Looking at the Sun: The Rise of the New East Asian Economic and Political System

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The Western world believes that capitalism has won, that our model of individual enterprise and rights has triumphed. But in East Asia a new system has emerged that challenges the economic principles the West extols. In fact, as James Fallows vividly demonstrates, the theories we embrace to explain how nations rise and fall have prevented us from seeing the true nature of this new system and its enormous impact on us. Skillfully blending history with on-the-ground reportage and astute analysis, Fallows reveals ...
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More About This Book

Overview

The Western world believes that capitalism has won, that our model of individual enterprise and rights has triumphed. But in East Asia a new system has emerged that challenges the economic principles the West extols. In fact, as James Fallows vividly demonstrates, the theories we embrace to explain how nations rise and fall have prevented us from seeing the true nature of this new system and its enormous impact on us. Skillfully blending history with on-the-ground reportage and astute analysis, Fallows reveals how political goals and historical experience have shaped Japan's economic rise and placed it at the heart of the Asian system. He shows how the explosive growth of Thailand, Malaysia, and Singapore has been fueled by Japanese investment; why Burma, the Philippines, and Vietnam have been largely isolated from the region's progress; and why Korea, Taiwan, and "Greater China" are the strongest contenders for future economic dominance. Extraordinary in depth and scope, Looking At the Sun provides the first clear picture of the Asian rise and the magnitude of its challenge to the Western world.

In a timely, even prophetic, portrait of Asia's rise and the magnitude of its challenge to the West, Fallows demolishes the myth that Japan is a capitalist country built on the Western model. He demonstrates instead how Japan's economic system treats business as an instrument of national interest while casting aside the traditional Western values of individual enterprise and human rights.

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Editorial Reviews

Publishers Weekly - Publisher's Weekly
Suggesting that the U.S. does not yet comprehend the ramifications of the new form of capitalism developed in Japan, Fallows, a reporter on Asia for the Atlantic Monthly and other periodicals and author of the American Book Award-winning National Defense , details them. It is this style of capitalism, rather than communism or fascism, that challenges us now, he shows. Much of Fallows's review of Japanese history and development is familiar, but his insights and scope are fresh and commanding. The purpose of economic policy in the U.S., he maintains, is to stimulate individual spending; in Japan, economic policy rewards the producers rather than the consumers and is intended to make the nation strong and invulnerable. Fallows argues that not every nation's economic policy will or can follow the American model; Japan has introduced a different and successful model and we should learn from it. (Apr.)
Library Journal
In the past decade hundreds of books have been published about Japan, ranging from the idolatrous-sounding Japan from Shogun to Superstate (St. Martin's, 1988) to the frankly negative theme of Michael Crichton's Rising Sun (Knopf, 1992). In contrast, Fallows ( National Defense , LJ 6/1/81) demonstrates how the Japanese economic system differs from the West's and explores some of the historical reasons for these disparities. Fallows takes Americans to task for assuming that all people and cultures are essentially the same. Westerners, he asserts, use ``the wrong mental tools to classify, shape, and understand the information they receive about Asia.'' For example, we ``know'' that government intervention interferes with business efficiency, but Tokyo intercedes actively in the Japanese economy. Fallows posits the thesis that the postwar American occupation influenced Japan in ways the United States is only beginning to analyze. Succinctly, the United States did the fighting and made the big decisions; Japan concentrated on economic growth. This worked well until the Cold War ended and Japan's economic might began to outstrip the West's. The author concludes by saying that economic competition is not a matter of right or wrong, but it favors those who make their own luck. Fallows has written a lively and well-researched book. Recommended for any library whose patrons are interested in contemporary Asia.-- Mary Chatfield, Angelo State Univ. Lib., San Angelo, Tex.
Mary Frances Wilkens
Fallows challenges the Western world's notion that its capitalist system is the only way to go, in a well-researched, thorough, and analytic study of international business. Of particular relevance to Fallows, who reported from Asia for five years for "Atlantic" (in which the text of this book first appeared, in three parts), is how eastern Asian countries, not just Japan, are emerging as the new world leaders in business and technology. In fact, Fallows theorizes that the U.S.' reliance on its old regime of individual enterprise and rights is the very notion that will inevitably be our demise. Asia's economic models are strong because governments there are so strong and powerful, and the author sees even area dictatorships as having the upper hand in business; after all, there is someone at the helm to control the market. Fallows elaborates on how various countries have succeeded in vying for a competitive share of the world market, some with funding from Japan and some not. A fascinating, fresh, and potentially controversial contemplation of the global market.
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Product Details

  • ISBN-13: 9780679422518
  • Publisher: Knopf Publishing Group
  • Publication date: 4/5/1994
  • Edition description: 1st ed
  • Edition number: 1
  • Pages: 517

Table of Contents

Introduction 3
1 The Mystery of the Chips 21
2 The Drive to Catch Up 72
3 The American Years 117
4 The Idea of Economic Success 177
5 The Pan-Asian Age 241
6 Growth Without Development 278
7 On the Sidelines 325
8 Contenders 375
9 The Impact of the Asian System 407
10 Looking At the Sun 437
Acknowledgments 454
Notes 457
Index 499
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  • Anonymous

    Posted May 29, 2001

    Mandatory reading for our age

    This is a stunning book, well-written and clearly argued and presented, that is essential reading for understanding the Japanese and their unique economic and political system. This is also a sobering book, for all nations, but probably and sadly mostly for Americans. I cannot believe that anyone who gives serious consideration to this book followed by thoughtful and ongoing observation will be left unchanged by it.

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