Risk Management in East Asia

Book excerpt: This book is a joint endeavour of the three partner universities to develop a book with in-depth and state-of-art analysis for the academic community of East Asia and the world. Past disasters, like the 2008 Great Sichuan Earthquake in China and the 2011 Great East Japan Earthquake, saw good efforts of East Asian countries in helping each other. Such a trend has been further strengthened in these countries’ recent cooperation and mutual support in their fight against Covid-19 pandemic. While China, Japan, and South Korea are geographically and culturally contiguous and hence may share some characteristics in their risk management principles and practices, there may also be many significant differences due to their different socioeconomic and political systems. The commonalities and variances in East Asia risk management systems are also reflected by their recent responses to the Covid-19 challenges. While all three countries demonstrated overall success in controlling the epidemic, the measures taken by them were different. This research will be of interest to policymakers, scholars and economists.