Asian Regionalism

 According to Katzenstein, P. J. et. al. (2000), regionalism is of growing relevance to the

political economy of Asia-Pacific. In the wake of the Asian financial crisis, Asian
Regionalism was emerged during the 1980s and 1990s.
 Specifically, it focuses on Japanese and Chinese business networks in Northeast and
Southeast Asia and the effects of economic, monetary and financial policies on regional
cooperation.
 On the other hand, regionalism is a political ideology which seeks to increase the political
power, influence and/or self-determination of the people of one or more subnational
regions. Regions may be delineated by administrative divisions, culture, language and
religion, among others.
 Asian regionalism is an important factor that both complements and shapes corporate
strategies and government policies in a globalizing economy.
 Asia’s Region is home to over half the world’s population, produces three tenth of global
output, and consistently records the world’s highest economic growth rates.
 Asia’s economies are increasingly connected through trade, financial transactions, direct
investment, technology, labor and other tourist flows, and other economic relationships.
 Purpose of Asian regionalism is to bring dynamic and outward-looking and huge benefits
not just to Asia, but to the world. It could help to sustain the region's growth, underpin its
stability, and—with the right policies—reduce inequality.

Why nations are participating in Regionalism?

 Nations believe that regionalism can boost and support their national interest in
economic, military, political, and even cultural contexts.
  Asian regionalism is the product of economic interaction. East Asian economies, in
particular, focused on exporting to developed country markets rather than selling to each
other. Initially, they specialized in simple, labor-intensive manufactures.

Advantages of Regionalism in Asia:

1. Generate productivity gains and new ideas

2. Contribute to the efficiency and stability of global financial markets
3. Helping to stabilize the world economy and diminish the risks posed
4. Provide leadership
5. Create regional mechanisms

In Asian Regionalism there are Four Major Agenda of some Asian Regional Organizations

1. Trade, investment, and the integration of “real” economic activity;

2. Financial integration;
3. Macroeconomic policy links; and
4. Shared social environmental concerns

Prominent organizations that emerged in the Asian region

 ASEAN (Association of Southeast Asian Nations)
 APEC (Asia Pacific Economic Cooperation)
 APT (ASEAN Plus Three)
 EAS (East Asia Summit)
ASEAN (Association of Southeast Asian Nations)

A intergovernmental organization comprising ten Southeast Asian countries which seeks

to promote intergovernmental cooperation and facilitates economic, political, security, military,
educational and socio-cultural integration amongst its members.

Aims & Purposes of ASEAN

 To accelerate economic growth, social progress and cultural development in the region.
 ASEAN envision in collaborating more effectively for the greater utilization of their
agricultural and industries, the expansion of trade, including the study of the problems of
international commodity trade.

 To promote regional peace and stability

 ASEAN aspire to maintain close and beneficial cooperation with existing international
and regional organizations with similar aims and purposes and explore all avenues for
closer cooperation.

 To promote active collaboration and mutual assistance

 To provide assistance to each other for some adversities

Fundamental Principles of ASEAN

 Mutual Respect for the independence, sovereignty, equality, territorial integrity, and
international identity of all nations.
 The right of every State to lead it’s national existence free from external interference
 Non-interference in the internal affairs of one another
 Settlement of differences or disputes by peaceful manner
ASEAN Community

 Provides and discuss about various problems and global issues, strengthening
cooperation, and making decisions.
 Known or its diverse range of instruments and treaties which enhances cooperation,
recognition and unity in numerous aspects, internally, regionally and internationally.
 Promotes goodwill and diplomacy among countries, shutting out any opinion or decision
considered biased while carrying the principle of non-interference and mutual respect.

APEC (Asia-Pacific Economic Cooperation)

 The Asia-Pacific Economic Cooperation is a regional economic forum established in the
year 1989.
 APEC’s 21 members aim to create greater prosperity for the people of the region by
promoting balanced, inclusive, sustainable, innovative and secure growth and by
accelerating regional economic integration.

APEC’s Members:
• New Zealand
• Papua New Guinea
• Peru
• Philippines
• The Russian Federation
• Singapore
• Chinese Taipei
• Thailand
• United States of America
• Vietnam
• Australia
• Brunei Darussalam
• Canada
• Chile
• People’s Republic of China
• Hong Kong, China
• Indonesia
• Japan
• Republic of Korea
• Malaysia
• Mexico

APT (ASEAN Plus Three)

 ASEAN+3 cooperation began in December 2007
 Institutionalized in 1999 when the Leaders issued a Joint Statement on East Asia
Cooperation at their third ASEAN+3 Summit in Manila.
 ASEAN agreed to strengthen partnership with the People’s Republic of China (PRC),
The Republic of Korea, and Japan.
 ASEAN Plus Three (APT) can be considered as a forum that functions as a coordinator
of co-operation between the Association of Southeast Asian Nations and the three East
Asian nations of China, Japan, and the South Korea.
 APT is the latest development of East Asian regional cooperation.
East Asia Summit
 The East Asia Summit is a unique Leaders-led forum of 18 countries of the Asia-Pacific
Region and other countries form the world.
 It is formed to further the objectives of regional peace, security, and prosperity.
 Established in 2005, EAS allows the principal players in the Asia-Pacific region to
discuss the issues of common interest and concern, in an open and transparent manner, at
the highest level.

The members of EAS

• Australia
• China
• India
• Japan
• New Zealand
• Republic of Korea
• Russian Federation
• USA

Ten ASEAN countries part of EAS

 Brunei Darussalam
 Cambodia
 Indonesia
 Lao PDR
 Malaysia
 Myanmar
 Singapore
 Thailand
 Philippines
 Vietnam

 The concept of East Asia Grouping was first promoted in 1991 by then Malaysian Prime
Minister, Mahathir bin Mohamad.
KEY POINTS
Asian regionalism is the product of economic interaction, not political planning. As a
result of successful, outward- oriented growth strategies, Asian economies have grown not only
richer, but also closer together through establishing organizations and unifying programs.