On the basis of a first-rate survey of the economic relations among the Pacific basin countries and their place in the world, Drysdale of the Australian National University ably argues that what these countries need is more cooperation and consultation without more formal apparatus (and not a free-trade area). They have a strong interest in using their regionalism to further an open multilateral global economy but also have problems of their own, such as reshaping Japanese and American leadership and fitting China into the group.