Current Challenges

Linda Glawe and Helmut Wagner ()
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Helmut Wagner: University of Hagen

Chapter Chapter 6 in The Economic Rise of East Asia, 2021, pp 289-341 from Springer

Abstract: Abstract This chapter focuses on the challenges that Japan, South Korea and China are currently facing and will face in the following decades. After a brief look at where East Asia stands today and the recent policy course, this Chapter first addresses the general challenges that affect all countries globally (demographic, climate, digital, structural, and cultural change as well as international integration). It then looks at key challenges facing specifically the East Asian countries including the risk of financial crises, the “system competition” between China and the US, the danger of a middle-/high-income trap, and challenges related to productivity/human capital weaknesses and resource scarcities. The Chapter also address the question of which country in Asia could become the next China or model of success, taking a closer look at India and Vietnam.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:conchp:978-3-030-87128-4_6

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DOI: 10.1007/978-3-030-87128-4_6

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