Economic spaces in the Pacific Rim: A paradigm shift and new dynamics

The major purpose of this article is to examine new dynamics in the economic spaces in the Pacific Rim with regard to the recent transition of the techno-economic paradigm. The logic of the new dynamics is related to the importance of regions or places in the space of flows and in the creation and transfer of knowledge in the Internet era. It is clear that most of the flows are directional and are grounded in physical places via material flows and social relations. Place becomes even more important in the era of the digital economy, due to the need for spatial proximity in the transfer of tacit knowledge. Three major patterns can be identified. First, innovation centers and knowledge-intensive service centers have been newly developed in the Asian Pacific Rim. Second, regional innovation systems are emerging in some of the major metropolitan areas of this part of the world, while diverse types of regional innovation systems have been developed with the restructuring of existing innovation centers and newly emerging innovation clusters. Third, diverse city regions have been developed and interactions between both sides of the Pacific Rim will be strengthened through business networks and innovation networks.