Until very recently it was assumed that the Asian miracle of prodigious economic growth would continue indefinitely. Europe and America, it seemed, were being left behind. The recent financial crisis in Asia has now changed all that.
François Godement provides a broad-ranging survey of the regions economies since 1993 and explains the main reasons behind the recent financial crisis. He also examines important factors such as demography, Asian values, crony capitalism, industrial groupings and the wane of political authority.
The Asian miracle has not come to an end, but the author makes clear that improved self-regulation and discipline within the financial sector will be crucial if the economies of the region are to weather the uncertainties of the marketplace in the future and realize their full potential.

François Godement is a Senior Research Associate at the Institut Français des Relations Internationales, Paris. He is also the author of The New Asian Renaissance.

Chapter 1 Introduction; Chapter 2 An explanation of the 1997 Asian Crash; Chapter 3 Asia, meet the rescue Part y; Chapter 4 Asian values, minus the debate; Chapter 5 The challenge to Asian identity; Chapter 6 Challenging Asian politics; Chapter 7 A Faustian deal for Asia?; Chapter 8 Conclusion;