Abstract
This paper discusses the role and activities undertaken by regional cooperation schemes in the Asia-Pacific region.Two types of regionalism have been noted, namely the institutional and the spontaneous.The former includes ASEAN and APEC, and the latter covers the overseas Chinese network and growth area initiatives like SIJORI. Considering that neither ASEAN nor APEC can play a substantive role in alleviating the Asian economic crisis, the possibilities for spontaneous regionalism are great.In order to recover from the crisis, fiscal measures are considered to be more effective than restoring the financial sector, and injecting funds into the active growth area initiatives is a method of invigorating the regional economy.Japan can support this method for collecting funds in advanced countries and allocating these in the Asia-Pacific.
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