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[ 172 ] asia policy East Asian Multilateralism: Prospects for Regional Stability Kent E. Calder and Francis Fukuyama, eds. Baltimore: Johns Hopkins University Press, 2008 • 296 pp. This book examines the historical determinants of multilateral institutions in East Asia in order to uncover the constraints preventing the emergence of stronger multilateral structures. main argument When compared to Europe, East Asia faces an “organization gap” with regard to multilateral institutions. Although the region hosts relatively weak organizations like ASEAN (Association of Southeast Asian Nations) and APEC (Asia-Pacific Economic Cooperation), it lacks integrating groupings that can promote either trade and investment or security. Whereas the six‑party talks have been established to deal with North Korean nuclear weapons, there is no multilateral security framework for either integrating China into a regional system or else containing it. There are many historical reasons for this, including the historical and ideological enmities that prohibited cooperation among regional powers such as China, Japan, and Korea as well as the differing levels of regional development. Economic ties amount to a “spaghetti bowl” of bilateral trade agreements, whereas security is a legacy of the hub-and-spoke system centered on Washington. At the same time, the U.S. has opposed Asian multilateral organizations, such as the East Asian Economic Caucus or an Asian IMF, that would dilute U.S. influence. policy implications • Given the more than $3 trillion in reserves held by countries in East Asia, with greater cooperation the region could become a powerhouse in global finance. • AmultilateralsecurityorganizationforNortheastAsiacouldreassureChina, Japan, and Korea about long-term defense plans and help coordination for certain contingencies, such as the collapse of North Korea. • TheU.S.shouldseegroupsthatexcludeWashington,forexampleASEAN+3, not as a threat but as a means of integrating Japan and Korea more firmly into the region. ...

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