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by Steve Chan (Author)
A country's culture influences its economic growth, which in turn influences its international position. Confucian heritage appears to be the common factor explaining the rapid economic growth of East Asian countries, including China's meteoric rise in recent years. Ironically, Confucianism has been criticized not too long ago for hindering progress in these countries. At the same time, Protestant countries, once the vanguards of economic development, have seen weak growth., These developed economies are undergoing a cultural transformation from an emphasis on materialist concerns to postmaterialist ones. What do these trends augur for their economic growth and international competitiveness, particularly in the context of ongoing power shifts between China and the United States?
