Overall Conclusion of the Book

In many Asian countries, the questions of limits to growth and the challenges of overcoming such limits are clearly at work today. Japan is facing quickly an ageing and shrinking population, a situation that South Korea is bound to face in the near future too. China is facing the problem of the exhaustion of its export-led growth model based on low factor prices, as well as the unprecedented problem of environmental degradation. Food supply is still of concern in most Asian countries and, over the long run, climate change is projected to diminish the agricultural productivity growth potential. A paramount issue is thus the environmental constraint and the transition of these countries to energy-saving methods of production. China is shifting quickly to the use of electric cars whereas Japan still faces uncertainty in terms of its nuclear energy programme. Some of these challenges can be analysed and tackled at the micro-economic level,—the level of the firm—, whereas other challenges are better apprehended at the nation specific level, while many other still are to be tackled at the international level, particularly as far as international relationships are concerned.