In mid-May 1997, a financial crisis erupted in Asia after an attack by private investors on the baht, the Thai currency. The crisis spread quickly across the region, where investor confidence plummeted, resulting in massive capital outflows, stock market collapses, high unemployment, and even insurrection. The Asian 'ecomic miracle' that had stimulated so much awe and even dread, w invoked pity and apprehension in greater measure. The contributors to this volume investigated change in the invation and production systems of Asian states in response to ecomic and political upheaval. They conducted empirical studies of several regional industries - autos, semiconductors, and hard disk drives - and seven different national ecomies: China, Malaysia, Japan, Singapore, South Korea, Thailand, and Taiwan. In the face of crisis and global competition, the Asian states superimposed change at the margins, seeking unique techhybrid solutions to build capabilities to compete in local, regional, and even global markets.