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Economic Integration in Asia: Trends and Policies

In: Asia and the Global Economic Crisis

Author

Listed:
  • John Malcolm Dowling
  • Pradumna Bickram Rana

Abstract

While the dynamism of East Asia and the emergence of China and India as major players in the global economy are frequently discussed and debated in academic literature and popular press, much less attention has been placed on Asian economic integration and the rapid increase in Pan-Asian1 trade and investment.2 Unlike in Europe, this process is being led mainly by market forces (which enhance efficiency in production and augment dynamic gains through trade) with government-related regional cooperation policies also starting to play a role more recently. The rapid increase in Pan-Asian trade has made growth and development in Asia more dynamic and self-sustained. A regionally integrated but globally connected Asia is starting to emerge. As the experience with the ongoing global economic crisis has shown, Asia has not yet “de-coupled” completely from the OECD. Asian countries are, however, becoming more symmetric and business cycles are becoming more synchronized.

Suggested Citation

  • John Malcolm Dowling & Pradumna Bickram Rana, 2010. "Economic Integration in Asia: Trends and Policies," Palgrave Macmillan Books, in: Asia and the Global Economic Crisis, chapter 11, pages 213-229, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-30702-5_11
    DOI: 10.1057/9780230307025_11
    as

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