BEIJING (Xinhua): In the aftermath of the 1997 Asian financial crisis, the leaders of China, Japan and South Korea initiated their trilateral cooperation 20 years ago to overcome difficulties and plan for common development.
As the world economy is fogged by surging uncertainty, with elements of multilateralism and unilateralism locked in a bitter battle, a deepened China-Japan-South Korea cooperation will boost regional integration in Asia and provide the momentum and modality needed to reinvigorate multilateralism at the global level.
As key economic players in East Asia, they have also been major trading partners and investors with one another, with trilateral trade exceeding US$720bil last year. Second, in the face of profound changes brought about by the Fourth Industrial Revolution, Beijing, Tokyo and Seoul should tap into their collective manufacturing and innovation prowess, stepping up their cooperation in such new areas of technology as big data, artificial intelligence and 5G.
Given the development disparities among various countries in Asia, the three economic heavyweights, while working to promote their own development, should also carry out joint programmes that help boost the development of others in the region. Their joint efforts to promote connectivity through the Belt and Road Initiative could be a starting point.
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