過去美國自由資本主義與東亞中央集權經濟體制一直存在著特殊的互利共生關係，直到1997年亞洲金融風暴為冷戰時代的區域性經濟劃下句點，隨著冷戰的結束，也開啟了在華盛頓條約下的全球化之門，外國資金大量湧入投資環太平洋地區亞洲國家，形成表面上的亞洲經濟奇蹟，然而只有少數人注意到這股熱潮後面所隱含的債務危機，當1997爆發泡沫化經濟使得大量的投資與資金撤出，造成亞洲經濟體系劇烈影響，此時IMF趁機藉由亞洲金融風暴以紓困方式介入，雖然表面上舒緩了亞洲金融風暴，其實卻是為未來埋下更長的危機。
本論文將以諾貝爾獎得主阿瑪森(Amartya Sen) 之經濟發展與自由(Development as Freedom)理論-主張經濟與政治取得平衡永續發展， 同步政經發展經濟發展理論為基礎，以亞洲金融風爆危機為背景來探討全球化政治。由以上論點，後亞洲金融風暴危機並未會比金融風暴危機前的政治發展情況來的有益，全球化主義所造成的阻礙對貧窮國家而言甚至等同於獨裁主義，新自由全球化主義已無法躲在“第三波”或“歷史的終結”這類的自由民主主義決定論後。90年代中期前，第三世界開發中國家已存在著許多文化亂象與困境，而隨著亞洲金融風爆的發生，使得此種困境威脅著亞洲，也考驗著整個資本主義之社會經濟效用。
有些人認為亞洲情況有別於其它地區，堅持西方的民主自由主義是亞洲高度經濟發展的絆腳石。然而，阿瑪森認為亞洲金融危機突顯了亞洲非民主體制國家的問題，他主張自由民主發展不僅只是在西方世界，也深根的影響亞洲人價值觀，故對亞洲經濟發展提出“東方策略”之見解，相信某種程度的政治介入國家經濟發展，如公共教育與土地重劃等措施，對亞洲經濟奇蹟及其他發展有顯著貢獻。
目前阿瑪森模式的經濟理論已較過往打著“第三方式”標籤的經濟主義受人們所注目。故本論文將探討當亞洲金融風爆衝擊後，各國在新自由全球化主義下，自主權受到外國資金與政策的限制與侵蝕，所造成發展的倒退效應，且以菲律賓、印尼與南韓各國應變歷程為例，探討其中正反論點。
但可惜地，阿瑪森對主導全球經濟的跨國企業著眼的程度相對於不平等全球化資本主義要來的少，他似乎傾向於忽略重要的後物質主義，如文化與環境永續議題。此外其資訊化策略理論方法的提出避免了社會災難，但他卻未能適切的對全球化主義在政治、文化與環境上的入侵提出抗議，所以本論文另一方面也將嘗試由阿瑪森本身內部釋放阿瑪森模式，幫助阿瑪森解開本身在政治立場的矛盾，以解釋其他經濟現象。

The Asian Crash of 1997 gave final closure to the era of Cold War geoeconomics. For decades American liberal capitalism had maintained an oddly symbiotic relationship with East Asia’s far more centrist economies. The end of the Cold War, however, opened the door for full-thrust globalization on Washington’s terms. At first, foreign investment and money market speculation stoked what looked like a new super-miracle on the Pacific Rim. Few took serious notice of how the lending binge of the mid-1990s recklessly expanded foreign debt relative to reserves. When the bubble broke in 1997, massive capital exodus sent the region into a ruinous plunge. The IMF took its time in responding, and finally applied a dubious rescue formula that helped to turn the Crash into a protracted Crisis.
Taking the Crisis as a window on the politics of globalization, this study builds on the development theory of Amartya Sen. It follows from Sen’s axiom of “development as freedom” that just and sustainable development is best achieved where economic and political priorities are balanced in what I term the “concurrence” approach to development. From this vantage the post-Crisis condition of the Rim was hardly more conducive to political development than was the pre-Crisis situation, for poverty can be as much a developmental roadblock as authoritarianism is. Neoliberal globalism could no longer hide behind the democratic veneer of “third wave” or “end of history” determinism. By the mid-1990s the specter of cultural anarchy already haunted much of the developing world outside the Rim, and the Crash threatened to expunge that crucial exception. Nor was this just a Third World dilemma. The socioeconomic efficacy of the whole capitalist system was on trial.
In Sen’s view, the Asian Crisis spotlighted the high cost of undemocratic governance. Asian exceptionalists held that Western liberal democracy was not needed in this high-growth sphere, and indeed would be a hindrance. Sen argues, however, that the cultivation of freedom, as both an end and means, is not just a Western imperative. Indeed, his expansive view of social well-being is rooted in Asian values. In lieu of the statist economism that was falsely identified as Asian values during the “miracle” years, Sen proposes an “Eastern strategy” that draws on the more humane dimensions of Asian development. He credits state interventions such as public education and land reform as major contributions not only to the “Asian miracle” but to all sustainable development.
Much more is involved in the Senian model than the slightly modified economism that has appropriated the “Third Way” label. This study draws positive and negative cases in point from the development records of the Philippines, Indonesia and South Korea. While all three countries were hard hit by the Crash and the subsequent Crisis, each reacted in its own way. What they had in common, however, was the undertow effect of neoliberal globalization, whereby foreign capital and policy constraints eroded their effective autonomy.
Unfortunately, Sen’s attention to the glaring inequalities of global capitalism is not matched by much attention to the transnational corporations (TNCs) that dominate the global economy. Likewise he has tended to neglect crucial postmaterial issues such as cultural and environmental sustainability. Useful as his informational strategies are for averting social catastrophies such as famine, he fails to adequately contest the political, cultural, and environmental inroads of globalization. For that it is necessary to move beyond the pallid globalism of Sen’s own politics. The paradoxical task of this study, therefore, is to free the Senian model from Sen himself.

Introduction A New Asian Developmentalism 1
1.1 The Clash of Rival Capitalisms 1
1.2 Sen and the Crash 8
1.3 Kerala and Sweden as Senian Test Cases 16
1.4 The Expanded Paradigm 20
1.5 Three Case Studies of Developmental Concurrence 23
1.6 Conclusion 34
Chapter I Postmaterial Development: The Search for a New Asian Model 38
1.1 The Crash as Question Mark 38
1.2 Toward an Asian Postmaterialism 41
1.3 Crisis of Sustainability 46
1.4 The Asian Appropriation of Western Technologism 49
1.5 Grassroots Alternatives and NGO Translocalism 51
1.6 A New Asian Model 57
Chapter II Cold War Asianism: Politics of the “Asian Miracle” 61
1.1 The Making of Third Worldism 61
1.2 Rise and Fall of Non-Alignment 64
1.3 Globalization and the Making of the “South” 70
1.4 From Miracle to Mirage 80
Chapter III Inertia as Usual: Politics of the Perpetual Philippine Crisis 90
1.1 The Crossroads of People Power 90
1.2 The Globalist Turn 97
1.3 Politics of the Crash 104
1.4 Conclusion 113
Chapter IV Techno-Politics of the Indonesian Crisis: An Opportunity Lost 116
1.1 Fragile Miracle 116
1.2 Rise and Fall of the Technocrats 121
1.3 The Suharto Mire 127
1.4 The Post-Suharto Malaise 135
1.5 Megawati’s Full Retreat 141
Chapter V Politics of the Korean Crisis: Globalization and the Democratic Question 148
1.1 The “Miracle” Revisited 148
1.2 Enter the Technocrats 156
1.3 Political Undevelopment 163
1.4 “Sunshine” Tactics 172
1.5 Rise and Fall of the Civic Dynamic 176
Chapter VI Globalization on Trial 183
1.1 “Altering” Globalization 183
1.2 A New Southern Strategy 187
1.3 Rise and Fall of the American Model 195
1.4 Armed Globalization 203
1.5 Fire Sale 208
1.6 Conclusion 217
Conclusion 220
1.1 The Globalist Moment 220
1.2 The Short Life of People Power II 223
1.3 The Restructuration of Korea 228
1.4 Globalization versus Democratization 232
Bibliography 238

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