March 26, 2012
Can Asian-Style Capitalism Save the West?
Michael Schuman, Time
As you can imagine, the people out here in Asia are feeling pretty good about themselves these days. And why shouldn't they? While the U.S. and Europe struggle with debt, unemployment and sagging competitiveness, most of Asia seems to jump from strength to strength, its economies powering through the downturn with apparent ease, its companies becoming more and more prominent on the world stage. So it's no wonder that many Asians have come to believe that their economic systems are superior to those of the U.S. and Europe - and that policymakers in Washington, London and Berlin should finally sit up and pay attention. For decades, Asia had been schooled in the wonders of free capitalism by the West, and benefited tremendously. Now, many out here believe, the time has come for...
TAGGED: United States, Asia, China, Singapore, Eurozone