Regional Economic Integration in East Asia with an Analytical Focus on ASEAN

Abstract

The 1997 Asian financial crisis, East Asian countries minds of their safety is to strengthen regional integration will. It is necessary to maintain regional integration in order to establish common interests in East Asia and to against benefits of EU and NAFTA under globalization. The development of regional economic integration in East Asia, not only deeply affects the country’s economic development within the region, but also has an effect on the international economic change in the future.

The most active economic development in three regions is Western Europe, North America and East Asia in today''s world. The first two areas have successively established a successful regional organization - the European Union (EU) and the North American Free Trade Area (NAFTA). Because the East Asian countries have the economic and political diversity, but also have the typical “external interference” of features in international relations. Therefore, this paper based on “Heterogeneity” of regional integration to research carried out, with the traditional theory of regional economic integration is based on “homogeneous” both options will have different theories and ways.

To study of regional economic integration in East Asia is along the main line of the ASEAN’s integration process. From the ASEAN evolution and history find out the economic effects of the formation of ASEAN integration of the main driving force. However, the effects of the economic promotion of integration are limited in that time, the role of politics is to enable further integration of ASEAN. ASEAN Integration in East Asia, who played a standard model, mechanisms, as well as those who launched a buffer between China and Japan.

The ASEAN countries are small countries which lack of funds and the market so that the combined effects of limited dependent. The ASEAN countries must find to cooperate with Northeast Asia major powers such as China, Japan and South Korea. In addition to the East Asian integration process, the analysis of international factors outside the East Asian region how they affect the East Asian regional integration, but also can not be ignored.

East Asian countries are the basis of heterogeneity into the regional economic integration. Therefore, establishment of the East Asian integration mechanism based on market economic forces but through the power of leading the government to accelerate the establishment of institutional mechanisms. As for review and analyze the mechanism of regional economic integration in East Asia development process and the basis of this analysis of East Asian regional economic integration on the political and economic effects, may explain the development of East Asian regional economic integration and the integration of future possibilities.

The results of this study are the following findings: First, the East Asian regional integration theory is based on heterogeneous integration. Traditional integration theory stressed that the countries involved in regional economic integration with homogeneity. The East Asian countries are heterogeneous integration, regional economic integration in East Asia therefore turned to the heterogeneity of the development of theoretical innovation. Second, the East Asian economic integration model is the multi-track integration. East Asian regional economic integration, initiated by the ASEAN, through the 10 +1, 10 +3 mechanism and bilateral FTA, economic integration in East Asia is an innovative model. Third, the weak institutional arrangements are needed to meet the regional integration in East Asia. Fourth, China and Japan are the real dominant force in East Asian regional economic integration process, but the Association of Southeast Asian Nations is the initiator of the integration mechanism, is to promote the smooth development of the East Asian regional integration process.