Futuribles Journal n° 331

Économie, emploi

Asia Ten Years after the Crisis

Ten years have passed since the dreadful Asian economic crisis of 1997 which seemed to put a stop to the extraordinary growth of the Asian economy at the time. But after a period of readjustment - at great cost to a large part of the population because of the lack of a social security safety-net - Asia in 2007 is once again the most dynamic region in the world.
Jean Raphaël Chaponnière looks back over the decade: after a short account of the history of Asia's growth over the long term, he recalls what led to the 1997 crisis, what the consequences were for the major countries in the region (South Korea, Indonesia, Thailand, China, Japan...) and how they coped with it. He also assesses the situation in 2007, showing how China seems to have overtaken all its neighbours (aside, perhaps, from Japan) in terms of its international economic and political standing.
Lastly, he discusses the prospects for Asian growth over the next 10 to 15 years: the economic dynamism of China looks likely to continue to have a positive effect on Asia as a whole, despite some concomitant damage, especially to the environment. He also examines Asian growth in the context of globalization and its impacts on the West (Europe, United States).

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