Abstract: Criticizing neo-liberal ideology, in which market forces are assumed to operate according to immutable laws no matter where they are unleashed, increasing numbers of critical social scientists have recently emphasized the contextual embeddedness of neo-liberal restructuring projects. In particular, they have highlighted that neo-liberal ideas and practices have been produced within the national, regional, and local contexts defined by the legacies of inherited institutional frameworks, policy regimes, regulatory practices, and political struggles. Yet much of this discussion has tended to focus on Europe (especially the UK) and the Western hemisphere. What has happened to the neo-liberal changes in the Asian developmental states (e.g. Japan, South Korea, Taiwan, Singapore, Malaysia, China etc.)? In particular, how have the neo-liberal ideas and practices been re-constructed in the Asian countries that have strong path-dependent properties of inherited regulatory landscapes of the “developmental state”? Also, is it agreeable to use the language of “neo-liberalization” to describe the recent market-oriented restructuring processes in the Asian developmental states even though they are hardly “neo-liberal” in terms of their characters and origins? This three-year research will examine the ways in which these Asian countries have been going through these changes within the national, regional and local contexts defined by the legacies of inherited regulatory practices and ideology of the “state-led developmentalism” and the associated political struggles.