The U.S. financial crisis has spread around the globe. Financial globalization means that most countries and regions are not immune to the contagious effects of a financial crisis that originates in one country.

East Asian countries had already experienced the contagious effects of a financial crisis in 1997. That year, a financial crisis that broke out in Thailand and Indonesia reached Malaysia and then South Korea. Each of these countries reacted differently to the crisis. South Korea, Indonesia, and Thailand accepted International Monetary Fund (IMF) conditionalities that required neoliberal economic restructuring in return for emergency loans, while Malaysia rejected the IMF offer and instead encouraged the inflow of speculative financial capital, while reforming the banking and financial system. In the aftermath of the East Asian financial crisis, regional economic, financial and security cooperation were discussed among East Asian countries. These efforts resulted in the Chiang Mai Initiative, the Bond Initiative, the East Asian Summit, the Shanghai Cooperation Organization, and the Six Party Talks.

Thus, regionalism in East Asia was revived in response to external shocks, such as global financial volatility, endogenous opportunities such as East Asian market compatibility (Pempel, 2008), endogenous security threats such as the North Korean nuclear development, and exogenous opportunities such as "bringing in the U.S." (Pempel, 2008).

Nonetheless, East Asian regionalism is still at a low level of institutionalization compared to Europe. East Asian regionalism is still basically "bottom-up, corporate (market)-driven regionalism" (Pempel, 2005). 

I will discuss the obstacles and the opportunities that Northeast Asian countries are facing since the end of the Cold War and the advent of globalization.

Hyug Baeg Im is Professor at the Department of Political Science and International Relations, Korea University, Seoul, South Korea. He is Dean at the Graduate School of Policy Studies and Director at Institute for Peace Studies. He received B.A. in political science from Seoul National University, M.A. and Ph.D. in political science from the University of Chicago. He was visiting professor at Georgetown University (1995-1996), Duke University (1997), Stanford University (2002-2003) and visiting fellow at International Forum for Democratic Studies, National Endowment for Democracy, Washington DC (1995-1996). He served as a presidential adviser of both Kim Dae Jung and Roh Moo Hyun presidency. His current research focuses on the impact of IT revolution and globalization on Korean democracy. His publications include “The Rise of Bureaucratic Authoritarianism in South Korea,” World Politics, Vol. 34, No. 2 (1987), “South Korean Democratic Consolidation in Comparative Perspective” in Consolidating Democracy in South Korea (Lynne Rienner, 2000) and “’Crony Capitalism’ in South Korea, Thailand, and Taiwan: Myth and Reality,” (co-authored with Kim, Byung Kook) Journal of East Asian Studies, Vol. 1, No. 1 (2001), “Faltering Democratic Consolidation in South Korea: Democracy at the End of Three Kims Era” Democratization, Vol. 11, No. 5(2004), “Christian Churches and Democratization in South Korea” in Tun-jen Cheng and Deborah A. Brown (eds.), Religious Organizations and Democratization: Comparative Case Studies in Contemporary Asia (M.E. Sharpe, 2006) and “The US Role in Korean Democracy and Security since Cold War Era,” International Relations of the Asia Pacific, Vol. 6, No.2 (2006).

Peter Henry's research on emerging markets provides fundamental insights about the impact of economic reform on the lives of people in developing countries. It uses theory and data to grapple objectively with some of the most important and contentious economic questions of our time: Does debt relief help or hurt poor countries? Should emerging nations permit capital to flow freely in and out of their economies? Is it possible to reduce inflation without undermining economic growth? Peter's answers to these questions appear in the leading academic journals and have led him to testify before the U.S. Congress and various United Nations Ambassadors.

Peter is Konosuke Matsushita Professor of International Economics, the John and Cynthia Fry Gunn Faculty Scholar, and Associate Director of the Center for Global Business and the Economy at the Stanford University Graduate School of Business. He is also a Senior Fellow of the Stanford Institute for Economic Policy Research, a Research Associate at the National Bureau of Economic Research, a Nonresident Senior Fellow of the Brookings Institution, and a member of the Council on Foreign Relations. From 2000-2001 he was a National Fellow at the Hoover Institution. The National Science Foundation's Early CAREER Development Program supported his research and teaching from 2001-2006. In 2004 Peter participated in the Copenhagen Consensus, an international conference on how to make the most efficient use of the world's scarcest resources. The Economist magazine named the published proceedings of the conference one of the best business books of 2004.

Peter received his PhD in economics from the Massachusetts Institute of Technology in 1997. While in graduate school, he served as a consultant to the Governors of the Bank of Jamaica and the Eastern Caribbean Central Bank (ECCB). His research at the ECCB contributed to the intellectual foundation for establishing the first stock market in the Eastern Caribbean Currency Area.

Prior to attending MIT, Peter was a Rhodes Scholar at Oxford University where he received a BA in mathematics and a Full Blue in basketball. He also holds a BA in economics from The University of North Carolina at Chapel Hill where he was a Morehead Scholar, a National Merit Scholar, a member of Phi Beta Kappa, a Marshall Scholar-Elect, a reserve wide receiver on the varsity football team, and a finalist in the 1991 campus-wide slam-dunk competition.

Born in Jamaica, Peter became a U.S. citizen in 1986. His wife of 12 years, Lisa J. Nelson, received her BA and MD from Yale University. She is a child psychiatrist and was a Glaxo Welcome Fellow of the American Psychiatric Association from 1995 to 1997. They have four sons: Christian Blair, Langston Alexander, Hayden Montgomery, and Harrison Elbert.

Manana Aslamazyan, a media and television expert who has worked with Russian journalists for more than 15 years, is Executive Director of Internews Europe based in Paris.

Aslamazyan and Alexei K. Simonov launched Russia's first freedom of speech organization in 1991, the Glasnost Defense Foundation (GDF). In 1992, Aslamazyan began to work with Internews Network to organize events for newly formed independent TV stations around the former Soviet Union. She became its first foreign staff person and by 1994, was managing the Russian operation, which in 1997 registered as a fully independent Russian non-commercial organization. In 2006, in response to changing legislation and its increased focus on training, Internews Russia re-organized as the Educated Media Foundation (EMF).

As director, Aslamazyan led Internews Russia/EMF in the creation of numerous innovative and ambitious projects. Aslamazyan's constant drive to respond to the changing needs of Russian media led to the launch of Internews Russia/EMF's month-long Journalism School, the News Factory newsroom automation project, and the Russian-American Media Entrepreneurship Dialogue. Internews Russia/EMF was forced to shut down in 2007 following a raid on its Moscow headquarters and filing of criminal charges against EMF and Aslamazyan that were widely seen as politically motivated. In 2008, the Constitutional Court of Russia ruled that the charges against Aslamayan had no legal basis.

Aslamazyan has served as an expert to the Russian Duma Committee on Information Policy, and from 2000 to 2004, she was one of three representatives of civil society on the influential Federal Competition Commission of Ministry of Press, TV Broadcasting and Mass Media. She is a board member of the prestigious Academy of Russian Television and served for three years as a Vice-President of the National Association of TV and Radio Broadcasters (NAT).

Aslamazyan serves on the boards of several Russian nonprofit organizations, Internews Network, and Internews International, which unites local Internews organizations around the world.

Co-sponsored by CREES and Internews Network

Pascal Lamy has served as Director-General of the World Trade Organization since September 2005.

Previously, he was the Trade Commissioner of the European Union in Brussels from 1999 to 2004.

From 1994 until 1999, he served as Director-General of the team responsible for restructuring the Credit Lyonnaise.

The beginnings of Mr. Lamy’s career are marked by time spent in civil service at the French Finance Ministry, the Inspection Générale des Finances, and the Treasury Department.

He later became adviser to Economics and Finance Minister, Jacques Delors, and to Prime Minister Pierre Mauroy. From 1984 to 1994, Mr. Lamy worked in Brussels as chief of staff to Commission President, Jacques Delors.

A member of the French Socialist Party, Mr. Lamy is also politically active in the Mouvement Europeen. In 1999, he was the recipient of the Officier de la Legion d’Honneur and has been honored with several international orders of merit.

THIS EVENT IS CO-SPONSORED BY ICA

The FSI Program on Global Justice and the Iranian Studies Program present A Forum on Akbar Ganji's Road to Democracy in Iran.

Ganji is an Iranian journalist and dissident who was imprisoned in Tehran from 2000 to 2006 and whose writings are currently banned in Iran. He has won numerous prestigious awards in Europe and North America. His 56-day hunger strike turned him into a figure of international fame, with many heads of states and hundreds of the world's most renowned public intellectuals demanding his safety and freedom. Ganji first gained prominence in Iran as an investigative journalist when he helped uncover a government conspiracy to murder Iranian intellectuals. In response, the regime put him in prison for six years. Behind bars, Ganji continued to write and produced his famous Republican Manifesto where he argued in favor of a secular liberal democracy for Iran. In April 2008, Ganji's first English language  book appeared from Boston Review Books/MIT Press: The Road to Democracy in Iran, with an introduction by Joshua Cohen and Abbas Milani. 

Ganji will speak in Farsi with consecutive translation in English, and will be joined on the panel by Abbas Milani, director of the Hamid & Christina Moghadam Program in Iranian Studies at Stanford University, and Martha Nussbaum, Ernst Freud Distinguished Service Professor of Law and Ethics at the University of Chicago. Program on Global Justice Director Joshua Cohen will moderate the discussion.