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Regional Integration in the Asia Pacific Issues and Prospects: Executive Summary and Synthesis

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The Asia Pacific is the world's most economically dynamic region. Most of its economies are growing persistently, at rates of between 3.5% and 10% p.a. The pace is such that East Asia (excluding Japan) now enjoys an average GDP per capita (in purchasing power parity terms) not far short of Western Europe's in 1950 (Angus Maddison, "World Development and Outlook 1820‐ 2030: A Quantitative Perspective", Revised Note for the Meeting of OECD Economics and Environment Directorates, 25 June 2004, Table 2, p. 5). On present trends, East Asia will reach Western Europe's 1990 GDP per capita in 30 years' time (Maddison). In line with such growth, the region's share of global exports has doubled over the past 25 years, and many regional businesses...
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Document Type: Review Article

Publication date: April 1, 2005

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