Unlocking the Potential for East and North-East Asian Regional Economic Cooperation and Integration
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Unlocking the Potential for East and North-East Asian Regional Economic Cooperation and Integration

At the outset, the subregions of East and North-East Asia are more dissimilar than similar, with different stages of development, economic structure and size, political systems and culture. Due to these differences and long standing historical and geopolitical tensions, institutionalized regionalization has not made much progress. Yet, there are increasing interactions, both officially and at the grassroots level, reflecting the growing importance and interdependence within this group of countries. From an economic standpoint, regional integration is more likely to be successful when countries have complementarities in factor endowments that can be shared to mutual benefit. This publication looks into how greater cooperation and integration could offer solutions to not only the old problems of poverty and political instability facing the subregion but also the new challenges posed by economic growth such as emerging income gaps, environmental degradation, urbanization and congestion and various social issues.

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Moving towards market integration You do not have access to this content

English
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Author(s):
ESCAP

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Trade is the most fundamental linkage among countries. It is an area where spontaneous and formal cooperation and integration take place most frequently. For many of the ENEA economies that have followed an export-led development strategy, interdependence and integration have been most pronounced in trade. In 2015, ENEA economies made up 20.2 per cent of global trade, with exports and imports accounting for 21.4 and 19.0 per cent of the total, respectively.