Keynote Speech 1 and Discussion - Win-win Situation for Korea, China and Japan The Great Earthquake of Japan last March has taught huge lessons to East Asia. Korea and China’s offering of ‘warm hands’ to Japan was a chance for them to resolve the historic hostility toward each other. Natural disasters and the horror of radiation leakage confirmed the fact that Korea, China and Japan are meant to be a community not only politically and economically but also environmentally. How should East Asia cooperate from now on? That was the most important question that was imposed on the Asia Future Forum that opened on the 15th. Jitsuro Terashima , the Chairperson at Japan Research Institute, gave a keynote speech under the topic ‘Asia’s Future after the Great Earthquake in Eastern Japan’. In it, he explained the changes being made in Japan and how they are spreading to other regions. He added, “For our future generations, we need to open a new path called ‘East Asian connection’.” Terashima Jitsuro is a representative critique of Japan who drew the blueprint for ‘East Asian Community Theory’. He holds a dual position as the dean of Tama University and the president of the strategy research institute of Mitsui Inc. He reported that Japan is suffering from three different sources of pain: earthquake, tsunami and nuclear power. In particular, the horror of radiation leakage has spread to the entire Asian region. Korea and China also can encounter nuclear crisis any time. Japan feels additional pressures from the high exchange rate of yen, the low birth rate and the aging population. However, he pointed it out that, “It is problematic that Japan is not paying much attention to the relationships with Asian countries cause of the pressure from its internal issues. In other words, Japan is failing to recognize the shift in paradigm that is already happening internally. He said, “Asia will account for half of the world’s GDP by 2030. Korea, China and Japan have strong manufacturing and technology industries unlike the U.S. Therefore, they have the power to take the leader’s role in world’s real economy. Then, can East Asian Community really be established? Projections diverged. Terashima projected, “Asia yet lacks of footholds like EU. Everyone agrees that Asia needs to collaborate economically and exchange information on energy for its mutual prosperity.” In the following discussion, Kim Young-ho, a chair-professor at Dan-kook University, said, “Asia is about to come out of the tunnel of Westernization after 100 years of running in it. However, it seems to me that the concept of ‘Asia without Asia’ has been more emphasized than ever.” According to him, Japan has decided to join Trans-Pacific Strategic Economic Partnership (TPP), showing an anti-Asia attitude while China is showing imperialistic attitude, promoting the revival of sino-centricism. Martin Jacques, an exchange professor at Tsinghua University, said, “Since the gap between Korea, China and Japan are so wide, integrating their economies would be very challenging. Without resolving the trauma from the past, it would be difficult to create a true East Asian Community. Nonetheless, the discussion panels agreed that East Asian Community has taken its baby steps toward the establishment. The regional trades account for 55% of the Asia’s trade market and Asia has become a one-day life zone. Patrick Smith, the author of ‘Japan: A Reinterpretation’ and a journalist, commented, “Asia already doesn’t approve of U.S. hegemony and is trying to establish a new order. In order to avoid crisis like that of the euro zone, we need to clarify the values and goals of East Asian community.”