The COVID-19 pandemic, the U.S.–China trade conflict, tariff disputes, and rising geopolitical tensions have accelerated deglobalization, bringing about structural changes in the East Asian economic order. While economic cooperation in East Asia has long been built around trade and production networks, the reconfiguration of global supply chains and growing uncertainty in the trade environment have exposed clear limitations to a trade-centered cooperation model.
This session examines these limitations and possible alternatives, while placing greater emphasis on the role of financial globalization and financial cooperation in East Asia, which has been gaining increasing importance. Based on these discussions, the session aims to draw policy implications for sustainable growth and shared prosperity in East Asia, including Korea.