Reference no: EM131061816

One could argue that the only constant in Asia is change. By some accounts, Asia continues to dominate world growth and accounts for up to 60% of the economic growth in the world. Leading the world in economic growth is not new to Asia, but at the same time, the nature of the growth seems to always change. For years, Japan was the regional leader both in terms of size and electronics innovation. Now China seems to be the size leader and perhaps Korea is the leader in technological innovation. Yet even as these countries have moved to the forefront, there a resigns of new changes. China's growth has begun to slow with significant ramifications for its trading partners: some will win and others will not. Similarly, Korea's ruling party fared poorly in a recent election because of economic issues. A number of countries have had relatively recent changes in government which also have economic ramifications.

Questions: How would you describe East Asia's economic circumstances? Is growth a constant or is the region undergoing change? Which and explain why you say so? What are the implications of this consistency or change? EXPLAIN.Where is the change happening or where are things constant?