Examining the regional economic integration : an analysis of cross border trade among ASEAN, China, and India

Abstract

Regional economic integration has been studied since the late 20th century, when global markets became freer. ASEAN, China, and India are key players in the current political, economic, and infrastructural scene. These regions have had economic development, but globalization has brought geopolitical difficulties, regulatory hurdles, infrastructural issues, trade patterns, trade policies, environmental issues, and social issues. This extensive study examines the many factors affecting economic integration in various regions. Using quantitative gravity model with Panel Data analysis over time period of 1999 to 2023, and empirical literature studies to analyse trade flows, trade policies, and the role of international trade organization on regional economic integration. Trade statistics, FDI flows, economic indicators, literature reviews, case studies, and data analysis are used to understand the contextual elements affecting regional economic integration and crossborder trade. Engagement with stakeholders improves data accuracy and policy direction. Cross-border trade and important players' roles are examined to assess multi-regional integration and economic growth, as well as the obstacles and design an innovative complete policy for the coming economic size. Whether bilateral or multinational, free trade agreements strengthen long-term cooperation over competition. ASEAN, China, and India have great economic and strategic potential, according to this analysis. ASEAN's middle-class population is expected to quadruple to 630 million, whereas China and India represent 2.87 billion people. The region could become the fourth-largest economy by 2030 due to its strength. Thus, regional economic integration increases trade volume and reduces geopolitical tensions, promoting mutual understanding and advantageous trading patterns. The findings provide crucial insights for governments, companies, and researchers managing regional economic interconnectivity.