Leaders from ASEAN countries and their six regional free trade partners agreed to start negotiations for the Regional Comprehensive Economic Partnership (RCEP) on 20 November 2012. The ‘Phnom Penh milestone’ signaled ASEAN’s determination to lead the way in assembling the emerging regional economic architecture. The existing FTAs between ASEAN and China, Japan, South Korea, India, Australia and New Zealand could eventually lead to the creation of an integrated market with a combined market population of more than three billion people, and a combined GDP of about US$19.78 trillion (based on 2011 figures). With the region accounting for more than half of the global market and about a third of global economic output, a successful RCEP would significantly boost global trade and investment.

Leaders from ASEAN countries and their six regional free trade partners agreed to start negotiations for the Regional Comprehensive Economic Partnership (RCEP) on 20 November 2012. The ‘Phnom Penh milestone’ signaled ASEAN’s determination to lead the way in assembling the emerging regional economic architecture. The existing FTAs between ASEAN and China, Japan, South Korea, India, Australia and New Zealand could eventually lead to the creation of an integrated market with a combined market population of more than three billion people, and a combined GDP of about US$19.78 trillion (based on 2011 figures). With the region accounting for more than half of the global market and about a third of global economic output, a successful RCEP would significantly boost global trade and investment.

There is currently much finger pointing taking place in India over the mess that is the state of the country’s infrastructure investment.Fresh investments are not forthcoming, and even existing projects face implementation issues. Is overall demand-growth slowdown responsible for the situation? Or does it have to do with financial constraints resulting from fragile global markets, risk-averse banks and high interest rates? Or are the government’s failures in policy-making, granting clearances and coordinating between its own departments also partly to blame?

There is currently much finger pointing taking place in India over the mess that is the state of the country’s infrastructure investment.Fresh investments are not forthcoming, and even existing projects face implementation issues. Is overall demand-growth slowdown responsible for the situation? Or does it have to do with financial constraints resulting from fragile global markets, risk-averse banks and high interest rates? Or are the government’s failures in policy-making, granting clearances and coordinating between its own departments also partly to blame?

The pattern of global manufacturing trade has changed substantially over the last two decades, with a rapid increase in the parts and components trade compared to other manufactured goods. This phenomenon reflects an increased intensity in global production networks. With technological development and innovations in telecommunications and transportation, it is possible for firms to fragment their production process into smaller segments in which components of production or assemblies can be relocated to different places, creating global production networks. Trade and investment liberalisation in many developing countries has facilitated this process.

The pattern of global manufacturing trade has changed substantially over the last two decades, with a rapid increase in the parts and components trade compared to other manufactured goods. This phenomenon reflects an increased intensity in global production networks. With technological development and innovations in telecommunications and transportation, it is possible for firms to fragment their production process into smaller segments in which components of production or assemblies can be relocated to different places, creating global production networks. Trade and investment liberalisation in many developing countries has facilitated this process.

In recent decades Southeast Asian countries have enjoyed simultaneously rapid economic growth and a significant expansion of the higher education sector. This is not a coincidence: higher education both contributes to and is caused by economic growth. And as demand for human capital grows in middle-income Asian countries, enrollments and graduations can be expected to increase in the short and medium term.

In recent decades Southeast Asian countries have enjoyed simultaneously rapid economic growth and a significant expansion of the higher education sector. This is not a coincidence: higher education both contributes to and is caused by economic growth. And as demand for human capital grows in middle-income Asian countries, enrollments and graduations can be expected to increase in the short and medium term.

With China’s economy slowing faster than expected, Beijing is considering a variety of stimulus measures. Some favour investment projects and others insist on easing monetary policies, while the cautious push for a consumption-driven approach. But such hopes are tempered by the much-publicised decline in the share of consumption, from 50 per cent to below 35 per cent of GDP over the past 15 years. This trend is considered the clearest sign that China’s growth process is unbalanced, with consumption repressed and investment overdone.

With China’s economy slowing faster than expected, Beijing is considering a variety of stimulus measures. Some favour investment projects and others insist on easing monetary policies, while the cautious push for a consumption-driven approach. But such hopes are tempered by the much-publicised decline in the share of consumption, from 50 per cent to below 35 per cent of GDP over the past 15 years. This trend is considered the clearest sign that China’s growth process is unbalanced, with consumption repressed and investment overdone.