Challenges and implications of the economic integration in Asia-Pacific

Abstract

This paper analyzes the processes of economic integration that have emerged and continues emerging in Asia-Pacific, where two major trends are evident. On the one hand, multilateral processes that have led to the creation of various mechanisms for economic cooperation in the region, where the large number and social and economic diversity of its members has involved serious challenges and obstacles to achieve their goals. On the other hand, are emerging numerous economic integration agreements of regional, sub-regional and bilateral cooperation among the economies of the Asia-Pacific and of these with other regions of the world, all in response to the difficulty of reaching consensus in multilateral mechanisms to search for new opportunities in emerging economies and, ultimately, to the same economic globalization. However, while such economic integration agreements have provided a major boost to trade and economic growth of the countries in the region, they seem to be weakening the multilateral integration efforts in the region.