Regional Integration in Asia

The added urgency being given to closer economic integration has in part been caused by the growing economic influence of China across the region. ASEAN members fear they will increasingly find themselves losing out to China in exports markets and in the battle to attract foreign direct investment (Thailand 2003, 12).

Despite the drive toward regionalization, there are a number of obstacles and challenges that have stalled the development of regionalization comparable to that of Europe and North America. This analysis will look at these obstacles an

. . .
ations in terms of economics, markets, politics, and culture. For example, even more than in Europe, Asia is a very complex and diverse region. Buddhist nations like Thailand are next door to Muslim nations like Malaysia. Furthermore, there is a great disparity among Asian nations with respect to economic and social development. For example, Japan has one of the strongest and biggest economies in the world, second only to the United States. In comparison, the GDP of Laos is barely a blip on the radar screen of the worldÆs economies. Historical rivalries between China and Japan also remain problematic with respect to achieving true regionalization like that of the EU. Singapore is also adamant against open-door policies on matters like labor. As one analyst maintains: The problems of union are threefold: First is the large difference in incomes across east Asia, Second is currency barriers because the region would have to evolve policies and mechanisms that allow for a greater mobility of capital and labor across national boundaries, and third is national governments have to surrender a growing range of powers to supranational bodies (Singapore 2002, 1). Politically, there are also complex distinctions among the countries i
. . .

Some common words found in the essay are:
Myanmar Vietnam, Fund United, EU Singapore, East Asian, Trading Organization, Bank ABC, Asian Monitor, Nevertheless Asian, Trade AFTA, North America, east asia, economic financial, economic reforms, south east, asian nations, asian leaders, neo-liberal economic, neo-liberal economic reforms, economic crises, economic social development, social development, economic financial political, north america, economic reforms democratic, reforms democratic institutions,
Approximate Word count = 1731
Approximate Pages = 7 (250 words per page)

More Essays on Regional Integration in Asia