Abstract
As the Single European Market (SEM) develops into an economic reality it is inevitable that this will have an impact on the world economic order. Although Europe has for many years been a loose affiliation of countries belonging to the European Community (EC), and the European Free Trade Association (EFTA), as well as the CMEA, nothing compares with the coherence which ‘1992’ and the Single European Market Act has begun to initiate. The wider market which the EC has now become, although not fully exploited by all firms to date, offers new potential for European companies to expand and raise their stature on a global scale. Similarly, the SEM represents both a threat and an opportunity to non-European firms, including the disparate enterprises of Asia-Pacific. However, it is necessary to recognize at the outset that many of the Europe-related threats and opportunities exist irrespective of the SEM. Since there is sometimes confusion in this regard, this issue will be dealt with first.
The Pacific Review, Vol. 4, No. 4, 1991, pp. 368–74 (reprinted by permission).
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Notes
Kenichi Ohmae, Triad Power (New York: The Free Press, 1985).
EC, The European Community’s Relations with ASEAN (Brussels: European Information, Commission of the European Communities, 1991).
EC, The European Electronics and Information Technology Industry: State of Play, Issues at Stake and Proposals for Action (Brussels: DG XIII, Commission of the European Communities, 1991).
For various aspects of the issues involved see, Paolo Cecchini, 1992: The Benefits of a Single Market (London: Wildwood House, 1988);
Nicholas Colchester and David Buchan, Europe Relaunches: Truths and Illusions on the Way to 1992 (London: Economist Books, 1990);
John Dunning, ‘European Integration and Transatlantic Foreign Direct Investments: The Record Assessed’ (Paper presented at the UK Academy of International Business, 6–7 April 1990, Strathclyde University);
John Dunning, ‘A Survey of the European Community: an Expanding Universe’, The Economist, 7 July 1990;
John Burton, ‘Single Market Changed Swedish Priorities’, Financial Times, 21 February 1990;
John Burton, ‘The New Rush to Europe’, Business Week, 26 March 1990.
Michael E. Porter, The Competitive Advantage of Nations (London: Macmillan Press, 1990).
See JETRO, Current Situation of Business Operations of Japanese-Manufacturing Enterprises in Europe (Tokyo, 1990)
BOT, ‘Structural Changes in South Korean Economy’, (Bank of) Tokyo Financial Review, June 1990.
Peter Drysdale, International Economic Pluralism: Economic Policy in East Asia and the Pacific (Sydney and London: Allen and Unwin, 1988);
Achim von Heynitz, Some Guidelines for an European Policy Towards the Asian Newly Industrializing Economics (Ebenhausen: Stiftung Wissenschaft und Politik (SWP), 1989).
These figures were calculated from BIS (1991) Bank for International Settlements: 61st Annual Report, Basle;
Asian Development Bank (1990), Key Indicators of Developing Asian and Pacific Countries, Manila;
UBS (1991) ‘Eastern Europe: Waiting for a Market’, UBS International Finance, Spring, 1991.
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© 1995 Peter J. Buckley
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Buckley, P.J. (1995). Europe 1992 and its Impact on Pacific Futures. In: Foreign Direct Investment and Multinational Enterprises. Palgrave Macmillan, London. https://doi.org/10.1057/9780230378513_9
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DOI: https://doi.org/10.1057/9780230378513_9
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