ABSTRACT
Apart from calling into question the political systems of Pacifi c Asia’s many hitherto successful economies, another major consequence of the 1997-8 crisis has been the rise of what is known as East Asian regionalism, namely, the growth of governmental initiatives aimed at promoting regional economic cooperation. Although there had long been calls from East Asian political leaders for closer economic cooperation in Pacifi c or East Asia, the idea did not seem to take off until after 1997, partly fuelled by what Higgott (2000a) described as ‘the politics of resentment’. The handling of the fi nancial crisis by the West, the United States in particular, was widely perceived as an example of the West seeking to take advantage of the region’s vulnerabilities. Consequently, regional cooperation was promoted as an important way of counterbalancing the global dominance of the West.
