China, Japan Korea need cooperative supervisory framework
Yoon Jeung-hyun, Chairman/governor, Financial Supervisory Commission/Financial Supervisory Service

The Year of Asia
Suman Bery
Business Standard, March 29, 2006

Incremental Diplomacy won’t do
M K VENU
Economic Times, March 21, 2006

Bickering delays Asian currency unit launch
Victor Mallet,
Financial Times

A Perilous Collision Between Nationalism and Globalisation
Philip Stephens,
Financial Times
, March 3, 2006

Powerhouse China should not be a threat
David Hale,
The Australian
, March 1, 2006

Promoting growth, ending poverty
Hilary Benn, Secretary of State for International Development, UK

 








































China, Japan Korea need cooperative supervisory framework
Yoon Jeung-hyun, Chairman/governor, Financial Supervisory Commission/Financial Supervisory
Service

Driven by intensifying globalization and economic integration, interdependence is spreading throughout the world. As a result, creating cooperative frameworks and institutional structures for trade, investment and financial stability have become priorities for many countries.
As elsewhere, the rapidly growing trade and investment among China, Japan and Korea necessitate closer cooperation and coordination than ever before. To be sure, the trilateral economic relations and cooperation have steadily progressed at multiple levels over the years, a positive development that serves the common economic interests of the three countries.


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http://www.koreaherald.co.kr/SITE/data/html_dir/2006/03/28/200603280015.asp

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The Year of Asia
Suman Bery
Business Standard, March 29, 2006

The year 2006 is clearly the year of Asia on the brie and Chardonnay circuit. It started with the “India everywhere” extravaganza at Davos, followed by a conclave on Asia in London in March sponsored by the UK’s Department for International Development (DFID). The annual meeting of the Asian Development Bank will occur in the heat of May in our own Hyderabad. This will be followed by the annual meetings of the International Monetary Fund and the World Bank in Singapore in September. Even academics are not spared: the World Bank’s Annual Bank Conference on Development Economics (ABCDE) is to be held in Tokyo this year.

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http://www.business-standard.com/common/storypage.php?leftnm=lmnu2&leftindx=2&lselect=3&chklogin=N&autono=220315


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Incremental Diplomacy won’t do
M K VENU
Economic Times, March 21, 2006

Whatever anyone might say, there is no denying the fact that the Americans lead all others in what can be called out-of-the-box diplomacy. The Bush administration’s audacious offer of treating India as a nuclear Brahmin is a classic example of diplomacy that, at once, takes a huge leap from incrementalism and seeks to radically rearrange the existing framework of relationship.

India and China are both in a position to think innovatively today. Ironically, it is the India-US nuclear deal which can act as the fresh impetus for India to take that big leap in its relations with neighbours like China, Pakistan and Asean. This must actually form the core of its enlightened national interest, a phrase coined by the prime minister in the context of the Indo-US nuclear deal.

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http://economictimes.indiatimes.com/articleshow/msid-1457513,curpg-3.cms


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Bickering delays Asian currency unit launch
Victor Mallet,
Financial Times

Plans to launch an Asian Currency Unit (Acu) to help develop regional bond markets and promote monetary co-operation have been delayed by political and technical arguments over which currencies to include and how the weighting system would work, say people familiar with the project.

“There is agitation over which currencies are to be in the Acu,” said one official at the Asian Development Bank, citing disagreements among Asian governments over the incorporation of the currencies of Taiwan – the island claimed by China – and of Hong Kong, Australia and New Zealand.

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http://news.ft.com/cms/s/fba697ae-bcfb-11da-bdf6-0000779e2340.html


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A Perilous Collision Between Nationalosm and Golobalisation
Philip Stephens,
Financial Times, March 3 2006

Economic power is shifting fast to the emerging nations of the south. China and India are replacing the US as the engines of world economic growth. The next phase of globalisation, in the words of the US National Intelligence Council*, will most likely have an Asian face. Americans and Europeans will not find it comfortable.

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http://news.ft.com/cms/s/2049e290-aa5b-11da-96ea-0000779e2340.html



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Powerhouse China should not be a threat
David Hale
The Australian, March 1, 2006

THE rise of China as a great economic power and the new experiments with multilateralism in East Asia will pose a challenge for US policy. The US has to recognise that there are new forces at play in the region that will alter the traditional balance of power and that the East Asian financial crisis of 1997-98 profoundly altered Asian views of how the world works. There is now far more willingness to collaborate in the region than was the case before the 1997-98 crisis.

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http://www.theaustralian.news.com.au/common/story_page/0,5744,18305310%255E7583,00.html


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Promoting growth, ending poverty
Hilary Benn, Secretary of State for International Development, UK
The Daily Star, March 3, 2006

The one theme that continues to dominate global economic discussion, and took centre stage at this year's World Economic Forum at Davos, is the rise and rise of the new economic powerhouses, India and China.

Asia is a huge and diverse region. The skyscrapers of Mumbai and Shanghai are symbols of an impressive success. But they are not the whole Asian story. Huge inequalities continue to exist across the region. In some cases, the divide between rich and poor is growing as a result of that same economic miracle and the resulting rapid urbanisation and enormous social change. Developing Asian countries is not only the right thing to do, it's eminently sensible.

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http://www.thedailystar.net/2006/03/03/d60303150277.htm




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