Asia's Unique Regional Institutions Shape Future Economic Growth and Integration
Regional institutions in Asia have a unique design with consensus decision-making, limited delegation of authority, and exclusive membership rules. Unlike Europe and Latin America, Asian institutions do not link economics and security. The distinctiveness of Asian regional institutions is influenced by factors like heterogeneity, strategic rivalries, and openness to external influence. The main goal is to create a common market in Asia for economic growth and political survival, requiring new regional institutions.