Description
Book SynopsisChina and East Asia's Post-Crises Community: A Region in Flux, by Wei Liang and Faizullah Khilji, explores how an East Asian community is taking shape as a result of China's emergence as a global economic power and the shocks of the financial crises emanating from the globalized financial system. Today's East Asia shows a sharp break from the East Asia of the Cold War era, in both basis and orientation. Important elements in this shift include the regional economic integration propelled by China's emergence as a processed manufacturing center in the world economy, the common problems posed by the working of the dollar-based international financial system, and the desire to develop institutions that help to formalize the economic integration and financial cooperation that is taking place, and may thus help protect and safeguard economic prosperity in the region. Liang and Khilji show how the approach to regional economic cooperation and developing institutions comes from the bottom up,
Trade ReviewIn a series of empirically rich chapters, Wei Liang and Faizullah Khilji convincingly show how, even despite the absence of a leader and a master plan, an East Asian space formed as a result of the 1997-98 Asian Financial and 2008 Global Economic Crises, Western inertia and policy failings, East Asian successes, the rise of China-centric production networks, national interests, and the demise of traditional security imperatives, which collectively delegitimized conventional dogmas and players, and supported new forms of regional collaboration. -- Jean-Marc F. Blanchard, San Francisco State University
Table of ContentsChapter 1. Introduction Chapter 2. Asian Financial Crisis and the Resort to Regional Cooperation Chapter 3. Processed Manufacturing and Trade Cooperation Chapter 4. The Global Financial Crisis of 2008 and China’s Response Chapter 5. East Asian Perspectives on Economic Policies Chapter 6. East Asia as a Community in Flux
