Abstract: The author attempts to determine why Asia (despite its economic success) is unable to capitalize on its successes. Author believes that no Asian century will emerge with deeply entrenched divisions on the continent, where the socio-political currents of the Korean peninsula are a powerful daily reminder that the creation of such a pan-Asian institution is an urgent must. Unsolved territorial issues, sporadic irredentism, conventional armament, nuclear ambitions, conflicts over exploitation of and access to the marine biota, other natural resources including fresh water access and supply are posing enormous stress on external security, safety and stability in Asia. Author affirms that what China needs in Asia is not a naval race of 1908, but the Helsinki process of 1975. In return, what Asia needs (from China and Japan) is an ASEAN-ization, not a Pakistanization of its continent. Author points out that ASEAN might be the gravity center of the consolidated diplomatic and socio-political action, and a place of attraction for many Asians in the decades to come.