Abstract
By using the concept of a “latecomer,” this chapter first gives a comparison between Asian development and European development. Intraregional competition is more severe in Asia than in Europe. As most Asian economies are not connected by land, economic cooperation in Asia can be problematic, especially when there is a lack of complementarity. The Southeast Asian nations are seen as the next group of “latecomers” in Asian development, but competition from China can disrupt the regional picture, as no economy in the region can show sufficient strength compared to China. The rise of China is seen both as a blessing and as a curse. Given that China’s outward investments are very different from that of Japan, countries that are prepared to gain the economic benefit from China could face political costs. The incidents in both the East China Sea and South China Sea should provide a hint as to China’s regional ambition.
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