This book integrates three levels of politicaleconomic analysis: first a comparative institutional analysis of the varieties of capitalism in both Europe and Asia, second a macroeconomic analysis of industrial structural change and economic dynamics of the national economies in Europe and Asia, and then an encompassing analysis of international production linkages and international financial instability which determine the long-term patterns of regional integration in Europe and Asia. The comparison of the European Union and ASEAN delivers some key conditions for a viable long-term regional economic integration to cope with contrasted capitalisms and growth regimes: either pragmatism in the choice of an exchange rate regime, or a form of fiscal federalism. The reader will also find a genuine analysis of the dynamism of the Chinese economy, a study on institutional changes and de-industrialization in Japan, and the increasing international production linkages among China, Japan, Korea,and ASEAN. It is shown how the enlargement of the European Union and the Euro triggered the diverging competitiveness and macroeconomic performances that led to the crisis of a six decades long economic and political process. This book is the result of long lasting AsianEuropean collaborative research. It is a milestone in the historical and comparative analysis along the régulation theory that aims at understanding the long-run transformations, renewed diversity and interdependence of capitalisms.

Robert Boyer is a French economist trained at Ecole Polytechnique, Sciences-Po Paris and Université Paris 1 Panthéon Sorbonne. He was a senior researcher at CNRS and a professor at EHESS, and is now a fellow at Institut des Amériques, Paris. He has developed an historical and comparative analysis of the transformations of capitalisms, under the label of the régulation theory. His publications include R. Boyer and Y. Saillard,Régulation Theory; the State of the Art, Routledge, 2001; R. Boyer,The Future of Economic Growth, Edward Elgar, 2004; R. Boyer,Les financiers détruiront-ils le capitalisme? Economica, 2011 ; R. Boyer,Economie politique des capitalismes, La Découverte, 2015. He is also an editors ofRevue de la Régulation.

Hiroyasu Uemura is a professor of economics at Yokohama National University in Japan. He published books and articles widely in the field of comparative institutional analysis and macroeconomic analysisfrom the perspective of therégulation theory. These include R. Boyer, H. Uemura and A. Isogai (eds.)Diversity and Transformation of Asian Capitalisms, Routledge, 2012.

Toshio Yamada is an emeritus professor at Nagoya University in Japan. He is a main contributor to therégulation theory in Japan. He has published books and articles on economic theories, Japanese capitalism, and varieties of capitalism in the world. These include R. Boyer and T. Yamada (eds.)Japanese Capitalism in Crisis: A Regulationist Interpretation, Routledge, 2000, and T. Yamada,Contemporary Capitalism and Civil Society: The Japanese Experience, Springer, 2018.

Lei Song is a professor of comparative political economy at Peking University in China. His research interests range from the diversity of capitalisms to the business-government relations. He is working on book-length projects about the political economy of Chinas mode of production and policy transfer between China and the Western countries.

Introduction. Part I  Evolving diversity of capitalisms and the European integration.- 1 European integration: theories and history.- 2 The Euro crisis in the unstable world economy.- 3 Great divergence and interdependence of European economies.- 4 EU governance and the future of Europe.  Part II  Evolving diversity of Asian capitalism.- 5 Transformation of Japanese capitalism.- 6 Growing China as a great economic power.- 7 International production linkages and global value chains in Asian.- 8 Possible Asian monetary integration.  Part III  Comparative analysis of EU and Asia in the transforming world economy.- 9 EU and Asia in the varieties of capitalism.- 10 Comparative analysis of economic interdependence between EU and Asia.- 11 Comparative historical analysis of regional integration in EU and Asia.- 12 EU and Asia in the transforming world economic system.  Conclusion.