Question 1

Which major trade agreement, signed in November 2020 and encompassing 15 Asia-Pacific countries including China, Japan, and South Korea, aims to gradually eliminate tariffs on over 90% of goods traded among its members?

Accepted Answer

Regional Comprehensive Economic Partnership (RCEP)

Question 2

Japan recently announced the 'Partnership On Wide Energy and Resources Resilience (POWERR Asia)' initiative, pledging how much in financing support to ASEAN countries?

Accepted Answer

US$10 billion

Question 3

The ASEAN+3 Finance Ministers and Central Bank Governors' Meeting, held in May 2026, discussed strengthening regional financial stability through initiatives like the Chiang Mai Initiative Multilateralisation (CMIM) and the Asian Bond Markets Initiative (ABMI). What was proposed for the evolution of ABMI?

Accepted Answer

A shift to the Asian Bond and Financial Markets Initiative (ABFMI)

Question 4

South Korea's New Southern Policy (NSP), launched in 2017, aims to elevate relations with ASEAN and India to the level of relations with which major powers?

Accepted Answer

China, Japan, United States, and Russia

Question 5

The Belt and Road Initiative (BRI), spearheaded by China, aims to improve trade and economic integration across Asia, Europe, and Africa. Which of the following is a key objective of the BRI?

Accepted Answer

Breaking the bottleneck in Asian connectivity and expanding the international use of the renminbi

Question 6

Taiwan's 'integrated diplomacy' strategy, with its economic diplomacy pillar, aims to deepen regional ties by leveraging advantages in 'Five Trusted Industry Sectors'. Which of these is NOT one of the listed sectors?

Accepted Answer

Automotive Manufacturing

Question 7

Recent analysis of the US-China trade war suggests that while it has negatively impacted both nations, East Asian economies (excluding China) have experienced what kind of overall effect?

Accepted Answer

A positive impact of approximately 0.1% of GDP

Question 8

As of May 2026, Japan has been deepening its ties with Southeast Asia through initiatives like POWERR Asia. This strategic shift is described by analysts as 'enlightened self-interest' due to:

Accepted Answer

The direct benefit to Japan's manufacturers and society from ensuring ASEAN's well-being

East Asia's Shifting Financial Alliances: RCEP, BRI, and Cross-Border Diplomacy

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