Transforming East Asia: The Evolution of Regional Economic Integration [Paperback]

Naoko Munakata (Author)

Book Description

ISBN-10: 0815758871 | ISBN-13: 978-0815758877 | Publication Date: September 5, 2006

East Asian economic integration is on the rise. In the past decade, all of the region's powers have begun negotiating free trade agreements with their neighbors. They are also exploring broader regional options, such as the creation of an East Asian summit or free trade area. These developments have not always been welcomed by observers in other parts of the world. Some fear that they mark a turn away from integration into the global economy and herald the emergence of a closed, inward-looking bloc.In this timely and important book, Naoko Munakata offers an alternative perspective, based on her experience as an economic official and trade negotiator over the past 20 years. East Asian integration, she argues, is not driven by defensiveness or anti-Western sentiment. Instead, it reflects pragmatic calculations of economic interest, as well as a desire for mutual trust and a sense of community. Munakata makes her case by analyzing developments in the region since the mid-1980s, highlighting such important factors as the evolution of Asia-Pacific Economic Cooperation (APEC), the impact of the 1997?98 Asian financial crisis, and the rise of China. She also outlines possible future scenarios for the region and offers policy prescriptions for building on regionalism's achievements to date.Over the coming decades, the rise of China, its relationship with Japan, and the institutional arrangements that bind those countries to the United States and the countries of East and Southeast Asia will become critical factors in the global balance of power. Transforming East Asia is essential reading for anyone seeking to understand the roots of this transformation.

Editorial Reviews

Review

"More than 20 years of strong economic growth in Japan, Taiwan, Korea, Hong Kong and China has led to significant structural changes in those countries and has resulted in rapid economic integration in East Asia. This economic integration, in turn has fundamentally impacted on the world economy and on global politics. Munakata's Transforming East Asia provides an excellent review of these important events." —Jordan Shan, Victoria University and Peking University, Asian-Pacific Economic Literature, 11/1/2007

"I recommend this book to anyone who is interested in understanding the broad array of institutional arrangements for trade and investment in the East Asian region. A great strength of this study is the way in which Munakata analyzes these developments in the context of the changing role of the major powers in the region, a story that continues to unfold. Meticulously researched, and written in an engaging style, Transforming East Asia is a useful introduction for those seeking a comprehensive overview of the growth of regional economic integration and cooperation over the past twenty years, but it also points the way towards useful policy prescriptions and potential scenarios for the future." —Ann Capling, University of Melbourne, The China Journal

About the Author

Naoko Munakata is a director in the manufacturing industries bureau of Japan's Ministry of Economy, Trade, and Industry and a former visiting fellow at the Center for Northeast Asian Policy Studies at the Brookings Institution.

Product Details

• Paperback: 258 pages
• Publisher: Brookings Institution Press and Research Institute of Economy, Trade and Industry (Japan) (September 5, 2006)
• Language: English
• ISBN-10: 0815758871
• ISBN-13: 978-0815758877
• Product Dimensions: 9.1 x 6 x 0.7 inches
• Shipping Weight: 12.8 ounces (View shipping rates and policies)
• Average Customer Review: 4.0 out of 5 stars  See all reviews (1 customer review)
• Amazon Best Sellers Rank: #2,285,239 in Books (See Top 100 in Books)

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2 of 2 people found the following review helpful:

4.0 out of 5 stars Scholarly guide to regionalism in East Asia, September 20, 2009

By 

Rolf Dobelli "getAbstract" (Switzerland) - See all my reviews
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This review is from: Transforming East Asia: The Evolution of Regional Economic Integration (Paperback)

East Asia is at a turning point. Sudden economic growth and increased stability in the region are shifting Asia's geopolitical environment, and the effects are reverberating around the world. Naoko Munakata, a director in Japan's Ministry of Economy, Trade and Industry, has been a close observer of this transition. She offers a distinctive perspective on the progress of economic cooperation in East Asia. She is particularly critical (though always diplomatically so) of American missteps, such as the U.S. government's failure to participate in stabilization efforts during the 1997-1998 Asian financial crisis. Munakata recounts past events with an eye toward a future in which the U.S., Japan and China will accept and adapt to the new realities of East Asia. This detailed analysis of regionalism's emergence in East Asia is not a light read, but getAbstract finds that it deserves the attention of anyone whose responsibilities include Asian affairs.