Economic Integration in East Asia and Europe: Lessons from a Comparative Analysis
The Singapore Economic Review (SER), 2010
Posted: 6 Jun 2010
Date Written: March 1, 2010
Abstract
This paper compares the economic integration processes of the European Union and the East Asian nations and comments on the possible reciprocal lessons, if any, that can be drawn to smooth the future paths of the two groups. The most relevant lessons on the EU side rely on strong institutionalization, structural policies, and the monetary union. Lessons from East Asia can be found in regional production networks, trade patterns, and the recent developments in financial cooperation. Both entities are presently facing difficult challenges to progress and growth.
Keywords: East Asia, European Union, regional integration, economic cooperation
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