Chapter 1 Important Events of the Year and Their Impacts 1
1.1 The Impacts of Japan’s Earthquake and Radioactive Leakage on World Supply Chains 1
1.2 The Middle East Upheaval and Its Impact on the Asian Economies 6
1.3 The Debt Crisis in the US and Europe 10
Chapter 2 Foreign Trade Integration in Asia 25
2.1 Recent Trends in Asian Trade 25
2.2 Trends of Trade in Asia： Strong Intra-regional Flows 26
2.3 Trade Dependence among the TPP Members 30
2.4 New Directions for China’s Imports 34
2.5 Higher Interdependence among Asian Neighbors 45
Chapter 3 Tourism and Trade in Services 48
3.1 Features of Asian Tourism 48
3.2 Asian Tourism： Destinations and Sources 52
3.3 Liberalization of Services in the Asia-Pacific RTAs 57
Chapter 4 Financial Transformation and Development in Asia 66
4.1 Equity Market Synchronization 66
4.2 The Progress of the RMB toward an International Currency 73
Chapter 5 Factory Asia Phenomenon 77
5.1 Development of the Asian Production Network 77
5.2 The Evolving Role of Individual Economies and the Size of the Factory 80
5.3 Interdependence of Factory Asia 82
Appendix Chronological Dates of Economic Integration Agreements in Asia 85
REFERENCES 98