FOREWORD -- CONTENTS -- FIGURES -- TABLES -- Part I The Global Economy -- Chapter 1 GLOBALIZATION: MEANING AND MEASUREMENT -- 1. Rhetoric and Spin -- 2. What Does It Mean? -- 3. Measurement Issues and Applications -- 4. Concluding Observations: How Much Globalization Is There, and How Much of It Is New? -- Chapter 2 GLOBALIZATION: LESS THAN MEETS THE EYE -- Chapter 3 FINANCIAL CRISES AND THE CHALLENGE OF "MORAL HAZARD" -- Chapter 4 THE MORNING AFTER -- Chapter 5 FINANCIAL FLU ISN'T CONTAGIOUS -- Chapter 6 HISTORY HASN'T ENDED: THE STRUGGLE BETWEEN MARKETS AND GOVERNMENTS RESUMES -- Chapter 7 THE WTO CONTROVERSY: EXAGGERATED FEARS AND UNREALISTIC HOPES -- Chapter 8 ECONOMIC FACTS POINT TO A WEAK EURO -- Chapter 9 E PLURIBUS INCERTUM UNUM (FROM MANY AN UNCERTAIN UNION) -- Chapter 10 THE CRISIS OF GEORGE SOROS -- Part II The U.S. Economy and Foreign Policy -- Chapter 11 WHETHER AND WHEN TO INTERVENE -- Chapter 12 TAX CUTS, DEBT REDUCTION, AND "FAIRNESS": WHY TAX REDUCTION IS NO MORE "UNFAIR" THAN DEBT REDUCTION -- Chapter 13 FALSE ALARMS ABOUT THE U.S. TRADE DEFICIT -- Chapter 14 TWO DEFICITS THAT JUST DON'T MATTER -- Chapter 15 TAXES, TRADE, AND GROWTH -- Part III Asian Economics and Politics -- Chapter 16 ARE "ASIAN VALUES" REALLY THAT UNIQUE? -- Chapter 17 THROUGH A HAZY CRYSTAL BALL: ASIA'S ECONOMIC OUTLOOK, 1997-2020 -- 1. The Hazards of Forecasting -- 2. A Base-Line Forecast -- 3. Alternative Views of the Asian Economic Outlook -- 4. Consequences and Implications of Asia's 1997 Financial Turmoil -- Chapter 18 ASIA IN 2015 -- Chapter 19 THE ACCUMULATION OF MILITARY CAPITAL IN ASIA AND THE UNITED STATES, 1997-2015 -- Chapter 20 TOO MUCH GOVERNMENT CONTROL -- Chapter 21 THE END OF ASIA'S ECONOMIC CRISIS -- Chapter 22 WHEN GOOD NEWS ISN'T NEWSWORTHY -- Chapter 23 ASIA'S DRAMATIC RECOVERY -- Chapter 24 CHINA AFTER DENG.

Chapter 25 WHY CHINA'S 8 PERCENT GROWTH TARGET IS NOT GOOD NEWS -- Chapter 26 CHINA'S DEVALUATION: WHETHER, WHEN, HOW MUCH? -- Chapter 27 CHINA'S HIERARCHS FACE A CRITICAL DILEMMA -- Chapter 28 COMMUNISTS AND CAPITALISTS IN CHINA: WHO WILL CO-OPT WHOM? -- Chapter 29 CHINA CONTINUES ITS FITFUL MARCH TOWARD CAPITALISM -- Chapter 30 ONE CHINA, THREE SYSTEMS? -- Chapter 31 RESTARTING CROSS-STRAIT RELATIONS: BEYOND THE DIALOGUE OF THE DEAF -- Chapter 32 CURING JAPAN'S ECONOMIC MALAISE -- Chapter 33 LONG-TERM PROSPECTS FOR JAPAN -- Chapter 34 NEW THERAPIES FOR JAPAN'S ECONOMIC SCLEROSIS -- Chapter 35 JAPAN'S COMFORTABLE STAGNATION -- Chapter 36 HOW TO DEFEND JAPAN WHILE "ENGAGING" CHINA -- Chapter 37 WHEN A BALANCE OF POWER CAN BE DESTABILIZING -- Chapter 38 MANAGING THE COSTS OF KOREAN REUNIFICATION-IF IT OCCURS -- INDEX.