The Downsizing of Asia

Francois Godement argues that the Asian miracle has not come to an end, but rather the Asian economies have reached a crisis of maturity. He explains the reasons behind the recent financial crisis and provides a broad ranging survey of the region's economies since 1993, examining factors such as demography, Asian values, cronyism, industrial groupings and the wane of political authority. Despite widespread pessimism, the main components of healthy commercial growth for the region remian intact. Godement makes it clear that improvised self-regulation and discipline within the financial sector will prove crucial if East Asia is to realize its full potential.