SINGAPORE -- Chinese worldwide ushered in the Year of the Monkey on Jan. 22. The outgoing Year of the Goat had been excellent for China -- despite the outbreak of SARS last winter -- and a relatively good year for Southeast Asia.

More importantly, the new year will show the significance of the role that ethnic Chinese play in Southeast Asia as well as the region's blossoming relations with China, both of which are crucial for East Asian stability.

Chinese New Year is celebrated in various fashions in Southeast Asia. It has been traditionally celebrated as Tet in Vietnam (as the premier festival of the year as in China) and as the Lunar New Year, an official holiday in both Singapore and Malaysia. Since last year, Indonesians celebrate it as Imlek, a public holiday. In Thailand, Philippines, Myanmar and Cambodia, it is popularly celebrated by Chinese communities, although it is not a declared public holiday.