Recent Trends in Economic Integration in the Asia Pacific Region and Essay

Recent Trends in sparing Integration in the Asia peaceful Region and Their Impact on Economic maturation - Essay exerciseAsia has been one of the worlds economically promising continents. According to James Chan, during the Middle Ages, Asia was the most developed part of the world. (244) In Asia, you can find famous textiles, silverw atomic number 18s, spices, porcelains, silks. Today, however, the Asia Pacific contribution comprises developed, developing, and underdeveloped contact centre markets and as these markets progress, the demand for better customer service is expected to drive growth in this region. (Frost & Sullivan, 2005) Except for countries like USSR, Japan, Israel and other(a) parts of Southwest Asia that is rich of oil, most Asian countries are now part of the developing world. Nowadays, most people living in Asian countries are so close to the survival limits. Developing countries in the Asia-Pacific region are facing three challenges, namely reducing poverty, addressing milieual degradation and promoting regional cooperation, state Tadao Chino, President of the Asian Development Bank (ADB), at the opening ceremony of ADBs annual meeting (here) Friday. (Xinhuanet, May 2002)Poverty and unemployment practically started when all Asian countries experient urbanization. Through urbanization, residents of the countryside tend to flock into the cities to experience urban living where there are wonderful city lights, big buildings and amusement parks. This increased unemployment, congestion and miscellaneous forms of social disorganization.The rapid urbanization of Asia presents some very significant challenges. The sheer scale of urban growth, the massive infrastructure needs, the plight of the urban poor, and pollution of the environment all present massive challenges. (Myoung-Ho Shin, September 2005)These events had contributed to the economic trends of the Asia-Pacific region as well as provide a great impact on Asias Economic Development .AIMSto be able to identify the recent trends in Economic Integration in the Asia Pacific Regionto discuss their impact on Economic Developmentto discuss the future development of the regionASIA-PACIFICS RECENT TRENDS IN ECONOMIC INTEGRATIONThe purpose of economic integration is to get the regions cooperation in terms of financial, financial and fiscal areas, agriculture and industry, and other sectors. It is to prepare Asias regions in globalization. According to Mario Lamberte, the roles and modalities of regional economic cooperation and integration in Asia focuses in three broad areas, namely, trade and investment, monetary and financial integration, and infrastructure and associated software. Regional integration, on the other hand, is de facto integration of economies within a geographic region. It may be market-driven integration, which means, there is no explicit harmony or coordinated action among countries within a region to integrate their economies or policy-induced i ntegration, that is, one that results from regional cooperation. (Lamberte, Page 4)Economic Integration in Asia Pacific is the sense of unity and cooperation of all the countries involved in the region. Cited from the New Asia Forum, some countries of the region have large excess capacity in