The inaugural East Asian Summit (EAS), touted as groundbreaking, commenced on December 14 in Kuala Lumpur comprising 16 nations— the 10 ASEAN countries, China, Japan, India, Australia and New Zealand with Russian President Vladimir Putin making a special appearance. The EAS Declaration, like many issued before in the region, is wide-ranging: from political and security cooperation, infrastructure development, financial issues, further liberalisation of regional trade and investment, poverty eradication to fighting epidemics. Nonetheless, inter alia, three points need underscoring.
India and the East Asia Summit
The inaugural East Asian Summit (EAS), representing nearly 50 per cent of the world's population with 20 per cent of global trade, and comprising 16 nations that are on a dynamic path of economic development, is obviously a mega event. For India, it is yet another opening to increasingly align itself with this region and play a commensurate political and security role. There is no question that the centre of gravity is decisively moving to East Asia and developments in this region will offer great economic opportunities and pose serious challenges as well.