Opinions < 2004 < September


Sino-Indian Ties Could Alter the Trade Balance

Anna Greenspan
The Strait Times
September 17, 2004

Behind the headlines about a shifting power balance between the rising Asian giants - China and India - and the West, a new relationship is quietly taking shape that could affect the world economy profoundly: the rapidly growing business ties between the once estranged giants of Asia.
...the prolonged contact between the neighbours 'has been the major factor in the shaping of the Asian mind, for, from China, its influence radiated to Korea, Japan, Mongolia, and other more distant lands'.

Click here to read further: http://straitstimes.asia1.com.sg/commentary/story/0,4386,273021,00.html?


Intra-Asian Exchange Rate Viable

Tong Yee Siong
The Edge Daily,Malaysia
September 15, 2004

An intra-Asian exchange rate arrangement similar to the European Monetary System will be more viable than a single currency for Asia, says former European Central Bank (ECB) president.
Dr Willem Duisenberg said such an exchange rate arrangement would be a clear step towards a regional monetary organisation. It would have the advantage of providing an order to intra-regional trade relations, making it independent of the vicissitudes of external currencies,? he said at a luncheon talk on the Euro and Asia in Kuala Lumpur on Sept 14.

Click here to read further http---www.theedgedaily.com-80-cms-content.jsp-id=com.tms.cms.article.



Reviving An Idea for Asian Community 

George Sioris 
The Japan Times
September 12, 2004 

First, there should be harmony in leadership between the two driving forces of the exercise, China and Japan. Second, various other pre-existing formations should be brought to a flexible coexistence with the future community. So far, we have a multitude of parallel mechanisms: the 10-member Association of Southeast Asian Nations, ASEAN-Plus-Three (China, Japan and South Korea), the Asia-Pacific Economic Cooperation forum, the ASEAN Regional Security forum. But, as Hank Lim of Singapore observed, "ASEAN is too formal, ASEAN-Plus-Three is too loose, while APEC is dominated by the United States."Such expansion would be fine, but then what of India? How could we exclude this Asian giant on the technicality that it lies in South, and not East, Asia? Would it be better therefore if we spoke of an "Asian community" in general, leaving aside "East" ?

Click here to read further: http://www.japantimes.co.jp/cgi-bin/geted.pl5?eo20040912a1.htm



A Partnership in Review/Economic Gravity : Asian Union

Manabu Hara
The Asahi Shimbun
September 6, 2004

As the region's economy grows, a common Asian currency will gain favor, says Mr. Yen. `The current calm Japan-U.S. economic relationship basically means Tokyo is no longer seen as an economic threat to Washington. This is the 15th in a series of interviews examining Japan-U.S. ties and their implications.'
Eisuke Sakakibara, the man known internationally as Mr. Yen from his time as head of international monetary affairs at the Ministry of Finance, believes that Washington's unilateral action in Iraq has triggered the beginning of the decline of the ``Pax Americana.'' He foresees that in the mid- to long term, creation of an Asian version of NATO and a common Asian Monetary Unit could become a reality.

Click here to read further: http://www.asahi.com/english/business/TKY200409060087.html