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This book is a compendium of papers on various new movements that emerged after the Asian financial crisis, which lead to Asia becoming the enhanced growth center of the world. Beginning with the analysis of the Asian crisis and the subsequent capital flight, the book goes on to study the impact of these events on the Hong Kong economy, the role of the government in Indonesia and financial restructuring in Thailand. The book then explores the new movement of regional cooperation, such as Free Trade Agreement, and financial cooperation and integration. On the real side of the economy, the book delves into issues such as cooperation between Japan and China, development of the Greater Mekong sub-region, growth of China, fiscal coordination in Korea, technological network in East Asia, and growth and inequality in Vietnam.
This book analyzes to what extent, and how, South Korea may contribute to, and take advantage of, the new regional configuration in East Asia which is dominated by the rise of China.
"The objective of this paper is to examine the exact nature of the Chinese challenge for the Korea and assess what may be the most appropriate response to mitigate the risks and maximize the potential benefits associated with it. The paper also suggests that this FTA has to be associated with other arangements with China and ASEAN, if Korea wants to keep some leverage over the future of the East Asian integration process"--P. [4] of cover.