Abstract

Cold war economics melt Asia

This article focuses on the East Asia's economic troubles. With these troubles in mind, many Americans have entered the last years of the twentieth century in a mood of truly obscene jingoism. The author suggests here that the people should be extremely cautious in preaching deregulation, the superfluousness of government and the suitability of open markets for all seasons. He further says that one thing to keep in mind in discussing the so-called meltdown is that the Asian model doesn't apply evenly across East Asia. During the early eighties, when Japan's trade surpluses with the United States set new records every month and came close to destroying much of the manufacturing base of the U.S. economy, a group of foreign analysts attempted to call attention to the differences between East Asian and American capitalism.