ABSTRACT
In this first of three chapters on the Asia-Europe Meeting’s (ASEM) role in economic cooperation between Asia and Europe, the structure of relations between the two groups at the time of ASEM 1 (1996) will be broadly outlined. As argued in the previous chapter, knowledge of this structure, no matter now approximative, and of its evolution is essential to assess the willingness and capacity of participants to engage in a dialogue that fulfills the ideal conditions enumerated earlier. For the moment, our analysis will demonstrate that although Europe is a powerful economic actor at the international level, in its relations with Asia, it is in significant respects weaker as compared to the USA and Japan. Given this weakness, its overall objective is market access for European goods and capital, which it wishes to obtain – and indeed can only obtain – through dialogue. On the Asian side, it goes without saying that most of the Asian participants are heavily dependent on access to the European market for trade, but rapid economic growth in some Asian countries increased their attractiveness to Europe and potentially enhanced their bargaining power.
