The Economic Significance of the Pacific Asia Region in the World Economy

This chapter examines the impact that sustained rapid economic growth in the Pacific Asia region has on the international economic system. Section 1 describes the level of Pacific Asian economic performances over the period 1950–92, while section 2 analyses the nature of this performance. Section 3 looks at the effect that this economic performance has on world output, exports and imports and on international financial flows, and highlights the economic significance of this region in the world economy. Section 4 examines the impact that the economic performances of the more successful of the Pacific Asian economies has on the theory and policy of economic development. Section 5 provides some concluding comments.