Mutual recognition arrangements can help ASEAN stop the brain drain, and remain globally competitive.
The Asia Pacific region is standing together to cooperate regionally to address the transnational threat posed by the COVID-19 pandemic.
Vice-President Stephen Groff gives an update from the Beijing launch of the PRC-led Belt and Road Initiative.
Any contemporary story on development in Asia-Pacific begins with reflection on massive gains achieved in the fight against poverty. The incidence of people living on less than $1.25 a day fell from 54.5% in 1990 to 20.7% in 2010, with the number of extreme poor declining from 1.48 billion to 733 million. This precipitous decline in poverty incidence has been accompanied by tremendous gains in access to health and education.
Asian success stories have broken down the old distinctions between rich countries and poor, developing and developing, development assistance providers and aid recipients.
As articulated by Cavoli, Rajan, and Siregar (2004) in their survey of East Asian financial integration, financial integration is a multidimensional process closely associated with development of financial markets.
Opening the region to foreign direct investment through trade multilateralization is ASEAN’s defining achievement as an organization.
Making it easier for workers to move between countries is key to liberalizing the trade in services and unleashing the benefits it will produce across national and regional economies.
Rail transport can help slash travel time, lower freight costs, and expand cross-border freight consignments across and beyond the region.
The ASEAN Economic Community, planned to come into effect in 2015, is expected to liberalize goods, capital and skilled labor flows in the ASEAN region. While there has been considerable progress in the area of trade integration, financial integration still lags behind. The ASEAN Banking Integration Framework, which aims to liberalize the banking market by 2020, could help pave the way for further integration and the entry of ASEAN banks into regional banking markets.