Regional Cooperation and Integration in a Changing World

Asia is on the rise with increasing significance in the global economy. In parallel, regional cooperation and integration is becoming stronger, bringing both benefits and costs. The region is diverse, and so are the challenges that must be overcome to achieve greater trade and financial integration. For trade, with the Doha Round stymied, what is the best route to take in untangling the noodle bowl of FTAs? And how best to deepen financial integration? How does integration impact inequality—within and across countries? There are risks to integration. How should they be addressed? This monograph—prepared for the 2013 Asian Development Bank Annual Meeting—aims to stimulate debate and further research on the role regional integration can play in sustaining growth, reducing poverty, and promoting welfare and future prosperity for Asia and the Pacific.