Achieving full and free movement of goods, capital, and people within the ASEAN Economic Community is a long process that must continue beyond 2015.
Multiple and overlapping initiatives in Asia also risk creating a “noodle bowl” phenomena more usually associated with free trade agreements, which bring high transactions costs for economies and business.
The reports provide a practical framework and regional visions for further harmonization of bond markets in the region, expected to reap huge rewards for borrowers and investors.
South Asia-Southeast Asia integration is no longer a pipe dream and with national and regional policy attention, it can become a reality.
The countries of Central Asia and the South Caucasus have seen a surge in growth and investor interest in recent years, but the region also faces formidable obstacles. A seminar looked at how closer cross-border ties can help overcome existing challenges, and take advantage of new opportunities.
Despite much progress so far, it seems likely that the December 2015 deadline for realizing all four pillars of the AEC will be missed. Rather than playing a blame game as to why the deadline will be missed, here's what should be done during Malaysia’s chairmanship of ASEAN in 2015.
Launched as a political bloc and security pact in the aftermath of the Viet Nam War, the Association of Southeast Asian Nations (ASEAN) has evolved to embrace an ambitious economic agenda. Its latest project is to establish the ASEAN Economic Community by 31 December 2015. But is this likely?
The recent formal pledging session for the Green Climate Fund (GCF)—more than $9 billion in just 5 months—is by far the most successful resource mobilization ever seen for a multilateral climate fund. The US has pledged $3 billion, followed by Japan ($1.5 billion), UK ($1.13 billion), and Germany and France (with $1 billion each). Four developing countries—Indonesia, Mexico, Mongolia, and Panama—have made pledges, breaking the traditional donor boundaries.
The offshore renminbi bond market has boomed since the People’s Republic of China (PRC) authorities first allowed domestic banks to issue them in Hong Kong, China in June 2007. But appetite for the paper—popularly known as “dim sum bonds”—is starting to wane as access to onshore markets becomes easier. To stay relevant, the dim sum market must develop further.
“The law hath not been dead, though it had slept.” When Shakespeare wrote those lines, he never knew that many, many years down the road, he may actually be referring to the enforcement of environmental law by the judiciary around the world.