Will Re-armament Wreck the 'Asian Miracle'?

Will Re-armament Wreck the 'Asian Miracle'?
Nitzan, Jonathan. (1997). Emerging Markets Analyst. Vol. 5. No. 11. March. pp. 15-24. (Article - Magazine; English).

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Abstract or Brief Description

The Asian miracle faces two external threats, both related to re-armament. One is that the regional arms race will trigger open hostilities. The other is that renewed conflict in the Persian Gulf will trigger an oil crisis, choking Asia’s energy-hungry economies. The immediate danger on both fronts is limited. In the Asia, tangible ‘peace dividends’ from growth still far outweigh potential ‘redistributional gains’ from war, whereas in the Middle East the Arab-Israeli peace process remains on course. The long-run risks, however, are significantly greater. Asian growth will eventually decelerate, which implies a far thinner cushion to soften political disputes.



Publication Type

Article - Magazine


arms race Asia capital flow emerging markets energy conflict FDI geopolitics growth industrialized countries Middle East military spending oil crisis stagflation United States


BN Business Enterprise
BN Capital & Accumulation
BN International & Global
BN State & Government
BN Comparative
BN Conflict & Violence
BN Money & Finance
BN Value & Price
BN Crisis
BN War & Peace
BN Power
BN Distribution
BN Region - Asia
BN Growth
BN Region - Europe
BN Region - North America
BN Region - Middle East

Depositing User

Jonathan Nitzan

Date Deposited

18 Jan 2005

Last Modified

04 Jan 2019 22:53



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