The East Asian Bureau of Economic Research –EABER– is a forum for high-quality economic research focussing on issues facing the economies of East Asia. It comprises representatives from Japan, China, South Korea, Vietnam, Cambodia, Laos, Thailand, Malaysia, the Philippines, Indonesia and Australia. The rapid development of the East Asian economies, the growth of intra-regional trade, financial and other economic interaction, and East Asia’s new role in the global economy all underline the need for access to a vastly increased range of quality economic analysis on East Asia.
Since taking office in mid-March, the Li Keqiang government has taken a different policy path from that of its predecessor. Its key economic policy framework, although yet to be fully detailed, can be summarised as ‘Likonomics’, and appears to consist of three key pillars — no stimulus, deleveraging and structural reform. If so, this implies further downside risks for the economy and markets in the near term. But such policy measures are necessary now for China in order to avoid much more disruptive outcomes in the future.