ABSTRACT
Basic statistical analysis indicates that as a gauge of future trends, undue emphasis has probably been placed on East Asia’s relatively economic gains. Indeed, predictions of an ‘Asian Century,’ along with all its associated threats and opportunities for the rest of the world, simply may not come true. The economic logic behind the presumption of an ‘Asian Century’ is highly contentious. There are several pertinent reasons for promoting an integrated set of counterarguments to the rosy scenario of continued, progressive economic development in Asia. The most seductive arguments supporting the optimistic expectations for East Asia’s development raise thorny issues relating to the presumed capacity of these economies to sustain growth rates. Stock markets in East Asia have exhibited a considerable amount of volatility that should generate serious questions about their integrity and their long-term viability. The chapter also presents an overview of the key concepts discussed in this book.
