Pacific Regionalism

Abstract

O ver the past decade some of the policy-oriented international political economy literature has proposed the formation of a Pacific economic community, comprising the open market East Asian and North American states. Most of the proposals have stressed the high growth rates of several of the prospective East Asian members, especially Japan, and the rapid increases in trade and investment flows which have linked the United States more closely to those East Asian countries. A consultative association is envisaged in almost all these proposals. Representatives from the member states would become increasingly more aware of each other's interests and thus would endeavor to coordinate and harmonize the regional policies of their administrations. Hence, the regional economy would become more open, trade and investment would be stimulated, and there would be general increases in efficiency and welfare, especially because of the wider scope for dynamic expansion by Japan and its high-growth trading partners. The suggestions for Pacific Community formation have been given publicity mainly through a small network of private organizations, supported by business groups in Japan and the United States. This has had some influence on the orientation of Japanese policy, but little on that of the United States. In the Association of Southeast Asian Nations (ASEAN)-Indonesia, Malaysia, the Philippines, Singapore, and Thailand-most of the member governments have evidenced concern that their grouping would be weakened if they