As Asia grows and prospers, its economies are increasingly vital to each other―and to the world. As markets interconnect the region, Asian governments need to work together more closely to sustain economic development, grasp common opportunities, and manage shared risks and problems. This study analyzes the nature of Asia's emerging regionalism, and the opportunities and challenges it poses. Led by a team of ADB staff, scholars, and advisers to regional policy makers, the study highlights what is at stake and lays out the ground for further discussion on how to move forward. The key message of the study is that Asian regionalism entails a partnership for regionally and globally shared prosperity.

Keywords:
Regional economic cooperation in Asia; economic growth; economic cooperation; Asian regionalism; economic development; common opportunities; shared risks and problems; Asian economic block benefits

Topic: Regional Cooperation

Publication Date: December 2008

ISBN: 9789715616867