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Economics, Governance and public sector management, Regional cooperation and integration

Tackling the challenge of growing inequality in Asia

Tackling the challenge of growing inequality in Asia
Income inequality is one of the most profound social, economic, and political challenges of our time. A survey conducted by Pew Research Center (2014) found that more than 60% of worldwide respondents regard the gap between the rich and the poor as a major concern. Piketty (2014) draws the unequivocal conclusion that growing inequality between the rich and the poor—between the owners of capital and the rest of society—is the normal state of affairs under capitalism, and that periods of decreasing inequality, such as during a post-war boom, are the exception, not the rule.

Economics, Regional cooperation and integration

Greater partnerships for the effective management of labor migration in Asia

Greater partnerships for the effective management of labor migration in Asia
The pace and size of labor migration have been on the rise in past decades, largely due to the different stages of economic development across Asia. Labor migration flows from Asia peaked in 2015 and dropped in the following 2 years, falling to 5.2 million in 2017, the lowest level since 2011.

Agriculture and natural resources, Infrastructure, Regional cooperation and integration

Perspectives on Mekong-Japan cooperation for inclusive growth and mutual benefits

Perspectives on Mekong-Japan cooperation for inclusive growth and mutual benefits
Rapid economic development in recent decades has transformed Southeast Asia and prepared the region to join international production networks, which allow greater exports of manufacturing products, textiles, and other primary high-quality valued added products to the international market. This economic development has been achieved thanks to investments from around the globe into the region as a result of a favorable labor force, connectivity and innovation growth, and regional political stability as driven by the Association of Southeast Asian Nations (ASEAN) vision.

Economics, Governance and public sector management, Industry and trade, Regional cooperation and integration

Impact of Retaliatory Trade Enforcement Actions on the World Trade Organization and Trade Governance

Impact of Retaliatory Trade Enforcement Actions on the World Trade Organization and Trade Governance
The international regulatory instruments in international trade boast a remarkable story of evolving sophistication. Their transformation from voluntary export restraint agreements showed that the world trade system was poised to keep pace with rapidly expanding trade ties and diversifying supply chains. To keep the reins on an increasingly dynamic global trade system, the General Agreement on Tariffs and Trade (GATT) sought to formalize instruments that would help keep trade balanced and fair by isolating international trade from government intervention, in alignment with the economic thinking of the period: neoliberal convergence.

Finance sector development, Industry and trade, Infrastructure, Regional cooperation and integration

Next generation of quality development and investment in the new Pacific trade pact

Next generation of quality development and investment in the new Pacific trade pact
Earlier this month, the Pacific trade pact was reborn in Santiago as the 11-nation Comprehensive and Progressive Agreement for Trans-Pacific Partnership. While the headlines have been dominated by the absence of the United States and the level of trade gains each nation hopes to enjoy, let’s focus here on three less-remarked-upon sections of this revised treaty among Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Viet Nam (the TPP11).

Industry and trade, Infrastructure, Regional cooperation and integration

One Belt One Road and the Risks Behind the Win-Win Situation

One Belt One Road and the Risks Behind the Win-Win Situation
The New Silk Road Initiative was originally unveiled by Chinese President Xi Jinping in 2013 and became known as the Belt and Road Initiative (BRI). From the beginning, the initiative was presented as a reestablishment of the trade routes that were successful many centuries ago. The initiative was also a call for partner countries to accelerate transport infrastructure improvements and connectivity to boost trade. Through active diplomacy and intense public relations, 65 countries felt they had to join the initiative with the prospect of Chinese financial assistance.

Economics, Industry and trade, Regional cooperation and integration

Time for SMEs in CAREC to move beyond borders

Time for SMEs in CAREC to move beyond borders
One of the most daunting challenges for the countries participating in the Central Asia Regional Economic Cooperation (CAREC) program is how to create decent, sustainable jobs. For far too long, many CAREC countries have relied on the capital-intensive extractives sector to drive their economic growth. However, the slowing down of the global economic growth and reduced commodity prices resulted in the substantial increase in unemployment, especially among the youth.

Economics, Environment, Finance sector development, Governance and public sector management, Industry and trade, Infrastructure, Regional cooperation and integration, Urban development

The PRC’s international capacity cooperation exports both industrial capacity and financial risk

The PRC’s international capacity cooperation exports both industrial capacity and financial risk
International capacity cooperation (国际产能合作guoji channeng hezuo) was a 2014 addition to the “Go Global” policy suite that the People’s Republic of China’s (PRC) central bureaucracy expanded throughout 2016. It is the result of seeking a way forward from “new normal” low industrial growth rates and is a novel solution to the industrial capacity utilization problems the PRC has suffered since the 2008–2009 spending stimulus flooded into traditional industries. Steel, cement, aluminum, paper, glass, and everything from pork production to robots are in 2017 mired in cyclical overcapacity.

Economics, Governance and public sector management, Industry and trade, Regional cooperation and integration

Will 2025 be the final deadline for the ASEAN Economic Community?

Will 2025 be the final deadline for the ASEAN Economic Community?
The Association of Southeast Asian Nations (ASEAN) fell short of its target of realizing the ASEAN Economic Community (AEC) by the end of 2015, deferring 105 of its 506 measures. A successor blueprint called the AEC Blueprint 2025, which lays out the work for ASEAN economic integration in the next 10 years, was adopted at the 27th ASEAN Summit in November 2015.

Industry and trade, Regional cooperation and integration

TPP and RCEP – friends not foes

TPP and RCEP – friends not foes
Talks just concluded in Auckland, New Zealand on Saturday show that plans for the Regional Comprehensive Economic Partnership (RCEP) are advancing. Just as both Hillary Clinton and Donald Trump, the next potential leaders of the Trans-Pacific Partnership’s (TPP) biggest partner—the US—have distanced themselves from the agreement. Some even suggest that the US Congress won’t ratify the TPP agreement, and warn that the world economy risks US isolationism.