Trade And Industry In The Asia-Pacific Century

Trade And Industry In The Asia-Pacific Century

The history and trends for trade and industry in Asia and the Pacific will be examined at a conference at The Australian National University this Thursday and Friday.

Taking place in the context of the changing role of Asia in the global economy and at the dawn of what many describe as the Asia-Pacific century, Trade and Industry in Asia Pacific: History, Trends and Prospects, jointly organised by ANU and Latrobe University and sponsored by the Australian Research Council, will bring together some of the world’s foremost authorities on Asian economies.

A highlight of the conference will be the key note address from Professor W. Max Corden, Emeritus Professor of International Economics at Johns Hopkins University.

Examining the impact of the global financial crisis on developing Asian economies Professor Corden will dissect the role of what he describes as ‘Ambulance Economics’, or the emergency application of fiscal stimuli.

“Fiscal stimuli and other policy responses that have been in progress during the crisis may have actually affected events,” said Professor Corden. “The key underlying issue here is the relative weight one places on the danger of another Great Depression.”

“People are still discussing details of the Great Depression, and this latest crisis, that did not turn into a depression, but might have, will, I hope, similarly stimulate the economics profession. Perhaps no issue is as important as the causes of the international financial sector break down, and what changes are needed in regulation of that sector”

Conference convenor Professor Premachandra Athukorala of ANU, said that the conference is the most important event of this type to be held in Australia in recent years. “It will provide a forum to explore the historical, institutional and political economy aspects of the transformation of the regions economies,” he explained.

“It will also discuss the wider implications of the current financial crisis for Asia and the global economy. At a time when the Asia-Pacific region has begun to play a much larger role in driving the global economy, an understanding of these issues is absolutely vital.”

ENDS

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