Maria Socorro Gochoco-Bautista, University of the Philippines: In general, the paper has two basic themes and the author would be better off focusing on one of these themes—either focus on why there is a need or value to regional-level financial cooperation in financial regulatory policy, or focus on how the EU's experience with financial cooperation and regulation is relevant to Asia and what lessons, if any, Asia can draw from the EU's experience. The paper is quite descriptive and produces a list of things that need to be accomplished for regional financial regulation in Asia to occur but does not provide an overarching framework to analyze such nor is a road map provided as to which tasks ought to be prioritized, and so forth.
If the author were to focus on why there is a need or value to regional-level financial cooperation in Asia, one way to proceed could be...