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East Asian Economies: Westernization, Liberalization and New Regionalism

In: Trust and Antitrust in Asian Business Alliances

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  • Ivan Tselichtchev

Abstract

The outstanding economic success of Japan in the 1960s–1980s, followed by the remarkable growth of the four ‘Asian tigers’ (the economies of Taiwan, Hongkong, South Korea and Singapore) – and later the ASEAN countries, together with China – built a solid foundation for a school of thought emphasizing the advantages of the East Asian model as an alternative to Western-style capitalism. The latter may be also defined as ‘all-American’ or ‘Anglo-Saxon’. Even the critics of the East Asian model had to admit that the success of this region succeeded in making it one of the three major centres of the world economy within a very short time-span. However, after the Asian crisis of 1997–8 a new reality is emerging.

Suggested Citation

  • Ivan Tselichtchev, 2004. "East Asian Economies: Westernization, Liberalization and New Regionalism," Palgrave Macmillan Books, in: John Kidd & Frank-Jürgen Richter (ed.), Trust and Antitrust in Asian Business Alliances, chapter 2, pages 32-58, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-52357-9_2
    DOI: 10.1057/9780230523579_2
    as

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