chapter  17
Globalization and East and South-East Asia
WithAlistair D. B. Cook
Pages 10

The development of the global economy, with its borderless commerce and financial flows, as well as instantaneous communication and information exchange, have not only eroded traditional notions of sovereignty of East and South-East Asian states, but have also led to the emergence of ‘non-traditional’ security challenges. While observing globalization and the development of regionalism, it is important to ground it in reality and explore the developments of a particular region. However, the onset of the 1997 asian financial crisis underlined the region’s connectivity to the global economy and the need for greater regional co-operation. In addition, the Asia-Pacific Economic Co-operation forum exists and is primarily focused on economic issues but has also begun to focus on non-traditional security issues such as fighting transnational crime and terrorism. As a regional organization, Association of Southeast Asian Nations has come through various rounds of criticism for its inherent promotion of the status quo and rhetorical commitments made at the regional level.