Political Economy of Northeast Asian Regionalism

Political Economy of Northeast Asian Regionalism

Political Conflict and Economic Integration

Edited by Jehoon Park, T. J. Pempel and Gérard Roland

This book is an objective analysis combining both ‘insider’ and ‘outsider’ (most notably US) perspectives of Northeast Asian regionalism. It also usefully applies regional integration theories to the realities of the Northeast Asian situation and presents policy options for regional integration.

Chapter 1: Introduction: Perspectives and Positions of Major Countries

Jehoon Park

Subjects: asian studies, asian economics, economics and finance, asian economics, political economy, regional economics, politics and public policy, political economy

Extract

Jehoon Park Northeast Asian regionalism has been a keen issue since the 1997 Asian financial crisis, which confirms the argument that only crises stimulate regionalism. In contrast with the fact that Free Trade Agreements (FTAs) and security cooperation have not yet produced any real output, financial regionalism has been relatively successful in East Asia due to the lessons drawn from the Asian financial crisis. The North Korean nuclear issue could be the second source of momentum for regionalism in Northeast Asia. The Six Party Talks may become a regional forum which could be developed into a multilateral security cooperation organization in the region. It took some time for the intellectual community in Northeast Asia or East Asia to understand the implications and the meanings of the Asian financial crisis. It was only in 2001 that the intellectuals in the region began to organize their activities in order to suggest policy options for the long-term goal of establishing a regional integration body like the ‘Northeast Asian Community’. Among the prominent academic NGOs aiming at an international movement for Northeast Asian regionalism is NAIS Korea (Northeast Asia Intellectuals’ Solidarity Korea) which was established in 2001 as a result of the initiative of South Korean intellectuals. This chapter summarizes and evaluates various arguments suggested by papers presented at the five consecutive NAIS international conferences, including chapters from the monograph published by NAIS in 2004 under the title of Toward the Northeast Asian Community: Dreams and Realities of Asian Regional Integration (in Korean)...