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Article: Asian anxieties, Pacific overtures: experiments in security for a new Asia-Pacific community.
- Article from:
- World Policy Journal
- Article date:
- June 22, 1994
- Author:
CopyrightCOPYRIGHT 1994 World Policy Institute. 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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East Asia's economies amaze outsiders with their spectacular advance. In peak years, South Korea, China, Taiwan, Hong Kong, Singapore, Malaysia, Thailand, and Indonesia have achieved annual growth rates of 10 percent or higher. For more than a decade the region's average has been above 6 percent, nearly triple the levels of Europe and the United States. Living standards for most of East Asia's people have risen sharply; the political self-confidence of their governments has risen too.
If we limit our view to purely economic factors, predictions of continued rapid growth make sense. But the East Asian miracle is highly vulnerable to non-economic shocks, especially ...