The book examines the critical juncture facing Asia-Pacific economic development and the implications of a shifting global trade landscape. Ross Garnaut, a distinguished economist, analyzes the breakdown of the established open trading system and the diminished support from the United States. While East Asian economies can generate significant growth through their own export expansion, they cannot sustain the entire global demand alone. The book posits that APEC (Asia-Pacific Economic Cooperation) is the essential forum for preserving the international framework required to maintain East Asian economic dynamism.

This book addresses the significant challenges and opportunities presented by the evolving global economic order for the dynamic economies of the Asia-Pacific region. It highlights the interdependence of national economies and the crucial role of international cooperation, particularly through forums like APEC, in fostering continued growth. The analysis focuses on the structural shifts in international trade and their impact on regional economic strategies. The work is positioned as a key text for understanding the economic trajectory of East Asia in the mid-1990s.