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China and East Asia's Post-Crises Community - A Region in Flux (Hardcover, New)
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China and East Asia's Post-Crises Community - A Region in Flux (Hardcover, New)
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China 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, lacking any leader nation,
grand vision, or ideology. The manner in which the region comes to
work together also has implications for the governance of the world
economy, in particular the economic model that underlies policy
formulation, the working of the international financial system, and
the approach to the multilateral trading system.From a security
oriented US-centric regional structure characterized as the hub and
spokes system set up after the Second World War, this region is now
more nearly an informal economic community, which increasingly
appears to be China-centric. China and East Asia's Post Crises
Community presents one of the first attempts to weave together
different strands of the current discussion to develop a framework
for understanding a rapidly evolving East Asia region.
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