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date: 13 June 2021

Abstract and Keywords

What came to be known as the Asian miracle took place in a number of quite varied contexts in countries outside the major states Japan and China, and the way in which these smaller economies have built their development trajectories in the years after 1960 has been a matter of serious attention among policymakers worldwide. Japan and China are given specific attention elsewhere in this volume and so this article considers the rest of Pacific Asia. It aims to outline the systems of business which have come to characterize the following clusters of countries: first, South Korea which stands on its own as a distinct case; second, Hong Kong, Taiwan, and Singapore which are essentially Chinese in their ethnic make-up, their current political structures, and their business behaviour, but which nevertheless display great differences among themselves; third, the ASEAN group outside Singapore, again containing variety but with certain key common denominators.

Keywords: smaller economies, Pacific Asia, business systems, Japan, political structures, business behaviour, ASEAN group

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