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This paper identifies the new economic force regenerating the East Asian economies in the post‐crisis era. Based on the convergence of five main economic indexes, it reclassifies the ten East Asian entities into four tiers, and highlights the language similarities among the tiers. It also discusses the inter‐ and intra‐regional economic dynamics, and the implications on further regional trade/investment, financial cooperation and monetary integration, such as a possible unifying Asian currency.