Review Chinese and Japanese economic history in this week's assigned readings. Identify and analyze the differences between the macroeconomic schools of thought that have guided economic development in the two countries during the past 50 years and explain how each has helped and/or hindered the respective economies. What variables could help explain how each of these countries has exemplified catch-up theory over the past 50 years?

Your paper should be three to four pages in length and cite at least two credible sources other than (or in addition to) assigned readings from the course.