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East Asia in Transition

East Asia in Transition: Economic and Security Challenges

A.E. Safarian
Wendy Dobson
Volume: 6
Copyright Date: 2002
Pages: 200
  • Book Info
    East Asia in Transition
    Book Description:

    Focuses on key business issues facing East Asia that corporations and governments should understand, including regionalization initiatives, obstacles to continued rapid growth in China, aging and pension reform, and the changing security environment.

    eISBN: 978-1-4426-7421-9
    Subjects: Business

Table of Contents

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  1. Front Matter
    (pp. i-iv)
  2. Table of Contents
    (pp. v-viii)
  3. Preface
    (pp. ix-xii)
    Wendy Dobson
  4. Do institutions matter for growth?
    (pp. 1-20)

    During the past three decades, East Asia has become a major growth pole in the world economy. Living standards in Japan, followed by Hong Kong, Singapore, South Korea, and Taiwan, are converging on western living standards after years of rapid economic growth. Indeed, for the past decade questions have been raised about the sustainability of these high growth rates as economies industrialized, populations urbanized and aged, and environmental costs began to mount. These questions intensified following the financial and economic crises of 1997–98. This volume, prepared once the smoke had cleared, examines key future challenges facing the region and...

  5. East Asia: A new regional player in the world economy?
    (pp. 21-48)

    East Asia has emerged as a significant growth pole in the world economy in the past 30 years. Even after the 1997–98 financial and economic crises, when growth rates slowed from their heady levels of the previous decade, East Asia including Japan still accounts for more than 20 percent of the world economy and 24 percent of world trade (Table 1). Intra-regional trade, that is, trade among the East Asian economies, accounts for 44.5 percent of its total trade (Dobson 2001: 29). The region provides a third of the world’s savings; it is host to a sixth of all...

  6. What ails China?: A long-run perspective on growth and inflation (or deflation) in China
    (pp. 49-86)

    Since 1994, China has experienced a prolonged period of declining inflation during which growth has also fallen sharply. Over much of the last three years prices have actually declined. The simultaneous reduction in growth and inflation has led many to attribute the macroeconomic problems China is now facing to the condition of weak aggregate demand. Not unexpectedly, the Chinese government has cut interest rates several times and has vigorously pursued an expansionary Keynesian spending policy in hopes of stimulating aggregate demand. However, these measures have had only limited effects. Prices in most sectors continue to fall, and output growth remains...

  7. East Asia’s ageing populations: Pension reform and its implications
    (pp. 87-136)

    Improvements in public health coupled with rising living standards have contributed to longer life expectancy around the world. With birth rates declining in many countries, the elderly dependency ratio (the number of people age 65 or older divided by the working-age population, typically between the ages of 15 and 64) is projected to climb for at least the next 50 years (Kohl and O’Brien, 1998).

    Much has been written about the impact of ageing on pension reform in the OECD economies. The purpose of this chapter is to focus on a sample of East Asian countries where the problem is...

  8. The challenges of attaining security in the Asia Pacific
    (pp. 137-178)

    Richard Solomon, current president of the U.S. Institute for Peace and former Assistant Secretary of State for East Asia and Pacific Affairs neatly captured the paradoxes underlying the analysis of Asia Pacific security.² He began by writing:

    For East Asia at large, the decades ahead hold the contradictory prospects of economic growth along with social and political disruptions that will accompany the ongoing transformations of the still-largely agricultural societies of China and Indonesia; ... the potentially destabilizing by-play throughout the region of global market forces, and perhaps ethnic and religious strife in [various] countries.

    But, then in the immediately following...

  9. Canadian business in East Asia: Better than expected
    (pp. 179-204)

    At the time the first volume in this series was published in 1995, there was much talk in the business media that Canada was “missing the boat” by not having a larger business presence in East Asia. Our initial paper assessed these concerns by examining Canada’s trade and investment position in the region and discussing the reasons why the returns to additional business there might be higher than those earned elsewhere. At the time of the Asian crisis, a period characterized by dramatic currency depreciation and contraction of economic activity, Canada was at least temporarily thankful that it had missed...

  10. About the authors
    (pp. 205-208)
  11. Institute for International Business
    (pp. 209-211)