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Something new is happening across East Asia. A region notable for its lack of internal economic links is discussing regional cooperation on trade, investment, and exchange rates. Because of negotiations elsewhere around the globe on regional tradesuch as those that led to the consolidation of the European Union, the formation of the North American Free Trade Area, and the rapid proliferation of bilateral free trade areasthe talk is not surprising. Nevertheless, East Asia's past inertia with regard to forming a regional partnership raises many questions about its emerging regionalism. Why...

Japan is the great economic success story of the postwar period, growing at unprecedented rates to become one of the world's most advanced industrial nations. But since the early 1970s, Asia's economic giant has had to contend with many of the problems encountered by Western economies--slower growth, increased unemployment, rapid changes in the financial and industrial sectors--problems that have permanently transformed its economy and pose crucial challenges for its leaders.

In this book, Edward J. Lincoln discusses Japan's burst of growth and the complex interplay of demographic,...