East Asia's Economic Integration Accelerates, Boosting Regional Self-Sufficiency.
The idea that East Asia is becoming less dependent on other countries for its economic growth is not supported by evidence. Even though East Asia recovered quickly from the 2008 global financial crisis, it is still closely tied to the global economy. As incomes rise in the region and trade agreements are strengthened, East Asia will see more trade within the region. By controlling capital flows and improving financial systems, East Asia can better handle economic ups and downs. This will lead to closer economic integration among East Asian countries.