DR wrote:
It did more than just open a breach. US-style neoliberalism and the Washington Consensus was smashed to pieces in East Asia, and never recovered. The battle right now is between powerhouse developmental states and varieties of keiretsu capitalism. Kind of like the real life version of "Godzilla: Final Wars". As for who's winning -- let's just say the Big Lizard just won't quit.
JG responds:
Dennis, bro, I hate to say it (wait a second... no I don't!!!), but you've been playing the same tune on LBO-list and elsewhere for 15 years and running. Does not the analysis shift in the wake of new realities? I'm talking about _transcending_ developmental statism and keiretsu capitalism. Have you not grokked Gavan MacCormack's wonderful _The Emptiness of Japanese Affluence_?
PS And empirically speaking, WashCon did not win the war in post 97-98 Japan and S Korea, but it has won some battles. I'm not nearly up to speed on this as I could be (comparative p.e. is much less my bailiwick than before, it is just too deadly dull and politically pointless), but I'm quite sure that there has been some (if not a lot) financial market deregulation and liberalization in both Japan and S Korea these last 10 years. _________________________________________________________________ Need to know the score, the latest news, or you need your Hotmail®-get your "fix". http://www.msnmobilefix.com/Default.aspx