Abstract
Abstract This paper examines newly emerging economic patterns in East Asia. Trade, investment and regional co‐operation all encouraged the rapid growth of the region. The role of US‐Japan economic relations and their interdependence are discussed. An upsurge of direct investment has changed the nature of international relations, particularly the interaction among people through corporate activities over and beyond national borders. The US‐Japan competition in Asia is considered not as rivalry but as a contributing factor to the economic growth of East Asia. The waves of growth are dynamically shifting its centre from Asian NIEs to ASEAN, from ASEAN to China and Vietnam, and to the rest of the region. Transfer of managerial resources is discussed. Some sub‐regional economic co‐operation and localized economic zones are presented in the context of this dynamic shift of growth centres.
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