The Economic and Strategic Rise of China and India: Asian Realignments after the 1997 Financial Crisis

By David B. H. Denoon

While academics and the press have given significant attention to the 1997 Asian financial crisis and Japan’s stagnation in the 1990s, less focus has been placed on the strategic implications of economic restructuring and slowing of growth rates in the other Pacific Rim economies, notably Taiwan, Hong Kong, Malaysia, and Indonesia.

In The Economic and Strategic Rise of China and India, David Denoon, a professor of politics and economics at NYU, seeks to explain why the 1997 financial crisis was such a critical turning point and, unexpectedly, ended up stimulating trade and investment within Asia. He pays particular attention to the relative decline of the Pacific Rim states and the rapid rise of India’s economic and strategic position.

Earlier this year, NYU Press published Denoon’s edited volume, China: Contemporary Political, Economic, and International Affairs, which includes a series of essays analyzing China’s recent transformation by focusing on three primary areas: foreign policy and national security; economic policy and social issues; and domestic politics and governance.

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