East Asia Unites Economically to Boost Global Influence and Prosperity
The rise of regional trading agreements in East Asia is a response to global trends. Factors driving this regionalism include financial, economic, and political motivations. Countries in East Asia are coming together to enhance financial cooperation, promote economic integration, and increase their international political influence. The goal is to avoid losing out in the global competition for export markets and foreign investments. The ASEAN-China Free Trade Agreement is an example of this regional integration, with countries using models to analyze its effects. Ultimately, nations in East Asia are banding together to strengthen their position in the world economy.