Asian Economic Systems provides readers with a crisp analytic
framework, concepts and narrative highlighting contemporary Asia's
systemic diversity. The framework facilitates insightful comparison
with the western neoclassical ideal. This method allows students to
easily appreciate the special virtues of various Asian economic
systems, and compare them with those offered in the west. This
objective is buttressed with background material on Asian economic
history where appropriate, together with basic data on Asian and
global economic performance to help students integrate concepts
with experience.The approach provides an objective platform for
discussing Asia's place and future in the new global order. It
makes it clear that there is no universally best economic system.
There are a variety of good systems and nations should choose the
system that best suits their cultural heritage, values and
aspirations.The approach informs discussions about the wisdom of
forming regional free trade zones, economic communities (like
ASEAN), and unions (analogous to the European Union), as well as
forging a one-world system of economic governance.Also, Asian
Economic Systems has a secondary goal. It provides the tools needed
for training students in how to apply microeconomic, macroeconomic
and financial principles to practical issues of systems and
policies. The book focuses on East and Southeast Asia. The term
Asia is used as a shorthand for the cultural region dominated
historically by Confucian kinship networks, Japanese communalism
and Theravada Buddhism, and more recently by Marxist-Leninist
communism. It excludes the Middle East, Central Asia, the Himalayan
states, South Asia, Malaysia, Indonesia, the Philippines, Russia
and America's Asia Pacific possessions.The book identifies and
elaborates four rival market systems in contemporary Asia each with
its own distinctive performance characteristics, potentials and
humanist properties: (1) communist (China, Vietnam, Laos and
Cambodia), (2) Confucian (Taiwan, Singapore, Hong Kong, and South
Korea), (3) communal (Japan), and (4) Theravada Buddhist (Thailand
and Sri Lanka). Their comparative merit is partly obscured by
differences in stages of economic development, epochal, and
conjunctural factors, but their special positive and negative
attributes are unmistakable, and are compared with North Korea's
communist command system which is the region's fifth core
alternative to democratic free enterprise.
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