Asian economic integration challenged by anti-globalization sentiment
The anti-globalization sentiment that originated from the West continues to spread over the world, and is challenging Asian economic integration, a report released by the Boao Forum for Asia (BFA) said.
According to the ‘Progress of Asian Economic Integration Annual Report 2018’, a cautious attitude should be adopted to predict the future of Asia’s economic integration, Xinhua reported.
Although there were some good signs for Asia’s trade performance in 2017, globalization — the most important driver of Asia’s economic integration — faces unprecedented challenges, the report said.
With deteriorating economic growth and growing trade deficits in the United States and some members of the European Union (EU), the traditional model of Asia’s global value chain — where intermediate parts