Regional design in Asia-Pacific

As a result of the global financial crisis, conditions for cooperation in the Asia-Pacific region have increased rather than diminished.

First, China will soon surpass Japan in nominal GDP, becoming the second-largest economy in the world. The combined GDP of China and Japan accounts for about one-sixth of the world economy and the economic aggregate of East Asia will reach one-fifth of the world's total, if the Republic of Korea (ROK) and the Association of Southeast Asian Nations (ASEAN) are included. Considering the relatively high growth in China and other Asian economies and the shrinking or slow growth of the US economy in the future, the importance of East Asia in the global economy will keep rising.

Second, intra-regional trade in East Asia continues to grow and has exceeded the trade volume with the US and other regions respectively. China, Japan, the ROK and ASEAN have become each other's largest trade and investment partners. East Asia has seen de facto integration fueled by markets and private players.