The North Pacific triangle: Sources of economic and political transforation

This article explores the changing economic and security relationships among the United States, Japan, and South Korea, with particular attention to the implications of post-1985 exchange-rate shifts for political and economic stability in these three nations. The author argues that the stability and cohesion of this strategically important North Pacific triangle, the only point outside Europe where the economic and military superpowers all adjoin one American to the Japanese market as the locus of regional growth, due to disproportionate and destabilizing adjustment costs being imposed on South Korea. Expanded American, and especially Japanese support initiatives are the principal alternatives to intensified Korean reliance on continental Asia, the article maintains.