Understanding East Asian Trade Imbalance History: A Comprehensive Analysis
East Asian Trade Imbalance: A Historical Perspective The economic history of East Asia is characterized by remarkable growth alongside persistent trade imbalances. Following World War II, many nations adopted an "export-led growth" strategy, focusing on manufacturing goods for export. This proved incredibly successful, transforming countries like Japan, South Korea, Taiwan, Hong Kong, and Singapore ("Asian Tigers") into manufacturing powerhouses. Their success, however, resulted in significant trade surpluses – exporting far more than they imported....