03 Jun 12 International Relations

For a very long time, the place of Asia in the world of trade has not been a very prominent one. The supremacy has always been claimed by the west. Things seem to be changing fast. The trends in the world have been that the one with the dollars determines pretty much what goes on in the world. The United States as well as Europe have been at the fore front in terms of the world economy and even claimed leadership roles on themselves. In the recent years however, Asian countries have come up in a big way in the world of trade. The amount of goods and services exported play a very great part in the determination of the gross domestic product. The west has been burning extra mid night oil in order to control the way this crucial issue moves. This is necessitated by the emerging competition for African markets, and the apparent success by the Asian giants with regard to African market control. The African as well as the Asian markets have been for quite a long time great consumers of western products, perhaps for lack of alternatives. However, the Asian products, especially from China, Japan and Singapore have really made the westerners hot under their seats. This sudden change of trends has given Asian a great new face. Slowly the Asian giants have been acknowledged as key players in the world economy. This study is interested in the industrialization of Asia and the significance of the same in international relations. Some of the issues to be discussed include: the implications of Asian industrialization for the World Trade Regime, the possible changes in the World Trade Organization as a result of this industrialization, and whether the West should do something in defense of their interests.