ABSTRACT
One approach has been what might be called extended bilateralism, that is, the proposed strategy involves extending successful and appropriate bilateral relationships to the entire Pacific Basin. The return of overseas Chinese to the new industrial park in Hsinchu is a new phenomenon and may lead the Pacific world into the age of high technology. ASEAN and especially the NICs will take part actively. The Chinese price system can be a troublesome issue for the whole Pacific Basin. The vitality of the Pacific Basin is due to the fact that it does not have a charted course. It has been developing while post-world war economy has been deteriorating. The Pacific region is looking forward rather than back, but it is trapped in the conventional thinking regarding technology and other issues. The impact of high technology in the Pacific region has been underestimated. The technical revolution means that a country may have another's budget on a computer.
