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China is rising as the fastest growing largest economy and thereby leading a market-driven economic integration in East Asia. At the same time, nationalism is also rising and constraining East Asian countries from forming a state-driven regional community. This paper examines the political economy of interdependence and nationalism that is taking place in East Asia. Simply put, its central theme is that the degree of interdependence, especially between China and other countries, is deepening, and as a result, is pulling East Asia toward regional integration, but due to the rising tide of nationalism, it is far short of forming an actual community. In order to build a community, therefore, such economic trend must be propelled by political leadership and will. In elaborating on this thesis, the paper analyzes the trade and production networks centered on China, the efforts to promote regional integration in ASEAN + 3, the nationalist rivalry between Japan and China in negotiating FTAs, and the difficulties in achieving Sino-Japanese reconciliation. Finally, the paper proposes a Northeast Asian Forum among Japan, South Korea and China while the US remains as a stabilizing force in East Asia. [ABSTRACT FROM AUTHOR]

Recent developments in the relationship between East Asian countries and prospects for further cooperation are discussed, together with analysis of the driving forces for proliferation of free trade areas (FTAs) and preferential trade arrangements(PTAs), as well as the different types of arrangements. The evolution of the key features of such economic cooperation agreements are outlined and the challenges and issues facing more extensive East Asian economic integration are reviewed. The paper concludes with recommendations for bringing about a viable, effective East Asian economic community that will benefi t member countries and contribute positively to global trade. [ABSTRACT FROM AUTHOR]

Maritime security in East Asia is essential to the peace and prosperity of the world. Today, serious problems in this domain have arisen in the region. Resolving these problems is a pressing issue that impacts not just the region, but also the preservation of the peace and prosperity of the entire globe. Despite this urgent need, cooperative frameworks for preventing problems from arising in the first place—as opposed to mere security regimes for deterring conflicts—have yet to be organized. To preserve a maritime security order in East Asia that is based on laws and rules, mechanisms based on mutual trust must be arranged for deterring and preventing conflict. Based on the foregoing, the Institute for International Policy Studies (IIPS) has been engaged in research on problems of maritime security in East Asia. In December 2015, IIPS held the High-Level Conference on Maritime Security in East Asia and unveiled the “Yasuhiro Nakasone Proposal on Maritime Security in East Asia” (the “Nakasone Proposal”). This paper will discuss the “Nakasone Proposal” and the background to its formulation, as well as the institute's future endeavors. [ABSTRACT FROM PUBLISHER]

Japanese foreign policy six decades after the end of World War II stands at a crossroads. The forces of globalization and the rise of the BRIC nations (Brazil, Russia, India, and China) seem to herald the end of the unipolar post-Cold War international system and the emergence of a new era defined by multi-polarity and multilateralism. Such global trends are manifest most clearly in Japan's own backyard, where phenomenal region-wide economic growth, a gradual redistribution of power (in particular the rise of China and India), and the increasingly important role of multilateral cooperation and regional institutions are dramatically transforming East Asia. This trend shows no signs of slowing down, much less reversing itself; nor would it be in Japan's interest to pursue any policy that seeks to do so. Nevertheless, the transformation itself remains almost on auto-pilot, lacking a clear long-term guiding vision. After presenting a brief overview of Japan's past policy toward the region, the goal of this paper will be to articulate such a vision through a series of policy proposals through which to ensure future peace, stability, and prosperity in East Asia. [ABSTRACT FROM AUTHOR]

The nature of the East Asian terrorist threat is obviously most acute in Southeast Asia. In dealing with that threat there are three levels of action to pursue. The first relates to the domestic developments nations can all be expected to take individually within their respective countries. Secondly there's the broader international cooperation that nations undertake through organisations such as the UN, G8, ASEAN and APEC. The third area for action and cooperation is the support given directly to individual countries in Southeast Asia, and in particular, the aid and assistance to develop and enhance their own domestic capabilities to combat terrorism. The bombing of the Australian Embassy in Jakarta emphasises that the priorities for assistance and cooperation are in the field of intelligence, namely to gain a better understanding of the terrorists and their motives and the requirement for the exchange of intelligence between regional countries. * This paper is an updated version of a presentation made to the 'International Counter-Terrorism Situation and Cooperation' Symposium, Beijing 11-13 May 2004. [ABSTRACT FROM AUTHOR]

We may expect regional response to the tension and conflict in Asia begun by China in 2009 gradually to transform the international order in that region, where the United States has been the active great power. Today the United States is so overextended in commitments and so lacking in force structure (and political will) that she can no longer play that role. Nor, however, has China succeeded in her initial assumption that regional powers would defer to her vastly increased military power. Unless China finds a way to extricate herself, we may expect regional powers, each strengthening herself, to grow closer together as a group in which Tokyo plays an unaccustomed central role, both in diplomacy and arms supply, although in coordination with the United States. North Korea is also highly dangerous. The likely outcome is greater military strength generally, with South Korea and Japan nuclear powers. [ABSTRACT FROM PUBLISHER]

This article explores how South Korea relates to China's national security objectives in East Asia. Specifically, it argues that for China, the strategic value of South Korea lies in coping with the strong position of the US in East Asia. Moreover, South Korea's stance on the North Korean nuclear issue is closer to China's, compared with that of the US. [ABSTRACT FROM AUTHOR]

The defects of the current international fi nancial system are creating tremendous distortions in the economies of East Asia. For the time being, most of the developing countries in East Asia have no choice but to adopt some sort of a fl exible, wider band system (crawling band) while resorting to capital control when necessary, in order to avoid the recurrence of the Asian currency crisis. Japan's approach to building a stable international fi nancial system in East Asia has gone through several stages since the late 1970s. Though the latest approach of setting up the Asian Bond Fund (ABF) is a step in the right direction, the ABF has severe limitations in reducing the risks for the developing countries in Asia. The ABF needs to be replaced by the Asian Bond Corporation (ABC) in order to develop an international capital market in Asia and use the abundant saving in Asia for fi nancing the growth of Asia. In the process of expanding the activities of the ABC, Asia can adopt the notional common currency based on a basket of major currencies. That notional currency will pave the way toward introducing the Asian common currency, which can be the ultimate goal for the economic cooperation and integration in East Asia. In the meantime, while enhancing currency cooperation, East Asia needs a lender of the last resort in order to keep its economy from collapsing from another currency attack. Japan has been trying to play that role and is poised to take that responsibility as the largest and the most developed economy in the region. International capital markets and a truly international currency must be supported by numerous institutions and intellectual frameworks. Asia is yet to build those institutions. To help build those institutions, we in East Asia need to establish a new international research institution which would coordinate the strenuous intellectual efforts needed for building institutions that bolster the international capital market in Asia. The envisaged new institute can be dubbed the "Asian Monetary Institute," or "AMI." [ABSTRACT FROM AUTHOR]

The 1997 financial crisis dealt a severe blow to Asia's self-confidence. In the following article, Professor Ippei Yamazawa, of the Graduate School of Asia-Pacific Studies at Waseda University and the Institute of Developing Economies, examines the effect of regionalism on East Asia before and after 1997. On the surface, regional trade arrangements (RTAs) would seem to repudiate the WTO's multilateral trade liberalization efforts but Yamazawa argues that if RTAs are pursued in parallel with multilateral trade talks then they would complement, rather than compete against, multilateral trade arrangements. He concludes that APEC could find itself a useful role as the intermediary between RTAs and the WTO. [ABSTRACT FROM AUTHOR]

How and why do countries democratize? Why does the military intervene in politics? The development of a country from an authoritarian regime to a system of democratic governance is a process which has fascinated scholars and politicians alike. In the following article, Fidel V.Ramos, former president of the Philippines (1992–1998) and president of the Ramos Peace and Development Foundation, Inc., provides his own perspective on the role of the military in shaping and protecting a society, delving into his own experiences as a former army general and defense secretary. He also examines the rationale behind, and current status of, East Asian countries in the process of transformation from a military regime to a democratically governed society. [ABSTRACT FROM AUTHOR]