The authors analyze the patterns of East Asia's trade and foreign direct investment (FDI) from a global and intraregional perspective, taking into account the importance of trade and FDI interlinkages. They propose two regionally-focused approaches to promoting trade and FDI in East...

Over the past decade, regional integration has become the focus of intense global interest and debate, and the regionalization of East Asia has figured prominently in that dialogue. East Asia can be described as a heterogeneous region that is both global and intraregional. The authors examine...

Japan has reached the limits of conventional macroeconomic policies. Lowering interest rates will not stimulate the economy because widespread excess capacity has made private investment insensitive to interest rate changes. Increasing government expenditure in the usual way will have small...