Report on the Second Capital Mobility Reseachers’ Meeting
This meeting took place 6 months after the first researchers meeting and it was along with ATNC Annual conference in the Philippines in September 2010. Following the meeting earlier, the researchers investigated the financialisation process in two sectors namely automotive and electronics. And those findings were shared and discussed in the second meeting.
As shown in this report, the researchers have discussed the model of Asian development according to their own articulation and perspective, looking at how labours in Asia are affected by capital that is more mobile than ever in the region. Researchers identified that Asia’s electronic and automotive industries are dominated by few giants, including the Asian TNCs like Toyota, Honda, Samsung, LG. and Sony etc. where the first tier of suppliers in host countries return the profit to the mother countries via intra-firm trade of core components.
The report also shows that based on the accumulation of high profit of Asian TNCs, corporations from Japan as well as newly industrialized economies (NIEs) are replacing western domination to become main sources of outward FDI in some key Asian manufacturing industries.