The Economic and Strategic Rise of China and India : Asian Realignments after the 1997 Financial Crisis

This book demonstrates the connection between economic and strategic developments in Asia with several, interrelated arguments. India is close behind, and warns that while many observers are proceeding as if current U.S. treaties will continue indefinitely, Asia is already preparing for changing patrons.

Important economic and strategic realignments are taking place in Asia but receiving relatively limited press and academic attention. Thailand, Indonesia, and South Korea were dealt, well publicized, blows by the 1997 Asian financial crisis and Japan''s stagnation in the 1990s has also been widely analyzed. What has not been adequately explored is the impact of economic restructuring and slowing of growth rates in the other Pacific Rim economies, notably Taiwan, Hong Kong, Malaysia, and Singapore. Although China''s rise to prominence has received extensive commentary from journalists, economists and strategic analysts, much more limited attention has been given to the relative decline of the Pacific Rim states or the rapid rise of India''s economic and strategic position. This volume attempts to explain why the 1997 financial crisis was such a critical turning point and, unexpectedly, ended up stimulating trade and investment within Asia.