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  • December 2011
    Vol.6 No.4
    Sink or Swim:
    Can Asia Save Capitalism From the West?
    Letter to Readers
  • Cover Story
    Sink or Swim: Can Asia Save Capitalism From the West?

    The economic uncertainties that continue to grip the world over how the US and Europe will resolve their respective financial crises are front and center in the minds of policy makers worldwide. Here in Asia there is much that could be done to assist the global recovery.

    • Jeff Madrick
      The US Fiscal Dilemma: Stimulus is Needed, Austerity Means Doom

      When the US financial crisis triggered the Great Recession that afflicted much of the world in 2008-2009, policy makers in the US and elsewhere clearly understood that their economies needed massive stimulus measures, and fast.

    • Juergen von Hagen
      Europe’s Public Debt Crisis: What Will Work and What Won’t

      Even as the 17 European Union countries that use the euro agreed at a summit in Brussels in December, uncertainty persists about whether Europe is finally on a road to recovery from its debt crisis.

    • Zhang Yunling
      Emerging Force: China in the Region and the World

      China stands out as a silver lining in the clouds that hang over the global economy, and there is much the country can do to assist a recovery in the US and Europe, such as stimulating demand in its domestic economy.

    • John Berthelsen
      Will Chinese Consumers Come to the West’s Rescue?

      China's surging growth and huge domestic market have long fueled dreams that once its consumers are unleashed rising demand will help heal ailing Western economies.

    • Hyun Song Shin
      Capital Flows and Financial Stability: Lessons for Europe from Emerging Economies

      As Europe continues to reel from its financial crisis, policy-makers there would do well to cast an eye on the Asian financial crisis of 1997-1998 and other emerging market crises to avoid the pursuit of remedies that will only make things worse.

    • Choong Yong Ahn
      Can Asia Save the Sinking World Economy?

      While Asia's leading economies have been largely immune from the current European economic crisis, the long-term prospects are perilous unless the region uses its strength to assist the global economy.

  • The Debate
    Could Corruption Derail Indonesia’s Economic Growth?
    • Hal Hill
      Corruption Harms Development? It’s Not That Simple

      The key is only allowing the ‘right’ sort of corruption: Small bribes that oil the wheels of commerce for everyone are less of a problem than high-profile scandals involving officials pocketing millions of dollars.

    • Yohanes Sulaiman
      Corruption Erodes and Undermines Indonesia's Growth

      As a developing country riddled with corruption at every level, Indonesia appears to defy expectations with consistently high growth rates in recent years.

  • Features
  • Book Reviews
    • Charles K. Armstrong
      The Man Who Made Modern Korea

      Thirty-two years after his death, Park Chung Hee (1917"“1979) is currently the most revered former president in the history of South Korea. Park's popularity is largely a posthumous phenomenon.

    • John Delury, Taehwan Kim
      A Roundup of Recent Titles

      Short reviews of Water: Asia's New Battleground by Brahma Chellaney; Red Capitalism: The Fragile Foundation of China's Extraordinary Rise by Carl E. Walter and Fraser J. T. Howie; Consumptionomics: Asia's Role in Reshaping Capitalism and Saving the Planet

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