Friday, December 31, 2010
East Asian Community-II
In 1990, former Prime Minister of Malaysia, Mahathir Mahamad, proposed an East Asian Economic Caucus, but the idea was dismissed by the United States. In 1997 when the Asian financial crisis hit, Japanese Finance Minister, Miyazawa Kiichi, pushed to create an Asian Monetary Fund, which was quashed by the United States again. In October 2009, when the global financial tsunami instigated by the Wall Street is still bring down the global economy, the Obama Administration has little credibility to persuade anyone not join the East Asian Community when the Japanese Prime Minister, Hatoyama Yukio, made a proposal during the ASEAN (Association of South East Asian Nations) meeting in Thailand. The only problem is that Hatoyama’s proposal of the East Asian Community covers Japan, China, South Korea, ASEAN, Australia, New Zealand, and India. But, the traditional geographical knowledge of the “East Asian” Community does not cover Australia, New Zealand, and India.