SUMMARY
Summary: This paper analyzes the benefits and risks of participation in the globalization process in light of the development experience of selected countries of East/South-East Asia (Indonesia, Malaysia, the Philippines, the Republic of Korea and Thailand). It is argued that isolationism is not the appropriate response to the perils of globalization; instead, efforts should be made to prevent the occurrence of any future crises or at least to moderate their adverse impact. In that context, the paper focuses on areas of international cooperation
