Japan seems to consider the formation of a Pacific Basin Community as a desirable long-range goal, provided that it remains "open" to the rest of the world. The question of leadership and membership is kept open so as to avoid the impression of domination by larger economic powers and of a...

The expansion of trade relationships among East Asian economies along with the high economic growth rate in these countries within the last three decades has demonstrated their accomplishment in transferring the benefits of trade into their economies and increasing their production capacities....