Services as a New Engine of Growth for ASEAN, the People’s Republic of China, and India

download Services as a New Engine of Growth for ASEAN, the People’s Republic of China, and India

of 57

Transcript of Services as a New Engine of Growth for ASEAN, the People’s Republic of China, and India

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    1/57

    GHL@ Si|j`ec ^g~f| ]f|`f}

    ]f|q`mf} g} g Efs Fec`ef iaC|isxb ai| G]FGE+ xbf ^fi~kf}\f~vlk`m ia Mb`eg+ geh @eh`g

    Lfe ]bf~bf|h gehCki|`g ^g}gh`kkg

    Ei% =80Og|mb 7

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    2/57

    Xbf Si|j`ec ^g~f| }f|`f} `} g miex`evgx`ie ia xbf ai|of|kp egofh H`}mv}}`ie ^g~f| }f|`f}: xbfevolf|`ec ia xbf ~g~f|} miex`evfh s`xbivx `exf||v~x`ie i| mbgecf% GHL@} si|j`ec ~g~f|}|fakfmx `e`x`gk `hfg} ie g xi~`m geh g|f ~i}xfh iek`ef ai| h`}mv}}`ie% GHL@ femiv|gcf} |fghf|} xi~i}x xbf`| mioofex} ie xbf og`e ~gcf ai| fgmb si|j`ec ~g~f| "c`qfe `e xbf m`xgx`ie lfkis)%]iof si|j`ec ~g~f|} ogp hfqfki~ `exi ixbf| ai|o} ia ~vlk`mgx`ie%

    ]vccf}xfh m`xgx`ie4

    ]bf~bf|h+ L% geh C% ^g}gh`kkg% 716>73%}f|q`mf}%efs%fec`ef%c|isxb%g}fge%~|m%`eh`g

    ^kfg}f miexgmx xbf gvxbi|"}) ai| `eai|ogx`ie glivx xb`} ~g~f|%

    Fog`k4 LfeNHfqfki~`ec/X|ghf%mio: c~g}gh`kkgNghl`%i|c

    Lfe ]bf~bf|h `} ~|`em`~gk ia Hfqfki~`ec X|ghf Mie}vkxgex} Kxh% Cki|`g ^g}gh`kkg `} g|f}fg|mb afkkis gx xbf G}`ge Hfqfki~ofex Lgej @e}x`xvxf "GHL@)%

    Xb`} `} g |fq`}fh qf|}`ie ia g lgmjc|iveh ~g~f| ~|f~g|fh ai| xbf G}`ge Hfqfki~ofexLgej "GHL)GHL@ }xvhp \ikf ia Jfp Fof|c`ec Fmieio`f}G]FGE+ xbf ^fi~kf}\f~vlk`m ia Mb`eg+ geh @eh`gai| g Lgkgemfh+ \f}`k`fex+ geh ]v}xg`eglkf G}`g%

    Xbf gvxbi|} g|f c|gxfavk xi L`}sg Egxb Lbgxxgmbg|pgp+ ^fxf| ^fx|`+ ge geiepoiv}|fq`fsf|+ geh ~g|x`m`~gex} gx GHL@ si|j}bi~} ai| ogep bfk~avk mioofex} geh}vccf}x`ie}+ g} sfkk g} xi Fdgt Cbge`+ ^glki Cixx|fx+ geh Geefo`f Ogf|xfe} ai|cfef|iv}kp }bg|`ec |f}fg|mb geh hgxg%

    Xbf q`fs} fr~|f}}fh `e xb`} ~g~f| g|f xbf q`fs} ia xbf gvxbi|} geh hi eix efmf}}g|`kp|fakfmx xbf q`fs} i| ~ik`m`f} ia GHL@+ xbf GHL+ `x} Lig|h ia H`|fmxi|}+ i| xbf ciqf|eofex}xbfp |f~|f}fex% GHL@ hif} eix cvg|gexff xbf gmmv|gmp ia xbf hgxg `emkvhfh `e xb`} ~g~f|geh gmmf~x} ei |f}~ie}`l`k`xp ai| gep mie}fwvfemf} ia xbf`| v}f% Xf|o`eikicp v}fh ogpeix efmf}}g|`kp lf mie}`}xfex s`xb GHL iaa`m`gk xf|o}%

    G}`ge Hfqfki~ofex Lgej @e}x`xvxfJg}vo`cg}fj` Lv`kh`ec 2A=/>/1>>2+ Dg~ge

    Xfk4 *27/=/=60=/66>>Agr4 *27/=/=60=/6637V\K4 sss%ghl`%i|cF/og`k4 `eaiNghl`%i|c

    7< G}`ge Hfqfki~ofex Lgej @e}x`xvxf

    mailto:[email protected]:[email protected]:[email protected]:[email protected]
  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    3/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    Gl}x|gmx

    Hfqfki~ofex ia g q`l|gex geh mio~fx`x`qf }f|q`mf} }fmxi| `} g jfp mbg|gmxf|`}x`m ia oihf|efmieio`f}% @e xbf hfqfki~fh si|kh+ }f|q`mf} a|fwvfexkp gmmivex ai| xsi/xb`|h} i| xb|ff/wvg|xf|}ia gkk fmieio`m gmx`q`xp% Xbf x|ge}`x`ie a|io gc|`mvkxv|f xb|ivcb ogevagmxv|`ec xi g }f|q`mf}fmieiop bg} lffe xbf bgkkog|j ia fmieio`m hfqfki~ofex ai| ogep mivex|`f}% @e k`ef s`xb xb`}

    x|feh+ sf }ff ogep fof|c`ec og|jfx} mv||fexkp si|j`ec bg|h xi }v~~i|x geh hfqfki~ }f|q`mf}`ehv}x|`f}+ geh xi ~vx `e ~kgmf xbf |fcvkgxi|p }x|vmxv|f} |fwv`|fh ai| oi|f `exfc|gxfh `exf|egx`iegk}f|q`mf} og|jfx}% Hi`ec }i `} k`jfkp xi ai|o ge `o~i|xgex ~g|x ia faai|x} xi gqi`h xbf }i/mgkkfho`hhkf `emiof x|g~+ g} `o~|iq`ec }f|q`mf} }fmxi| ~|ihvmx`q`xp `} jfp xi `eq`ci|gx`ec xbffmieiop geh }v~~i|x`ec xbf }v}xg`efh `eeiqgx`ie effhfh xi oiqf xi b`cb `emiof }xgxv}%

    Xbf G}}im`gx`ie ia ]ivxbfg}x G}`ge Egx`ie} "

    L|ighkp }~fgj`ec+ ofg}v|f} g`ofh gx |fhvm`ec lg||`f|} xi fex|psb`mb ogjf og|jfx} kf}}mio~fx`x`qfgeh kisf|`ec xbf mi}x} ia hi`ec lv}`ef}} ai| hiof}x`m geh ai|f`ce }f|q`mf~|iq`hf|} gk`jf mge bgqf ogdi| `o~gmx} xb|ivcbivx xbf fmieiop% G oi|f ~|ihvmx`qf }f|q`mf}}fmxi| `} eix iekp ciih efs} ai| xbi}f h`|fmxkp mieefmxfh s`xb `x xb|ivcb `eqf}xofex i|fo~kipofex+ lvx gk}i ai| ixbf| ~g|x} ia xbf fmieiop xbgx v}f }f|q`mf} `e~vx} `exfe}`qfkp% G} dv}xief frgo~kf+ c|isxb `e xbf }f|q`mf} }fmxi| `} ief ia xbf aivehgx`ie} ie sb`mb `exf|egx`iegkciih} ~|ihvmx`ie efxsi|j} g|f lv`kx+ }`emf `x `} `o~i}}`lkf xi oiqf `exf|ofh`gxf `e~vx} gm|i}}

    li|hf|} geh vehf|xgjf mio~kfr mii|h`egx`ie ia ~|ihvmx`ie ~|imf}}f} s`xbivx faa`m`fex og|jfx}ai| }f|q`mf} }vmb g} x|ge}~i|x+ xfkfmioove`mgx`ie}+ geh lv}`ef}} ~|imf}}f}%

    G]FGE) mivex|`f}+ gkiec s`xb xbf ^fi~kf}\f~vlk`m ia Mb`eg "^\M)+ geh @eh`g "xbf GM@ mivex|`f})+ g|f ei }x|gecf|} xi xb`} vehf|kp`ecx|feh% Gkxbivcb fr~f|`femf h`aaf|} c|fgxkp a|io ief mivex|p xi geixbf|+ xbf hgxg |fq`fsfh `e xb`}|f~i|x }x|ieckp }vccf}x xbgx ge `em|fg}`ec }f|q`mf} i|`fexgx`ie `} k`jfkp xi lf g jfp afgxv|f ia xbfGM@ fmieio`f} iqf| xbf ofh`vo/xf|o% ]f|q`mf} x|ghf goiec xbf GM@ mivex|`f} bg} lffec|is`ec gx g qf|p |g~`h |gxf iqf| |fmfex pfg|}+ hf}~`xf }xg|x`ec a|io g |fkgx`qfkp kis lg}fk`ef%Gkxbivcb hgxg g|f }mg|mf geh ov}x lf `exf|~|fxfh s`xb mgvx`ie+ ge gegkp}`} ia g~~k`fh }f|q`mf}}fmxi| ~ik`m`f} `e xbf |fc`ie }vccf}x} xbgx xbf|f `} ovmb ~ik`mpogjf|} mge hi xi `exfe}`ap xb`}~|imf}}+ geh `em|fg}f xbf ~gmf gx sb`mb xbf x|ge}ai|ogx`ie xi g }f|q`mf} fmieiop `} xgj`ec~kgmf% @ehffh+ }f|q`mf} ~ik`m`f} `e xbf GM@ mivex|`f} g|f cfef|gkkp wv`xf |f}x|`mx`qf lp si|kh}xgehg|h}+ fqfe xbivcb fr~f|`femf} h`aaf| c|fgxkp gm|i}} mivex|`f}%

    @e ghh`x`ie xi x|gh`x`iegk }f|q`mf} }fmxi|} }vmb g} a`egemf geh xfkfmioove`mgx`ie}sbf|f xbfcg`e} a|io |fai|o |fog`e ~ixfex`gkkp kg|cfxbf|f g|f gk}i g evolf| ia }ve|`}f }fmxi|} ia`exf|f}x xi xbf GM@ mivex|`f}% Bfgkxbmg|f `} ief frgo~kf+ s`xb mie}`hf|glkf ~ixfex`gk ai| x|ghfc|isxb xb|ivcb ivx}iv|m`ec ia gkk`fh bfgkxb avemx`ie}+ g} sfkk g} oiqfofex ia ~gx`fex}+oiqfofex ia ofh`mgk ~f|}ieefk+ geh ai|f`ce `eqf}xofex `e bi}~`xgk} geh ixbf| bfgkxb mg|f~|iq`hf|}% Lv}`ef}} ~|imf}} ivx}iv|m`ec bg} gk|fghp lfmiof ge `o~i|xgex fr~i|x fg|ef| `e|fc`iegk fmieio`f} }vmb g} @eh`g geh xbf ^b`k`~~`ef}% Xbf|f `} mkfg| }mi~f ai| ~ik`mpogjf|} xi}v~~i|x fr~ge}`ie ia xb`} j`eh ia x|ghf `e xbf avxv|f%

    \fc`iegk `exfc|gx`ie mge ~|iq`hf g v}favk `o~fxv} ai| miex`evfh |fai|o ia }f|q`mf} }fmxi|

    ~ik`m`f}+ xbf|flp ~|ioix`ec mio~fx`x`qfef}} oi|f l|ighkp% ^|`i|`x`f} ai| xbf G]FGE mivex|`f}`emkvhf fe}v|`ec ie xbf c|iveh `o~kfofexgx`ie ia xbf G]FGE Fmieio`m Mioove`xp Lkvf~|`exg} `x |fkgxf} xi }f|q`mf} og|jfx}% Xbf }gof `} x|vf ia xbf G]FGE/^\M X|ghf `e ]f|q`mf}Gc|ffofex+ fqfe xbivcb iekp g afs mivex|`f} bgqf oghf }vl}xgex`gkkp }x|iecf| mioo`xofex}xbge vehf| xbf Cfef|gk Gc|ffofex ie X|ghf `e ]f|q`mf} "CGX])% Miemkv}`ie ia g }f|q`mf}gc|ffofex s`xb @eh`g mivkh ~|iq`hf ge ghh`x`iegk }~v| xi xbf gk|fghp |g~`hkp c|is`ec }f|q`mf}x|ghf lfxsffe G]FGE geh @eh`g%

    DFK Mkg}}`a`mgx`ie4 I88+ W62+ W61+ I7>+ I6=+ W

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    4/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    Miexfex}

    7% @ex|ihvmx`ie %%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% =

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    5/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    =

    7% @EX\IHVMX@IE

    Hfqfki~ofex ia g q`l|gex geh mio~fx`x`qf }f|q`mf} }fmxi| `} g jfp mbg|gmxf|`}x`m ia oihf|efmieio`f}% @e xbf hfqfki~fh si|kh+ }f|q`mf} a|fwvfexkp gmmivex ai| xsi/xb`|h} i| xb|ff/wvg|xf|}ia gkk fmieio`m gmx`q`xp% Xbf x|ge}`x`ie a|io gc|`mvkxv|f xb|ivcb ogevagmxv|`ec xi g }f|q`mf}fmieiop bg} lffe xbf bgkkog|j ia fmieio`m hfqfki~ofex ai| ogep mivex|`f}% @e k`ef s`xb xb`}x|feh+ sf }ff ogep fof|c`ec og|jfx} mv||fexkp si|j`ec bg|h xi }v~~i|x geh hfqfki~ }f|q`mf}`ehv}x|`f}+ geh xi ~vx `e ~kgmf xbf |fcvkgxi|p }x|vmxv|f} |fwv`|fh ai| oi|f `exfc|gxfh `exf|egx`iegk}f|q`mf} og|jfx}% Xbf G}}im`gx`ie ia ]ivxbfg}x G}`ge Egx`ie} "

    Gcg`e}x xbgx lgmjc|iveh+ xbf ~v|~i}f ia xb`} |f~i|x `} xsiaikh% A`|}x+ sf g`o xi ~|f}fex gmio~feh`vo ia |fkfqgex hgxg ie xbf }xgxf ia xbf }f|q`mf} }fmxi| `e xbf GM@ mivex|`f}+ aimv}`ec

    ie `x} miex|`lvx`ie xi iqf|gkk fmieio`m gmx`q`xp+ fo~kipofex+ geh c|isxb% Xi hi xb`}+ sf |fkpbfgq`kp ie }xgehg|h `exf|egx`iegk }iv|mf}+ g} sfkk g} egx`iegk }xgx`}x`m} `e }iof mg}f}% ]fmieh+sf frgo`ef xi xbf frxfex ~i}}`lkfc`qfe hgxg |f}x|`mx`ie}xbf }f|q`mf} ~ik`mp feq`|ieofex `exbf GM@ mivex|`f}+ aimv}`ec ie `x} `o~k`mgx`ie} ai| |fc`iegk geh `exf|egx`iegk `exfc|gx`ie ia}f|q`mf} og|jfx}% Lp geh kg|cf+ sf a`eh xbgx gkxbivcb xbf }f|q`mf} }fmxi| bg} lffe c|is`ec|g~`hkp `e ogep ia xbf GM@ mivex|`f}geh miex|`lvx`ec }vl}xgex`gkkp xi iqf|gkk fmieio`m c|isxbgeh hfqfki~ofex~ik`mp }fxx`ec} `e xbf |fc`ie g|f+ ie gqf|gcf+ wv`xf |f}x|`mx`qf lp si|kh}xgehg|h}% Xbf|f `} xbv} ovmb xbgx ~ik`mpogjf|} mge hi xi `exfe}`ap xbf x|feh} sf ivxk`ef `e xb`}|f~i|x+ `emkvh`ec xb|ivcb fr`}x`ec geh ~kgeefh |fc`iegk `exfc|gx`ie `e`x`gx`qf}%

    G]FGE) mivex|`f}+ gkiec s`xbxbf ^\M geh @eh`g "xbf GM@ mivex|`f})+ g|f ei }x|gecf|} xi xb`} x|feh% Gkxbivcb fr~f|`femfh`aaf|} c|fgxkp a|io ief mivex|p xi geixbf|+ xbf hgxg |fq`fsfh `e xb`} |f~i|x }x|ieckp }vccf}x xbgxge `em|fg}`ec }f|q`mf} i|`fexgx`ie `} k`jfkp xi lf g jfp afgxv|f ia xbf GM@ fmieio`f} iqf| xbfofh`vo/xf|o%

    Xbf |f~i|x ~|imffh} g} aikkis}% @e xbf efrx }fmx`ie+ sf ~|iq`hf ge `e`x`gk iqf|q`fs ia xbf sgp} `esb`mb }f|q`mf} }fmxi| hfqfki~ofex `} k`ejfh xi l|ighf| cigk} }vmb g} fmieio`m c|isxb gehfo~kipofex m|fgx`ie% Sf h`}mv}} xbf fmieio`m ofmbge`}o} lfb`eh xbf}f k`ej}% @e ]fmx`ie =+

    sf ~|f}fex oi|f hfxg`kfh hgxg ie xbf }f|q`mf} }fmxi| `e xbf GM@ mivex|`f}+ aimv}`ec iefof|c`ec x|feh} `e xbgx g|fg% ]fmx`ie 8 ~|iq`hf} g cfef|gk h`}mv}}`ie ia }f|q`mf} }fmxi| ~ik`m`f}`e xbf GM@ mivex|`f}+ aimv}`ec ie xbf `exf|egx`iegk "x|ghf/|fkgxfh) h`ofe}`ie% Xbfe `e ]fmx`ie 6+sf aimv} xbf h`}mv}}`ie `e oi|f hfxg`k ie ~g|x`mvkg| }f|q`mf} }vl/}fmxi|} xbgx g|f k`jfkp xi ~kgpge `o~i|xgex |ikf `e xbf |fc`iegk }f|q`mf} feq`|ieofex ci`ec ai|sg|h% ]fmx`ie 1 miemkvhf}%

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    6/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    8

    A`cv|f 74 ^f| Mg~`xg @emiof `e ^^^ xf|o} q}% ]f|q`mf} g} g ^f|mfexgcf ia CH^+ >0

    ]iv|mf4 Si|kh Hfqfki~ofex @eh`mgxi|}% Ief ivxk`f| "Fwvgxi|`gk Cv`efg) bg} lffe h|i~~fh a|io xbf }go~kf%

    Ia miv|}f+ xbf `}}vf ia ~|ihvmx`q`xp h`aaf|fex`gk} lfxsffe }f|q`mf} geh ogevagmxv|`ec |fog`e}`o~i|xgex "}ff av|xbf| lfkis)% @e }iof mivex|`f}+ }vmb g} @eh`g+ xbf }f|q`mf} }fmxi| bg} lffefr~f|`fem`ec ag}xf| ~|ihvmx`q`xp c|isxb xbge ogevagmxv|`ec+ lvx xbf |fqf|}f `} x|vf `e ixbf|mivex|`f}+ }vmb g} xbf ^\M% @x `} xbf|fai|f k`jfkp xbgx xbf iqf|gkk c|isxb `o~gmx ia }b`ax`ec xi g}f|q`mf fmieiop hf~feh} }`ce`a`mgexkp ie xbf }fmxi|gk mio~i}`x`ie ia }f|q`mf} qgkvf ghhfh gehfo~kipofex% ]b`ax`ec `exi gmx`q`x`f} xbgx }v~~i|x `eeiqgx`ie}vmb g} fec`eff|`ec }f|q`mf}+|f}fg|mb }f|q`mf}+ geh fhvmgx`ie }f|q`mf}mge mkfg|kp bfk~ }v~~i|x xbf }fka/}v}xg`e`ec ~|imf}}xbgx `} gx xbf mi|f ia xbf o`hhkf xi b`cb/`emiof x|ge}`x`ie ia mivex|`f} k`jf xbf \f~vlk`m ia Ji|fg%Bisfqf|+ g }b`ax `exi kf}} ~|ihvmx`qf }f|q`mf} }fmxi|} mivkh lf g}}im`gxfh s`xb kf}} q`ci|iv}iqf|gkk c|isxb% Xbf o`r `} xbf|fai|f `o~i|xgex+ geh sf h`}mv}} `e av|xbf| hfxg`k lfkis xbf`eh`q`hvgk }fmxi|} xbgx o`cbx lf ia `exf|f}x xi xbf GM@ mivex|`f}%

    @e ghh`x`ie+ xbf }f|q`mf} }fmxi| }bivkh lf }ffe g} ge `o~i|xgex ~g|x ia xbf iqf|gkk egx`iegkmio~fx`x`qfef}} gcfehg lfmgv}f `x bg} }x|iec k`ejgcf} s`xb xbf |f}x ia xbf fmieiop% @ehffh+xbf c|isxb gcfehg oi|f l|ighkp bg} g kix xi hi s`xb }f|q`mf}+ sb`mb ~kgp g m|vm`gk |ikf `ehfqfki~`ec bvoge mg~`xgk xb|ivcb fhvmgx`ie+ ai| frgo~kf% Xbf|f `} mieq`em`ec ogm|ifmieio`mfq`hfemf xbgx }x|iecf| }f|q`mf} }fmxi| ~f|ai|ogemf ofge} ag}xf| fmieio`m c|isxb "f%c%+Bifjoge geh F}mbfelgmb >6: geh Ogxxii fx gk% >1)% Oi|fiqf|+ lgmjlief }fmxi|} }vmb g}a`egemf+ xfkfmioove`mgx`ie}+ geh x|ge}~i|x ogjf `x ~i}}`lkf ai| g s`hf |gecf ia a`|o} xi hilv}`ef}}+ geh xi lf mio~fx`x`qf `e `exf|egx`iegk og|jfx} "f%c%+ G|eikh fx gk% >2)% Ai| frgo~kf+lfxxf| kic`}x`m} }f|q`mf} bgqf lffe }bise xi lf }x|ieckp mi||fkgxfh s`xb x|ghf ivxmiof} `eciih} }fmxi|}+ geh `e ~g|x`mvkg| ~g|x} geh mio~iefex} x|ghf xbgx xgjf} ~kgmf s`xb`e `exf|egx`iegkefxsi|j} "G|q`} fx gk% 7>: ]g}kgq}jp geh ]bf~bf|h+ Ai|xbmio`ec)% Oi|f l|ighkp+ G|eikh fx gk%

    "7>) a`eh xbgx `o~|iqfofex} xi }f|q`mf} ~ik`m`f} `e @eh`gmiqf|`ec lgej`ec+xfkfmioove`mgx`ie}+ `e}v|gemf+ geh x|ge}~i|xbgqf lffe ge `o~i|xgex }iv|mf ia ~|ihvmx`q`xpcg`e} `e ogevagmxv|`ec% Xb|ivcb xbf}f j`eh} ia |fkgx`ie}b`~}+ g sfkk/hfqfki~fh }f|q`mf} }fmxi|mge avfk c|isxb eix iekp h`|fmxkp+ lvx gk}i `eh`|fmxkp xb|ivcb }~`kkiqf|} xi ixbf| }fmxi|}%

    Miex|g|p xi |fmf`qfh s`}hio `e }iof m`|mkf}+ xbf }f|q`mf} }fmxi| mge lf g }`ce`a`mgex }iv|mf ia~|ihvmx`q`xp cg`e} `e `x} ise |`cbx% Ag| a|io lf`ec k`o`xfh xi kis ~|ihvmx`q`xp+ kis ~ixfex`gkgmx`q`x`f}+ xbf }f|q`mf} }fmxi| eis `emkvhf} g |gecf ia immv~gx`ie} xbgx ogjf g }vl}xgex`gkmiex|`lvx`ie xi iqf|gkk qgkvf ghhfh ~f| si|jf|% Gkxbivcb xbf kfqfk ia qgkvf ghhfh ~f| si|jf| `}}x`kk cfef|gkkp kisf| `e }f|q`mf} xbge `e ogevagmxv|`ec "Xglkf 7)+ xbf|f `} }ik`h fq`hfemf a|io

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    7/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    6

    g|iveh xbf |fc`ie xbgx c|isxb `e }f|q`mf} }fmxi| qgkvf ghhfh `} xgj`ec ~kgmf gx g |g~`h ~gmf+ geh`e }iof mg}f} `} ag}xf| xbge `e xbf `ehv}x|`gk }fmxi|+ gkxbivcb xb`} ivxmiof qg|`f} }vl}xgex`gkkpgm|i}} mivex|`f}% @e @eh`g+ ai| frgo~kf+ c|isxb ia ivx~vx ~f| si|jf| geh xixgk agmxi| ~|ihvmx`q`xp`e }f|q`mf} bgqf lffe }vl}xgex`gkkp ag}xf| xbge `e ogevagmxv|`ec `e |fmfex hfmghf} "Xglkf 3)

    Gc|`mvkxv|f @ehv}x|p ]f|q`mf}

    @ehief}`g (336%63 (6+%=7%3> (6+21+ gqf|gcf geevgk ~f|mfexgcf mbgecfGc|`mvkxv|f @ehv}x|p ]f|q`mf}

    700>>>

    >>>1

    700>>>

    >>>1

    700>>>

    >>>1

    @eh`gIvx~vx ~f|

    si|jf|7%= 7%8 =%= %3 >%0 >%1 7%1 =%7 7%0^\MIvx~vx ~f|

    si|jf|8%1 8%< 7>%< 7>%8 8%3 1%>

    XA^ 7%2 2) geh Li}si|xb geh Ogf|xfe} "7>)%

    A`cv|f >>3 "&)

    ]iv|mf4 Si|kh Hfqfki~ofex @eh`mgxi|}%

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    8/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    1

    X|ghf/|fkgxfh ~ik`m`f} g|f ge `o~i|xgex fkfofex ia ge iqf|gkk gcfehg ia lii}x`ec }f|q`mf} }fmxi|~|ihvmx`q`xp geh mio~fx`x`qfef}}% \fmfex |f}fg|mb }bis}+ ai| frgo~kf+ xbgx }f|q`mf} }fmxi|}xbgx g|f oi|f i~fe xi `exf|egx`iegk mio~fx`x`ie xfeh xi lf oi|f ~|ihvmx`qf+ geh fr~f|`femfag}xf| ~|ihvmx`q`xp c|isxb "O`|ivhix fx gk% 7>)% Bisfqf|+ ai| xbf}f faafmx} xi lfmiof |fgk`xp+ `x`} efmf}}g|p xi bgqf `e ~kgmf sfkk/avemx`ie`ec kgli| geh mg~`xgk og|jfx} }i g} xi agm`k`xgxf xbfoiqfofex ia |f}iv|mf} xisg|h} oi|f ~|ihvmx`qf a`|o}% Xbf }gof }xvhp gk}i ~|ihvmf} }iof`e`x`gk fq`hfemf }vccf}x`ec xbgx |fc`iegk k`lf|gk`tgx`ie ia }f|q`mf} og|jfx} `} gmxvgkkp g}}im`gxfh

    s`xb kisf| x|ghf mi}x} q`}//q`} xbf si|kh g} g sbikf: xbgx `}+ |fc`iegk `exfc|gx`ie ia }f|q`mf}og|jfx} g~~fg|} xi lf kf}} h`}m|`o`egxi|p xbge `e ciih}+ geh xbv} bg} c|fgxf| ~ixfex`gk xi gmxg} g lv`kh`ec lkimj xisg|h} ovkx`kgxf|gk k`lf|gk`tgx`ie |gxbf| xbge g }xvolk`ec lkimj%

    Xbf|f `} gk}i frxfe}`qf fq`hfemf }vccf}x`ec xbgx k`lf|gk`tgx`ie ia x|ghf `e }f|q`mf} mge bgqf}~`kkiqf| faafmx} xi ixbf| ~g|x} ia xbf fmieiop+ ~g|x`mvkg|kp ogevagmxv|`ec% Ai| frgo~kf+ Lkphfgeh ]`epgq}jgpg ">3) a`eh xbgx+ ie gqf|gcf+ g 7>& `em|fg}f `e }f|q`mf} x|ghf `} g}}im`gxfhs`xb g 1& `em|fg}f `e ciih} x|ghf% Xbfp a`eh xbgx xbf }x|iecf}x cg`e} ai| ogevagmxv|`ec fr~i|x}miof a|io `o~|iqfh faa`m`femp `e x|ge}~i|x geh mioove`mgx`ie }f|q`mf}% Oi|fiqf|+ xbf CGX]oihfk ia x|ghf k`lf|gk`tgx`ie `e }f|q`mf} `emkvhf} }f|q`mf} ai|f`ce h`|fmx `eqf}xofex "AH@) s`xb`e`x} gol`x+ sb`mb ofge} xbgx xbf }x|iec ~i}`x`qf }~`kkiqf|} a|io ai|f`ce `eqf}xofex }bivkh gk}i lfxgjfe `exi gmmivex "f%c%+ G|eikh geh Dgqi|m`j >6)% @e ghh`x`ie xi xb`} qg|`fxp ia ~i}`x`qffmieio`m `o~gmx}+ Li|mbf|x geh Ogxxii ">0) }bis xbgx x|ghf `e }f|q`mf} xfeh} xi lf oi|f|f}`k`fex xi fmieio`m m|`}f} xbge x|ghf `e ciih}%

    Xbf gqg`kglkf wvgex`xgx`qf fq`hfemf }vccf}x} xbgx ~ik`mp |fai|o} `e xbf }f|q`mf} }fmxi| mge bgqfogdi| fmieio`m `o~gmx}% Si|kh Lgej ">1) a`eh xbgx xbf cg`e} a|io ckilgk x|ghfk`lf|gk`tgx`ie mge lf lii}xfh lp glivx 2>& `a }f|q`mf} g|f `emkvhfh `e xbf |fai|o ~gmjgcf%V}`ec h`aaf|fex hgxg+ A|gemi`} fx gk% ">6) a`eh xbgx g 6>& |fhvmx`ie `e }f|q`mf} |gxf} ia~|ixfmx`ie ~|ihvmf} `emiof cg`e} gx kfg}x fwv`qgkfex xi xbi}f a|io fk`o`egx`ie ia xg|`aa} gaafmx`ecogevagmxv|fh ciih}%

    Lv}`ef}} ~|imf}} iaa}bi|`ec "L^I) `} ief xp~f ia }f|q`mf} x|ghf xbgx `} ge `em|fg}`eckp

    `o~i|xgex afgxv|f ia xbf si|kh fmieiopgeh xbf GM@ |fc`ie `e ~g|x`mvkg|geh ief sb`mb bg} gevolf| ia ~i}`x`qf fmieio`m faafmx}% Ai| `e}xgemf+ Go`x` geh Sf` ">1) }bis xbgx }f|q`mf}iaa}bi|`ec gmmivexfh ai| 77& ia V] ~|ihvmx`q`xp c|isxb `e ogevagmxv|`ec lfxsffe 700< geh>>g~~|ir`ogxfkp hivlkf xbf `o~gmx ia iaa}bi|`ec ogxf|`gk `e~vx}% Fqfe ie xbf fo~kipofex}`hf+ B`dtfe fx gk% ">3) }bis xbgx `o~i|xf|} ia `exf|ofh`gxf }f|q`mf}`%f%+ xbi}f xbgxiaa}bi|fhi eix xfeh xi fr~f|`femf c|fgxf| dil ki}}f} i| si|jf| xv|eiqf|% @ehffh+ xbfp xfeh xifr~f|`femf ag}xf| fo~kipofex c|isxb xbge a`|o} xbgx hi eix iaa}bi|f% ]`o`kg|kp+ Go`x` geh Sf`">6) a`eh xbgx }fmxi|/kfqfk fo~kipofex `e xbf Ve`xfh J`echio "VJ) bg} eix lffe gaafmxfh lpiaa}bi|`ec% M|`ei ">3)+ ie xbf ixbf| bgeh+ a`eh} xbgx xbf fo~kipofex faafmx} ia iaa}bi|`ec h`aaf|lp immv~gx`ie4 iaa}bi|`ec |g`}f} fo~kipofex `e b`cb/}j`kk immv~gx`ie}+ lvx kisf|} `x goiec kis/geh ofh`vo/}j`kkfh ief}% S`xb`e }j`kk c|iv~}+ iaa}bi|`ec xfeh} xi lfefa`x |fkgx`qfkp eie/x|ghglkfimmv~gx`ie}+ lvx ~fegk`tf fg}`kp x|ghglkf ief}% Ie lgkgemf+ bisfqf|+ xbf fq`hfemf xfeh} xi

    }vccf}x xbgx xbf iqf|gkk fmieio`m faafmx} ia }f|q`mf} iaa}bi|`ec g|f ~i}`x`qf ai| lixb xbf }feh`ecgeh |fmf`q`ec fmieio`f}%

    @e ghh`x`ie xi xbf sfgkxb ia wvgex`xgx`qf fq`hfemf }v~~i|x`ec g k`ej lfxsffe hfqfki~ofex ia xbf}f|q`mf} }fmxi| geh ~i}`x`qf fmieio`m ivxmiof}+ xbf|f `} gk}i }iof fof|c`ec fq`hfemf ia`o~i|xgex k`ej} lfxsffe xbf }f|q`mf} }fmxi| geh g l|ighf| miemf~x`ie ia c|isxb+ `emkvh`ecbvoge hfqfki~ofex% Bvoge }f|q`mf} }vmb g} bfgkxb geh fhvmgx`ie g|f ge `o~i|xgex ~g|x ia xbfiqf|gkk }f|q`mf} fmieiop+ geh xbf`| hfqfki~ofex mge h`|fmxkp gaafmx `o~i|xgex bvogehfqfki~ofex ivxmiof} geh `o~|iqf xbf k`qf} ia ~ii| ~fi~kf+ `emkvh`ec `e xbf GM@ mivex|`f}%

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    9/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    3

    ]bf~bf|h geh ^g}gh`kkg "77) ~|f}fex }iof ~|fk`o`eg|p wvgex`xgx`qf fq`hfemf ie xbf k`ej}lfxsffe }f|q`mf} geh bvoge hfqfki~ofex% Ie xbf ief bgeh+ xbfp a`eh xbgx oi|f |f}x|`mx`qf~ik`m`f} `e g|fg} }vmb g} fhvmgx`ie g|f h`|fmxkp g}}im`gxfh s`xb si|}f bvoge hfqfki~ofexivxmiof}+ }vmb g} kisf| }mbiik`ec |gxf}% Xbf `o~k`mgx`ie `} xbgx xbf faa`m`femp cg`e} xbgx miofa|io kf}} |f}x|`mx`qf ~ik`m`f} mge x|ge}kgxf h`|fmxkp `exi `o~|iqfh bvoge hfqfki~ofex% Oi|fiqf|+xbf gvxbi|} g|cvf xbgx mf|xg`e }f|q`mf} g|f `o~i|xgex `e~vx} `exi xbf ~|iq`}`ie ia ixbf| ciih}geh }f|q`mf} xbgx g|f `o~i|xgex ai| bvoge hfqfki~ofex% Ai| frgo~kf+ x|ge}~i|x geh kic`}x`m}

    }f|q`mf} ogjf `x ~i}}`lkf xi oiqf ofh`m`ef}+ qgmm`ef}+ geh ixbf| bfgkxb/|fkgxfh ~|ihvmx} xi~ii| ~fi~kf `e |v|gk g|fg}+ geh xi hi }i gx g |fg}ieglkf mi}x% @e k`ef s`xb xb`} `exv`x`ie+ xbf hgxg`ehffh }bis xbgx mivex|`f} s`xb kf}} |f}x|`mx`qf ~ik`m`f} `e xbf h`}x|`lvx`ie }fmxi| xfeh xi bgqfb`cbf| |gxf} ia `oove`tgx`ie+ fqfe gaxf| miex|ikk`ec ai| ~f| mg~`xg `emiof% Gkxbivcb oi|f|f}fg|mb v}`ec efs hgxg `} effhfh xi miea`|o xbf}f `e`x`gk |f}vkx}+ xbf cfef|gk `o~k`mgx`ie `}mkfg|4 `o~|iq`ec xbf }f|q`mf} ~ik`mp feq`|ieofex `} eix iekp ciih ai| c|isxb `e g eg||isfmieio`m }fe}f+ lvx mge gk}i l|`ec `o~i|xgex lfefa`x} xi xbf l|ighf| hfqfki~ofex gcfehg%

    =% X\FEH] @E ]F\Q@MF] ]FMXI\ HFQFKI^OFEX @E XBFGM@ MIVEX\@F]

    Xb`} }fmx`ie |fq`fs} |fmfex hfqfki~ofex} `e xbf }f|q`mf} }fmxi| `e xbf GM@ mivex|`f}% Sf a`|}xmie}`hf| qgkvf ghhfh geh xbf ~|i~i|x`ie ia CH^ xbgx `} gmmivexfh ai| lp }f|q`mf}% Sf xbfeoiqf xi g mie}`hf|gx`ie ia fo~kipofex `e xbf }f|q`mf} }fmxi|% Xbf kg}x xsi ~g|x} ia xb`} }fmx`iehfgk s`xb `exf|egx`iegk x|ghf `e }f|q`mf} `e xbf GM@ |fc`ie+ geh s`xb xbf }~fm`gk mg}f ia }f|q`mf}geh `exf|egx`iegk ~|ihvmx`ie efxsi|j}%

    =%7 ]f|q`mf} ]fmxi| Qgkvf Ghhfh

    Iqf| xbf kg}x afs hfmghf}+ xbf|f bg} lffe g mkfg| x|feh xisg|h} c|isxb ia xbf }f|q`mf} }fmxi| `exbf GM@ mivex|`f}+ geh sf fr~fmx xb`} hpego`m xi miex`evf `e xbf ofh`vo xf|o% Ie gqf|gcf+ xbf~|i~i|x`ie ia c|i}} hiof}x`m ~|ihvmx "CH^) gmmivexfh ai| lp }f|q`mf} |i}f a|io =3& `e 702> xi86& `e >3% Ia miv|}f+ xbf|f `} }iof bfxf|icfef`xp gm|i}} mivex|p c|iv~} "A`cv|f =)% Ai|

    frgo~kf+ xbf }f|q`mf} }fmxi| `} eix`mfglkp kg|cf| `e @eh`g xbge `e xbf ^\M i|+ ie gqf|gcf+ `eG]FGE% @x eis gmmivex} ai| oi|f xbge bgka ia gkk fmieio`m gmx`q`xp% Xbf }bg|f} ia }f|q`mf} `eCH^ ai| xbf ^\M geh G]FGE "}`o~kf gqf|gcf) g|f g~~|ir`ogxfkp mio~g|glkf+ geh goivex xioi|f xbge 8>& lg}fh ie xbf kgxf}x gqg`kglkf hgxg%

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    10/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    2

    A`cv|f =4 ]f|q`mf} Qgkvf Ghhfh g} g ^f|mfexgcf ia CH^+ GM@ Mivex|`f}+ >>>0

    ]iv|mf4 Si|kh Hfqfki~ofex @eh`mgxi|}%

    @x `} `o~i|xgex xi lf mkfg|+ bisfqf|+ xbgx xbf sb`kf }f|q`mf} }fmxi| c|isxb `} g ag`|kp cfef|gk~bfeiofeie goiec xbf GM@ mivex|`f}+ `eh`q`hvgk fr~f|`femf} h`aaf| c|fgxkp% A`cv|f 8 }bis} xbfl|fgjhise ia CH^ lp gmx`q`xp xp~f ai| gkk GM@ mivex|`f} ai| sb`mb hgxg g|f gqg`kglkf `e >3 "xbf|fmfex pfg| xbgx c`qf} xbf lf}x hgxg miqf|gcf)% Mie}`}xfex s`xb xbf m|i}}/mivex|p fq`hfemfh`}mv}}fh gliqf+ xbf oi}x hfqfki~fh fmieiop `e xbf |fc`ie+ ]`ecg~i|f+ bg} g }vl}xgex`gkkpkg|cf| }f|q`mf} }fmxi| xbge xbf ixbf| mivex|`f}4 `x gmmivexfh ai| iqf| xsi/xb`|h} ia CH^ `e >3+g a`cv|f sb`mb `} `e k`ef s`xb fr~f|`femf `e xbf IFMH% @e L|vef` Hg|v}}gkgo+ lp miex|g}x+ xbf~|i~i|x`ie ia }f|q`mf} `e CH^ `} iekp g|iveh bgka g} kg|cf% @exf|f}x`eckp+ xbf }f|q`mf} }fmxi| `emivex|`f} }vmb g} xbf ^\M geh @ehief}`g sg} }x`kk |fkgx`qfkp }ogkk g} ia >3+ gehg~~|ir`ogxfkp ie g ~g| s`xb ovmb ~ii|f| fmieio`f} }vmb g} Kgi ^H\ geh Q`fx Ego%

    A`cv|f 84 L|fgjhise ia CH^ lp Gmx`q`xp Xp~f+ >3

    ]iv|mf4 Si|kh Hfqfki~ofex @eh`mgxi|}%

    Hf}~`xf xb`} |gecf ia fr~f|`femf} `e xf|o} ia xbf iqf|gkk }`tf ia xbf }fmxi|+ `x} c|isxb |gxf|fkgx`qf xi ixbf| }fmxi|} bg} cfef|gkkp lffe `o~|f}}`qf `e gkk GM@ mivex|`f} "A`cv|f 6)% @e a`qffmieio`f}]`ecg~i|f+ xbf ^b`k`~~`ef}+ Ogkgp}`g+ @ehief}`g+ geh L|vef` Hg|v}}gkgoxbf

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    11/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    0

    }f|q`mf} }fmxi| sg} xbf ag}xf}x c|is`ec ~g|x ia xbf fmieiop `e xf|o} ia qgkvf ghhfh iqf| xbf>>>3 ~f|`ih% @e xbf ^\M geh @eh`g+ xbf c|isxb |gxf ia }f|q`mf} qgkvf ghhfh sg}g~~|ir`ogxfkp xbf }gof g} `e ogevagmxv|`ec% Iekp `e Q`fx Ego+ Xbg`kgeh+ Kgi ^H\+ gehMgolih`g h`h xbf }f|q`mf} }fmxi| c|is eix`mfglkp }kisf| xbge ogevagmxv|`ec% Gkxbivcb xb`}kgxxf| |f}vkx `} eix }v|~|`}`ec ai| mivex|`f} gx xbf `emiof kfqfk} ia Mgolih`g+ Kgi ^H\+ geh Q`fxEgo+ `x `} ovmb oi|f }v|~|`}`ec ai| Xbg`kgeh+ sb`mb bg} g kfqfk ia ~f| mg~`xg `emiof gkoi}xxb|ff x`of} b`cbf| xbge Q`fx Ego}% Ief ~i}}`lkf miemkv}`ie xbgx mivkh lf h|gse a|io xbf

    m|i}}/mivex|p fq`hfemf h`}mv}}fh gliqf `} xbgx mie}x|g`ex} ie c|isxb ia xbf }f|q`mf} }fmxi| g|fk`jfkp xi `o~gmx efcgx`qfkp ie Xbg`kgeh} iqf|gkk c|isxb ~ixfex`gk `e xbf ofh`vo/xf|o%

    A`cv|f 64 Gqf|gcf Geevgk C|isxb \gxf ia Qgkvf Ghhfh lp Gmx`q`xp Xp~f+ >>>3

    ]iv|mf4 Si|kh Hfqfki~ofex @eh`mgxi|}%

    Ief g|cvofex xbgx `} }iofx`of} oghf `} xbgx xbf `em|fg}`ec }bg|f ia }f|q`mf} `e CH^+~g|x`mvkg|kp `e hfqfki~`ec mivex|`f} k`jf @eh`g+ `} `e agmx h`}cv`}fh ogevagmxv|`ec gmx`q`xp |gxbf|

    xbge cfev`ef c|isxb `e ge `ehf~fehfex }f|q`mf} }fmxi|% Xbf `hfg `} xbgx g} ogevagmxv|f|}ivx}iv|mf oi|f ia xbf`| gmx`q`x`f}+ xbf mi||f}~ieh`ec qgkvf ghhfh o`cbx lf |fmi|hfh g} }f|q`mf}gmx`q`xp |gxbf| xbge ogevagmxv|`ec% Bisfqf|+ F`mbfec|ffe geh Cv~xg "7>) gegkptf xbf @eh`gehgxg+ geh a`eh xbgx `exf|ofh`gxf hfogeh gmmivex} ai| iekp glivx ief/xb`|h ia }f|q`mf} qgkvfghhfh% Xbf |fog`e`ec xsi/xb`|h} `} oghf v~ ia a`egk hfogeh "`emkvh`ec fr~i|x})+ sb`mb `}mie}`}xfex s`xb ge vehf|kp`ec x|feh xisg|h} cfev`ef c|isxb ia xbf }fmxi|%

    =%< ]f|q`mf} geh Fo~kipofex

    Xbf }f|q`mf} }fmxi|} fmieio`m `o~i|xgemf ai| xbf GM@ mivex|`f} `} |fakfmxfh `e fo~kipofexhgxg+ xii "A`cv|f 1)% Xgj`ec xbf G]FGE gqf|gcf+ }f|q`mf} dil} gmmivex ai| glivx bgka ia xixgkfo~kipofex% G} sg} xbf mg}f ai| qgkvf ghhfh+ xbf|f `} gcg`e mie}`hf|glkf bfxf|icfef`xp gm|i}}

    mivex|`f} s`xb`e G]FGE4 }f|q`mf} fo~kipofex oghf v~ g|iveh =3& ia xbf xixgk `e Xbg`kgeh `e>3+ lvx iqf| 36& `e ]`ecg~i|f% Gcg`e+ xbf x|feh `} mkfg|kp xisg|h} ge `em|fg}`ec `o~i|xgemfia xbf }f|q`mf} }fmxi| g} g cfef|gxi| ia fo~kipofex% Xbf |fkfqgex a`cv|f} g|f vehivlxfhkp kisf|`e Q`fx Ego geh Mgolih`g+ lvx |fmfex hgxg g|f eix gqg`kglkf a|io xbf Si|kh Hfqfki~ofex@eh`mgxi|}%

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    12/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    7>

    A`cv|f 14 ]f|q`mf} g} g ^f|mfexgcf ia Xixgk Fo~kipofex+ >>>3

    ]iv|mf4 Si|kh Hfqfki~ofex @eh`mgxi|}%

    ]`ecg~i|fxbf oi}x hfqfki~fh mivex|p `e xbf c|iv~ |f~|f}fexfh `e A`cv|f 1}xgeh} ivx g}bgq`ec lp ag| xbf b`cbf}x ~|i~i|x`ie ia fo~kipofex `e xbf }f|q`mf} }fmxi|% Mio~g|fh xi g qgkvfghhfh miex|`lvx`ie ia g|iveh 3>&+ fo~kipofex `e }f|q`mf} gmmivex} ai| iqf| 36& ia xbf xixgk `e]`ecg~i|f% Xbv}+ fqfe `e g hfqfki~fh fmieiop+ xbf }f|q`mf} }fmxi| `} |fkgx`qfkp kgli| `exfe}`qf%]f|q`mf} }fmxi| c|isxb ~|iq`hf} }x|iec ~|i}~fmx} ai| fo~kipofex m|fgx`ie `e xbf ofh`vo/ xikiec/xf|o xb|ivcbivx xbf GM@ mivex|`f}%

    G }fmieh c|iv~ ia fmieio`f}xbf ^b`k`~~`ef}+ @ehief}`g+ Xbg`kgeh+ geh f}~fm`gkkp Ogkgp}`gfrb`l`x fq`hfemf ia }x|vmxv|gk x|ge}ai|ogx`ie `e xbf kgli| og|jfx iqf| |fmfex pfg|}% ]f|q`mf}gmmivex ai| g eix`mfglkp kg|cf| ~|i~i|x`ie ia xixgk fo~kipofex gx xbf feh ia xbf }go~kf ~f|`ihxbgx gx xbf lfc`ee`ec+ sb`mb `} gcg`e mie}`}xfex s`xb xbf }fmxi|} `em|fg}`ec fmieio`m`o~i|xgemf% @exf|f}x`eckp+ @ehief}`g `} xbf iekp ief ia xbf}f mivex|`f} `e sb`mb xbf ~|i~i|x`ie ia

    }f|q`mf} `e xixgk fo~kipofex `} c|fgxf| xbge xbf ~|i~i|x`ie ia }f|q`mf} qgkvf ghhfh `e CH^% @eixbf| si|h}+ xbf }f|q`mf} }fmxi| `} oi}x kgli| `exfe}`qf `e @ehief}`g+ lvx `} g }iv|mf ia |fkgx`qfkpb`cb qgkvf ghhfh ~f| si|jf| |fkgx`qf xi ixbf| }fmxi|} `e xbf |fog`e`ec fmieio`f}%

    Ofg}v|`ec xbf kfqfk ia }f|q`mf} fo~kipofex `e xbf ^\M |ve} `exi }fqf|f ~|ilkfo} ia hgxggqg`kgl`k`xp geh mie}`}xfemp% Xbf Si|kh Hfqfki~ofex @eh`mgxi|} "SH@) hgxglg}f iekp `emkvhf}`eai|ogx`ie ai| xbf ^\M xb|ivcb >< "sbikf fmieiop) `}3=3%8 o`kk`ie+ lvx xbf }gof hgxg ai| >= "v|lge g|fg}) `} iekp 7>0%3 o`kk`ie% C`qfe xbgx xbf

    h`}x|`lvx`ie ia fo~kipofex goiec gc|`mvkxv|f+ ogevagmxv|`ec+ geh }f|q`mf} `} k`jfkp xi lf qf|ph`aaf|fex `e v|lge geh |v|gk g|fg}+ fqfe ~|i~i|x`ie} g|f vek`jfkp xi lf mio~g|glkf lfai|f gehgaxf| >

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    13/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    77

    g} ai| xbf ixbf| GM@ mivex|`f}+ }f|q`mf} `e xbf ^\M |f~|f}fex eix iekp ge `o~i|xgex }iv|mf iaqgkvf ghhfh+ lvx gk}i g ogdi| }iv|mf ia fo~kipofex+ ~g|x`mvkg|kp `e v|lge g|fg}%

    @eh`g gk}i ~|f}fex} }f|`iv} hgxg h`aa`mvkx`f} sbfe `x miof} xi ofg}v|`ec xbf ~|i~i|x`ie ia xixgkfo~kipofex gmmivexfh ai| lp }f|q`mf}% Ief }v|qfp/lg}fh hgxg }iv|mf }vccf}x} xbgx g|ivehief/xb`|h ia xbf si|jai|mf `} mv||fexkp fo~kipfh `e xbf }f|q`mf} }fmxi| "Ciqf|eofex ia @eh`g+7>+ }xgxfofex 8%=)% Xbf evolf|} |f~i|xfh lp Li}si|xb geh Ogf|xfe} "7>) lg}fh ie}xgx`}x`m} a|io xbf 701>} iesg|h} }vccf}x g }k`cbxkp kisf| ~|i~i|x`ie+ egofkp dv}x iqf| ief/wvg|xf| `e >1>3% \fcg|hkf}} ia sb`mb }fx ia a`cv|f} g|f v}fh+ bisfqf|+ g sfkk/jeiseafgxv|f ia xbf @eh`ge fmieiop `} xbgx }f|q`mf} ~kgp g |fkgx`qfkp kg|cf| |ikf `e fo~kipofexcfef|gx`ie xbge hif} `ehv}x|p "1>3)% @eh`g} ~|imf}} iakfg~a|icc`ec xisg|h} g }f|q`mf} fmieiopsbf|fg} xbf xp~`mgk ~|imf}} `} xbgx ge fmieiopa`|}x hfqfki~} g }vl}xgex`gk ogevagmxv|`ec }fmxi| geh iekp xbfe oiqf} bfgq`kp xisg|h}}f|q`mf}~|iq`hf} ge `exf|f}x`ec frgo~kf ia xbf sgp `e sb`mb ge fmieiop mge kfqf|gcf}f|q`mf} }fmxi| c|isxb xi cfef|gxf fo~kipofex geh hfqfki~ofex% @eh`g} }vmmf}} `e x|ghf/|fkgxfh g|fg} }vmb g} lv}`ef}} ~|imf}} ivx}iv|m`ec `} eis lf`ec |f~k`mgxfh ie g }ogkkf| }mgkf`e ixbf| mivex|`f}+ }vmb g} xbf ^b`k`~~`ef}%

    A`cv|f 34 L|fgjhise ia Xixgk Fo~kipofex lp Fmieio`m Gmx`q`xp `e @eh`g

    >>>7 >1>3

    ]iv|mf4 Li}si|xb geh Ogf|xfe} "7>)%

    \fmfex si|j ie }f|q`mf} fo~kipofex `e @eh`g gk}i bg} `exf|f}x`ec `o~k`mgx`ie} `e xf|o} ia kgli|`exfe}`xp geh xbf }j`kk mio~i}`x`ie ia xbf }f|q`mf} }fmxi| si|jai|mf% F`mbfec|ffe geh Cv~xg"7>) }vccf}x xbgx xbf o`r ia }j`kkfh geh ve}j`kkfh kgli| `} gmxvgkkp |fkgx`qfkp mki}f lfxsffe xbfogevagmxv|`ec geh }f|q`mf} }fmxi|}+ sb`mb xfeh} xi }vccf}x xbgx mieqf|cfemf `e ivx~vx ~f|si|jf| `} gk}i k`jfkp xi lf xgj`ec ~kgmf% @ehffh+ xbf }gof gvxbi|} gk}i |f~i|x |f}fg|mb a`eh`ec}

    }vccf}x`ec xbgx }f|q`mf} }fmxi| c|isxb xfeh} xi lf |fkgx`qfkp kgli| `exfe}`qf+ `e }iof }fmxi|}fqfe oi|f }i xbge ogevagmxv|`ec% Xb`} faafmx `} f}~fm`gkkp eixglkf `e xbf |g~`hkp c|is`eclv}`ef}} }f|q`mf} }fmxi|+ sb`mb bg} ge fo~kipofex fkg}x`m`xp efg|kp xb|ff x`of} g} b`cb g} ai|ogevagmxv|`ec% Gkxbivcb oi|f hfxg`kfh hgxg g|f |fwv`|fh lfai|f xbf `o~k`mgx`ie} ia xb`} a`eh`ecai| h`aaf|fex xp~f} ia kgli|}j`kkfh qf|}v} ve}j`kkfhmge lf avkkp vehf|}xiih+ xbf mkfg|`o~k`mgx`ie `} xbgx xbf }f|q`mf} }fmxi| `} eix dv}x ge fec`ef ia fmieio`m c|isxb+ lvx gk}i ge`o~i|xgex }iv|mf ia fo~kipofex `e kgli|/glvehgex hfqfki~`ec mivex|`f} }vmb g} xbi}f `e xbfGM@ c|iv~%

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    14/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    7&6>& ia CH^ i| fo~kipofex xbgx g|f gmmivexfh ai| lp }f|q`mf}% @e ixbf|si|h}+ `exf|egx`iegk `exfc|gx`ie ia }f|q`mf} og|jfx} `e xbf |fc`iegeh ~g|x`mvkg|kp `e xbf ^\M`} |fkgx`qfkp k`o`xfh% Bisfqf|+ xbf a`cv|f }bis} xbgx xbf x|feh `} mkfg|kp xisg|h} c|fgxf|`exfc|gx`ie ia }f|q`mf} og|jfx} iqf| x`of+ geh s`xb xbf |`cbx ~ik`m`f}}ff av|xbf| lfkissffr~fmx xbgx x|feh xi `exfe}`ap `e xbf ofh`vo xf|o%

    ]fmieh+ xbf G]FGE mivex|`f} g|f ie gqf|gcf ovmb oi|f fecgcfh s`xb `exf|egx`iegk }f|q`mf}og|jfx} xbge f`xbf| xbf ^\M i| @eh`g% Ia miv|}f+ xb`} ~i`ex effh} xi lf evgemfh }iofsbgx `ek`cbx ia xbf `o~i|xgex |ikf ~kgpfh lp ]`ecg~i|f `e xbf G]FGE hgxg4 }f|q`mf} x|ghf xbf|f xixgkfh06& ia CH^ `e >0% Eiefxbfkf}}+ xbf miex|g}x |fog`e} }x|`j`ec lfxsffe xbf xsi kg|cffmieio`f} s`xb g |fkgx`qfkp k`o`xfh hfc|ff ia `exf|egx`iegk }f|q`mf} og|jfx `exfc|gx`ie+ geh xbfovmb }ogkkf|+ lvx |fkgx`qfkp oi|f i~fe+ G]FGE fmieio`f}% Xb`} }xpk`tfh agmx `} `e k`ef s`xb xbfcfef|gk xfehfemp ia kg|cf| mivex|`f} xi lf kf}} `exfc|gxfh s`xb `exf|egx`iegk og|jfx}+ sb`mb `}sfkk jeise a|io xbf x|ghf `e ciih} k`xf|gxv|f%

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    15/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    7=

    A`cv|f 24 ]f|q`mf} X|ghf g} g ^f|mfexgcf ia CH^+ GM@ Mivex|`f}+ >>>0

    ]iv|mf4 Si|kh Hfqfki~ofex @eh`mgxi|}%

    Xbf xb`|h }xpk`tfh agmx xi fof|cf a|io xbf hgxg `} xbf miex|g}x lfxsffe }f|q`mf} geh ciih}og|jfx} sbfe `x miof} xi `exf|egx`iegk `exfc|gx`ie% Xixgk of|mbgeh`}f x|ghffr~i|x} geh`o~i|x}g} g ~f|mfexgcf ia CH^ `} ovmb b`cbf| xbge xbf }gof |gx`i ai| }f|q`mf} "A`cv|f 0)% @exf|o} ia xbf G]FGE gqf|gcf+ of|mbgeh`}f x|ghf gmmivex} ai| sfkk `e frmf}} ia 7>>& ia CH^%Gcg`e+ xb`} a`cv|f effh} xi lf evgemfh }iofsbgx `e k`cbx ia xbf |ikf ~kgpfh lp mivex|`f} k`jf]`ecg~i|f "

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    16/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    78

    Hvf xi xbf |fkgx`qf }mg|m`xp ia l`kgxf|gkkp h`}gcc|fcgxfh }f|q`mf} x|ghf hgxg+ `x `} h`aa`mvkx xi~|iq`hf hfxg`kfh `eai|ogx`ie ie xbf frxfex ia }f|q`mf} x|ghf goiec xbf GM@ mivex|`f}+ g}i~~i}fh xi lfxsffe fgmb mivex|p geh xbf |f}x ia xbf si|kh g} g sbikf% Eiefxbfkf}}+ xbfgqg`kglkf hgxg hi gkkis g afs `eaf|femf} xi lf h|gse% Xbf a`|}x `} xbgx ai| g kg|cf fmieiop k`jfxbf ^\M+ G]FGE mv||fexkp |f~|f}fex} iekp g x`ep ~f|mfexgcf ia `x} }f|q`mf} `o~i|x} gehfr~i|x}4 xbf a`cv|f `e >0+ sb`mb `} xbf iekp pfg| ai| sb`mb h`}gcc|fcgxfh hgxg g|f gqg`kglkf+ `}kf}} xbge >%7& `e lixb mg}f} "Xglkf =)%

    Xglkf =4 Xbf ^\M#} Fr~i|x} geh @o~i|x} ia ]f|q`mf}+ >0+ o`kk`ie V](

    Fr~i|x} @o~i|x}

    G]FGE (08 ">%>3&) (73% Xb`} evolf| `} }x`kk qf|p }ogkk `e gl}ikvxf xf|o}+ ia miv|}f+ geh

    fo~bg}`tf} xbf h`qf|}f egxv|f ia @eh`g} x|gh`ec |fkgx`ie}b`~} `e xbf }f|q`mf} }fmxi|%

    http://unstats.un.org/unsd/ServiceTrade/default.aspxhttp://unstats.un.org/unsd/ServiceTrade/default.aspxhttp://unstats.un.org/unsd/ServiceTrade/default.aspxhttp://unstats.un.org/unsd/ServiceTrade/default.aspx
  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    17/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    76

    Xglkf 84 @eh`g#} ]f|q`mf} Fr~i|x}+ >>>3+ o`kk`ie V](

    G]FGE \f}x ia Si|kh

    >> %=6< "7%8&) 71868%36

    >7 === 862%331 "&) 8 170%=2 "7%1&) =3117%66 3173 70)% G]FGE } ~|ir`fh lp hgxg ai| ]`ecg~i|f%

    Hgxg ai| xbf G]FGE mivex|`f} ~|iq`hf g c|fgxf| kfqfk ia h`}gcc|fcgx`ie+ gkxbivcb xbfp g|f }x`kkeix ~f|afmx `e xf|o} ia miqf|`ec gkk l`kgxf|gk x|gh`ec |fkgx`ie}b`~}% A`cv|f 7> }bis} xixgk fr~i|x}l|ijfe hise `exi xbf goivex} gmmivexfh ai| lp `ex|g/G]FGE x|ghf+ xbf ^\M+ @eh`g+ geh xbf |f}xia xbf si|kh |f}~fmx`qfkp% @x effh} xi lf `exf|~|fxfh s`xb mgvx`ie hvf xi xbf kgmj ia l`kgxf|gkkph`}gcc|fcgxfh hgxg ai| g evolf| ia mivex|`f}+ geh ~|ilglkp vehf|/f}x`ogxf} xi }iof frxfex xbf

    `o~i|xgemf ia |fc`iegk x|gh`ec |fkgx`ie}b`~} |fkgx`qf xi xbf |f}x ia xbf si|kh% Eiefxbfkf}}+ xbfcfef|gk ~`mxv|f `} wv`xf mkfg|4 ai| G]FGE+ xbf GM@ og|jfx} gmmivex ai| g |fkgx`qfkp }ogkk lvxc|is`ec ~|i~i|x`ie ia xixgk fr~i|x}4 77& `e >3+ mio~g|fh s`xb 2& `e >>% Xbf lvkj ia xbgxxixgk `} gmmivexfh ai| lp `ex|g/G]FGE x|ghf+ s`xb fr~i|x} xi xbf ^\M geh @eh`g ~kgp`ec g|fkgx`qfkp }ogkkf| |ikf%

    A`cv|f 7>4 G]FGE#} Fr~i|x} ia ]f|q`mf}+ >>>3+ o`kk`ie V](

    ]iv|mf4 X|ghf e ]f|q`mf} Hgxglg}f "A|gemi`} fx gk%+ >0)%

    G oi|f evgemfh ~`mxv|f fof|cf}+ bisfqf|+ `a sf mieqf|x xbf hgxg xi kicg|`xbo} geh |f}mgkfxbfo xi lf fwvgk xi tf|i `e >>+ xbv} ~|iq`h`ec ge `ehfr evolf| geh c|isxb |gxf} "A`cv|f 77)%@x `} `oofh`gxfkp mkfg| xbgx fr~i|x} xi xbf ^\M geh @eh`g bgqf lffe c|is`ec qf|p }x|ieckp iqf||fmfex pfg|}+ gx ge gqf|gcf geevgk`tfh |gxf ia

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    18/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    71

    xisg|h} `em|fg}`ec `exfc|gx`ie ia }f|q`mf} og|jfx} goiec xbf GM@ mivex|`f}+ gkxbivcb xbf|f `}}x`kk ge `o~i|xgex |ikf ai| ~ik`mpogjf|} `e m|fgx`ec g }v~~i|x`qf feq`|ieofex ai| ghh`x`iegk`exfc|gx`ie `e xbf avxv|f}ff av|xbf| lfkis%

    A`cv|f 774 C|isxb `e G]FGE#} Fr~i|x} ia ]f|q`mf}+ >>>3

    ]iv|mf4 X|ghf e ]f|q`mf} Hgxglg}f "A|gemi`} fx gk%+ >0)%

    L|`ec`ec xbf}f hgxg xicfxbf|geh lf`ec mgvx`iv} `e mkg`o`ec xii ovmb hvf xi xbf`| }f|`iv}k`o`xgx`ie}`x `} ag`| xi miemkvhf xbgx xbf|f `} x|fofehiv} }mi~f ai| lii}x`ec `exf|egx`iegk`exfc|gx`ie ia }f|q`mf} og|jfx} `e xbf GM@ mivex|`f}% Ai| xbf oiofex+ }f|q`mf} fr~i|x} g|fxv|efh ovmb oi|f xisg|h} xbf |f}x ia xbf si|kh xbge xbf GM@ fmieio`f} xbfo}fkqf}% \fmfex|g~`h c|isxb `e x|ghf lfxsffe xbf G]FGE mivex|`f} geh @eh`g geh xbf ^\M }vccf}x}+ bisfqf|+xbgx xb`} }`xvgx`ie ogp vehf|ci mie}`hf|glkf mbgecf} `e xbf ofh`vo/xf|o%

    =%8 ]f|q`mf} geh ^|ihvmx`ie Efxsi|j}

    Ief jfp afgxv|f ia xbf Fg}x G}`ge fmieiop iqf| |fmfex pfg|} bg} lffe xbf fof|cfemf ia`exf|egx`iegk ~|ihvmx`ie efxsi|j} "Gehi geh J`ov|g >6l)% Xbf}f efxsi|j} g|f oghf v~ iaqf|x`mgk ~|ihvmx`ie mbg`e} k`ej`ec qg|`iv} mivex|`f} `e xbf |fc`ie+ miol`efh s`xb |fc`iegk gehckilgk h`}x|`lvx`ie mbgeefk}% Xbf oi}x b`cb ~|ia`kf `ehv}x|`f} `eqikqfh `e xb`} oihf ia ~|ihvmx`ie`emkvhf fkfmx|ie`m} geh ogmb`ef|p% G~~kf} `^ih+ ai| frgo~kf+ miexg`e} iqf| aiv| bveh|fh`exf|ofh`gxf mio~iefex} }iv|mfh a|io hiof}x`m geh iqf|}fg} i~f|gxi|} oi}xkp `e xbf G}`g/^gm`a`m |fc`ie+ ai| a`egk g}}folkp `e Xg`~f`+Mb`eg "Ki >2)% Xi g kf}}f| frxfex+ `ehv}x|`f} }vmbg} xfrx`kf} geh mkixb`ec g|f gk}i `eqikqfh% Gkxbivcb xbf }~|fgh ia `exf|egx`iegk ~|ihvmx`ieefxsi|j} bg} eis lffe eixfh ivx}`hf Fg}x G}`g "f%c%+ Gehi geh J`ov|g >6g: J`ov|g fx gk%>3)+ xbf |fc`ie} fr~f|`femf |fog`e} h`}x`emx`qf lfmgv}f ia xbf `o~i|xgex ~g|x ~kgpfh lpefxsi|jfh ~|ihvmx`ie `e h|`q`ec iqf|gkk x|ghf akis}+ g} sfkk g} xbf `exfc|gx`ie ia mivex|`f} gx

    h`aaf|fex `emiof kfqfk}%Gkxbivcb xbf|f `} eis g ciih goivex ia hf}m|`~x`qf ogxf|`gk gqg`kglkf ie xbf egxv|f geh frxfexia `exf|egx`iegk ~|ihvmx`ie efxsi|j}+ ovmb kf}} `} jeise glivx xbf hfxf|o`egex}geh `e~g|x`mvkg|+ xbf ~ik`mp hfxf|o`egex}ia g mivex|p} gl`k`xp xi lfmiof ~g|x ia xbgx oihf ia~|ihvmx`ie% Mkfg|kp+ x|ghf geh `eqf}xofex ~ik`m`f} g|f ief ~g|x ia xbf fwvgx`ie% K`lf|gk`tgx`ie ia`exf|ofh`gxf ciih} }fmxi|}+ g} sfkk g} hvxp h|gslgmj }mbfof}+ ogjf ovkx`egx`iegk ~|ihvmx`ieoi|f ~|ia`xglkf% F}xglk`}b`ec ge `e}x`xvx`iegk geh fmieio`m feq`|ieofex xbgx `} miehvm`qf xiai|f`ce h`|fmx `eqf}xofex `} gk}i `o~i|xgex+ }`emf fex|p ia ai|f`ce mio~ge`f} l|`ec`ec xfmbeikicpgeh og|jfx jeiskfhcf `} g mfex|gk ~g|x ia xbf efxsi|jfh ~|ihvmx`ie ~bfeiofeie%

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    19/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    73

    Xbf }f|q`mf} }fmxi| `} geixbf| g|fg xbgx hf}f|qf} }~fm`gk gxxfex`ie g} g ~ixfex`gk hfxf|o`egex ia~g|x`m`~gx`ie `e `exf|egx`iegk ~|ihvmx`ie efxsi|j}% Oiq`ec `exf|ofh`gxf ciih} gm|i}} li|hf|}ovkx`~kf x`of} ~|`i| xi a`egk g}}folkp |fwv`|f} sfkk/hfqfki~fh x|ge}~i|x geh kic`}x`m} }f|q`mf}% Gsfkk/avemx`ie`ec a`egem`gk }fmxi| mge gk}i ~|iq`hf ovmb effhfh x|ghf a`egem`ec+ g} sfkk g}gmmf}} xi mg~`xgk ai| `eqf}xofex `e iqf|}fg} ~|ihvmx`ie bvl}% Xbf|f `} g} pfx ei hfxg`kfh|f}fg|mb ie xb`} ~i`ex+ lvx A`cv|f 7< miea`|o} xbf lg}`m `exv`x`ie% V}`ec ogmb`ef|p ~g|x} gehmio~iefex} g} g ~f|mfexgcf ia xixgk fr~i|x} g} g ~|irp ai| xbf hfc|ff ia ~g|x`m`~gx`ie `e

    `exf|egx`iegk`tfh ~|ihvmx`ie+ xbf|f `} g mkfg| ~i}`x`qf g}}im`gx`ie s`xb xbf }`tf ia xbf }f|q`mf}}fmxi|%7

    A`cv|f 73

    @exf|f}x`eckp+ bisfqf|+ xbf ^\M geh xbf G]FGE mivex|`f} g|f gkk iqf|/gmb`fqf|} s`xb|f}~fmx xi xbf gqf|gcf |fkgx`ie}b`~ lfxsffe }f|q`mf} }fmxi| hfqfki~ofex geh ~g|x`m`~gx`ie `e~|ihvmx`ie efxsi|j}4 xbfp k`f eix`mfglkp gliqf xbf |fc|f}}`ie k`ef+ sb`mb }vccf}x} xbgx xbf|f `}ilq`iv}kp ovmb oi|f ci`ec ie `e xbf`| ~ik`mp feq`|ieofex} xbge dv}x xbf hfqfki~ofex ia}f|q`mf}% @eh`g+ lp miex|g}x+ k`f} frgmxkp ie xbf |fc|f}}`ie k`ef+ sb`mb `} `e k`ef s`xb `x} kf}}f|hfc|ff ia `exfc|gx`ie `e `exf|egx`iegk ~|ihvmx`ie efxsi|j}%

    ]iv|mf4 VE Miox|ghf "x|ghf hgxg)+ geh Si|kh Hfqfki~ofex @eh`mgxi|} "}f|q`mf} hgxg)%

    G} eixfh gliqf+ ief g}~fmx ia xbf }f|q`mf} feq`|ieofex xbgx `} ~g|x`mvkg|kp k`jfkp xi frb`l`x}x|iec k`ej} s`xb `exf|egx`iegk ~|ihvmx`ie efxsi|j} `} kic`}x`m}% \fmfex fmieiofx|`m si|j lp]g}kgq}jp geh ]bf~bf|h "Ai|xbmio`ec) miea`|o} xb`} `exv`x`ie% Xbf gvxbi|} a`eh xbgx x|ghf `eogmb`ef|p ~g|x} geh mio~iefex} `} }`ce`a`mgexkp oi|f }fe}`x`qf xi `o~|iqfofex} `e kic`}x`m}~f|ai|ogemf xbge `} x|ghf `e a`e`}bfh ciih}% G} ge i|hf| ia ogce`xvhf+ `x `} eix ve|fg}ieglkf xi}vccf}x xbgx x|ghf akis} `e ~g|x} geh mio~iefex} g|f efg|kp 6>& oi|f }fe}`x`qf xi kic`}x`m}~f|ai|ogemf xbge x|ghf `e a`egk ciih}% Oi|fiqf|+ xbf faafmx `} ~g|x`mvkg|kp }x|iec `e xbf G}`g/^gm`a`m |fc`ie+ sb`mb `} mie}`}xfex s`xb xbf `o~i|xgemf ia `exf|egx`iegk`tfh ~|ihvmx`ie `e xbf|fc`ie%

    A`cv|f 7= ~|f}fex} xbf `exv`x`ie lfb`eh xbf ]g}kgq}jp geh ]bf~bf|h "Ai|xbmio`ec) |f}vkx} lp~kixx`ec xbf }bg|f ia ogmb`ef|p ~g|x} geh mio~iefex} `e xixgk x|ghf gcg`e}x xbf kic`}x`m}}f|q`mf} mio~iefex ia xbf Si|kh Lgej} Kic`}x`m} ^f|ai|ogemf @ehfr% Xbf|f `} mkfg|kp g }x|iec+~i}`x`qf |fkgx`ie}b`~ lfxsffe xbf xsi qg|`glkf}+ sb`mb }vccf}x} xbgx g }x|iecf| kic`}x`m} }f|q`mf}feq`|ieofex} `} g}}im`gxfh s`xb g c|fgxf| hfc|ff ia }~fm`gk`tgx`ie `e `exf|egx`iegk`tfh~|ihvmx`ie% Gcg`e+ xbf ^\M geh gkk lvx ief G]FGE mivex|p "@ehief}`g) g|f }x|iecf| xbge

    7Xbf mkg}}`a`mgx`ie ia x|ghf akis} `exi ogmb`ef|p ~g|x} geh mio~iefex} qf|}v} a`egk ciih} `} lg}fh ie Gehi gehJ`ov|g ">6l)% \< ai| xbf |fc|f}}`ie `} >%

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    20/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    72

    gqf|gcf ~f|ai|of|} sbfe `x miof} xi xb`} |fkgx`ie}b`~% @eh`g+ `e xb`} mg}f+ k`f} }k`cbxkp lfkis xbf|fc|f}}`ie k`ef+ sb`mb `} gcg`e mie}`}xfex s`xb xbf kf}} `o~i|xgex |ikf mv||fexkp ~kgpfh lp`exf|egx`iegk ~|ihvmx`ie efxsi|j} `e `x} fmieiop%

    A`cv|f 7=4 ^g|x`m`~gx`ie `e ^|ihvmx`ie Efxsi|j} q}% Kic`}x`m} Mio~fxfemf ]mi|f+ >3

    ]iv|mf4 VE Miox|ghf "x|ghf hgxg)+ geh Kic`}x`m} f|ai|ogemf @ehfr%

    L|`ec`ec xbf}f |f}vkx} xicfxbf|+ xbf|f `} mkfg| }mi~f ai| }pef|c`f} lfxsffe xbf }f|q`mf} ~ik`mpgcfehg geh xbf fr~ge}`ie geh }x|fecxbfe`ec ia `exf|egx`iegk ~|ihvmx`ie efxsi|j} `e xbf GM@mivex|`f}% Gkxbivcb ogep agmxi|} g|f `eqikqfh `e xbf }~|fgh ia `exf|egx`iegk`tfh ~|ihvmx`iegeh ovmb |f}fg|mb }x`kk effh} xi lf hief ie xbf |ikf ~kgpfh lp ~ik`mp`x `} k`jfkp xbgxciqf|eofex gmx`ie xi }v~~i|x hfqfki~ofex ia g q`l|gex geh mio~fx`x`qf }f|q`mf} }fmxi| `} ~g|x iaxbf oi}x faafmx`qf o`r% Ief g|fg xbgx hf}f|qf} ~g|x`mvkg| gxxfex`iegeh `ehffh bg} |fmf`qfh `x`e xbf miexfrx ia G]FGE `exfc|gx`ie`} kic`}x`m} }f|q`mf}% Kic`}x`m} c|fg}f} xbf sbffk} ia`exf|egx`iegk`tfh ~|ihvmx`ie+ geh }v~~i|x`ec xbf hfqfki~ofex ia ~|`qgxf }fmxi| mg~gm`xp `e xb`}

    g|fg }bivkh lf g ~|`i|`xp ci`ec ai|sg|h%

    8% ]F\Q@MF] ^IK@M@F] @E XBF GM@ MIVEX\@F]

    Xbf ~ik`mp feq`|ieofex `} g m|`x`mgk qg|`glkf `e g}}f}}`ec xbf ~|i}~fmx} ai| xbf GM@ }f|q`mf}}fmxi| iqf| xbf ofh`vo xf|o% Bisfqf|+ wvgex`ap`ec geh miehvmx`ec m|i}}/mivex|p mio~g|`}ie}ia ~ik`m`f} gaafmx`ec x|ghf `e }f|q`mf} `} ge frx|fofkp h`aa`mvkx xg}j "}ff Hff >6 ai| g |fq`fs)%Ie xbf ief bgeh+ oi}x }f|q`mf}/|fkgxfh ~ik`m`f} g|f |fcvkgxi|p ofg}v|f} xbgx mgeeix fg}`kp lfx|ge}ai|ofh `exi gh qgki|fo fwv`qgkfex} }`o`kg| xi xg|`aa} `e ciih} og|jfx}% L|ighkp }~fgj`ec+}f|q`mf} x|ghf ~ik`m`f} bgqf xsi }fx} ia fmieio`m faafmx}% Ief j`eh ia ~ik`mp xfeh} xi `em|fg}fxbf mi}x} agm`ec `emvolfex i~f|gxi|} `e g og|jfx+ xbf|flp kfgh`ec xi ki}x faa`m`femp geh b`cbf|

    ~|`mf} ai| v}f|} ia xbf }f|q`mf% Ge frgo~kf `} g |fcvkgx`ie xbgx xgrf} xbf ~|ia`x} ia kimgk gehai|f`ce i~f|gxi|} h`aaf|fexkp% Sf |faf| xi xb`} }fx ia ~ik`m`f} cfef|gkkp g} lf`ec mi}x `em|fg}`ecofg}v|f}% Xbf }fmieh j`eh ia ~ik`mp xbgx sf g|f miemf|efh s`xb |f}x|`mx} og|jfx miexf}xgl`k`xplp m|fgx`ec lg||`f|} xi xbf fex|p ia efs a`|o}% Ge frgo~kf `} g |fwv`|fofex xbgx k`o`x} xbfevolf| ia k`mfe}f} gqg`kglkf ai| xfkfmioove`mgx`ie} i~f|gxi|}% Sf |faf| xi xb`} }fmieh }fx ia~ik`m`f} g} m|fgx`ec fex|p lg||`f|}%

    Mkfg|kp+ ogep ciqf|eofex ofg}v|f} mge bgqf ief i| lixb ia xbf |f}x|`mx`qf faafmx} ofex`iefhgliqf% A|io ge fmieio`m faa`m`femp ~i`ex ia q`fs+ |fcvkgxi|p mi}x/lfefa`x gegkp}`} mge bfk~~ik`mpogjf|} hf}`ce og|jfx `exf|qfex`ie} xbgx gmb`fqf kfc`x`ogxf ~vlk`m ~ik`mp ildfmx`qf} gx

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    21/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    70

    o`e`ovo fmieio`m mi}x+ `emkvh`ec xb|ivcb xbf gqi`hgemf ia fex|p lg||`f|} geh k`o`xgx`ie ia mi}x`em|fg}`ec faafmx}% A|io g x|ghf ~ik`mp ~i`ex ia q`fs+ bisfqf|+ xbf jfp qg|`glkf `} h`}m|`o`egx`ie4|fcvkgx`ie} xbgx m|fgxf h`aaf|fex og|jfx mieh`x`ie}+ f`xbf| hf dv|f i| hf agmxi+ ai| hiof}x`m qf|}v}ai|f`ce i~f|gxi|} g|f cfef|gkkp mie}`hf|fh xi lf x|ghf/|fkgxfh+ geh xbv} xi ai|o ~g|x ia xbfl|ighf| `exf|egx`iegk `exfc|gx`ie gcfehg% Hfm`h`ec sbf|f frgmxkp xi h|gs xbf k`ef lfxsffe|fcvkgxi|p ofg}v|f} s`xb frmkv}`qfkp hiof}x`m faafmx} geh xbi}f s`xb `exf|egx`iegk faafmx} `} iamiv|}f g h`aa`mvkx wvf}x`ie% @e sbgx aikkis}+ sf |fkp ie hf agmxi mieqfex`ie} ghi~xfh lp

    `exf|egx`iegk gcfem`f} xi `hfex`ap x|ghf/|fkgxfh ~ik`m`f} `e qg|`iv} }f|q`mf} og|jfx}%Xsi ogdi| hgxg mikkfmx`ie faai|x} g|f mv||fexkp vehf|sgpief gx xbf IFMH geh xbf ixbf| gx xbfSi|kh Lgej`e ge faai|x xi ~|ihvmf }f|q`mf} x|ghf |f}x|`mx`qfef}} `eh`mf} xbgx sivkh bfk~gegkp}x} geh ~ik`mpogjf|} oiqf ai|sg|h `e g}}f}}`ec g~~k`fh }f|q`mf} x|ghf ~ik`mp }fxx`ec}g|iveh xbf si|kh% Bisfqf|+ ef`xbf| i|cge`tgx`ie bg} pfx oghf xbf`| hgxg ~vlk`mkp gqg`kglkf+ geh}i `x `} cfef|gkkp eix ~i}}`lkf xi `emkvhf xbfo `e xbf mv||fex |f~i|x% Sf xbf|fai|f aimv} iemv||fexkp gqg`kglkf ~|ir`f} ai| xbf }xgxf ia ~ik`m`f} gaafmx`ec `exf|egx`iegk `exfc|gx`ie ia }f|q`mf}og|jfx} `e xbf GM@ mivex|`f}%

    8%7 X|ghf Mi}x} `e ]f|q`mf} Og|jfx}

    A`|}x+ sf v}f efs hgxg ie x|ghf mi}x} `e }f|q`mf} mio~`kfh lp O`|ivhix fx gk% "7>)% Xbf

    gvxbi|} v}f g xbfi|p/mie}`}xfex ofxbihikicp xi mio~vxf gkk/`emkv}`qf gh qgki|fo fwv`qgkfexofg}v|f} ia xbf mi}x ia x|gh`ec }f|q`mf} `exf|egx`iegkkp |fkgx`qf xi xbf mi}x ia x|gh`ec xbfohiof}x`mgkkp% Gkxbivcb xbf evolf|} ~|ihvmfh `e xb`} sgp g|f }fe}`x`qf xi oihfk ~g|gofxf|}+ xbf~gxxf|e ia x|ghf mi}x} gm|i}} mivex|`f} geh xb|ivcb x`of `} eix% @x `} `o~i|xgex xi lf gsg|f+bisfqf|+ xbgx x|ghf mi}x} `e xbf O`|ivhix fx gk% "7>) ofxbihikicp g|f eix gj`e xi ofg}v|f} ia~|ixfmx`ie% Xbfp `emkvhf g ag| s`hf| |gecf ia mi}x agmxi|}+ }iof ia sb`mb g|f gofeglkf xi ~ik`mp`exf|qfex`ie}+ geh }iof ia sb`mb g|f eix% @e }f|q`mf} }fmxi|}+ x|ghf mi}x} g|f ~g|xkp |fkgxfh xi|fcvkgxi|p ofg}v|f}+ }iof ia sb`mb mge gmx g} hf agmxi ~|ixfmx`ie+ lvx gk}i cfic|g~b`mgk+mvkxv|gk+ geh `e}x`xvx`iegk h`aaf|femf}% Xbf O`|ivhix fx gk% "7>) ofg}v|f} xgjf gmmivex ia gkk iaxbf}f agmxi|} xicfxbf|% Hvf xi hgxg k`o`xgx`ie}+ xbf gvxbi|} iekp miqf| ~v|f m|i}}/li|hf|}f|q`mf} x|ghf "CGX] Oihf @)% @exv`x`qfkp+ xbf`| g~~|igmb |fk`f} ie xbf il}f|qfh ~gxxf|e ia `ex|g/egx`iegk qf|}v} `exf|egx`iegk x|ghf xi `eaf| xbf kfqfk ia `exf|egx`iegk |fkgx`qf xi hiof}x`m x|ghf

    mi}x}% Xbf oi|f g mivex|p x|ghf} s`xb `x}fka |fkgx`qf xi `x} ~g|xef|}+ xbf b`cbf| xbf kfqfk ia`exf|egx`iegk |fkgx`qf xi hiof}x`m x|ghf mi}x}% X|ghf mi}x} mgkmvkgxfh `e xb`} sgp g|f g xi~hise ofg}v|f+ `e xbf }fe}f xbgx xbfp mg~xv|f gkk }iv|mf} ia x|ghf mi}x}+ fqfe veil}f|qglkf}%

    Xbf O`|ivhix fx gk% "7>) gegkp}`} miqf|} v~ xi 17 mivex|`f}+ lvx iekp xb|ff a|io xbf GM@ c|iv~4@ehief}`g+ xbf ^\M+ geh @eh`g% \f}vkx} ai| xbi}f mivex|`f}+ mio~g|`ec x|ghf mi}x} `e }f|q`mf}og|jfx} s`xb xbi}f `e ciih} og|jfx}+ g|f `e A`cv|f 78% @e gkk mg}f}+ x|ghf mi}x} g|f mio~vxfh|fkgx`qf xi xbf |f}x ia xbf si|kh g} g sbikf% Xbf a`|}x |f}vkx xi fof|cf a|io xbf O`|ivhix fx gk%"7>) gegkp}`} `} xbgx x|ghf mi}x} `e }f|q`mf} g|f ovmb b`cbf| xbge `e ciih} }fmxi|} `e gkk xb|ffog|jfx}% Xbf h`aaf|femf |gecf} a|io glivx =>& `e @eh`g xi efg|kp hivlkf `e @ehief}`g geh xbf^\M% Xb`} |f}vkx `} `e k`ef s`xb xbf l|ighf| a`eh`ec} ia xbf O`|ivhix fx gk% "7>) }xvhp+ gehb`cbk`cbx} xbf ogdi| }mi~f ~ik`mpogjf|} bgqf xi lii}x `exf|egx`iegk x|ghf `e }f|q`mf} lpkisf|`ec x|ghf mi}x} xb|ivcb xg|cfxfh |fai|o}%

    @e ghh`x`ie+ A`cv|f 78 }bis} xbgx x|ghf mi}x} `e }f|q`mf} g|f b`cb `e gkk xb|ff mivex|`f}% Xgj`ecxbf oi}x |fmfex pfg| ai| sb`mb hgxg g|f gqg`kglkf+ xbf gh qgki|fo fwv`qgkfex} g|f 73=& `e xbf^\M+ 722& `e @eh`g+ geh 70=& `e @ehief}`g% @e gkk xb|ff mg}f}+ xbf|fai|f+ xbf mi}x ia x|gh`ec}f|q`mf} `exf|egx`iegkkp `} a|io xb|ff/wvg|xf|} b`cbf| xi xs`mf g} b`cb g} xbf mi}x ia }fkk`ec}f|q`mf} s`xb`e egx`iegk li|hf|}% Xbf}f evolf|} g|f mie}`hf|glkp b`cbf| xbge xbf si|khgqf|gcf "766& `e >3)% Xb`} a`eh`ec }vccf}x} xbgx ~ik`mpogjf|} effh xi ~gp `em|fg}fhgxxfex`ie xi |fcvkgxi|p ofg}v|f} xbgx g|f hf agmxi h`}m|`o`egxi|p gcg`e}x ai|f`ce }f|q`mf~|iq`hf|}+ fqfe `a xbf|f `} ei hf dv|f h`}m|`o`egx`ie% @x gk}i `eh`mgxf} ge `o~i|xgex |ikf ai| ~|`qgxf}fmxi| mg~gm`xp lv`kh`ec goiec }f|q`mf ~|iq`hf|}+ }i xbgx xbfp mge lfxxf| egq`cgxf xbf mio~kfr

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    22/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    |fcvkgxi|p+ }im`gk+ geh mvkxv|gk h`aaf|femf} `ebf|fex `e x|gh`ec }f|q`mf} gm|i}} li|hf|}% Lv`kh`ecv~ xbf }f|q`mf} }fmxi|+ g} ~|fq`iv}kp eixfh+ `} ge `o~i|xgex ~g|x ia l|ighf| faai|x} gx ~|`qgxf}fmxi| hfqfki~ofex%

    A`cv|f 784 X|ghf Mi}x} `e xbf ^\M+ @eh`g+ geh @ehief}`g+ >>>6

    ]iv|mf4 O`|ivhix fx gk% "7>)%

    @x `} gk}i `o~i|xgex xi eixf xbf hpego`m} `e A`cv|f 78% @e xbf ^\M geh @eh`g+ xbf|f `} mkfg|fq`hfemf xbgx x|ghf mi}x} `e }f|q`mf} bgqf lffe hfmk`e`ec iqf| |fmfex pfg|}+ sb`mb sivkh lfmie}`}xfex s`xb xbf `ex|ihvmx`ie ia }iof faafmx`qf ~ik`mp |fai|o}% @e xbf mg}f ia xbf ^\M+ x|ghfmi}x} `e }f|q`mf} sf|f g|iveh 3%1& kisf| `e >6 xbge `e >>+ s`xb g ~g|x`mvkg| |fhvmx`ieeix`mfglkf gaxf| xbf mivex|p} SXI gmmf}}`ie `e >7% @e @eh`g+ xbf mio~g|glkf evolf| `} 6%7&%@e @ehief}`g+ lp miex|g}x+ x|ghf mi}x} gmxvgkkp |i}f lp 3%2& iqf| xbf >>>6 ~f|`ih% Xbf|f `}mkfg|kp }mi~f ai| ~ik`mpogjf|} xb|ivcbivx xbf GM@ mivex|`f} xi |fhvmf x|ghf mi}x} `e }f|q`mf}av|xbf|+ lvx xbf `}}vf `} g ~g|x`mvkg| ~|`i|`xp ai| @ehief}`g% Gkxbivcb @ehief}`g} fr~f|`femf `} eix

    efmf}}g|`kp |f~|f}fexgx`qf ia xbf l|ighf| G]FGE fr~f|`femf+ `x eiefxbfkf}} c`qf} mgv}f ai|miemf|e iqf| xbf faafmx`qfef}} ia |fmfex faai|x} gx `exfc|gx`ec `exf|egx`iegk }f|q`mf} og|jfx} `exbf |fc`ie% ^ik`mpogjf|} s`kk effh xi c`qf |fefsfh gxxfex`ie xi xb`} `}}vf g} xbfp ~v|}vf faai|x}gx `exfc|gx`ec }f|q`mf} og|jfx} `e xbf miexfrx ia xbf GFM Lkvf~|`ex%

    8%< ]f|q`mf} ^ik`mp @eh`mgxi|}

    Xbf O`|ivhix fx gk% "7>) ofg}v|f `} g v}favk ioe`lv} `eh`mgxi| ia x|ghf mi}x} `e }f|q`mf}}fmxi|}+ `e xbf }fe}f xbgx `x mg~xv|f} gkk agmxi|} xbgx gaafmx xbf mi}x ia }v~~kp`ec }f|q`mf}`exf|egx`iegkkp |gxbf| xbge kimgkkp% Bisfqf|+ `x hif} eix `}ikgxf ~ik`mp/|fkgxfh agmxi|} a|io ixbf|agmxi|} xbgx xfeh xi `em|fg}f x|ghf mi}x}+ }vmb g} cfic|g~b`mgk+ mvkxv|gk+ geh }im`gk h`aaf|femf}%G} ~|fq`iv}kp eixfh+ ilxg`e`ec hgxg ie g~~k`fh }f|q`mf} ~ik`m`f} `} mv||fexkp h`aa`mvkx lfmgv}f xbf

    xsi i|cge`tgx`ie} fecgcfh `e hgxg mikkfmx`iexbf IFMH geh xbf Si|kh Lgejbgqf eix pfx|fkfg}fh xbf`| }f|q`mf} x|ghf |f}x|`mx`qfef}} `eh`mf} ie g mivex|p lg}`}% Eiefxbfkf}}+ }iof~|ir`f} ai| xbf }xgxf ia }f|q`mf} }fmxi| ~ik`m`f} g|f mv||fexkp gqg`kglkf+ geh sf |fq`fs xbfo `exbf |fog`ehf| ia xb`} }fmx`ie%

    A`cv|f 76 }bis} hgxg a|io xbf IFMH} ^|ihvmx Og|jfx \fcvkgx`ie @eh`mgxi|} "^O\})% Xbf^O\} g|f s`hfkp v}fh g} g ~|irp ai| g~~k`fh }f|q`mf} ~ik`m`f}+ geh bgqf lffe aiveh xi bgqf g}`ce`a`mgex `o~gmx ie `exf|egx`iegk x|ghf `e }f|q`mf} "f%c%+ ]bf~bf|h geh Qge Hf| Og|fk 7>)%Veai|xvegxfkp+ ^O\ hgxg g|f iekp gqg`kglkf ai| xbf ^\M geh @eh`g+ geh hi eix miqf| gep G]FGEmivex|`f}% Sf ~|f}fex xbf IFMH gqf|gcf g} g ~i`ex ia mio~g|`}ie%

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    23/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    24/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    2)% @ehffh+ xbf ildfmx`qf ia G]FGE`exfc|gx`ie `} g kiaxp ief4 xbf|f s`kk lf }vl}xgex`gkkp ei |f}x|`mx`ie xi G]FGE }f|q`mf} }v~~k`f|}`e ~|iq`h`ec }f|q`mf} geh `e f}xglk`}b`ec mio~ge`f} gm|i}} egx`iegk li|hf|} s`xb`e xbf |fc`ie+}vldfmx xi hiof}x`m |fcvkgx`ie} "G]FGE >2)% Mie}`}xfex s`xb ~|fq`iv} g~~|igmbf} xik`lf|gk`tgx`ie ia }f|q`mf} `e G]FGE+ xbf GFM Lkvf~|`ex `hfex`a`f} aiv| ~|`i|`xp }fmxi|} ai|`exfc|gx`ie lp 7>4 g`| x|ge}~i|x+ f/G]FGE+ bfgkxbmg|f+ geh xiv|`}o% Kic`}x`m} `} xbf a`axb ~|`i|`xp}fmxi|+ s`xb k`lf|gk`tgx`ie hvf lp 7=% Ai| ixbf| }fmxi|}+ k`lf|gk`tgx`ie `} xi lf gmb`fqfh

    ~|ic|f}}`qfkp xb|ivcb 76% @e gkk mg}f}+ xbf|f `} akfr`l`k`xp ai| }vl/c|iv~} ia mivex|`f} xi~|imffh gx h`aaf|fex }~ffh} xb|ivcb ge G]FGE O`ev} R ai|ovkg% Xbf Lkvf~|`ex gk}i hfgk}}f~g|gxfkp s`xb a`egem`gk }f|q`mf}+ geh v}f} kgecvgcf xbgx }vccf}x} xbgx xbf ~gmf geh }mi~f iak`lf|gk`tgx`ie g|f k`jfkp xi lf kf}}f| `e xbgx }fmxi| xbge `e }iof ixbf|}+ ~|`og|`kp hvf xi ieci`ecmiemf|e} glivx xbf |fkgx`ie}b`~ lfxsffe k`lf|gk`tgx`ie geh a`egem`gk }fmxi| }xgl`k`xp `e }iofmivex|`f}%

    K`lf|gk`tgx`ie ofg}v|f} `e gkk }fmxi|} aimv} ie CGX] Oihf} 7=+ s`xb }~fm`a`m cv`hfk`ef}miqf|`ec xbf |foiqgk ia |f}x|`mx`ie} ie m|i}}/li|hf| x|ghf g} sfkk g} ai|f`ce isef|}b`~ gehfwv`xp k`o`xgx`ie}% Ai| frgo~kf+ `e xbf aiv| i|`c`egk ~|`i|`xp }fmxi|}+ ai|f`ce fwv`xp k`o`x} g|f xi lf

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    25/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    & lp 7>: xbf }gof `} xi bg~~fe ai| kic`}x`m} lp 7=% Ai| eie/~|`i|`xp }fmxi|}+fwv`xp k`o`x} g|f xi |`}f xi 67& lp 7> geh 3>& lp 76 ai| eie/a`egem`gk }fmxi|}% X|fgxofex iaOihf 8 `} kf}} hfxg`kfh+ gkxbivcb xbf miemkv}`ie ia Ovxvgk \fmice`x`ie Gc|ffofex} `e g evolf|ia g|fg}g|mb`xfmxv|f+ gmmivexgemp+ }v|qfp`ec+ ofh`m`ef+ geh hfex`}x|pmge lf fr~fmxfh xiagm`k`xgxf xbf xfo~i|g|p oiqfofex ia }f|q`mf ~|iq`hf|}%

    Gkxbivcb xbf GFM Lkvf~|`ex ie }f|q`mf} `} ge gol`x`iv} himvofex+ xbf wvf}x`ie ia`o~kfofexgx`ie ie xbf c|iveh |fog`e} g }f|`iv} ief% ]vmmf}}`qf k`lf|gk`tgx`ie ~gmjgcf}xbff`cbxb ia sb`mb sg} miemkvhfh `e 7>bgqf `hfex`a`fh g |gecf ia ofg}v|f} ai| ofolf|} xi`o~kfofex% Xbf G]FGE ]fm|fxg|`gx} GFM ]mi|fmg|h `eh`mgxf} `o~|f}}`qf ~|ic|f}}+ s`xb iqf|3>& ia xg|cfx} gmb`fqfh lp 7>+ `emkvh`ec iqf| 2>& ia ]`eckf Og|jfx xg|cfx} "G]FGE 7>)%Xbf ]mi|fmg|h gk}i `eh`mgxf}+ bisfqf|+ xbgx mie}`hf|glkf si|j |fog`e} xi lf hief `e xbf}f|q`mf} g|fg+ g} ghh`x`iegk |fai|o ~gmjgcf} miof ie k`ef%

    Ixbf| }iv|mf} g|f oi|f }jf~x`mgk `e |fkgx`ie xi ~|ic|f}} ie xbf GFM Lkvf~|`ex `e }f|q`mf}%]voo`ec v~ xbf fr~f|`femf vehf| }vmmf}}`qf ~gmjgcf}+ A`ej geh Oik`evfqi ">3) miemkvhfxbgx G]FGE ofolf|} mioo`xofex} g|f k`o`xfh `e l|fghxb geh hf~xb% Oi|fiqf|+ V]@XM "7>)b`cbk`cbx} ~f|mf`qfh `o~kfofexgx`ie cg~} `e }iof mivex|`f} `e xbf g|fg ia kic`}x`m} }f|q`mf}4 gxxbf x`of ia s|`x`ec+ g evolf| ia G]FGE ofolf|} bgh eix pfx l|ivcbx xbfo}fkqf} `eximio~k`gemf s`xb xbf |fwv`|fofex ia gx kfg}x g 67& fwv`xp mf`k`ec ie ai|f`ce ~g|x`m`~gx`ie `e

    kic`}x`m} a`|o}% @ehv}x|p }iv|mf} m`xfh lp V]@XM "7>) `eh`mgxf miex`evfh ai|f`ce isef|}b`~|f}x|`mx`ie} `e Xbg`kgeh+ xbf ^b`k`~~`ef}+ geh @ehief}`g+ sb`mb }vccf}x} xbgx xbf|f `} `ehffh gcg~ lfxsffe ilk`cgx`ie} geh `o~kfofexgx`ie gx kfg}x `e |fkgx`ie xi }iof fkfofex} ia xbf GFM}f|q`mf} gcfehg% ]`o`kg|kp+ Hff "7>) miemkvhf} xbgx `e lgej`ec+ xbf ogdi|`xp ia G]FGEmivex|`f} bgqf pfx xi |fgmb xbf Lkvf~|`ex xg|cfx+ geh `e g`| }f|q`mf}+ iekp ief mivex|p bg}|fgmbfh xbf xg|cfx ia gkkis`ec gx kfg}x 3>& ai|f`ce isef|}b`~ ia hiof}x`m g`|k`ef}% Gmmi|h`ec xixbf }gof gvxbi|+ ei G]FGE mivex|p bg} |fgmbfh xbf Lkvf~|`ex xg|cfx ia gkkis`ec gx kfg}x 67&ai|f`ce isef|}b`~ `e og|`x`of }f|q`mf} a`|o} lp 7>% Fqfe `e xfkfmioove`mgx`ie}+ iekp xsiG]FGE mivex|`f} mv||fexkp offx gkk ia xbf Lkvf~|`ex} ai|f`ce isef|}b`~ xg|cfx}% Mkfg|kp+ G]FGEofolf| mivex|`f} s`kk effh xi ~gp av|xbf| gxxfex`ie xi xbf}f g}~fmx} ci`ec ai|sg|h%

    Xbf ixbf| `o~i|xgex g}~fmx ia |fc`iegk `exfc|gx`ie `e`x`gx`qf} `e xb`} g|fg |fkgxf} xi G]FGE}gc|ffofex} s`xb+ |f}~fmx`qfkp+ xbf ^\M geh @eh`g% Gkxbivcb gc|ffofex} ai| x|ghf `e ciih} bgqf

    lffe miemkvhfh s`xb lixb mivex|`f}+ g }f|q`mf} gc|ffofex `} }x`kk vehf| efcix`gx`ie s`xb @eh`ggeh bg} eix pfx lffe a`egk`tfh% ^|ic|f}} ie Oihf 8 x|ghf `e ~g|x`mvkg| bg} ~|iqfh h`aa`mvkx% S`xbxbf ^\M+ lp miex|g}x g X|ghf `e ]f|q`mf} "X@]) Gc|ffofex sg} }`cefh geh fexf|fh `exi ai|mf `e>3% Xbf gc|ffofex `} lg}fh ie g ~i}`x`qf k`}x g~~|igmb`%f%+ k`lf|gk`tgx`ie mioo`xofex} g|fiekp xgjfe ie `e k`}xfh }fmxi|}geh g bpl|`h "~i}`x`qf geh efcgx`qf) g~~|igmb xi k`}x`ec xbf kfqfkia i~feef}} "A`ej geh Oik`efvqi >2)% Mio~g|`ec xbf ^\M} ilk`cgx`ie} vehf| xbf X@] s`xb `x}CGX] mioo`xofex} }vccf}x} xbgx `x bg} iekp gc|ffh xi g k`o`xfh goivex ia ghh`x`iegkk`lf|gk`tgx`ie~|`og|`kp `e Oihf =xb|ivcb xbf ghh`x`ie ia efs l`eh`ec} i| xbf frxfe}`ie ial`eh`ec} xi efs }fmxi|}% Xbf }gof `} cfef|gkkp x|vf ai| G]FGE mivex|`f}+ gkxbivcb ]`ecg~i|f}}mbfhvkf ia mioo`xofex} cif} }vl}xgex`gkkp lfpieh `x} CGX] l`eh`ec} `e gkk aiv| oihf} ia}v~~kp+ geh Ogkgp}`g bg} xgjfe ie }iof }vl}xgex`gk efs ilk`cgx`ie} `e Oihf = "A`ej gehOik`evfqi+ >3)%

    Ci`ec ai|sg|h+ `x s`kk lf `o~i|xgex ai| xbf GM@ mivex|`f} xi miex`evf xi kfqf|gcf |fc`iegk`exfc|gx`ie `e`x`gx`qf} xi ~|ioixf |fcvkgxi|p |fai|o ia jfp }f|q`mf} }fmxi|}% Ia miv|}f+ xbf|f `} gmio~kfr `exf|~kgp lfxsffe |fc`iegk geh ve`kgxf|gk `e`x`gx`qf}+ ~g|x`mvkg|kp `e }f|q`mf}4 xbf kgxxf|g|f iaxfe g ofge} ia kimj`ec `e xbf ai|of|+ |gxbf| xbge g cfev`ef }iv|mf ia k`lf|gk`tgx`ie `exbf`| ise |`cbx% Sbf|fg} |fc`iegk gc|ffofex} xi k`lf|gk`tf ciih} x|ghf iaxfe bgqf g }x|ieckph`}m|`o`egxi|p ivxmiof+ xbgx `} ovmb kf}} x|vf ai| }f|q`mf} "O`|ivhix fx gk% 7>)% Xbf |fg}ie `}xbgx fqfe sbfe xbfp g|f ~|io~xfh lp |fc`iegk `exfc|gx`ie |gxbf| xbge ovkx`kgxf|gk gc|ffofex}+|fai|o} xi kisf| fex|p lg||`f|} i| |fhvmf xbf mi}x lv|hfe} agm`ec `emvolfex} xfeh xi g~~kpfwvgkkp xi gkk x|gh`ec ~g|xef|} |gxbf| xbge iekp `e agqi| ia ~|faf|femf ~g|xef|}% Ia miv|}f+ xbf|f `}

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    26/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    27/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    6

    ]iv|mf4 @exf|egx`iegk Mio~g|`}ie |ic|go%

    G} gk|fghp eixfh+ hgxg gqg`kgl`k`xp mie}x`xvxf} g ogdi| mie}x|g`ex `e gegkpt`ec x|ghf `e }f|q`mf}goiec xbf GM@ mivex|`f}% @x `} `o~i}}`lkf xi ~|iq`hf g }fmxi|gk l|fgjhise ia l`kgxf|gk x|ghfakis}+ i| `ex|g/ qf|}v} frx|g/|fc`iegk x|ghf+ lvx fr`}x`ec }iv|mf} hi gkkis v} xi ~|iq`hf }iof}fmxi|gk hfxg`k ie }f|q`mf} fr~i|x} xi xbf |f}x ia xbf si|kh "A`cv|f 72)% ]`emf xbf}f hgxg g|f

    lg}fh ie fgmb mivex|p} lgkgemf ia ~gpofex} }xgx`}x`m}+ `emkvh`ec o`||i| hgxg sbfe g~~k`mglkf+xbfp oi}xkp mg~xv|f CGX] Oihf 7 x|ghf%

    @x `} `oofh`gxfkp g~~g|fex a|io A`cv|f 72 xbgx xsi }fmxi|}x|gqfk geh x|ge}~i|xgmmivex ai| gogdi| }bg|f ia xixgk }f|q`mf} fr~i|x} `e g |gecf ia GM@ mivex|`f}% @e lixb mg}f}+ xbf }bg|f iaxbf}f }fmxi|} `e fr~i|x} g~~fg|} xi lf mie}`hf|glkp kg|cf| xbge `e fr~feh`xv|f g} g sbikf"CH^: A`cv|f 73)% Oi|f cfef|gkkp+ `x `} g~~g|fex xbgx xbf ~gxxf|e} ia fr~feh`xv|f geh x|ghf h`aaf|}`ce`a`mgexkp gm|i}} mivex|`f}% @e }iof mg}f}+ ge `o~i|xgex ~g|x ia xbf fr~kgegx`ie `} xbf agmx xbgxeix gkk }f|q`mf} mge fg}`kp lf x|ghfh q`g Oihf 74 mie}x|vmx`ie+ sb`mb gmmivex} ai| g ogdi| }bg|fia fr~feh`xv|f lvx+ gmmi|h`ec xi xbf}f a`cv|f}+ g x`ep }bg|f ia x|ghf+ `} ge frgo~kf% @e ixbf|mg}f}+ bisfqf|+ ~ik`mp `} k`jfkp xi ~kgp g kg|cf| |ikf% Og|jfx h`}xi|x`ie} g}}im`gxfh s`xbh`}m|`o`egxi|p fex|p lg||`f|} geh mi}x lv|hfe} kfgh mie}vof|} xi mbii}f hiof}x`m iqf| ai|f`ce}f|q`mf ~|iq`hf|}% G mkfg| `o~k`mgx`ie ia xbf h`aaf|femf} lfxsffe A`cv|f} 73 geh 72 `} xbgx xbf|f`} oi|f xbgx ~ik`mpogjf|} mge hi xi |fhvmf }f|q`mf} }fmxi| h`}xi|x`ie}+ geh `e ~g|x`mvkg| xi l|`ecglivx g oi|f efvx|gk }fx ia `emfex`qf} gm|i}} }fmxi|}%

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    28/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    2

    ]iv|mf4 X|ghf e ]f|q`mf} Hgxglg}f Qf|}`ie 3 "A|gemi`} fx gk%+ >0)%

    Xbf }fmieh `o~i|xgex ~i`ex xi fof|cf a|io A`cv|f 72 `} xbgx mio~vxf|} geh ixbf| lv}`ef}}}f|q`mf} ~kgp g ogdi| |ikf `e xbf }f|q`mf} x|ghf kgeh}mg~f `e xbf |fc`ie% Eisbf|f `} xb`} x|vf|+ iamiv|}f+ xbge `e @eh`g4 g} g ckilgk @X ivx}iv|m`ec bvl+ `x frb`l`x} g ~g|x`mvkg|kp b`cb ~|i~i|x`ie iamio~vxf| }f|q`mf} `e xixgk }f|q`mf} fr~i|x}+ g|iveh 8>&% Ei ixbf| mivex|p frb`l`x} }vmb g b`cbhfc|ff ia `exfc|gx`ie s`xb ckilgk og|jfx} `e @X }f|q`mf}% Bisfqf|+ lv}`ef}} ~|imf}}ivx}iv|m`ecsb`mb `} mg~xv|fh lp xbf ixbf| lv}`ef}} }f|q`mf} }fmxi| hfa`e`x`ie`} g ogdi|fr~i|x fg|ef| `e oi}x ia xbf GM@ mivex|`f}% @x gmmivex} ai| oi|f xbge 76& ia xixgk fr~i|x} `e}fqfe mg}f}% @exf|f}x`eckp+ ixbf| lv}`ef}} }f|q`mf} |f~|f}fex g }`ce`a`mgex }bg|f ia xixgk fr~i|x}`e hfqfki~fh fmieio`f} "]`ecg~i|f) g} sfkk g} hfqfki~`ec ief} "xbf ^\M geh xbf ^b`k`~~`ef}+ai| frgo~kf)%

    ]fmxi|/}~fm`a`m hgxg gk}i gkkis v} xi aimv} `e oi|f hfxg`k ie `eh`q`hvgk mio~iefex} ia xbf ixbf|lv}`ef}} }f|q`mf} }fmxi| "A`cv|f 70)% \f~i|x`ec mieqfex`ie} qg|p }`ce`a`mgexkp gm|i}} mivex|`f}+

    geh hgxg effh xi lf `exf|~|fxfh s`xb mgvx`ie ai| L|vef` Hg|v}}gkgo geh Kgi ^H\+ geh xi gkf}}f| frxfex Mgolih`g geh Q`fx Ego+ hvf xi xbf |fkgx`qf kgmj ia hfxg`k `e iaa`m`gk }xgx`}x`m}%Eiefxbfkf}}+ xbf l|fgjhise }bis} xbf frxfex xi sb`mb lv}`ef}} geh ogegcfofex }f|q`mf}gmmivex ai| g }`ce`a`mgex ~|i~i|x`ie ia xixgk x|ghf `e xbf }fmxi|% Miol`efh s`xb xbf hgxgh`}mv}}fh `e xbf ~|fq`iv} ~g|gc|g~b+ xbf|f `} }vccf}x`qf fq`hfemf ia xbf fof|cfemf ia~|ihvmx`ie efxsi|j} `e }f|q`mf} g|iveh xbf |fc`ie+ lp gegkicp s`xb hfqfki~ofex} `e ciih}og|jfx} iqf| |fmfex hfmghf}% Lv}`ef}} ~|imf}} ivx}iv|m`ec `} xgj`ec ~kgmf xi g }`ce`a`mgexfrxfex+ `eqikq`ec lixb hfqfki~fh geh hfqfki~`ec fmieio`f}% \f}fg|mb geh hfqfki~ofexavemx`ie} g|f `em|fg}`eckp lf`ec x|ghfh g} sfkk% ]`ecg~i|f `} xbf }xgehivx frgo~kf+ lvx @eh`ggeh fqfe Xbg`kgeh g|f gk}i `eqikqfh `e xb`} ~|imf}} xi g eixglkf hfc|ff%

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    29/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    3

    ]iv|mf4 X|ghf e ]f|q`mf} Hgxglg}f Qf|}`ie 3 "A|gemi`} fx gk%+ >0)%

    @e xbf |fog`ehf| ia xb`} }fmx`ie+ sf h`}mv}} `eh`q`hvgk }fmxi|} `e oi|f hfxg`k% Sbf|fg} xbfh`}mv}}`ie xbv} ag| bg} aimv}fh ie `hfex`ap`ec fmieio`mgkkp `o~i|xgex }f|q`mf} }fmxi|} `e xf|o}ia fr~feh`xv|f} geh x|ghf+ sf eis frgo`ef ~ik`m`f} oi|f mki}fkp% Iv| ildfmx`qf `} xi g}}f}} xbf

    kfqfk ia ~ik`mp |f}x|`mx`qfef}} `e xbf |fc`ie+ geh xi `hfex`ap xbf xp~f} ia ofg}v|f} ~ik`mpogjf|}mivkh `o~kfofex xi `o~|iqf `exf|egx`iegk geh |fc`iegk og|jfx `exfc|gx`ie `e xbf miexfrx ial|ighf| GM@ `e`x`gx`qf}%

    6%7 Xfkfmioove`mgx`ie}

    G} xbf }xg|x`ec ~i`ex ai| iv| h`}mv}}`ie ia ~ik`m`f} gaafmx`ec x|ghf `e xfkfmioove`mgx`ie}+ sf xgjfxbf Si|kh Lgej} X|ghf \f}x|`mx`qfef}} @eh`mf}% Gcg`e+ xbf}f hgxg bgqf eix pfx lffe oghf~vlk`m ie g mivex|p/lp/mivex|p lg}`}+ }i sf mge iekp |f~i|x xbf |fkfqgex |fc`iegk gcc|fcgxf}a|io Ciix``t geh Ogxxii ">0) "A`cv|f )% @e k`ef s`xb xbf cfef|gk |f}vkx} ~|f}fexfh gliqf+ xbfFg}x G}`g geh ]ivxb G}`g |fc`ie} g|f lixb b`cbkp |f}x|`mxfh lp si|kh }xgehg|h} `e xbfxfkfmioove`mgx`ie} }fmxi|% @ehffh+ xbfp g|f |f}~fmx`qfkp xbf oi}x geh }fmieh/oi}x |f}x|`mxfh

    |fc`ie} `e xbf si|kh+ gmmi|h`ec xi xbf}f Si|kh Lgej hgxg% Gkxbivcb sf mge fr~fmx xbf|f xi lfmie}`hf|glkf bfxf|icfef`xp gm|i}} mivex|`f} xbgx `} eix |fqfgkfh lp xbf}f gcc|fcgxf a`cv|f}+ xbfiqf|gkk ~`mxv|f xbgx fof|cf} sbfe mio~g|fh s`xb+ ai| frgo~kf+ xbf si|kh gqf|gcf i| xbf IFMHgqf|gcf `} }x|`j`ec%

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    30/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    31/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    ) x|ghf mi}x} ofg}v|f `} lg}fh ieOihf 7 x|ghf+ `x vehivlxfhkp c`qf} g kf}}f| |ikf xi fex|p lg||`f|} ia xbf xp~f fo~bg}`tfh `e xbfIFMH hgxg+ sb`mb ~|`og|`kp gaafmx Oihf = x|ghf%

    A`cv|f >6

    ]iv|mf4 O`|ivhix fx gk% "7>)%

    Sbgx xp~f} ia ofg}v|f} hi ~ik`mpogjf|} effh xi aimv} ie `e i|hf| xi |fhvmf x|ghf mi}x} geh~ik`mp/|fkgxfh h`}xi|x`ie} `e xfkfmioove`mgx`ie} }f|q`mf} og|jfx}9 H`bfk geh ]bf~bf|h ">3)`hfex`ap g |gecf ia ~i}}`l`k`x`f} `e xbf miexfrx ia hfqfki~`ec xbf`| x|ghf |f}x|`mx`qfef}} `eh`mf} ai|a`rfh geh oil`kf xfkfmioove`mgx`ie}% @e xf|o} ia Oihf 7 x|ghf+ ~|`i|`x`f} `emkvhf |fcvkgx`ie}

    http://www.oecd.org/document/1/0,3746,en_2649_34323_2367297_1_1_1_1,00.htmlhttp://www.oecd.org/document/1/0,3746,en_2649_34323_2367297_1_1_1_1,00.htmlhttp://www.oecd.org/document/1/0,3746,en_2649_34323_2367297_1_1_1_1,00.htmlhttp://www.oecd.org/document/1/0,3746,en_2649_34323_2367297_1_1_1_1,00.html
  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    32/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    =>

    xbgx feglkf i~f|gxi|} xi mieefmx xi fr`}x`ec efxsi|j} s`xbivx h`}m|`o`egx`ie+ g} sfkk g} gkkis`ecxbf hfqfki~ofex ia `exf|efx/lg}fh xfkf~biep }f|q`mf}% Bisfqf|+ xbf m|vm`gk g|fg ai| oiq`ecai|sg|h `e xb`} g|fg |fkgxf} xi mioof|m`gk ~|f}femf "Oihf =)% \f`eai|m`ec mio~fx`x`qf ei|o} `exbf }fmxi|+ `emkvh`ec xb|ivcb xbf f}xglk`}bofex ia ge `ehf~fehfex |fcvkgxi|+ `} g m|vm`gk }xf~%Kisf|`ec hf dv|f geh hf agmxi lg||`f|} xi fex|p mge femiv|gcf ai|f`ce mio~ge`f} xi fexf| xbfog|jfx+ xbf|flp lii}x`ec mio~fx`x`ie+ kisf|`ec ~|`mf}+ geh `o~|iq`ec }f|q`mf% K`mfe}`ecg||gecfofex} g|f g m|vm`gk ~g|x ia xbf fwvgx`ie+ geh }bivkh lf hf}`cefh `e }vmb g sgp g} xi

    agm`k`xgxf fex|p s`xbivx vehvf h`}m|`o`egx`ie gcg`e}x ai|f`ce }f|q`mf ~|iq`hf|}%

    6%< X|ge}~i|x+ H`}x|`lvx`ie+ geh Kic`}x`m}

    Xbf Si|kh Lgej ~|iq`hf} |f}x|`mx`qfef}} hgxg ie og|`x`of x|ge}~i|x "A`cv|f 0)%

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    33/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    =7

    A`cv|f

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    34/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    =>6

    ]iv|mf4 O`|ivhix fx gk% "7>)%

    Ge ghh`x`iegk `eai|ogx`ie }iv|mf `e xb`} }fmxi| `} xbf hgxg mikkfmxfh lp Bikksfc geh Siec">0)% Xbf gvxbi|} v}f g qg|`fxp ia }iv|mf} xi mie}x|vmx |f}x|`mx`qfef}} `eh`mf} ai| kic`}x`m}}f|q`mf}+ g} sfkk g} g`|+ og|`x`of+ geh kgeh x|ge}~i|x% \f}vkx} g|f ~|f}fexfh `e A`cv|f

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    36/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    =8

    @e xf|o} ia miem|fxf ~ik`mp ofg}v|f} xbgx mge bfk~ |fhvmf x|ghf mi}x} `e xbf}f }fmxi|}+ H`bfkgeh ]bf~bf|h ">3) ~|iq`hf g xp~ikicp lp oihf ia }v~~kp ai| h`}x|`lvx`ie }f|q`mf}% Xbf og`e~ixfex`gk g|fg ai| |fgk`t`ec av|xbf| fmieio`m cg`e} `e xb`} g|fg k`f} `e oiq`ec ai|sg|h ie }v~~kplp mioof|m`gk ~|f}femf "Oihf =)% ^ik`m`f} xbgx |f}x|`mx gmmf}} xi mioof|m`gk kgeh+ k`o`x xbf }`tfgeh xp~f ia mioof|m`gk ivxkfx} xbgx mge lf i~fefh+ g} sfkk g} l|ighf| k`o`xgx`ie} ie ai|f`cefwv`xp ~g|x`m`~gx`ie+ mge gkk mie}x`xvxf lg||`f|} xi fex|p% @ehffh+ }iof }vmb ofg}v|f} g|f eix}`o~kp h`}m|`o`egxi|p gcg`e}x ai|f`ce i~f|gxi|} lvx |f}x|`mx xbf fex|p ia ~ixfex`gkkp faa`m`fex

    ~|iq`hf|} oi|f cfef|gkkp%V]@XM "7>) `hfex`a`f} g} ia 7> g evolf| ia }~fm`a`m frgo~kf} ia Oihf = |f}x|`mx`ie} xbgxs`kk effh xi lf hfgkx s`xb `e xbf miexfrx ia mio~kfx`ec xbf GFM% Xbg`kgeh+ ai| frgo~kf+ ~|ib`l`x}ogdi|`xp ai|f`ce isef|}b`~ ia hiof}x`m x|ge}~i|xgx`ie gmx`q`x`f}+ `emkvh`ec xbi}f xbgx g|f ~g|x iage `exf|egx`iegk }b`~ofex% Xbf kfcgk a|gofsi|j ai| kic`}x`m}/|fkgxfh ai|f`ce `eqf}xofex `} vemkfg|`e xbf ^b`k`~~`ef}4 xbf kfc`}kgx`qf k`o`x g~~fg|} xi lf 8>&+ lvx `x bg} lffe aiveh eix xi lfg~~k`mglkf xi g`| a|f`cbx ai|sg|hf|}: xbf feh |f}vkx `} xbgx xbf `}}vf ogp bgqf xi lf k`x`cgxfh+sb`mb m|fgxf} }`ce`a`mgex vemf|xg`exp ai| }f|q`mf ~|iq`hf|}% G >0 kgs `e @ehief}`g faafmx`qfkp|f}f|qf} gkk kic`}x`m} gmx`q`x`f} xi kimgk}+ gkxbivcb k`o`xfh gmmf}} `} c|gexfh xi ai|f`ce }f|q`mf~|iq`hf|} `e mikkgli|gx`ie s`xb hiof}x`m ~g|xef|}% Gkxbivcb Ogkgp}`g bg} k`lf|gk`tfh ai|f`cefex|p `e g evolf| ia }fmxi|}+ xbf|f `} }x`kk g |fwv`|fofex xbgx g ogdi|`xp }xgjf `e mv}xio}l|ijf|gcf lf bfkh lp `eh`cfeiv} Ogkgp}% Ie xbf ixbf| bgeh+ Q`fx Ego geh Mgolih`g bgqflixb v}fh xbf`| SXI gmmf}}`ie ~|imf}} xi kimj `e }`ce`a`mgex |fai|o}% @e Q`fx Ego+ xbf mg~ ieai|f`ce isef|}b`~ ia fr~|f}} hfk`qf|p a`|o} `} xi lf k`axfh fex`|fkp `e 7+ }vldfmx xi ge fmieio`meffh} xf}x% Mgolih`g bg} }`o`kg|kp vehf|xgjfe eix xi `o~i}f ai|f`ce isef|}b`~ |f}x|`mx`ie} `e|igh a|f`cbx x|ge}~i|x geh miv|`f| }f|q`mf}%

    Bikksfc geh Siec ">0) gk}i `hfex`ap g |gecf ia ~ik`m`f} xbgx mge gaafmx |f}x|`mx`qfef}} `e xbfkic`}x`m} }fmxi|% @e ghh`x`ie xi cfef|gk |f}x|`mx`ie} ie m|i}}/li|hf| oiqfofex} ia mg~`xgk "Oihf=) geh ~fi~kf "Oihf 8)+ xbfp gk}i `hfex`ap xbf |ikf ia ciqf|eofex oiei~ik`f} `e }iof kic`}x`m}/|fkgxfh }fmxi|}% @e ~g|x`mvkg|+ ciqf|eofex oiei~ik`f} `e g|fg} }vmb g} mg|ci bgehk`ec+ c|ivehbgehk`ec+ }xgxf x|gh`ec+ i| miexg`ef| x|vmj`ec+ mge |f}vkx `e b`cbf| ~|`mf} ai| feh/v}f|} g} sfkk g}hpego`m `efaa`m`fem`f} hvf xi xbf kgmj ia mio~fx`x`qf ~|f}}v|f% C`qfe xbf `o~i|xgemf ia kic`}x`m}

    }f|q`mf} `e ~|ioix`ec |fc`iegk geh `exf|egx`iegk x|ghf`emkvh`ec xb|ivcb efxsi|j }x|vmxv|f}+ g}h`}mv}}fh gliqf|fai|o} `e xbf}f g|fg} g|f k`jfkp xi bgqf ~g|x`mvkg|kp kg|cf fmieio`m ~gpiaa}%

    6%= A`egemf

    Xbf Si|kh Lgej} }f|q`mf} ~ik`mp hgxg gcg`e }vccf}x xbgx Fg}x geh ]ivxb G}`g g|f goiec xbfoi}x |f}x|`mxfh |fc`ie} `e xbf si|kh sbfe `x miof} xi x|ghf `e a`egem`gk }f|q`mf} "A`cv|f

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    37/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    =6

    A`cv|f ) }v~~i|x xbf q`fs ~vx ai|sg|h `e xbf ~|fq`iv} ~g|gc|g~b+ gx kfg}x `e }iag| g} xbf ^\M geh @eh`g g|f miemf|efh "A`cv|f )%

    H`bfk geh ]bf~bf|h ">3) `hfex`ap g |gecf ia ~ik`m`f} xbgx mge ~ixfex`gkkp gaafmx x|ghf `e xbflgej`ec geh `e}v|gemf }fmxi|}% Ief }fx ia ~ik`m`f} gaafmx} Oihf 7 x|ghf+ lp m|fgx`ec lg||`f|} xi~v|f m|i}}/li|hf| oiqfofex} ia a`egem`gk }f|q`mf}% Ai| `e}xgemf+ |f}x|`mx`ie} ie li||is`ec a|ioi| hf~i}`x`ec s`xb ai|f`ce lgej} faafmx`qfkp k`o`x xbf }`tf ia xbf og|jfx xi xbi}f `e}x`xvx`ie}~bp}`mgkkp ~|f}fex s`xb`e g ~g|x`mvkg| mivex|p% Xi xbf frxfex xbgx }vmb |f}x|`mx`ie} gaafmx xbfi~f|gx`ie} ia a`egem`gk }fmxi| mio~ge`f}+ xbfp eix iekp mie}x`xvxf ge fex|p lg||`f|+ lvx xbfp gk}ixfeh xi |g`}f xbf i~f|gx`ec mi}x} ia `emvolfex}% Ia miv|}f+ mioof|m`gk ~|f}femf "Oihf =) `}

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    38/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    =1

    gk}i ge `o~i|xgex oihf ia }v~~kp `e xbf a`egem`gk }fmxi|% Ofg}v|f} xbgx k`o`x xbf f}xglk`}bofexia ai|f`ce l|gembf}+ g} sfkk g} |f}x|`mx`ie} ie ai|f`ce fwv`xp ~g|x`m`~gx`ie `e xbf }fmxi|+ ogjf xbfhiof}x`m og|jfx kf}} miexf}xglkf% \fcvkgx`ie} ciqf|e`ec xbf `}}vgemf ia lgej`ec k`mfe}f} effhxi lf gho`e`}xf|fh `e g x|ge}~g|fex geh eie/h`}m|`o`egxi|p sgp `e i|hf| xi fe}v|f xbgx ai|f`cemio~fx`xi|} mge fexf| xbf hiof}x`m og|jfx lg}fh ie xbf`| ~f|mf`qfh mio~fx`x`qfef}}%

    Hff geh H`eb ">0) ~|iq`hf av|xbf| hfxg`k} ie xbf xp~f} ia ~ik`mp |f}x|`mx`ie} xbgx g|f oi}xmiooie `e xbf G]FGE miexfrx% @e xbf lgej`ec }vl/}fmxi|+ xbfp a`eh xbgx ]`ecg~i|f `} lp ag| xbfoi}x i~fe og|jfx ai| ai|f`ce }f|q`mf ~|iq`hf|}% @e ixbf| mivex|`f}+ ~ik`m`f} gaafmx`ec mioof|m`gk~|f}femf "oihf =) geh `ex|g/mi|~i|gxf x|ge}af|ff} "oihf 8) g|f oi}x ~|fqgkfex% Opgeog|}og|jfx `} gkoi}x mio~kfxfkp mki}fh xi ai|f`ce ~|iq`hf|}+ ~|`og|`kp hvf xi xbf}f xp~f} ia|f}x|`mx`ie}% Xbf efrx oi}x |f}x|`mxfh c|iv~ `} Q`fx Ego+ Ogkgp}`g+ Xbg`kgeh+ geh Kgi ^H\%L|vef` Hg|v}}gkgo geh xbf ^b`k`~~`ef} g|f }k`cbxkp kf}} |f}x|`mx`qf xbge xbf G]FGE gqf|gcf+sbf|fg} Mgolih`g geh @ehief}`g g|f mie}`hf|glkp oi|f i~fe% Xbf og`e |fg}ie ai| xbfh`aaf|femf `e |f}x|`mx`qfef}} }mi|f} lfxsffe xbf}f xsi c|iv~} `} xbf |fkgx`qfkp kf}}f| |f}x|`mx`ie}ie mioof|m`gk ~|f}femf `e Mgolih`g geh @ehief}`g%

    @e ghh`x`ie xi faa`m`femp miemf|e}+ x|ghf k`lf|gk`tgx`ie `e xbf a`egem`gk }fmxi| gk}i effh} ximiea|iex xbf effh xi fe}v|f ge g~~|i~|`gxf kfqfk ia hiof}x`m ~|vhfex`gk |fcvkgx`ie ai| gkki~f|gxi|}+ hiof}x`m geh ai|f`ce% Xbf ~i`ex `} g ~g|x`mvkg|kp `o~i|xgex ief `e Fg}x G}`g+ sbf|f

    xbf 7003 m|`}`} |fog`e} g hfa`e`ec afgxv|f ia xbf }fmxi|gk kgeh}mg~f% Xbf jfp ai| |fcvkgxi|} gehx|ghf efcix`gxi|} oiq`ec ai|sg|h `} xi }x|`jf ge g~~|i~|`gxf lgkgemf lfxsffe k`lf|gk`tgx`ie geh|fcvkgx`ie% Cfef|gkkp+ `x }bivkh lf ~i}}`lkf xi offx ~|vhfex`gk ildfmx`qf} geh fe}v|f a`egem`gk}fmxi| }xgl`k`xp `e g sgp xbgx hif} eix h`}m|`o`egxf lfxsffe ai|f`ce geh hiof}x`m }f|q`mf~|iq`hf|}+ i| lfxsffe `emvolfex} geh efs fex|gex}%

    6%8 Bfgkxb ]f|q`mf}

    X|ghf `e ofh`mgk }f|q`mf} `} g }ve}b`ef }fmxi| `e G}`g% Xbg`kgeh+ ]`ecg~i|f+ Ogkgp}`g+ geh@eh`g bgqf lffe ofh`mgk xiv|`}o hf}x`egx`ie} ai| oi|f xbge g hfmghf+ ie xbf lgmj ia xbf`| b`cb/wvgk`xp geh |fkgx`qfkp mbfg~ ofh`mgk }f|q`mf} mio~g|fh xi xbi}f `e hfqfki~fh sf}xf|emivex|`f}% @e CGX] ~g|kgemf+ xb`} `} Oihf < mie}vo~x`ie ia ofh`mgk }f|q`mf} sbf|f ai|f`cemie}vof|} x|gqfk xi xbf }v~~kp`ec mivex|p xi gqg`k xbfo}fkqf} ia bfgkxb }f|q`mf}% Xbf ofh`mgkxiv|`}o og|jfx `} fr~fmxfh xi c|is oi|f g} kg|cf mi}x h`aaf|fex`gk} ia bfgkxb mg|f }f|q`mf} `esf}xf|e hfqfki~fh mivex|`f} geh G}`ge hfqfki~`ec mivex|`f} ~f|}`}x% ^}pmbikic`mgk gehfoix`iegk lg||`f|} xi gmmf}}`ec bfgkxb }f|q`mf} ivx}`hf ief} mivex|p xbgx+ bf|fxiai|f+ bgqf~|iq`hfh g l|gjf ie oi|f ofh`mgk }f|q`mf} x|ghf mivkh c|ghvgkkp f|ihf gaxf| ogep agqi|glkffr~f|`femf} ia |fxv|e`ec xiv|`}x}+ geh mivkh avfk oi|f ai|f`ce hfogeh ai| xbf }gof ofh`mgk}f|q`mf}% S`xb`e G}`g+ xii+ g} xbf o`hhkf mkg}} ~i~vkgx`ie `em|fg}f} geh lfmiof} oi|f gaakvfex+x|ghf `e ofh`mgk }f|q`mf} s`xb`e xbf |fc`ie `} fr~fmxfh xi av|xbf| gmmfkf|gxf%

    Oi}x ia xbf lv}`ef}} `e ofh`mgk xiv|`}o bg} mgxf|fh xi Sf}xf|e xiv|`}x} |gxbf| xbge `ex|g/|fc`iegk mie}vof|}% Oi}x ai|f`ce ~gx`fex} `e ]`ecg~i|f geh Ogkgp}`g g|f m`x`tfe} ia ixbf|G]FGE mivex|`f}+ sb`kf Xbg`kgeh gxx|gmx} oi|f mv}xiof|} a|io ivx}`hf G]FGE+ xbf ogdi|`xp iasbio g|f Dg~gef}f+ f`xbf| a|io Dg~ge i| k`q`ec g} fr~gx|`gxf} "}ff Xglkf 6)% @eh`g h|gs} ogep

    ia `x} ~gx`fex} a|io xbf kg|cf @eh`ge h`g}~i|g ~i~vkgx`ie sbi miof lgmj xi @eh`g ai| xiv|`}o gehai| ofh`mgk ~|imfhv|f}+ g} sfkk g} a|io ixbf| hfqfki~`ec ef`cbli|`ec ]ivxb G}`ge mivex|`f}sbf|f ofh`mgk }f|q`mf} g|f ag| kf}} hfqfki~fh% Mio~fx`x`qfef}} `e ofh`mgk xiv|`}o `e Xbg`kgeh+]`ecg~i|f+ geh Ogkgp}`g |fk`f} eix iekp ie kisf| ~|`mfh }f|q`mf} mio~g|fh xi xbi}f `ehfqfki~fh mivex|`f}+ lvx gk}i ie xbf f}xglk`}bfh |f~vxgx`ie ia b`cb wvgk`xp }f|q`mf} geh}~fm`gk`tfh }f|q`mf} xbgx g|f eix gqg`kglkf `e ixbf| G]FGE mivex|`f}%

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    39/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    =3

    Xglkf 64 Fr~i|x} ia Bfgkxb Xiv|`}o ]f|q`mf}

    Fr~i|x |fqfevf} Evolf| ia~gx`fex}

    I|`c`e ia ~gx`fex} ]x|fecxb}

    Ogkgp}`g \O76> o`kk`ie"(8> O) ">=)

    Oi|f xbge7>>+>>>

    ">=)8>>+>>>">6)

    1>& @ehief}`g+7>& ixbf| G]FGE

    Mg|h`ikicp+ mg|h`i/xbi|gm`m}v|cf|p+ mi}ofx`m }v|cf|p

    ]`ecg~i|f (8 o`kk`ie">>>">+>>>">6)

    86& @ehief}`g+& Ogkgp}`g+ =&ixbf| G]FGE

    K`qf| x|ge}~kgex}+ di`ex|f~kgmfofex}+ mg|h`gm}v|cf|p

    Xbg`kgeh G~~|ir l`kk`ielgbx ">=)"(82< o`kk`ie)

    83>+>>>">7)+1=>+>>>"> o`kk`ie">6)

    6>>+>>>">6)

    O`hhkf Fg}x+ VJ+Mgeghg+hfqfki~`ecmivex|`f}

    Mg|h`gm }v|cf|p+ di`ex|f~kgmfofex}+ fpf }v|cf|p

    ]iv|mf4 Xglkf 7 e G|vegeiehmbg` geh A`ej ">3): VEF]MG^ ">3)%

    Xi }f|q`mf |`}`ec hfogeh ai| ofh`mgk xiv|`}o+ m|i}}/li|hf| AH@ `e bfgkxbmg|f agm`k`x`f}gehxbv} ~|ilglkp gk}i CGX] Oihf = x|ghfbg} gk}i |`}fe% Ai| frgo~kf+ ]`ecg~i|f} ^g|jsgpC|iv~ Bfgkxbmg|f bg} di`ex qfexv|f} s`xb bi}~`xgk} `e @ehief}`g+ @eh`g+ Ogkgp}`g+ ]|` Kgejg+ gehxbf VJ% Xbg`kgeh} Lvo|vec|gh Bi}~`xgk fexf|fh `exi ogegcfofex miex|gmx} s`xb bi}~`xgk} `eLgeckghf}b geh Opgeog|+ geh ai|ofh g di`ex qfexv|f s`xb G}`ge Bi}~`xgk `e xbf ^b`k`~~`ef}%Lgecjij Bi}~`xgk bg} 7< l|gembf} `e ]ivxbfg}x geh ]ivxb G}`g+ ~|`og|`kp `e xiv|`}x xise}

    "G|vegeiehmbg` geh A`ej+ >3)%

    Lf}`hf} ofh`mgk xiv|`}o+ ofh`mgk x|ge}m|`~x`ie }f|q`mf} "Oihf 7 x|ghf ia bfgkxb }f|q`mf}) `}geixbf| ogdi| fr~i|x }f|q`mf% @eh`g geh xbf ^b`k`~~`ef} "gkiec s`xb Mvlg) g|f kfghf|} `e xbffr~i|x ia ofh`mgk x|ge}m|`~x`ie }f|q`mf}+ xfkf~gxbikicp+ geh xfkfh`gcei}x`m }f|q`mf}% Goiec xbfG]FGE mivex|`f}+ xbf ^b`k`~~`ef} bg} g mio~g|gx`qf ghqgexgcf `e xb`} fr~i|x lv}`ef}} hvf xi gkg|cf ~iik ia fhvmgxfh Feck`}b/}~fgj`ec si|jf|}% X|ge}m|`~x`ie`}x} g|f v}vgkkp ofh`mgk }mbiikc|ghvgxf} sbi si|j ~g|x/x`of sb`kf gsg`x`ec xbf |f}vkx} ia xbf`| ofh`mgk lig|h frgo}% Xbfogdi|`xp ia xbf ofh`mgk x|ge}m|`~x`ie mio~ge`f} g|f isefh lp V] `eqf}xi|}+ lvx @eh`gemio~ge`f} bgqf gk}i+ oi|f |fmfexkp+ }fx v~ `e xbf ^b`k`~~`ef og|jfx+ }b`ax`ec }iof ia xbflv}`ef}} `e @eh`g xi xbf ^b`k`~~`ef}%

    6%8%7 ^ik`m`f} `e Bfgkxb ]f|q`mf}

    Xbivcb eix gkk G]FGE mivex|`f} bgqf CGX] mioo`xofex} ie bfgkxb }f|q`mf}+ ciqf|eofex} `exbf |fc`ie bgqf ~|igmx`qf ~ik`m`f} xi lii}x mio~fx`x`qfef}} `e xbf }fmxi| geh xi gxx|gmx AH@%Xbg`kgeh+ @ehief}`g+ geh xbf ^b`k`~~`ef} bgqf ei liveh mioo`xofex} ie bfgkxb }f|q`mf}+ sb`kfOgkgp}`g bg} fwv`xp k`o`xgx`ie} v~ xi =>& `e `x} Oihf = mioo`xofex}% Q`fx Ego geh Mgolih`gbgqf qf|p cfef|iv} mioo`xofex} `e bi}~`xgk }f|q`mf} `e xbf`| CGX] mioo`xofex}+ s`xb ei i|afs |f}x|`mx`ie} ie og|jfx gmmf}} geh egx`iegk x|fgxofex `e gkk oihf} frmf~x Oihf 8% Q`fx Ego|fwv`|f} iekp g o`e`ovo `eqf}xofex mg~`xgk goivex ai| bi}~`xgk `eqf}xofex} g} sfkk g} }~fm`gkxpmk`e`m}+ sb`kf Mgolih`g |fwv`|f} gx kfg}x ief Mgolih`ge xfmbe`mgk h`|fmxi|%

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    40/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    =2

    Mio~g|fh s`xb CGX] mioo`xofex}+ gmxvgk ~ik`m`f} mge lf oi|f k`lf|gk `e }iof mg}f}4 Q`fxEgo+ Kgi ^H\+ geh Mgolih`g gkkis avkk ai|f`ce isef|}b`~ ia bi}~`xgk agm`k`x`f}+ sb`kf xbf^b`k`~~`ef}+ Ogkgp}`g+ geh Xbg`kgeh bgqf ai|f`ce fwv`xp mg~} |gec`ec a|io =>& xi 80&%@ehief}`g} ai|f`ce isef|}b`~ k`o`x `} v~ xi 7>>& gmmi|h`ec xi `x} `eqf}xofex ~ik`mp+ lvx 0>&gmmi|h`ec xi O`e`}x|p ia Bfgkxb "Xglkf 0 `e G|vegeiehmbg` geh A`ej >3l)% Oi|fiqf|+ }iof`emfex`qf} g|f c`qfe lp ciqf|eofex} `e xbf |fc`ie xi gxx|gmx ai|f`ce `eqf}xofex% Ai| frgo~kf+xbf ^b`k`~~`ef} ~|iq`hf xsi/pfg| xgr bik`hgp} ai| efsmiof|} `e xbf ofh`mgk x|ge}m|`~x`ie

    lv}`ef}}+ g} sfkk g} x|g`e`ec }v~~i|x ai| c|ghvgxf} xi lf fo~kipfh `e xbf a`fkh%]ffo`eckp+ G]FGE ciqf|eofex} ~|faf| xi hfgk s`xb bfgkxb }f|q`mf} x|ghf f`xbf| ve`kgxf|gkkp+ i| `a|fc`iegkkp+ ivx}`hf xbf a|gofsi|j ia x|ghf gc|ffofex}% G]FGE ciqf|eofex} gc|ffh xi bgqfbfgkxbmg|f g} ief ia xbf`| ~|`i|`xp }fmxi|}+ geh ghi~xfh g \ighog~ ai| |fc`ie/s`hf `exfc|gx`ieia xbf bfgkxbmg|f }fmxi| `e >8% G }v|qfp ia bfgkxb }fmxi| |fcvkgx`ie `e G]FGE mivex|`f}+bisfqf|+ |fqfgkfh }`ce`a`mgex si|j gbfgh+ ~g|x`mvkg|kp ie ~fi~kf/|fkgxfh |fcvkgx`ie}+ ai|frgo~kf k`mfe}`ec+ x|g`e`ec ia kimgk }xgaa+ geh xbf evolf| ia egx`iegk} `e ai|f`ce bi}~`xgk}% Xbf|fg|f+ k`jfs`}f+ |f}x|`mx`ie} ie xbf xp~f ia f}xglk`}bofex} "s`xb hiof}x`m ~g|xef|}) geh }mi~f ia}f|q`mf}+ lvx k`xxkf xi eief ie ~|`qgxf qf|}v} ~vlk`m isef|}b`~ geh `e mie}vo~x`ie ia ofh`mgk}f|q`mf} gl|igh "A`cv|f =>)%

    A`cv|f =>4 \f}x|`mx`ie} ie Bi}~`xgk ]f|q`mf} `e G]FGE

    ]iv|mf4 Gvxbi|} mio~vxgx`ie}+ lg}fh ie hgxg a|io Hff geh H`eb ">0)% ]mi|f} |f~|f}fex xbf }`o~kf gqf|gcf gm|i}}G]FGE mivex|`f} ia gkk |f}x|`mx`ie} e g c`qfe oihf ia }v~~kp%

    Xbf b`cb c|isxb ~ixfex`gk ia x|ghf `e ofh`mgk }f|q`mf} `}+ bisfqf|+ k`o`xfh lp xbf }bi|xgcf iawvgk`a`fh ofh`mgk ~f|}ieefk% Xbf ^b`k`~~`ef} `} g kg|cf fr~i|xf| ia ofh`mgk ~|iaf}}`iegk}+f}~fm`gkkp ev|}f}+ gkiec s`xb @ehief}`g% A`k`~`ei ev|}f} hf}x`egx`ie} g|f oi}xkp ivx}`hf G}`g+ xiixbf| Feck`}b/}~fgj`ec |fc`ie} k`jf xbf V]G+ VJ+ Gv}x|gk`g+ Mgeghg+ geh @|fkgeh+ g} sfkk g} xbfO`hhkf Fg}x% @ehief}`ge ev|}f} fr~i|x hf}x`egx`ie} g|f xi ixbf| @}kgo`m mivex|`f}+ g} sfkk g}

    Ogkgp}`g geh ]`ecg~i|f "G|vegeiehmbg` geh A`ej >3)% Sb`kf Ogkgp}`g bi}x} ai|f`ce ofh`mgksi|jf|}+ }iof ia `x} bfgkxbmg|f si|jf|} g|f kv|fh lp xbf b`cbf| sgcf} `e ]`ecg~i|f% Xbf`em|fg}fh hfogeh a|io ofh`mgk xiv|`}o s`kk efmf}}g|`kp ~|iq`hf ~|f}}v|f `e xbf ofh`mgk kgli|og|jfx xi gkkis oi|f ai|f`ce himxi|} geh ofh`mgk }~fm`gk`}x} xi ~|gmx`mf `e hiof}x`m bi}~`xgk}%Gk|fghp+ G]FGE bg} }`cefh g ovxvgk |fmice`x`ie gc|ffofex "O\G) ai| ofh`mgk geh hfexgk~|gmx`x`ief|} g} sfkk g} ai| ev|}`ec }f|q`mf} xi fg}f xbf h`aa`mvkxp ia kgli| oil`k`xp `e xbf ofh`mgka`fkh%

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    41/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    =0

    6%8%< Avxv|f X|feh}

    Ckilgk`tgx`ie ia bfgkxb mg|f `em|fg}f} xbf |ikf ia }xgehg|h}/}fxx`ec i|cge`tgx`ie}% Ai| frgo~kf+bi}~`xgk} geh ofh`mgk agm`k`x`f} `eqikqfh `e ofh`mgk xiv|`}o qikvexg|`kp }ffj xbf Di`exMioo`}}`ie @exf|egx`iegk "DM@) gmm|fh`xgx`ie% G DM@ `o~|`ogxv| `} eix iekp v}favk g} g wvgk`xp}`cegk ai| ai|f`ce ~gx`fex} xi affk }gaf glivx }ffj`ec x|fgxofex gl|igh `e ~g|x`mvkg| bi}~`xgkagm`k`x`f}: `x `} gk}i v}favk ai| agm`k`xgx`ec xbf ~i|xgl`k`xp ia ~|`qgxf bfgkxb `e}v|gemf miqf|gcf%]iof `exf|egx`iegk bfgkxb `e}v|f|} |fav}f xi a`egemf ofh`mgk x|fgxofex gl|igh vekf}} xbf agm`k`xp`} gmm|fh`xfh s`xb DM@% Bgq`ec g DM@ gmm|fh`xgx`ie+ xbf|fai|f+ `em|fg}f} hfogeh ai| ofh`mgkxiv|`}o }f|q`mf} lfmgv}f ~gx`fex} sbi sivkh bgqf lffe bgo~f|fh `e }ffj`ec ai|f`ce ofh`mgkx|fgxofex lp kgmj ia bfgkxb `e}v|gemf ~i|xgl`k`xp g|f feglkfh xi hi }i `a xbf bi}~`xgk bg} xbf~|i~f| gmm|fh`xgx`ie xbgx `exf|egx`iegk bfgkxb `e}v|f|} |fmice`tf%

    Geixbf| fr~fmxfh x|feh `} `em|fg}fh mikkgli|gx`ie ia bi}~`xgk} s`xb l`ixfmbeikicp |f}fg|mb% Ai|frgo~kf+ `e @eh`g+ G~ikki C|iv~ ia Bi}~`xgk}+ g ogdi| ~kgpf| `e xbf ofh`mgk xiv|`}o g|feg+ `}xfgo`ec v~ s`xb B`}xixfo @em%+ g Ji|fge V]/lg}fh l`ixfmbeikicp a`|o+ xi ~|iq`hf }xfo mfkkxbf|g~p geh hfqfki~ efs x|fgxofex}% B`}xixfo `} f}xglk`}b`ec g kg|cf vol`k`mgk mi|h lkiih lgejai| }xfo mfkk} `e @eh`g+ g`hfh lp xbf mivex|p} b`cb l`|xb |gxf% S`xb g~~|ir`ogxfkp 3>> l`|xb}hg`kp+ xbf }xi|gcf ia }xfo mfkk |`mb lkiih hf|`qfh a|io xbf}f vol`k`mgk mi|h}+ sb`mb sivkh bgqfixbf|s`}f lffe h`}mg|hfh+ mge ~|iqf xi lf xbf lf}x ~i}}`lkf `e}v|gemf gcg`e}x k`af xb|fgxfe`ec

    h`}fg}f} "Eg}`o geh Oiogpg 7>)% S`xb @eh`g lf`ec g ~i~vkg| ofh`mgk xiv|`}o hf}x`egx`ie+~g|x`mvkg|kp ai| }v|c`mgk ~|imfhv|f}+ }pef|c`f} s`xb }xfo mfkk} a|io mi|h lkiih lgej} g~~fg|bfghfh `e xbf |`cbx h`|fmx`ie+ s`xb xbf kgxxf| ~|iq`h`ec g av|xbf| lii}x xi @eh`g} ofh`mgk xiv|`}o`ehv}x|p%

    6%6 Fhvmgx`ie ]f|q`mf}

    G}`g bg} gk}i lffe biof xi g kix ia xbf gmx`ie `e x|ghf `e fhvmgx`ie }f|q`mf}+ f}~fm`gkkp b`cbf|fhvmgx`ie+ iqf| xbf ~g}x hfmghf% Eix iekp bgqf G}`ge ve`qf|}`x`f}+ f}~fm`gkkp xbi}f `e]`ecg~i|f: Ogkgp}`g: Biec Jiec+ Mb`eg: geh ]bgecbg`+ lffe gmx`qf `e ~g|xef|`ec s`xbf}xglk`}bfh ve`qf|}`x`f} `e Ei|xb Gof|`mggeh Fv|i~f `e hfk`qf|`ec qg|`iv} fhvmgx`ie ~|ic|go}+f`xbf| xb|ivcb xs`ee`ec g||gecfofex}+ =

    =G xs`ee`ec g||gecfofex `} sbfe g ~|iq`hf| `e }iv|mf fmieiop G mikkgli|gxf} s`xb g ~|iq`hf| `e bi}x fmieiop L }i

    xbgx }xvhfex} xgjf miv|}f m|fh`x} `e bi}x fmieiop L gehi| }iv|mf fmieiop G% Xbf wvgk`a`mgx`ie `} gsg|hfh lp xbf~|iq`hf| `e }iv|mf fmieiop G% G||gecfofex} v}vgkkp mio~kp s`xb xbf |fcvkgx`ie} ia }iv|mf fmieiop G% G^FM ">0)~|iq`hf} g av|xbf| hf}m|`~x`ie ia qg|`iv} ixbf| g||gecfofex} ~|fqg`k`ec `e xf|x`g|p fhvmgx`ie%

    di`ex ~|ic|go hfk`qf|p+ a|gemb`}f g||gecfofex}+ i|h`}xgemf kfg|e`ec: ogdi| m`x`f} `e G}`g bgqf gk}i `eq`xfh ai|f`ce ve`qf|}`x`f} xi lv`kh l|gembmgo~v}f} i| |f~k`mg} ia xbfo}fkqf}% G}`g `} efrx xi xbf O`hhkf Fg}x `e lf`ec g xi~ kimgx`ie ai|l|gemb mgo~v}f}+ bi}x`ec

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    42/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    8>

    A`cv|f =74 @exf|egx`iegk L|gemb Mgo~v}f} lp G}`ge Mivex|p g} Bi}x "&)

    ]iv|mf4 Gvxbi|} mio~vxgx`ie} lg}fh ie hgxg a|io Geefr G e Lfmjf| ">0)%

    G}`ge mivex|`f} gxx|gmx ai|f`ce ve`qf|}`x`f} xi f}xglk`}b `e xbf`| xf||`xi|`f} lp bfk~`ec lv`kh xbfagm`k`x`f}+ xb|ivcb |fhvmfh |fexgk aff}+ i| xb|ivcb }xvhfex }mbikg|}b`~ a`egem`ec% @e miex|g}x+O`hhkf Fg}xf|e mivex|`f}+ lf}`hf} ~|iq`h`ec }`o`kg| ~vlk`m }vl}`h`f}+ gk}i v}vgkkp ~|iq`hfi~f|gx`ec |fqfevf} ai| xbf l|gemb mgo~v}f}% @e ogep fhvmgx`ie bvl}+ bisfqf|+ wvg}`/ciqf|eofexgk geh eieciqf|eofexgk fex`x`f} gmx g} }~ie}i|} i| ~g|xef|}+ s`xb g o`e`ovo iaciqf|eofex }v~~i|x% Oi}x l|gemb mgo~v}f} bgqf kimgk di`ex qfexv|f ~g|xef|}+ xbivcb g afs g|favkkp/isefh lp xbf ~g|fex ve`qf|}`x`f}% ]iof frgo~kf} ia l|gemb mgo~v}f} `e G}`g g|f g}aikkis}4

    Fhvm`xp `e Dibi|+ Ogkgp}`g+ bg} xb|ff VJ mgo~v}f} lf`ec lv`kx4 Efsmg}xkf Ve`qf|}`xp+]ivxbgo~xie Ve`qf|}`xp+ geh Og|kli|ivcb Mikkfcf% Lfai|f xbfo+ }fqf|gk Gv}x|gk`geve`qf|}`x`f} gk}i }fx v~ }bi~ `e Ogkgp}`g% Xbf a`|}x goiec xbfo sg} Oieg}b Ve`qf|}`xp+xbfe L|`xg`e} Eixx`ecbgo Ve`qf|}`xp aikkisfh+ g} sfkk g} ixbf| Gv}x|gk`ge ve`qf|}`x`f}% XbfOg}}gmbv}fxx} @e}x`xvxf ia Xfmbeikicp `} m|fgx`ec xbf @e}x`xvxf ai| ]v~~kp Mbg`e @eeiqgx`ie`e Ogkgp}`g+ sb`kf Dibe} Bi~j`e} Ve`qf|}`xp `} fr~fmxfh xi f}xglk`}b g ofh`mgk }mbiik "XbfFmieio`}x+ 3 Ogp 77)% @e gxx|gmx`ec ai|f`ce f}xglk`}bofex}+ xbf Ogkgp}`ge ciqf|eofexsgex} ve`qf|}`x`f} xi }fx v~ agmvkx`f} `e g|fg} sbf|f `x bg} g }x|gxfc`m `exf|f}x `e hfqfki~`ecxbf mi||f}~ieh`ec }fmxi|}+ }vmb g} `e fec`eff|`ec i| ofh`m`ef%

    ]`ecg~i|f bg} }`o`kg| gmx`qf fecgcfofex} s`xb ai|f`ce ve`qf|}`x`f}% @e agmx+ `x bg} xbfb`cbf}x evolf| ia l|gemb mgo~v}f} "7< ivx ia 87 G}`ge mgo~v}f})% Xbf}f ve`qf|}`x`f}

    `emkvhf4 Ve`qf|}`xp ia Mb`mgci "]mbiik ia Lv}`ef}})+ Efs Pi|j Ve`qf|}`xp "X`}mb ]mbiik ai|xbf G|x})+ Lg|vmb Mikkfcf+ g} sfkk g} Gv}x|gk`ge ve`qf|}`x`f} k`jf Ve`qf|}`xp ia Efsmg}xkf gehMv|x`e Ve`qf|}`xp ia Xfmbeikicp%

    @e Biec Jiec+ Mb`eg+ ]gqgeegb Mikkfcf ia G|x geh Hf}`ce "]MGH) |feiqgxfh g 701>}miv|xbiv}f s`xb dg`k mfkk} `e Ei|xb Jiskiie `e frmbgecf ai| mki}f xi tf|i |fex geh }xg|xfhiaaf|`ec 78 vehf|c|ghvgxf geh c|ghvgxf hfc|ff} `e }vldfmx} k`jf ~bixic|g~bp+ `exf|gmx`qfhf}`ce+ geh cgof hfqfki~ofex "@BX+ 0 Ogp 77)% @x }ffj} xi mg~`xgk`tf ie xbf mfex|gkkimgx`ie ia Biec Jiec+ Mb`eg xi gxx|gmx }xvhfex} a|io xbf ^\M geh ixbf| G}`ge mivex|`f}%]`o`kg|kp+ Biec Jiec+ Mb`eg g`o} xi gxx|gmx l|gemb mgo~v}f} ai| }~fm`gkxp miv|}f} k`jf

  • 8/2/2019 Services as a New Engine of Growth for ASEAN, the Peoples Republic of China, and India

    43/57

    GHL@ Si|j`ec ^g~f| =80 ]bf~bf|h geh ^g}gh`kkg

    87

    sbgx ]MGH iaaf|}+ `e}xfgh ia avkk/lkise ve`qf|}`x`f} sb`mb sivkh mio~fxf s`xb fr`}x`ecBiec Jiec+ Mb`eg ve`qf|}`x`f}%

    ]fqfe ivx ia 7> l|gemb mgo~v}f} `e xbf ^\M g|f V] ve`qf|}`x`f} geh mikkfcf}% Xbf}f`emkvhf Dibe} Bi~j`e} Ve`qf|}`xp+ Ve`qf|}`xp ia Og|pkgeh "]mbiik ia Lv}`ef}})+ Lg|vmbMikkfcf+ geh Aki|`hg @exf|egx`iegk Ve`qf|}`xp%

    Lf}`hf} l|gemb mgo~v}f}+ G}`g bg} gk}i lffe gmx`qf `e xs`ee`ec geh a|gemb`}f g||gecfofex}+

    iaxfe iaaf|`ec di`ex hfc|ff} s`xb ai|f`ce ve`qf|}`x`f}+ f}~fm`gkkp `e lv}`ef}} a`fkh}% Sb`kf xbf|f `}ei mio~|fbfe}`qf hgxg ie bis ogep geh sbgx }i|x ia ~|ic|go} xbf}f g|f+ efs}~g~f|ghqf|x`}fofex} iqf| xbf kg}x hfmghf bgqf lffe avkk ia frfmvx`qf ~|ic|go}+ lixb }bi|x/xf|o gehhfc|ff c|gex`ec%

    S`kk xb`} x|feh `e fhvmgx`ie }f|q`mf} x|ghf miex`evf xi c|is9 Xbf|f g|f }x|iec |fg}ie} xi lfk`fqf}i% A`|}x+ `e xbf ~g}x+ G}`ge }xvhfex} bgqf mie}x`xvxfh xbf ogdi|`xp ia ai|f`ce }xvhfex} ~i~vkgx`ecve`qf|}`x`f} `e xbf Sf}x+ lvx g} xbf ^\M geh G}`g c|is+ xbf|f bg} lffe mie}`hf|glkf `exf|f}xgoiec Ei|xb Gof|`mge geh Fv|i~fge }xvhfex} `e kfg|e`ec oi|f glivx G}`g% @e g |fmfex }v|qfpia }xvhfex oil`k`xp g|iveh xbf si|kh+ xbf ^\M `} eis |gejfh }`rxb `e xbf xi~ hf}x`egx`ie} iaai|f`ce }xvhfex} "IFMH+ 7>)+ xicfxbf| s`xb xbf x|gh`x`iegk xi~ }~ix} immv~`fh lp V]+ VJ+ gehA|gemf% Wv`xf }v|~|`}`eckp