The rise of China and regional integration in East Asia
Wiley-Blackwell Publishing Ltd.
School of Business and Law
Over the past decades, East Asia has achieved one of the most profound economic transformations in recorded history, and has become the most dynamic economic region and one of the most integrated areas in the world. However, regional and economic integration in East Asia is a relatively new phenomenon. Largely reflecting the diversity of the economies, the East Asian regionalism follows a markedly different pattern from that in Europe and other regions. In the absence of a formal institutional framework, the regional integration in East Asia has been driven by market forces and by the development of increasingly sophisticated production sharing and intra-regional network trade, in which China's rapid growth has been instrumental.