between EU, US, and Japanese exports to Asia on the one hand and Asian and European exports to industrialized countries on the …

-regions within Asia. Beyond a general trend towards manufactures, it reveals remarkable differences in specialisation profiles … manufactures, resource-intensive goods still play a larger role in intra-Asian trade than in trade outside Asia. This reflects both … differences in factor endowments inside Asia but also differences in access conditions (trade policy). Growth in intra-Asian trade …

is not well-founded. The paper also addresses the likely implications of the Single European Currency for Asia … base concerning the use of European currencies for invoicing, financial transactions, anchor and reserve purposes in Asia. …