Abstract
Preoccupied with political challenges in Europe and the Middle East and with economic competition from Japan, most Americans are ignoring a powerful longer-term trend in Southeast Asia: the rise of the Greater China economy. Paced by a rapid rate of investment and given the abundance of trained human capital, the Asian rim has become the fastest growing part of the world, averaging over five percent a year in real economic growth. That trend is generally expected to continue at least for the rest of this decade and perhaps well into the twenty-first century.1
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Notes
This paper draws from Murray Weidenbaum, “The Shifting Roles of Business and Government in the World Economy,” Challenge, January/February 1993, pp. 1–6.
“The Chinese Diaspora: The Fifth ‘Dragon’,” Conjoncture, November 1992, pp. 155–160.
Richard Waters, “Japanese Banks Step Up Pace of International Withdrawal,” Financial Times, November 13, 1992, p. 23.
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Joel Kotkin, Global Tribes: Understanding the New Economic Paradigm (Denver: Center for the New West, 1992)
Joel Kotkin, “China Dawn: A Rising Economic Power Is on the Horizon,” Washington Post Weekly, October 12, 1992, p. 23.
I am indebted to Professor William C. Jones of the Washington University School of Law for this point.
“Shanghai Joint Venture,” China Morning Post, December 11, 1992, p. HS 1
Paul Mooney, “At China’s Crossroads,” Far Eastern Economic Review, November 19, 1992, p. 66
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David H. T. Lan, “Hong Kong in the Year 2000,” Nikkei Weekly, October 26,1992, p. 14.
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Lan, “Hong Kong,” p. 6
Kevin Rafferty, “A Serious Case of Mainland Fever,” Emerging Markets, September 23, 1992, p. 50.
Quoted in Louis Kraar, “A New China Without Borders,” Fortune, October 5, 1992, pp. 124–125.
Harold Bruning, “Macao to Hold 51 pc Stake in Airport,” Hong Kong Standard, December 10, 1992, p. 19.
Olin L. Wethington, Capital Flows, Investment, and Growth, A Presentation to the Pacific Economic Cooperation Council, San Francisco, California, September 24, 1992, p. 2.
Robert S. McNamara, “A New International Order and Its Implications,” A Paper presented to the Tokyo Conference on Arms Reduction and Economic Development in the Post-Cold War Era, United Nations University, Tokyo, Japan, November 4, 1992, p. 4.
Charles Wolf, “Why Asia-Pacific Holds the Cards,” The New York Times, January 17, 1993, p. F-13. Wolf is director of economic research at the Rand National Defense Research Institute.
This section draws heavily from Philippe Dollinger, The German Hansa (Stanford: Stanford University Press, 1970).
Dan Cordtz and Richard Meyer, “Inside China Today,” Financial World, December 8, 1992, pp. 36–51.
Richard McKenzie and Dwight Lee, Capital Mobility: Challenges for Business and Government (St. Louis: Washington University, Center for the Study of American Business, 1991).
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© 1996 Kluwer Academic Publishers
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Weidenbaum, M. (1996). Greater China: The Next Economic Superpower. In: Batterson, R.A., Chilton, K.W., Weidenbaum, M.L. (eds) The Dynamic American Firm. Springer, Boston, MA. https://doi.org/10.1007/978-1-4613-1313-7_6
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DOI: https://doi.org/10.1007/978-1-4613-1313-7_6
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