Regional Integration

Understanding regional growth dynamics in Japan

In this article regional integration in Japan has created a new path. The United States has led globalization through market fundamentalism which pursues capital in the economy. Integration has led to a force of modernization as it can be best described through the principle that aims in accommodating the local market economies and the globalization of different brands fostering economic growth in various regions (Shibamoto, Tsutsui & Yamane, 2016). This has created a channel for Japan to global due to the social safety network of trade and efforts that has been sphere headed by its prime minister (Shibamoto, Tsutsui & Yamane, 2016). For over many years economic order of Japan has been building on traditions, national lifestyle, and habits but through regional integration, there have been changes in the Japan market. Japan, South Korea, Hong Kong, Taiwan and ASEAN have integrated to form a strong economic power in the region that has led to wider growth with numerous advantages (Shibamoto, Tsutsui & Yamane, 2016). The integration has been considered important as it has been able to put the countries together but not with its fair challenges such as an increase in militarization and territorial dispute.

Regional integration is considered important as it leads to better natural resources management within the countries that translate to a meaningful contribution to the growth of the country economy that further links to border economy. This integration has led to diversification in Africa exploring the full potential of the countries that has led to better infrastructure and giving the countries the opportunities to strengthen their economies. The integration of the countries is a relevant platform that creates pathway especially for the landlocked countries which further translate to a global experience to the all the countries involved leading to equitable and strong markets (Shibamoto, Tsutsui & Yamane, 2016).

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reference

Shibamoto, M., Tsutsui, Y., & Yamane, C. (2016). Understanding regional growth dynamics in Japan: Panel co-integration approach utilizing the PANIC method. Journal Of The Japanese And International Economies, 4017-30. doi:10.1016/j.jjie.2016.03.004