The speed of regional economic integration is expected to dominate leaders' discussions at the Asia-Pacific Economic Co-operation forum (Apec) in Canada next month.
The damage done as Asian economies succumbed to speculative attacks has triggered calls for a review and slowdown.
But globalisation - which refers to the growing economic interdependence of countries - is a process being swept along by a whirlwind of technological, market and economic factors.
Those who view the recent economic turmoil as a wake-up call for future reforms are likely to be in the majority.
The growing integration in the world economy is highlighted by trade and investment flows.
In the 22 years to 1993 the value of trade in goods and services more than doubled to 27 per cent of world gross domestic product.
