Suchergebnisse

The need for deeper financial and trade cooperation in East Asia became clear through the experience of the East Asian financial crisis. The imperatives of East Asian cooperation mean that the quest for East Asian influence and leadership on regional and international affairs through ASEAN + 3 will continue. However, the creation of an East Asian Economic Community requires leadership and a model that is consistent with East Asian (not European or American) circumstances. Japan's changing role in the regional economy prompted policy initiatives such as espousal of bilateral free trade agreements (FTAs) aimed at closer East Asian regional economic and political links. This fundamental shift in Japan's trade policy diplomacy was effected without public debate in Japan and the reactions to it from partner countries, almost entirely unanticipated by Japanese policymakers, led to some confusion in policy strategy. Discriminatory regional trade arrangements do not reflect the needs and circumstances of the East Asian economy at the beginning of the twenty-first century, and specifically the need to accommodate the growth and opening of the Chinese economy within the regional and global economic systems. The proliferation of FTA arrangements, with increasingly complicated rules of origin, is more likely to distort and derail rather than to encourage broader and deeper economic integration. The objectives of 'closer economic partnership' arrangements are better served by nondiscriminatory trade agreements than by distorting and limited bilateral FTAs. Many of the features of the East Asian economy have not fundamentally changed. It continues to be distinguished by its extra-regional trade and economic reach. Large flows of FDI, particularly into China, cement economic interaction with the global economy. Both economic and political considerations have influenced thinking among the Chinese leadership about the change in trade policy strategy. The sensible and rational choice for China is a global choice, the acceptance and entrenchment of global obligations and responsibilities in a multilateral 'pluralist' setting.

The need for deeper financial and trade cooperation in East Asia became clear through the experience of the East Asian financial crisis. The imperatives of East Asian cooperation mean that the quest for East Asian influence and leadership on regional and international affairs through ASEAN + 3 will continue. However, the creation of an East Asian Economic Community requires leadership and a model that is consistent with East Asian (not European or American) circumstances. Japan's changing role in the regional economy prompted policy initiatives such as espousal of bilateral free trade agreements (FTAs) aimed at closer East Asian regional economic and political links. This fundamental shift in Japan's trade policy diplomacy was effected without public debate in Japan and the reactions to it from partner countries, almost entirely unanticipated by Japanese policymakers, led to some confusion in policy strategy. Discriminatory regional trade arrangements do not reflect the needs and circumstances of the East Asian economy at the beginning of the twenty-first century, and specifically the need to accommodate the growth and opening of the Chinese economy within the regional and global economic systems. The proliferation of FTA arrangements, with increasingly complicated rules of origin, is more likely to distort and derail rather than to encourage broader and deeper economic integration. The objectives of 'closer economic partnership' arrangements are better served by nondiscriminatory trade agreements than by distorting and limited bilateral FTAs. Many of the features of the East Asian economy have not fundamentally changed. It continues to be distinguished by its extra-regional trade and economic reach. Large flows of FDI, particularly into China, cement economic interaction with the global economy. Both economic and political considerations have influenced thinking among the Chinese leadership about the change in trade policy strategy. The sensible and rational choice for China is a global choice, the acceptance and entrenchment of global obligations and responsibilities in a multilateral 'pluralist' setting.

This book considers themes, evidence and ideas relating to the prospects for regional leadership in East Asia, with particular reference to China and Japan assuming 'regional leader actor' roles. Key issues discussed by the list of distinguished contributors include: the extent to which there is an East Asian region to lead, China-Japan relations, different aspects of Japan and China's positions in the East Asia region, how the seemingly inexorable rise of China is being addressed within the region, how China and Japan have explored paths of regional leadership through certain regional and multilateral organisations and frameworks, the position of certain 'intermediary powers' (i.e. the United States and Korea) with regards to regional leadership diplomacy in East Asia. Invaluably, the concluding chapter brings together the main findings of the book and presents new analytical approaches for studying the nature of, and prospects for leadership in East Asia

This book will be an important addition to the limited number of books that discuss finance and accounting issues in East Asian countries. While presenting recent empirical studies on finance and accounting in East Asian economies, it also reveals the underlying reasons for remarkable economic growth and emerging performance of the financial markets in the East Asian countries. It introduces newly developed financial products, institutions, governance mechanism, banking policy changes and their implications in the East Asian economies, and discusses the way forward for these economies with rec

1. Brunei Darussalam : participation in ASEAN and ASEAN Plus Three / Azaharaini HJ. Mohd. Jamil -- 2. Cambodia : from isolation to involvement in regional community building / Sorpong Peou -- 3. Indonesia : maintaining a leading role in the making of the ASEAN and APT community / Mangadar Situmorang -- 4. Laos : economic and social development towards the ASEAN Economic Community (AEC) / Phouphet Kyophilavong, Somchith Souksavath and Sengchanh Chantasene -- 5. Malaysia and the development of Asian regionalism / Nor Azizan Idris and Zarina Othman -- 6. The Republic of Union of Myanmar and the ASEAN and APT processes / Maung Maung Soe -- 7. The Philippines : everything in place / Jose Rhommel B. Hernandez -- 8. Singapore : the dynamics of city state development and relations with ASEAN and APT / Kong Chong Ho -- 9. Thailand : political, economic, and social development towards a closer community / Pinn Siraprapasiri -- 10. Viet Nam in ASEAN Plus Three : cooperation for a better future / Nguyen Hong Son -- 11. China : an emerging power in the making of the APT community / Wei Min -- 12. Japan : living in and with Asia / Sachiko Hirakawa -- 13. Major perspectives of South Korea and ASEAN cooperation / Pan Suk Kim.

The Association of Southeast Asian Nations (ASEAN) has been existing for 40 years. Starting out
as a security alliance in the sixties, it gradually developed into a genuine Southeast Asian institution
after the end of systemic bipolarity, now encompassing all the states and their economic interests
in the region, especially after the asian crisis in 1997. ASEAN has often been labelled as a paper
tiger, lacking effective means to solve cooperation problems between states in southeast Asia. Does
this model still apply to the present situation? The main argument of this paper is that ASEAN is
not trying and will not be able to establish effective supranational mechanismus like in the EU. At
this time, its main functions lie a) in the initiation of new economic institutions in the region like
ASEAN+3 and the East Asian Summit, b) the integration and balancing of great powers like China,
India, Japan, Australia and the USA. Hence, ASEAN is an important regional actor at the interface
between economic interests and power in East Asia.

China has rapidly developed a sophisticated regionalism strategy in East Asia. Minimising the region's "China threat" perception has been a significant consideration in this strategy. Unfortunately, the ongoing escalation of tension concerning territorial disputes over the Diaoyutai / Senkaku Islands and the South China Sea, initiated by a series of high-profile naval exercises in the latter half of 2010, has reinforced the "China threat" perception and bolstered the hedging strategies of countries in the region. China is aware of its relative disadvantage, and it has been keeping its options open while allowing ASEAN to maintain the initiative. (China Perspect/GIGA)