The past decade has been characterised by tremendous change in Asia in general and in East Asia in particular. Probably no other phase since World War II has seen so many fundamental transformations in the region: the decline of Japan as the most dynamic economy in the region; the emergence of China as a leader and an economic centre of gravity; and the unforeseen Asian crisis, with its severe impact on both the economic and the political systems in the region. In recent years, a tendency towards closer economic integration in East Asia and an increasing unwillingness of Asian leaders to follow the leadership of the US has been observed. What is the relationship of these developments? Is East Asian regionalism being driven by anti-Americanism or are other forces at work?