Abstract: If we were to look at all the actors on the Asian financial crisis drama, we cannot ignore the role of Japan. But on a global scale, the real superpower is undisputedly the United States. In 1996 the U.S. GDP was US$7.8 trillion, nearly 60 percent larger than Japan's and nine times larger than China. Asia's rise and fall had a lot to do with the United States, as the single largest Asian trading partner. Asia relied so much on the U.S. economy that it used to be said that if the United States were to sneeze, Japan would catch a cold and the rest of Asia would catch pneumonia.
Publication Year: 2009
Publication Date: 2009-05-16
Language: en
Type: book-chapter
Indexed In: ['crossref']
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