Asia’s financial futures

Abstract

In spite of strong economic recovery since 2000, the worst of the financial crisis in Asia may not be over. This article uses a predictive‐cultural‐critical framework to consider possible futures for economic development in the region. In the predictive dimension, the economic outlook for Asia looks pessimistic. In the cultural dimension, we give a negative expression to Asian appreciation and tolerance. In the critical dimension, we indicate an inconsistency between belief and action in Asia. However, a brighter future for Asia can be created if economic integration leads to political disintegration associated with market mechanisms and if the economic integration separates itself from Asian values.