The Political Effect of the Growing Gap between Rich and Poor—Research on Political Transition in East Asian Elections since the Financial Crisis

Social Sciences in China (Chinese Edition)

No.11, 2014

The Political Effect of the Growing Gap between Rich and Poor—Research on Political Transition in East Asian Elections since the Financial Crisis

(Abstract)

Zheng Zhenqing and Wu Yongping

The economic recession caused by the financial crisis of 2008 has affected various political transitions across the world. In North Africa, economic and social problems have evolved into a crisis of political order; in Europe and America, dissatisfaction with economic and social problems has triggered social turmoil. In the East Asian region, where the competitive party system had just begun, the global financial crisis initiated a politico-economic chain reaction of “economic recession—growing gap between rich and poor—electoral politics moving toward a public policy orientation.” The important electoral movements in China’s Taiwan region, South Korea, and other East Asian economies in the past five years show that although problems left by history and highly politicalized topics still exist, the question of whether to give priority to economic development or to equitable distribution has been the core issue in the parties’ election campaigns. This new electoral politics based on competing on public policy has gained more space for development against the background of economic recession and the enlarged gap between rich and poor, and has thus deeply affected the course of political and economic development in East Asia.