A. PERIOD OF PEACE AFTER THE COLD WAR
Stabilizing Factors：
After the cold war, unlike Eastern Europe that fell into political and economic disarray, the Asia-Pacific Region was able to enjoy a period of relative peace, security and prosperity. Some of the stabilizing factors include：
1. Economic Reform and Market Economy
The end of the Cold War made it possible for East and Southeast Asian countries to turn their focus to the more important task of nation building. Almost all countries, including the communist regimes of China and Vietnam, turned their efforts to economic development and reform. In various degrees, they adopted the market and export-oriented economy. This demanded a peaceful environment and promoted interdependency among states.
With the influx of foreign investment, much of it was from Japan, most countries were able to achieve continuous economic growth higher than countries in any other region and ahead of population growth. The visible improvement of overall economy, especially in the initial period, eased much of the social and political conflicts (such as those arising from ethnic, religious and ideological differences) long existed in the various societies.
After the Cold War, there was a general de-emphasis of ideology. In order to attract international investment, countries have to strengthen their law and order. They need to follow the role of law and internationally acceptable practices.
2. Stabilizing Role of the U.S.
Although the United States lost general will to continue to be engaged in the region at the end of the Vietnam War, it stopped short of a complete withdrawal. While it lost some of its major military bases in the region, such as Da Nang in South Vietnam and Subic in the Philippines, it continued to station troops in the Korean Peninsula and Japan and maintained security pacts with these two countries and Australia. It also renegotiated the use of some of the bases in the region.
