What is the main purpose of Asian Regionalism?

-to form a loose security alliance against communist expansion rather than economic integration.

What are the advantages of regionalism to the economy of the Philippines?

Asian Regionalism is important because it has been proven to increase the efficiency and
effectiveness of local governments. More efficient government helps keep taxes and fees lower.
Lastly not every issue is better solved through a regional approach and in fact there are many
instances where it just cannot work

Dynamic of Asian Regionalism

- Is the Product of Economic Integration not a political planning.

- In 2008 the Asian Development Bank Published a book on the emerging regionalism in
Asia,Haruhiko Kuroda, then president of ADB ( Asia Development Bank ) it is the one who
assist its members and partners by providing loans, technical assistant, grants, and equity
investment to promote social and economic development.
- in the fore word of this manuscript articulated that the integration is contributary to
economic development experienced by the ASIAN countries then Kuroda identified some
factors which are influential in the growing integration at that time.

Factors that affect in the Growing Integration

Enhanced Dialogue Between Citizens of Various Nation

- Facilitated by growing tourism activities in the regions and the consistent multilateral
meetings among leaders of nation-states.

Expanding Intraregional Trade and Investment

- This brings forth closer financial markets and interdependent economies.

Increased Connectivity

- This is facilitated by regional infrastructure projects as well as collaboration in delivering

public good.

Kuroda noted that the “market-friendly, multitrack and multispeed” approach of the Asian integration
is beneficial for the Asian region because of the following reasons:

- Members can integrate based on their capacity vis-à-vis the available opportunities.
- It opens up for collaboration and merging of smaller groups.
- It is responsive to business and open markets.
Benefits perceived from the Asian Integration.

- It harness the strength of diverse economies.

- make intentional changes that bring in more diversity and allow those diverse individuals with the
same opportunities for success and upward mobility.

- It provides platform for concerning financial market (reduced capital, shared risks.)

 financial market development helps reduce risk concentration and increase market resilience,

greater global integration has also increased

- It makes the economy more resilient to global risk

- Economic resilience can be strengthened implementing policies aimed at mitigating both
the risks and consequences of severe crises.  which is the ability to limit the magnitude of
immediate production losses for a given amount of asset losses, and dynamic resilience, which
is the ability to reconstruct and recover
- It pools resources
- A steady flow of contributions from generous individuals assured a reliable and adequate pool
of resources in order to meet its own needs.

- It creates regional mechanisms for safety and security

This will ensure a rules-based and inclusive community in which our peoples enjoy human rights,
fundamental freedoms and social justice, live in a safe and secured place

Challenges

- The need to establish compatible product standards

- The need to establish guidelines that buffer financial contagion and ensure compatible
financial regulation
- The need to coordinate macroeconomics policies.
- The need to manage cross-border environmental and social policies ( e.g., fair treatment of
migrant workers)

Amitav Acharya

- A professor of international relations, pointed out several criticisms that people who are
skeptical to Asian regional institutions have. Skeptics think that these institutions have neither
truly contributed in resolving conflicts and disputes
Ex. People’s Republic of China-Taiwan, SoKor/ NoKor, and India-Pakistan conflict)
 - Likewise, skeptics observed that these institutions have failed to successfully establish trust-
building within the region, manifested in arms acquisition and increasing naval operation.

Cooperation in Asia

APEC ( ASIA PACIFIC ECONOMIC COOPERATION)

- They ensure that goods, services, investment and people move easily across borders.
- has become the pre-eminent economic forum in the Asia-Pacific region. Its primary
purpose is to promote sustainable economic growth, trade and investment, and
prosperity in the Asia-Pacific region.

EAS (EAST ASIA SUMMIT)

- It is the Indo- Pacific’s premier forum for strategic dialogue. The only leader-led forum which
all key Indo-pacific partners meet to discuss political, security and economic challenges facing
the region and role to play in advancing closer regional cooperation.

APc ( ASIA PACIFIC COMMUNITY)

- It 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.

EAC (EAST ASIAN COMMUNITY)

- To promote neighborliness mutual trust and solidarity among countries in the region.

ASEAN (ASSOCIATION OF SOUTHEAST ASIAN NATIONS)

- Is a regional groupings that aims to promote economic and security cooperation among its 10,
members.
- 10, member
-  Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines,
Singapore, Thailand, and Vietnam.
-

APT (ASEAN PLUS THREE)

- IT PROMOTE THE TRADE AND INVESTMENT, MAINTAINING A FINANCIAL MARKET STABILITY IN

THE REGION PROMOTION OF SUSTAINABLE TOURISM AND PEOPLE TO PEOPLE CONNECTIVITY.

SAARC (SOUTH ASIAN ASOCIATION FOR REGIONAL COOPERATION)

- TO PROMOTE ECONOMIC GROWTH SOCIAL PROGRESS AND CULTURAL DEVELOPMENT

WITHIN SOUTH EAST ASIAN REGION.
- SAARC IS ]AN ECONOMIC AND POLITICAL REGIONAL ORGANIZATION OF COUNTRIES.