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This paper will try to uncover the question of recent enthusiasm of Asian countries for regional co-operation as well as opportunities and challenges arising from this new wave of integration in the region.
Member rating: No Rating | Words: | Submitted: Fri Jan 28 2005
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In recent years, one of the most significant developments in the Asian economy has been the rapid growth of regional co-operation. Within a few years, a number of regional initiatives have been endorsed and various forms of co-operative ventures have been established. The results of these developments can be seen in the formation of the Asia-Pacific Economic Cooperation (APEC), the ASEAN Free Trade Area (AFTA) and the revival of the South Asian Association for Regional Cooperation (SAARC) as well as various innovative types of subregional co-operative ventures. This is in contrast to Asia's historical record on co-operation. For many years, the swiftness of regional co-operation was very slow compared with other regions of the world. The only exception is probably the Association of Southeast Asian Nations (ASEAN). However, the contribution of ASEAN has been primarily political rather economic. This paper will try to uncover the question of recent enthusiasm...
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