Abstract
Northeast Asia presents a major theoretical puzzle: the region is rife with security challenges and seems continually poised for horrific military conflicts. Yet, despite many structural tensions, the region has been devoid of significant shooting wars since the signing of the Korean armistice in 1953. This essay examines two major contributions to that pacific condition: first, the pervasive focus on economic development and the growing economic links across the region; and second, the growing number of multilateral institutions within the Asia-Pacific. It concludes that while a ‘Pax Americana’ was important to peace in the past, the long-term prospects are for the continued absence of overt conflict but in ways that will reflect an overall decline in America’s capacity to shape regional developments.