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An ‘Asian Currency Unit’ |
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Asian
Currency Unit Minus Indian Rupee? |
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Arc
of disadvantage |
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Asian
Consumers are on the Rise |
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Watch,
you're stepping into a noodle bowl |
An
‘Asian Currency Unit’? THERE has been talk recently about a proposed index of regional
currencies, which is now being referred to as the “ACU”
after the “ECU”, the precursor of the euro.
Asian
Currency Unit Minus Indian Rupee? Even
though Asia has been slow to respond to the global trend in regional
trade blocs in different parts of the world, from the EU to NAFTA
to Mercosur, functional cooperation in Asia has progressed quite
well over the past decade. Intra-regional trade has grown to account
for more than half of Asian countries’ total trade. India
is a part of that trend, with East Asia emerging as its largest
trading partner, accounting for more than 40% of the country’s
trade. Even among individual countries, China has emerged as India’s
second largest trade partner and may shortly become the largest,
overtaking the US.
Arc
of disadvantege As a vision statement, Prime Minister Manmohan Singh’s idea of a pan-Asian community encompassing the Association of South-East Asian Nations (ASEAN), China, Japan, Korea and India rivalling the European Union in terms of income and the North American Free Trade Area in trade is, no doubt, bold and ambitious. But the necessary building blocks—in terms of India’s bilateral and regional free trade agreements with individual Asian countries—to realise this “arc of advantage” are of varying size and shape that might well become stumbling blocks to this process of integration. Click
here to read further :
Asia's
export-driven economy has a new engine of growth: Its own people.
With unemployment low and wages rising, Asian consumers are spurning
the thrifty ways of their parents and turning out to buy. Click
here to read further :
The
Indo-ASEAN free trade agreement is by far India’s most significant
move towards regional integration of her economy. If we agree that
as an emerging economic power, India has to secure its due place
among the dynamic Asian economies, this must be hailed as a highly
welcome move. |
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