Asian Economies in Transition analyses and evaluates the experience of the eleven Asian economies undertaking the transition from central planning to a more market-oriented approach.China, Indochina, Mongolia, Azerbaijan and the Central Asian Republics are the focus of Richard Pomfret's book which begins with a detailed discussion of the Chinese model of transition highlighting its failures as well as its successes. Vietnam's experience, while offering the closest parallel to China's reform strategy, is shown by the author to contain more explicit macroeconomic policy reforms and greater practical attention to the problem of inefficient state enterprises.

Dr Pomfret also discusses the less happy experience of the Asian republics of the former Soviet Union, the break-up of the rouble zone, and the interesting counterpoint provided by the Mongolian economy. The Tumen River project is also examined as an example of cooperation between reformed and non-reformed Socialist economies.