Whatever happened to the Pacific Century?

Review of International Studies

Volumn 25, Issue 5, 1999, Pages 245-269

  Foot, Rosemary ^a   Walter, Andrew ^a  

^a NONE

Author keywords

[No Author keywords available]

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EID: 85015353438     PISSN: 02602105     EISSN: 14699044     Source Type: Journal    
DOI: 10.1017/S0260210599002454     Document Type: Article

References (63)

1. Myrdal, The Asian Drama: An Inquiry into the Poverty of Nations (New York: Twentieth Century Fund, 1968).
2. Ezra F. Vogel, Japan as Number One: Lessons for America (Cambridge, MA: Harvard University Press, 1979).
3. For example see Roy Hofheinz and Kent E. Calder, The East Asia Edge (New York: Basic Books, 1982).
4. World Bank, The East Asian Miracle: Economic Growth and Public Policy (Washington DC: World Bank, 1993), p. 2.
5. Chalmers Johnson, MITI and the Japanese Miracle (Stanford, CA: Stanford University Press, 1982);
6. Robert Wade, Governing the Market (Princeton, NJ: Princeton University Press, 1990);
7. Alice Amsden, Asia's Next Giant: South Korea and Late Industrialization (New York: Oxford University Press, 1989);
8. E. Vogel, The Four Little Dragons: The Spread of Industrialization in East Asia (Cambridge MA: Harvard University Press, 1991).
9. Notably James P. Womack, et al., The Machine That Changed the World (New York: Rawson Associates, 1990).
10. Ronald Dore, Taking Japan Seriously: A Confucian Perspective on Leading Economic Issues (London: Athlone, 1987).
11. See Stephan Haggard, Pathways from the Periphery (Ithaca, NY: Cornell University Press, 1990);
12. Peter Evans, Embedded Autonomy (Princeton, NJ: Princeton University Press, 1995).
13. World Bank, World Development Indicators 1998 (Washington DC: World Bank, 1998; CD-Rom). The Gini index measures the extent to which the distribution of income (or, in some cases, consumption expenditures) among individuals or households within an economy deviates from a perfectly equal distribution. An index of zero represents perfect equality and an index of 100 implies perfect inequality.
14. Two similar versions of this argument are Kishore Mahbubani, ‘The Dangers of Decadence: What the Rest Can Teach the West’, Foreign Affairs, 72:4 (1993) and.
15. Bilahari Kausikan, ‘Asia's Different Standard’, Foreign Policy, 92 (Fall 1993).
16. P. L. Berger and H.-H. Hsiao, In Search of an East Asian Development Model (New Brunswick: Transaction Books, 1987).
17. Elegant's Pacific Destiny (1990)
18. quoted in Alexander Woodside, ‘The Asia-Pacific Idea as a Mobilization Myth’ in Arif Dirlik (ed.) What is in a Rim? Critical Perspectives on the Pacific Region Idea (Lanham, MD: Rowman and Littlefield, 1998), p. 38.
19. For a discussion, see C. Fred Bergsten and Marcus Noland, Reconcilable Differences? United States-Japan Economic Conflict (Washington DC: Institute for International Economics, 1993).
20. Robert Gilpin, ‘International Politics in the Pacific Rim Era’, in Annals of the American Academy of Political and Social Science, 505 (September 1989), p. 67.
21. Richard N. Rosecrance, The Rise of the Trading State (New York: Basic Books, 1985).
22. See Louise Fawcett and Andrew Hurrell (eds.), Regionalism in World Politics (Oxford: Oxford University Press, 1995).
23. See Rudiger Dornbusch, ‘The Dollar in the 1990s: Competitiveness and the Challenges of New Economic Blocs’, in Monetary Policy Issues in the 1990s (Kansas City, MO: Federal Reserve Bank of Kansas City, 1989).
24. Quoted in Mark T. Berger and Douglas A. Borer (eds.), The Rise of East Asia: Critical Visions of the Pacific Century (London: Routledge, 1997), p. 1.
25. Michael Borrus and John Zysman, ‘Industrial competitiveness and American national security’, in Wayne Sandholtz et al., The Highest Stakes (New York: Oxford University Press, 1992).
26. Robert O. Keohane and Joseph S. Nye, Power and Interdependence: World Politics in Transition (Boston, MA: Little, Brown, 1977).
27. Robert Gilpin, The Political Economy of International Relations (Princeton, NJ: Princeton University Press, 1987), pp. 337, 338.
28. On this question, see Dennis J. Encarnation, Rivals Beyond Trade: America versus Japan in Global Competition (Ithaca, NY: Cornell University Press, 1992).
29. Kim Dae Jung, ‘A Response to Lee Kuan Yew—Is Culture Destiny? The Myth of Asia's AntiDemocratic Values’, Foreign Affairs, 73, Nov./Dec. 1994.
30. For a similar point, see Amartya Sen, ‘Our culture, their culture’, New Republic, 1 April 1996, pp. 27-34.
31. Aung San Suu Kyi, ‘Freedom, Development and Human Worth’, Journal of Democracy, 6:2 (1995), p. 15.
32. Stephan Haggard, Pathways from the Periphery (Ithaca, NY: Cornell University Press, 1990), ch. 10.
33. See also Svante Ersson and Jan-Erik Lane, ‘Democracy and Development: A Statistical Exploration’ in Adrian Leftwich (ed.) Democracy and Development (Cambridge: Polity Press, 1996).
34. Daniel Okimoto, Between MITI and the Market (Stanford, CA: Stanford University Press, 1989).
35. Paul Krugman, ‘The Myth of Asia's Miracle’, Foreign Affairs, 73 (1994), pp. 62-78.
36. This article publicized work by Young and others (see A. Young, ‘The Tyranny of Numbers: Confronting the Statistical Realities of the East Asian Growth Experience’, Quarterly Journal of Economics, 110:3 (1995), pp. 641-680.
37. World Bank, The East Asia Miracle, ch. 1.
38. The East Asia Miracle, p. 16.
39. See Robert Wade, ‘Japan, the World Bank, and the Art of Paradigm Maintenance: The East Asian Miracle in Political Perspective’, New Left Review, 217 (May-June 1996), pp. 3-36.
40. OECD, Economic Outlook, June 1998 (Paris: OECD, 1998).
41. See R. Garnaut and Peter Drysdale (eds.), Asia-Pacific Regionalism (Pymble: Harper Educational, 1994).
42. Mark Borthwick, Pacific Century: The Emergence of Modern Pacific Asia (Boulder, CO: Westview Press, 1992) p. 513.
43. See Michael Leifer, The ASEAN Regional Forum: Extending ASEAN's Model of Regional Security, Adelphi Paper no. 302, (London: IISS, 1996);
44. Rosemary Foot, ‘China in the ASEAN Regional Forum: Organizational Processes and Domestic Modes of Thought’, Asian Survey, 38:5 (May 1998), pp. 425-440.
45. For more detail, see Andrew Walter, ‘Regionalism, Globalization, and World Economic Order’, in L. Fawcett and A. Hurrell (eds.), Regionalism in World Politics (Oxford: Oxford University Press, 1995), pp. 74-121.
46. IMF, International Capital Markets (Washington, DC: IMF, 1998), ch. 2.
47. Charles Kindleberger, Manias, Panics, and Crashes: A History of Financial Crises (London: Macmillan, 1990), provides an historical overview of the susceptibility of financial markets to such conventional wisdoms.
48. Robert Wade and Frank Veneroso (1998).
49. ‘The Asian Crisis: The High Debt Model Versus the Wall Street-Treasury-IMF Complex’ New Left Review, 288 (March/April 1998), pp. 3-23;
50. Ha-Joon Chang, ‘The Hazard of Moral Hazard’, Financial Times, 7 October 1998.
51. IMF, International Capital Markets, 1998, p. 31.
52. World Bank, The East Asia Miracle, p. 16.
53. IMF, International Capital Markets, 1998, p. 34.
54. See Jenny Corbett and David Vines, ‘The Asian Crisis: Lessons from the Collapse of Financial Systems, Exchange Rates, and Macroeconomic Policy’, forthcoming in Richard Agenor, Marcus Miller, David Vines and Axel Weber (eds.), The Asian Financial Crisis (Cambridge, UK: Cambridge University Press, 1999). As Figure 2 shows, portfolio flows have also proved highly volatile, but as with FDI, they do not raise the same threat of default as does international bank lending in hard currencies.
55. Sen, ‘Our Culture, Their Culture’, p. 32.
56. Lee in Time Magazine 16 March 1998, and quoted in François Godemont, The Downsizing of Asia (London: Routledge, 1999) p. 107.
57. This point is made by Stephan Haggard, ‘Business, politics and policy in East and Southeast Asia’, in Rowen, Behind East Asian Growth.
58. IMF, International Capital Markets, 1998, p. 17.
59. Minxin Pei, ‘Constructing the political foundations of an economic miracle’, in Rowen, Behind East Asian Growth, pp. 45-46.
60. See Nicholas Lardy, China's Unfinished Economic Revolution (Washington DC: Brookings, 1998), pp. 193-203.
61. Gareth Porter, ‘The Environmental Hazards of Asia Pacific Development: The Southeast Asian Rainforests’, in Current History, 422 (December 1994), pp. 430-434.
62. Susan Strange, States and Markets (London: Pinter, 1998), pp. 24-29.
63. A recent series of articles assessing the American century is contained in Diplomatic History 23:2 and 3 (Spring/Summer 1999).