This book contains a collection of papers by Japanese and German authors dealing with the ongoing globalization process and notable fluctuations in the regional economic development in East Asia. The contributions discuss the stabilizing and destabilizing elements of the globalization process. The authors investigate the different options for economic policy to stabilize an ever more tightly interwoven world economy. In the center of the discussion are developments in East Asia and the European Union.

This study deals with changes in the Chinese development strategy since the end of the Seventies. It examines the main characteristics of the previous development policy, the reasons for the change in orientation and the new aspects that have emerged, and analyzes China's new foreign trade policy.

This study deals with changes in the Chinese development strategy since the end of the Seventies. It examines the main characteristics of the previous development policy, the reasons for the change in orientation and the new aspects that have emerged, and analyzes China's new foreign trade policy.

The economic success achieved in the last decade in East Asia has brought about a fundamental reorientation in the Western view of the region. In order to contribute to a better understanding of present events and future developments in the area, leading East Asia economists and men of experience in Asian business from Asia, America, and East and West Europe have written papers on their research or business fields for this volume. The individual articles deal with problems common to the East Asian region and the Pacific area as well as with specific economic problems of Japan, China and South Korea. The volume is divided into four parts: East Asia and the Pacific Basin includes articles on supra-national issues, for example on the international economic relations of Japan, China, Taiwan and Korea. Japan includes articles on Japanese industrial and business structure, technological policy, exports and other issues. China includes articles on structural change, economic reforms, fiscal policy, agriculture and other issues. Korea includes articles on economic and industrial policy, restructuring, protectionism and other issues. The occasion of the publication of this volume is the 70th birthday of Willy Kraus, who for many years has been actively concerned with the questions of development in the East Asian region.

The changes taking place in Eastern Europe and Asia are a particular challenge for Japan and Germany. As the immediate neighbours, they are both affected by the economic and social transformations in these regions. Yet, since they are strong economic powers, they have the potential necessary to influence developments, such that Eastern Europe and Asia advance to reciprocal advantage. This volume looks into a wide range of possible supportive measures as far as capital, labour and regulatory systems are concerned, with reference to the specific economic and historic features of Japan and Germany, taking into account the current weakness of the American dollar and the costs of reunification.

The wntmgs by Japanese and Gennan economists presented here originated against the backdrop of ongoing globalization processes and notable fluctuations in regional economic dynamics observable at the same time, primarily in the East and South East Asian area. They provided the occasion for these writers to come to tenns with globalization processes, and in particular with the stabilizing and destabilizing elements at work in them. This is the basis for their investigation of the options provided by economics and economic policy for stabilizing an ever more tightly interwoven world economy. The regional focal points of the contributions are the East Asian realm and the European Union, and the points of view are in every case both from the Japanese and the Gennan side. Questions of international competition and mechanisms of the spread of the crisis in the wake of globalization processes lie at the centre of the analyses by Hisashi Watanabe and Willy Kraus. Hisashi Watanabe focusses on the relationship, an especially important one from the Japanese perspective, between Japan and South Korea and takes up the problem of South Korea's demand that Japan should energetically promote its own transition to a service-sector-oriented society and withdraw from certain areas of manufacturing. This, it is argued, will grant Japan's Asian neighbours better chances for development and make a positive contribution to the economic stabilization of the region.