Asian Economic Community — Potential to unleash regional growth
G. Srinivasan
The Hindu Business Line
November 25, 2005

While bilateral FTAs tap mutual advantages, greater gains can be had from pan-Asian RTAs. But best of all, as Dr Manmohan Singh suggests, is the creation of an Asian Economic Community, which would unleash the region's full growth potential.

AFTER India refashioned its famous Look-East Policy, attention is now being increasingly focused on translating this into the early launch of a pan-Asian regional co-operation group. Considering that New Delhi is not part of the principal regional trading arrangements (RTAs), other than the inconsequential South Asian Association for Regional Cooperation (SAARC), where its position is often viewed with suspicion by the junior members, it is time for India to pursue seriously the broader Asian integration plan.

Click here to read further : http://www.thehindubusinessline.com/2005/11/25/stories/2005112501401000.htm

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A two-pronged strategy for boosting trade
Jayanta Roy, principal advisor, CII.
16, November 2005

The current state of play in the Doha Round negotiations underlines the importance of stronger bilateral and regional trading agreements for India. As of now, India has concluded trading agreements with Sri Lanka, Thailand and Singapore. In the regional context, Safta and Bimstec are yet to really takeoff.

The first component of the strategy is to benefit from our recent experience with trading agreements and to chart a plan to extend the coverage of countries. The long-term goal for India should be to lead the efforts towards formation of a strong Asian Economic Community that includes Asean, Japan, China, India and Korea. A prerequisite of that is to sign agreements with all the countries constituting it.

Click here to read further : http://www.bilaterals.org/article.php3?id_article=3118

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East Asian identity is coming into being
Wu Jianmin, vice president of the Committee for Foreign Affairs, the National Committee of the Chinese People's Political Consultative Conference, and president of China Foreign Affairs
People’s Daily Online
November 15, 2005

Comparing the economic integration of the European Union (EU) with that of the East Asia, some believe that there are common values and identity among the 25 EU members while there is no common identity for the East Asia since there are great differences in the Asian culture with different development stages and various economic levels. I don't think the argument holds water.

Click here to read further : http://english.people.com.cn/200511/15/eng20051115_221438.html

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Japan sees shared role with China in Asia
By Kathleen Hwang
Asia Pacific Features
November 4, 2005

The challenge is for Japan to find and assert its own identity in a region where it was once a feared military power, then a respected economic giant, but increasingly appears to be eclipsed by China.

If China sees itself as the rising power in Asia, headed for economic, political and eventually military dominance in the region, Japan sees itself as a harmonizing and cooperative force in the region, Kitamura says, ready to contribute its economic power and technical expertise to a rising Asian community.

Japan`s vision for Asia would see the emergence of an East Asian Community that would rival the European Union in terms of economic and political power. Kitamura sees the first East Asia Summit set to take place in Malaysia next month as a test case to discover if China and the other nations in the East Asia Forum grouping are really ready to work together. The group includes the 10 ASEAN nations plus China, Japan, South Korea, India, Australia and New Zealand.

Click here to read further : <http://news.monstersandcritics.com/asiapacific/article_1059904.php/Japan_sees_shared_role_with_China_in_Asia>

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China leads in advocating free trade
Jin Baisong, Researcher, Foreign Trade Research Section of the Research Institute affiliated to the Ministry of Commerce
China Daily, November 2, 2005

Now that East Asian economies' "V formation" - with Japan as the lead goose - has been disrupted, an era of real competition has been ushered in, as pointed out by Joseph Stiglitz, former chief economist of the World Bank.

Competition is one thing and co-operation is another. Total trade volume in East Asia increased by a factor of 7.8 from 1985 to 2003. Mutual investment between different economies in the region has maintained energetic momentum. Bundled together, China, the Republic of Korea (ROK), Japan and the 10-country Association of Southeast Asian Nations (ASEAN) have a population of 2 billion and a GDP of US$7.44 trillion - a match for North America or the European Union. The time is right for establishing free trade zones.

Regional economic grouping follows two paths. One is advocated by China and promoted by Beijing and ASEAN countries, characterized by the establishment of bilateral free trade zones. The other is led by Japan, which also focuses on setting up free trade zones with ASEAN.

Click here to read further : <http://www.chinadaily.com.cn/english/doc/2005-11/02/content_489854.htm>

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