Looking Towards Greater Economic Integration in East Asia

Junichi Ihara, Acting Deputy Chief of Mission and Head of the Economic Section, Embassy of Japan, Washington, D.C.

Minister Ihara examined the role of the United States in the regionalization of East Asia and what Japan expects from the U.S. Economists believe the U.S. must continue to play a key role in Asia as a stabilizing force.

Minister Ihara explored how the idea of East Asian community-building has developed and the relationship among countries engaged in the ASEAN Plus Three process. This dialogue brings together leaders from the ASEAN, Japan, China, and South Korea, looking to achieve greater regional economic integration.

He also discussed the East Asia Summit that is to be held for the first time in Fall 2005. This could be the first step towards community building in East Asia. Some economists predict a free trade area starting in the north of China and extending to New Zealand and Australia. The Summit will bring together leaders from the countries of the ASEAN, Japan, China, South Korea, India, Australia and New Zealand.