International and Regional Cooperation : Asia's Role and Responsibilities
Asia has emerged from the global financial crisis as an important stabilizing force and engine of global economic growth. The establishment of the G20 gives Asian economies the global forum that they have needed to both represent their interests in global governance and to deliver on responsibilities concomitant with their growing weight in the global economy. The region has a host of cooperation arrangements in APEC, ASEAN+3 and EAS, all with ASEAN as the fulcrum. They are huge assets but they need to be re-positioned to relate effectively to the G20 process and other global arrangements. They also need to comprehend the politics of the changing structure of regional power. This paper discusses the challenges that Asia faces in aligning regional and global objectives in financial, trade and other areas of cooperation, such as on climate change and on foreign investment. It argues that Asia is now a critical player in the global system and has a central contribution to make in strengthening global governance and international policy outcomes. Currently, there is a disconnect between the regional cooperation and the global agenda. The paper sets out ways to address this problem through filling gaps in regional cooperation and linking the agenda for regional cooperation more effectively to Asia's new role globally. That is essential to sustain Asia's superior growth performance, correct imbalances and support the global economic system.
|Date of creation:||Jan 2010|
|Date of revision:|
|Contact details of provider:|| Postal: JG Crawford Building #13, Asia Pacific School of Economics and Government, Australian National University, ACT 0200|
Web page: http://www.eaber.org
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- C. Randall Henning, 2009. "The Future of the Chiang Mai Initiative: An Asian Monetary Fund?," Policy Briefs PB09-5, Peterson Institute for International Economics.
- Baldwin, Richard, 2006.
"Managing the Noodle Bowl: The Fragility of East Asian Regionalism,"
CEPR Discussion Papers
5561, C.E.P.R. Discussion Papers.
- Richard E. Baldwin, 2008. "Managing The Noodle Bowl: The Fragility Of East Asian Regionalism," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 53(03), pages 449-478.
- Baldwin, Richard E., 2007. "Managing the Noodle Bowl: The Fragility of East Asian Regionalism," Working Papers on Regional Economic Integration 7, Asian Development Bank.
- Philippa Dee, 2005.
"East Asian Economic Integration and its Impact on Future Growth,"
Development Economics Working Papers
21988, East Asian Bureau of Economic Research.
- Philippa Dee, 2007. "East Asian Economic Integration and its Impact on Future Growth," The World Economy, Wiley Blackwell, vol. 30(3), pages 405-423, 03.
- Philippa Dee, 2005. "East Asian Economic Integration and its Impact on Future Growth," Asia Pacific Economic Papers 350, Australia-Japan Research Centre, Crawford School of Public Policy, The Australian National University.
- Peter Drysdale & SÃ©bastien Willis, 2013. "Asia and The G20," EABER Working Papers 23384, East Asian Bureau of Economic Research.
- L. Alan Winters & Shahid Yusuf, 2007. "Dancing with the Giants: China, India, and the Global Economy," World Bank Publications, The World Bank, number 6632.
When requesting a correction, please mention this item's handle: RePEc:eab:wpaper:22763. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Shiro Armstrong)
If references are entirely missing, you can add them using this form.