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Essay On Economic Interdependence

1196 Words5 Pages

Since last three centuries, economic integration and interdependence among states have existed through trades. In 21st Century, the pace of economic interdependence becomes more rapid than the earlier times. After World War II, most countries have started to emphasize on the economic and social integration among each other rather than having wars because of the rapid change in global economy. Actually, this new trend has come up with the power shifting: from hard power to soft power and globalization around the globe. Superpower nations become to realize the benefits of economic interdependence and desire to build the friendly relations between states through it. However, together with the new trend, the question “Does economic interdependence …show more content…

As negative effects, asymmetric gain is one of the negative effects like in the case of China and ASEAN. When developed countries and developing countries integrate together, it is likely to happen that developed countries will probably get more benefits and give negative effects on the developing countries. In this case, host governments for investment are playing an important role. If the host countries tie with strong and fair rules and regulation not to harm the hosts, it will be easy to protect themselves and to maintain the interdependence. And it is also essential to have governments’ transparency related to the interdependence process to the respective public and to make sure that there is no corruption like in the case of Taiwan and Burma. In most cases, economic interdependence promotes peace among states as the countries less emphasizes on the going war and shows much interest in economic integration. As interdependence means leaning on each other economy and having mutual impacts on each other, countries has tried to care each other relation not to break up and become more friendly each other like in the case of China and US. Nowadays, the countries see trade and economic integration as an opportunity cost of war. In 21st century, any countries cannot stand alone on the global and economic stage and economic integration becomes has a must that drives a more peaceful world to a great

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