The East Asian Community has been propagated as the new harbinger of comprehensive security processes. The idea of an East Asian Community got an impetus with the December 2003 Tokyo Declaration between Japan and ASEAN. Although East Asia has witnessed sufficient degrees of ‘regionalization’, ‘regionalism’ still has a long way to go. The former refers to those processes, which come from markets and private investment flows while the latter emerges as a result of intergovernmental dialogues and treaties.