In this article, we provide an overview of the two-year project on the "Development and Crises in East Asia" focusing upon four aspects: economic growth, financial crises, political responses to overcome the crises, and the processes of regional integration. The project aimed to analyse these phenomena in a wider regional and global context criticizing the North-East-Asian centric perspective. The conclusion will be summarized as follows: (1) The economic crises prompted the transformation of old developmental regime of each country toward a more open and liberal model. Most of the countries in the region accepted the new regime with or without resistance. (2) The new regime seeks an orientation more global and market-dominated, giving up the old nationalistic and state-interventionist one. (3) China and Japan took the reform measures step by step, otherwise the South East Asian countries accepted the radical reform measures in a quite short time range. (4) China took piecemeal reforms to keep going the growth rally and to contain social and political unrests, but Japan had reform measures to cure the Japanese malaise prescribed by the political and economic forces. (5) The regional cooperation in East Asia would grow up much bigger by multi-lateral and multi-layered channels.