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The rise of ersatz capitalism in South-East Asia
This stimulating book calls attention to the growth of an inefficient superlayer in the economies of South-East Asia and invites the reader to think about the problems this poses to economic development in the future. The author argues that technological backwardness, the low quality of government intervention, and discrimination against those pf Chinese descent have prevented capitalism from spearheading development, and what has emerged is a brand of ersatz capitalism which is very different from the capitalism in Japan ot the West. In his conclusion, he offers recommendations for creating a dynamic capitalism while acknowledging the fact that obstacles to their implementation exist because of the present social and political conditions of South-East Asia.
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