Question

1. Why do many people say that "the 21st century is Asia's century"?

2. What is really "Asia"? How may regionalism affect the economic and business growth for Asian countries?

Answer 1

Answer:-1) Asia has benetifted enormously from globalization, it also encapsulates many of the world's problems. Fortunately, there are growing signs that this vibrant, diverse continent can work together and rise to offer some of the solutions. China and India mainly playing a central role in the Asian century. However it is also an emerging and multipolar century. Spatial frictions that affect the geographic distriubtion of people and economic activitiy also affect productivity and its evolution. There is a well- established literature in urban and regional economics that emphasizes the importance of agglomeration economics.

Answer:-2) In all seven continent, Asia is Earth's largest and most populous continent located in the Eastern and Northern Hemisphere. There are 48 countries located in Asia.

Asian regionalism is emerging against the backdrop of a remarkable half century of econmic development. In recent years a new regionalism has began to emerge in East Asia that represent a clear break from region's strong of multilateralism. Its focus on labor intensive exports was new, the prevalling "big push" development strategy favoured large, coordinated investments in a bid to achieve economics of scale usally in import competing Industries.