Shifting Ground: Is it Finally Time?

Vinod K. Aggarwal and Min Gyo Koo

Global Asia, 2006

We argue here that the traditional institutional order in East Asia has come under heavy strain in the wake of three key shocks and their aftermath: the end of the Cold War, the Asian financial crisis of 1997-98, and the September 11, 2001 attacks. Although East Asian countries maintain their traditional commitment to bilateral alliances and multilateral globalism, the erosion of their confidence in the conventional approach is increasingly visible, as manifested by the burgeoning interest in free trade agreements (FTAs), regional financial institutions, and cooperative security dialogues.

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