The current economic crisis has called into question the long term viability of the decoupling between multinational firms and the banking system. It has also cast serious doubts on the US dollar-centred monetary system, and invited reassessment of the long term viability of US-China economic relations based on a US current account deficit absorbed by Chinese financial institutions. It is also an opportunity to analyse the rise in property prices, particularly in fast-growing economies. Long term food security is also an issue, bringing to the fore the multinational firms from emerging economies (such as China and India) and calling into question the response strategies of multinational firms from the West and Japan. This book engages these key issues within the broad theme of integration, to give an up-to-date consideration of the subject, opening debate on the future stimulating role that Asia could play vis-A -vis the West, particularly the European Union.

Introduction, Bernadette Andreosso-O'Callaghan, M. Bruna Zolin; Part I Current Macroeconomic Issues; Chapter 1 Real Interest Rates and the Crisis: Where are the Rates Heading?, Dino Martellato; Chapter 2 Economic Vulnerability: China, EU and USA, Bernadette Andreosso-O'Callaghan; Chapter 3 The Twilight of 'Chimerica'? China and the Collapse of the American Model, Guilhem Fabre; Chapter 4 De Facto Trade Integration and Exchange Rate Policies in East Asia, Françoise Nicolas; Chapter 5 Economic and Financial Integration in East Asia: Status and Perspective, Woosik Moon, Hwanhee Oh; Chapter 6 Land, Biofuels and Food Security: Another 'Impossible Trinity Theorem'?, Bernadette Andreosso-O'Callaghan, M. Bruna Zolin; Part II Firm and Industry Level Issues; Chapter 7 Chinese Businesses in Japan: An Emerging Phenomenon, Reinhard Drifte, Jacques Jaussaud; Chapter 8 Indian Multinationals: Which Competitive Advantages?, Giovanni Balcet, Silvia Bruschieri; Chapter 9 Transnational Companies, Shareholder Value and the Chinese Innovation Policy, Michael von Wuntsch, Xiaojun Wei; Chapter 10 'Equipment Hypothesis' and Skills: The Case of Die and Mould-making - Japan and Ireland, Tomoko Oikawa; Chapter 11 Policy Support for SMEs - China and Europe, Esmeralda Gassie, Ju Hu; Chapter 12 The Impact of High-Speed Rail on Accessibility and House-Price Variability: The Case of Two Taiwanese Regions, David Emanuel Andersson, Oliver F. Shyr;