The island's rapid industrialisation over the past decade and its development as the main trade and financial centre of South-East Asia, supported by a phenomenal growth in tourism, constitute yet another Asian economic miracle.

There has been much discussion of the Newly Industrializing Countries (NICs) in recent years and various studies of their impact have been made. Much of the concern about NICs in the industrialized countries is however based on what they portend for the future rather than their present impact....

Japan's direct investments have become an important factor in the economic reality of South East Asia. The following article gives a structural description of the present state of Japanese direct investment in this region.

The developing countries are caught in the cleft stick of assertion of national interests and independence, on one side, and need for an improved investment climate to attract foreign direct investment, on the other. The question facing the foreign firms is how they can safeguard their capital...