A future imperfect: Remaking a regional economy
It is better to be vaguely right than precisely wrong.
Obituaries to the ‘Asian economic miracle’ published in the wake of the financial crisis, and self-congratulatory proclamations of the ‘triumph of Western capitalism,’ obscure a fundamental restructuring of economic and political relationships in East and Southeast Asia since 1997–98. Most notably, widespread perceptions that the IMF had acted as a ‘creditor cartel, not an institution sensitive to its members' needs’ (Dieter and Higgot, 2000) reversed long-standing apprehensions regarding closer regional economic integration among governing elites.
Abiding animosities against the Japanese for their colonial occupation ...