In his article intends to comment on the recent Southeast Asia financial crisis, the author tries to reveal the fundamental deficiency of the well -known economic growth mode in east Asia, which he regards as the essential cause of this money crisis. Here recurred the prophecy of Prof. Paul Crugman, a famous economist in Massachudetts Inst of Technology. For pointing out the intrinsic defect of themode his foreboding was once seen as a slander,but the author by analysis comesto conclude that it’s fulfied now. The analysis is around 3 levels: essential condition, interior growth mechanism and international political economic enviroment. At last he retrospected the east Asia mode on the following aspects: industrial structure, foreign capital, economic integration, etc.
This is an article something different from above. The author analyzes that in essnce the Flying - Geese Mode was out of the strategic need of America after World War II. Under such modes, the United States fosteres many Asia countries, mainestly Japan, and transplanted a great deal of it’s domestie matured industries into them, while keeping their makets a relative open status in a long period. It made these countries absorb plenty of exports from export-oriented. However, as usually considered, this mode had following detects: single structure of export and a over-high dependant degree to the foreign trade. With the end of cold war, or with the change of world political and economic situation, this mode had been facing the ptoblem of a limited oversea market volume. The East Asia’s crisis may be seen as a result of this problem. So the author firmly believe that the Flying-Geese Mode has been to the end of it’s road and it should be given up without hesitation.
