International Economic Pluralism
Overview"International Economic Pluralism" explores the question of commercial diplomacy raised by the outward-looking trade and industrial development policies adopted by the fast-growing economies of East Asia. It seeks to establish the relationship between the regional and global economic interests of countries in East Asia and the Pacific. It reviews the nature and progress of interest in Pacific economic co-operation arrangements. The Pacific is the fastest-growing region in the world economy. East Asia's share of the world gross national product doubled in the two decades after 1962; similarly, per capita incomes in Japan, Hong Kong, Korea and Taiwan also doubled. Some of the growth and redirection of Pacific countries' trade is due to the changing relative importance of the region in world trade, while the rest is attributable to strengthening complementarities and special connections in trade among these countries. Throughout East Asia, economic growth has been closely associated with, and facilitated by, outward-looking economic policies. This book is an analysis of this major contemporary economic phenomenon. As the first survey of the most dynamic region of the world economy, it should become a standard work. Peter Drysdale is the Director of the Australia-Japan Research Centre at the Australian National University and the author of many studies of the economies of the East Asian and Pacific region.