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This book deals with the major problems that Japan and East Asian countries have faced during the turbulent years of their reconstruction and development from 1945 to the present time. The Development Report of the World Bank 1993 on the same subject was given the subtitle East Asian Miracle. I have never thought, however, that the impressive achievement of East Asian development was a miracle in any sense. Indeed, as this book tries to show, Japanese and Asian development has been the fruit of the sweat, tears, and blood of all East Asian nations. The efforts and sacrifices involved in the process of their development after World War II are no less than those during the war itself. One should not overlook the fact that almost all the peoples of East Asia have achieved not just economic development but indeed new nation-building after hundreds of years of coloni al submission. It is my assertion in this book that even economists' analyses of Asian development should pay attention to not only the logos but also the pathos of develop ment in this last half of twentieth century. Ever since I became the director of the Center for Southeast Asian Studies at Kyoto University in 1969, I have written extensively in English as well as in Japanese on the various problems arising in the Japanese and other Asian economies.
This book is a history of the Asian Development Bank (ADB), a multilateral development bank established 50 years ago to serve Asia and the Pacific. Focusing on the region’s economic development, the evolution of the international development agenda, and the story of ADB itself, this book raises several key questions: What are the outstanding features of regional development to which ADB had to respond? How has the bank grown and evolved in changing circumstances? How did ADB’s successive leaders promote reforms while preserving continuity with the efforts of their predecessors? ADB has played an important role in the transformation of Asia and the Pacific the past 50 years. As ADB continues to evolve and adapt to the region’s changing development landscape, the experiences highlighted in this book can provide valuable insight on how best to serve Asia and the Pacific in the future.
After a disappointing 2019, growth prospects in developing Asia have worsened under the impact of the current health crisis. Signs of incipient recovery near the turn of this year were quickly overthrown as COVID-19 broke out in January 2020 in the region’s largest economy and subsequently expanded into a global pandemic. Disruption to regional and global supply chains, trade, and tourism, and the continued spread of the outbreak, leave the region reeling under massive economic shocks and financial turmoil. Across Asia, the authorities are responding with policies to contain the outbreak, facilitate medical interventions, and support vulnerable businesses and households. Assuming that the outbreak is contained this year, growth is expected to recover in 2021. Especially to face down fundamental threats such as the current medical emergency, innovation is critical to growth and development. As some economies in developing Asia challenge the innovation frontier, many others lag. More and better innovation is needed in the region to sustain growth that is more inclusive and environmentally sustainable. Five key drivers of innovation are sound education, productive entrepreneurship, high-quality institutions, efficient financial systems, and dynamic cities that excite knowledge exchange. The journey to creating an innovative society takes long-term commitment and hard work.
This collection of papers challenges the conventional view of East Asian development driven by open and efficient markets and suggests that considerable diversity both at the institutional level and in policy approaches lies behind the region's rapid economic growth.
This book is open access under a CC BY 4.0 license. This book delves into the widely held belief that the 21st century will be the "Asian Century" by examining the Asia's rapid economic development in the post-war era and the challenges it faces in forging ahead of world leaders in the West. The impact of the current turbulent global political climate on Asia is critically analyzed, employing a holistic and multidisciplinary approach, combining economic, social, political and geopolitical perspectives. Written in an accessible style, the book offers students, business, government, and civil society players powerful insights on Asia.
In the early 1960s, fewer than five percent of Japanese owned automobiles, China's per capita income was among the lowest in Asia, and living standards in South Korea's rural areas were on par with some of the world's poorest countries. Today, these are three of the most powerful economies on earth. Dwight Perkins grapples with both the contemporary and historical causes and consequences of the turnaround, drawing on firsthand experience in the region to explain how Asian countries sustained such rapid economic growth in the second half of the twentieth century. East Asian Development offers a comprehensive view of the region, from Japan and the "Asian Tigers" (Hong Kong, Singapore, Taiwan, South Korea) to Indonesia, Vietnam, Thailand, Malaysia, and China--a behemoth larger than all the other economies combined. While the overall picture of Asian growth is positive, no single economic policy has been effective regionwide. Interventionist policies that worked well in some countries failed elsewhere. Perkins analyzes income distribution, to uncover why initially egalitarian societies have ended up in very different places, with Japan, for example, maintaining a modest gap between rich and poor while China has become one of Asia's most unequal economies. Today, the once-dynamic Japanese and Korean economies are sluggish, and even China shows signs of losing steam. Perkins investigates whether this is a regional phenomenon or typical of all economies at this stage of development. His inquiry reminds us that the uncharted waters of China's vast economy make predictions of its future performance speculative at best.
Infrastructure is essential for development. This report presents a snapshot of the current condition of developing Asia's infrastructure---defined here as transport, power, telecommunications, and water supply and sanitation. It examines how much the region has been investing in infrastructure and what will likely be needed through 2030. Finally, it analyzes the financial and institutional challenges that will shape future infrastructure investment and development.
Futures thinking and foresight is a powerful planning approach that can help Asia and the Pacific countries meet economic, political, social, and environmental and climate change challenges. This publication shows how the Asian Development Bank (ADB) piloted this approach to understand entry points to support transformational change in the region. It compiles lessons from an ADB initiative to apply futures and foresight tools in Armenia, Cambodia, Kazakhstan, Mongolia, the People's Republic of China, the Philippines, and Timor-Leste. Futures terminology is introduced as are specific tools such as emerging issues analysis, scenario planning, and backcasting. It also describes how futures and foresight tools were applied in the countries.
While probing into the economics of development and planning and evolving the strategy for social transformation, professional economists often lose sight of the ultimate goalman. The firsthand knowledge and experience of the human situation are tabulated and computerised, and then they reappear as abstract ‘models’ and formal ‘indicators’. In his Social Development and Planning in Asia Dr. Ralph Pieris salvages this human factor that often tends to disappear behind ‘significant statistics’. Unlike the alienated technocrats, whose profession is to devise strategies for economic development, Dr. Pieris stresses the human dimension of all socio-economic planning. The papers included in this volume were prepared during 1951-75; they trace not only the history of the socio-economic development in the underdeveloped Asian countries, but also delineate the dialectical relationship between the philosophy of development and the ‘social-man’. This vein of concern for the human situation, though running through all his writings, is methodically formulated in Part IV of the book — “The Problem of Human Relationships: A Grammer of Sociology”. In whatever he has written during the past quarter century, Dr. Ralph Pieris is rightfully confident that he has pre-empted Gunnar Mydal’s Prognosis (1970).