Korea now stands at an important crossroads for national development and prosperity in the era of globalisation. It is quite natural to raise the following questions: What trends will be evident in the global economic order of the 21st century? Will the US be able to maintain its economic dominance of the global economy? What will be the future choice of Japan in the on-going trends? Will the main international political and economic partner of Japan be the US or will it be China? Or will Japan opt for a more independent path? What will be the role of Japan in the 21st Century? The economic centre of the world is moving from the Atlantic to the Pacific, from Europe and the US to Asia. Russia has already pronounced itself to be an 'Eurasia' and US has declared Asia to be a region after attempting to break away from it. The main purpose of this book is to propose some strategies for Korea's survival and prosperity in the 21st century and draw possible lessons for the other developing countries, derived from the past economic development strategy and various reforms to solve the recent economic crisis.