How To Sustain The `Asian Miracle'

For the first time in decades, there is growing economic and political uncertainty in Asia. Political risk is rising for many countries, while the rate of economic growth is falling. Currencies are under attack, and leaders find opposition rising. Some nations are hollowing out, and others are pricing themselves out of markets. No one yet thinks that the "Asian miracle" is over or that the many tigers of the Pacific Rim have lost their vitality. But the optimism expressed by many Asians may have to be tempered. It may be time to reassess old policies and move in new directions.

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