Shaping and Sharing Pacific Dynamism

Abstract

This article attempts to elucidate the underlying considerations and calculations of one of the major actors of the Pacific region, Japan, in shaping and sharing the much vaunted Pacific dynamism. Keeping in mind the enormous economic vigor accompanied by a measure of uncertainty in Pacific international relations, the article attempts to analyze from a Japanese perspective the current configuration of ideas and practices unfolding in the region. First, the major features of Pacific dynamism are delineated. Second, the superpowers' preoccupation with domestic difficulties are touched on as one of the major triggering mechanisms encouraging more regionalist forces throughout the world. Third, Japanese calculations surrounding Pacific dynamism are delineated, with major counteractions to Pacific dynamism by other major actors also taken into account.

Trade, power and APEC: Hirschman revisited

“…Moreover, why could not a division of labor be worked out so that each country could pursue its comparative advantage (the Japanese in manufacturing, the Americans in services)? "Bigemony" is the central feature of this school (Inoguchi, 1989), as exemplified recently by Japan's contributions to stabilizing Asian currency markets against the volatility of the U.S. dollar (WuDunn, 1996). Tokyo's role increases but so do the safety and thus attractiveness of investment in U.S. government instruments.…”