EU- East Asia Relations: Effects of the Global Financial and Eurozone Debt Crises

Abstract

Relations between the EU and East Asia have evolved as a result of the global financial and Eurozone debt crises. Throughout the 1990s, economic, political and security relations were dominated by the EU. As an increasing number of East Asian countries became more economically successful and diplomatically assertive throughout the 1990s, EU-East Asian relations became more balanced. With the onset of the global financial crisis, balanced relations fostered cooperation, while a degree of satisfaction spread over East Asia, one of the regions less affected by the crisis. The Eurozone debt crisis has accentuated both developments. Today, cooperation in economics, politics and security dominate EU-East Asian relations. Many leaders in East Asia seek to help their European counterparts while pointing out the superior performance of their domestic economies

Keywords

• European Union, East Asia, crisis, Cold War, 9/11, Global Financial Crisis, Eurozone Sovereign Debt Crisis.

References

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