The recent regionalization in East Asia can be defined in terms of
regionalization cum globalization. In the case of Europe, regionalization was
originally intended to create a preferential and protected area. From its inception,
however, regionalization in East Asia emphasized open membership and global
liberalization. This so-called open regionalism was then adopted as a fundamental
principle of the Asia-Pacific Economic Cooperation (APEC). Given that APEC is an
inter-regional institution, however, the concept of open regionalism is not applicable
to characterize exclusively Asian integration process that gained momentum on the
basis of the ASEAN+3 framework. For many East Asian countries, a regionalization
initiative, especially after the 1997 financial crisis, was a natural response to cope
with globalization. Indeed, although East Asian economies are increasingly
regionalized, the global market remains crucial and exclusively Asian arrangements
are still rare. Globalization and regionalization processes are mutually reinforcing.
Singapore is one example that developed into a regional economic hub through the
regionalization cum globalization strategy. Given that Korea concluded recently two
important free trade areas with the USA and the EU, Korea is also capable of
building such a regional economic hub. The first step is to strengthen a cooperation
network between the three Northeast Asian countries, China, Japan, and Korea. This
network, together with ASEAN, is expected to catalyze the regional integration in
East Asia and shape its future evolution
The recent regionalization in East Asia can be defined in terms ofregionalization cum globalization. In the case of Europe, regionalization wasoriginally intended to create a preferential and protected area. From its inception,however, regionalization in East Asia emphasized open membership and globalliberalization. This so-called open regionalism was then adopted as a fundamentalprinciple of the Asia-Pacific Economic Cooperation (APEC). Given that APEC is aninter-regional institution, however, the concept of open regionalism is not applicableto characterize exclusively Asian integration process that gained momentum on thebasis of the ASEAN+3 framework. For many East Asian countries, a regionalizationinitiative, especially after the 1997 financial crisis, was a natural response to copewith globalization. Indeed, although East Asian economies are increasinglyregionalized, the global market remains crucial and exclusively Asian arrangementsare still rare. Globalization and regionalization processes are mutually reinforcing.Singapore is one example that developed into a regional economic hub through theregionalization cum globalization strategy. Given that Korea concluded recently twoimportant free trade areas with the USA and the EU, Korea is also capable ofbuilding such a regional economic hub. The first step is to strengthen a cooperationnetwork between the three Northeast Asian countries, China, Japan, and Korea. Thisnetwork, together with ASEAN, is expected to catalyze the regional integration inEast Asia and shape its future evolution
การแปล กรุณารอสักครู่..