Our studies of economic development in our series at Paul Kim’s Asian Study Center at JCCC focus on having practical application or to be useful to our life not intending to build scientific or mathematical theories, which are often far detached from real life. This means that our studies seek for an inspiration or a new insight and target our thought to capture the right things to do at a right moment in history, not just theoretical or mathematical work. We predict the future of economic growth and show the crucial elements of economic growth at a particular moment in history.
In this paper (series #3), we will discuss how an Asian nation particularly China, a rapidly developing nation, responded to our publication or how our prediction was accurate about their course or path of economic growth.
Then in the other series (#2), we also begin to explore what must be done in near future as some of the Asian nations approach to the advanced stage of economic development in order for them to sustain their economic growth. We will do these by reviewing and learning what went wrong in Japan’s economic growth as well as issues that hindered economic growth in the U.S., which would be useful to newly arrived advanced nations in Asia.
Kim, Paul, "An Economic Theory in Action in Asia" (2014). Economics Papers and Presentations. 5.