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Article: Pacific Basin: restoring U.S. economic leadership. (The Economy of the Pacific Basin)
- Article from:
- Business Economics
- Article date:
- April 1, 1994
- Author:
CopyrightCOPYRIGHT 1994 The National Association for Business Economists. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The average 8 percent real growth of the Pacific Basin's developing economies continues unabated into 1994, notwithstanding continued recession in Japan and western industrial nations. China, currently sustaining a 13 percent growth rate, remains the Basin's economic engine. Its voracious industrial, consumer and infrastructure demands attracted record imports and foreign capital inflows in 1993. Region-wide, infrastructure shortages and burgeoning consumerism are creating unique and unprecedented opportunities for many competitive U.S. sectors, while Japanese firms remain handicapped by a high yen and troubled financial conditions. With better supported export promotion, ...