For now, Asia does not yet appear to be decoupling from the world economy.
Regional solutions within Asia, reinforced by boosting inter-regional trade and investment with Europe as an engine of global growth, can help counter the threats to globalization.
A tax on migrating workers compensates the exporting country for loss of the human capital created by its education and skills development programs.
Almost 1,500 years ago in the sixth and seventh century, southern Kazakhstan was part of the famous Silk Road that carried goods, ideas and cultural influences from as far as China to Europe.
The World Trade Organization’s Trade Facilitation Agreement provides a roadmap for developing economies to increase trade while also increasing the benefits it provides to their citizens.
The production processes and supply chains that feed into the production of masks, gloves and other personal protective equipment must be secured.
Just as past crises triggered international and regional financial cooperation, the pandemic offers an opportunity to collectively improve financial resilience and soundness.
The massive Regional Comprehensive Economic Partnership presents a major trade opportunity for Asia but there are still critical details that need to be worked out.
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.
Time will tell whether Asia-Pacific’s increasing trend toward regional integration extend further into labor markets.