Abstract
The main focus of this chapter is to discuss the context in which this book is conceived. By the turn of the twenty-first century, the Asia-Pacific region had emerged as an economic powerhouse. However, the century began with major developments which have resulted in great challenges as well as enormous opportunities. We identify six of these major developments, namely, economic integration, the global financial crisis, changing international environment, technological competition, an aging population, and the global pandemic; and analyze their implications for the Asia-Pacific region. We also explore how governments and firms in the Asia-Pacific region are beginning to recalibrate their outlooks and strategies, which has already resulted in remarkable transformations in the region. In particular, we examine these transformations from three perspectives: (1) Asia as the world’s manufacturing center, (2) Asia as a thriving consumer market, and (3) Asia as a leading hub for innovation. The chapter then outlines the structure of this book and summarizes the major theme of each chapter.
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Bu, N., Wu, T. (2022). The Asia-Pacific Region: The New Center of Gravity for International Business. In: Wu, T., Bu, N. (eds) International Business in the New Asia-Pacific. Advances in Theory and Practice of Emerging Markets. Springer, Cham. https://doi.org/10.1007/978-3-030-87621-0_1
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