The faster rates of aging in Europe and Japan may also directly affect investment and, hence, the growth of labor productivity here in the United States. If saving rates in these countries decline, global capital flows to the United States that have contributed significantly in recent years to financing domestic investment are likely to decline.
There is room  2  BIS Review 44/2003  for greater cooperation among banks, such as exchange, attachment, and apprenticeship among the staff of the banks in the region, as well as cooperation with other regional groupings and international financial institutions. ASEAN Bankers Association should explore ways to create greater synergies through partnership and cooperation.