Regional Economic Cooperation in Asia: current situation and future prospects

The current global crisis has exposed the risk of overdependence of the region on trade and investments with developed markets. Developed markets still absorb around half of the region’s exports, notwithstanding the gains achieved in fostering intra-regional trade over the years. Thus, in a post-crisis scenario, the region is continuing with its strategy of diversifying markets, while recognizing that a full “decoupling” from developed countries is neither feasible over the short term, nor would it be desirable... more »