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Current Challenges

In: The Economic Rise of East Asia

Author

Listed:
  • Linda Glawe

    (University of Hagen)

  • Helmut Wagner

    (University of Hagen)

Abstract

This chapter focuses on the challenges that Japan, South Korea and China are currently facing and will face in the following decades. After a brief look at where East Asia stands today and the recent policy course, this Chapter first addresses the general challenges that affect all countries globally (demographic, climate, digital, structural, and cultural change as well as international integration). It then looks at key challenges facing specifically the East Asian countries including the risk of financial crises, the “system competition” between China and the US, the danger of a middle-/high-income trap, and challenges related to productivity/human capital weaknesses and resource scarcities. The Chapter also address the question of which country in Asia could become the next China or model of success, taking a closer look at India and Vietnam.

Suggested Citation

  • Linda Glawe & Helmut Wagner, 2021. "Current Challenges," Contributions to Economics, in: The Economic Rise of East Asia, chapter 0, pages 289-341, Springer.
    • Handle: RePEc:spr:conchp:978-3-030-87128-4_6
    DOI: 10.1007/978-3-030-87128-4_6
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