The main purposes of this paper are two-folds; one, suggesting the map of concepts to explain the contradictions of success and crisis of East Asian Development Model; two, pointing out crucial elements in the process of differentiation of East Asian Development Model by analyzing comparatively three cases of Japan, South Korea and Singapore. This paper pointed out that the state of Singapore, adopting a strategic of economic growth centering around Foreign Direct Investment, could maintain its superiority over the capital, while the states of Japan and Korea, adopting a strategic of economic growth centering around Domestic Big Business, lost its superiority over the capital. This paper concludes that whether the post-developmental state in the era of open economy will be a “Regulatory State” or a “Flexible Developmental State”, depends on whether the state has maintained its superiority over the capital or not.