Publication

This report examines the financial, monetary and trade trends shaping the Asia-Pacific region and what challenges they and developments such as China's creation of the Asian Infrastructure Investment Bank pose to the economic order in the region. In general, the authors contend that despite the rise of China, the fundamental operating principles and tools of the economic order in the Asia-Pacifc can persevere. This is because China, the US, Japan, South Korea, the ASEAN countries should be able to find common ground in this economic order, as long as it can become an inclusive and open rules-based system. They also argue that the US must be proactive in enabling this system to develop and provide recommendations on how to move forward on this goal.