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How did Asia achieve a shared prosperity from globalization while the rich countries
struggled and are facing political repercussions?
The answer may lie in the heavy investment made by Asian governments in human capital
(education and health) to prepare the workforce to take advantage of the high wage manufacturing
jobs created by globalized investment. To continue to attract foreign investment, the government
made infrastructure investments. The political and economic advantages of training the population
for new employment were considered worthwhile targets, so the budgetary deficits associated with
substantial public investments in human resources and physical infrastructure were tolerated.
The long and arduous transition to sustainable employment has prompted calls to back out
of globalization agreements. This is misplaced because it is impossible to retain jobs that are
better done elsewhere without investment. That would be a step toward a world where suffering is
globalized. There is thus no alternative to a proactive government that eases the transition to new
jobs in rich countries.
Asia had the advantage of preparing its work force for known job streams. Rich countries,
on the other hand, have to discover new productive jobs. However, we do know that discovery is
more likely if education standards improve, physical infrastructure is cutting edge, and science and
research are well-funded. Rich countries don't have to give up on manufacturing as a source of
employment.
Asia has been a beneficiary of economic globalization as evident in the rapid economic
growth of a number of large Asian countries in the past three decades.
Asian globalization with deep historical roots may be viewed as a contributor to the
processes of globalization, the present chapter examines the process of globalization in Asia
historically arguing that Asian globalization is likely to reshape and broaden the very idea of
globalization. In this chapter, a comprehensive view, that is, a thick theory of globalization is
presented, which is entangled, embedded, and contingent.
Projections of future resource requirements and environmental stress are worrying, wether
the focus is on the population numbers alone or on the effects of poorly planned economic
development and changing consumption pattern.
Despite these gains many asia countries today confront challenges that will determine
wether they continue on a sustainable path to prosperity or fall victim to economic nation,social
unrest,political instability.Among these challenges are widening incomplete disparities, persistent
poverty, widespread corruption, and growing ethnic and religious conflicts.Add to the list Asia's
vulnerability to natural disaster and climate change, the unequal status of women, weak and legal
protections, and the range pf potential threats to the regions and future growth and development
becomes daunting indeed.
Health is a human right and is essential to development. Good health improves learning,
worker productivity, and income. As such, health contributes to economic growth.
Asia is the fastest-growing and most dynamic region in the world, but government spending on
public health is low and is often not focused on those who need it most. For many in the region,
personal health expenses are a major cause of poverty.
Another major challenge facing Asia is disease control and prevention. Countries working
together, which increases the movement of people across borders and the exchange of goods,
can also spread diseases, including HIV/AIDS
Maternal and Child Health- government spending on mothers, infants, and children is an
investment with major social and economic returns. Households with healthier and better
nourished mothers and children spend less on health care.
Pandemics and Emerging Disease- an influenza pandemic in Asia and the Pacific would put
the health of millions at risk and have serious economic consequences.
Strengthening Health System and Services-financing of health care is a major - and growing -
policy challenge for many countries in Asia.