EAST-ASIAN ADJUSTMENT PROCESS AND GLOBALIZATION CHALLENGES

The author's aim was to present the East-Asian aspect of economic globalization. The article was based on studies concerning globalization and the recent history of Asia. After the World War II the greatest Asian powers, India and China, decided that the only way which would allow them to change their peripheral position and transform their economic dependency into interdependency was to overcome the asymmetric relations with the world economy and to focus on development of the domestic market. Nowadays, an economic progress in India and China is observed. The final effect of the Indian and Chinese state economic endeavors has proved compatible with the globalization process. It also constitutes a driving force behind the economic globalization. India and China have overcome their peripheral position and joined the world economy. The Asian economy has grown to the rank of a new economic center.