Asia rising, Asia falling?
July-September 2017
By: Andrew Phelan

Recent statements from the Chinese leadership have decried the idea of an independent judiciary as a Western concept, and herein lies the dilemma facing China in its next phase of development. To get to the next stage, it simply can’t have its cake and eat it too. To plot the next, more difficult, phase will require a new level of creativity and imagination. It’s going to be fascinating to watch.

An aging Asia

Auslin splits the chapter on demographic risk in three. Japan, which has too few people; China which used to have too many people and is going to end up with too few of working age as it races the clock to get rich before it gets old; and India and much of Southeast Asia, which have too many people.

Japan’s demographic risk

Japan was the first Asian nation to industrialize and match or surpass the best of the West that enjoyed a post-World War II dream run, which came to a screeching halt in the early l990s, and has endured more than two decades of next to no growth since. South Korea, which struggles to reconcile the power of chaebol economics and its political system, like Japan faces challenges to refresh its economy now that it has entered the rich club.

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