The VN are hard-core Republicans; Chinese tend to vote Democratic, yet they too fully embrace individual initiative. The UC system is currently concerned about Asian 'over-representation' - they're something like 65% of the undergrad population.
The West was unique in that certain factors came together that enabled us to develop the society/culture that we currently enjoy. That being said, however, I don't think we have a monopoly on self-governance - these are principles that can taught/learned by anyone capable of understanding.
Those that 'get it' understand what it is and move quickly to adopt and adapt; those that don't merely replicate what they left behind.
I guess we will find out soon enough!
I'll add that while there is no question as to the industriousness of Asians, their cultures are somewhat resistant to embracing notions such as human rights, diversity, and tend to be ethnocentric. This can adversely impact self-governance. And while Asian nations like Japan seem to have taken to democracy quite well, much of that I believe is due to America's strong influence on Japan.