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The key to Asian economic growth in 2018 will be greater friendship and cooperation between countries, according to the president of the Asian Development Bank.
One of the reasons behind Asia's success in growth and development is the region's successful fostering of a "sense of cooperation" between countries in Asia, ADB President Takehiko Nakao told CNBC on Monday.
"There can be differences in opinions, but it is important to manage and improve cooperation between countries in Asia," he said.
"ASEAN is now more united and heading towards more market-oriented reform policies, " Nakao added, crediting Southeast Asia's economic growth to the growing cooperation between members of the Association of Southeast Asian Nations.
Another key reason behind Asia's economic growth is its integration into the global supply chain. Nakao said that, while Asian economies used to follow a "flying geese" model, which essentially meant countries followed one another in terms of investment, the region today follows more of a production sharing model.
Today, however, "the Chinese develop in some sectors … the Koreans develop in some sectors, so they are sharing comparative advantages through supply chains, " the ADB president said.