<正>East Asia,influenced by the Asian Financial Crisis(AFC) of 1997-97 and the current financial tsunami starting from 2008,is undergoing fundamental changes in its regional governance and economic cooperation.The region’s inter-state cooperation and institutional building was long perceived as underdeveloped.But now a wide range of economic cooperation and community building initiatives have emerged,and they are profoundly transforming the dynamics of regional economic cooperation and institution-building in East Asia.These regional cooperation programs include,but not limited to:the ASEAN+3 process,the Chiang Mai Initiative,the East Asia Summit(EAS),the Asian Bond Market,and a series of bilateral and multilateral Free Trade Area(FTA) and Economic Partnership Agreements(EPA).Unlike prior attempts to construct a trans-Pacific regional architecture centered on APEC,these projects were driven by the shared sense of purpose among East Asian countries to construct a more Asian-oriented community and to serve the need of better East Asian regional governance.Also, unlike the regional production networks largely shaped by the Japanese economic power and corporate strategies from the 1970s to 1990s,the rapidly rise of the Chinese economic power has become a leading force to reshape regional governance and regional institutional building.To what extent does China influence other East Asian countries’ economic development,and how others have benefited from China’s growth? As the countries in East Asia have become increasingly interdependent,leaders in the region have become more determined to build a framework for greater regional cooperation and integration.What regional political-economic organizations would emerge in East Asia? How leaders in China think about future regional cooperation and regional governance in East Asia? This paper attempts to address these questions and shed light on the policy and academic debates about these issues.