In the 1980s, then Malaysian prime minister Mahathir Mohamad launched his “Look East” policy, urging his country and others in Southeast Asia to emulate the state-led economic development models of Japan, South Korea and Taiwan, rather than those of market-dominated Western nations. China subsequently emerged as a prime example of state-led development, but Japan is now leaning again towards a more dirigiste model under the administration of Japanese Prime Minister Sanae Takaichi, not only in...