ABSTRACT
This chapter focuses on the competing strategies adopted by particular members of the Pacific community in their pursuit of the individual goals of growth, order, and security. Economic production entails a combination of factors, including capital, labor, technology, raw materials, and management supervision. The efficacy of the market and the benefits of free trade based on comparative advantage have been challenged by some analysts. The classical arguments about comparative advantage and free trade have also been criticized by analysts who adopt the statist theory. Among the Asia Pacific countries, Burma and Vietnam have been marked to the greatest extent by an inward-looking political economy. For South Korea and Taiwan in the 1960s, the need for economic adjustments in view of the upcoming termination of US aid and the concomitant heavy lobbying by US economic advisers further encouraged the outward economic turn.
