This book emerges from “the CREP project on the comparative regionalism of Europe, the Americas and East Asia” (p. xii). In light of the rising role of East Asia (ASEAN + 3) in the global economy, this book stimulates discussion among researchers and policy makers on the role of law and institutions in nurturing the growth of East Asian regionalism.

There are three parts in this book. Part I, which comprises the first six chapters, takes a comparative approach to analyze the current status of East Asian regionalism and discusses lessons learned from European and Latin American experiences. In the opening chapter, Kazushi Shimizu summarizes the institutional evolution of ASEAN (Association of Southeast Asian Nations), and identifies centrifugal economic and political forces that impede the growth of East Asian regionalism. Using case studies on mobile communication and television, Tomoo Marukawa demonstrates “the fragmentation of product standards and technical regulations in national markets” despite de facto regional integration among East Asian countries, and suggests that “harmonization of regulations and standards could stimulate intra-regional trade and enhance competitiveness in the global market” (p. xix). Eiji Ogawa and Kentaro Kawasaki present a case for regional currency and monetary coordination through a multistep process toward a common regional monetary unit in East Asia. In chapter 4, Barbara Stallings draws lessons from Latin American experiences by emphasizing the important role of active involvement and representation of private entities in governmental schemes and institutional operations of regionalism. Ken-ichi Ando relates the lessons of foreign direct investment and multinational enterprises management in European regionalism and regionalization to East Asia.

Part II, which is composed of chapters 7–9, discusses unique challenges in adopting the legal and institutional approach to East Asia regionalism as a result of disparities in legal and cultural traditions among member nations, as well as their economic and social differences. With an understanding of East Asian countries' political backgrounds of strong state sovereignty, Lawan Thanadsillapakul recommends an integration approach that is based on decentralized but coordinated regulatory networks, instead of a supranational institution, among members. She also calls for a stable dispute settlement mechanism for legal measures. In chapter 8, Dukgeun Ahn reviews the diversification of trade remedy rules concerning anti-dumping, countervailing, and safeguard measures adopted by East Asian countries in their free trade agreements. He believes that the trade remedy system proposed for the Korea-Japan Free Trade Agreement, which modifies the World Trade Organization system, shows promise as a model for adapting the world trading system to East Asia. The modified system facilitates harmonization of regional trade rules that are compatible with global rulemaking. Takao Suami reviews the contributions of legal instruments in expanding regional economic integration through free trade agreements. Recent “positive changes in East Asian governments' awareness and reception of law and institutions” show promise for the legal approach. (p. xxii).

Part III, which includes chapters 10–14, presents a legal framework for future East Asian regionalism, including especially the Draft Charter of an East Asian Community. This document builds on recent collaborations among member nations and includes integral principles and fundamental rules for future cooperation in the region. Tamio Nakmura, in chapter 10, presents an excellent summary of the major issues to be addressed in establishing an institutional community that supports East Asian regionalism from a legal comparative perspective. He also discusses the principles underlying the proposed institution and outlines the goals and organization of the institution and its Draft Charter. In the following chapters, Takao Suami and Yoshiaki Sato discuss, respectively, the fourteen policy areas and the organizational structure proposed for the East Asian Community.

Nakamura, Suami, Usui, and Sato conclude this volume with the ultimate result of their painstaking research efforts—the Draft Charter of the East Asian Community, which represents the leading effort in laying the legal and institutional foundation for further cooperation among nations, both within and beyond the East Asia region. Overall, this volume is essential reading for scholars and graduate students specializing in East Asian studies, and a stimulating reference for policy makers and researchers who are interested in the continued growth of this region in the global economy.