ABSTRACT
The emergence of Taiwan and the other so-called Asian newly industrializing economies (NIEs) as important actors in the international political economy has sparked the attention of scholars, business leaders, and policymakers. 1 Several volumes have already appeared to assess the implications of the growing presence of the Asian NIEs for both the industrialized and developing world. 2 In some cases, phrases such as "the East Asia edge" have emerged to highlight the fact that the NIEs are a dynamic element in both economic and technological terms. 3 By the early 1980s, the four NIEs exported almost twice as much to the United States as did the Federal Republic of Germany and four times as much as France. And, since the mid-1980s, for example, over one-third of the dollar value of the electronics products and components imported into the United States has come from Taiwan, Mexico, Singapore, Hong Kong, and South Korea. As we enter the 1990s, the locus of trade of North America has shifted from the Atlantic to the Pacific Rim. As a result, many have come to realize that the phenomenon of the NIEs is not just a passing one. In fact, a recent Japanese publication noted that by upgrading their production and trade structures, the Asian NIEs have emerged as a new "growth axis" in Asia, transforming Asia's growth structure from a "monoaxis" led by Japan to a "multiple axis" structure.
