Emergence of China as an Economic Power

While in the long run south-east Asia will benefit from a prosperous and economically strong and stable large neighbour, the issues tend to be more complex in the short and medium terms. South-east Asian countries have hitherto been able to adjust to China's initial opening up between 1990 and 1997 fairly successfully. However, the crisis of confidence following the regional crisis of 1997-98 and loss of forward momentum with regard to regional integration among ASEAN members and a feeling of vulnerability to an increasingly volatile global economy are some of the reasons for heightened concerns about the economic ascendancy of China.