...The East Asia’ Regional Economic Integration Tutor: Griffith, Edward Student ID: 20647046 Student Name: Hong Xu (Eric) Word Count: 2369 Date of Submission: 18/1/2016 The East Asia’ Regional Economic Integration In the past twenty years, the East Asian economies realized the freedom of foreign trade and direct investment (FDI) because of the influence of GATT/WTO and APEC and as a result, it further promotes the economic growth of East Asia. The mutual economic dependence of each countries has increased a lot and therefore, close economic cooperation among Asian countries is necessary for healthy economic development. Many countries try to deepen their cooperation by establishing agreement and carrying out negotiation or discussion (Kawai 2004). Besides, the East Asian countries want to have their own institutions where they have vital voice in decision making after the financial crisis. As a consequence, the regional economic integration become an inevitable trend. The structure of this essay is organized as follows. The first part of this essay will discuss the driving forces of...
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...ECIPE OCCasIOnal PaPEr • no. 2/2010 REGIONAL ECONOMIC INTEGRATION IN ASIA: THE TRACK RECORD AND PROSPECTS By Razeen Sally Razeen Sally (razeen.sally@ecipe.org) is Director of ECIPE and on the faculty of the London School of Economics www.ecipe.org info@ecipe.org Rue Belliard 4-6, 1040 Brussels, Belgium Phone +32 (0)2 289 1350 ECIPE OCCASIONAL PAPER ExECuTIvE SuMMARy This is the season for regional-integration initiatives in Asia. There is talk of region-wide FTAs, and there are east-Asian initiatives on financial and monetary cooperation. But grand visions for Asian regional blocs are not achievable. Regional economic integration is most developed in east Asia, but only because of manufacturing supply chains linked to global markets. South Asia is the most malintegrated region in the world. And east and south Asia are much less integrated in finance than they are in trade and FDI – due to highly restrictive national policies governing financial markets. Asia’s existing FTAs are “trade light”. They are largely limited to tariff cuts, but have barely tackled non-tariff regulatory barriers in goods, services and investment, and are bedevilled by complex rules of origin requirements. An APEC FTA initiative has gone nowhere – entirely predictable given such a large, heterogeneous grouping. An east-Asian or a pan-Asian FTA, by discriminating against third countries, would compromise regional production networks linked to global supply chains. Moreover, huge economic...
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...Running Head: Impact of Language on Asian American Health Impact of English Language Proficiency (ELP) on Health and Health Care Among Elderly Asian Americans Amoldeep Kaur Written Assignment #2 Epidemiology/Public Health 240 Winter 2013 The elderly population is the fastest growing population in the United States, and the number of immigrants that fall within this group has nearly doubled (Ninez, Hsys, & Cunnigham (2005). Foreign-born elderly account for 11% of the elderly population and this is expected to quadruple in size and reach 16 million by 2050 (Terrazas & Batalova, 2009). Currently most foreign born elders belong to Europe, but this is predicted to change in the upcoming years. Asians are among one of the fastest growing elderly population in the United States (Belozersky, 2005). Majority of Asian Americans are foreign born and report speaking a language other than English (Searight, 2009). Multiple languages and dialects spoken by the subgroups within the Asian American population bring more linguistic diversity and disparities to the United States. Furthermore, fastest growing minority in the United States has been stereotyped and inherited the label “model minority”. This label neglects the problems faced by the poorer and less successful member of this group, including the elderly, “they are hobbled by less blatant but more pervasive barrier of language and culture” (Dugger, 1992). Elderly immigrants find it more difficult to thrive...
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...Asian Paint is one of the leading companies in India. The company want to lunch the new product called Royal Play. The company has decided various planes for promoting the product. The various functions relating to the marketing plane is as below. 2.1 Current Market Situation Asian Paints is India’s largest paint company and Asia’s third largest paint company, with a turnover of Rs 66.80 billion. The group has an enviable reputation in the corporate world for professionalism, fast track growth, and building shareholder equity. Asian Paints operates in 17 countries and has 23 paint manufacturing facilities in the world servicing consumers in over 65 countries. Besides Asian Paints, the group operates around the world through its subsidiaries Berger International Limited, Apco Coatings, SCIB Paints and Tubman’s. Forbes Global magazine USA ranked Asian Paints among the 200 Best Small Companies in the World for 2002 and 2003 and presented the 'Best under a Billion' award, to the company. Asian Paints is the only paint company in the world to receive this recognition. Forbes has also ranked Asian Paints among the Best under a Billion companies in Asia In 2005, 06 and 07; The Company has come a long way since its small beginnings in 1942. Four friends who were willing to take on the world’s biggest, most famous paint companies operating in India at that time set it up as a partnership firm. Over the course of 25 years Asian Paints became a corporate force and India's leading paints...
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...Economic Integration The concept of “Economic Integration” has been growing in significance for the past 50 years and was established by economists who investigated the early attempts of European countries to combine separate economies into larger economic regions.18 More specifically, economic integration—also called “regional integration”—refers to the discriminate reduction or elimination of trade barriers among participating nations. This also implies the establishment of some form of cooperation and coordination among participants, which will depend on the degree of economic integration that ranges from free-trade areas to an economic and monetary union. Integration among countries in a geographical region to reduce, and ultimately remove, tariff and non-tariff barriers to the free flow of goods, services, and factors of production among each other. For examples: EU (European Union), NAFTA (North American Free Trade Agreement), APEC (Asia Pacific Economic Cooperation) Level of economic integration: The levels of economic integration divided into five different levels and they are shown in figure 1.0. The first one is the Free Trade Area, Custom Union, Economic Union, Monetary Union and then the political union. These five levels are inter- linked with each other; first we have to have the come up with the identification of the free trade area among the participant. Than to ensure the exchange of the goods among the participant a custom union will be required. This custom...
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...SOC 322 All Discussions Forum Click Link Below To Buy: http://hwcampus.com/shop/soc-322-discussions-forum/ Discussion Forum 1 Discussion Forum 1: What is your cultural background, and what is it like where you live? In Discussion Forum 1, post your response to the following discussion questions. Reply to at least two classmates’ responses by the date indicated in the course Calendar. 1. What is your cultural background, and what is it like where you live? 2. Describe how you have encountered the strange in the familiar in your own neighborhood or in some other place and what reference groups do people use in your neighborhood to define what is culturally and socially appropriate habitus? 3. In your neighborhood, are there ways that the people create social distance to separate themselves from others unlike them even to the point of being ethnocentric? CO1, CO7 Discussion Forum 2 Discussion Forum 2: Cultural Experiences In Discussion Forum 2, post your response to the following discussion question. Reply to at least two classmates’ responses by the date indicated in the course Calendar. Using a blend of your own experiences, supported by your understanding of the course readings and key terms integrate the following questions into your discussion board posting. It should be three strong paragraphs of 4 – 5 sentences in each paragraph. Then respond to at least two colleagues with an antithesis question on their posting. 4. Culture defines social roles...
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...Convergence and Its Implications for a Common Currency in ASEAN Kraiwinee Bunyaratavej, Eugene D. Hahn ASEAN Economic Bulletin, Volume 20, Number 1, April 2003, pp. 49-59 (Article) Published by Institute of Southeast Asian Studies For additional information about this article http://muse.jhu.edu/journals/ase/summary/v020/20.1.bunyaratavej.html Access provided by Bangor University (24 Feb 2014 20:30 GMT) ASEAN Economic Bulletin Vol. 20, No. 1 (2003), pp. 49-59 Convergence and Its Implications for a Common Currency in ASEAN Kraiwinee Bunyaratavej and Eugene D. Hahn The successful introduction of the euro brings renewed interest to the topic of whether similar approaches might be successfully implemented in other regions. One region that may be a promising candidate for this process is Southeast Asia, comprising the ASEAN member countries. These nations have long seen the value of co-operation in order to promote peace, stability, and economic growth. Nonetheless, important differences between the euro area and the ASEAN zone suggest that a wholesale importation of the European approach may be inopportune at the moment. The issues are examined by using economic convergence modelling perspectives. In general, the findings clearly suggest that further work remains before ASEAN will be able to fully benefit from having a single currency area. I. Introduction this is an achievable, or even a desirable, goal. The recent successful introduction of a common ...
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...the two precedent successful free-trade experiments, the EU and NAFTA(North American Free Trade Agreement). EU originated from the European Coal and Steel Community, before developing into the Common Market and further into European Community, and finally, into the EU. 1The ‘living’, ‘evolving’ treaties and agreements of the EU very much guide the living agreement of TPP/TTIP. NAFTA originated from CUSFTA (Canada-US FTA), which was implemented in 1989, and followed by NAFTA, ratified in 1994. Both EU and NAFTA existed before the WTO finally replaced GATT at the beginning of 1995. The replacement not only greatly expanded sectoral coverage but also replaced the GATT’s quite weak dispute-settlement mechanism.2 The liberalization and integration of trade had mainly proceeded under the auspice of WTO prior to the year 2000. With the evolvement characterized by the widening of the trade agenda to include the movement of people and not just that of goods, services, investments and capital,3 international society called for an update of the WTO. Although the Doha round did inspire some discussion in 2001, developing states fundamentally refused to open their market to the services and goods of the developed ones. With very little progress and protracted timetable, many states had become disappointed with the development and had turned to bilateral or regional FTAs as alternatives rather than under the auspice of the WTO4, seeing as the WTO charter allows for regional, preferential...
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...thus, results in the company acquiring the other company’s assets and liabilities. There are various types of business mergers. There are vertical forward integration, vertical backward integration, lateral integration and conglomerate. For example, when a sugar factory merges with a supermarket such as TESCO, it is considered a vertical forward integration because it is merging with a tertiary sector while a sugar factory is a secondary business sector – it processes raw materials and sends them off to a retail or wholesaler for goods to be sold. However, when the sugar factory merges with suppliers such as sugarcane factory, it is considered a vertical backward integration because the sugarcane factory is a primary business sector. Also, if RHB – an Investment bank merges with Commercial banks like HSBC bank or CitiGroup etc, it is considered a conglomerate as commercial banks cater to only individual clients whereas investment banks are financial institutions that assists individuals, corporations and governments in raising capital by underwriting and/or acting as the client's agent in the issuance of securities. Merging these two banks would result in a Universal Bank which participates in many kinds of banking activities. However, when RHB Investment Bank merges with OSK Investment bank, it is under lateral integration. This is because both RHB & OSK are both at the same level - Investment Banks and are at the same field – Business and this is what I will be talking...
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...CHAPTER 1 INTRODUCTION TO GLOBAL MARKETING SUMMARY A company that engages in global marketing focuses resources on global market opportunities and threats. Successful global marketers such as Nestle, Coca-Cola, and Honda use familiar marketing mix elements – the four Ps – to create global marketing programs. Marketing, R&D, manufacturing, and other activities comprise a firm’s value chain; firms configure activities to create superior customer value on a global basis. Global companies also maintain strategic focus while pursuing competitive advantage. The marketing mix, value chain, competitive advantage, and focus are universal in their applicability, irrespective of whether a company does business only in the home country or has a presence in many markets around the world. However, in a global industry, companies that fail to pursue global opportunities risk being pushed aside by competitors. A firm’s global marketing strategy (GMS) can enhance its worldwide performance. The GMS addresses several issues. First is nature of the marketing program in terms of the balance between a standardization (extension) approach to the marketing mix and a localization (adaptation) approach that is responsive to country or regional differences. Second is the concentration of marketing activities in a few countries or the dispersal of such activities across many countries. Companies that engage in global marketing can also engage in coordination of marketing activities. Finally...
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...Bolivia, Colombia and Peru. Venezuela is currently in the process of integrating into the bloc and it will become a full member once all members’ parliaments ratify its accession (Bosworth, 2011). Since it was established, Mercosur has made remarkable achievements. It is now South America’s leading economic integration organization and the world's fourth largest integrated market after the European Union, North American Free Trade Agreement and the Association of South East Asian Nations. Moreover, the scope of cooperation is expanding to other areas, particularly the political and diplomatic fields. Objectives Mercosur’s main objectives include: through the effective use of resources, coordination of macroeconomic policies, to strengthen the economic complementation and promote economic development, thereby improving people's living conditions, and promoting regional economic integration process. Specifically, it aims at promoting free trade and bringing about the fluid movement of capital, goods and services among its members, and achieving a common external tariff as well. Problems The consolidation of Mercosur has contributed to regional integration in Latin America. It has enhanced trade and economic development, improved the international status of the member...
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...Executive Summary The Bogor Declaration made in the 1994 Summit meeting was spectacular achievement establishing in ultimate direction of the APEC progress. The goals of “free trade and investment in the region” clearly asks the member economies to make commitments to liberalize their trade and investment regime. Unfortunately, however, the progress to achieve the Bogor goals for the past 10 years has been so disappointing and undermined the momentum of the APEC process. He comes the importance of Bogor Goals. In spite of varying perception, it is the single most important goal of APEC cooperation. Next session will be more on ASEAN summit in Singapore 1992. And will show its ASEAN free trade area as a framework of initial cooperation. The third session will be much more interesting, will report about Osaka Agenda 1995 its 3 pillars of action, Shanghai Accord 2001 on trade facilitation plan and the APEC meeting in Busan 2005 for mid term stock. The mid term stock relates to the Bogor Declaration of 1994. The Bogor Goals set out in the declaration underpin all APEC plans and actions. Specifically, all member economies have determined to realize free and open trade. Table of Contents 1.0 Research into the original goals of forming APEC as an informal grouping 2.0 Include the resolutions of ASEAN Summit in Singapore in 1992 in launching an ASEAN Free Trade Area schedule as a framework of initial cooperation 3.0 Elaborate on the following...
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...the Association of Southeast Asian Nations (ASEAN) Updated June 2012 The Canadian Trade Commissioner Service presents a Global Commerce Strategy Priority Market The Association of Southeast Asian Nations (ASEAN) 1 —Brunei Darussalam, Burma, Cambodia, Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand, and Vietnam—makes up one of the world’s fastest growing economic regions. In December 2008, ASEAN’s Charter came into force, granting ASEAN status as an international legal entity. With an estimated combined gross domestic product (GDP) of $2.1 trillion and a combined population of about 609 million people, ASEAN is a regional economic force that is quickly becoming the free trade hub of Asia. It has concluded free trade agreements with China, India, Japan, Korea, and Australia/New Zealand, has completed a Trade and Investment Framework Arrangement with the United States, and is in the process of pursuing several other trade and investment agreements. The ASEANChina FTA, which came into force in 2010, represents one of the largest free-trade zones in the world, with an estimated 2.0 billion consumers. ASEAN is also pursuing further internal integration with the establishment an Economic Community (target date 2015), which would harmonize trade laws and permit the free movement of goods, services, labour, and capital to create a single market and production base. Today, ASEAN’s growth is being driven by a growing middle class, economic integration of the 10 economies and its...
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...The different development and changes in every day life introduce a new world system .The Internet and technological developments in telecommunications connect all the nations together but in the same time it does not mean that there is no barriers especially trade barriers .to regulate the world trade barriers and injustice, countries cooperate and construct the World Trade Organization. WTO promotes the free trade zones and equal trade regulations to increase competition in global market. But regardless of the size of the business there are regulations to govern exports and imports. To minimize these losses from barriers and regulations is important. Thus, there are regional trade blocks to associate nations at a governmental level to promote trade and defend the members against competition. The defense mechanism against global competition obtained through making tariffs on goods produced by member countries, import quotas, government subsidies, and technical and non-tariff barriers. As trade is not an isolated activity member countries also cooperate in political, security, climatic, economic and other issues affect the region. Countries participate regional blocs because of its advantages in trade and economy. Transaction costs between countries will be eliminated. It will be easier to compare prices between participants. Uncertainty caused by exchange rate fluctuations will be blocked. The inflation in member economies will decrease. It will reduce the cost...
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...President Aquino: APEC Philippines 2015 to Build More “Inclusive Economies”inShare The Philippines is intent on building on the significant breakthroughs in trade and economic sustainability achieved by APEC member economies this year in China and ensuring that the benefits are widely felt, said President Benigno Aquino III on the eve of the archipelago’s commencement as APEC 2015 Chair. Establishing a more inclusive economic environment across the Asia-Pacific will be the focus of collaboration in APEC over the coming year, revealed President Aquino in a kick-off speech in Manila on Monday evening. It set the tone for the APEC Informal Senior Officials’ Meeting on 8-9 December in Legazpi City, Albay that will mark the first assembly of member economies as part of APEC Philippines 2015 and decide their agenda priorities. “One week from now, we’ll be demonstrating a thousand per cent effort – the first visitors for APEC 2015 will set foot in our country, and the Philippines will have the distinct privilege of hosting the next chapter in one of the largest joint efforts to improve trade and cooperation amongst major economies,” said President Aquino. “Here, within our communities, leaders from government and the private sector will map out the future of the Asia-Pacific.” “This gathering’s significance is magnified when one considers that, in a world where many economies are reeling from uncertainty, Asia-Pacific economies have, for the large part, sustained a relatively...
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