America's Economic Resurgence: A Bold New Strategy
The most original part of this book explores why and how Japan could play a major part in helping the United States get out of its difficulties. Much of the rest is a ride on the bandwagon of the rise and fall of nations, with a standard prescription (provided by now almost over the counter) for American economic recovery. Recovery, we are told, requires an improvement in world politics and maybe a recession.
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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.
China gambled that economic growth would outpace environmental harm. It lost. Fixing the resultant damage may break the stalemate in U.S.-Chinese relations.
Christopher Patten's new book goes beyond Hong Kong to offer a sensible middle ground in the debate over the link between culture and Asia's rise -- and fall.
