Module description
East Asia is one of the most economically dynamic regions in the world. It is home to a combination of developed and developing countries that, together, create a vibrant and complex economic environment. Concurrently, East Asia is central to the global political economy. This module addresses the economic, political and social factors behind the evolution and current state of the economy of East Asia – as well as its influence in the global economic system. The module will analyse the interaction between the market and the state as East Asian economies grew and once they became developed; the role of Japan in the past and China today as the most important regional economic actor; the emergence or regionalism and regionalisation in the East Asian political economy; the effects of the collapse of communism in shaping the economy of the region; and the role that East Asian countries play in global economic flows and governance.
The course will begin with an overview of the evolution of the political economy of East Asia. Afterwards, the course will focus on the reasons behind the rise of East Asian Developmental states and China. This will be followed by an examination of how China and developed and developing East Asian countries are being shaped by and shape the global political economy. The role of East Asia in trade, production, currency and financial networks will then be explored. Finally, the course will concentrate on the emergence of the East Asian global city and the region’s position as economic conflict has become entrenched.
The aim of this course is for students to understand and evaluate the evolution and current state of the political economy of East Asia, as well as its role in the global political economy. Students will learn about the reasons behind the development of the region. The course also aims to explain the impact of East Asian in a wide range of global economic dynamics. Finally, students will also learn how East Asia is affected by economic uncertainty, be it crises or conflict.
*Please note that module information is indicative and may change from year to year.
Assessment details
One presentation (15%) and one 2,500-word essay (85%)
Educational aims & objectives
The educational aim of this module is for students to learn about the political economy of East Asia - understood as Korea, China, Japan, Taiwan and ASEAN - in the global political economy. Students will learn about three interrelated areas:
- The political economy of the origins and development of intraregional production, trade and investment networks in the second half of the 20th century, as well as regional economic governance institutions following the Asian Financial Crisis;
- The political economy of East Asian countries' engagement in trans-regional production, trade and investment networks throughout the 20th and early 21st centuries, particularly in connection to North America and Europe, as well as in global economic governance institutions from the 1990s onwards;
- The extent to which East Asian countries have become more central to the global political economy in the aftermath of the Global Financial Crisis.
Learning outcomes
At the end of the module students will:
- Demonstrate knowledge about the history, evolution and current state of the study and research of the political economy of East Asia in the global political economy.
- Have competence to select an appropriate mix of primary and secondary sources to critically assess the main empirical debates in the sub-fields of the political economies of transnational production, trade, financial and monetary flows and networks, as well as the political economy of economic governance.
- Understand, analyse and explain how East Asia is affected by and contributes to global economic governance.
- Understand, analyse and explain how the political economy of East Asia in the global political economy relates to wider theoretical and empirical debates in the subject of International Political Economy.
- Apply knowledge about East Asian intra-regional production, trade, financial and monetary networks to their global counterparts and vice versa.
- Critically evaluate the strengths and weaknesses of East Asian transnational production, trade, financial and monetary networks, as well as regional economic governance structures.
Teaching pattern
One two-hour seminar, weekly
Indicative teaching schedule
Week 1: Introduction: The evolution of the political economy of East Asia
Week 2: The rise of the East Asian Developmental State
Week 3: China’s economic rise
Week 4: China and the global political economy
Week 5: Developed East Asia and the global political economy
Week 6: Developing Southeast Asia and the global political economy
Week 7: East Asia’s role in trade and production networks
Week 8: East Asia’s role in financial and currency networks
Week 9: East Asia’s global cities
Week 10: East Asia in the age of economic conflict
Note that this teaching schedule is indicative and subject to change.
Suggested reading list
- Beeson, Mark, Regionalism and Globalization in East Asia: Politics, Security and Economic Development, 2nd ed. (New York: Palgrave Macmillan, 2014).
- Cai, Kevin G., The Political Economy of East Asia: Regional and National Dimensions (New York: Palgrave Macmillan, 2008).
- Pekkanen, Saadia, John Ravenhill and Rosemary Foot (eds.), The Oxford Handbook of the International Relations of Asia (Oxford: Oxford University Press, 2014), section 3: International Political Economy.
- Wan, Ming, The Political Economy of East Asia: Striving for Wealth and Power (Washington, DC: CQ Press, 2008).