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Sprawled along China's southern coast near Hong Kong, Guangdong is the fastest growing and most envied region in the country. With sixty million people in an area the size of France, the province has been a fascinating laboratory for the transformation of a static socialist economy and social system. Reforms instituted in the late 1970s by Deng Xiaoping have allowed this area to look outward once again and to move "one step ahead" of the rest of China and the socialist world in introducing new political and economic policies. Why did the new strategy come about? What happened in the...

Japan and the four little dragons--Taiwan, South Korea, Hong Kong, and Singapore--constitute less than 1 percent of the world's land mass and less than 4 percent of the world's population. Yet in the last four decades they have become, with Europe and North America, one of the three great pillars of the modern industrial world order. How did they achieve such a rapid industrial transformation? Why did the four little dragons, dots on the East Asian periphery, gain such Promethean energy at this particular time in history?

Ezra F. Vogel, one of the most widely read scholars on Asian...

Two powers in East Asia today stand to define the region's economic and commercial future: Japan, which rose in a spectacular industrial burst to become at present the world's second largest economy; and China, which is rapidly advancing towards a market economy under the watchful eye of the world.

While much has been made of Japan and China's particular economic institutions and developmental paths, few works analyze them in a comparative framework. Including contributions from leading academics, the text focuses on the period from the 1980s to the onset of the 2000s, reviewing...