The sense in business circles, that demand is weak and growth is slowing down, was…
Nationalism and Southeast Asia’s Ersatz Miracle Jomo K. S.
Nationalism in Southeast Asia has been used to refer to a variety of phenomena ranging from anti-colonialism to ethno-populism and beyond. This article critically examines claims that rapid economic growth in the second-tier Southeast Asian newly industrializing countries can be attributed to economic liberalization and that the vestiges of nationalist Japanese-style financial systems can be held responsible for the currency and financial meltdowns since mid-1997. It suggests that economic nationalism has been crucial to late industrialization in East Asia while acknowledging the problematic weaknesses of state intervention in Southeast Asia.
ersatz_miracle (Download the full text in PDF format)