98 and, despite some weakening of its exchange rate, its institutions remained sound. Though Singapore’s role is challenged by neighbouring Malaysia and Indonesia, its spillover into Johore and Riau makes the economy of Greater Singapore genuinely transnational (Chapter 7). Asia’s ‘Main Street’, including Shanghai, will be the highway of the twentyfirst century. The trade liberalization agreements of the Asia-Pacific Economic Community (APEC) provide a multilateral framework for expanding trade and investment, as increasingly does the ASEAN Plus Three (China, Japan, South Korea) grouping (Tay et al.
It would therefore be more accurate to say that Singapore exchanges energy with the main cities of Southeast Asia, in most cases much more than they exchange energy with each other. ‘Energy’ is used here as the broadest possible term to encompass flows of goods, people and information, all of which interact through the common medium of money in market institutions. Singapore’s ability to function as a dynamo is enhanced by its historic role as a free port and now also as an open market for financial transactions and direct foreign investment.