edited by Calla Wiemer (East Asian Institute, National University of Singapore, Singapore) & Heping Cao (Peking University, China)

This volume is the outgrowth of a conference held at Peking University in May 2002, jointly sponsored by the American Committee on Asian Economic Studies, the Peking University School of Economics, and the China Reform Forum. The contributors include leading scholars from Asia as well as specialists on Asia from the US, Europe, and Australia. The book delves into issues of trade and investment, exchange rates and macroeconomic policy, and preferential trade agreements and other forms of economic cooperation. The overall message is one of regional dynamism animated by concerted efforts to build a favorable institutional environment. China is a great motivating force in this dynamism and a key player in the development of regional agreements.

• Introduction: China's Economic Presence (C Wiemer)
• Regional Economic Integration:
  • Inaugural Address (M-H Shin)
  • Globalization: What It Is and Who Benefits (D G Johnson)
  • Prospects for an Asian Currency Area (R Mundell)
  • The European Central Bank and the International Role of the Euro (J Schroeder)
  • Asian Economic Community: Intra-Community Macro- and Micro-Economic Parameters (M Dutta)
  • East Asian Economic Cooperation: The “10+1” Mechanism for Moving Forward (J Ye)
  • Pax-Americana-Led Catch-Up, Flying-Geese Style: Regionalized Endogenous Growth in East Asia (T Ozawa)
  • Asian Economic Integration: A Perspective on South Asia (S M Khan & Z S Khan)
• Asian Policy and Performance:
  • Can East Asia Rise Again? (T-S Yu)
  • Identifying Terms of Trade Effects in Real Exchange Rate Movements: Evidence from Asia (M Dungey)
  • Industrial and Commercial Firms' Response to the Asian Crisis: A Logistic Approach (S Reynolds et al.)
  • Moral Hazard and Legal Regulation in the Financial Market: Japan's Mega-Bank Mergers (Y Shimizu)
• Focus on China:
  • Bank Regulation in China: Property Rights, Incentives, and Accountability (Y Guo)
  • Foreign Direct Investment in China: An Analysis of Source Country and Sector of Utilization (W Wei & M Dutta)
  • Agglomeration Economies and FDI Spatial Distribution: Evidence from Joint Ventures in China (C Tuan & L F Y Ng)
  • Korea–China Technological Cooperation (Y-T Lim)
  • ASEAN–China Free Trade Area: Background, Implications and Future Development (S Chirathivat)
  • Preferential Trade Agreements and China's Trade (R Clarete et al.)