While much has been said about the need to promote intraregional trade and the importance of reducing associated trade costs, quantitative estimates of such costs have been lacking. A new comprehensive measure of international trade costs is applied in this paper to calculate ad valorem trade costs within and between 4 Asian subregions, including ASEAN and SAARC. Extra-regional trade costs of the 4 subregions with free trade areas outside Asia, such as NAFTA and the EU, as well as their trade costs with China, India and Japan are also calculated.
Corporate social responsibility (CSR) is about companies operating in a manner that is sustainable, cognizant of their responsibility to the wider community in which they are located. CSR is more than simply acts of philanthropy or allocating a proportion of its earnings to worthy causes;it is strategic in nature, and is about how a business actually functions.
Climate change is one of the greatest environmental issues of our time and the Asia-Pacific region is already experiencing its adverse impacts. Studies suggest that the costs of inaction on reducing the consumption of fossil fuels, the main source of climate change, would be many times the costs of action. This report stresses the need to take decisive steps quickly to get the developing countries in this region on course to make inroads in the global effort to combat climate change and achieve sustainable development and green growth.
The Asia-Pacific Trade and Investment Report (APTIR) is a recurrent publication prepared by the Trade and Investment Division. It aims to deepen understanding of regional trends and developments in trade and investment; emerging issues in trade, investment and trade facilitation policies; and impacts of these policies on countries’ abilities to meet the challenges of achieving inclusive and sustainable development. APTIR 2010 describes and analyses the developments in both intraregional and interregional trade and investment since mid-2009. It is organized in six sections.
This paper discusses the potential for cross-South Pacific trade between selected Southeast Asian and Latin American economies. The objective of this discussion is to identify obstacles for more intensive trade between the observed countries. Firstly, the paper reviews trends in trade flows and trade patterns between the selected economies, and by using several trade performance indicators it finds the level of trade still relatively low. It then discusses the possible reasons for this state of affairs.
2010 has seen an impressive recovery of the Asia-Pacific region from the Great Recession of 2008/09. Led by the large economies of China and India, output growth in the region rebounded in 2009 and gathered further strength in 2010. But the region is faced with a weakening of growth in the developed economies which are grappling with a combination of weak household demand and fiscal retrenchment.
The region needs to invest in an efficient system of regional infrastructure for a seamless Asia to emerge. This will provide the foundation for Asian common markets and facilitate the creation of an eventual pan-Asian community. None of this will be easy, but it will have to be done by building institutions, harmonizing policies and regulations, developing and aligning standards, and, most crucially, attracting the required capital to the right kinds of regional projects.
Since its first meeting in December 1999 in Berlin, the Group of 20 or G20 has come a long way to establish its relevance, credibility and emerge as a premier council for global economic cooperation. Initially set up as a group of Finance Ministers and Central Bank Governors of systemically important countries, it proved to be very effective forum for discussing and implementing a globally coordinated response to the global financial and economic crisis since November 2008 when it met for the first time at the Summit level in Washington, DC.
Global macroeconomic imbalances are among the key issues facing policymakers, especially in the US and China which are the two major affected / contributing parties. While there has been a great deal of discussion and disagreement on this important issue, what all sides have in common is the general failure to adequately pay attention to the role of the exchange rate in allocating resources internally between tradables and nontradables. These sectoral changes can have both real and macroeconomic consequences.