East Asian Regionalism: A New Momentum for Multilateralism?

East Asian countries continue to sign mega-Free Trade Agreements, indicating certain momentum for promoting cooperative economic relationships, despite protectionism fears. This paper examines East Asian regionalism after the Asian Financial Crisis in 1997 and discusses the dynamics of institution building among the United States, China and Japan. It also explores what ASEAN countries, South Korea and Australia should do to mitigate the tension in the region and facilitate progress in the open economic order.