The economy of Southeast Asia has been in relatively good shape in spite of the instability of the world monetary system, trade deficits, and the worldwide oil crisis. There are promising factors for economic growth, opportunities for employment, and possibilities of rising income. But Asian development presents short-and long-term problems of a very complicated nature. One of the most serious problems is inflation and its impact on the social and political programs of individual countries. At the same time, there are severe shortages of basic commodities, such as oil and food. My own country, Japan, is among those affected.
