This volume is the outgrowth of a conference held at Peking University in May 2002, jointly sponsored by the American Committee on Asian Economic Studies, the Peking University School of Economics, and the China Reform Forum. The contributors include leading scholars from Asia as well as specialists on Asia from the US, Europe, and Australia. The book delves into issues of trade and investment, exchange rates and macroeconomic policy, and preferential trade agreements and other forms of economic cooperation. The overall message is one of regional dynamism animated by concerted efforts to build a favorable institutional environment. China is a great motivating force in this dynamism and a key player in the development of regional agreements.