ASEM and the "Cinderella complex" of EU-East Asia economic relations

Within the family of Triad power-regions (North America, Europe, East Asia) , the Eurasian economic axis persists as the poor third relation in compari son to its transatlantic and transpacific counterparts. This study examines the nature of the "Cinderella complex" that besets EU-East. Asia economic relations and the structural constraints within the Triadic political econo my that impede its resolution. It more specifically considers what role can be played by the Asia-Europe Meetings (ASEM) inter-regional framework in f ortifying the Eurasian economic relationship. Moreover, the capacity of ASE M to develop its geo-strategic and multilateral utility is a core theme of this article. It is proposed that at the millennial, ASEM has missed variou s opportunities both to enhance its salience and to take bolder initiatives in the Eurasian co-management of the post-hegemonic world order. Such pass ivity was most clearly revealed in ASEM's handling of the 1997-98 East Asia n financial crisis. Thus, as it currently stands, ASEM possesses limited ca pacity to significantly redress the structural imbalances in the Triadic po litical economy a far more substantive ASEM agenda is required to fulfil it s potential geo-strategic and multilateral utility. This study notes that p roposals carried in the first report of the recently established ASEM Visio n Group would make a significant initial contribution towards this end.