| Abstract: | Abstract: Through reviewing South‐East Asia’s recent economic engagement with the global economy, this paper points to profound recent transformations in the scope and character of the region’s development. Foreign direct investment was the key driver of regional growth in the pre‐1997 period, yet currently, the region faces a more difficult and multifaceted economic arena from which to attract such funds. Foreign direct investment is more selective, both geographically and by sector, than was the case in that earlier period. This paper explains the confluence of economics, business practices and politics that are giving rise to these outcomes, and concludes from this that development trajectories in South‐East Asia will become more diverse between the countries of the region, with implications for how we understand regional economic performance. |
