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• W2116780540 abstract "This paper employs theories of hegemony to explore the way the regional economic regime was reconstituted in the aftermath of the East Asian financial crisis of 1997. An important distinction is made here between realist and Gramscian notions of hegemony in the construction of international orders. I argue that while these perspectives are predicated upon very different assumptions about the way the world works, they both offer important insights about the development of the contemporary international political economy in East Asia. In the final section of the chapter I examine recent events in the region in more detail and consider their implications for the future of international relations more generally. It has become commonplace to observe that we live in an increasingly interconnected, not to say global era. While it is necessary to treat undifferentiated notions of ‘globalisation’ with some caution, international economic interaction in particular has clearly been accelerating. In such circumstances, the external environment within which international commerce occurs has become an increasingly important influence on both the activities of private economic actors and the more general domestic affairs of nations. The conduct of economic activity, both internationally and domestically is increasingly guided by specific regimes, or influential rules and norms that help shape private sector and state behaviour in line with particular goals and objectives. While such regimes might seem a clear example of an international collective good in that they are intended to reduce ‘transaction costs’ by providing a stable framework within which international commerce can occur, I shall suggest that their construction is necessarily a deeply political exercise, which inevitably helps to entrench a specific normative vision of the way such activities should occur. For this reason the crisis that began in East Asia in 1997 was not simply a problem of short-term crisis management, but a more enduring challenge to the durability and – perhaps more significantly in the longer term - the legitimacy of state-led models of economic development. Profound national or systemic crises are moments when existing orders are subjected to intense scrutiny and opportunities exist for fundamental change (Gourevitch 1986). The crisis had the effect of focusing attention on both the supposed shortcomings of Asian forms of capitalism and on the overarching international system of which they were a part. Consequently, while much effort was expended on trying to rectify the immediate difficulties of individual economies and to generate ‘appropriate’ longer-term domestic responses to the crisis, it is important to recognise that this was to" @default.
• W2116780540 created "2016-06-24" @default.
• W2116780540 creator A5073015884 @default.
• W2116780540 date "2012-10-02" @default.
• W2116780540 modified "2023-09-26" @default.
• W2116780540 title "The construction of international regimes in East Asia: coercion, consensus and collective goods: Mark Beeson" @default.
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• W2116780540 doi "https://doi.org/10.4324/9780203402955-7" @default.
• W2116780540 hasPublicationYear "2012" @default.
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