Asian regionalism: How does it compare to Europe’s?
Author: Giovanni Capannelli, ADB, Manila
Among the six Asian leaders (or seven if you include Australia) who attended the London meeting of the Group of Twenty (G20) on April 2 was the chair of the Association of Southeast Asian Nations—the first time ASEAN had been accorded this recognition in such a high-profile international forum. It was a telling indication of the increased importance of regional cooperation in Asia.
Asia is not yet adopting a common approach to tackling the ongoing global crisis—although neither, to be fair, is the more established European Union (EU). But by helping to form a consensus among their members, Asia’s regional groupings could help bridge the gap between national policies and global action, enabling them to tackle the global crisis more effectively.
This essay compares Asian regionalism with Europe’s. It contrasts their differing approaches to regional cooperation and integration and draws lessons for how they could address the global crisis and other common challenges.