Resurgent Asia: Diversity in Development by Deepak Nayyar, New Delhi: Oxford University Press, 2019; pp xx + 295, ₹ 895.
Asian Transformations: An Inquiry into the Development of Nations edited by Deepak Nayyar, Oxford: Oxford University Press, 2019; pp xxiv + 577, price not indicated.
Asia’s Journey to Prosperity: Policy, Market, and Technology Over 50 Years by Asian Development Bank, Manila: ADB, 2020 (ebook), http://dx.doi.org/10.22617/TCS190290.
In today's Taiwan one comes across a confident economic society. What is at stake is the Taiwanese polity, not because of any internal weaknesses but because the international situation has put a big question mark over its survival. There is a political discourse in Taiwan which is very close to cold war rhetoric. The counterpoint is still 'Communist China'. The logic of this situation is that the US will have an interventionist presence in the Taiwan Straits, which makes the future of the area, not just of Taiwan, far from easy to predict.
With ever increasing linkages to the global economy, China is beset by the dilemma of decentralisation. Gradual devolution of power to the provinces and the localities, once seen as an avenue to build up power, now appear as a chaotic mesh of competing markets. The challenge must be to bring on re-centralisation; at the same time, new forces need a secure base to help strengthen China's claims as a global power.
This essay deals with the saving and investment trends in the east Asian economies. They generated high rates of saving and used the resources productively. The high rates of saving reflect high rates of both private saving and public sector saving. The high investment rate was not only due to high saving rate, but also a relatively high level of inflow of foreign direct investment in some, backed by the policy of openness to trade and investment.
