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The coronavirus disease (COVID-19) pandemic disrupted both supply and demand sides of an interconnected world economy in 2020. Asia and the Pacific was not immune as lockdowns and travel and trade restrictions affected nearly all aspects of cross-border economic activity. This publication examines the initial impact on trade, investment, finance, and people’s mobility across the region as the pandemic struck. It looks at how regional economies individually or collectively respond to the crisis by, for example, leveraging rapid technological progress and digitalization as well as increasing services trade to reconnect and recover. The theme chapter focuses on digital platforms and how they can accelerate digital transformation across the region.
The Asian Economic Integration Report is an annual review of Asia's regional economic cooperation and integration. It covers the 48 regional members of the Asian Development Bank. This issue includes Special Chapter: How Can Special Economic Zones Catalyze Economic Development?
This report documents Asia's progress in regional cooperation and integration. This publication documents Asia's progress in regional cooperation and integration. It covers the 48 regional members of the Asian Development Bank and analyzes regional as well as global economic linkages. The 2018 report's special chapter Toward Optimal Provision of Regional Public Goods in Asia and the Pacific examines how collective action among countries can help find solutions to growing transnational development challenges. The special chapter also discusses how to best provide regional public goods that transcend the so-called collective action problem which occurs when individual interests are too weak on their own to drive cooperation on common issues.
Infrastructure is essential for development. This report presents a snapshot of the current condition of developing Asia's infrastructure---defined here as transport, power, telecommunications, and water supply and sanitation. It examines how much the region has been investing in infrastructure and what will likely be needed through 2030. Finally, it analyzes the financial and institutional challenges that will shape future infrastructure investment and development.
After a disappointing 2019, growth prospects in developing Asia have worsened under the impact of the current health crisis. Signs of incipient recovery near the turn of this year were quickly overthrown as COVID-19 broke out in January 2020 in the region’s largest economy and subsequently expanded into a global pandemic. Disruption to regional and global supply chains, trade, and tourism, and the continued spread of the outbreak, leave the region reeling under massive economic shocks and financial turmoil. Across Asia, the authorities are responding with policies to contain the outbreak, facilitate medical interventions, and support vulnerable businesses and households. Assuming that the outbreak is contained this year, growth is expected to recover in 2021. Especially to face down fundamental threats such as the current medical emergency, innovation is critical to growth and development. As some economies in developing Asia challenge the innovation frontier, many others lag. More and better innovation is needed in the region to sustain growth that is more inclusive and environmentally sustainable. Five key drivers of innovation are sound education, productive entrepreneurship, high-quality institutions, efficient financial systems, and dynamic cities that excite knowledge exchange. The journey to creating an innovative society takes long-term commitment and hard work.
On 28 July 2008, the ASEAN Studies Centre and the Regional Economic Studies Programme, both of the Institute of Southeast Asian Studies, and the Konrad Adenauer Stiftung organized a roundtable on The ASEAN Economic Community Blueprint. The brainstorming session gathered Southeast Asian experts from the region to discuss the AEC Blueprint, which ASEANs leaders had adopted at their summit meeting in November 2007, and the prospects of any obstacles to its implementation by the target year, 2015. The roundtable started with a progress report on the AEC Blueprint given by S. Pushpanathan, Principal Director of Economic Integration and Finance, ASEAN Secretariat, Jakarta. Thereafter, the sessions examined the various aspects of the Blueprint tackling the non-tariff barriers, designing a comprehensive ASEAN Investment Agreement, a regional framework for competition policy, the role of infrastructure development in economic integration, the importance of international production networks in economic integration, etc.
This report shows how smart trade and investment policies, and regulatory cooperation in the Asia and Pacific region can help economies tackle climate change, recover from the pandemic, and support resilient and sustainable development. Analyzing topics including global value chains, investment, the movement of people, and regional cooperation initiatives, it outlines the economic and environmental challenges the region currently faces. It explores how trade and investment policies can support climate action and highlights why a joined-up approach is essential to help deepen the digital economy, strengthen supply chains and foster greener businesses, markets, and trade.
The 2021 edition of the Outlook addresses reallocation of resources to digitalisation in response to COVID-19, with special focuses on health, education and Industry 4.0. During the COVID-19 crisis, digitalisation has proved critical to ensuring the continuity of essential services.
The growth of world trade has been stagnant in recent times; trade liberalisation now has been challenged. The recent rise of anti-globalisation calls for a better integration in East Asia. How should East Asia manage its openness? This book provides profound analyses on rules of origins, non-tariff measures, restrictiveness in services and investment. It gives insight into how East Asian countries should shape its trade, investment and industrial policies. This book helps to answer what kind of a better integration it should be, and how East Asia can realise it.
Brings together experts from around the world to consider specific issues pertaining to regional integration and governance within small states. The authors collectively address the challenges posed to small states by the quickened pace of globalisation. The lessons learnt from the experiences of small states are then used to draw policy lessons for the Pacific island countries.