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Miracle to Meltdown in Asia - Business, Government and Society (Hardcover)
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Miracle to Meltdown in Asia - Business, Government and Society (Hardcover)
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The crisis in Asia has caused economic hardship and brought an end
to the "economic miracle" of fast economic growth in the region.
This book asks whether the 1997/8 crisis marks a break with the
past and signals an end to "Asian" ways of running economies.
During the period of rapid growth there were strong connections
between governments and business in the region. "Cronyism", or
close connections between family, business, and government, was
exposed when the stock markets and currencies dived. Pressure from
overseas investors and international organizations has produced
reforms in the region. This examination of the social, economic,
and political modes of governance in the region finds that there is
a shifting balance between rule by the market, rule by connections,
and rule by force. In the sphere of economic management, it shows
that the period of the "developmental state" in Japan and Korea has
come to an end, but that it has not yet been replaced by a liberal
market. Elsewhere the close connections between governments and
business have been weakened but not yet broken. There are still
special "Asian" characteristics in economic management and in
politics.
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