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Lookup NU author(s): Professor Barry Gills
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The debate over the East Asian crisis has thus far been led by economists who have focused on technical economic issues and policy goals at the expense of macro historical-structural questions. Foremost amongst the neglected questions is whether and under what conditions 'Postwar East Asian Capitalism' (PWEAC) will either continue to flourish or undergo a radical political transformation 'after the crisis'. This question must be understood in the context of the changing geopolitical framework of the post-Cold War era. PWEAC is under great pressure for reform from both external and internal forces. Whether a 'new political architecture' for capitalism in East Asia is emerging is the central issue and one which will determine the future direction of Asia. The demise of authoritarian-oligarchic capitalism in Asia may have been accelerated by the economic crisis. The most enduring result of the Asian crisis is not the presumed derailing of the (re)ascent of Asia in the world economy but rather the weakening of the non-democratic state forms that have characterized East Asia's capitalism for decades. Popular demands for change represent a real challenge to both the domestic authoritarian-oligarchic power structure of PWEAC and its crucial geopolitical underpinning and external orientation.
Author(s): Gills BK
Publication type: Article
Publication status: Published
Journal: Review of International Studies
Year: 2000
Volume: 26
Issue: 3
Pages: 381-403
ISSN (print): 0260-2105
ISSN (electronic): 1469-9044
URL: http://dx.doi.org/10.1017/S0260210500003818
DOI: 10.1017/S0260210500003818
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