Embedded autonomy in the "East Asian economic miracle" : the case of Hong Kong with special reference to banking, textile and garments, and electronics sectors

1998 ◽  
Author(s):  
Pong-wa Wai
1994 ◽  
Vol 53 (1) ◽  
pp. 124-131 ◽  
Author(s):  
Terutomo Ozawa

Structural upgrading and industrial dynamismin Pacific Asia—initially Japan, then the Asian NIEs (Newly Industrializing Economies: South Korea, Taiwan, Hong Kong, and Singapore) following closely behind, and most recently, ASEAN 4 (Thailand, Malaysia, Indonesia, and the Philippines)—have been unprecedentedly phenomenal. This regional supergrowth in industrial activities has become the center of attention, but the evolving changes in the political systems and societal structures of the Pacific Asian nations have been, no doubt, equally important, although rather subtle and not so dramatic in appearance.


Significance They are difficult to defend and therefore a tempting target. Beijing might try to seize them as a way to frighten and demoralise Taiwan's government or as preparation for an assault on Taiwan itself. Impacts A successful attack might embolden China to seize islands claimed by Japan and South-east Asian states. Western sanctions imposed in response to such an attack would be significantly more aggressive than those related to Xinjiang and Hong Kong. Japan would take the possibility of war with China more seriously and strengthen its defence capabilities more vigorously. A weak US response would shake Seoul's confidence in US protection and could make South Korea more likely to develop nuclear weapons.


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