The Formation of and Developmental Trends in the East Asian Economic Community

　　Abstract: Over the past 20 years, as regional economic integration has proceeded, the economies of East Asia have become increasingly close in terms of trade and investment relations. The level of trade dependence across the East Asian economies already rivals that of the European Union, and it might be argued that the region has transcended differences in political systems to form a model “natural economic community.” Most of the countries of the East Asia region share common cultural characteristics and similar values. Further, the states of East Asia have a deeper tradition of peaceful coexistence, and their economies complement one another more closely than do those of the states of the European Union. As a result, there is a strong cultural and historical basis for East Asian economic cooperation. The deepening of economic integration also presents advantages with respect to promoting intergovernmental institutions. While political figures within the region have different views with respect to integration, their different perspectives will only be able to decrease or increase the speed of the process at the margins.

　　Author: Zhuang Guotu is a Professor in the Department of International Relations of the Nanyang Institute of Xiamen University