Over the past four decades the High Performing Asian Economies (HPAE) have followed a development strategy based on the exposure of their local markets to the presence of foreign competition and on an outward oriented production. In contrast, Latin American Economies (LATAM) began taking steps...

The paper discusses the ASEAN + 3 integration in the context of the literature on hub-and-spoke regionalism. It argues that, provided proper rules of origin are incorporated, the different bilateral arrangements between ASEAN countries and each of the three East Asian economies are building...

More recently, considerable attention has been given to financial regional integration and cooperation, which intensified in the wake of the East Asian financial crisis. Thus, a number of regional initiatives, such as development of regional bond market and credit rating agencies, among others,...

Intraregional trade and investment among the ASEAN+3 countries - and the entire East Asia - has been progressing at a robust pace over the past 25 years. The process of economic integration could be aptly described as "regionalization" or market-driven integration. In contrast, the European...