East Asia and the Reorientation of the World Economy: Building a Regional Institutional Infrastructure

  • Eisuke Sakakibara
Conference paper


In the wake of the events of September 11, 2001, many people, particularly Americans, argued, that the world would never be the same again. However, as the shock slowly fades, a more sober analysis of the current situation seems to have emerged. It is hard to believe that one incident, however grave, could suddenly change the world. Indeed, September 11 has changed our perception of the world, but this change seems to have been going on since the mid-1990s. The change in perception has occurred particularly among Americans. The terrorist attacks on the World Trade Center and the Pentagon powerfully brought home to Americans that they, too, are vulnerable to direct attack and that the far-flung web of bases the United States maintains around the globe are no longer sufficient for the country’s defense. The United States, in other words, recognizes that it is in the same boat as the rest of the world.


European Union Foreign Direct Investment International Monetary Fund Free Trade Area Regional Agenda 
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  1. Stiglitz J (2001) From miracle to crisis to recovery: lessons from four decades of East Asian experience. In: Stiglitz J, Yusuf S (eds) Rethinking the East Asian Miracle. World Bank and Oxford University Press, New York, pp 509–526CrossRefGoogle Scholar

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© Economic Research Center, Graduate School of Economics, Nagoya University 2004

Authors and Affiliations

  • Eisuke Sakakibara

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