As they look over the Asia-Pacific region, U.S. policy makers have much to be proud of and much to worry about. On the one hand, the U.S.-centered “San Francisco system” put into place in the wake of the Second World War has been a great success, fostering economic and institutional growth across the region, dispelling the last legacies of European colonialism in the region and encouraging a neoliberal approach to institution-building. While enlightened elites and cultural attitudes certainly played their part, U.S. trade and security guarantees allowed many states to focus exclusively on economic growth with superb results.
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