The article discusses the costs and benefits of economic integration in Asia, especially in the context of global financial crises. It looks at how trade barriers, cross-border asset holdings, and foreign direct investment have changed over time in Asian economies. The researchers focus on developments since the early 1990s, including the impact of the 1997/98 Asian financial crisis. The findings suggest that increases in trade and financial protectionism could pose threats to Asian economies heavily reliant on external demand for growth.