Chiba, 24 November 2023: The Economic Research Institute for ASEAN and East Asia (ERIA), in cooperation with the Institute of Developing Economies-Japan External Trade Organisation (IDE-JETRO), invited Research Institute Network (RIN) members to discuss the geopolitical risks and impact on ASEAN and East Asia on 24 November in Chiba, Japan, one day after the RIN Annual Meeting 2023.

Mayumi Murayama, IDE-JETRO Executive Vice President, spoke of the role of research institutions in shaping a more inclusive and sustainable future, highlighting the constraints faced by institutions operating in business as usual mode and stressed the need for collaborative efforts to overcome these challenges. Koji Hachiyama, ERIA Chief Operating Officer, stressed the collective responsibility of research institute representatives to unravel the complexities of geopolitical risks, offering insights to inform policies, guide decision-makers, and enhance regional resilience.

Yasuhiko Ota, ERIA Senior Communication Advisor, moderated the discussion and emphasised the session’s uniqueness in exploring a wider range of environmental changes which could have an impact on economies. He stressed the importance of the session in addressing the challenges faced by ASEAN and East Asia and welcomed the four discussants who provided their insights.

Professor Nobuhiro Aizawa, ERIA Research Fellow, painted a complex picture of ASEAN facing headwinds, touching upon issues of diplomatic success, leadership priorities, great power politics, and the emergence of a new developmentalism, while identifying hopeful trends within the region. Despite these challenges, he found hope in the young generation's focus on addressing disparities and the enduring economic trust among ASEAN members.

Professor Shiro Armstrong, Associate Professor at the Australian National University (ANU), underscored the entangled nature of economics, geopolitics, and national security. He spoke of ongoing work presented at RIN meetings, aiming to develop frameworks which integrate economics and security and address security challenges through economic lens. He also acknowledged ASEAN as a bright spot in the region, particularly its dependence on an open, rules-based multilateral system. He stressed the importance of expanding ASEAN-led initiatives and strengthening the broader multilateral system.

Ikumo Isono, ERIA Senior Economist, focused his presentation on the economic presence of the global south and its role in geopolitical tensions. He spoke of the challenges faced by countries aligning with specific geopolitical camps, accentuating the advantageous position of neutral countries, particularly within ASEAN. He suggested Japan closely analyse the economic cost of decoupling, respond strategically to supply chain restructuring, and focus on supporting the domestic market (reshoring) and transfer to allied countries (friend-shoring) from an economic security perspective. He also highlighted the need to improve economic relations with the Asia-Pacific region and enhance the business environment in ASEAN.

Michikazu Kojima, Director-General of the ERIA Support Office and Chief Senior Researcher of the IDE-JETRO Inter-disciplinary Studies Centre, underscored the significance of applying regulations tailored to the quality of recyclable waste and the pollution control capacity of recycling facilities. He suggested a strategic approach, allowing the import of core materials exclusively for remanufacturing within specified areas which aligns with the broader objective of dismantling trade barriers associated with remanufactured goods and cores, ultimately contributing to the promotion of sustainable economic practices within the ASEAN community.

Nguyen Anh Duong, Director of the Department for General Economic Issues and Integration Studies at the Central Institute for Economic Management (CIEM), highlighted new opportunities for ASEAN, distinguishing this from previous situations where compliance with existing standards was necessary. With the ongoing green transition, digital transformation, and circular economy discussions, he underscored the need for new standards, offering ASEAN a chance to be proactive in shaping these standards.

In his closing remarks, Professor Hidetoshi Nishimura, Supreme Advisor to the President of ERIA, acknowledged the significance of this discussion, attributing its materialisation to the strong commitment of ERIA President Professor Tetsuya Watanabe. He also underscored the resilience of ASEAN in the face of crises, viewing them as opportunities for growth. Looking ahead, he said the ASEAN post-2025 vision was crucial and advocated for the strengthening of the ASEAN Secretariat, acknowledging ASEAN's prominence as the fifth-largest economy globally.