Key to a Common Currency
Mamoru Ishida (Guest fellow, The  Institute of Asia-Pacific Studies, Zhengzhou University, China, and Adviser, IItochu Corp) 
The Japan Times 
Creeping Unification 
Newsweek, USA
Asia, A Positive Force in World Economy
Indo Asian News Service
The Emerging Bay of Bengal
Donald L Berlin (Professor of international relations at the Asia-Pacific Center for Security Studies in Honolulu)
The Asia Times
Lineage of the Asian Community Concept
George Sioris (President Emeritus, Asiatic Society of Japan) 
The Japan Times
A Vision for Asia
P. S Suryanarayana 
The Frontline

 

 

 

 

 

 

 

 

 

 

 

Key to a Common Currency

Mamoru Ishida 
The Japan Times 
January 31, 2005 

This year a summit of ASEAN plus China, South Korea and Japan is to be held to discuss an East Asian community. The idea is to institutionalize de facto economic integration and to promote further economic development and security.

Essential to regional economic development is an Asian currency system aimed at controlling exchange-market volatility. A common Asian currency would eliminate exchange-rate fluctuations in the region and facilitate trade and investment.

At present, ASEAN currencies are either pegged to the dollar or to a basket of currencies in which the dollar is dominant. So it wouldn't be hard for ASEAN and China to shift to a common currency basket in the leadup to a common currency.

Click here to read further: http://www.japantimes.co.jp/cgi-bin/geted.pl5?eo20050131a1.htm

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Creeping Unification

Newsweek, USA
January 29, 2005 

Asian governments are taking subtle steps toward a financial union that echoes the unification of Europe. True, an Asian central bank and unified currency could be more than a decade away, but financial integration is accelerating. Asian central banks are already moving to pool cash reserves in order to help bail out regional economies in times of crisis. Asian debt markets are starting to issue bonds in local currencies, rather than the dollar, while Asian stock exchanges have started to sell shares in companies from neighboring countries.

Click here to read further: http://msnbc.msn.com/id/6884664/site/newsweek/

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Asia, A Positive Force in World Economy

Indo Asian News Service
January 29, 2005 

With its dynamic model of cooperation, Asia has become a positive force on the rise in the world economy, a senior Chinese official said at the World Economic Forum (WEF), reports Xinhua.

Chinese Assistant Foreign Minister Shen Guofang said the development in Asia, which has drawn worldwide attention amid growing globalisation and regional integration, has three features.

Click here to read further: http://www.eians.com/stories/2005/01/29/29asia.shtml#

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The Emerging Bay of Bengal

Donald L Berlin 
The Asia Times

January 25, 2005 

The Bay of Bengal basin, the Indian Ocean zone most ravaged by December's tsunami, is fast becoming a more integrated and well-defined strategic and economic arena.

Most recent were agreements this past month among India, Bangladesh and Myanmar affirming their intention to cooperate in natural gas exploration and to build a gas pipeline, the "Eastern Corridor Pipeline", from India, through Bangladesh, to Myanmar.

Click here to read further: http://www.atimes.com/atimes/South_Asia/GA25Df05.html

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Lineage of the Asian Community Concept

George Sioris
The Japan Times
January 24, 2005 

Last fall the embryonic concept of an Asian community appeared to gain some momentum. Now, of course, other topics, mainly the tragedy of the Dec. 26 tsunamis, have monopolized public attention, but the vision of a broader Asian community deserves further discussion.

Since the Asian community concept appears to have roots in the past, and as such is not a new initiative, I would like to offer a small historical insight that may not be known to everyone interested in this issue.

Click here to read further: http://www.japantimes.co.jp/cgi-bin/geted.pl5?eo20050124a1.htm

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A Vision for Asia

P. S Suryanarayana 
The Frontline
Volume 22, Issue 01 (2005)

A "Revolution of rising expectations" or, simply, the idea of win-win inter-state cooperation is sweeping across much of East Asia as the region looks for a new architecture of "shared prosperity" for the countries concerned.

The vision is based on the recognition by the Association of South East Asian Nations (ASEAN), at its summit with China, Japan and South Korea in Vientiane on November 29, that "the establishment of an East Asian Community is a long-term objective". The leaders of these countries "reaffirmed the role of [the] ASEAN+3 process as the main vehicle for the eventual establishment of an East Asian Community". The ASEAN+3 forum consists of all 10 member-states of the ASEAN, and China, Japan and South Korea.

India's new initiative for the formation of a wider "Asian Economic Community", in the fullness of time for obvious reasons, acquires importance against such a background. Surprisingly, the ASEAN Chairman's statement, issued at the conclusion of its third summit with India in Vientiane on November 30, was silent on Prime Minister Manmohan Singh's proposal for an "Asian Economic Community".

Click here to read further: http://www.hinduonnet.com/thehindu/thscrip/print.pl?file=20050114000406000.htm&date=fl2201/&prd=fline&

 

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