Asian Values in Capitalist Development Revisited

The concept “Asian values” has been used in three different ways: as an ideological disguise of authoritarian regimes; as a manifestation of “Orientalism”; and as a major factor for East Asian development. In its last use, the term usually denotes the Confucian value system that has supposedly contributed to the state-led, export-oriented economic growth in East Asia. However, this explanation has several drawbacks. First, East Asian development is not a uniform process, but is comprised of diverse patterns. Second, the once-successful developmental state model no longer seems to be effective in the new global economy. Third, Confucian values cannot be regarded as a major factor for initiating capitalist development in this region. Fourth, some elements of Confucianism can be regarded as both a contributing and a detrimental factor for economic development in East Asia. Fifth, a cultural approach to economic development usually involves a danger of reducing everything to cultural elements. Thus, as an alternative to this approach, a multi-factor historical model is suggested.