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Diane Publishing Books
Regional Cooperation in Asia: Long-term Progress, Recent Retrogression, & the Way Forward
Ramgopal Agarwala & Brahm Prakash. Intra-regional flows of trade, labor, & capital grew rapidly in Asia over the last few decades. However, in recent years, there has been retrogression in all 3 areas basically associated with the slowdown in growth, & departure from the East Asian model in these economies. Major economies are now going through a prolonged slump & suffering from a massive misallocation of its resources, both labor & capital. What is needed now is a program for strengthening the regional finíl. infrastructure, which would involve a vastly increased role for the Asian Develop. Bank in resource transfer within the region & establishment of an ďAsian Reserve BankĒ for greater stability in exchange rates, greater financial security, & greater resource mobilization in the area.
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