... It does impose market discipline on the participants, which can be harsh, but is the mechanism that drives progress and prosperity".1 However, other opinions are held, mainly from groups who believe that it is destroying culture, and widening the poverty gap, as well as de-stabilising world economies. "If globalisation has not succeeded in reducing poverty, neither has it succeeded in ensuring stability".2 The East Asian experience with globalisation has been very mixed due to the changing economies in the region. It is not only an economically dynamic region, but also very diverse culturally and ethnically, which is why the region is susceptible to change and external influences. With countries such as Japan encountering stronger influences of capitalism through integrated markets, while transitional economies such as Cambodia, Laos, and Myanmar have not yet opened up their economies to the external markets. In this essay I will look first at the effects ...

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