PROSPECTS AND PROBLEMS FOR THE ADVANCED INDUSTRIAL ECONOMIES OF THE ASIA-PACIFIC AREA

It is widely noted that the Asia-Pacific area, especially the developing economies in this region, have made an extremely favorable impression on the world scene but are possibly fading a bit at this time. The fading could well be cyclical but no area (or single country) maintains a blistering pace of development forever, and there is likely to be some relaxation of performance characteristics whether they be inflation or growth or current account surpluses, or many other indicators of well being, either economic or more broadly social…