The Chinese Mirror
As the world begins to grapple with the creation of a new economic order, the moderating role of a third party in conflicts between the US and China will be extremely important. It is a role that will fall to Japan for Asian-Pacific issues, but to European countries on global issues.
TOKYO – The closing decade of the twentieth century offered a crystal ball for anyone peering into the future of the Asia-Pacific region. Japan’s economy, once the region’s leader, was “lost” after its asset bubble burst, whereas China overcame the economic stagnation that followed the Tiananmen Square crisis of 1989 to achieve its current path of strong growth. The debate raging 10 years ago about China’s rapid growth – whether it represents a danger or an opportunity – has now settled into broad agreement that wider regional development would be impossible without it.
TOKYO – The closing decade of the twentieth century offered a crystal ball for anyone peering into the future of the Asia-Pacific region. Japan’s economy, once the region’s leader, was “lost” after its asset bubble burst, whereas China overcame the economic stagnation that followed the Tiananmen Square crisis of 1989 to achieve its current path of strong growth. The debate raging 10 years ago about China’s rapid growth – whether it represents a danger or an opportunity – has now settled into broad agreement that wider regional development would be impossible without it.