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Building Scenarios on the Regional Integration in Eurasia along the New Silk Road
Hannes Thees,Greta Erschbamer 세종대학교 경제통합연구소 2022 Journal of Economic Integration Vol.37 No.3
Regions are gaining importance as globalization struggles with local sustainable implementation. Thus, regional integration assumes economic development based on transnational cooperation, including regionalization and regionalism. The New Silk Road (NSR) offers a set of policies (including the Belt and Road Initiative) for regional integration that faces challenges in geopolitics and geoeconomics with problems at the local and regional scale, especially along its core corridor, namely, the Eurasian Land Bridge. Therefore, we focus on the NSR implementation by examining the scenarios for future regional integration along the NSR in Eurasia. Using a stepwise scenario building method, including a literature review and qualitative interviews, four scenarios are outlined to explore regional cooperation and the impacts: from (1) withdrawal/reduction of the NSR towards (2) solo efforts by Chinese shareholders, (3) corridorintegration and finally, (4) deep regional integration. This study examines the interface between economic geography and international relations.
Indonesia's Economic Performance under Soeharto's New Order
Thee Kian Wie 서울대학교 경제연구소 2007 Seoul journal of economics Vol.20 No.2
This paper describes the rapid and sustained economic growth which Indonesia achieved during the three decades of President Soeharto's New Order rule. Rapid economic growth was accompanied by rapid social development and a steep reduction in absolute poverty. From being the 'chronic underperformer' in Southeast Asia in the early 1960s, Indonesia by the early 1990s had become one of the high-performing Asian economies (HPAEs). However, by the late 1980s the New Order's political legitimacy had eroded as the regime became more blatantly corrupt and self-serving. In economic policy this was reflected by an erosion in fiscal discipline as off-budget expenditures outside the control of the Department of Finance were spent on ambitious development projects the economic viability of which were questionable. The New Order collapsed when it was unable to deal effectively with the Asian economic crisis.