East Asian Regionalism

Origins, Development and Prospects for the Future

Abstract

East Asian regionalism is a dynamic process changing the political and economic environment of an increasingly important area of the world. The region has experienced a variety of cooperation mechanisms, including post-war American-led regionalism, the closed regionalism of the 1960s and 1970s, and the new regionalism of the 1980s and 1990s. Yet it was the 1997-98 Asian financial crisis that forced East Asia to embark on a deliberate and concerted effort to construct a regional architecture. Recent successes demonstrate the determination with which this task has been undertaken. The process has also attracted a considerable amount of attention. Despite some overly critical opinions, East Asian regionalism today should be recognized as a decidedly unique process with great deal of promise for the future.