Raimo Väyrynen, in Regionalisms. Implications for Global Development, ed. Bjýrn Hettne, Andrs Inotai & Osvaldo Sunkel (London & New York: Palgrave 2001, 132-86).

Väyrynen explores the impact of the changing international political and economic system on regional integration in East Asia and Central Europe. Rather than have a zero-sum relationship, globalization and regionalization of economic activities have progressed in tandem. In Europe, regionalism is much more organized than in East Asia and, therefore, the decline of the great-power hegemony, especially the Soviet/Russian influence, has permitted the spread of integration to Central Europe. The absence of effective hegemony has prompted the East Asian countries to explore new ties, but they have remained much more informal and are still challenged by political suspicions. However, over the long term, the functional, networked nature of the East Asian regionalism may turn out to be economically more effective than the institutional and often protectionist integration strategies prevalent in Europe.

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