Leadership, decision-making and governance in the EU and East Asia: crisis and post-crisis

The global financial crisis of the late 2000s has affected the EU and East Asia differently. The EU has seen its economic, political and social structures undermined by the problems derived from the global crisis and subsequent eurozone sovereign debt crisis. In contrast, East Asia has gone through the global crisis relatively unscathed and has seen its standing at the global level reinforced. As a result, there has been a reconfiguration of leadership, decision-making and governance structures in both regions. In the case of the EU, Germany has emerged as the clear leader of European efforts to solve regional economic problems. Meanwhile, intergovernmentalism has replaced supranationalism as the decision-making and even implementation procedure of choice. Differently, there is no single leader in East Asia. China has become one of the most important powers at the global level, but at the regional level, different countries have shaped East Asia’s response to the crisis. Concurrently, there has been some move towards increasing integration, even though intergovernmentalism still defines governance structures in the region. Thus, the global financial crisis of the late 2000s has helped to shape new leadership, decision-making and governance structures in both regions.