In These New Times

A new paradigm for a post-imperial world

Posts Tagged ‘ASEAN’

Asian accord for mega FTA talks

Posted by seumasach on September 2, 2012


1st September, 2012

Not a single Indian journalist, it seems, bothered to cover the meeting of the trade ministers of the 10 ASEAN countries and six partners (China, Japan, South Korea, India, Australia and New Zealand) in Cambodia on Thursday. The Indian press corps instead headed westward — to Tehran, which is probably more sexy than Siem Reap.

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China’s ‘little dollar’ spreads its wings

Posted by seumasach on January 27, 2010

Reginald Smith

Asia Times

28th January, 2010

At the beginning of 2010, it is a time to reflect not just on the economic disintegration caused by the still ongoing global financial crisis, but to also see the beginnings of new institutional frameworks rising from the rubble.

The implementation of the China-ASEAN (Association of Southeast Asian Nations) free-trade pact, besides the obvious wins for both sides, will prove to be a vehicle for a large transformation of the currency landscape in East Asia, accelerating the prevalence of the yuan as a regionally accepted currency alongside local currencies and the US dollar.
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Asia establishes $120bn crisis fund

Posted by seumasach on May 4, 2009

The ministers tried to deflect speculation that the fund’s aim was to circumvent the International Monetary Fund (IMF) so countries would not be forced to make unpopular economic reforms, as happened in the late 1990s. Rajat Nag, managing director general of the ADB, denied this was “a substitute for the IMF”.

Happily, this denial lacks all credibility

Thirteen Asian countries have agreed to set up a $120bn (£80.5bn) crisis fund to boost liquidity and overcome the economic crisis.


3rd May, 2009

Finance ministers of the 10-member Association of Southeast Asian Nations (ASEAN), alongside China, Japan and South Korea, unveiled the deal in Indonesia, where they were attending the annual meeting of the Asian Development Bank (ADB). The scheme is known as the Chiang Mai Initiative, or CMIM.

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Why Asia stays calm in the storm

Posted by seumasach on October 29, 2008



Kishore Mahbubani


28th October, 2008

What does the Asian silence on the financial crisis really mean? Does it mean silent gloating, with a heavy dose of schadenfreude? Does it signify terror that Asian economies will also be blown away? Or does it reflect a sober calculation that calm and steady heads are required in such a storm? Amazingly, in the thousands of words spun in the incestuous western discourse on this crisis, little attention has been paid to Asian views, even though the calm and steady responses of China, India and Japan, the three anchor Asian economies, provide hope that there may be some pillars of stability in the swirling storm.

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