Global Value Chain in East Asia Under "New Normal": Ideology- Technology-Institution Nexus
This paper analyzes how the current Global Value Chain (GVC) of East Asia has been established, and attempts to project the future trajectory of GVC under New Normal in the global trading system. For this purpose, the framework of Ideology-Technology-Institution nexus is presented with focus on the...
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| Format: | Article |
| Language: | English |
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Korea Institute for International Economic Policy
2020-03-01
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| Series: | East Asian Economic Review |
| Subjects: | |
| Online Access: | http://dx.doi.org/10.11644/KIEP.EAER.2020.24.1.370 |
| _version_ | 1818026040101961728 |
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| author | Byung-il Choi |
| author_facet | Byung-il Choi |
| author_sort | Byung-il Choi |
| collection | DOAJ |
| description | This paper analyzes how the current Global Value Chain (GVC) of East Asia has been established, and attempts to project the future trajectory of GVC under New Normal in the global trading system. For this purpose, the framework of Ideology-Technology-Institution nexus is presented with focus on the dynamics of interplay between ideology and technology, duly recognizing the dual-aspect of technology- a platform for business and also for national defense. The paper analyzes how the Information and Communication Technology (ICT) of the 1990s played a role of “facilitator” in shaping the GVC of East Asia, where China plays ‘factory for final assembly’ and the US plays ‘the largest consumer’. Under New Normal, digital technology is likely to play the opposite role of “disrupting” the GVC of East Asia, unlike ICT. The paper explores the mechanism behind this great disruption. What is driving New Normal is the US-China power competition, seeking for dominance in East Asia and beyond. This paper argues that New Normal is not temporary shock, but will last for some time. Under this presumption, the paper presents three scenarios for the future trajectory of GVC in East Asia. |
| first_indexed | 2024-12-10T04:25:40Z |
| format | Article |
| id | doaj.art-0150235a77c449c499e394f6643123e2 |
| institution | Directory Open Access Journal |
| issn | 2508-1640 2508-1667 |
| language | English |
| last_indexed | 2024-12-10T04:25:40Z |
| publishDate | 2020-03-01 |
| publisher | Korea Institute for International Economic Policy |
| record_format | Article |
| series | East Asian Economic Review |
| spelling | doaj.art-0150235a77c449c499e394f6643123e22022-12-22T02:02:17ZengKorea Institute for International Economic PolicyEast Asian Economic Review2508-16402508-16672020-03-0124133010.11644/KIEP.EAER.2020.24.1.370Global Value Chain in East Asia Under "New Normal": Ideology- Technology-Institution NexusByung-il Choi0https://orcid.org/0000-0001-9263-3785Ewha Womans UniversityThis paper analyzes how the current Global Value Chain (GVC) of East Asia has been established, and attempts to project the future trajectory of GVC under New Normal in the global trading system. For this purpose, the framework of Ideology-Technology-Institution nexus is presented with focus on the dynamics of interplay between ideology and technology, duly recognizing the dual-aspect of technology- a platform for business and also for national defense. The paper analyzes how the Information and Communication Technology (ICT) of the 1990s played a role of “facilitator” in shaping the GVC of East Asia, where China plays ‘factory for final assembly’ and the US plays ‘the largest consumer’. Under New Normal, digital technology is likely to play the opposite role of “disrupting” the GVC of East Asia, unlike ICT. The paper explores the mechanism behind this great disruption. What is driving New Normal is the US-China power competition, seeking for dominance in East Asia and beyond. This paper argues that New Normal is not temporary shock, but will last for some time. Under this presumption, the paper presents three scenarios for the future trajectory of GVC in East Asia.http://dx.doi.org/10.11644/KIEP.EAER.2020.24.1.370global value chaineast asianew normalideology-technology-institution nexusdual-aspect of technologytrade-security nexus |
| spellingShingle | Byung-il Choi Global Value Chain in East Asia Under "New Normal": Ideology- Technology-Institution Nexus East Asian Economic Review global value chain east asia new normal ideology-technology-institution nexus dual-aspect of technology trade-security nexus |
| title | Global Value Chain in East Asia Under "New Normal": Ideology- Technology-Institution Nexus |
| title_full | Global Value Chain in East Asia Under "New Normal": Ideology- Technology-Institution Nexus |
| title_fullStr | Global Value Chain in East Asia Under "New Normal": Ideology- Technology-Institution Nexus |
| title_full_unstemmed | Global Value Chain in East Asia Under "New Normal": Ideology- Technology-Institution Nexus |
| title_short | Global Value Chain in East Asia Under "New Normal": Ideology- Technology-Institution Nexus |
| title_sort | global value chain in east asia under new normal ideology technology institution nexus |
| topic | global value chain east asia new normal ideology-technology-institution nexus dual-aspect of technology trade-security nexus |
| url | http://dx.doi.org/10.11644/KIEP.EAER.2020.24.1.370 |
| work_keys_str_mv | AT byungilchoi globalvaluechainineastasiaundernewnormalideologytechnologyinstitutionnexus |