1) Although China’s economic success of late is primarily a result of numerous reforms designed to transform its economy to accommodate capitalist institutions such as markets and profit, China still maintains its political structure as a communist state. How has China managed to reconcile communism with capitalism? Cite specific examples. Explain any problems or challenges China has encountered. Be specific.
2) Discuss the process of economic integration (also known as globalization) as it takes place in Asia today. Explain the important aspects of successful globalization in Asia and discuss the U.S. role in Asian economic development.
3) The Asian Newly Industrialized Countries (NICs) of South Korea, Taiwan, Hong Kong and Singapore adopted important elements of the Japanese Institutional Model. What were these policies or strategies? How did the implementation and outcomes of these borrowed strategies differ in the various NICs? 4)
Underdevelopment and poverty are still some of the most serious and challenging human problems today. Studying development models such as those of the APR impart valuable lessons and examples for developing countries to consider when putting together their own development models. What factors do policymakers in developing countries need to considers when borrowing economic policies and strategies from successful development models such as those of Japan and other APR countries? Explain.
“Traditional economic theory suggests that a high degree of governmental interference in making choices for the private sector is doomed to failure.” In light of the preceding statement, explain the success of government intervention in East Asia. Discuss the factors and conditions that contributed to the success of interventionist strategies in these economies.