Widely different income differences can accelerate a massive movement of people, jeopardizing national and regional unity. Thus, it is imperative to raise the living standard in the poorer countries and by doing so to reduce the income gap across nati...
Widely different income differences can accelerate a massive movement of people, jeopardizing national and regional unity. Thus, it is imperative to raise the living standard in the poorer countries and by doing so to reduce the income gap across nations and regions. Fiscal federalism, regional policy and regional development bank are all important part to foster regional solidarity. Given that the two formers presuppose already quite advanced integration, however, the establishment of new regional development bank might be the only possible alternative to successfully launch the Asian regionalism. It will help to nurtures cultural and political solidarity, which is so missing in the case of East Asia.