Asian economies continue to be subject to new shocks: US monetary policy tightening, the adoption of negative-interest-rate policies by central banks all over the world, the slowdown of the People's Republic of China, and the sharp drop in oil and other commodity prices. All these highlight the vulnerability of the region to volatile trade and capital flows even as the global and Asian regional financial architecture evolves. This volume analyzes the vulnerabilities of Asian economies to external economic and financial shocks and assesses the performance of Asian regional institutions in financial surveillance and cooperation. It also evaluates ongoing reforms of the global financial architecture, including the International Monetary Fund (IMF), the Financial Stability Board, and reviews the experience of the "Troika" (European Commission, European Central Bank, and the IMF) in managing the European sovereign debt and banking crisis. Based on these, the book develops valuable recommendations to strengthen the Asian regional financial architecture and improve cooperation with global multilateral institutions.

East Asia is undergoing a remarkable transformation, but at the same time it is facing a growing number of traditional and nontraditional security challenges with the potential to destabilize the region. In recent years, there has been growing attention to ways to strengthen regional security cooperation at the government level but much less attention to what is happening outside of official circles. In fact, civil society organizations in the region have quietly been playing a greater role in responding to security threats, especially nontraditional security challenges. In "A Growing Force" the authors explore how these organizations are contributing in five areas--piracy, disaster relief, human trafficking, health, and climate change--in order to diagnose how they are helping and what can be done to make them more effective. Contributors include Gui Yongtao (Peking University), Yanzhong Huang (Council on Foreign Relations), Jun Honna (Ritsumeikan University, Japan), Yukie Osa (Association for Aid and Relief, Japan), Chung Suh-Yong (Korea University), and J.N. Mak (independent analyst, Malaysia).

This report analyzes how closer regional connectivity and economic integration between South Asia and Southeast Asia can benefit both regions, with a focus on the role played by infrastructure and public policies in facilitating this process. It examines major developments in South Asian–Southeast Asian trade and investment, economic cooperation, the role of economic corridors, and regional cooperation initiatives. In particular, it identifies significant opportunities for strengthening these integration efforts as a result of the recent opening up of Myanmar in political, economic, and financial terms. This is particularly the case for land-based transportation—highways and railroads—and energy trading. The report’s focus is on connectivity in a broad sense, covering both hardware and software, including investment in infrastructure, energy trading, trade facilitation, investment financing, and support for national and regional policies.

"This paper argues that a regional financial architecture needs to be firmly established in East Asia, outlines recent developments in financial cooperation in the region, and provides possible directions for the future". -- p. 1.

"Assesses how regional financial institutions can help developing countries, often at a disadvantage within the global financial framework, finance their investment needs, counteract the volatility of private capital flows, and make their voices heard"--Provided by publisher.