Focuses on trading, investment and commercial policy practices of Japan, South Korea and Taiwan, with chapters on U.S. trade interests and on regionalism. Contains high-quality empirical economics.
American political and business leaders need to capitalize on a groundswell of democratic and market-opriented reforms underway in this oft-neglected region in the world. "Washington must discard its Cold War approach to relations with south Asia and stop viewing the region primarily in terms of its potential threat to U.S. interests"; a rapidly growing south Asian middle-class is creating one of the "world's most important emerging markets" and bolstering regional stability.
No, it is not a silly question -- merely one that is not asked often enough. Odd as it may seem, the country that is home to a fifth of humankind is consistently overrated as an economy, a world power, and a source of ideas. Economically, China is a relatively unimportant small market; militarily, it is less a global rival like the Soviet Union than a regional menace like Iraq; and politically, its influence is puny. The Middle Kingdom is a middle power. China matters far less than it and most of the West think, and it is high time the West began treating it as such.
In less than five years Japan will have a population profile like Florida's. Indeed, Japan's population is aging faster than that of any other country. A future with only two workers for each retiree will force radical change. It will shrink savings, turn the trade surplus to deficit, and drive more industry overseas. These demographic and economic factors will push Japan toward an increasingly independent foreign policy, causing friction with America. Tokyo and Washington must seek new arrangements cognizant of a maturing Japan.
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