China's Global Presence
Eight specialists assess China's political and economic reforms, prospects for increased Sino-American trade, China's high-tech future, Taiwan's political and economic ambitions, China's role in superpower competition and the PRC's impact on regional stability. An arresting analysis by Albert Keidel argues that there are very few conditions under which the Chinese reforms could fail. By the year 2000 he says China's economy will have easily surpassed official targets to quadruple the output of industry and agriculture. He is particularly bullish on the dynamic coastal provinces that hold nearly half of China's population.
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The logic of free trade does not apply to currency convertibility, as the Asian currency crisis should have made clear.
Conventional wisdom claims that Japan's "economic miracle" stemmed from its unique model of government guidance and its revolutionary corporate management techniques. An in-depth study proves this seriously wrong. Rampant government intervention has caused more business failures than successes, and a fundamental cautiousness has led Japanese companies to ignore strategic thinking and shun risk. To pull out of its current slump, Japan must embrace competition, innovation, and bold leadership.
