Hyun-Hoon Lee and Donghyun Park - Post-COVID Asia: Deglobalization, Fourth Industrial Revolution, and Sustainable Development

This insightful and timely book deals with the formidable post-COVID challenges facing Asia. The fresh perspective of two prominent Asian economists outlines the critical challenge of achieving sustainable development at a time of growing deglobalization pressures. The book is well written and offers illuminating case studies as well as constructive, concrete guidance for a better future. It is essential reading for policy-makers, scholars, and practitioners.

Joshua Aizenman
Robert R. and Katheryn A. Dockson Chair in Economics and
International Relations and Professor of International Relations and
Economics
University of Southern California

The though-provoking book by Professor Lee and Dr Park takes a strategic geopolitical look at Asia, its place in the world, and its prospects at a time of ever-accelerating digital transformation amid the unprecedented global shock of the COVID-19 pandemic. Their timely book offers Asia a clear blueprint for coping with game-changing trends such as deglobalization (a trend likely reinforced by COVID-19) and the Fourth Industrial Revolution. Against this turbulent background, the authors examine how the region can address the global challenge of climate change and the related imperative of sustainable development. This book is a must-read for all strategic thinkers interested in the most transformative forces shaping the Pale Blue Dot we all share!

Erkko Autio
Professor in Technology Venturing and Entrepreneurship
Imperial College London

COVID-19 changes everything, or so it is said. In this important book, Lee and Park ask how it will change the global economic landscape and how Asian countries should respond. New thinking about the effects of the pandemic is crucial, and the authors are quick off the mark.

Barry Eichengreen
George C. Pardee Professor of Economics and Political Science
University of California, Berkeley

This important contribution by Professor Lee and Dr Park explores how Asian economies can prosper in the post-COVID world. Deglobalization is a serious concern for the region. However, if Asian economies assume a leading role in the Fourth Industrial Revolution, they can bring about a Pax Asiana that will benefit not only Asia but the whole world. The authors views may challenge conventional wisdom, but they nevertheless provide a plausible blueprint for Asias sustainable development in these troubling times.

Shin-ichi Fukuda
Professor, Economics Department
University of Tokyo

Hyun-Hoon Lee and Donghyun Park present a comprehensive, credible, and forward-looking examination of the global and regional implications of the pandemic. They advance a wide range of policy options to take advantage of the opportunities brought by the pandemic. Their book is a valuable reference for policy-makers, academics, and general readers who would like to better understand the post-COVID world economic challenges and what they mean for Asia.

M. Ayhan Kose
Director, Prospects Group, Equitable Growth,
Finance and Institutions
World Bank Group

COVID-19 has profound ramifications for Asia and the world. The pandemic is likely to accelerate deglobalization, which is bad news for a region that benefited hugely from globalization. However, Lee and Park argue that Asian countries can turn this daunting crisis into promising opportunities. To do so, they must further strengthen their economic links with each other while keeping their doors open to the wider world. In addition, they will have to be leaders, not just bystanders, of the Fourth Industrial Revolution, which is reshaping the global technological landscape. Working closely together, Asian countries can spearhead a new golden age of globalization. If successful, they have every chance of leading the global fight against climate change, poverty, and other challenges to achieve sustainable development and prosperity in the post-COVID-19 world.

Justin Yifu Lin
Dean, Institute of New Structural Economics, Peking University
Former Chief Economist, The World Bank

A timely and comprehensive account of the challenges and opportunities facing Asia in these uncertain times. This book is a must-read for anyone pondering the critical choices Asia must make to adjust to COVID-19, ride the next wave of globalization, take advantage of new technologies, and invest in the livelihood of its people. It is time for Asia to be in the drivers seat and Hyun-Hoon Lee and Donghyun Park lay out how.

Changyong Rhee
Director of the Asia and Pacific Department,
International Monetary Fund
Former Chief Economist, Asian Development Bank