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Towards a Broader Asian Community : Agenda for the East Asia Summit

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  • Nagesh Kumar

    (RIS)

Abstract

Drawing upon the recent work conducted at RIS and other thinktanks, this paper finds a compelling case for broader regional economic integration in Asia. It finds a case for formation of a broader economic community in East Asia coalescing the emerging web of FTAs linking Japan, ASEAN, China, India and Korea into a region-wide or an East Asian RTA that could be a core of an East Asian Community. The East Asian Community could be eventually expanded to cover other Asian countries in an Asian Economic Community. It has been shown that economic integration in East Asia or JACIK could enable the region to resume its rapid growth and help it emerge as the center of gravity in the world economy. The simulations made suggest that such a grouping would enhance welfare of the partners as well of the rest of the world, hence would be a win-win for the world economy. It also discusses the potential of cooperation in other areas such as monetary and financial system, energy security, new technologies, global governance and security. It is concluded with an agenda for the East Asia Summit.

Suggested Citation

  • Nagesh Kumar, 2005. "Towards a Broader Asian Community : Agenda for the East Asia Summit," Macroeconomics Working Papers 22107, East Asian Bureau of Economic Research.
  • Handle: RePEc:eab:macroe:22107
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    File URL: http://www.eaber.org/node/22107
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    References listed on IDEAS

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    1. Nagesh Kumar & K.J. Joseph, 2006. "National Innovation Systems and India’s IT Capability: Are There Any Lessons for ASEAN Newcomers?," Chapters,in: Asia’s Innovation Systems in Transition, chapter 10 Edward Elgar Publishing.
    2. Tiziana Bonapace, 2005. "Regional Trade and Investment Architecture in Asia-Pacific : Emerging Trends and Imperatives," Trade Working Papers 22085, East Asian Bureau of Economic Research.
    3. Pradhan, Jaya Prakash, 2003. "Rise of service sector outward foreign direct investment from Indian economy: trends, patterns, and determinants," MPRA Paper 17078, University Library of Munich, Germany.
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    Cited by:

    1. S.K. Mohanty & Sanjib Pohit, 2007. "Welfare Gains from Regional Economic Integration in Asia : ASEAN+3 or EAS," Macroeconomics Working Papers 22121, East Asian Bureau of Economic Research.
    2. Ramkishen S. Rajan, 2006. "Monetary and Financial Cooperation in Asia : Emerging Trends and Prospects," Finance Working Papers 22125, East Asian Bureau of Economic Research.
    3. Kaplinsky, Raphael & Messner, Dirk, 2008. "Introduction: The Impact of Asian Drivers on the Developing World," World Development, Elsevier, vol. 36(2), pages 197-209, February.

    More about this item

    Keywords

    East Asia Summit; global governance; monetary and financial system; energy security; new technologies; security;

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F47 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Forecasting and Simulation: Models and Applications

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