Globalization: Role of Regional Initiatives

Takatoshi Kato

Further substantive moves in bilateral swap arrangements and effective surveillance would be welcome during ADB’s annual meeting in Honolulu, said Takatoshi Kato, Senior Advisor, Bank of Tokyo-Mitsubishi Ltd, and a participant in a seminar on globalization today.

Mr Kato said other constructive ideas that were worth looking into included the development of an intra-region capital market, the creation of a regional credit agency, or the establishment of a regional credit enhancement institution. He said it was of value for Asian economies to own a regional mechanism through which participating economies can pool their resiliency against the vulnerabilities inevitably generated out of the globalization process.

Review the Globalization seminar papers.