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Asia was probably the biggest economic sensation of the post-wardecades. The breathtaking success of Japan was followed by aremarkable rise of "four tigers", then ASEAN founder states andthen China. The Asian miracle became a commonly accepted definitionof this success. In the late 1970s and especially 80s it becameclear that the balance of power in the world had changed.Politicians, businessmen, scholars began to talk about "the newAsia Pacific age" and Asian economic model, different from and,maybe, even superior to Western capitalism. However, in 1997-98 theAsian economic crisis came and made the region a sick man. Sixyears before that Japan, the regional powerhouse entered more thana decade-long period of stagnation. The miracle was over. However,the crisis was overcome within a surprisingly short period of time.Naturally, the question arises: What now? What is going on in theregion after the miracle and after the crisis? What is today's faceof Asian capitalism and how should we view its performance? Readers interested in regional developments will find a lot ofliterature about miracle decades and crisis years. However, fewanalysts have addressed the challenging questions addressed in thisbook. The authors vividly show that Asian capitalism is undergoing aradical structural transformation. These changes are directlyaffecting its key institutions: governments, companies, laborrelations, etc. As a result Asian economic systems are becomingmuch closer to the Western-style, especially Anglo-Saxoncapitalism, though the region retains some important specificfeatures, especially regarding business culture. This book is a must for business people worldwide, for all thosewho study the region in colleges and business schools, for peopleengaged in various international activities and, finally, for allthose who want learn more about our world at the dawn of the newcentury.